 "Top 11 listed entities in Retail and QSRs opened 12 stores a day in 2022")
Top listed entities in the retail business and quick-service restaurant (QSR) chains opened nearly 4,600 new stores, or about 12 every day in 2022. The number is up 44 per cent compared to 2021. The boom comes when retail outlets have registered a significant footfall jump, as The Economic Times (ET) reported.
These firms include Reliance Retail, Aditya Birla Fashion and Retail (ABFRL), D'Mart, Trent, Tata Starbucks, Tata, Jubilant Foodworks, V Mart, ShoppersStop, Westlife Foodworld, and Burger King. All these companies together added 4,853 outlets last year, increasing their combined store network to 28,064, ET reported quoting data from companies' latest investor presentations.
In 2021, their total store strength stood at 23,481.
The report added that companies have ramped up store launches to take advantage of lower rent rates at key locations. Retailers and mall operators said that the opening of new stores might gather even more pace this year.
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