New Shop plans to double store count, expand overseas: Co-founder Aastha Almast
Live MintNew Delhi, Feb 23 Tech-enabled convenience retailer New Shop is on track to double store count to 600 by year-end, a tally that would include rebranded 24Seven stores being acquired from Godfrey Phillips India, and is also eyeing overseas expansion. New Shop is also on prowl for acquisitions and buyouts, with co-founder Aastha Almast symbolically describing herself as a retailer who simply "loves to shop". On the recent move to acquire 24Seven stores from GPI, Almast said that about 35 stores have already been rebranded to New Shop and franchised out. On how the model works, she said that typically entrepreneurs buy or take the retail store on franchise, while New Shop brings in technology, partnerships, licences, processes, and lends the label.
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