Progressive Grocer spoke to KN Niyas, Partner, and a third generation member of the family that founded the MK Retail Company, which has held its own as a pioneering F&G retailer meeting the expectations and aspirations of generations of consumers over decades by providing quality, affordability and assortment in a modern supermarket setting.
FACT BOX: MK RETAIL AT A GLANCE
Name of the retailer: MK.Retail Company
Launch of first store: 1927
City/ies where stores are in operation: Bangalore
Number of stores in operation currently: 8
Total retail trading area: 74,500sq.ft.
Store size: 4,000-25,000 sq.ft.
Product categories & merchandise: FMCG Food; FMCG Non-food; Consumer Durables; Fruit & Veg; Fish & Meat;
SKUs per store: 60,000
Percentage of shelf space to major product categories: FMCG Food 50%; FMCG Non-food 30%; Fruits & Veg 10%; Fish & Meat 10%;
Sales contribution from PLs: 30%
Sales growth over the past 5 years: 25% per annum
Average monthly sales: Rs. 13 crore
Sales growth y-o-y: 10%
Average bill size: Rs. 800
Catchment and customer profile: Upper class and upper middle class
Daily footfalls: Approx. 5,000 across all stores
Number of Employees: 550
Give us an overview of the history of your store over the years; the eventful milestones in its development and a sketch of its progression till date. MK Retail has a legacy of over 90 years. Started in 1927 by M.K. Ahmed, the scion of a prominent retail business family, the store, back then, was called MK Ahmed & Sons. It was a novel concept then, and soon, thanks to its location – the central business district of Bangalore – the store shot to fame. The founder, with his visionary zeal, customer-centric approach and towering entrepreneurial spirit, turned MK Ahmed & Sons into the most favorite neighborhood convenient store in Bangalore.
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