Backed by ArcelorMittal and Nippon Steel Corporation, AMNS plans to expand its offline model for MSMEs
The Hypermart model is an integrated platform for retail trade and last-mile sales of steel grades for micro, small and medium enterprises (MSMEs) across areas such as fabricators, engineering goods, and auto components.
Domestic steel maker AMNS India on Tuesday said it is looking to expand its offline retail network by adding 32 outlets by 2021.
Currently, there are about 18 Hypermarts across various locations in India, ArcelorMittal Nippon Steel (AMNS) India said in a statement.
"AMNS India is relaunching and expanding Hypermarts, its national network of retail outlets that serves the MSME segment. AMNS aims to expand the network to 50 outlets by the end of the next year," it said.
The firm added that Hypermarts contribute 20 percent to AMNS India's revenues, its share is expected to rise to 30 percent with the expansion.
The company described its Hypermart model as an integrated platform for retail trade and last-mile sales of steel grades for micro, small and medium enterprises (MSMEs) across areas such as fabricators, engineering goods and auto components.
As MSMEs continue to grow, easy availability of raw materials such as steel will strengthen demand and sustain growth as the Indian economy revives from the pandemic.
Hypermart gives manufacturers direct access to AMNS India products that they are unable to source directly from steel mills, it added.
AMNS India Hypermart has a presence in key MSME hubs such as Hazira, Taloja, Mangaluru, Ghaziabad, Hyderabad, Coimbatore, and Bengaluru.
Hypermart will be expanded to other MSME hubs such as Ahmedabad, Ludhiana, and Jodhpur, it said.
In the statement, AMNS India Vice-President and Director (Marketing) Alain Legrix said, "Expansion will ensure improved proximity of quality steel and service for our customers."
Legrix added that MSMEs are the growth engines of the Indian economy and if quality steel is more widely and readily available, its multiplier effects will drive consumption and growth for the nation, in line with the vision of Aatmanirbhar Bharat.
AMNS India Chief Marketing Officer Ranjan Dhar said, "Our new product lines and customer initiatives designed to improve ease, access, and convenience for customers to efficiently source a wide range of products are new features in the Hypermart." Hypermart will help MSME customers to grow and strengthen their businesses, he added.
ArcelorMittal Nippon Steel India (AMNS India) is a 60:40 joint venture between Lakshmi N Mittal-owned ArcelorMittal and Japan-based Nippon Steel Corporation.
Edited by Kanishk Singh
MOST VIEWED STORIES
