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L to R - The New Shop - Charak Almast, Co-Founder, Aastha Almast, Co-Founder and Head of Business, Mani Dev Gyawali, Co-Founder - Saurabh Singhania
New Delhi-based retail brand The New Shop, which has an omnichannel presence through various online delivery platforms, recently announced the expansion of its retail outlets with the launch of 15 new stores in a day over the weekend in the Delhi NCR region. With this, The brand now has a total of 27 stores in its region.
The company also said that the 41 new stores will be ready to open their doors nearing Diwali this year. The newly launched stores are based in 15 new locations, including Subash Nagar, Moti Nagar, Ashok Vihar, Faridabad (3 locations), Mayur Vihar, Mukherjee Nagar, Ghaziabad, Rohini (2 locations), Madhu Vihar, Laxmi Nagar, and Ramesh Nagar.
"Our stores are a manufactured product. We make modular stores on a plug-and-play format, that are built in less than 2 weeks at 1/5th of the costs. Which is why we can speed scale our stores so easily. We have created the operational efficiency to open multiple stores every day. The New Shop in simple words is a 24x7x365 day Store in a box for your daily needs," said Charak Almast, Co-Founder & Head of Operations, The New Shop.
Started in March 2019 by siblings, Aastha Almast, (Co-founder & Head of Business) and Charak Almast (Co-founder & Head of Operations), and Mani Dev Gyawali (Co-founder & Head of Technology), Accelerate Productx Ventures Pvt Ltd, which owns and operates, The New Shop claims to be India's only 24*7 convenience store and instant hyperlocal delivery retail network in the country.
"The New Shop’s core focus is to take organized convenience retail offering to the masses," Aastha said. The brand soon will be entering multiple cities in the country at mass transit points - airports, railway stations, petrol pumps, tourist spots, highways, and residential areas, she said.
"We are on our path to make The New Shop as the ‘Convenience retail’ brand in India offering 2-minute checkout, and 15 minutes e-delivery”, Aastha adds.
According to Aastha, Convenience retail - a global multi-trillion dollar industry is yet to set its foot in India, ironically the youngest country in the world! But, India is a ripe market for C-stores now and at the cusp of the C-stores revolution. The New Shop claims to have witnessed 1600% growth in the last 12 months and currently growing at 68% month on month.
Additionally, The brand is also planning to expand its offline retail presence in multiple cities and create a chain of 1000+ stores in the next 4 years. It is backed by prominent investors like Abhijeet Pai, Partner at 9unicorns Fund; Sreeram Reddy Vanga; American Shark Kevin Harrington; Huddle Accelerator; Anthill ventures; Angel List India; Let’s Venture; and various HNIs.
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