LOTS Wholesale Solutions announces investments worth INR 250cr
LOTS Wholesale Solutions, a 100% subsidiary of Siam Makro, today signed a memorandum of understanding (MoU) with the Uttar Pradesh Government. LOTS Wholesale Solutions will open wholesale outlets in next three years in UP with a proposed investment of INR 250 crore. The MoU was signed at the UP Investors Summit in Lucknow in the presence of Hon’ble Chief Minister Yogi Adityanath.
LOTS Wholesale Solutions expects to generate 1500-2000 direct and indirect employment within the state of UP through their stores. The company had recently announced their plans to launch 15 stores across North India in next three years with the first two stores to open in Delhi and Noida within 2018. The next phase will see extension into other major cities of Uttar Pradesh such as Lucknow, Agra, Varanasi, Kanpur, Meerut, and Allahabad.
Talking about the plans for the state, Mr. Tanit Chearavanont, Managing Director, LOTS Wholesale Solutions said, “Uttar Pradesh is one of the most progressive states in the country and we are keen to be a part of the initiatives that create a win-win for both sates and businesses. This MoU paves the way for an extensive retail rollout by us which will provide multiple opportunities small & medium suppliers to grow their business as well as Kirana and HoReCa segment who will receive service par excellence. We aim to work closely with local farmers to improve their yield and enhance quality of product through our global expertise.”
Mr. Sameer Singh, Director, Lots Wholesale Solutions, underlined the company’s commitment to the state by saying, “Our first store will be rolled out in Noida this year and soon we will open stores across Lucknow, Kanpur, Varanasi, Allahabad and other cities in UP. Our stores will create jobs for the talented youth of UP and also impart trainings that will enhance their skills. We are very positive about our entry into UP and are thankful to government for the support we have got in-terms ease of doing business.”
LOTS Wholesale Solutions will establish special collection centres in key locations within the state of UP to source raw material from farmers directly and support local handicraft like khadi through manufacturing of uniforms etc. The company brings benefits of convenience aided by technology and digitisation, last mile delivery at competitive pricing for its customer base of HoReCa, traders and service customers.