Delhi-based convenience store chain 24SEVEN sees 80% surge in business during pandemic: Report
24SEVEN's registered growth even as most businesses across sectors were brought to a standstill amid the the lockdown to contain the transmission of COVID-19.
July 29, 2020 / 04:06 PM IST
Delhi-based convenience store chain 24SEVEN saw a surge of about 80 percent in its business during the coronavirus pandemic, Business Standard has reported.
This, even as most businesses across sectors were brought to a standstill amid the the lockdown to contain the transmission of COVID-19. The round-the-clock venture founded by Samir Modi, executive director of Modi Enterprises, has reportedly seen double-digit growth in profits.
During the lockdown, hardly any stores remained open, hence the 24SEVEN outlets were a go-to option for many people out to buy essentials.
There are around 45 24SEVEN stores across the Delhi NCR region. The KK Modi group's business has under its umbrella a range of popular brands like Modicare, Colorbar, Godfrey Phillips and Pan Vilas, among others.
Traders' body CAIT said earlier this month that India's retail trade has suffered a business loss of about Rs 15.5 lakh crore in past 100 days due to the COVID-19 pandemic. Many retail businesses that saw massive disruptions started looking for opportunities online in order to tide over the crisis.