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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
