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Monday, 18 July 2011 |
Kishore Biyani promoted Future Group, which runs the largest retail chain of value and
lifestyle formats, plans to open 25-30 Big Bazaar outlets by June 2012 at an investment of Rs 300 crores. Since the Big Bazaar format witnesses three-million footfalls each week, it’s evident that this model is working for the Future Group. Right now there are 152 Big Bazaar stores in the country. Also there are 13 Fashion at Big Bazaar standalone stores. The Group is targeting opening 30 more such stores this year. The Future Group will invest another Rs 70 to Rs 80 crores for the Fashion at Big Bazaar stores.
Meanwhile, Future Ideas would be increasing its stake in ACK Media. A related arm of the Future Group called Future Ventures has a 13.7 per cent stake in Amar Chitra Katha and this will be increased to 40 per cent. Big Bazaar is confident of selling two million copies of Amar Chitra Katha comics by December. In memory of Anant Pai, the founding editor of the series, Amar Chitra Katha scholarships would be given to children aged 10 to 15, and participation forms would be available at Big Bazaar stores. The scholarship evaluation will be based on a written quiz on India. |
