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Tuesday, 28 December 2010 |
Future Value Retail, a Future Group venture, will take its
hypermarket chain Big Bazaar to smaller cities of Andhra Pradesh including Karimnagar, Nellore, Tirupati, Mahabubnagar, Rajahmundry, Kakinada and Warangal. The investment in each store would range from Rs 7 crores to Rs 20 crores depending on the size and format. The company has already signed up for the real estate space in a couple of locations. The group would set up three more Big Bazaars in Hyderabad besides increasing its presence in Vijayawada and Visakhapatnam. It has planned about seven Fashion@ Big Bazaar stores in the city. Three others would come up in other cities of the state. It will also set up about ten more Food Bazaars in the city to add to the existing five.
In all, the group would set up about 60 Big Bazaar stores in the next one-and-a-half year, and has identified 25 locations as of now. It will invest about Rs 2,000 crores during this period across the group businesses including Central, Big Bazaar, Food Bazaar, Home Town, and Brand Factory.
Meanwhile it is now focusing on streamlining a digital commerce supply chains. The retailer famous for crowds of family shoppers and offering good discounts is soon going to be famous for websites swarming with discounts on– groceries, cosmetics, apparels, home ware and tiny electricals. The group is among the first FEW retailers to go online as the company launches a large-scale push for digital commerce.
Future Group runs stores in multiple retail formats and includes the hypermarket chain Big Bazaar, apparel store Pantaloons, and the home improvement store, Hometown. The Group’s subsidiaries will offer online shopping in the next 12 months. The division is said to be targeted at tier-2 cities and rural sector in India. Online shopping in India is currently dominated by travel operators, notably the Indian railways, which accounts for more than half of the net revenues in the industry, but the Future group’s entry in e-commerce logistics and last mile delivery is likely to change this permanently. |
