Future Retail to add stores

Monday, 23 August 2010

Future Value Retail India is looking at opening 60 more stores in all its three segments -- Big Bazaar, Food Bazaar and Fashion Bazaar -- in the next 18 months. This will take the total number of retail outlets to 249 in the country. At present Future Retail have 189 stores, which comprise 134 Big Bazaars, 50 Food Bazaars and five Fashion Bazaars. In fact, Future Retail has special plans for Karnataka, where it has 11 Big Bazaars, five Food Bazaars and one Fashion Bazaar. It now plans to enter five more towns, including Chikmagalur, Shimoga and Bellary. As far as Big Bazaar is concerned, by the end of this year the company hopes to achieve a 20 per cent growth over last year.

Last fiscal, Future Retail’s verticals did business worth Rs 9,000 crores plus. Both value and lifestyle segments are delivering good same-store growth. Future has also seen a very good revival in the growth of its home retail divisions. All its efforts to simplify its business verticals and processes have improved its retail operating parameters. Future wants the group business to be in the verticals of retail, finance and capital and support. With various mergers and de-mergers, it has aligned its retail business into lifestyle and value retail. All non-core and non-retail activities have moved out or will move out of Pantaloon Retail. Their aim is to increase the value for stakeholders.

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