The Hindu Business Line : Pantaloon aims to double turnover in 2004-05

PANTALOON Retail (India) Ltd will enhance its floor size from 1.1 million to two million square ft in this fiscal. The company also aims to double its turnover in the current fiscal from Rs 680 crore in 2003-04.

The floor sizes will be added to both Pantaloon and Big Bazaar chains at an estimated cost of Rs 75 crore. The company currently has a total of 39 outlets under both the chains.

Talking to Business Line, the Managing Director, Mr Kishore Biyani, said that a substantial part of the floor size would be added in newer destinations especially in smaller cities.

"We have ambitious plans in Karnataka. This apart, States such as Maharashtra, Gujarat, Andhra Pradesh, Haryana and Delhi are on our priority list."

Having already registered Rs 100-crore in sales from its three outlets in Kolkata, Pantaloon is also expanding its reach in West Bengal. Pantaloon had entered Kolkata in 1997.

Further expansions are planned in Maharashtra, which is the single largest contributor to Pantaloon's turnover.

Though he did not disclose the individual turnovers of both the brands (Pantaloon and Big Bazaar), Mr Biyani said that the company was aiming at crossing the Rs 1,300-crore mark in 2004-05.

He said that the aim was to establish Pantaloon stores and its brands high up on the style graph so as to attract the younger generation. Thus, its Project New Age Pantaloons had been introduced in Mumbai.

Projects are also underway to train staff manning the stores. "We currently have a tie-up with KD Somaiya management institute in Mumbai for training our supervisor and management-level employees. We also have an in-house facility to train lower-level employees," Mr Biyani added.

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