The Hindu Business Line : Pantaloon plans 12 more central stores in 3 years

DEVELOPING one of the largest destination stores in the country, its second after the Bangalore mall, retail chain major Pantaloon Retail (India) Ltd has commissioned Hyderabad Central and plans to roll out about 12 to 15 such large format stores across the country in the next three years.

The Director of Pantaloon Retail (India) Ltd, Mr Rakesh Biyani, said that the company is set to grow to about Rs 1,200 crore in revenues by next year from the current Rs 650 crore following this expansion. The Rs 70-crore Hyderabad store, of which Rs 35 crore was chipped in by the property developer GS Builders, would have five restaurants and serve as a shopping-cum-entertainment complex.

Addressing a press conference here on Friday, Mr Biyani said, "The store would also see the roll-out of several international brands and the first one to check in would be Mark's & Spencer in a 4,500 sq ft facility. Soon, At Leisure, Royal Sports House will join. We have created space for the entire range of products. Apart from lifestyle products, this store would also have a floor for domestic requirements."

"Spread across 2,50,000 sq ft on five floors, this is the largest single centre store for Pantaloon. We are in the process of finalising two more stores, one at Pune and the other at Gurgaon. Overall, Pantaloon expects to locate 12-15 such large stores across the country.

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Pantaloon plans 12 more central stores in 3 years