Financial Daily from THE HINDU group of publications
Sunday, Dec 05, 2004
Financial Daily from THE HINDU group of publications Sunday, Dec 05, 2004 |
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Marketing
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Retailing Pantaloon plans expansion thro' Big Bazaar markets Our Bureau
Kolkata , Dec. 4 PANTALOON Retail (India) Ltd will increase its floor size from 1.1 million sq. ft. to three million sq. ft. in three years. The bulk of the expansion will take place through `Big Bazaar' hypermarkets. The company is also planning to increase the share of its own labels in total sales from 25 per cent to 40 per cent. The company previously announced its plans to enhance the floor size to two million sq. ft. at an estimated investment of Rs 75 crore in this fiscal. Having registered a turnover of Rs 680 crore in 2003-04, it aimed to reach Rs 1,300 crore during 2004-05. Talking to newspersons in connection with the inauguration of the second Big Bazaar store here on Saturday, Mr Sanjeev Agrawal, Head-Marketing, said that plans were afoot to increase the number of large-sized (over one lakh sq. ft.) central malls in the country. Currently, it has two such malls in Bangalore and Hyderabad. The company plans to set up two more in Pune and Gurgaon. About expansion to smaller cities, Mr Agrawal said after its successful entryinto Bhubaneswar and Nasik, Pantaloon has finalised the setting up of an outlet in Durgapur in West Bengal. Talking about Kolkata where the company opened its first top line Pantaloon outlet, he said that the city would host six to eight Big Bazaar stores in the long run.
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