Financial Daily from THE HINDU group of publications
Tuesday, Apr 05, 2005
Financial Daily from THE HINDU group of publications Tuesday, Apr 05, 2005 |
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Corporate
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Diversification Marketing - Retailing Pantaloon mulls mall for home needs category N. Ramakrishnan
Chennai , April 4 PANTALOON Retail (India) Ltd has acquired about five acres of land at Thoraipakkam, along the Old Mahabalipuram Road, to set up a mall. The mall would cater exclusively to the home needs category, according to reliable sources. The proposed mall, the latest in the format of retail chains in Pantaloon, will house everything that is needed for the construction sector - paints, hardware, furnishings, construction equipment and the like. According to the sources, the idea is for Pantaloon to put up the mall and then either lease out or sell space to various companies that cater to the home needs sector. Pantaloon proposes to roll out this format, as yet unnamed, in the five metros to begin with. The home needs format will follow Pantaloon's other retail formats - Big Bazaar, Central Mall and Food Bazaar. According to the sources, Pantaloon has also identified the land for a Central Mall and a Food Bazaar in Chennai. The Central Mall is likely to come up in Vadapalani and the first Food Bazaar outlet in the city near the more central Dr Radhakrishnan Salai, according to sources.
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