Business Daily from THE HINDU group of publications
Friday, Jan 25, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Jan 25, 2008 ePaper | Mobile/PDA Version |
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Marketing
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Retailing Corporate - Outlook Aditya Birla Retail looking at new formats Our Bureau Bangalore, Jan 24 Aditya Birla Retail Ltd, the retail arm of the Aditya Birla Group, which made a foray into the country’s Rs 32,000-crore retail sector last year with the acquisition of the Fabmall and Trinethra supermarkets, is now looking at launching other retail formats. “This could include niche stores in footwear, jewellery, consumer durables and maybe discount stores,” Mr Sumant Sinha, CEO, Aditya Birla Retail, told presspersons here on Thursday. Speaking at the launch of More (the re-branded stores of Fabmall), Mr Sinha said that the company would invest around Rs 10,000 crore during the next four years on its supermarket and hypermarkets expansion plans. The company’s current retail footprint in the country includes 350 More stores across the country and one hypermarket in Mysore. Growth plans include 500 supermarkets by the end of this financial year and a 90,000 sq ft hypermarket at Baroda next month. “In the next four years we plan to increase our presence to 1,500 supermarkets and about 100 hypermarkets,” Mr Sinha said. The company is, however, not eyeing any acquisitions for a quick ramp up, he clarified. More Stories on : Retailing | Outlook
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