Future Group to have 1500 KB's Fair Price stores

MUMBAI: Kishore Biyani-led Future Group is planning to have a network of about 1500 KB's Fair Price stores across eight major markets over the next one and half year, a top company official said on Tuesday.

"We will be adding 1400-odd KB's Fair Price Stores across eight major cities in the country over the next 19 months to have a total of about 1500 stores," Future Group Chief Executive Officer Damodar Mall, told reporters here.

Mumbai alone would have 250 such stores, he added. Following the opening of its first store in Delhi six months ago, the Group today runs 67 such stores across Delhi, Mumbai and Bangalore, offering 300 essential items at low prices.

Mall, however, refused to divulge the total investment the group was putting in the expansion.

"We have set up these stores at a cost of Rs 387 per sq ft instead of over Rs 2,000 per sq ft spent by other supermarkets. The Fair Price stores are spread over in an area ranging from 1000-1600 sq ft," he said.

The stores has low operational cost to pass on goods at lower price to customers. The stores are not air-conditioned and do not have fancy displays.