Pantaloon to open 17 Big Bazaar outlets
Pantaloon Retail (India) plans to open 17 new Big Bazaar outlets in the south in next one year, including eight-nine stores in Kerala, where it will make a foray, a senior company executive said on Friday.
By PTI |
BANGALORE: Pantaloon Retail (India) plans to open 17 new Big Bazaar outlets in the south in next one year, including eight-nine stores in Kerala, where it will make a foray, a senior company executive said on Friday.
The company currently has eight Big Bazaar outlets in the south, five in Bangalore, one each in Hyderabad, Vizag and Mangalore.
"We will have 25 Big Bazaar outlets in the next 12 months", company President (South) Vishnu Prasad said adding that the company spends between Rs 10 crore to Rs 20 crore to set up a store depending on its size.
The investment for expansion in the region is expected to be around Rs 200 crore, Prasad said. Eight-nine stores each would be established in Tamil Nadu and Kerala. "We will be present in A class and B class cities", he said.
Pantaloon is opening tomorrow its fifth store in Bangalore, it's the company's 32nd Big Bazaar outlet in India. Five more stores would be added in the city in the next one year.
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The 1,60,000 sqft latest store here, spread across six floors, is the biggest one in India. Bangalore now has the highest number of Big Bazaars in India, company officials said.Prasad said the five Big Bazaar outlets here expect total revenue of Rs 500 crore in the current fiscal.
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