Pantaloons to invest Rs 1500 cr for Big Bazars

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Agencies

Posted online: Friday , May 16, 2008 at 01:43:47
Updated: Friday , May 16, 2008 at 03:11:38

Vadodara, May 16: Pantaloon Retail (India) Limited, a future group venture, will make an investment of more than Rs 1500 crore for opening more than 110 big bazar hypermarkets in various cities across the country, Anand Adukia, Zonal Chief of the company said on Friday.

“With this launch, Big Bazar is now present in all the four major cities of Ahmedabad (five stores), Anand, Surat, Rajkot and Vadodara (one each) while the count for all India goes upto 90 stores in 55 cities in the country,” Adukia told reporters, after opening its ninth store in the city today.

The sprawling three floors of Vadodara Big Bazar houses over 1.6 lakh products and is a destination store to cater to every single household needs of a family, he said.

“We are a consumer-driven company and we ensure that all our Big Bazar stores fulfill the needs of the entire household under one roof,”Adukia said.

This store also houses, ‘Navras’, a national brand known for fine 22 carat pure gold and diamond jewellery.

The company intends to open one more store in Vadodara, and Ahmedabad in next couple of months along with Jamnagar, Bhavnagar and Vapi among others, Adukia added.

Besides, the company also intends to open 11 more stores in Gujarat later this year, he said adding, with this, the company has made a total investment of Rs 500 crore in the state.

At present, Pantaloons caters to the lifestyle segment through its 40 stores and seven central malls.

In value retailing, it is present through 90 Big Bazar hypermarkets, 134 food bazars and other delivery formats, Adukia said.

The company is a leading retailer with a turn over of over Rs 3350 crores and is targetting 50 per cent growth this year, Adukia added.

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