The Hindu : Business : Pantaloon to explore new retail formats

Online edition of India's National Newspaper
Friday, Jul 08, 2005

Business

Business

Pantaloon to explore new retail formats

Ramnath Subbu

To invest Rs. 300 cr. over two years

MUMBAI: A pioneer in the modern retail sector, Pantaloon Retail (India) Ltd. has drawn up aggressive plans and is looking to introduce new formats in the retailing space. From a turnover of Rs. 650 crore in 2003-04 (June ending), Pantaloon is riding the retail wave and is looking at a turnover in the region of Rs. 1,100 crore this year and, according to Kishore Biyani, Managing Director, PRIL, "will cross the Rs. 2,000-crore turnover mark next year.''

New delivery models

PRIL is looking at a Rs. 300 crore capital expenditure plan over the next two years funded by a mix of debt, internal accruals and equity if necessary. It plans to increase the leased retail space from 1.8 million sq. ft. across the country to three million sq. ft. this year. It operates under four types of retail formats — 12 Pantaloon stores for fashion, 18 big bazaar stores for value retailing on the discount hypermarket model, 30 food bazaars on the organised food and grocery store format, 3 central stores for mall management in Bangalore, Hyderabad and Pune and one fashion station for the budget shopper.

PRIL is working on some new delivery models. Its `Haat' concept is still at the developmental stage. It is ready with its Home Store — part of the `Home Town' concept, which will be broken down into seven smaller concepts — furnishings and textiles, furniture, consumer goods and electronics, services, electricals, improvements and home dealings. "The first one will start in the next month and will gradually be rolled out. We will be getting into Home Town now in a big way,'' said Mr. Biyani

Through big bazaar, PRIL is looking at public spaces and will be at Inderpuri and Wazirpur metro stations in Delhi in the next few days. "We are looking at bus stands and railway stations. Our other concept `Chamosa' for `chai' and `samosa' stalls is still at an experimental stage.'' Kshitij is an asset management fund in equity partnership with Gaurav Dalmia in which PRIL is invested. It is getting into development of malls and properties but PRIL may or may not be involved in the properties that are being developed.

This year PRIL will enter Lucknow, Meerut, Allahabad, Agra, Jalandhar, Amritsar, Ludhiana, Faridabad, Noida, Mangalore, Visakhapatnam, Vijayawada, Chennai, Kochi and Guwahati with some retail format.

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