Aditya Birla to enter speciality retail
Plans to add 160 stores under ‘more’ brand
June 01, 2011 | comments ( 0 ) |
Announcing its aggressive retail plans, Aditya Birla Retail Ltd, the retail arm of the $ 29.2 billion diversified Aditya Birla Group is considering entering the speciality retail segment. The company plans to add over 160 new stores under its ‘more’ brand this fiscal at an investment of Rs. 300 crore.
The company currently operates 560 super markets (size ranging from 2,500 sq ft to 4,000 sq ft) and 10 hypermarkets (55,000 to 60,000 sq ft) under the ‘more’ brand.
“We are currently exploring some other speciality formats, like speciality but the plan is at a preliminary stage,” Aditya Birla Retail Ltd CEO Thomas Varghese told PTI. He, however, did not elaborate the categories that the company would be considering and ruled out the food and grocery, apparel and electronics segments completely.
In the current fiscal, ABRL plans to open 150 new supermarkets and 12 new hypermarkets this fiscal with a planned investment of Rs. 300 crore. The company has also opened a new hypermarket in Delhi.
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