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Future Group plans 60-odd Big Bazaar stores

The Future Group CEO, Rakesh Biyani declared that the company would invest Rs 600 crore


June 21, 2010  |  comments ( 8 )  | 
Future Group plans 60-odd Big Bazaar stores

The Future Group CEO, Rakesh Biyani declared that the company would invest Rs 600 crore over 18 months  to open around 60-odd Big Bazaar stores, during the launch of 70,000-sq. ft. family store at Express Avenue in Chennai. The floor space of the proposed stores is estimated to be between 40,000 sq.ft and 60,000 sq. ft.

 

“Funding for the expansion will be done mostly through internal accruals. The retail group will continue to grow at 30-35 per cent,” he said.

 

With the introduction of new technology systems, the company has managed successfully to reduce the checkout time by about 150 per cent on the cash out time. Since the technology has proved successful in 40-odd stores the company is planning to install the system in other 132 stores also. 

 

Biyani also spoke on the completion of the merger of the subsidiary company, Home Solutions Retail India Ltd (HSRIL) that administers the consumer retail electronics chain stores, e-zone.

 

“As shareholders have given their nod to the merger of HSRIL with Pantaloon retail, the merger processes will be completed at the earliest. The consolidation is to integrate the supply chain and the back-end process. The home business segment has grown slowly in the last 12 to 14 months. To ride the rebound, we plan to open 73 e-zone stores, starting initially with 21 stores and add 12 to 15 stores in the successive phases of expansion.”

 

Chennai is one of the fastest growing cities in the country and to cater to the exploding needs of the people, shopping solutions under one shed would offer expected results for the retail stores.

 

In the present scenario, South India has around 33 stores in its basket with major cities like Bangalore, Chennai and Hyderabad having alone 10, 4 and6 stores respectively.


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Monica Priya March 27, 2012 at 12:39 am

Please let me know how much investment have to be done for opening a franchise in nellore if it is more to my level i need a job if it is going to be open in nellore.As iam a Purchase Executive Thanks Monica

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vikram soni May 29, 2011 at 2:49 am

i want to get franchise of big bazaar...plz let me know.

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Smriti Gupta December 07, 2010 at 9:59 am

I would love to be a part of the Future family and expand the market for the Future group in Jammu

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gaurav sharma July 01, 2010 at 12:01 pm

i would feel happy if big bazaar gives me a chance to expand their business in jammu.

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gaurav mehta June 26, 2010 at 8:38 am

interested to open big bazaar in sirsa

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dheeraj kumar June 23, 2010 at 9:28 am

Interested to venture with your business in Patna. I think, would be one of best place to enter considering the consumer habits and already proved in recent times.

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kuldeep gupta June 23, 2010 at 8:59 am

i would feel happy if big bazaar family accepts me to open their prestigious store in Jammu.

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VIJESH PHUTELA June 21, 2010 at 11:56 pm

I would like to open Big bazaar Store at sirsa Haryana.

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