The country’s significant retailer, Pantaloon Retail is all geared up to merge its home solutions with itself in order to give fillip to the plans of its home retailing business post merger. Currently, the business is run by Home Solutions Retail India Ltd (HSRIL) that comprises stores like E-Zone, Electronic Bazaar and Home Town. The merger would activate in 6-8 weeks ahead which had seen its merger in February.
Pantaloon Retail has recorded its revenues around Rs. 2,311 crore in the third quarter March 2010. Around 18% came from home solutions business. It is reported that Value retail accounts for 62% of the overall Pantaloon revenues.
More E-Zone stores, around 22, are expected by HSRIL in the current fiscal along with 66 stores already into the operational activities, with an average size of 10,000 sq. feet per store. Along with the achievement of the same store sales (SSS) growth of 45% , the company is targeting the metros and the tier I cities for expansion.
Pantaloon’s home solution segment is on the growth roost with last quarter growth record of 30%. The core source being the electronic goods which have taken the sales growth to the next level. But post merger, the company is still tight- lipped on the new role and its strategies.