Pantaloons to invest Rs 175 cr

Plan retail expansion; to invest Rs 15cr in each store.

Pantaloons Fashion plans to expand its retail presence in smaller cities and towns. For this the retailer will invest Rs 175 crore in next 12 months, 60-70 per cent of which will be in smaller towns. The company has been taken over by Aditya Birla Nuvo Ltd from April onwards 2013, under a deal which was inked between ABNL and Future Group in 2012.  The firm recently opened its first flagship store in Chandigarh and is targeting other places, including Dehradun, Pune and Kalyan. The brand is targeting one store a month and each store will be set up with an investment of  Rs 15 crore. According to Shital Mehta, who recently joined in as CEO, Pantaloons Fashion & Retail Ltd, the brand will be targeted at the youth in 'Bharat', who are entering the consumption brigade. The focus will be to offer affordable fashionable ethnic wear.