Tata's Star Bazaar to reduce store size
Plans to have stores measuring 20,000-30,000 sq ftFebruary 04, 2014 | comments ( 0 ) |
Hypermarket chain Star Bazaar aims to halve the size of its upcoming stores. The announcement has come after two months since Tata has signed a JV with British retailer Tesco.
Presently, Tata group-promoted Trent Hypermarkets, operates its store covering the area of 40,000-80,000 sq ft under Star Bazaar brand. The company now aims to operate outlets measuring 20,000-30,000 sq ft. An official spokesperson from Tata stated, “The strategy to reduce store size is to achieve faster profitability. “
Although Star Bazaar had set up its first store in 2004, it is yet to achieve profits. In FY13, the chain registered a net loss of Rs 72 crore on net sales of Rs 785 crore.
“Hypermarket is low-margin business. If you are not careful in expansion, you will blow it up,” said the executive quoted above.
- Welspun group aims Rs 1,000 crore turnover from new flooring line
- Miniso eyes sourcing Indian products to Australia & US
- Trek Bicycles plans to expand retail stores across India
- Vision Express starts its 16th store in New Delhi
- BlueStone launches its first store in Mumbai
- Splash Fashions to expand its digital presence
- Toonz Retail opens store in Dwarka
- Mufti expands into footwear category
- Fashion e-tailer Craftsvilla plans to open 1,000 outlets in 2019
- Taneira to launch 50 stores in 5 years