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Future Group to launch 50 more Pantaloon outlets

01
Dec '10
Future Group recently revealed that, aiming to add more youngsters to its consumer base, it has decided to bestow a new look to its apparel and accessories chain, and has also planned to raise the number of its flagship multi-brand 'Pantaloon' outlets to almost double over the next three to four years' duration.

Pantaloon Retail India, the Group company which recently launched its 50th outlet, spread on an area of 31,109 sq ft, intends to launch another 50 outlets in various metros and small towns across India over a period of next three to four years, Future Group Director and CEO (Retail) Rakesh Biyani told media.

He informed that, the launch of 18 such outlets is already underway and the company has inked deals with several real estate developers with regard to another 12 outlets.

India's seven major cities together with several state capitals would remain to be the company's main focus for its expansion plans.

Usually, a Pantaloon outlet is laid over an area of around 25,000 – 30,000 sq ft, Biyani said.

The Future Group, at the very start of November, announced to invest Rs 21 billion for the expansion planned over the next three years' time, and expenses for setting up new Pantaloon outlets would be funded from the same.

Over and above this, as the Group is planning to target more youngsters, and is embarking on an image makeover for its Pantaloon outlets by making them more vivacious and colourful, has already started this for its latest outlet.

By bestowing the outlets with a new look and feel, the company is eyeing to target rich youngsters with high purchasing power. Also the Group intends to revamp all its present outlets, particularly those in metros within the next two to three years, Biyani stated.

Pantaloon Retail India's turnover for the initial three months that ended on September 30 this year stood at Rs 25.8142 billion, up from Rs 19.5421 billion during the corresponding period last year. Meanwhile, its net profits for the period under consideration too increased to Rs 427.6 million from previous year's Rs 263.3 million.

Fibre2fashion News Desk-India


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