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Retail race to be accelerated with Birla's foray
30 Nov '06
1 min read
The Indian retail saga has the latest powerful chapter in the name of Aditya Birla Group as the giant organization has taken decision to plunge in to retail world in the next seven or eight months.
Without any domestic or foreign alliance, the Birla group will accrue finance from promoters. The Birlas will be the new stakeholder in $300-billion Indian retail block.
At the onset, the group will invest Rs5000-6000 crores, informed company sources. The multi-format stores will be opened in small cities to cater products like food and grocery and general merchandising including consumer durables.
The company has already recruited top management for its supply-chain, vendor development, IT management and customer care department.
Without any domestic or foreign alliance, the Birla group will accrue finance from promoters. The Birlas will be the new stakeholder in $300-billion Indian retail block.
At the onset, the group will invest Rs5000-6000 crores, informed company sources. The multi-format stores will be opened in small cities to cater products like food and grocery and general merchandising including consumer durables.
The company has already recruited top management for its supply-chain, vendor development, IT management and customer care department.
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