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News Flash
Birla Group plans to foray into retail realm
07 Nov '06
1 min read
Aditya Birla Group has formulated a strategy which is larger than that assumed by industry analysts. It will undertake the country's second biggest retail expansion with a budget of Rs15,000 crores for more than 6000 outlets by 2009.
Birla's plans will be declared soon and they are similar to RIL's plans. Company is not entering into partnership with any foreign retail giant, and it is following a multi-format policy which includes range of general stores to specialty outlets and supermarkets to hypermarkets.
Sumant Sinha, Chief Financial Officer of the company, has taken charge of the venture. Birla plans to launch its first stores by mid-2007.
Aditya Birla Group has been retailing Van Heusen, Allen Solly and Peter England brands for last 15 years under the label of Madura Garments. It also owns the renowned Grasim brand of fabrics.
Birla's plans will be declared soon and they are similar to RIL's plans. Company is not entering into partnership with any foreign retail giant, and it is following a multi-format policy which includes range of general stores to specialty outlets and supermarkets to hypermarkets.
Sumant Sinha, Chief Financial Officer of the company, has taken charge of the venture. Birla plans to launch its first stores by mid-2007.
Aditya Birla Group has been retailing Van Heusen, Allen Solly and Peter England brands for last 15 years under the label of Madura Garments. It also owns the renowned Grasim brand of fabrics.
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