Future group to double stores, plans to invest Rs 400 crore

CLOSE ON the heels of spinning the flagship Pantaloons chain of stores into a strategic business unit, Kishore Biyani’s Future Group is all set to scale up its presence across the country. Expansion plans will involve doubling of the number of Pantaloons stores by December and entail an outlay of nearly Rs 400 crore, report Writankar Mukherjee & Anuradha Himatsingka from Kolkata. Speaking to ET, Pantaloon Retail India (PRIL) CEO-Pantaloons Sanjeev Agrawal said: “By December 2007, we will have some 50 Pantaloons outlets across the country. The focus will be on tier II and tier III cities. However, stores located in metros will continue to contribute nearly 75% to the company’s topline.” PRIL is the retail arm of the Future Group. Following this, total square feet area covered by Pantaloons stores will increase to 2 million sq ft from 0.5 million. A Pantaloons store typically on an average occupies 20,000 sq ft and entails an investment of Rs 2,500 per sq ft.

Courtesy: EconomicTimes
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