Pantaloon Retail (India) Ltd., the Rs. 2,199 crore flagship of Kishore Biyani owned Future Group is accelerating its expansion plans.
Having already opened five Pantaloon stores this year, it is on its way to open five more new stores. It also plans to open ten more Pantaloon stores next year. This would mean doubling of the of stores in two years.
Similarly, Pantaloon wants to rapidly expand its network of “Central” malls. Presently, there are three Central malls operating in Hyderabad, Pune and Bangalore, while the fourth Central mall is slated to open in Vadodara soon. Central malls, which have been conceptualised around the theme of “Shop, Eat and Celebrate,” are spread over large spaces in the heart of cities. They offer several unique features to the customers. Pantaloon has plans to open six “Central” malls next year with another six more malls in the next year after that.
The opening of Pantaloon and Central outlets will result in the improved revenues from the lifestyle segment vis-a-vis value segment.Pantaloon is quite bullish on opportunities in both the segments.