Kishore Biyani owned, India’s biggest listed retail company, Pantaloon Retail (India) launched 41st of its Big Bazaar, hypermarket store in Hyderabad, on Friday, the 5th. Set up with an investment of Rs. 15 crore and housed in 52,000 sq. ft. of retail space, this is the second of the planned seven Big Bazaar stores in Hyderabad. The company has planned to have an equal number of stand alone Food Bazaars in the city. Pantaloon expects to gross Rs. 100 crore in turnover from this store located on the busy RTC Cross roads of the city. Locations for the balance five Big Bazaar stores in the city have also been finalised.
Pantaloon is planning to take its tally of Big Bazaars in the south from present 11 to 30, around 50% of which will be in tier II cities, including 15 new locations like Vijaywada and Visakhapatnam.
The discount format, Big Bazaar value store chain, presently grosses combined turnover of 2,000 crore and offers 1.6 lakh items for sale.
Speaking to media persons on the occasion, Rohit Malhotra, Head Operations-Pantaloon (South Zone) said that the company has planned to reach the 100 stores target for Big Bazaar within a few months. It may be recalled that Pantaloon had earlier announced its plans to open 100 Big Bazaars prior to Bharati-WalMart retail chain making its planned debut in India in mid-August, 2007.