Aditya Birla Nuvo’s (ABNL) - Pantaloons Fashion & Retail will be investing up to Rs 175 crore in the next 12 months on store expansion across India, mainly in smaller towns. It is targeting to open at least one store per month in the next 12 months at an investment of up to Rs 15 crore per outlet. The firm opened its first flagship store in Chandigarh last week and is targeting other places, including Dehradun, Pune, Kalyan.
Pantaloons Fashion & Retail has recently undergone a change of ownership and became part of ABNL effective from April this year. Pantaloon currently has 71 stores across 35 cities. It has about 20-25 power house brands which could be developed into standalone labels in future and even open independent outlets for them.
ABNL had entered into an agreement last year with the Future Group to infuse Rs 1,600 crore into Pantaloon and acquire a majority stake in the store chain and later demerge it to be listed as a separate entity.
Company Name | CMP |
---|---|
Grasim Industries | 2436.85 |
DCM Shriram | 1009.55 |
Birla Corporation | 1489.00 |
Surya Roshni | 581.80 |
Century Textile &Ind | 2169.90 |
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