Birla Looking Forward to Indian Retail Sector

May 22, 2007	(Be the first to rate this story!)  Loading ...
Print This Story   Email This Story Subscribe Newsletter

Having carved a niche in construction business, the $24 billion Aditya Group has now set sights on the fast developing retail sector. The group had recently acquired southern retail chain Trinethra, unveiled the brand name of its store – MORE.

Also, the group has plans to invest a whopping Rs 9,000 crore to enter into the $320 billion retail market, of which only 3% is organized. It is believed to be a strategic move which will give the cement-to-telecom company a new platform to go ahead in the organized retail trade in India.

Earlier, Reliance Industries and Bharti Enterprises had similar plans to invest Rs 25,000 crore and Rs 10,000 crore respectively for their retail ventures.

It has been planned to develop stores in two different fioramts which will include the segments like supermarkets and hypermarkets of up to 75,000 sq ft. The first of such kind stores will come up in Pune by June. In the first phase, the company will develop 1,000 supermarkets. However, no such criterion has set for the hypermarkets. The different format of stores will come under a single brand name – MORE.

Commenting on the features of its retail venture, Aditya Birla boasts of offering a world class shopping environment along with cost effective products and services. The group enjoys a strong presence in south India through Trinethra, which has 170 outlets.

The group is also considering expanding its retail horizon in big metros. The move is bound to encourage another round of demand for properties across the country. AS for now, the group does not seem to be interested in a joint venture, either domestic or overseas, for the retail foray.

News Published Under:   Retail Market in India |

Comments