Indian conglomerate Pantaloon Group has confirmed that it intends to expand its retail operations in the east of the country, where it plans to almost double its number of Big Bazaar hypermarkets over the next six months.
A spokesperson Pantaloon Retail, the retail subsidiary of Future Group, told just-food today (24 March) that it will invest INR1.25bn in the current calendar year.
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“Currently, we have 22 outlets in the east which would go up to 40 outlets. Area under operation would be scaled up from the current 1m square feet to 1.6m square feet,” the spokesperson revealed.
The company is targeting urban areas with its hypermarket openings, the spokesperson added.
“Big Bazaars would be opened in cities and towns like Patna, Asansol, Agartala, Silchar, Deoghar, Bilaspur, Ranigunj, Liluah, Gangtok. Currently we have seven Big Bazaars in Kolkata itself. This number would increase to 14 by October.”
The move comes as Pantaloon looks to develop its food retailing businesses. To this end, the group recently created a seperate subsidiary for its supermarket and hypermarket Food Bazaar and Big Bazaar banners, Future Value Retail.
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