Pantaloon Retail India, the country’s largest retailer, plans to divide its business into three separate subsidiaries in a bid to gain “greater focus”.
Pantaloon Retail will be renamed Future Market and Consumer Group. It will be a holding company and operate in the food, FMCG, consumer durables and home products sectors.
A spokesperson for the company told just-food that the move will establish three distinct businesses of fashion, retailing, and FMCG and consumer durables.
The spokesperson said that the clearer division between units is expected to provide the respective businesses with “greater focus” but added that the company is not currently able to provide an indication of whether cost savings are anticipated.
“The realignment reflects the business design that has evolved over time and will allow a more focused approach to the three distinct businesses: FMCG and consumer durables, fashion and retailing,” the spokesperson told just-food.
“It will also help us in more efficient raising and allocation of funds and resources for business expansion in each of the three companies that have been formed.”
