Pantaloon Retail, India’s largest publicly-listed retail chain, has signalled plans to open 1,500 KB’s Fair Price discount stores nationwide within the next three years.
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Pantaloon said the success of the 20 KB’s Fair Price stores up and running in New Delhi had encouraged it to expand the business.
KB’s Fair Price managing director Saurab Chadha told just-food: “The pilot stores have been well received and it is the obvious next step now to expand fast.”
Pantaloon is aiming to open some 250 outlets in New Delhi and Mumbai within the next two years.
Some 15 KB’s Fair Price stores will be open in Mumbai later this month, followed by another 20 in February.
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By GlobalDataPantaloon’s retail rivals, including Reliance Retail, have also been quite busy opening smaller, discount stores in India over the last 12 months.
Industry watchers believe this format will ease sceptical Indian consumers into shopping at organized retail outlets, away from smaller “mom and pop” style stores.
