Pantaloon Retail plans to separate the management of its Food Bazaar and Big Bazaar food retail and hypermarket units from its other retail businesses.
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The move comes in response to rising business volumes, with fourth-quarter profits in the segment increasing 74%, the company told just-food.
“It has become a challenge running a US$4bn business and we hope to manage our bigger businesses independently,” Pantaloon director Kishore Biyani told just-food.
“We will increase our selling space from 11m square foot to 15m square foot this financial year,” he added.
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