KOLKATA: Kishore Biyani’s Future Group has decided to invest more than Rs 125 crore over the next six months to expand the Big Bazaar chain of hypermarts in the East. The group intends to nearly double the number of Big Bazaar outlets from 22, at present, to 40 by October in the region.
The latest thrust on expansion comes at a time when the group is betting on community retailing as the new business model for Big Bazaar. It has also created a sub-brand ‘Big Bazaar Family Centre’ that is completely focused on community retailing and is spread over 60,000-70 ,000 sq ft as compared to a Big Bazaar store spread over 35,000-40 ,000 sq ft.
In fact, the Future group also plans to reorient all the existing Big Bazaar stores in the region as per this new business model. It has plans to convert two existing Big Bazaar stores inRanchi
“At present, Big Bazaar is spread over 10 lakh sq ft in the East. We will add another 6 lakh sq ft as part of the expansion process. While earlier the focus was to drive returns on a per sq ft, the model of this format has now changed completely. We now want to include products which may not lead to volume sales but will cater to the entire shopping basket of a family,” said Future Value Retail chief operations (East) Manish Agarwal.
Future Value Retail, a wholly-owned subsidiary of the Future Group flagship Pantaloon Retail India Ltd, is a newlyformed company that owns the value formats—Big Bazaar and Food Bazaar.
As part of the expansion plan, Future Group will also enter into several newer markets in the East likePatna
“We’ve already acquired real estate for the new stores and they are under various stages of development. Once the proposed Big Bazaar expansion is complete, we will look at new opportunities for standalone Food Bazaar stores in the East,” said Mr Agarwal. Source: ET
The latest thrust on expansion comes at a time when the group is betting on community retailing as the new business model for Big Bazaar. It has also created a sub-brand ‘Big Bazaar Family Centre’ that is completely focused on community retailing and is spread over 60,000-70 ,000 sq ft as compared to a Big Bazaar store spread over 35,000-40 ,000 sq ft.
In fact, the Future group also plans to reorient all the existing Big Bazaar stores in the region as per this new business model. It has plans to convert two existing Big Bazaar stores in
“At present, Big Bazaar is spread over 10 lakh sq ft in the East. We will add another 6 lakh sq ft as part of the expansion process. While earlier the focus was to drive returns on a per sq ft, the model of this format has now changed completely. We now want to include products which may not lead to volume sales but will cater to the entire shopping basket of a family,” said Future Value Retail chief operations (East) Manish Agarwal.
Future Value Retail, a wholly-owned subsidiary of the Future Group flagship Pantaloon Retail India Ltd, is a newlyformed company that owns the value formats—Big Bazaar and Food Bazaar.
As part of the expansion plan, Future Group will also enter into several newer markets in the East like
“We’ve already acquired real estate for the new stores and they are under various stages of development. Once the proposed Big Bazaar expansion is complete, we will look at new opportunities for standalone Food Bazaar stores in the East,” said Mr Agarwal. Source: ET
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