Pantaloon Retail news and archive

Future Group launches youth store brand ‘I am In’

A year after selling off its Pantaloon fashion division to Aditya Birla Nuvo for Rs 1,600 crores, Kishore Biyani is back in the fashion business. The Future Group is set to re-enter the fashion space with an altogether new store brand ‘I am In’. As was the case of Pantaloon, these stores will be owned by the Future Group, but will be much...

Apparel

Biyani starts afresh by bringing old biggies on board

Future Group owner Kishore Biyani is preparing to make an aggressive comeback with reduced debt pressure after the demerger of fashion business and sale of insurance business. The buzz is, Pantaloon Retail's total debt will come down to around Rs 2,000-Rs 2,500 crores by the end of June quarter post the completion of both the transactions. And...

Apparel

Pantaloon to sell 50 percent Future Generali stake to L&T Finance

Recent media reports suggest L&T Finance plans to buy Pantaloon Retail's 50 percent stake in the general insurance business of Future Generali for an estimated Rs 560 crores. The deal values Future Generali India Insurance Company approximately at Rs 1,100 crores. Sources say, Pantaloon Retail would be exiting the venture by selling 50 percent...

Apparel

Pantaloon's debt pressure to reduce by June quarter

Future Group owner Kishore Biyani is preparing to make an aggressive comeback with reduced debt pressure after demerger of its fashion business and sale of insurance business. According to the industry experts, Pantaloon Retail's total debt will come down to around Rs 2,000-Rs 2,500 crores by the end of June quarter post the completion of both...

Apparel

Pantaloon looks forward to positive 2013

As Future Group readies to bounce back with lowered debt pressure and realignment of its fashion and value business, which includes home business under two separate retail operating companies, the company looks forward to a positive year ahead. The company would follow its strategy of expanding portfolios as well as retail -- both on the sale...

Apparel

FFIs pick up 55 lakh shares of Pantaloon

Goldman Sachs Investments Mauritius and Morgan Stanley Asia (Singapore), two well known FFIs, have purchased 55 lakh shares of Pantaloon Retail for an estimated Rs 144 crores. The shares were purchased through bulk deals on the stock exchanges. The transactions occurred after the Reserve Bank eased restrictions on the purchase of shares in the...

Apparel

Future Group demerges fashion biz, forms ‘Future Fashion’

After the announcement of demerger plan of its fashion businesses last week, the stocks of Pantaloon Retail and Future Ventures India are expected to witness a heightened activity this week. According to the plan, all fashion brands currently held by Pantaloon Retail and Future Ventures, will be transferred to Future Fashion, along with a debt...

Apparel

Birla-Pantaloon deal to suffer valuation drop

Citing Pantaloon Retail’s June quarter results which fell below the estimated mark, Aditya Birla Nuvo has decided to rework its deal for a controlling stake in Pantaloons, leading to a slight valuation drop. Recently, it was reported that the deal proposal between the two was sent back by the Competition Commission of India (CCI) terming it as...

Apparel

Birla-Pantaloon deal faces CCI hurdle

The much touted deal between Aditya Birla group and Kishore Biyani’s fashion apparel business Pantaloon has faced a roadblock with Competition Commission of India (CCI) sending back the proposal terming it as premature and lacking a nod from the boards of the respective companies. “The commission is of the view that the parties have given the...

Fashion

Worried apparel retailers prepone discount sale season

Worried single brand retailers such as French Connection, FCUK, Regal, Guess, Puma and Fila have pre-poned the sale season this summer. The brands have gone ahead and started discounted sales in the last week of June, two or three weeks ahead of the usual schedule to cash in on the current consumer sentiment. They fear that the economic slowdown...

Apparel

BCCL increases stake in Pantaloon Retail

After Aditya Birla Nuvo’s announcement to invest Rs 1,600 crores in Pantaloon and acquire a majority stake in the store chain now it’s Bennett, Coleman & Co Ltd (BCCL) which has increased its stake in the Future Group firm. They have purchased 8,163,265 additional equity shares representing a 3.79 per cent increase in its stake to total of 5.83...

Apparel

Same-store sales hurt lifestyle retailers

Poor demand has resulted in lifestyle retail chains witnessing weak same-store sales in the quarter ended March 2012. Moreover they foresee lower growth in the fiscal. Interestingly driven by new stores, most retailers saw 20-30 per cent sales growth in the quarter. But same-store sales saw single digit growth. Same-store sales are an important...