Aditya Birla Nuvo to open 20 Pantaloons stores this fiscal

After acquiring a majority stake in Pantaloons fashion chain, Aditya Birla Nuvo will

invest Rs 150 crores this fiscal to add around 20 stores. In an investor's update, Pantaloons' parent company Aditya Birla Nuvo said, “Full year capex (capital expenditure) guidance for Pantaloons stands at Rs 150 crores towards addition of 18-20 new stores to reach 100 stores mark.”

The company added that the investment will also be utilised in refurbishing 21 stores through infrastructure and assortment upgrade. Last month, Pantaloons had announced its plans to raise up to Rs 500 crores through various means, including a rights issue this year to fund its growth capital requirements.

Agile, Rang Manch, Akritii, Trishaa, Honey, Chalk, Annabelle and Alto Moda are some of the leading private brands from Pantaloons, which are now owned by Birla Group. The company now retails three of its own private brands at Pantaloons and is in the process of introducing three more private brands this Diwali. These brands include Byford, a British country inspired sport lifestyle brand for men, Moda targets plus sized individuals and Chirpie Pie is created exclusively for infants in the age group 3-24 months.

Pantaloons has stopped selling Biyani’s plus-size brand called All and has also cut down on John Miller shirts range.