Pantaloon aims to increase store count to 150 in two years

A slump in the economy and low consumer buying has not affected the retail

expansion plans of Pantaloon Fashion & Retail, now owned by the Aditya Birla group. The company aims to increase its store count from 77 to 150 in 2 years. It has also announced double-digit increment to its workforce.

Media reports suggest that after picking majority stake in the chain in April 2012, previously owned by Kishore Biyani’s Future Group, the company plans to invest around Rs 20 crores per new store opening. Keeping the growth momentum and rise in consumer awareness in smaller towns in mind, the new stores would focus on Tier II towns across India. Plans are also afoot to open independent outlets of its ‘power house brands’.

A fashion council has been established comprising Rakesh Biyani, CEO of the retail business of the Future Group, Kailash Bhatia, head of the fashion business of the group, and Pranab Barua, CEO of apparel and retail of the Aditya Birla group that aids and advice the management of Pantaloon.

The company reported revenue of Rs 1,285 crores during fiscal 2012-13. It opened six new Pantaloons stores and three Pantaloons Factory outlets during the nine months ending March 31, 2013.