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 side as well as looking at new opportunities in terms of expanding into existing cities or new cities. While year 2012, proved to be difficult for the retail industry, with retailers and brands adapting heavy discount strategy, the company feels that this year would bring in much needed respite.

Rakesh Biyani feels, apparel has seen a miniscule price correction compared to the growth that they have seen over the last two years. The growth over the last two years due to the excise duty as well as raw material price hike has pushed up apparels prices close to about 25 to 30 percent and that has actually put in a lot of strain on volumes in the industry.

He expects that the budget to address the needs of the industry and with the corrected regime, retailers would be able to offer lot more promotions along with significant amount of volume growth that is required for consumers to be attracted back into the stores.