Big Bazaar in on expansion spree

Written by Agencies | New Delhi, June 30: | Updated: Jun 30 2008, 19:35pm hrs
Country's leading retail chain Future Group is going for a major expansion of its Big Bazaar chain of outlets, with the company planning to take the total number of stores to 150 by June 2009.

Big Bazaar has presently 92 outlets across the country and have plans to add over 45 stores by the end of June 2009, Future Group Director Rakesh Biyani said.

Besides, the company is also exploring for a 50:50 joint venture with International Group for its kids wear segment.

"We are exploring various proposals and options to maximise our efficiency and operations," he said on the sidelines of the Pure & Play Retail Summit.

When asked about the media reports regarding Future Group plans' to split the company into two specialised segment consisting of front-end and back-end retail, Biyani refused to comment on the issue.

"The company cannot comment on speculated stories run by sources. There is no official announcement or decision in this regards," Biyani said.

He added that the company's expansion will be fully funded, with its own capital.

"The funding plans is being done by preferential allotment and we have already decided about the amount," he said.

Future Group is also starting its own ethnic women's wear stores and the first one will start by August this year.

"A total ethnic in the women' wear category will come up in various cities and the stores will be on 15,000-16,000 sq feet," Biyani added that the company is planning to grow by 15-20 per cent in apparel wear and double its sales of ethnic women wear in the next few years.

The company is also looking for an increase of 50-55 per cent in its total sales over the next five years.