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| Future group draws out expansion plans |
| BS Reporter / Mumbai/ Ahmedabad Nov 14, 2009, 00:13 IST |
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After opening 50 stores of various formats in the current fiscal, the Kishore Biyani-led Future Group has chalked out plans to open six Central mall and seven Brand Factory outlets across the country in the next six months.
At an investment of Rs 250 crore, the group is planning to expand its presence to cities like Surat, Raipur, Jaipur, Vizag, to name a few through both the formats. "We are planning to launch six more Central at Surat, Raipur, Jaipur, Vizag and two in Mumbai, besides seven in Brand Factory across the country in six months' time," said Vishnu Prasad, CEO, Central and Brand Factory, on the sidelines of the launch of Ahmedabad Central, today.
Ahmedabad Central is the group's 12th in the country and second in Gujarat. The mall, spread over 130,000 square feet, aims to provide costumers the retail experience of choosing and comparing between 500 national and international brands of clothes, accessories, footwear, cosmetics, to name a few, besides housing food outlets and providing free makeovers.
"We are expecting Rs 100 crore in the first year from Ahmedabad Central. Our first such mall in Gujarat Vadodara Central experiences 24 lakh walk-ins per year," Prasad said, adding the group has invested atleast Rs 35 crore for Ahmedabad Central.
Led by its flagship enterprise, Pantaloon Retail, the group operates over 12 million square feet of retail space in 71 cities and towns and 65 rural locations across India. Other subsidiaries of the group include its hypermarket chain Big Bazaar, book and music chain, Depot, sportswear retailer Planet Sports, electronics retailer eZone, home accessories chain, Home Town and rural retailer Aadhar, financial arm Future Capital Holdings, insurance venture Future Generali and entertainment segment Galaxy Entertainment.
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