Big Bazaar set for Esplanade launch

Big Bazaar, the retail outlet chain of the Future Group, known for heavy discounts on consumer goods is betting on ethnicity for a first of its kind Big Bazaar store in Kolkata's Esplanade.

The 37,000 square feet store, will come up in the 100- year old Metropolitan Buildings, currently owned by Life Insurance Corporation (LIC), in the heart of the city.

The heritage building was the home of one of the oldest retail outlets in Kolkata - the government-owned Khadi & Village Industries Commission showroom. Yet, the two retail outlets would not showcase stark contrasts, as the Big Bazaar range would be in keeping with the venerable domes and arches of the building.

Till the 1950s, it used to house a huge foreign-owned departmental store called Whiteway & Laidlaw that closed down after imports and foreign ownership of stores were restricted by the government of independent India. The site will be developed by real estate developers, the Eden Group, which has also entered into a revenue sharing deal with the Future Group. According to market sources, the deal should fetch monthly revenue of around Rs 30 lakh to the Eden Group.

According to Jitendra Khaitan, CEO of Pioneer Properties, who facilitated the deal, LIC has leased out the space to the Eden Group for 18 years.

The outlet will not only be designed to suit the impressive facade of the building, but it will also sell ethnic Indian handicrafts and fabrics to retain the ethos of the site.

Renowned architect, Dulal Mukherjee has been roped in by the company for renovating the site.

"We are designing the site, so as to retain the unique feel of the place. It should be in keeping with the look of the building. While there will not be a major change in the product range, the décor of the building will be designed according to the existing structure," said Atul Takle of the Future Group.

According to Sachi Ray of the Eden Group, the project is slated to be completed by the end of November this year.

"The rationale behind starting the concept in Kolkata, was the company's strong emotional attachment with the city. The first Pantaloon store in India was started in Kolkata," said Takla.

The Future Group will also be opening a mall inside another heritage building on Strand Road, the Mackinnon & Mackenzie House.