Mar 11, 2019
Future Retail earmarks Rs 200 crore to strengthen Big Bazaar network
Mar 11, 2019
Future Retail, the retail entity of the Future Group has earmarked an investment of Rs 200 crore (28.6 million) to strengthen the retail presence of its Big Bazaar stores in the eastern region of India.
The company is planning to add around 25 Big Bazaar stores in the eastern region which is a strong revenue generating region for Future Retail. The eastern region contributes 25 percent to the company’s national sales. Future Retail reported a total income of Rs 18,489 crore ($2.8 billion) for the last financial year.
Future Retail’s expansion in the east will focus on states like West Bengal, Bihar, northeast, and Odisha.
"We have a pipeline of around 25 Big Bazaar stores in the eastern region. Each store requires an investment of around Rs 2,000 per square feet for interiors only," the CEO of the eastern region of Future Retail, Manish Agarwal, told PTI.
“The eastern region contributed 25 percent of the national sales, with West Bengal accounting for 30 percent of the revenues from the east. The company would open seven to eight stores in Kolkata and its suburbs of the 25 outlets it plans to open in the east next fiscal,” Agarwal added.
Future Retail is the highest revenue generator for the Future Group and has around 286 Big Bazaar stores, 89 FBB stores and 1,050 small format stores spread across the country.
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