Cautious aggression is the new strategy for More’s comeback

Aditya Birla Group’s retail chain ‘More’, which closed more stores than it opened in the last four years, is changing tack. Its new strategy: Open more stores but only those that work with customers. ‘More’, which closed nearly 150 supermarkets in the last four years, is looking at opening 100 supermarkets every year in the […]

Aditya Birla Retail aims to open 100 supermarkets every year

Aditya Birla Retail, retailing arm of Aditya Birla group, is looking at opening 100 supermarkets under ‘more’ brand every year in the next three years, including this year, to bolster its retail presence. Birla Retail is planning to open half dozen hypermarkets next financial year. Birla’s plans come after the retailer closed 40 supermarkets in […]

Birla Retail aims to open 100 supermarkets every year

Aditya Birla Retail, retailing arm of Aditya Birla group, is looking at opening 100 supermarkets under ‘more’ brand every year in the next three years, including this year, to bolster its retail presence. Birla Retail is also planning to open half dozen hypermarkets next financial year. Birla’s plans come after the retailer closed 40 supermarkets […]

Peter England eyes young India, readies all-new ‘concept’ stores

Madura Fashion and Lifestyle, part of the diversified Aditya Birla Group, today said its brand Peter England will open concept stores for working professionals by the end of the year. “Peter England Generation is a brand new retail identity, a unique concept store that helps young professionals to progress through the first decade of his […]

Aditya Birla’s PE arm to offload 14% in V-Mart IPO

Diversified conglomerate Aditya Birla group’s private equity arm will offload a 14% stake in VMart as the New Delhi-based departmental store chain began its roadshow for an Initial Public Offering expected to raise Rs 125 crore. The Birla fund will retain 9% stake in the retailer even as its investment rises more than three folds […]

Korean retail major E-Land eyes Spykar acquisition

South Korean retail major E-Land Group and private equity firm India Value Fund (IVF) are said to have signed non-binding agreements to acquire controlling stake in home-grown denim brand Spykar Lifestyle. Earlier it was reported that Spencer’s Retail, Flagship Company of RP-Sanjiv Goenka Group had joined the race to acquire the biggest domestic denim player. […]

Aditya Birla group exits race to acquire Northern Iron

Aditya Birla group has pulled out of the race to acquire Australia’s Northern Iron Ltd, citing variability in production at Sydvaranger iron project of the firm and its impact on costs. “On November 3, 2012, Essel Mining advised NFE that following its stage two detailed due diligence investigations, it was not in a position to […]

Modern retail rehauls operations

The modern retail businesses in the city are changing their selling proposition and readjusting their presence to suit the changing paradigm of buyer preference that suggests a need to be in large formats to be able to offer a wider array of products. The shift in strategy has entailed closure of many retail outlets and […]

Pantaloon to curb expansion, focus on 16 cities

Pantaloon Retail India Ltd, the country’s largest retailer, is consolidating its business in the top 16 cities and a surrounding network of secondary cities, exiting from smaller towns that don’t fit into this network, a top company official said. The consolidation would help Pantaloon Retail improve profitability as it looks to get investors on board […]