Future Group postpones plans to sell stakes in retail formats

Future Group has postponed its plans to sell stakes in some of its retail formats, according to reports. “We are no longer interested in diluting stake in these formats as debt has come down to a comfortable level,” Future Group chairman Kishore Biyani reportedly said. Earlier reports said that the company was planning to sell […]

Radhakrishnan to head KB’s Fairprice

Future Group founder Kishore Biyani has promoted the group’s fresh foods division head, K Radhakrishnan, as the chief executive officer  (CEO) of neighbourhood store chain KB’s Fairprice. Radhakrishnan replaces Damodar Mall, who is moving to Reliance Retail. Incidentally, Radhakrishnan was CEO of the value retail business of Reliance Retail before joining Future Group three years […]

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 […]

Pantaloon’s core retail business shows improvement

It’s been a tough ride but Kishore Biyani’s Pantaloon Retail could be on the mend. For starters, the December quarter numbers suggest that the company’s core retail business is showing double-digit growth after several quarters of anaemic growth. In the December quarter (which was the sixth and final quarter of the company’s financial year as […]

Biyani eyes $1bn biz from Future Fashion in two years

Kishore Biyani plans to re-build his fashion retail business into a $1-billion (around Rs 5,000 crores) entity over the next two years. The retail conglomerate has just unveiled a restructuring — de-merging of fashion, foods and FMCG, hypermarkets and supermarkets into three separate entities and hopes to list Future Fashion. The buzz is that Biyani […]

Pantaloon Retail: Job half done

Pantaloon Retail’s stock had gained 6.5 per cent in November till the announcement of its September results on Friday (post market hours) in anticipation of no negative surprises amid already low expectations. However, it lost 2.32 per cent on Monday (against flat Sensex) as the company disappointed on the profit front even as sales growth […]

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 […]

Future Group to invest Rs 2500 crore in Madhya Pradesh

BHOPAL: Future Group plans to invest Rs 2500 crore in food processing infrastructure development in Madhya Pradesh, official sources said today. This will create direct employment for nearly 6400 people and indirect jobs to over 18,000. The plan to invest Rs 2,500 crore in Madhya Pradesh was conveyed by Futur Group chairman Kishore Biyani during […]

Biyani group set to shed more weight for debt reduction

Kishore Biyani, who controls the Future Group that owns the Big Bazaar chain, is looking at some more stake sales and reshuffling of chunks of his business as he gears to build the second phase of his retail empire. While flagship firm Pantaloon Retail Industries Ltd (PRIL) —which owns Big Bazaar — recently sealed a […]