Pantaloon Retail (India) Ltd on Friday said it would set up a joint venture company with Liberty Shoes Ltd for the business of footwear retailing.
With a view to become a leading office products provider, Pantaloon Retail India has entered into a joint venture with US-based Staples Inc and its new business unit, Future Office.
Having almost sealed a JV with coffee chain Starbucks and fast food chain Burger King for a possible alliance, retail major Pantaloon is eyeing the apparel space.
Pantaloon Retail India Limited (Pantaloon) is planning a big push to its spread in the western India region as it will take the number of its family store Big Bazaar to 70 by the end of the current year.
Pantaloon Retail is eyeing the Rs 30,000 crore (Rs 300 billion) consumer durables retail market, excluding mobile phones and IT products.
Pantaloon Retail Ltd, the country's largest retail company, and Future Value Retail Ltd, recently carved out from Pantaloon as a 100 per cent subsidiary, plan to issue non-convertible debentures worth Rs 750 crore in the next three-four months, according to sources.
Though the exact amount of stake dilution is not known, Pantaloon Retail's Managing Director Kishore Biyani said the company would divest more than 20 per cent shares. Future Ventures will house the company's JVs and new ventures.
Looking to set up food courts and specialty restaurants across the country, leading retailer Pantaloon Retail India Ltd has decided to form a joint venture company with Blue Foods Pvt Ltd.
According to estimates, entry into India would enable Starbucks to triple its stores to 40,000 worldwide by expanding into emerging markets.
Global retail major Wal-Mart's entry into India through an alliance with Bharti Enterprises could change the market dynamics, but domestic player Pantaloon Retail India Ltd appears game to take on the competition.
Pantaloon Industries Ltd said on Tuesday its subsidiary Indus-League Clothing will form a 50:50 joint venture company with Lee Cooper International Ltd to distribute and retail its brands in India.
Pantaloon Retail (India) Ltd on Monday reported a 105 per cent year-on-year growth in retail sales in August at Rs 146 crore (Rs 1.46 billion) and said it would open a series of outlets under its various brands in the next three months.
Pantaloon Retail India Ltd said on Monday it has signed a memorandum of understanding with Manipal Health Systems Pvt Ltd to form a joint venture healthcare company.
The company obtained its shareholders' approval for its plans in the extraordinary general meeting held on Tuesday. This is the second time the Kishore Biyani-led Pantaloon is using the QIP route to raise money. The first time was three years ago, when the company raised Rs 260 crore (Rs 2.6 billion) by selling shares to institutions in 2006.
Kishore Biyani-promoted Future Group company Pantaloon Retail is hiving off four of its business divisions, including Big Bazaar and Food Bazaar, into independent subsidiaries, keeping the option open for listing them in future. The Board of Pantaloon Retail on Tuesday approved setting up of wholly-owned subsidiary companies for Big Bazaar, Food Bazaar, Speciality Retail Business Activities and Property and Mall Management Division.
Analysts believe that Pantaloon want to establish itself strongly in multi-brand retailing and exploit the first-mover advantage in speciality brands.
A meting of the Board of Directors of Pantaloon Retail India Ltd will be held on January 31, 2003 to consider allotment of 8,65,000 equity shares of Rs 10 each at a price of Rs 50 per share.
UK-based Alpha Airports and Future Group's Pantaloon Retail have won a contract valued at Rs 500 crore (Rs 5 billion) to set up duty-free shops at Indira Gandhi International Airport in New Delhi.
Earlier, there were reports about Pantaloon tying up with the Seattle-based coffee chain Starbucks for its India foray.
Pantaloon Retail, the country's largest retailer, is looking at increasing the prices of its apparel products up to 18 per cent, to improve margins in the coming quarters, said a top group executive.
The shareholders have approved sale of the firm's fashion division, including the entire investment in Home Solutions (Retail) India, to its wholly-owned subsidiary, Future Value Retail and sale of its retail division to subsidiary Future Speciality Retail, Pantaloon said in a filing to the Bombay Stock Exchange.
Retail chain set to spin off Big Bazaar, Food Bazaar, create holding firm.
The company's total debt is Rs 5,500 crore (Rs 55 billion) as of December 31, 2012.
The infectious swine flu, is now impacting retail sales, with the Future Group subsidiary Pantaloon Retail witnessing as much as 20 per cent fall in sales, at its Pune and Mumbai stores, the regions which have come under severe grip of the pandemic.
Kishore Biyani-led Pantaloon Retail India (PRIL) will invest close to Rs 250 crore within the next year-and-half for setting up 10 Central malls in the country.
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