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.
As organised retailers try to squeeze margins, Kishore Biyani-promoted Future Group has replaced PepsiCo's Frito Lay snacks with ITC's Bingo at its Big Bazaar and Food Bazaar stores.
Players such as Food Bazaar, Reliance, More and Vishal have already launched their private labels in this category. Names such as Tasty Treat, Disney, Ching's, Smith & Jones from the Future Group stables and Reliance Select from Reliance Retail among others are challenging the market dominance of Maggi in terms of in-store purchases in these retail formats.
Retail chain set to spin off Big Bazaar, Food Bazaar, create holding firm.
Kishore Biyani, the retail baron, seems ready to smoke the peace pipe with suppliers with whom he has been at loggerheads for the past few months. The move comes at a time when some of his recently launched private-label product categories are outselling those of multinational rivals such as Nestle.The founder of Future Group of retail chains including Food Bazaar and Pantaloon recently launched a series of in-house value-for-money consumer products.
'The idea of modern retail is to drive consumption and grow the economy. If international retailers can do that and add new categories, why not?' asks Kishore Bayani of the Future Group.
ITC, Godrej Agrovet, DCM Shriram and other companies expanding in rural areas may eclipse the growth of their urban counterparts, including Reliance Fresh and the Future Group-owned Food Bazaar chain, helped by higher farm income that is spurring a boom in sales of fast moving consumer goods, consumer durables and apparel.
Pantaloon Retail, the country's largest retailer, has seen its sales dip for the first time in four years, on subdued consumer sentiment and uncertain prospect of an economic revival. Reflecting the trend, the stock of the company fell 5.1 per cent to Rs 189.8, even as the Sensex rose 3.3 per cent.
Pantaloon Retail (India) Limited, a retail organisation, is recruiting Sales Executives, Head Cashiers, Team Leaders and Supervisors.
Venturing into the outdoor media business, Kishore Biyani's Future group, with retail brands such as Pantaloon, Big Bazaar
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.
Patanjali Ayurved, founded in 2007 by yoga guru Ramdev, is targeting Rs 10,000-crore (Rs 100-billion) revenue in 2016-17
Big chains such as Star Bazaar, Future Group and D Mart have set up separate shelves to sell products of Patanjali.
Bharti Retail will issue one equity share of Rs 2 each for every share of Rs 2 held in Future Retail
He's betting big on small stores to help him reach 10 million households by FY21, report Abhineet Kumar and Raghavendra Kamath.
Regulator seeks clarification on transfer of convertible debt after merger
Taking control of manufacturing will help boost profits for the food business, but it could leave the group saddled with huge debt.
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