Pantaloon Retail (India) Limited, a venture of the Future Group, is set to invest over Rs 1500 crore in launching more than 110 Big Bazaar hypermarkets in multiple cities throughout the country. Anand Adukia, the Zonal Chief of the company, made this announcement on Friday.
"With this expansion, Big Bazaar now operates in all four major cities of Gujarat, which include Ahmadabad where it has five stores, along with one each in Anand, Surat, Rajkot, and Vadodara," Adukia stated to the press after inaugurating the ninth store in Vadodara today.
The newly opened Big Bazaar in Vadodara consists of three expansive floors housing more than 1.6 lakh products, designed to be a one-stop-shop catering to the comprehensive needs of families, according to Adukia.
"As a consumer-driven company, we ensure our Big Bazaar stores meet all household requirements under a single roof," he emphasized.
Additionally, this store features ‘Navras’, a recognized national brand renowned for its exquisite 22-carat pure gold and diamond jewelry.
Adukia also revealed plans to open another store in Vadodara as well as one in Ahmedabad within the next few months. This growth strategy will extend to cities including Jamnagar, Bhavnagar, and Vapi, among others.
Furthermore, there are plans to launch 11 more stores in Gujarat later this year. So far, the company has made a total investment of Rs 500 crore in the state.
Currently, Pantaloons offers its services to the lifestyle segment through 40 stores and seven central malls. As a prominent retailer with a turnover exceeding Rs 3350 crores, the company is targeting an ambitious growth target of 50% this year, as shared by Adukia.