Date:13/10/2005 URL: http://www.thehindubusinessline.com/2005/10/13/stories/2005101301591200.htm

Back Pantaloon plans foray into communication solutions chain

Our Bureau

Mumbai , Oct.12

PANTALOON Retail (India) Ltd has announced the setting up of a new retail division — Communication Products — to offer communication solutions. The company has appointed senior telecom professional Mr Neeran Chhiber as the CEO and President, Communication Products.

The division will offer mobile phones, landline instruments, computers, peripherals and mobile airtime and broadband services. It will be represented through independent stores and also be part of Centrals and Big Bazaars. Mr Kishore Biyani, Managing Director, Pantaloon Retail (India) Ltd, was quoted as saying in a press release: "Communication needs today represent 6 per cent of consumer spends and we would like to capture this part of the consumer's basket by offering them a one-stop shop for bundled and complete communication solutions via this new venture."

The company is growing very quickly and has notched an 84 per cent increase in retail sales for the month of September 2005 of Rs 120 crore over Rs 65 crore during the corresponding year-ago period.

Its sales under value retailing were Rs 84 crore (Rs 42 crore). For lifestyle retailing, the company recorded sales of Rs 36 crore (Rs 23 crore).