Date:01/11/2005 URL: http://www.thehindubusinessline.com/2005/11/01/stories/2005110102000800.htm

Back Pantaloon to experiment with retail formats

Our Bureau

New Delhi , Oct. 31

PANTALOON Retail (India) Ltd is planning to experiment with different retail formats and enter fresh service segments to grow its retail business. At present, PRIL primarily comprises large-format outlets such as Big Bazaar and Pantaloon.

After opening a clothing/accessories store Fashion Street, Pantaloon is now all set to enter the beauty/grooming retail arena.

According to Mr Kishore Biyani, Managing Director of PRIL, the company will launch a chain of beauty parlours in the next few months. "The beauty parlours will be called `Star aur Sitara' and will be positioned at the mass-end of the market, like all our retail stores. We will initially be setting up two outlets in Ahmedabad and Bangalore in two months' time. Both these outlets would be located within shopping malls," he said at the sidelines of the CII marketing summit.

PRIL would be focussing on expanding retail business aggressively. According to Mr Biyani, the company is investing close to Rs 200 crore a year to set up new outlets.

PRIL is also planning to come out with a rights issue, which would help raise funds for its new ventures.

The company would be raising close to Rs 225 crore from the rights issue, which is due in the next couple of months.