Aditya Birla Retail will invest Rs 9,000-Rs 10,000 crore for setting up over 1,000 supermarkets and hypermarkets in the next three years across India. But no listed company of the Aditya Birla group will have a stake in the retail venture. “Our mission is to change the way people shop. We will give them more,” Kumar Mangalam Birla, chairman, Aditya Birla group, said here while announcing the foray. And, ‘more.’ is what Birla has decided to call the newest baby.
Essentially, the stores will try to focus on superior quality at competitive pricing. “It will typically not target a Big Bazaar customer, but be more on the lines of the Shoppers’ Stop-promoted hypercity, which caters for the upper-middle class,” said a retail analyst.
After testing its first 40,000-sq-ft supermarket store in Mysore, the company is now set to roll out the second `more’ supermarket in Pune in June. It will then reach out to other major cities.
“The investment will be funded by debt and equity. The company does not intend having a joint venture partner,” said Birla.
Aditya Birla Retail will rebrand the Trinethra Super Retail, which the group had acquired in January, also as ‘more.’ The brand will be common across all the retail formats. Trinethra Super Retail has given Aditya Birla Retail more than half-a-million sq ft of floor area and a strong foothold in the supermarket business in the four southern states of Andhra Pradesh, Karnataka, Tamil Nadu and Kerala.
Essentially, the stores will try to focus on superior quality at competitive pricing. “It will typically not target a Big Bazaar customer, but be more on the lines of the Shoppers’ Stop-promoted hypercity, which caters for the upper-middle class,” said a retail analyst.
After testing its first 40,000-sq-ft supermarket store in Mysore, the company is now set to roll out the second `more’ supermarket in Pune in June. It will then reach out to other major cities.
“The investment will be funded by debt and equity. The company does not intend having a joint venture partner,” said Birla.
Aditya Birla Retail will rebrand the Trinethra Super Retail, which the group had acquired in January, also as ‘more.’ The brand will be common across all the retail formats. Trinethra Super Retail has given Aditya Birla Retail more than half-a-million sq ft of floor area and a strong foothold in the supermarket business in the four southern states of Andhra Pradesh, Karnataka, Tamil Nadu and Kerala.