Future Group today said it would double the number of its flagship multi-brand ‘Pantaloon’ stores in the next three-four years, as it embarks on an image makeover for the apparel and accessories chain to target youngsters.
Group company Pantaloon Retail India, which opened its 50th store spread across 31,109 sq ft here, plans to add another 50 Pantaloon stores across metros and smaller cities. “In the next three-four years, we are looking to add 50 new Pantaloon stores across the country,” Future Group Director and CEO (Retail) Rakesh Biyani said.
Biyani said 18 such stores were in the process of being opened and agreements with various real estate developers had been signed for a dozen more. The company will focus on top seven cities in India, along with the various state capitals under its expansion.
A Pantaloon store was spread across 25,000-30,000 sq ft on an average, he added. The funds for the new Pantaloon stores will be part of the Rs 2,100-crore investments to be made by the Future Group over the next three years, which was announced earlier this month. Besides, the group is changing the look of its stores by making it more colourful and vibrant, to attract more young consumers.