While the likes of Reliance and ITC Group are still keeping their plans under wraps, Tatas-owned Trent Ltd managing director Noel N Tata today said the first food retail store of the company would come up by the middle of next year.
He was speaking at the retail summit in Delhi which has been organised by CII. Tata, however, refused to divulge any more information.
The $600-million retail chain Landmark Group, which runs the LifeStyle chain of fashion and home retailing in India, has also expressed considerable interest in the sector and sources say that Mumbai-based RK Hospitality has already got a funding from Warburg for its food retailing initiative.
The Goenkas-owned RPG Enterprises also said that it wants to expand the number of its hypermarket stores, Giant, from the current one to 15 within the next 18 months. Considering each Giant entails an investment of Rs 15-35 crore, the minimum investment would be to the tune of Rs 220 crore. Even Pantaloons is planning to expand its Big Bazaar rapidly.
The interest is not restricted to domestic companies. It is spreading to multinationals as well. Some including South Africa
