Group opens second new hypermarket in Nashik.
Big Bazaar, the major retail chain of hypermarkets from the Kishore Biyani-promoted Future Group, has plans to open 48 new hypermarkets in Maharashtra, including Malad, Ghatkopar, Solapur and Pune, in the next two years. Big Bazaar has set the sales turn over target of Rs. 5,500 crore for the current FY 2008-09.
Big Bazaar on Wednesday (December 24) opened its second hypermarket in Nashik. Presently, Big Bazaar has 103 hypermarkets in 62 cities across the country, including 23 in Maharashtra. The new second hypermarket in Nashik offers 41,000 sq ft retail space and the company has invested around Rs. 3 crore (excluding the property cost) in this hypermarket.
While elaborating company’s expansion plans to Business Standard, Sharad Venkat, Business Manager (country), Big Bazaar said, “We are planning to open 240 new hypermarkets across the country in the next two years (by 2010-11). Out of which, 20 per cent (48 stores) hypermarkets will be opened in Maharashtra alone and these 48 hypermarkets will cover a total carpet areas of 2.4 million sq ft.”
“By March 2009, Big Bazaar will open hypermarkets each in Ghatkopar, Malad and Solapur in Maharashtra. Proposed hypermarket in Malad and Ghatkopar will cover carpet areas of 1 lakh sq ft and 60,000 sq ft, respectively, while hypermarket at Solapur will have a carpet area of 40,000 sq ft.,” he said.
‘Big Bazaar presently has 6 hypermarkets in Pune. We are also planning few more hypermarkets in Pune and we are in the process of identifying land/properties there,” Venkat added.
Big Bazaar registered sales turn of Rs. 3,700 crore during the FY 2007-08 and has set the sales turn over target of Rs. 5,500 crore for the current FY 2008-09.
Big Bazaar hypermarkets display over 1.6 lakh products in various categories, including apparel, general merchandise, food, non-food, fruits and vegetables, electronic, furniture, books music and stationery, mobiles, health zone, crockery, dry fruits, watches & sunglasses, catering to every single household needs of a family.
