Pantaloon to set up 2 stores, one Big Bazaar in Hyd

Pantaloon Retail (India) Limited is planning to set up 15 Pantaloon stores in 2005 out of which two will be set up in Hyderabad, apart from a Big Bazaar.

Addressing media persons on the inauguration of the company's first seamless mall "" Hyderabad Central "" in the city, Rakesh Biyani, director of Pantaloon Retail (India) Limited, said: "We are still negotiating on the locations for the Pantaloon stores," Biyani said adding that the Big Bazaar will be set up by April next year in Ameerpet.

There are about nine Big Bazaars and 15 Pantaloon stores currently in India, Biyani said. "The group is targeting a revenue of Rs 1,200 crore by June 2005," he added.

"Hyderabad Central is the largest seamless mall in the country occupying an area of 2,50,000 sq ft. Our first seamless mall was set up in Bangalore in May and the revenues from the mall have been around Rs 90 crore so far," Biyani said.

He added that the group is planning to set up seamless malls in Gurgaon and Pune next year.

"Hyderabad Central has been set up with an investment of Rs 70 crore out of which Rs 30 crore is our investment and the remaining is by the Hyderabad-based developers, G S Group," Biyani said.

The five-storied seamless mall houses over 300 brands across categories like apparel, footwear and accessories for women, men, children and infants.

It also has a food court, coffee shop, food bazaar and five dining and fast food restaurants. The mall also provides space for product launches, impromptu events, displays, shows and exhibitions. It currently employs about 800 people.