RETAIL STORE INDIA

The Retail Space Provider Company

BS Reporter / Bangalore January 24, 2008

Aditya Birla Retail today announced that it has rebranded its Fabmall grocery supermarkets to 'More'.

The rebranding follows the acquisition of the Trinethra Super Retail that includes the retail brands Fabmall, Trinethra and FabCity by Aditya Birla in January 2007.

The More stores will offer a wide range of product categories including fruits and vegetables, staples, personal care, home care, household general merchandise, dairy products, basic apparel and pharmacy products.

The company will have 350 More stores in the country with 275 of them located in South India. It intends to increase the number of these supermarket stores to 500 by the end of the current fiscal.

According to Sumant Sinha, CEO, Aditya Birla Retail, the company will open 1,000 supermarkets (More brand) and 100 hypermarkets (More Megastores brand) in the next five years all over the country with an investment of Rs 8,000 crore to Rs 10,000 crore. It will be raised through with a mix of debt, equity and internal accruals.The company operates a hypermarket in Mysore (50,000 square feet). Its next hypermarket will be set up in Baroda (90,000are feet).

Sinha said the company would also focus on secondary and tertiary cities in the country for growth.

Source : Business Standard