Pantaloon forms equal JV with UK firm
Pantaloon Retail, India’s largest listed retailer, said on Friday it had formed an equal joint venture with UK-based C & J Clark International to sell branded footwear and associated products. The joint venture would also engage in wholesaling of Clarks branded products in India, it said in a statement.
Pantaloon Retail (India) Limited, is a large Indian retailer, which is part of the Future Group, and operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market. Headquartered in Mumbai, the company has over 1,000 stores across 71 cities in India and employs over 30,000 people, and as of 2010, it was the country’s largest listed retailer by market capitalization and revenue.
With effect Jan. 1, the company separated its discount store business, which includes the Big Bazaar hypermarket and the Food Bazaar supermarket businesses, into Future Value Retail Ltd., its wholly-owned subsidiary, so that the company may be listed independently.
The company’s brands include Pantaloons, a chain of fashion outlets, Big Bazaar, a hypermarket chain and Food Bazaar, a supermarket chain. Some of the company’s other regional brands include, Depot, Shoe Factory, Brand Factory, Blue Sky, aLL, Top 10 and Star and Sitara.
I can’t believe, pantaloons does not have a good online store yet…when will online retailing catch up in India ?