Aditya Birla Retail to invest up to Rs 200 cr in FY11
Aditya Birla Retail on Thursday said it will invest up to Rs 200 crore this fiscal to expand its ‘More’ brand as it aims to capitalise on the revival of organised retail market and falling rentals. The company, which is the retail arm of Aditya Birla Group, said it will open around 100 supermarkets and [...]
Less is ‘More’ for Aditya Birla Retail – Downsizing yet again!
Aditya Birla Retail, which runs More supermarkets and hypermarkets, has closed 39 stores, including two-thirds of its outlets in Gujarat, company CEO Thomas Varghese said. The retail venture of the $29-billion Aditya Birla Group has closed these stores over the last nine months as part of a strategy to discontinue unprofitable stores.
“Any store that is [...]
Aditya Birla Retail to rope in investor, looking for funding
Kumar Mangalam Birla’s retail venture, Aditya Birla Retail, is reportedly open to roping in a financial investor to fund its expansion plans. Even though the company declined comment, it is learnt from sources that the firm is not
averse to diluting its equity by about 10% to a sleeping partner. However, it would rather wait for [...]
Aditya Birla Retail to become $ 2.5-bn entity by FY18, IPO on the Radar
Aditya Birla Retail Limited (ABRL), the retail arm of the Aditya Birla Group, aims to be an USD 2.5-billion entity by 2017-18, a top company official said. “We aim to become an USD 2.5-billion entity by 2017-18. The growth will be driven by opening new stores, launching private labels and closing unviable stores, among other [...]
Aditya Birla Retail speeds up, to open one hypermarket a month
Aditya Birla Retail plans to invest Rs 1,800 crore over the next eight years to scale up its ‘More’ hypermarkets across the country. It looks to open one store per month at an investment of around Rs 20 crore per store, said Thomas Verghese, CEO of the company, on Wednesday at the launch of a [...]
