31 May, 2011

More shopping @ "more" for you

I am glad that i can spend my Sodexo vouchers more often to buy grocery items at multiple new locations which are going come up - it is said by Aditya Birla Retail Ltd CEO Thomas Varghese that they are considering to enter speciality retail segment, even as it plans to add over 160 new stores under its 'more' brand this fiscal at an investment of Rs 300 crore. The company had acquired South India based retail chain 'Trinethra' in 2007 and they expects to break-even by 2014, post which it might consider making an initial public offer. The company closed last fiscal with a turnover of Rs 1,650 crore and expects sales of Rs 2,400 crore by the end of the current fiscal. Article link

I am sure that other players in this space will certainly make some major moves in the next couple of weeks - the reason is simple - it is a natural phenomena that if any of the player makes a major expansive move the rest follows, after all each one of these players wants to save money by averting the primary market research which is so niche and the results/inferences will certainly help them in understanding of a need whether to expand or hold back .

So watch for more not just from “MORE” of Aditya alone !