Big Bazaar and Food Bazaar = Future Value Retail..
Finally the decision has come from Future Group MD , Mr. Kishore Biyani this week. All pantaloons employees were shot a mail about this stating the changes from 1st of January.
According to me these changes have made to focus more on their target customer . I think it is a smart move as it will help building a strong brand name in mind of customers and they also will be able to relate the stores with them. As Wal-Mart has already began its operations in India and in expanding mode , it is crucial to be very clear for PRIL on its branding strategies.
Currently there are around 120 Big Bazaar and Food Bazaar stores across India and company is planning to make it to 140 in 4 to 5 years of span.
They also have come out with a decision to limit their KB's Fair Shop format to Mumbai , Delhi and Bangalore. Company has the plan to open 1200 stores and want to be penetrated across these cities.
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