Pantaloon to pump in Rs 100 cr to set up 42 stores

New Delhi, July 30 (UNI) Retail major Pantaloon will set up 42 lifestyle stores in the B and C class cities across the country by June 2007 at an investment of Rs 100 crore, and will focus on the ethnic wear segment.

''From the present 21 stores, we are looking to expand to 42 stores by June next year, with North India being the primary focus, followed by an equal disribution of stores in South, West and East India,'' Pantaloon Retail India Ltd Category Management Head Bina Mirchandani told UNI.

The 21 lifestyle stores were set up with an investment of around Rs 50 crore. The company will pump in double the amount to set up new stores across the country.

She said a majoriy 50 per cent of Pantaloon Lifestyle revenues came from mens wear, as more men are moving to organised retail, while women and children are restricted to unorganised retail.

''We are going to bring about a big shift in women's and kid's wear to organised retailing, and are going to focus on ethnic wear in a big way. Women's ethnic wear contributes around 10 per cent of our revenues, while a combination of both men's and women's wear stands at 15 per cent,'' she said.

Speaking about the potential of the untapped apparel market in the North East, Ms Mirchandani said that earlier, due to the volatile political situation in the region, the company was careful and cautious about stepping foot there.

''Markets today in the North-East are evolving a great deal, and we are aggressively looking at venturing in the ladies western, sweaters and youth brands segments there,'' she said.

Pantaloon has a tie-up with Italy's Underground Music Movement (UMM) youth brand, and sells the brand in its outlet at a 5 per cent royalty, besides paying them technology fees. The company also retails brands like Bare Denim, Rig, Honey, Jealous, Indigo Nation, F Factor and John Miller in its outlets.

Headquartered in Mumbai, the company operates primarily through the Lifestyle and Value formats through multiple delivery mechanisms including Fashion, Food, General Merchandise, Home, Leisure and Entertainment, Financial Services, Communications and Wellness.

The company has stores in nearly 30 cities across the country, constituting nearly 3 million square feet of retail space.

The company caters to the Lifestyle segment through its 21 Pantaloons stores and 3 central malls. In value retailing it is present through 27 Big Bazaar hypermarkets, 43 Food Bazaars and 4 Fashion stations.

UNI RA VJ VP1205