Aditya Birla Retail Ltd (ABRL), the retail arm of India’s USD29.2 billion Aditya Birla Group, has set a target of opening 10,000 supermarkets and 64 hypermarkets by 2015, with an investment of INR4,500 crore (INR45 billion, USD971.7 million).
Growth of the group has been fuelled by the acquisition of the Hyderabad-based Trinethra Super Retail and Fab Mall last December, and the chain, now under the brand name More, has over 524 stores across 12 states.
ABRL’s private-label business, which currently contributes around 19 percent of total revenue, is expected to touch 30 percent over the next two years. This would be across verticals like FMCG, apparel and general merchandising, as private labels give a minimum of 10-15 percent better margins compared with similar brands.
(Source: The Financial Express)