Pioneer retailer Pantaloon Retail (India) Limited (PRIL) announced the August 2005 sales results.
The standalone stores and home representation in Central and Big Bazaar will start immediately and the first full Home store called Home Town is expected in May 2006. In the first year of operations, Pantaloon expects to do a business of Rs 300 cr and by the second year in excess of Rs. 1000 cr.
Pantaloon added another line of business - its foray into home - through its subsidiary Home Solutions Retail (India) Limited, headed by Mr. Raghu Pillai. The size of the sector has been estimated between Rs 70,000 crore - Rs 80,000 crore. The furniture market is estimated at Rs 20,000-22,000 crore. Both are largely addressed by the unorganized market. The Pantaloon model in home is as below:
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Sales for 05-06 continued to be buoyant as the company came up with total net sales of Rs. 145.99 crores in August, the highest since its inception. Sales from value retailing stood at Rs. 85.58 crores, while lifestyle retailing contributed sales of Rs. 60.41 crores. Value retail displayed a same store growth of 32.72 per cent and lifestyle retailing of 22.88 per cent.
India's leading retailer firm Pantaloon Retail (India) Limited (PRIL) was incorporated onOctober 12, 1987 as Manz Wear Private Limited under the stewardship of Mr. Kishore Biyani. Company offers complete idea of a family store, besides garments, Pantaloons also retails household items, home furnishings, books, infant necessities, toys, music, fashion accessories, etc.
Pantaloon Retail (India) Limited
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