Pantaloon sees FY07-08 group revenue $2bn

Pantaloon sees FY07-08 group revenue $2bn
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First Published: Mon, Aug 06 2007. 12 54 PM IST
Updated: Mon, Aug 06 2007. 12 54 PM IST
By Reuters
Mumbai: Pantaloon Retail India Ltd, the country’s top listed retailer, sees group revenue more than doubling to $2 billion in the fiscal year to June 2008, its chief executive said on 6 August.
The Future Group is also looking at more joint ventures with foreign firms in the business-to-business segment, similar to the one it has with U.S. office supplies retailer Staples Inc., Kishore Biyani told Reuters in an interview.
Pantaloon operates hypermarkets, department stores, supermarkets and malls, and will launch small discount stores shortly, and large cash-and-carry stores, Biyani said.
India’s retail industry, valued at nearly $350 billion (Rs14,16,067 crore), is forecast to double in size by 2015, with modern retail’s share of that also quickly increasing from about 3 percent now.
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First Published: Mon, Aug 06 2007. 12 54 PM IST