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ABRL to open 10 hypermarkets, up to 100 supermarkets in FY’11

ABRL to open 10 hypermarkets, up to 100 supermarkets in FY’11
PTI
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First Published: Wed, May 05 2010. 02 40 PM IST
Updated: Wed, May 05 2010. 02 40 PM IST
Mumbai: Aditya Birla Retail (ABRL) plans to open 10 hypermarkets and up to 100 supermarkets this fiscal, a top company official said on Wednesday.
“We plan to open 10 hypermarkets and up to 100 supermarkets this fiscal,” Aditya Birla Retail’s CEO Thomas Varghese told reporters here.
“We expect to break-even by 2013,” he added.
The Aditya Birla Group runs its retail business under the brand-name ‘more´.
The hypermarkets will come up in existing metros like Delhi, Bangalore, Hyderabad and Mumbai, while the supermarkets will come up in Tier II cities, he added.
The investment per hypermarket would be around Rs16 crore, while it would be Rs40 lakh per supermarket, Varghese said.
At present, Aditya Birla Retail has 540 supermarkets and six hypermarkets.
With the 10 new hypermarkets, ABRL will attain the number two position in the hypermarket segment, he said.
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First Published: Wed, May 05 2010. 02 40 PM IST
More Topics: Aditya Birla | ABRL | More | Supermarket | Fiscal |