New Delhi: Kishore Biyani-promoted Future Group’s retail chain Big Bazaar is planning to have 300 hypermarkets in the country by 2010-11.
The company is also mulling to increase its annual turnover to Rs13,000 crore by 2010-11, up from Rs3,600 crore last fiscal on the back of its expansion.
“We started with our first store in October 2001 and have now crossed the hundred mark with three stores opened today in Pune, Cuttack and Delhi. Our plan is to increase the number of our stores to 300 by end of the 2010-11 fiscal,” Big Bazaar Chief Executive Officer Rajan Malhotra said.
He said that the company would have another 35 odd stores by end of its fiscal in June 2009 to take the total number to 135.
“We are targeting a turnover of Rs5,000 crore this year and have plans for reaching a figure of Rs13,000 crore by 2010-11 fiscal,” Malhotra said.
He added that the company would be looking at both the metros and Tier I cities, besides Tier II and smaller cities for the expansion.
The Big Bazaar hypermarkets had a footfall of 11 crore last fiscal and the company is aiming for an increase in the numbers up to 14 crore this year. The size of its hypermarkets on average is 30,000 sq ft to one lakh sq ft.
The company is also launching a special festive season ‘One in a Lifetime´ offer across all its stores on 1 to 5 October.
“The offer would run in all Big Bazaar format stores on apparels, footwear, accessories and general merchandise,” he added.