Future Group’s Big Bazaar is now all set to unleash a massive expansion plan. As per reports coming in, Big Bazaar will soon expand to 300 stores, across 100 cities.
Powered by Reliance, this is one of the biggest expansion plans announced by Big Bazaar.
Big Bazaar Will Expand To 300 Stores In 100 Cities
Big Bazaar CEO Sadashiv Nayak has confirmed that in the next 3 quarters, their brand will open 16 new stores, and thus, expand to 300 stores.
Big Bazaar is already present in 100 cities.
This means that by the time 2021 ends, Big Bazaar will be present across 100 cities, via 300 stores.
Sadashiv said, “We are on the course to complete the milestone of reaching 300 hypermarket stores in next three quarters,”
As the reports, Big Bazaar is mainly aiming for Tier 2 and Tier 3 cities to expand, and generate more business. Once Big Bazaar opens their 300th store, they will be present across all the states of India.
Since the lockdown is now almost over across India, Big Bazaar is experiencing more traffic, more sales, and more revenues.
This is indeed a good sign for the retail industry in India, since Big Bazaar is the biggest player in this niche.
Big Bazaar CEO said, “People have started to consume again, which is a good sign and the people need to be price conscious and promotion conscious and that has not gone away. People are checking the price and promotions,”
Reliance Will Infuse More Funds Into Big Bazaar?
Reliance has already acquired Future Group’s retail, wholesale, logistics and warehousing for Rs 24,000 crore, and Big Bazaar is part of this acquisition.
Although Big Bazaar and Future Group hasn’t revealed the funding source for their massive expansion plan, but since Reliance are the new owners, we can expect that Reliance is going to infuse massive funds into Big Bazaar to make the expansion happen.
Along with Big Bazaar, Reliance will also own popular brands such as fbb, Foodhall, Easyday, Nilgiris, Central and Brand Factory.
We will keep you updated, as more details come in.
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