Home Retail Pantaloon Retail to merge home retailing business with itself

    Pantaloon Retail to merge home retailing business with itself

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    To give a boost to its home retailing business, is reportedly set to merge the business with itself. The home retailing business is currently run by Retail India Ltd (HSRIL) with retail stores such as eZone, Electronics Bazaar and under it. The merger, according to reports, would be activated in 6-8 weeks.

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    Besides, the company's board has approved acquisition of online and offline rights of global brand Forever 21 for the Indian market.

    Pantaloon Retail recorded revenues of around Rs.2,311 crore in the third quarter of FY 2010. Close to 18 per cent of the total revenues came from the home solutions business alone. Around 22 more eZone stores are expected in the current fiscal, in addition to the 66 stores already in operation, with an average store size of 10,000 sq.ft.

    Pantaloon’s home solution segment reported a 30 per cent growth in the last quarter.

    IndiaRetailing Bureau