In a bid to enter the retail industry the AV Birla group is about to acquire the Hyderabad-based supermarket chain Trinethra Super Retail, including its online shopping outfit, Fabmall.
The Trinethra group has about 172 outlets 83 in Andhra Pradesh, 26 in Bangalore and 15 in Chennai. It has annual revenues of about Rs 250 crore. This acquisition will give the AV Birla group foothold in the fast-growing food and grocery market. The company has recently announced its entry in the retail market through Aditya Birla Retail.
Retail is said to the fastest growing sector and has the potential to become a $350 billion sector. Analysts suggest that the Indian food retail sector will grow at the rate of about 32 per cent every year.
Trinethra Super Retail was founded in 1986. It is southern India’s fastest-growing grocery retail chain. It is also know as Fabmall in Kerala and Karnataka it is known as Fabmall. It has more than 2, 500 employees and is mainly focused on groceries