Aditya Birla Retail Ltd (ABRL) announced the re-branding of its Fabmall grocery supermarkets to More. In January 2007, ABRL had acquired Hyderabad-based Trinethra Super Retail, which owns brands like Fabmall, Trinethra and Fabcity, and now plans to launch new stores under More.
Speaking to Indiaretailing, Sumant Sinha, CEO, ABRL, informed: “ABRL plans to have 1,000-1,500 supermarkets and 100 hypermarkets under the More brand in the next five years across the country, with an investment of Rs 8,000-10,000 crore. At present, the company runs a 50,000 square feet hypermarket in Mysore under the name Fabcity (which is now re-branded as More Megastore). The next More Megastore is set to open in Vadodara (Baroda) in February 2008.” According to Sinha, the investments for retail expansion will be raised through a mix of debt, equity and internal accruals.
The acquisition of Trinethra Super Retail has provided ABRL with a strong retail footprint in the South, extending to 275 stores in the key states of Andhra Pradesh, Karnataka, Tamil Nadu and Kerala. At present, there are over 100 More supermarkets across the country. The additional 220 stores, which operate under Fabmall and Trinethra brands, will also be soon converted into More. On completion, which is likely to happen by March 2008, More will have a network of 300 supermarkets across the country.
The supermarkets will be spread across 10,000 square feet, while the hypermarkets will have a floor space of 75,000 square feet. The supermarket division will be headed by Andrew Denby and the hypermarkets division by Russel Berman. ABRL envisages considerable investments in back-end infrastructure, and sourcing directly from farmers is also being pursued aggressively.
The More stores will offer a wide range of product categories including fruits and vegetables, staples, personal care, home care, household general merchandise, dairy products, basic apparel and health care. More also has its own in-store labels across value, premium and select ranges.
– Vishnu Rageev R, Bengaluru Bureau