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