Pantaloons, one of India’s leading fashion retailers from the Future Group stable, has acquired a new milestone with style and flair. Expanding its retail presence, Pantaloons launched its 50th store in the country on November 27, 2010, at the Ambience Mall in Delhi.
In a release issued, Rakesh Biyani, Director and CEO, Retail, Future Group, said, “More than a number, the journey has been an indicator of our successful growth nationally.” While he did not reveal any figures, it was quite clear from the conversation he had with journalists present at the event that the Future Group had robust plans for the ‘Next Gen’ of Pantaloons. He made it clear that the Group had no international plans at present and were happy with the Indian market. According to him, India was the best market to be in since it had been expanding the last few years and the retail business had been rather successful.
Pantaloons had opened shop in 1997 in Kolkata, and almost a decade later, they are on their 50th megastore. Biyani informed that they were spreading to smaller cities as well and were open to standalone stores as well as stores in malls. And while he was not willing to discuss any other Future Group plans, foraying into more specialised domains of food and beverage was not completely ruled out.
Pantaloons already has two exclusive fashion stores – Headquarters (11 functional stores and spreading) and Ethnicity (three functional stores), – alongside the arsenal of brands they have in-house as well as on-hand.
Kailash Bhatia, Chief Executive Officer and Director, Pantaloon Retail India Ltd, said, “Pantaloons has always strived to remain the first choice for its customers through trendy designs... it is one format that provides fashion for every occasion to all its customers.”
Spread across two floors in the Ambience Mall, the state-of-the-art store welcomed customers, while the retail team celebrated this new milestone. Every 50th customer was given a Rs 250 gift voucher, while the biggest spender of the day would be given a gift voucher worth Rs 2,500.