IndiaRetailBiz

Big Bazaar, which like every year, celebrated the Republic Day with mega sales event lasting three days between 25th and 26th January, 2008, across all of its 80-odd stores in the country, drew excellent response from the customers.

According to Kishore Biyani, promoter of Future group, whose Pantaloon Retail (India), owns this hypermarket, general merchandise, value chain, clocked a turnover of Rs. 240 crores. He was speaking on the sidelines of Images Fashion Forum being held in Mumbai.

In comparison, the same event, in the previous year, had garnered total business of Rs. 150 crores.

This year’s ‘Sales Offer’ drew enthusiastic response from young customers as well. This, according to Biyani, was reflected in the sale, among others, of products like jeans (1,38,000 pairs) and cellphones (38,000 units).

Big Bazaar, which is expecting clock Rs. 4,000 crore in turnover this year, is eyeing to double the same to 8,000 crore ($2 billion) in the next year. Big Bazaar is also expecting to more than double its network of 80-odd stores to 300 stores within a year.

Pantaloon Retail’s Board has already decided to hive-off the hypermarket chain as a separate entity.