More of More: Aditya Birla Retail back on track
The ‘More’ brand stores of Aditya Birla Retail Ltd seems to be getting back on track after losing its way briefly, which led to its closing 200 stores a few years ago.business Updated: May 30, 2012 12:40 IST
The ‘More’ brand stores of Aditya Birla Retail Ltd seems to be getting back on track after losing its way briefly, which led to its closing 200 stores a few years ago.
At its peak, ABRL had 656 supermarket stores in 2008-09.The company’s new CEO Pranab Barua credits the turnaround to ‘doing small things right’. While the company started this financial year with just under 500 More stores, ABRL looks to cross 600 mark this year, and plans to open 80-100 stores per year over the next 3 years.
“We are in a much better position than in 2008,” said Barua, refusing to put a timeline to profitability. “Adding new stores will continue to be a way of life.
“We have a robust network now and hope to grow the same in chosen clusters to strengthen synergies,” said Barua. “The stores we have now are well poised to provide the highest standards of products and great service to our customers.”
After the 2008-09 period, the company went through a period of store rationalisation and re-worked strategies that primarily included bringing down its real estate costs and expansion in the right geographies.
The retail firm is also looking at scaling up its hypermarket business, a segment that took time to take off and now every retailer is plugging to it.