Friday, October 20, 2006

Pantaloon expects revenue of Rs. 50 billion from joint ventures

Business Standard reports that the Future Group’s subsidiary, Pantaloon Retail India Ltd (PRIL) is targeting revenues of Rs. 50 billion from its joint ventures by 2010. The company will be investing Rs. 5 billion in these joint ventures and hopes for a ten fold return. Joint ventures are being looked at in seven key segments such as footwear, lifestyle, kidswear, food, entertainment and health.

It has already formed some of these agreements such as a 51% stake JV with Liberty India for footwear under the name Shoe Factory, a tie up with kidswear brand Gini & Jony, for the food segment it has tied up with Pan India Food Solutions and Galaxy Entertainment for the entertainment segment.

The company has tied up with Talwalkars for fitness and Indus Clothing for yoga clothing and fitness wear. For the lifestyle segment, the company has tied up with Planet Retail India Ltd, with the Etam brand for lingerie and inner wear and Goldiam International Ltd for its jewelry brand Ola.

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