Sunday, May 06, 2007

Birla Retail venture to start in June

Aditya Birla Retail announced that it will be formally launching its retail venture in June. The company's retail endeavor will see an investment of Rs 40,000 crore and it's first store will open in June in Pune. Most of the top executives have been finalized for the firm. Birla Retail will only focus on three formats for it's retail venture: supermarkets, hypermarkets and apparel stores. For a head start in it's food business, the company purchased Trinethra for Rs 150 crore earlier this year.

Some of it's high profile executives include, Russell Berman the head of operations had earlier worked with Carrefour, Chinese retail chain Lian Hua, and French retail chain Auchan; Peter Denby, who will look after the supermarket division and was earlier with Sainsbury’s; Juzar Mastan who will head the supply chain and logistics division. The overall head of the company will be Sumant Sinha, the COO of the AV Birla Group and the CEO-designate.

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