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Indiabulls to enter retail
Posted On: 27-11-2007 00:00:00 07

After consumer finance and real estate, the Indiabulls Group is set to step into the retail business. Indiabulls Wholesale Services Ltd, a subsidiary of Indiabulls Real Estate Ltd, will set up hypermarkets across the country. These large-format stores, spread over 100,000 to 150,000 square feet, will be modeled on the lines of Costco Wholesale stores in USA, which operates the largest membership warehouse club chain in the world. Goods are bulk-packaged and sold at discounted prices. These stores will be located in the heart of the city, and not on the outskirts or suburbs as most hypermarkets are located in the US or Europe. The company is targeting tier 2 cities like Ahmedabad, Jodhpur, Indore, Kanpur, Patiala and Ludhiana, many of which have seen a spurt in per capita income. The malls will be owned by the parent company Indiabulls Real Estate Ltd, which is also developing 3.5 million square feet of commercial space in Mumbai's mill lands. The CEO Ikroop Singh, an Indian who was previously working with the Microsoft, is leading Indiabullsí retail foray.

 
 
 

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