Pantaloon Retail India Ltd (PRIL) plans to invest around Rs 500 crore to expand its seamless mall Central and the value fashion format Brand Factory over the next two years.
PRIL is expected to open 25 Brand Factory stores and 10-12 Central malls by 2011. The company plans to set up at least four-five Brand Factory stores in each of the metros and even expand into tier-II markets like Visakhapatnam, Surat and Nashik.
According to sources, a typical Brand Factory store is spread over 40,000-60,000 sq ft, while a Central mall occupies anything between 1.25 and 3 lakh sq ft. The investment in the Brand Factory format varies from Rs 1,000-1,500 per sq ft, and around Rs 2,000-2,500 per sq ft for a Central mall.
Source : ProjectsToday
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