Aditya Birla Retail (ABRL), part of the Aditya Birla Group, plans to set up 80 outlets of ‘More’ in FY 2009-10. ABRL wants to increase the number of its outlets to 720-730. Subsequently, the company also intends to close down 10-20 existing outlets as part of its clean-up operation.
Presently, the retail major operates 2 hypermarkets at Mysore and Baroda and has shown its interest to set up 6 to 8 in the similar format by March, 2010.
The company posted sales of around Rs 1,150 crore, now aims to achieve a sales turnover of about Rs 1,600-1,700 crore in current fiscal. In FY 2008-09, the company observed a growth of 110%. ABRL has been able to create network of 710 stores in just 20 months, out of this 76 outlets have been closed in the last six months.