Kishore Biyani wants to carve name for himself in the Indian Retail space just like Sam Walton in the United States[If Sam Walton was alive today, he would have held the Richest man in the World title for more than 50 years]
We have just a while ago learnt from the office of Chairman at Pantaloon Retail India Limited that Kishore Biyani will launch a 1,500 new format fair price shops under the brand name “KB’s Fair Price Shops“. This retail chain of 1,500 outlets will be setup within the next 24 months.
Mr. Narendra Baheti, CEO Pantaloon Foods India Ltd said,
Our target is to provide essential items cheaper than market price and we are looking at 20% market share of neighborhood retail market.
These shops will sell leading brands of around 300 essentials at 10% discount to market price and the local brands up to 20% less than any other retailer. KB [Kishore Biyani] hinted that it was a strategy to give Subhiksha’s RS [R .Subramanian] run for money.
Our readers already know that Subhiksha is “Bachat Mera Adhikar“retailer, while KB’s fair price shop wants to be “Saare Jahan Se Sasta“ retailer in India.