Pantaloon Retail India Limited, India’s largest retailer [by sales] just a while ago announced that it will spin-off brands such as Ajile, Bare and John Miller into individual store brands. It is learnt that these brands have high margins for Pantaloon Retail and also have higher growth rates.
Ms Bina Mirchandani of Pantaloon Retail said,
Private Labels such as John Miller and Bare generate between about 70% of revenues. Some have natural level of growth and hence we are thinking of exclusive stores for them.
Bina expects that the ladies ethnic wear – Akkrrutti will grow in excess of 50% and hence has tied up with designers such as Rocky S. Bare – denim, Ajile – sportswear, and Rig – utility weekendwear also have registered significant volume growth.
Pantaloon also has a stake in Indus League and is revamping the Jealous 21 brand. All this means heavy investments for Kishore Biyani and Future Group.