Aditya Birla group to do retail business on its own

The 24-billion dollar diversified Aditya Birla Group on Friday announced its entry into domestic organised retail market with an investment of up to Rs 9,000 crore over three years to set up 1,000 supermarkets.

The group, which has interests in telecom, cement, textile and aluminium, had in January acquired control of the Trinethra supermarket chain in its run up to the retail foray.

Its retail stores would be christened 'More' and the first outlet would be opened in Pune this month.

While ruling out the franchisee model for the business, Birla said that the group would be setting up 1,000 super markets over the next two years of about 10,000 sq.ft each. The retail outlets will be in two formats -- hypermarket and supermarket, Birla said.

Read more in DNA Money article.