The CEO of India's Future Group, Rakesh Biyani, has said the company will invest Rs600m to open around 60 new Big Bazaar hypermarkets in the next 18 months, with floor space of around 40-60,000ft2 each.
Mr Biyani made the announcement at the opening of a new 70,000ft2 outlet in Chennai, Franchise India reported.
"Funding for the expansion will be done mostly through internal accruals. The retail group will continue to grow at 30-35 per cent," he said.
The company has also implemented new checkout technology in around 40 stores which has been successful in slashing wait times, and it now plans to roll out the system in a further 132 stores.
