On Tuesday Indian retail giant Future Group purchased the sole Indian franchisee store of South Africa's largest grocery retailer, Shoprite Holdings Ltd.
The former Shoprite store, located in the suburb of Mulund, in Mumbai, will be used to unveil the Future Group's new brand of stores over the weekend, according to an unnamed Future Group executive.
The new outlet will stock primarily food items, around 85 per cent of the total stock, and will boast an area of 55,000ft2, Live Mint reported.
'We always wanted to do a large format store dedicated mostly to food and we took over the Shoprite store,' the executive said.
The Future Group's flagship Pantaloon Retail operates the Food Bazaar supermarket chain, and hypermarket chain Big Bazaar.
Food Bazaar outlets are between 10,000ft2 and 15,000ft2, while Big Bazaar stores usually cover around 50,000ft2.
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