Pantaloon group has done proud to the Indian retail industry. Kishore Biyani, head of India's largest retail group Pantaloon was honoured with the International Retailer of the Year Award by the US National Retail Federation at its annual convention.
American retail industry registers a whooping 4.5 trillion dollars of annual sales. It’s for the first time that an Indian retail group has made to the top.
“I think what we have to learn from the US is how consumption can drive our economic growth,” said Pantaloon Retail MD Kishore Biyani adding that the US market is all about thinking big in terms of technology and consumerism.
Though Biyani declined to comment on reports of a tie-up with American coffee chain Starbucks, but said that he expects an Indian store to open by June this year. He ruled out a partnership with fast-food chain Burger King.
“Our job is to keep on meeting people. But I don't think so there's anything happening that side,” said Biyani.
The latest acquisition by Pantaloon Retail was of an online office products company OfficeEdge.
“Pantaloon is focused on giving the customer exactly what they want. They will sell in whatever format is needed, from food to electronics to high fashion apparel. And they really are a good example to all the other retailers who come here to learn,” said Karen Knobloch Senior VP, National Retail Federation.
Source : CNN - IBN
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