217
Fashion Jobs
SHIMANO
Brand Coordinator
Permanent · UPPSALA
L'OREAL GROUP
Pharmacy Representative - Dermatological Beauty Division - Gothenburg Region
Permanent ·
GANT
Business Controller
Permanent · STOCKHOLM
GANT
Senior Business Controller
Permanent · STOCKHOLM
H&M
Operations Manager to h&m Distribution Center Borås
Permanent · BORÅS
H&M
Web Analyst / qa Data Layer Resource
Permanent · STOCKHOLM
H&M
Data Analyst to h&m – Supply Planning
Permanent · STOCKHOLM
H&M
Engineering Manager Sap Platforms, Sap Dev & Tech
Permanent · STOCKHOLM
H&M
Wifi Solution Architect - Network
Permanent · STOCKHOLM
H&M
Cyber Security Iam Manager
Permanent · STOCKHOLM
NAKD
Head of Sales
Permanent · GOTHENBURG
NAKD
Head of Commercial Business Control
Permanent · GOTHENBURG
H&M
Pension & Benefits Administrator And Process Improver
Permanent · STOCKHOLM
H&M
Technical Engineer For Warehouse Devices Management
Permanent · STOCKHOLM
H&M
Junior Planner to h&m Assortment- Open Application
Permanent · STOCKHOLM
RALPH LAUREN
Sales Professional
Permanent · STOCKHOLM
H&M
Advanced User Team Leader
Permanent · ESKILSTUNA
ZALANDO
Principal Product Manager - Data And Platform (All Genders)
Permanent · STOCKHOLM
ESSILORLUXOTTICA GROUP
Key Account Manager Nordics
Permanent · GOTHENBURG
H&M
Production Manager – Singular Society
Permanent · STOCKHOLM
ZALANDO
Senior Product Manager - Finance & Compliance (All Genders)
Permanent · STOCKHOLM
ZALANDO
Senior Product Manager - Returns Shipping Solutions
Permanent · STOCKHOLM
Ads
By
Reuters
Published
Apr 14, 2009
Download
Download the article
Print
Text size

India Pantaloon Retail to restructure, raise funds

By
Reuters
Published
Apr 14, 2009

MUMBAI, April 14 (Reuters) - India's largest listed retailer, Pantaloon Retail India Ltd (PART.BO), said on Tuesday 14 April it had board approval to spin off its fashion and retail divisions into wholly-owned subsidiaries.


Pantaloon Women's Fashion

Pantaloon Retail, to be renamed Future Market and Consumer Group Ltd, will be a holding company and operate the businesses of foods, fast-moving consumer goods (FMCG), consumer durables, home products and other residual businesses.

Managing Director Kishore Biyani told Reuters in an emailed response to questions the restructuring would create three distinct businesses of fashion, retailing, and FMCG and consumer durables.

"It will also help us in more efficient raising and allocation of funds and resources for business expansion in each of the three companies that have been formed," he said.

The board also approved raising 3.68 billion rupees ($74 million) through an issue of equities and warrants on preferential basis at a meeting on Monday.

India's retail sector has been hit by a slowdown in the economy, denting consumer spending. A recent survey by KPMG has said that the slowdown would last 12 to 18 months, and that there would be a shift towards food retailing and FMCG products which were less affected by the downturn.

Shares in Pantaloon Retail, valued at nearly $630 million, have fallen 15.1 percent so far this year, while the main index has risen 13.7 percent. ($1=49.9 rupees) (Reporting by Janaki Krishnan; Editing by John Mair)

© Thomson Reuters 2024 All rights reserved.