Chennai, Mar 9 (UNI) Pantaloon Retail (India) Limited, a leading retailer in lifestyle and value formats is planning to open 70 to 75 shops across the country, involving a total investment of about Rs 200 crore in the next two years.

Talking to newspersons after the inauguration of its 25th "Pantaloon Fresh Fashion" showroom here, Mr Rohit Malhotra, Head, South Zone, said one third of the proposed new shops would be located in the south.

He said the new Chennai store, the second in the city, spread over 14,000 sq ft area, was set up at a cost of Rs 2.5 crore. It offered a range of popular brands and laid emphasis on "young at hearts" and focused on "fresh look and feel attitude." "We expect an annual business to the tune of Rs 10 crore from this store," Mr Malhotra said adding the company has drawn out plans to open ten more shops in the state, eight shops in Karnataka and another seven to eight stores in Andhra Pradesh in the next one and a half to two years.

Presently, Pantaloons had four central Malls and in the next 20 months, it proposed to open Central Malls in each state capital, including one in the city, he said.

UNI