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Birla picks up majority stake in Trinethra - makes first big step of retail plan

January 18th, 2007

Retail is the hot sector in India and no business house can afford to miss this huge business opportunity. With growing income levels and increasing middle class, organized retail has a huge potential in the country. Big Bazaar, Spencers, Reliance Retail, Walmart-Bharti are all ready with their strategy for the upcoming few months. The only calm and silent man is Kumara Mangalam Birla of the Aditya Birla group.

The news is out now. Birla makes its first retail acquisition. Birla is said to have acquired ‘a significant majority shareholding in Trinethra Super Retail from India Value Funds’. There is no word from the group about the price of the acquisition. Trinethra will be managed by the Aditya Birla Retail. The group is hungry and is considering having a multi-format – both of large and small ones. The group might also be looking into other acquisitions to roll out its full retail strategy.

Entry Filed under: Equity Markets, Retail