Future Group likely to hive off Big Bazaar to raise funds

The Future Group announced that it was planing to hive off the Big Bazzar format, one of its most popular formats, to raise funds. The procedures for the split are reportedly in the last stages. The company will be focusing on the four metros and plans to dominate the markets of the top eight metros. The company hopes to have 11 Big Bazaar stores in Bangalore, eight in Mumbai and seven in Kolkata by the end of the year. New stores will carry private label products. At present, there are 41 Big Bazaar outlets, with nine stores having opened in the past two months.