More (store)

More Retail Private Limited is an omni channel grocery brand which was previously known as Aditya Birla Retail Limited. This was when it was part of Aditya Birla Group[1][2][3] before More was sold to investors led by Samara Capital, a DBA of tru Independence Asset Management, LLC, a Registered Investment Advisor with the U.S. Securities and Exchange Commission,[citation needed] and Amazon.

More Retail Private Limited
More. stores
TypePrivate Company
IndustryRetail
PredecessorAditya Birla Retail Limited founded July 14, 1988 (1988-07-14)
Founded2007
HeadquartersMumbai, India
Number of locations
752 - SuperMarkets, 31 HyperMarkets
Key people
Mohit Kampani (CEO - Hypermarkets)
Sashi Gumma (CEO - Supermarkets)
ProductsSupermarket
Hypermarket
BrandsMore Supermarket, More Hypermart, More Megastore
Number of employees
over 11,000
Websitemoreretail.in

More Retail Limited provides customers products under its own labels.[4]

History

Aditya Birla Group entered the retail industry with the acquisition of Trinethra Super Retail in 2007.[5] Trinethra Super Retail had a strong footprint with over 172 stores spread across four states - Andhra Pradesh, Karnataka, Tamil Nadu and Kerala. In Tamil Nadu and Andhra Pradesh, Trinethra brand was being used, while in Karnataka and Kerala, Fabmall brand was being used. Later, all the stores were rebranded as "More. stores.[6]

In some stores, More offers prepaid points for each purchase linked with their mobile numbers. Customers would get discounts or exclusive benefits with their redeemed points. Earlier, More used to offer prepaid point cards to redeem the points but now this service is discontinued and cannot be used/redeemed, even if balance is available.

Restructuring

Various news reports, later confirmed by an order from Competition Commission of India, indicated the More was sold by Aditya Birla Group to investors led by private equity fund Samara Capital & E-Commerce player Amazon. Consequently, More is not part of Aditya Birla Group anymore.

References
  1. "Aditya Birla Group | Companies | Indian companies | Aditya Birla Retail Limited". Adityabirla.com. 23 June 2010. Retrieved 11 February 2011.
  2. Malviya, Sagar (7 July 2014). "Aditya Birla Retail borrows Rs 500 crore from Yes Bank". The Economic Times. Retrieved 3 December 2018.
  3. "Forgot Password -". Morestore.com.
  4. "Aditya Birla Group". Adityabirla.com. Retrieved 24 June 2019.
  5. "Trinethra: Birla's first retail takeover". Timesofindia-economictimes.
  6. "Media Releases". Abg.com. Retrieved 24 June 2019.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.