Trinethra Super Retail Ltd. was established in 1986. It bought over Fabmall India Pvt. Ltd, a Bangalore based retail chain in November 2004, making Fabmall a 100% subsidiary of TSRL. In the same month, India Value Fund, an Indian private Equity Fund, bought a majority stake in Trinethra. The integration gave the company an added edge, and the pooled resources of expertise and know-how have propelled the group to the forefront of retail in South India. Today, Trinethra is amongst the most aggressive food and grocery retail chains with current annualized sales of over Rs. 240 crore per annum and plans to invest Rs 100 Crore over 2 years.
As part of its plan Trinethra aims to consolidate and maintain its leadership in AP and expand aggressively in Karnataka, Tamil Nadu and Kerala to emerge as the largest player in these destinations. It plans to enter different retail formats while increasing its number of stores to 205 and close 2006-07 at an annualized sale of Rs. 360 crore. "As the market continues to grow, we will leverage our experience in grocery retail to experiment with various formats and grow our business significantly,'' added Pranab Barua.
