Future Group to go big on fashion, invest Rs 350 crore on FBB expansion

India’s top retailer Future Group owned by Kishore Biyani is planning massive expansion for its fashion format chain FBB (Fashion Big Bazaar). The company will add 140 exclusive brand outlets with an investment of Rs 350 crore (approx $52 million), said a top company official.

Future Retail will also take the brand to international markets through its JV with Oman based Khimji Ramdas (KR) Group that plans to open stores in Oman and other countries in the Middle East. FBB is expected to open 40 stores during the current fiscal.
The value fashion brand FBB, which aims to be one of the top ten performing global fashion brands in the 2019 financial year, has been expanding aggressively across the country. The company is hoping that the domestic and international expansion will help double its revenue by 2020.
“Over the last two years, FBB has undergone a significant transformation. We have worked on improving products assortments, in-store experience by reworking/renovating 100 points of sales where FBB is sold and also strengthened our supply chain. Now we will cement our positions to drive growth,” Rajesh Seth, COO, FBB was quoted as saying, by news agency PTI.
“We plan to have 200 exclusive FBB outlets in the next two years financial year 2020-21. We will invest about Rs 350 crore (approx $52 million) to open these stores. We aim to double our turnover in the next two years,” he added.
FBB is owned by Future Retail, which has around 914 operational stores across Big Bazaar, FBB, Easyday, Foodhall, Ezone and Home Town in 253 cities across India.

Currently, FBB has 62 exclusive brand outlets and also retails through 385 points of sales in Big Bazaar stores.

Copyright © 2019 FashionNetwork.com All rights reserved.

Fashion - Ready-to-wearRetail