Future Retail planning to sell Hometown

By

Maverick Martins

Published
Mar 8, 2017

Indian retail major Future Retail said it is considering various options in regards to sale of its home furnishing business Hometown, according to a news report.

"The Board has given in-principle authority for considering various options with regard to Hometown format, however, there is no final understanding which had been arrived at to date," the Kishore Biyani-led firm said in a filing to BSE.

The company said nothing has been finalised yet, adding that it "would avoid giving any disclosures about possible transactions to avoid any speculative activities".

The company was responding to queries that Future group plans to sell home furnishing business Hometown, shut down sportswear arm Planet Sports and merge stores of electronics chain E-zone with supermarket Big Bazaar.

Future Retail launched HomeTown in April 2007 with its first store at Noida. HomeTown retails home decor products including furniture.