Published
Nov 28, 2017
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Future group sees ‘huge potential’ for physical retail in India

Published
Nov 28, 2017

Future Group continues to remain bullish on the physical retail market in India with its CEO Kishore Biyani seeing ‘huge potential’ in this segment compared to e-commerce in the coming years.
 

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The company which recently launched its Retail 3.0 model under which it plans to open 10,000 Easyday stores by 2022 is also looking to scale up its other physical stores like Big Bazaar, FBB, Central for its next phase of growth and achieve its mammoth target of $1 trillion (Rs 64 lakh crore) set by the firm for 2047.
 
Future Group is unperturbed by the rise of e-commerce in India and feels that the online retailers will not be able to survive due to the high operational costs and small market share in India.

"Online retail has a threat from us and it's time people realised that they are not a threat to us, as they don't even have 1 per cent business share and the cost of doing business is also too high," Biyani was quoted as saying by a news agency PTI.
 
"China which people think is the most digital driven country has 82 per cent physical, America has 89 per cent physical model and similarly India too has huge potential for physical retail as online share is much less," Biyani added.
 
Future Group will be adding 500 Fashion Big Bazaar and 100 Big Bazaar stores in the coming years to increase its market share in the physical retail market. The company is witnessing a huge surge in the fashion segment with the help of its FBB, Central, Brand Factory stores and the expansion is likely eat into the share of online retailers especially in the tier 2, tier 3 markets.
 
Future Group which has four listed retail entities Future Retail Ltd, Future Lifestyle Fashion Ltd and Future Consumer Ltd and Future Enterprises Ltd with total revenue of $4.4 billion.
 
 

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