Future Group expects 25 percent jump in revenue for fiscal 2018-19

By

Maverick Martins

Published
Jan 25, 2018

Future Group, which owns two listed retail entities Future Retail and Future Lifestyle Fashion (FLF), is expecting its retail business to generate revenue of Rs 40000 crore (approx $ 6.3 billion) for fiscal 2018-19.
 

The company expects revenue to jump by 25 percent for the next fiscal on the back on its expansion plan across the country. According to a top company official, the company is expected to close this year at Rs 30000 crore (approx $4.73 billion).
 
Post the launch of its latest digital avatar Retail 3.0, Future group has been bullish in the Indian market expanding aggressively across all verticals.

"We are looking at retail business of Rs 40,000 crore by next year; out of which Hyderabad will contribute Rs 4,000 crore," Future Group CEO Kishore Biyani was quoted as saying by news agency PTI.
 
"We will touch Rs 40,000 crore by next year as a Group. Future Group. Currently, this year, we should be Rs 30,000 crore," he said.
 
Future Retail is banking heavily on technology to meet its expected targets and had earlier tied up with Google and Facebook to enhance consumer engagement. From the fashion segment alone Future Group is looking generate revenue of Rs 20,000 crore ($3.5 billion) in the next fiscal, with an aim to enter the top 10 fashion companies in the process.
 
Future Group has also collaborated with Suresh Productions and Annapurna Studios, two major production houses based in Hyderabad, to create a film on the brand.
 
Future Group with total revenue of $4.4 billion operates the Big Bazaar, Food Bazaar, Easyday stores along with fashion stores like Brand Factory and Central.