Published
Oct 3, 2017
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Future Group to undergo retail transformation

Published
Oct 3, 2017

The CEO of Future Group, Kishore Biyani, has decided to turn his business from a retail company into a fast moving consumer goods (FMCG) company and will turn his attention to smaller stores.

Future Group will expand through opening more small stores - Future Group- Facebook


Future Group, the business at the helm of Big Bazaar and Swiss Tempelle, is a giant in Indian retail but the company’s CEO has decided to shift its focus in order to shake off its debt and respond to current trends. Biyani said about the firm's attitude to change: “Every three-five years we keep reorganising. Customers are changing, we have to change.”

One way to change is a shift in focus to small stores. Biyani said: “Small stores are something we are very gung-ho about and we expect them to grow phenomenally for us. Our next round of growth will come from small stores. There are two growth areas for us- one is FBB on the fashion side. We want to open 500 more FBB stores. And we want to open maybe 10,000 small stores.”

Biyani does not think, however, that focusing on smaller stores will put their supermarket Big Bazaar’s growth on the back burner.

“Big Bazaar is going to grow at 25-30 stores a year. It’s in a great position.”

Other expansions are also planned. "Central will be the largest expansion for us this year, with 16 Centrals coming up. Twenty new Brand Factories are [also] coming up.”

In terms of the company’s future and indeed present situation, Biyani said: “I’m a consumer goods company. I’m not a retailer any more. Retail is the distribution part of my consumer business. We are a brands company, having our own brands in food and fashion, and we are delivering it through our own retail chain which we control. In that sense, we are a consumer company.”

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