Future Group partners with Vardhman Group to create apparel products
Future Group has entered into a partnership with Vardhman Group for creating apparel products for its in-house brands FBB, Central and Brand Factory. It plans to launch 6-7 products every year.
Under the partnership, the two companies will work closely to develop affordable fashion apparel products.
“Apparel is a very important business for us and it is growing rapidly. We have signed a memorandum of understanding (MoU) with the Vardhman Group to co-develop products for our apparel business. This strategic partnership will enable us to make quality fashion more affordable,” Future Retail Joint Managing Director Rakesh Biyani told PTI.
“We plan to launch 7-6 products every year. Initially, the products will be for our value fashion format FBB. Later, we will launch these co-developed apparels at other Future Group apparel formats,” he added.
Future Group owned by Kishore Biyani has planned massive expansion for its fashion format chain FBB (Fashion Big Bazaar) and the launch of the new products under this partnership is expected to help FBB expand its customer base in the country.
The company had earlier said that it will add 140 exclusive brand outlets for FBB with an investment of Rs 350 crore ($52 million). Currently, FBB brand is present in 386 Big Bazaar stores and has 62 exclusive brand outlets in India.
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