Future Group receives large orders from Reliance Industries
Future Group has also resumed its expansion of Big Bazaar stores and plans to add more in the coming year. The company also expects strong sales during its flagship sale event Sabse Sasta Din on 26th January.
Future Group is also betting big on fashion and FMCG with plans to diversify its portfolio with the addition of new brands by March 2021.
“We have received a large order from Reliance as well in Future Consumer and in Future Enterprises. The group is conceptualising two new brands that will offer products in multiple categories in fashion and FMCG. There is a lot of work that has been going on with these brands and you will see them come alive in stores by March,” PTI reported, citing an email by CEO, Kishore Biyani, to his employees.
“As you are aware, we have started opening new stores as well. A new Big Bazaar opened in Palassio Mall in Lucknow in December and has received very encouraging response from customers. One more Big Bazaar store is scheduled to open in Mokama in Bihar in January,” Biyani informed.
In August, Mukesh Ambani-led Reliance said it would acquire the retail and wholesale business as well as the logistics and warehousing business of Future in a deal valued at $3.38 billion, including debt. E-commerce major Amazon has raised objections over the deal and currently is embroiled in a legal battle with the same.
Copyright © 2021 FashionNetwork.com All rights reserved.