Future Group sees strong growth in fashion segment during Diwali
Indian fashion and retail conglomerate Future Group has seen its business pick up across division from September and expects the trend to continue during the rest of the season.
The company started the quarter slowly amidst the ongoing slowdown but witnessed strong sales closer to the Diwali festival in September and October.
Future Group which owns fashion brands and stores like FBB, Central and Brand Factory has seen double-digit growth in the segment during the period.
"Diwali started little later; the business picked up from September and till today we are seeing good traction on Diwali,” Kishore Biyani, CEO of Future Group told CNBC-TV18 in an interview.
"Last year also fashion was good for us. So we are finding a huge base of growth of 18-20 percent, but I believe fashion would have grown in double-digits for us. Non-fashion and food grew lower in Q2 than Q1,” Biyani added.
Future Group operates the Big Bazaar, Food Bazaar, Easyday stores along with a host of fashion stores. Future Group is expecting its retail business to generate revenue of Rs 40,000 crore (approx $ 6.3 billion) for fiscal 2018-19.
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