Future Group sets target $15 billion turnover in next 5 years

By

Maverick Martins

Published
Mar 21, 2017

Future Group is aiming to reach a turnover of $15 billion in the next 5 years from the current $3.5 billion, a top official of the company told the Economic Times.

"We have set a target to grow to $15 billion from $3.5 billion in this next 5 years," said Rakesh Biyani, joint managing director of Future Retail and co-founder of Future Group.

According to Biyani, the population of influential consumer in India will grow to 350-400 million by 2020, which is similar to the entire population of the United States and this is the customer base they cater to.

Biyani further said, the amount of value-added products the company will import in the next five years will rise by nearly 200 percent without disclosing the current import value.

Biyani also said that retail space in India is expanding rapidly. Giving the example of his own chain, he said, “Currently we have close to 20 million square feet of retail space in operation in India. And we’re looking to expand our network by 14-15 per cent per annum. So that’s adding about another two to three million square feet of new retail space every year.”

Future Group operates through its four listed entities Future Retail, Future Lifestyle Fashions, Future Consumer and Future Enterprise.