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Future upbeat on future

Kishore Biyani in Calcutta on Monday. Picture by Kishor Roy Chowdhury

Calcutta, Jan. 6: Buoyed by the success of Future Retail, the Kishore Biyani-led Future Group is eyeing a turnover of Rs 15,000 crore by March.

Future Retail — that operates retail hypermarts such as Big Bazaar, Food Bazaar, Fashion at Big Bazaar (FBB) and Home Town — is expected to register a turnover of Rs 11,000 crore by the end of the current financial year.

For the next fiscal, Future Retail, the listed entity of the group, hopes to notch up a turnover of Rs 13,000 crore, Biyani said while opening a Big Bazaar Family Centre outlet on VIP Road.

According to Biyani, fashion brands such as DJ&C, Bare and Lee Cooper could be worth Rs 500 crore each by 2015. Future Group is the exclusive licensee for these brands. DJ&C is likely to overtake Bare as the largest fashion brand of the group.

The retail major is planning to introduce innovations in the food space, while striving to strike the right cord in the fashion business. It is interested to bring the retail format Central to Calcutta and would ideally require about 1.5 million sq feet. “We are not getting space. It has to come up in the right location,” he said.

The company is likely to launch its exclusive frozen food brand soon. It plans to study the food habits of consumers and introduce more indigenous products.

The new outlet takes the total number of Big Bazaar stores to 165 nationally and 14 in Calcutta. The company plans to add 35 outlets in India within 18 months.

Spread over 60,000 square feet in a single floor, the new store on VIP Road will focus on customer convenience, including cutting and dicing vegetables and getting grains ground and made into rotis.

“Food habits are unique and what we can do here is unprecedented. We are working a lot on that. At Big Bazaar, about 55-60 per cent is contributed by the non-food segment and the rest comes from food. For the group, 65 per cent comes from the non-food category.” Biyani said.

“It is the ambition of our food company, Future Consumer Enterprise Ltd (FCEL), to be Rs 10,000 crore as part of our vision 2020,” he added. FCEL has inked an agreement with California-based Sunkist Growers to manufacture and sell fruit juice, sparkling beverages and other food products under the Sunkist brand.

 
 
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