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Future Group expects Rs850 cr in sales during Great India Fest

Future Group expects Rs850 cr in sales during Great India Fest
PTI
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First Published: Mon, Apr 19 2010. 05 35 PM IST
Updated: Mon, Apr 19 2010. 05 35 PM IST
New Delhi: Kishore Biyani-promoted Future Group on Monday said it expects sales worth Rs850 crore during the month-long shopping festival at its stores, which began last week.
The group also said it expects to attract over 2.75 crore bargain hunters at its 1,000 outlets across India during ‘The Great India Shopping Festival’.
The festival, which began 16 April and will go on till 17 May, covers all Future Group stores, including Pantaloons, Big Bazaar, Central, Hometown, Food Bazaar and Brand Factory.
“Last year, during the first edition of the festival, we recorded sales of Rs700 crore. This time we are targetting a growth of over 20% and total sales of up to Rs850 crore at our group’s outlets,” Big Bazaar business head (north zone) Vineet Jain said.
He said the group is also aiming to increase its footfall, or number of customer visits, by over 20% during this year’s festival.
“During the month, we are targetting footfalls of 2.75 crore, against 2.50 crore customers during last year. As the market condition currently is much better compared with last season, we expect a major boost in both demand and sales,” Jain said.
The festival, which was started last year by the Rs10,000 crore group, includes special discount offers, besides customer interactive programmes like food sampling, lucky draws and beauty contests.
“It also offers us an opportunity to amalgamate our shopping formats, which is part of our group’s recent focus area. Besides, the customer engagement programmes allow our brands to be more recognisable,” he said.
Future Group had last year announced plans to invest Rs3,000-4,000 crore to more than double its retail space to around 24 million sq ft by 2013-14. This is part of its ambitious effort to increase revenue to Rs25,000 crore during the period, from Rs10,000 crore in 2008-09.
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First Published: Mon, Apr 19 2010. 05 35 PM IST