Future Group plans to invest Rs350 crore to open 140 exclusive outlets
FBB COO Rajesh Seth says Future Group aims to double its turnover in the next two years
New Delhi: Kishore Biyani-led Future Group’s value fashion format FBB plans to invest Rs350 crore to open about 140 exclusive outlets as it aims to double turnover in the next two years.
At present, FBB retails its products through 385 points of sales in Big Bazaar stores, including 62 exclusive outlets.
“Over the last two years, FBB has undergone a significant transformation. We have worked on improving products assortments, in-store experience by reworking/renovating 100 points of sales where FBB is sold and also strengthened our supply chain. Now we will cement our positions to drive growth,” FBB COO Rajesh Seth told PTI.
He further said: “We plan to have 200 exclusive FBB outlets in the next two years...financial year 2020-21. We will invest about Rs350 crore to open these stores. We aim to double our turnover in the next two years.” FBB, however, does not disclose its financial numbers.
Out of these planned about 140 new exclusive stores, 40 will be opened in the current fiscal year.
FBB has also partnered with global fibre brand LYCRA to offer products at its stores in India.
- Enact new law to enable public credit registry, says RBI’s Viral Acharya
- PNB fraud: CBI court grants bail to ex-MD Usha Ananthasubramanian
- RBI staff to go on mass leave on 4 and 5 September over pension issues
- Everybody to blame for NPAs, says SBI chairman Rajnish Kumar
- Emerging markets turmoil revives a dreaded old Opec ghost
Editor's Picks »
- Floods bring to fore staff shortage at disaster management agencies
- Centre, states differ over who will foot bill for MSME tax break
- IITs move to cut course fees, woo more foreign students
- As India, Japan talk security, next in Delhi is China defence chief
- India’s GDP rose fourfold in 1993-2012, while wages only doubled: ILO