Chief Executive Officer (CEO) Kishore Biyani on Tuesday announced his Retail 3.0 plan, through which he aims to transform his empire into the largest integrated consumer business in Asia by 2047. The revenue from this could be $1 trillion (Rs 64 lakh crore in current exchange rate).
This plan includes opening 10,000 member-only Easyday
stores to make it a Rs1.5 lakh crore business opportunity by 2022. Facebook
will provide it analytical support.
The new retail format will have 2,000 members who would be able to order online from these stores and avail discounts. “It’s going to be a brick-and-mortar store where you can walk in, you can send texts, you can call and order, or you can use the app,” said Biyani.
is already the digital advertising partner for the Future Group.
It will also provide in-depth user-behaviour profiles. Google
will help with location-driven member acquisition across the country.
“We have 300 million smartphone users spending up to three hours online every day. We can help map where the next Easyday
store should be set up,” said Rajan Anandan, managing director, Google
Biyani expects the Future Group
to become a top global fashion brand with this venture.
Explaining his plan, the Future Group
CEO also said each store will sell up to 3,500 stock keeping units. “We expect over 10 million consumers to spend up to Rs 1 lakh each by 2022 through Easyday
stores,” said Biyani.
The group is targeting 1,100 stores by the end of FY18.
Three data analytics centre for “Tathastu” will be set up in Kolkata; the brand will be launched in Punjab first. This announcement comes within days of Reliance Jio announcing plans to tie up with corner stores to offer retail services to users.
In June 2015, Biyani announced his vision to earn Rs 1 lakh crore by 2021 through small stores, data analytics, the fast-moving consumer goods business and so on. Biyani has acquired Big Apple, Nilgiris, Bharti Retail, the retail business of Heritage Fresh, and Hypercity to build his empire.