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| Future Brands to enter sportswear, skincare,cosmetics segments |
| Press Trust of India / New Delhi Aug 03, 2008, 15:37 IST |
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Kishore Biyani-promoted Future Group company, Future Brands is expanding its basket with plans to foray into sportswear segment besides launching a range of skin care and cosmetic products this year.
The company, which will be strengthening its apparel segment by introducing a new denim brand in another three months, plans to invest up to Rs 50 crore for its various activities by the next year.
"We are focusing into the apparel segment. We are coming up with sportwears, casual wears and skincare products in the next three months," Future Brands Managing Director and CEO Santosh Desai said.
The new clothing lines will be launched in metro cities and other smaller towns.
"For the apparel segment we are targeting Class I and Class II cities and other smaller towns," he said, adding the firm is also relaunching its apparel brand 'Bare' very soon.
On the investment front, he said, "This year we plan to invest around Rs 35 crore, out of which Rs 7 to 8 crore will go into marketing. We will take it to Rs 50 crore by the next year."
Future Brands, which sells its products through the group's big retail formats such as Big Bazaar and Pantaloons, is planning to increase its availability in other stores as well.
"We will be entering into general trading very soon. So our products will be available not only in Big Bazaar outlets but also in other stores including multiplexes and all," Desai said.
He said the firm is aiming a turnover of around Rs 1,600 crore by 2011. It has a turnover of around Rs 500 crore and is aiming to increase it to Rs 850 crore by the next year.
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