Future Group forays into premium foods category

India's leading retailer Future Group, mainly known for its value format stores, is getting into the premium foods category with a new brand of chain, 'Food Hall' targetting affluent customers.

The group, which has identified 10 locations across metros to set up 'Food Hall' stores after opening the first one in South Mumbai, has also decided to distribute the role carried out by its erstwhile board member and CEO of Future Value Retail, Raghu Pillai, who died due to a heart attack in April this year, to other top executives.

'Food Hall' will be at the top-end of a range of stores that includes KB Fair Price shops, Food Bazaar and Food Right in the foods category of the group.

"With Food Hall we are targetting customers who had started with modern retail 5-7 years back, whom we think are now ready for the next level of offering," Future Group Director (Integrated Food Strategy) Damodar Mall told PTI.

He said the approach in the foods category is similar to the one that the group has adopted in apparels segment, where it has a range of international brands to value labels.

"In a market like India, we need a portfolio approach to cater to different sections of the society. Food Hall will cater to the rising aspirations of our customers," he said.

Food Hall will sell premium fresh and packaged foods of both domestic and international brands, ready-to-eat items, cuisines from across the continents, besides health foods.

It will be competing with the likes of Nature's Basket by the Godrej group that sells world food, beverages, ingredients and premium and niche food products.

"We will even offer deliveries at home and offices near our store," Mall added. These food will be prepared by Chefs at the store.

Asked about the expansion plan for Food Hall, he said: "Right now we are at a learning stage. We will take it gradually although we have identified 10 locations, mainly in the metros."

Focus right now is to learn and get more customer feedback, he said, adding, no timeline has been fixed for opening the next Food Hall store.

On the redistribution of roles after the death of Pillai, a company official said Rajan Malhotra, Future Group President, Retail Business Strategy will now take additional responsibilities of the online venture 'Ezone' and KB Fair Price Shops.

The responsibility of Home Town -- a large-format home solutions store -- will now be directly taken by Home Town President Mark Ladham and Home Town CEO Mahesh Shah, who were reporting to Pillai.