Future Group sees 'Holii' as Rs 55cr brand

Retail major Future Group is expecting to clock revenues of Rs 55 crore from Holii — a joint venture with luxury leather goods maker HiDesign — in the next two years, according to Ashni Biyani, director of Future Ideas.

“The brand is a little over a year-old in the Rs 580-crore organised ladies’ handbag market in the country, and is only a small part of the Future Group now. We imagine Holii as a Rs 55-crore brand in the next two years,” Biyani told Business Standard.

Currently offering handbags, mobile pouches and wallets for Indian women, Holii will shortly move on to coin pouches, vanity cases and belts, even as it looking at options like adding watches and sunglasses, way forward. The average selling price of Holii’s handbags is Rs 795.

“We are still exploring the worthiness of the proposed categories and you may see a line of watches and sunglasses sometime next year,” she said, adding the company was expecting to spend around 15 per cent of its turnover on advertising and brand promotion activities.

Future Ideas, which deals with the whole aspect of idea creation and scenario planning activities of the group, is working on “creating a new language” for its food and grocery retailing format – Food Bazaar, which will involve remodelling the entire 182 Food Bazaars across the country.

“This (remodelling) is one big piece of work that we are doing. It is a very futuristic plan of action in keeping with the Indian consumer insights. The first revamped Food Bazaar will come up at Rajajinagar in Bangalore by January-February next year,” she said, while declining to reveal the numerics, in terms of investments.