Future Group to invest Rs 900 cr for expansion

Future Group, the country’s largest retail chain, will invest Rs 900 crore in the next three years for expansion. Along with its flaghsip brand Big Bazaar, the company is exploring new retail segments like sports, theme parks, food, fashion and consumer electronics, Group CEO Kishore Biyani said here on Thursday.

“We are investing over Rs 900 crore in the next three years. We are eying to develop around three million square feet area for the retail outlets out of which Big Bazaar stores will acquire 70 per cent . We are also exploring new retail segments like sports, food and fashion and home furnishings,” he told reporters.

On foreign direct investments in the retail business, he said it was too hypothetical to comment on it. “Retail runs on scale rather than margins. In the next seven to eight years, the retail business will touch a trillion dollar market and for such a huge size, even lesser margins are profitable.”

The group recently acquired a 56 per cent stake in Amar Chitra Katha Pvt Ltd, the publishers of cult brands Amar Chitra Katha and Tinkle, and is also setting up a theme park in Chennai. It will introduce characters of Amar Chitra Katha in every store in digital format as well as in theme parks.

Biyani allayed fears of an imminent recession, saying India was not likely to be affected.

“We don’t have to worry for recession and it will not affect Indian markets because India is still in the growing phase,” he said.