Future Group to sell financial products in its stores

Future Group today said it will start selling financial products in all its large retail stores, including Big Bazaar and E Zone following a tie up with Future Capital.

Future Capital, which today launched its first financial retail stores within Future Group's large format outlets said it plans to launch 100 such stores within one year.

It expects to have over 1,00,000 customers onboard during year one and disburse Rs 1,000 crore of secured loans in 2011-12 from the stores.

"The strategic tie up with Future Group's retail stores has offered Future Capital the magnanimous bandwidth of large format retail stores namely Big Bazaar, E zone and Hometown," the company said in a statement.

Future Capital said its 'Financial superstores' with sizes ranging from 150-350 sq ft will be one stop shop for all its financial products, including loans, payment solutions, wealth management and equity broking solutions and insurance offerings among others.

The Future Group currently has 200 large stores like Big Bazaar, Hometown, E Zone, Pantaloon and Central's with over 15 million square feet of retail space and over 200 million customer footfall annually.

"We will meet all four financial needs for the customer, borrowing, investment, protection and financial planning we will offer car loans, home loans, property loans, gold loans, life insurance. We are planning to launch 100 of these financial branches by March 2012," Future Capital Vice Chairman and Managing Director V Vaidyanathan said.