At a time when the Indian retail sector is being actively considered to be opened up to global firms, Future Group doesn’t seem much perturbed as it believes it has a first-mover advantage just as many other Indian retailers.
The group aims to keep expanding aggressively. The group believes FDI in retail will be good for the Indian retail business in terms of healthy competition. “Also it is a benefit for customers as they can get access to international merchandise at low prices,” Shankar Suryanarayanan, Chief Marketing Officer, Central and Brand Factory, part of Future Group.
Future Group’s Central today has 18 stores and it aims to take that number to 50 in the next three years.
The brand saw a year on year growth of about 37 per cent last year and is aiming at a 20 per cent growth this fiscal.
Meanwhile, it’s fashion value retail format Brand Factory which claims to have 200 of the top brands at a discounted price across the year, is set for a change in the brand imagery. Brand Factory today stands at 15 stores and is aiming to be 100 stores-strong in the next three years. Brand Factory had a year-on-year growth of 33 per cent last year and is aiming at a growth of over 30 per cent this financial year.
