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Future Group partners with Vardhman to co-develop products for apparel biz

Press Trust of India  |  New Delhi 

has partnered with fabric Vardhman to co-develop products for its business and plans to launch 6-7 products every year.

will use Vardhman's fabric for products being sold across its formats such as FBB, Central and Factory.

"is a very important business for us and it is growing rapidly. We have signed a memorandum of understanding (MoU) with the to co-develop products for our business. This strategic partnership will enable us to make quality fashion more affordable," Future Retail Joint told

"We plan to launch 7-6 products every year. Initially, the products will be for our value fashion format FBB. Later, we will launch these co-developed apparels at other apparel formats," he added.

Biyani, however, did not disclose the financial details of the agreement.

Earlier, FBB had said it plans to invest Rs 350 crore to open about 140 exclusive outlets as it aims to double its turnover in the next two years.

At present, FBB retails its products through 385 points of sales in Big Bazaar stores, including 62 exclusive outlets.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 11 2018. 15:20 IST