Future Group enters Tier 2, 3 Cities
Future Group is now opening smaller stores in tier 2, 3 cities. Future Retail’s private labels currently contribute 35% to the overall sales of the company and with this expansion it is eyeing the sales to double and touch 65% in the next five years. The company’s profit jumped 108 percent to Rs 147.85 crore (approx $23.1 million) for first quarter ended 30 June 2017 witnessing an 18 percent rise in income to Rs 4,707.44 crore (approx $737 million). Future Retail operates 893 stores across Big Bazaar, FBB, easyday, Foodhall, ezone and Home Town in 246 cities across India.