Future Group to be Among top 10 Global Fashion Cos, Biyani
Future Group, which owns fashion chains like Big Bazaar, Brand Factory and Central, will be among the top 10 global fashion companies selling about 35 crore garments by FY2019, its CEO Kishore Biyani said.
The company, which has built an integrated warehouse with a capacity of over 30 crore garments in Nagpur, is betting big on the growing demand from fashion conscious customers and consumers’ interest for lifestyle and fashion.
Biyani remarked that by next financial year the fashion units alone will clock total revenue of about ` 20,000 crore.
Biryani stated during an interview,“We will be among the top 10 fashion companies in the world by FY19 manufacturing about 35 crore garments and the notable factor is that the operations are only in India, while others have global presence.”
The company sells other brands along with its own such as John Millers, DJ&C, Converse, Clarks, Urban Yoga, Bare, Indigo Nation and Scullers, among others.
Its portfolio covers fashion categories including formal menswear, casual wear, active or sportswear, ethnic wear, denim wear, footwear and accessories for men and women.
While many of the brands have been developed by the group over a decade, the company also has exclusive licensees and joint ventures with global brands.
The group’s fashion outlets, including Fashion at Big Bazaar (FBB), are run by two operating listed companies — Future Retail and Future Lifestyle Fashions Ltd.
Future Retail had reported a standalone net profit of ` 153.16 crore for the second quarter ended September 2017. Future Lifestyle Fashions reported a consolidated net profit at ` 30.28 crore during the same quarter.