Fu­ture Joins Hands with Laura Ash­ley for Home Fur­nish­ings

The Economic Times - - Brands & Companies - Sa­gar.Malviya@ times­group.com

Mum­bai: Kishore Biyani’s Fu­ture group has part­nered UK cloth­ing and home­ware re­tailer Laura Ash­ley that runs about 450 stores glob­ally and will have ex­clu­sive rights to make and sell mer­chan­dise as well as whole­sale distri­bu­tion in In­dia. Laura Ash­ley was well known in the 1980s for its flo­ral dresses and has a cloth­ing line as well. Fu­ture Group has signed the li­cens­ing deal for its larger busi­ness — home fur­nish­ings.

“We are try­ing to bring as­pi­ra­tional prod­ucts within Home­Town as there is enough po­ten­tial in the mar­ket. We are re­work­ing on a strat­egy for spe­cialty busi­ness and will part­ner or bring more global brands in the cat­e­gory,” Fu­ture Group CEO Biyani said. “We will also house the brand within de­part­ment store Cen­tral and open at least 15 stores in the next few years.”

About a year ago, Fu­ture ac­quired FabFur­nish and said it will spin it off with Home­Town to cre­ate a sep­a­rate listed en­tity with tar­get rev­enue of .₹ 1,000 crore.

While three-fourths of the fur­ni­ture and home-fur­nish­ings in­dus­try in In­dia is con­trolled by stand­alone stores and car­pen­ters, nearly half a dozen ecom­merce play­ers, in­clud­ing Flip­kart and Ama­zon, have en­tered the mar­ket in the re­cent past. Home­town has 37 stores at present.

Global giant Ikea will open its first In­dian store this year in Hy­der­abad and plans to open 25 storesin the coun­try by 2025.

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