Future Group eyes $1-trn revenue by 2047

Future Group Chief Executive Officer (CEO) Kishore Biyani on Tuesday announced his Retail 3.0 plan, through which he aims to transform his empire into the largest integrated consumer business in Asia by 2047. The revenue from this could be $1 trillion (~64 lakh crore in current exchange rate).

This plan includes opening 10,000 member-only Easyday stores to make it a ~1.5-lakh crore business opportunity by 2022. Facebook and Google will provide it analytical support.

The new retail format will be called “Tathastu”. It will have 2,000 members who would be able to order online from these stores and avail discounts. “It’s going to be a brick-and-mortar store where you can walk in, you can send texts, you can call and order, or you can use the app,” said Biyani.

Facebook is already the digital advertising partner for Future Group. It will also provide in-depth user-behaviour profiles. Google will help with location-driven member acquisition across the country.

“We have 300 million smartphone users spending up to three hours online every day. We can help map where the next Easyday store should be set up,” said Rajan Anandan, managing director, Google India.

Biyani expects Future Group to become a top global fashion brand with this venture.

Explaining his plan, the Future Group CEO also said each store will sell up to 3,500 stock-keeping units. “We expect over 10 million consumers to spend up to ~1 lakh each by 2022 through Easyday stores,” said Biyani. The group is targeting 1,100 stores by the end of FY18.