Fu­ture Group eyes on­line sales of around ₹1,000 cr this fi­nan­cial year

Hindustan Times (Noida) - - HTBUSINESS - Press Trust of In­dia feed­[email protected]

NEW DELHI: Fu­ture Group is ex­pect­ing on­line sales of around ₹1,000 crore this fi­nan­cial year, its founder and CEO Kishore Biyani said.

The com­pany is ex­pand­ing its pres­ence in the e-com­merce space and plans to take its fash­ion dis­count re­tail chain Brand Fac­tory on­line by March this year.

“On­line for us should be ₹1,000 crore busi­ness for us this fi­nan­cial year,” Biyani said.

How­ever, he de­clined to pro­vide on­line sales fig­ures for the pre­vi­ous fis­cal.

Presently, the com­pany has on­line pres­ence in the fash­ion seg­ment with brands like FBB and Fu­ture Life­style. Fu­ture Group, which had closed its on­line fur­ni­ture store busi­ness Fab­fur­nish, is pre­par­ing for a ma­jor push in the e-com­merce space with Brand Fac­tory.

“Our big­gest launch in the on­line sec­tion is go­ing to hap­pen in March which is brand­fac­tory.in,” said Biyani.

Over the re­cent changes in norms for e-com­merce com­pa­nies, Biyani said, “For us, this pol­icy was al­ways ex­ist­ing and there is noth­ing new in this pol­icy. This pol­icy ex­isted. It’s more about clar­i­fi­ca­tion.” Asked whether the pol­icy would help the phys­i­cal stores, he said, “I don’t think so.”

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