Presently, around 80 Big Bazaars are operating countrywide and by the end of this year, company anticipates 100 percent growth by taking it to 160. At the moment, there are 5 hometowns and 35 E-Zones, which are expected to touch 10 and 70 respectively by 2008 end.
Future Group currently occupies 8 million square feet of retail space and by the end of 2008 is expected to acquire 16 million square feet. Investment in the retail projects is around Rs160 crores.
While discussing about the Future Group brands, Mr Biyani said, “Our Company owns 19 brands, which are sold in all the retail formats across the group. But we plan to increase the distribution channel by selling them in multi brand outlets.”
When asked about the recent venture in the logistics division, the Future Group head reveals, “We found that none of the existing logistics companies would be able to take care of all our logistics needs. So we decided to float our own logistics division which will have a fleet of customized trucks to run between and within cities. As of now, we have 23 lakh square feet of warehousing space that will be 50 lakh square feet in near future.”
While talking about company's strategies to face competition from multinational retail giants like Wal-Mart and Carrefour, Mr Biyani said, “We are fully prepared to tackle the challenge and it is for them to work out a strategy.”
Future Group's turn over in the present fiscal has reached US $2 billion.
Fibre2fashion News Desk - India
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