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Future Group goes all out to expand retail network

The Future Group is set to expand its network of Big Bazaar and small format stores during the course of this financial year. Expansion plans include: opening of 20 Big Bazaar stores and around 100 small format stores. Future Group expects business to grow 20 per cent overall in the current fiscal. The retailer is opening two small stores a day and will soon increase the pace to three outlets a day.

Future Group at present operates in 300 plus cities with over 1,000 exclusive stores spread across the country. Future Lifestyle Fashions may sell 10 per cent of its share. Future Retail recorded a profit of Rs 11.3 crores in 2017-18 on sales of Rs 18,478 crores. The retailer is now anticipating online sales to cross Rs 1,000 crores in 2019.

Future Group is reasonably strong in all categories it’s in — food, fashion and home. Its first aim is to retain market share in the organised food and grocery market. Over the past six years, the company has acquired half a dozen supermarket store chains and put together a total retail space of 13.6 million sq ft, with a presence in 255 cities through 930 stores. Nearly 10 per cent to 15 per cent customers are acquired online-to-offline by Future Group which it expects to go up to 35 per cent, especially through online promotions.

 

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