- Meenakshi Kumar |
Future Retail may open as many as 35 standalone FBB apparel stores this fiscal year. At the moment, FBB has 53 standalone outlets and also sells its products in 282 Big Bazaar hypermarkets. While the average size of existing FBB stores varies from 9,000 to 12,000 square feet, newer ones will be bigger, at 12,000 to 15,000 square feet. Currently, around 70 per cent of FBB’s stores are located on high streets and the remaining 30 per cent in malls. In future the ratio of stores within malls could increase.
FBB is also planning to lower its entry price points across categories by four to five per cent. Most products are priced below Rs 1,000 with the cheapest—children’s T-shirts at Rs 99 and the most expensive —its festive wear collection—at about Rs 1,899 to Rs 1,999.
Children’s wear currently accounts for around 20 to 22 per cent of FBB’s business (55 per cent girls, 45 per cent boys). Women’s wear contributes around 35 to 40 per cent and the rest comes from men’s wear. FBB wants to establish children’s wear at a price point which is probably half or one-third of what a national brand would offer.