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Future Group keen on foreign alliances

By FashionUnited

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India’s largest retail conglomerate Future Group is keen


on foreign direct investment participation. The head of the retail giant, Kishore Biyani said that he is "open" to the idea of collaborating with foreign retail brands. He feels the retail industry in India needs access to more capital. Any form of competition is good for the business. Till today, the Indian government has refused the entry of global retail giants like Wal-Mart or Tesco directly into India. Wal-Mart, for instance, is in a wholesale joint venture with Bharti.

According to Future Group, it has already made its mark in the metros with various retail stores, such as Pantaloon. Now they are targeting smaller cities like Durgapur, Guwahati, Vizag and Mysore for the expansion and growth of its retail business. It also aims to give the stores an international feel and look to keep up with competition and has an image makeover in the pipeline for the apparel and accessories chain to target youngsters.

Biyani said that the company is planning to double the number of its flagship multi-brand Pantaloon stores in the next three to four years.  They have already opened their 50th stores. Going forward, the company is planning to open 50 more stores in the next three to four years. Out of these, 10-12 stores will be opened in the next 12 months. They have already identified the location for 25 stores out of which works is already under process for 18. Majority of these will be in the smaller cities where the income is good and potential of growth is better.
Future Group