Future Group news and archive

Reliance Retail to buy Future Group's retail, wholesale businesses

Billionaire Mukesh Ambani's Reliance Industries Limited announced that its unit Reliance Retail Ventures Limited or RRVL has acquired Retail & Wholesale Business and the Logistics & Warehousing Business from the Future Group for lump sum aggregate consideration of 24,713 crore Indian rupees. Reliance specified that the acquisition is being done...

Retail

Amazon’s India spending down this year

Amazon’s investment in its India marketplace unit so far this year has only been a third of what it did in 2018. This is the first time Amazon’s yearly investment in India has come down since it set up shop in 2012. However, the US online retail leader continues to build an omni-channel play by snapping up stakes in some of the largest offline...

Retail

Skechers, Future Group end JV, Skechers to operate independently in India

Footwear major Skechers has purchased the minority share of its joint venture with Future Group. This means the business is a wholly-owned subsidiary of Skechers USA. The subsidiary will continue operating under its existing structure and from its existing headquarters location in Mumbai. Skechers is still a relatively young brand India, having...

Retail

Aditya Birla Fashion Retail relaunches ecom website

Aditya Birla Fashion and Retail has re-launched its e-commerce website aiming to grab a slice of the country’s lucrative online fashion retail market with a revamped hybrid offline-to-online e-commerce model. India’s thriving e-commerce sector is largely driven by the country’s rising purchasing power, which is currently the second largest in...

Retail

Brand Factory to be launched online

Future Group will launch its online site brandfactory.in in February next year. This would be a major online project of the group in the ecommerce space after it closed its online furniture store business FabFurnish. The group was one of the pioneers in the online sales in India with futurebazar.com, which was probably even earlier than...

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Business

Future Enterprises buys majority stake in LivQuik

Future Enterprises Ltd. (FEL), part of the Future Group, has announced the acquisition of a majority 54.98 percent stake in fintech startup LivQuik. LivQuik, the company said, operates QuikWallet, an RBI- approved prepaid payment issuer and additionally provides payment gateway and enterprise fintech software development services. The...

Retail

FLF plans to add more Brand Factory, Central stores across India

Future Group is planning to launch around 200 Brand Factory stores in the coming years. Future Lifestyle Fashion (FLF) will open in airports across Goa, Lucknow, Bhubaneswar, Guwahati, Chennai and Chandigarh. The Goa store will be spread over 10,000 sq ft and others will be of 4000 sq ft. But the price of products will be the same as elsewhere....

Retail

Future Group in talks to buy Snapdeal’s logistics arm

India’s largest retailer, Future Group, is in talks to buy online retail platform Snapdeal’s logistics arm Vulcan Express for about Rs 50 crore in an all-cash deal. Vulcan Express, which manages about half of Snapdeal’s deliveries and shipments, replaced gojavas as the primary logistics partner when it was formed about three years ago. The...

Retail

Future Group unveils Retail 3.0

After several attempts at integrating the company’s digital and brick and mortar retail businesses, Future Group chairman and chief executive Kishore Biyani has unveiled Retail 3.0, a digital strategy aimed at making the group Asia’s largest leading integrated consumer company with a trillion dollars in revenue by 2047.It has revealed its latest...

Retail

Future Group, HUL scrap over margins post GST

Future Group has threatened not to give prominent shelf space and display to Hindustan Unilever brands if the consumer products leader fails to protect absolute retail margins after GST is introduced on July 1. Kishore Biyani, Chief Executive at Future Group that runs big supermarket chains says if margins are not restored in absolute terms,...

Retail

Future Group to promote handicrafts

Anandadhara has tied up with the Future Group to sell its products in Big Bazaar stores in a shop-in-shop format. Initially, some 30 Big Bazaar stores in Kolkata will house Anandadhara shops having exclusive Bengal products. Then it will be 65 other stores in the eastern region and then gradually will follow a spread nationally through these...

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Business

Kishore Biyani fortifies the importance of physical retail

Fortifying the importance of physical retail spaces, Future Group chief Kishore Biyani stated that consumers need retail spaces despite the prevalence of e-commerce. E-commerce is a place where one is buying a product and a brand says Kishore Biyani. In a recent interview with a newspaper, Biyani commented that, in the long term, it’s all about...