Future Group launches youth store brand ‘I am In’

A year after selling off its Pantaloon fashion division to

Aditya Birla Nuvo for Rs 1,600 crores, Kishore Biyani is back in the fashion business. The Future Group is set to re-enter the fashion space with an altogether new store brand ‘I am In’.

As was the case of Pantaloon, these stores will be owned by the Future Group, but will be much smaller in size. While Pantaloon stores are typically anywhere between 20,000 and 25,000 square feet, the I Am In stores will vary between 5,000 and 6,000 square feet.

Pantaloon was essentially a family brand, I Am In will be a brand positioned for the youth and will not stock any ethnic wear. Instead, they will sell mainly casual western clothes for both men and women. And at a later stage, may also house the Biyani group’s recently-launched Lombard brand for high-end fashion formal menswear. The first three stores will be rolled out over the next month in Bangalore, Nagpur and Thane in various malls.

Recently, Future Retail (FRL) — earlier Pantaloon Retail — along with Future Ventures India (FVIL) de-merged the fashion and apparel business into Future Lifestyle and Fashion (FLFL). Shareholders of FRL got one share of FLFL for every three shares they held in FRL. The de-merger results in three firms — FRL, which is now in hypermarket play since it houses Big Bazaar, Home Town and Food Bazaar or essentially the value retail piece; FLFL, which houses the fashion business comprising Central and Brand Factory stores along with Indus League, BIBA and other brands; and FVIL, which will own the food and FMCG brands like Tasty Treat and Cleanmate. The de-merged Future Retail had a turnover of Rs 10,500 crores with an EBITDA margin of 8 percent.