Future Lifestyle to be Rs. 4,000 cr entity in 1st year
Retail chain giant Future Group, which recently demerged its fashion business under a new brand, is expecting around Rs. 4,000 crore in the first year of operations.business Updated: Nov 22, 2012 22:54 IST
Retail chain giant Future Group, which recently demerged its fashion business under a new brand, is expecting around Rs. 4,000 crore in the first year of operations.
“We are expecting nearly Rs. 4,000 crore from our fashionbusiness in the next one year,” Future Group CEO Kishore Biyani said on Wednesday.
The country’s largest retailer recently demerged its fashion business and set up a new company, Future Lifestyle Fashion, which will be listed soon.
“We have brought all our fashion businesses built over two decades into a single entity. This company will begin its journey as the leader and trend-setter in the sector and we plan to give a fresh fillip to brand building, retailing and distribution in the fashion space,” Biyani said.
Future Lifestyle will have businesses spanning departmental and speciality retailchains, a portfolio of over two dozens fashion and lifestylebrands, investments in fast-growing domestic labels and sourcing and distribution network inmore than 112 towns.