Future Group sees Rs 1,000 cr revenue from sports biz: Biyani
Seeking to cash in on India's growing presence in the sports arena globally, Kishore Biyani-promoted Future Group has sensed a new retail opportunity and is looking at garnering Rs 1,000 crore revenue from the segment within four years.business Updated: Sep 28, 2009 13:15 IST
Seeking to cash in on India's growing presence in the sports arena globally, Kishore Biyani-promoted Future Group has sensed a new retail opportunity and is looking at garnering Rs 1,000 crore revenue from the segment within four years.
Future Group's sharpening focus on retail of sports gear is part of the company's strategy to become a Rs 25,000-conglomerate within 3-4 years.
"We are looking at building up a big sports business. We believe the category of sports alone could be a Rs 1,000-crore business in the next 3-4 years," Future Group Chief Executive Officer Kishore Biyani told PTI.
He said the group is currently acting as the Indian distribution and marketing partner for a number of foreign brands, including Speedo, Wilson and Converse.
"We are into a lot of interesting sports. We represent lot of brands in the country like Speedo and Converse. Sports are one category where we are working more," Biyani said.
He, however, did not share details of the sports segment's current contribution to the group's total turnover.
Future Group has a wholly-owned sports subsidiary --Planet Sports -- which has 63 speciality multi-brand sports lifestyle outlets in 40 cities and is expanding the business.
"We are opening up large stores. We opened a large store in Mumbai this month measuring 10,000 sq ft and now we are looking at even larger stores, may be of 20,000-25,000 sq ft," Biyani said.