Future group promoter mulls buying stakes in footwear and handbag brands.
Kishore Biyani-promoted Future Group is all set to stir up the beverage scene as it looks to introduce an international brand in India through the brand licensing route.
“This will mark our entry into the FMCG business in a big way... We would like to get into the league of the big aerated companies of the world,” said Biyani. He, however, refused to get into specifics.
Biyani, of late, has been working on a target of Rs 10,000 crore turnover from Future Consumer Enterprise, the group’s food and retail business, in the next five years. And getting into the beverage category will just take it a step closer to the goal, he said.
The group has also made private label brands a priority and started distributing its brand to other kirana stores as well. In Biyani’s scheme of things, other company-owned brands can ride the same distribution network as the beverage and will thus have a wider presence across retail networks soon.
Other than food, the company is betting big on fashion and plans to add a total of one and a half million square feet of retail presence in coming days. Biyani believes that by the end of the next year December, its Fashion Big Bazaar will be able to achieve a turnover of Rs 3,000 crore, but pegs it at Rs 4,000 crore for Future Lifestyle Fashion.
In the fashion space, the company has already divested its stake in AND and Biba and cut stake in Celio. Future Group, on the other hand, is looking at picking up a minority stake in 5-6 brands.
It’s also weighing footwear and hand bag brands apart from apparel.
Going ahead, the company may soon offload stake in Capital Foods. Biyani currently has over 40% stake in the company, with brands such as Smith & Jones and Ching’s Secret under its portfolio.
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