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Future Retail will Open new Big Bazaar outlets, Invest 200 Cr

10Mar By AdityaNo Comments

BUSINESS

Future Retail will Open new Big Bazaar outlets, Invest 200 Cr

Future Retail would spend Rs 150-200 crore a year for expansion of Big Bazaar stores in the eastern region, a company official said. The company would open around 25 such stores from April this year in eastern India, the official said. "We have a pipeline of around 25 Big Bazaar stores in the eastern region. Each store requires an investment of around Rs 2,000 per square feet for interiors only," CEO of eastern region of Future Retail Manish Agarwal told Pixr8 News. Agarwal said the eastern region contributed 25 per cent of the national sales, adding that West Bengal accounted for 30 per cent of the revenues from the east. https://pixr8.com/business/future-group-to-open-10000-small-stores-aims-revenue-jump-to-rs-60-cr/ The company would open 7-8 stores in Kolkata and its ...

Future Group to Open 10,000 Small Stores, Aims Revenue Jump to Rs. 60 Cr

India's leading retail firm, Future Group has announced to open about 10,000 small stores as a part of its strategy to grow revenue from smaller format stores, its founder Kishore Biyani said in a statement. The company is aiming to grow revenue than ten times, to Rs 60,000 crore, from about Rs 5,000 crore at present, though the time frame for the target has not been mentioned by the firm. The mega 10,000 store target is 10 times the small outlets that Future Group runs. With an annual turnover of Rs.30,000 crore, Future Group has 1,700 stores including a combination of large and small outlets. Interestingly, the retailer is also working parallelly on its "Niligiris" outlets, a facility which will enable consumers to scan barcodes of products using mobile application following del...

Future Group Denies Selling 10% Stakes Amidst Market Rumours

Indian market bolted a notch higher when a speculated news regarding World's biggest brick and mortar, Future Group selling its 10 stakes to a leading global retailer surfaced in mid-afternoon today. Meanwhile, within stock market to the company witnessed a gain of 5 percent. The scrip which was at 12 percent at 10:02 am rose by 6.60 percent to Rs. 60.60 on the BSE. The speculation came amidst a clarification sought by stock exchanges into a news report that quoted Future Group founder Kishore Biyani saying, "he will sell a minority stake to the strongest global retailer” in the retail giant." However, in the new clarifications, Future Group companies have stated that there is no decision taken in the regard. The ongoing rumours have come in the wake of Flipkart-Walmart deal which...