Future Style Lab aims to strengthen footprint by adding 70 stores

Future Style Lab is eyeing to add about 70 stores in the next three years by investing Rs 50-60 crore. The Kishore Biyani-backed company is operating the Cover Story and Ancestry brands.

The company is planning to expand in Jaipur, Chandigarh and Ahmedabad. However, its fashion brands are presently positioned as metro and top city products.

Ancestry, the newer ethnic Indian fashion brand, was launched a year ago. Currently, it has 7 stores.

Future Style Lab, a subsidiary of the Future Group, will add 40 stores under the Ancestry brand in the next three years, while remaining 30 will be under the Cover Story brand.

Kishore Biyani is a majority shareholder in Future Style Lab, which was established in 2016.

Manjula Tiwari, Chief Executive of Future Style Lab, said, “We are a small, agile and less-bureaucratic company. We are expecting to meet our revenue target of Rs 140 crore this year, between our two brands.”

“However, the main challenge in retail India is finding the right real estate. We are choosy and want our stores to become profitable as soon as possible and don’t just go for any mall space,” she added.