Senior Correspondent, IndianRetailer.com & Retailer Magazine Mar 14, 2018 / 2 MIN READ
Kishore Biyani-led Future Retail is planning to joint venture with Oman-based Khimji Ramdas LLC for taking its 'FBB' brand fashion outlets to Oman and other GCC countries.
Future Retail has entered into a shareholders agreement with Khimji Ramdas LLC for formation of the JV company, the company said in the regulatory filing.
It said the 50-50 JV will operate "fbb" brand fashion outlets in Oman and across other member states of GCC.
The joint venture company is proposed to be incorporated in Oman in which each party to the agreement shall subscribe 50% of share capital.
As per the proposal, each party would have the right to appoint three directors on board of JV company.
Future Retail stocks closed 1.93% up at Rs.508.90 on BSE today.
Unveiling India's Retail Revolution: Tech Disruptions, Consumer Shifts, and the Future of E-CommerceGiven this divergence, industry projections indicate Tier II and III cities will continue dramatically outpacing their Tier I counterparts in online order growth rates over the next decade.
During Mumbai Tech Week, Chandok also emphasized that those who do not embrace AI, risk falling behind in the rapidly evolving technological landscape.
In the dynamic arena of retail, departmental stores stand tall as monuments of progress, convenience, and diverse offerings.
But the winds began to shift in the mid-2010s. Mounting debt, fueled by ambitious expansion plans and a competitive landscape increasingly dominated by e-commerce players like Amazon and Flipkart, put immense pressure on Future Retail.
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