Future Retail to open 35 Big Bazar stores
BY - Vaishnavi Gupta
Senior Correspondent, IndianRetailer.com & Retailer Magazine Jan 07, 2014 / 1 MIN READ
Senior Correspondent, IndianRetailer.com & Retailer Magazine Jan 07, 2014 / 1 MIN READ
Future Retail Limited aims to clock Rs 13,000 crore turnover in the next financial year. To achieve the same, the company plans to add 35 new Big Bazar stores across the country over the next 18 months.
Speaking on the same, company's Managing Director & Chairman, Kishore Biyani, said, "We are expecting a revenue growth of around 10 per cent in the current financial year (2013-14), touching Rs 11,000 crore. This will be Rs 13,000 crore in the next financial year."
Presently, Future Group has 165 Big Bazaar stores with a total retail space of over nine million sq ft. The company also owns 300 stores in different formats across the country, with a total retail area of 11 million sq ft.
Also Worth Reading
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.
Explore By Industry
Copyright © 2009 - 2024 Franchise India Holdings Ltd