Senior Correspondent, IndianRetailer.com & Retailer Magazine Jul 04, 2011 / 2 MIN READ
The country's leading retailer, Pantaloon Retail, will sell its stake in the financial services arm Future Capital Holdings. Pantaloon has hired investment bank Morgan Stanley to find a buyer for its 54% equity in Future Capital Holdings (FCH). FCH is a non-banking finance company with assets worth Rs 3,000 crore, comprising retail, wholesale and mortgage loans.
Recent developments has put Pantaloon in a better position to divest its holding in FCH.
Kishore Biyani, managing director of Pantaloon Retail (India) Limited and CEO of Future Group, said Pantaloon has always been looking at some divestment and strategic partnership. He however ruled out a complete stake sale.
FCH exited a JV, merged its subsidiary Future Capital Financial Services with itself and roped in professionals from Citi, Merrill and Morgan Stanley to head businesses such as retail, wholesale and corporate.
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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