Home / Knowledge / News / Apparel/Garments / Future Group, Bharti to merge retail business
Future Group, Bharti to merge retail business
04
May '15
Kishore Biyani (left) and Rajan Bharti Mittal
Kishore Biyani (left) and Rajan Bharti Mittal
A massive retail entity will now mark its presence in the country’s economy with the Kishore Biyani owned Future Retail and Bharti group's Bharti Retail deciding to merge with each other .

The merger will happen in two ways. The retail business of Future Retail will be demerged into Bharti Retail and the retail infrastructure business of Bharti will be demerged into Future Retail, according to a statement by Future Retail.

The first entity, to be known as Future Retail Limited post the demerger, will host the retail operations of both the entities. The second entity, to be known as Future Enterprises post he demerger will host the infrastructure, investments and assets of both the companies.

Kishore Biyani, Founder and Group CEO, Future Group said, “Bharti Retail’s strengths and network compliment perfectly with that of Future Retail. It will bring us closer to millions of consumers and provide new opportunities for our supply partners. The operational efficiencies that can be derived from the merger will create significant value for our shareholders.”

The Future group has three main entities, Future Retail that runs hypermarkets and supermarkets, Future Lifestyle Fashions, and Future Consumer Enterprise. Bharti Retail runs 15 Easyday hypermarkets and 200 supermarkets.

The combined entity will have 570 retail stores in 243 cities with operational retail space of over 18.5 million square feet. It will operate 203 Big Bazar and ‘easyday’ hypermarkets , 197 Food Bazar and ‘easyday’ supermarkets and 171 other stores comprising Home Town, eZone, FBB and Foodhall.

Rajan Bharti Mittal, vice chairman, Bharti Enterprises said, “We are delighted to announce this partnership, which brings together the strengths of the two companies and provides a strong platform for future growth. Retail is emerging as the next big growth engine for India and we will be well positioned to be a major player in this growth story.” (SH)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search