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

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Stefano Gallucci (left), CEO, Santex Rimar Group, and Tamer Hasbay, President, Has Group; Courtesy: Santex Rimar

Textiles | On 24th Jan 2017

Santex Rimar to market all Has products globally

Italy based Santex Rimar Group has signed an agreement with Turkey...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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
January 2017

January 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