Vishal Retails is soon to follow the footsteps of Kishore Biyani's Future venture. The company is soon to set up a private equity fund.
This equity fund will buy minority stakes in consumer product companies that will sell their goods through Vishal stores.
The main objective is to sell a variety of brands through Vishal Retail and acquire a share in their profits. Besides, the decision to set up a private equity fund also goes hand in hand with the company's policy to promote private brands.
In an exclusive interview with Fibre2fashion Mr Manmohan Agarwal, CEO, Corporate Affairs of Vishal Retails confirmed the company's decision but refrained from mentioning the brand names saying, “We are into private labels and in house brands. We do not keep external brands in our stores”.
In addition the company has plans to foray into cash-&-carry business in about a year. Of the many strategies taken into consideration, speciality formats like convenience, apparel, restaurants, consumer durables, IT, footwear, lifestyle and home will be given the foremost preference. All the formats will be categorized into separate divisions and will be run by different CEOs.
Mr Manmohan also stated that the company would venture for Real Estate Company, destination store and production houses.
Presently, the company operates over 70 hypermarkets called Vishal Mega Mart and another 20 Fashion Marts. Operational retail space accounts for 20 lakh square feet while the company has engaged an additional 12 lakh square feet to be utilized in about a year's time.
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