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Future Group to add smaller format stores in India
31
Aug '17
Future Group will open more Easyday stores across the country, and Heritage and Nilgiri stores in the south to increase the number of smaller format retail stores in smaller cities. Currently, the company has about 414 Easyday stores across the country, and 120 Heritage and 154 Nilgiri stores in the south. New stores will help it increase its brand presence.

“Big Bazaar is our flagship store with highest penetration, but for smaller towns the company is looking at opening smaller format retail stores,” C P Toshniwal, chief financial officer of Future Retail, told a news agency.

Toshniwal said Future Retail planned to open more Easyday stores across the country, and would also increase the number of Heritage and Nilgiri stores in the south. Big Bazaar, including Food Bazaar has about 287 stores across the country. There are about 414 Easyday stores across the country, and 120 Heritage and 154 Nilgiri stores in the south.

“Opening more stores will in turn increase our brand presence,” Toshniwal said. Presently, about 35 per cent of the company’s sales come from private label products. “The stated target of the group is to increase this in the next five years to about 65 per cent. Opening smaller format stores will increase penetration and help establish the brands further,” he said.

There were some supply disruptions following goods and services tax (GST) implementation. These were regularised in a few weeks, he said and added “Considering we are a large business, we manage a lot of our own merchandising and supply chain. Therefore, stocks for July and August were already brought into the stores without much hassle.” (SV)

Fibre2Fashion News Desk – India


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