Indian retail conglomerate Future Group will be among the top 10 global fashion companies selling about 35 crore garments by fiscal 2018-19, according to group CEO Kishore Biyani, who said the fashion units alone will bring in a revenue of $3-3.5 billion by the next fiscal. Its operations are only in India, while other companies have global presence, he said.
The largest player in the world has a capacity of about 120 crore garments per year and the Future Group would be at 35 crore, Biyani told a news agency recently.
Nike, Zara, Massimo Dutti, Pull & Bear, H&M and Oysho are among the top 10 global fashion retailers.
The Future Group's fashion outlets, including Fashion at Big Bazaar (FBB), are run by two companies, Future Retail and Future Lifestyle Fashions Ltd. The company, which owns fashion chains like Big Bazaar, Brand Factory and Central, has constructed an integrated warehouse in Nagpur with a capacity of over 30 crore garments.
It sells other brands along with its own and its portfolio covers formal menswear, casual wear, active or sportswear, ethnic wear, denim wear, footwear and accessories for men and women. The group has developed many of the brands over a decade and also has exclusive licensees and joint ventures with global brands.
The group recently unveiled a 30-year vision, Retail 3.0, planning to become Asia's largest integrated consumer retailer by 2047 with a revenue exceeding $1 trillion. (DS)
Fibre2Fashion News Desk – India