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Amazon, Future Group seal deal

Global internet retailer Amazon.com and India’s Future Group have sealed a strategic partnership to sell Future Group’s merchandise online. The partnership will initially focus on Future’s Group fashion brands and will subsequently cover all other categories. In a statement released Monday, the two companies said that once launched, customers on Amazon.in can expect the largest online stores of Future Group fashion brands Lee Cooper, Converse, Indigo Nation, Scullers or Jealous21, am…

Flipkart’s ‘Big Billion Day’: Flip or flop?

Monday was a big day for India’s Flipkart. Dubbed “Big Billion Day”, Flipkart aimed for record merchandise sales as part of a massive discount blitz not unlike the US’s Cyber Monday. But just how great a success was it? TechinAsia.com journalist Malavika Velayanikal wrote “as expected, by the end of the day, Flipkart co-founders Sachin Bansal and Binny Bansal declared it a roaring success”. “We have created history in Indian ecommerce… We got a billion hits on our site toda…

Clarks India to double network

A JV between British footwear retailer Clarks and Future Group plans major expansion in India. The partners will expand their footprint from 51 to 100 stores over the next two years. While 100 per cent Foreign Direct Investment is now permitted in single-brand retail in India, Clarks said it will continue its JV with Future Group, describing the partnership as its strongest worldwide. The JV expects revenue to hit £20 million ($33.4 million) this fiscal year. Meanwhile, another Brit…

Biyani buys denim label

Indian retail mogul Kishore Biyani is taking a 75 per cent stake in denim retail company Spykar Lifestyle. The new investment is part of a new strategy to move into fashion retailing after selling department store Pantaloons. Founded two decades ago, Spykar Lifestyle operates standalone stores and has a strong distribution presence across 1000 multi brand stores. It is the third denim brand to join Future Group, whose portfolio includes 35 fashion brands. Biyani will also take control o…

India’s Future Retail plans 35 new stores

Kishore Biyani-led company Future Retail is to open 35 new stores over the next 18 months. Future Retail, a unit of Future Group, currently operates 165 Big Bazaar stores. Future Retail says it is targeting revenue of Rs110 billion ($1.7 billion) this year and Rs130 billion ($2.1 billion) the following year. Biyani is focusing on his FMCG businesses and divesting stakes in ‘non-core’ businesses like AND and Biba.

Future Group plans virtual stores

Indian retail company Future Group is riding the digital wave to reach a broader consumer base. The Kishore Biyani-led company plans to launch virtual shopping kiosks as a solution to the scarcity of real estate space. One thousand virtual shopping kiosks are planned by March and 50,000 over the next few years. “It is a new concept, but I feel it will soon get acceptance,” said Biyani. It has already launched direct selling model called Big Bazaar Direct which allows consumers to order …

Celio raises ante in India

French menswear brand Celio’s proposal to fully own its India business has been approved. Celio plans to take 100 per cent control of its joint venture, Celio Future Fashions, with Future Group. It has already raised its stake in the JV from 50 per cent to 65 per cent and now plans to increase its store network. “Our aim is to expand this presence and make the brand more accessible to customers. Along with the major metropolitan cities, we aim to grow stores in second-tier cities as well,”…

Future Group to buy supermarket chain

India’s largest retailer by revenues, Future Group, is planning to acquire supermarket chain Nilgiris. The Kishore Biyani-led company is reportedly in negotiation with Nilgiris’ majority owner Actis Capital. The acquisition of Nilgiris, which operates 140 supermarkets in South India, will help Future Group to scale up its grocery chain KB Fair Price. Last year, Future Group also snapped up Express Retail, which operates supermarket chain Big Apple, for an undisclosed amount. Future G…

Clarks expands Indian footprint

British footwear retailer Clarks plans to open 15 new stores across India by January 2014. Clarks entered India in 2011 when it formed a joint venture with Kishore Biyani-led company Future Group. Already with a presence in major cities like Mumbai, Delhi and Gujarat, Clarks expects the additional stores will help double sales. “We sold nearly 260,000 pairs of footwear, and this year we are expecting to sell nearly 500,000 units by January 31, 2014, as we follow a February to January ca…

Biyani offloads investments

Kishore Biyani of Future Group is offloading his minority stake in womens ethnic brand Biba. Private equity firms CX Partners and Warburg Pincus are reportedly vying to acquire the 28.3 per cent stake. The deal could worth up to Rs350 crore (around $53 million) and would value Biba at Rs1200 crore ($200 million). Established in 1986 by Meena Bindra, Biba now has 87 standalone stores across India and plans to expand to 150 by the end of the year. “The company has ambitions of going gl…

Future Lifestyle to open Umbro stores

Fashion company signs pact with Iconix India.

Future Group expands convenience chain

Kishore Biyani-led company targets 1000 convenience stores by 2015.