Future Group will be among top 10 fashion firms by FY19:Biyani

Published On: 06, Dec 2017 | Source: business-standard.com

Retail conglomerate Future Group, which owns fashion chains like Big Bazaar, Brand Factory and Central, will be among the top 10 global fashion selling about 35 crore garments by FY2019, group CEO said today.

The company, which has built an integrated warehouse with a capacity of over 300 million garments in Nagpur, is betting big on the growing demand from fashion-conscious customers and consumers' interest for lifestyle and fashion.

Biyani said by next financial year the fashion units alone will clock total revenue of $3-3.5 billion (about Rs 20,000 crore). He, however, denied commenting on expected profit.

"We will be among the top 10 fashion in the world by FY19 manufacturing about 350 million garments and the notable factor is that the operations are only in India, while others have global presence," Biyani told PTI in an interview.

The company sells other brands along with its own such as John Millers, DJ&C, Converse, Clarks, Urban Yoga, Bare, and Scullers, among others.

Its portfolio covers fashion categories including formal menswear, casual wear, active or sportswear, ethnic wear, denim wear, footwear and accessories for men and women.

While many of the brands have been developed by the group over a decade, the company also has exclusive licensees and joint ventures with global brands.

Without specifying any name, Biyani said the largest player in the world has a capacity of about 1200 million garments per year and the would be at 350 million

"The company will be looking at a revenue of  $3-3.5 billion from the fashion segment, once we roll out in full capacity," he added.

The top 10 global fashion retailers include Zara, H&M, Nike, Massimo Dutti, and Oysho, among others.

The group's fashion outlets, including Fashion at (FBB), are run by two operating listed -- and Ltd.

had reported a standalone net profit of Rs 153.16 crore for the second quarter ended September 2017. reported a consolidated net profit at Rs 30.28 crore during the same quarter.

The retail chain last month unveiled a 30-year vision, Retail 3.0, by when it plans to become Asia's largest integrated consumer retailer by 2047 with revenue of in excess of  $1 trillion.