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Biyani holds an optimistic decision about the Future Group

The Future group CEO, Kishore Biyani earlier was not in the favour of online retail because he believed that physical retail is a threat to e-commerce. But after the biggest e-commerce deal between Walmart and Flipkart where 77 per cent stake has been acquired by Walmart for 16 billion US Dollar. Biyani just after this deal said, “A minority stake in Future Group will be sold to a strong global…
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Apparel and Textile News

Future Lifestyle Q1 net profit jumps by 33%

The fashion and lifestyle arm of Future Group, Future Lifestyle has announced a rise of 33 per cent in net profit to Rs 24 crore for the first quarter of the current fiscal year compared to the same quarter last year net profit of Rs 18 crore. “The revenue for the April-June months increased 29 per cent to Rs 1,031 crore, thanks to robust same stores sales of around 30…
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Apparel and Textile News

Brand Factory To Open Around 250 Stores In 5 Years

Fashion discount retail chain Brand Factory, which is a part of Kishore Biyani promoted Future Lifestyle Fashion, plans to open around 250 stores in next five years. “Initially we planned to be 100 stores by 2020, but back on the response we received from our recently concluded ‘50 per cent Anything & Everything’ sale last week, we have revised our plan and targeting to be 200-250 stores by 2022. The…
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Apparel and Textile News

Expansion of fashion retail format by Future Group

Future Group plans to open 80 new stores for its affordable fashion format FBB this fiscal to grow the store count which at present is 300, its CEO Kishore Biyani said. Biyani said the retailer plans to sell 23 crore units of garments by next year March and expects it to grow to 80 crore units by 2021. "Next fiscal, we are targeting Rs 10,000 crore sales from fashion and…
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Apparel and Textile News

Future Lifestyle Fashion Q3 net profit falls to Rs 15.94 crore

Future Lifestyle Fashion Ltd (FLFL) part of Future Group, today reported a per cent fall in net profit at Rs crore for the third quarter ended December, due to higher expenses. Its total income from operations during October-December period was up per cent to Rs 1, crore as against Rs crore in the corresponding period of last fiscal, Future Lifestyle said in a BSE filing. The company had posted a…
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Apparel and Textile News

Central & SBI Card Launch Premium Co-Branded Card

The State Bank of India (SBI) and Future Group have launched a co-branded credit card, jointly for the lifestyle departmental store Central. The card will offer benefits to premium lifestyle and fashion consumers. Since demonetization, card transactions have gone up from 61 per cent to 85 per cent at Central. “Future Group is looking to much more growth. The Group is targeting a revenue of ,500 crores for 2017-18 and…
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