Future group’s FBB will open 80 new stores this year in addition to its present 300 stores with the average size being 12,000 to 15,000 square feet. Currently around 70 per cent of FBB’s stores are located on high streets and the remaining 30 per cent in malls. FBB is an affordable fashion format belonging to the Future Group.
FBB will reduce prices by three to five per cent every year as the retailer gains scale in operations and backend. Around 40 per cent of the group’s revenue is driven by fashion. FBB is also planning to lower its entry price points across categories by four to five per cent. Most of its products are already priced below Rs 1,000 with the cheapest.
Children’s wear currently accounts for around 20 to 22 per cent of FBB’s business (55 per cent girls, 45 per cent boys). Women’s wear contributes around 35 to 40 per cent and the rest comes from men’s wear. FBB wants to establish children’s wear at a price point which is probably half or one-third of what a national brand would offer.
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