Future Group
 | |
| Company type | Private |
|---|---|
| Industry | Conglomerate |
| Founded | 2013 |
| Founder | Kishore Biyani |
| Headquarters | Mumbai, Maharashtra, India |
| Products | |
Number of employees | 50,000 |
| Divisions |
|
| Website | www |
Future Group is an Indian conglomerate, founded by Kishore Biyani[1] and headquartered in Mumbai, Maharashtra, India. The company is known for having a significant prominence in Indian retail and fashion sectors, with popular supermarket chains like Big Bazaar and Food Bazaar, lifestyle stores like Brand Factory, Central, etc. The group also has a notable presence in integrated foods and FMCG manufacturing sectors. Future Retail Limited and Future Lifestyle Fashions Limited, two operating companies of Future Group, are among the top retail companies listed in BSE with respect to assets,[2] and in National Stock Exchange of India to market capitalisation.[3]
Future Group is a corporate group and nearly all of its businesses are managed through its various operating companies based on the target sectors.[Primary 1] For example, retail supermarket/hypermarket chains Big Bazaar, FBB, Food Bazaar, Food Hall, Hometown, etc. are operated by its retail division, Future Retail Limited,[4] while its fashion and clothing outlets Brand Factory, Central, and Planet Sports are operated via another of its subsidiaries, Future Lifestyle Fashions Limited.[5] Furniture is retailed through HomeTown stores in major cities and online. With these many fashion outlets and supermarkets, the group also promotes its fashion and sports brands like Indigo Nation, Spalding, Lombard, Bare, etc., and FMCGs like Tasty Treat, Fresh & Pure, Clean Mate, Ektaa, Premium Harvest, Sach, etc.[Primary 1] It also has operating companies to cater specifically to internal financial matters and consulting within its group of companies.[6]
History
In May 2012, Future Group announced a 50.1% stake sale of its fashion chain Pantaloons to Aditya Birla Group in order to reduce its debt of around ₹8,000 crore (equivalent to ₹150 billion or US$1.8 billion in 2023).[7][8] To do so, Pantaloons fashion segment was demerged from Pantaloons Retail India Ltd; the latter was then merged into another subsidiary—Future Value Retail Ltd—and renamed to Future Retail Ltd.[9]
On 21 November 2014, Future Consumer Enterprises Limited acquired the 98% from Actis Capital and other promoters. With that, Nilgiris is a fully owned subsidiary of Future Consumer Enterprises Limited (FCEL). Future Retail Ltd. is listed on [1] in S&P BSE 200. It Belongs to A group company (To check latest share price click here)
On 29 August 2020, it was announced that Reliance Retail had reached an agreement with Future Group to acquire its retail and wholesale business, and also its logistics and warehousing businesses for $3.4 billion.[10] This takeover was approved by CCI,NSE,BSE and SEBI.
Subsequently the merger between Reliance Retail and Future group was halted on October 26 2020, after Amazon filed a plea in the high court for enforcement of EA awarded by Singapore International Arbitration Center on October 25 2020. On August 06 2021 the Supreme court decided the case in favour of Amazon and considered the EA award valid and enforceable.[10]
FabFurnish
FabFurnish was launched an online retailer of furniture, décor and home appliances in March, 2012 by Vikram Chopra,[11] Mehul Agrawal and Vaibhav Aggarwal.[12] The company was headquartered in Gurgaon, NCR.
Vaibhav Aggarwal quit the company in early 2014. In July 2015, the brand declared strategic restructuring of its top management by introducing Ashish Garg and Ankita Dabas as the new co-founders. In April 2016, FabFurnish became a Future Group company and is part of the Group's long term growth plan.[13][14] On April 13 2017 Times of India reported that Future group were likely to close FabFurnish.[15]
Marketing
FabFurnish released its first television commercial with the tagline ‘Home of Fimagination’ in January 2014.[16] In October 2015, the brand released its digital campaign ‘Mrs India ka Ghar’ followed by a series of visual stories and videos by the end of year on the theme ‘Heart is Home’. As a part of this campaign, the website featured homes of well-known people from different walks of life. Also, film actor Kalki Koechlin[17] curated her favourite looks for the brand which was released in the form of stills as well as video in March 2016.
Awards
- Indian Home Congress & Awards declared FabFurnish.com as the ‘ E-Retailer in India' in home category in the year 2012.[18]
- In 2014, FabFurnish.com was awarded 'Home & Lifestyle eRetailer of the Year, 2014' at the Indian eRetail Awards.[19]
Future Group's operating companies sorted by targeted markets
Retail
- Future Retail Ltd[20]
- Future Lifestyle Fashion Ltd
- Future Consumer Limited[Primary 2]
- Future Enterprises Limited
- Swathi Tiffin Shop
- Foodhall
Financial services
- Future Capital Holdings (for internal financial services)
- Future Generali Life Insurance
- Future Generali General Insurance
- Future Ventures
Other services
- Future Innoversity
- Future Supply Chains
- Future Brands
Future Retail Ltd.
- HomeTown, furniture retailer[21]
- Koryo (Private Label)
- Food Bazaar
- Fashion at Big Bazaar (FBB)
- Aadhaar Wholesale
- E Zone
- Foodhall
- Easyday
- Big Bazaar[22]
- Nilgiris 1905
- Heritage Fresh[23]
- HyperCity
Future Lifestyle Fashion Ltd
- Central
- Brand Factory
- Planet Sports
- I AM in
Fashion and lifestyle (Brands)
- Indigo Nation
- Scullers
- John Millers
- All
- Rig
- Coverstory
- SPUNK
- DJ&C
- Buffalo
- Hey
- Bare
- Clarks
- Holii
- UMM
- Urban Yoga
- Jealous 21
Integrated foods and FMCG (Brands) [Primary 2]
- NILGIRIS
- Tasty Treat
- Fresh & Pure
- Ektaa
- Premium Harvest
- Mera Swad
- Pratha
- Punya
- Sach
- Kosh
- Sunkist
- Kara
- TS
- Clean mate
- Care mate
- Swiss tempelle
- Baker street
- Golden Harvest
- Prim
- Desi Atta Company
- Sangi's Kitchen
- Voom
- Dreamery
- Sensible Portions
- MYSST
- Puretta
- Veg Affaire
- Terra
- Mother Earth
- Karmiq
Joint venture partnerships
Amazon-Future Retail
[Amazon-Future Retail] Biyani company valued at ₹43,000 crore: Amazon gets coupons to invest in Future Retail. ... MUMBAI: Amazon has agreed to acquire an indirect minority stake in Future Retail, the operator of Big Bazaar and EasyDay chains, ahead of an option to buy all or part of the promoters' holding in the company after three years. Rajan Malhotra the President – Retail Strategy at Future Group resigned in Nov 2019..
Generali Group
Generali is an Italian insurance company, having business in India through a joint venture with Future Group under the brand name Future Generali Insurance. Future Generali operates in India having through two primary legal entities namely Generali India Life Insurance Co. Ltd. (Life Insurance) and Generali India Insurance Co. Ltd. (Non-Life Insurance).[Primary 3] Since 2013, Future Generali held talks of a possible merger with Larsen & Toubro Ltd. to form a general insurance company but a year later, on 22 April, Future Group backed out of merger leading to premature closure of the talks.[24]
Staples Inc
Staples Inc., a United States-based office supply retailer, has a presence of over nine cities in India under the joint venture with Future Group.[Primary 4][25] As of April 2013, Future Group has 60% stake in the partnership.[26]
Skechers
Skechers entered India through a JV with Future Group in 2012. Skechers ends joint venture with Future group in February 2019 by buying 49% stakes.[27]
Celio
French fashion Celio entered Indian markets in 2008 through a 50:50 joint venture with Future Group's then retail hand, Pantaloons Retail India Ltd (now Future Retail Ltd).[28] In November 2013, Celio hiked its stake in the joint venture to 65%.[29]
Clark
C&J Clark International Ltd. is a UK-based footwear and accessories retailer. The Future Group has entered into a 50:50 joint venture (JV) to form 'Clarks Future Footwear Ltd'. The JV launched its first (1,600 sq ft.) stand-alone store in Connaught Place, Delhi on 19 April 2011. The brand seeks to gain a share of the premium segment in this category. [30]
Reliance Retail acquisition
On 29 August 2020, it was announced that Reliance Retail had reached an agreement with Future Group to acquire its retail and wholesale business, and also its logistics and warehousing businesses for $3.4 billion.[10] Reliance Retail extends deadline to complete Rs 24,713 crore deal with Future Group.[31]
See also
References
- ^ Prime, E. T. "Kishore Biyani's Hamletian muddle: Will the Future Group founder walk his talk?". ET Prime. Retrieved 6 July 2020.
- ^ "Top Companies in BSE Retail segment by Total assets". Moneycontrol.com. Retrieved 25 July 2014.
- ^ "Top Companies in NSE Retail segment by market cap". Moneycontrol.com. Retrieved 25 July 2014.
- ^ Future Retail Chains
- ^ Future Fashion Chains
- ^ BSE (10 July 2014). "Future Group Companies". Profit.ndtv.com. Retrieved 25 July 2014.
- ^ Our Bureau (30 April 2012). "Aditya Birla Novo to take control of Pantaloon's apparel business". Thehindubusinessline.com. Retrieved 25 July 2014.
- ^ Suman Layak (27 May 2012). "Friendly Takeover". Business Today. Retrieved 25 July 2014.
- ^ "Future Value to be merged with Pantaloon Retail to cut operating cost". India Times. 10 September 2012. Retrieved 25 July 2014.
- ^ a b c "India's Reliance Retail to acquire Future Group's retail, wholesale, and logistics businesses for $3.4 billion". TechCrunch. Retrieved 29 August 2020. Cite error: The named reference ":0" was defined multiple times with different content (see the help page).
- ^ Franchise, India. "Indian Retail Congress, Awards".
- ^ Ambition, Box. "Discover Companies | AmbitionBox". FabFurnish.com.
- ^ Inc42, Media (5 May 2016). "Future Group Announces Relaunch Of FabFurnish; Plans To Merge With HomeTown".
{{cite news}}: CS1 maint: numeric names: authors list (link) - ^ "Kishore Biyani's Future Group to buy FabFurnish.com". Mint (newspaper). 6 April 2016.
- ^ Future group likely to shutter furniture e-tailer FabFurnish
- ^ BestMedia, Info (22 January 2014). "FabFurnish.com launches its first-ever TVC | Best Media Info, News and Analysis on Indian Advertising, Marketing and Media Industry".
- ^ Elle, India. "Kalki Koechlin turns decorator for FabFurnish".
- ^ afaqs (8 October 2012). "FabFurnish.com awarded 'The Best Home E-Retailer in India' award by The Indian Home Congress".
- ^ India Infoline, News Service (2 May 2014). "FabFurnish.com awarded as the "Home & Lifestyle eRetailer of the Year" at Indian eRetail Awards 2014".
- ^ "Future Group to steer Heritage's retail business". The Hindu. 8 November 2016. Retrieved 19 August 2020.
- ^ Fanzart partners with Future Group's HomeTown Stores
- ^ Reporter, Corporate. "Big Bazaar to invest Rs. 600 crore on expansion". The Hindu. Retrieved 26 February 2017.
- ^ pilla, vishwanath. "Future Retail buys Heritage Foods's retail business". Live Mint. Retrieved 7 November 2016.
- ^ Shilpy Sinha; Arijit Barman (22 April 2014). "Kishore Biyani to pull out of general insurance merger talks with L&T for Future Generali". Economic Times. Retrieved 25 July 2014.
- ^ "Staples Future Overview". Staplesfuture.com. Retrieved 25 July 2014.
- ^ Sagar Malviya (4 April 2013). "Future Group, CEOs JV buy majority stake in Staples". Economic Times. Retrieved 25 July 2014.
- ^ "Skechers buys Future Group's 49% in joint venture for independent run". The Economic Times. 13 February 2019. Retrieved 23 January 2020.
- ^ Rasul Bailay (17 April 2008). "Pantaloon in JV with menswear firm Celio". Livemint.com. Retrieved 25 July 2014.
- ^ Raghavendra Kamath (25 November 2013). "Celio hikes stake in Future Group JV to 65%". Business Standard News. Retrieved 25 July 2014.
- ^ "Print Article". livemint. 20 April 2011. Archived from the original on 4 September 2012. Retrieved 20 June 2011.
- ^ "Reliance Retail extends deadline to complete Rs 24,713 crore deal with Future Group". Inventiva. Retrieved 17 July 2021.
Primary sources
- ^ a b c Future Group Businesses as mentioned in its official website
- ^ a b "Future Consumer Limited". futureconsumer.in. Retrieved 23 January 2020.
- ^ Future Generali Website
- ^ "Future group press release announcing JV with Staples Inc". Futuregroup.in. 18 January 2007. Archived from the original on 11 August 2014. Retrieved 25 July 2014.
