The court of Chief Justice of Delhi High Court will today hear appeals filed by Future Retail and its promoters against a decision by a single judge bench yesterday that refused to issue directions to a Singapore arbitration panel. Yesterday, a Delhi High Court bench comprising Justice Amit Bansal had refused to accept arguments by […]
Future Retail, the pioneering modern retail chain founded by Kishore Biyani, today said it will take steps to implement its agreement with Reliance Retail as it is not a party to the agreement quoted by global retailer Amazon to block its merger with Reliance Retail. The agreement is with one of its promoters and group […]
Kishore Biyani owned Future Group announced that US-based private equity firm Blackstone will take a 6% stake in its fashion/garments unit, Future Lifestyle Fashions, by investing ₹1,750cr ($250 mln) into Ryka Commercial Ventures Pvt Ltd, the holding company of FLFL, and directly into FLFL. Blackstone joins other groups such as L Catterton, Premji Invest and […]
Future Supply Chain Solutions, part of the group that operates Big Bazaar, said it signed a multi-year agreement with fashion brand Benetton India to provide contract and express logistics services. Future Supply Chain will manage Benetton India’s supply chain requirements from a large built‐to‐suit, multi‐customer distribution centre in North India. “We have been entrusted to […]
Future Supply Chain Solutions Limited, the logistics arm of the biggest large-format retail chain in the country, continued to report strong growth on the top line and improving profits, but expenses too largely kept pace. The company’s revenue from operations grew by 34.4% on year to Rs 276.2 cr for the September quarter, an increase […]
Italian insurer Generali Group said it will increase its stake in Future Generali, its insurance joint venture with Future Group of India, to 49% from 25.5% at present at a cost of 120 mln euros (Rs 960 cr). Future Group is a pioneer in the organized retail market in India and is by far the […]
L Catterton Asia, the Asian unit of the consumer‐focused private equity firm, will take a stake of around 10% in Future Lifestyle Fashions Ltd, the company that operates the Brand Factory and Central fashion stores in India. The valuation or the amount invested was not revealed. However, Future Lifestyle Fashions has an equity market value […]
Kishore Biyani, head of Future Group, outlined mega expansion plans for his retailing business for the next 12-15 months in the context of the entry of WalMart into India’s retailing sector. “Our plan is to add 1,000 small stores over the next 12-15 months,” Biyani told CNBC-TV18 in an interview. “Our plan is to open […]
Companies belonging to the Future Group, which runs India’s largest super market chain Big Bazaar, said they have not taken any decision on selling a minority stake to any global retailer. Their comments came in response to a clarification sought by the stock exchanges into a news report that quoted Future Group founder Kishore Biyani […]
Future Retail will pay most of the cost of its proposed Hypercity acquisition by issuing new shares, and only about a fourth will be paid in cash. The deal will put even more distance between Future, which operates chains such as Big Bazaar and Central, and other players in India’s organized retail market. Hypercity is […]
Future Group has decided to keep its Big Bazaar supermarket open till midnight today. “We are getting a lot of enquiries from customers… so we’ve decided to keep it open till about 11:50 PM,” Kishore Biyani, chairman of Future Group told the media. Though it is being portrayed as a measure of convenience for customers who […]
Heritage Foods Ltd said it agreed to sell its food retail business to Future Retail Ltd in return for shares in the Kishore Biyani firm. The businesses covered by the deal are grocery and food retail, agricultural sourcing, processing and marketing, and bakery. As part of the deal, Future Retail will issue about 1.80 cr […]
Cognizant said that it has entered into a partnership with Future Group, an Indian multi-brand retailer, to transform its consumer goods business, Future Consumer Limited (FCL), into a connected enterprise. “In an era where data, insights and supply chain intelligence are crucial ingredients for turning success into market leadership, Cognizant’s technology, business process, platform and […]
Future Retail, one of the leading retail chains in India, has increased its retail floor space by 3 lakh square feet to 1.3 cr square feet during the April-June quarter this year, said the company. The company has increased its floor spaces in nine cities which includes Hyderabad, Pune, Mumbai, Indore, Nellore, Gaya and Keonjhar. […]
The NSE today has sought clarification from Aditya Birla Fashion and Retail (ABRL) on whether any negotiations for merger has taken place with Kishore Biyani’s Future Group. The exhange’s request for clarification has come after a report in the Economic Times. The report said that Biyani’s Future Group was in early discussion with ABRL to […]
SSG Capital Management Group is investing up to Rs 580 cr to acquire 40% stake in Future Supply Chain Solutions Ltd (FSC) from the existing shareholders of the company at a valuation of up to Rs 1,450 cr. This will include 14% stake to be acquired from Future Retail Ltd (FRL) and the management team […]
Online retailer Flipkart announced a strategic partnership with three of the country’s largest home retail brands—Home Town (Future group), HomeStop (Shoppers Stop) and @Home to sell home decor items. “The partnerships will introduce a whole new range of products from these retail brands—adding to Flipkart’s existing portfolio of 1000+ brands with seven lakhs home products,” […]
