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Mar, 09 2016

Future Group to bet big on food business, targets Rs 20,000 crore revenue

The Group currently has 27 brands under 64 categories including food brands like Karmiq, Golden Harvest, Desi Atta, Fresh & Pure, Premium Harvest, Ektaa and Tasty Treat.

Future Group is targeting high from its foods arm clocking a revenue of Rs 20,000 crore in this segment by the year 2021.

For the next fiscal, It is targeting revenue of Rs 4,000 crore, followed by five-fold jump to Rs 20,000-crore in five years.

"We have a vision that we will grow (FCEL) to Rs 20,000-crore business by 2021," Kishore Biyani, Founder and CEO, Future Group, shared in a press conference in Mumbai.

"It comes with the ambition of the Group also, which has decided to open multiple stores.... 360 hyper-markets, 4,000 small stores. If we are able to do that, our food business alone on the retail side will be close to Rs 40,000 to Rs 45,000 crore," added Biyani.

The Group currently has 27 brands under 64 categories including food brands like Karmiq, Golden Harvest, Desi Atta, Fresh & Pure, Premium Harvest, Ektaa and Tasty Treat.

Future Group has also tied up with LT Foods, owner of the Daawat rice brand, for developing rice and rice products.

“FCEL has already started a distribution pilot in Varanasi for its brand Tasty Treat, and targets revenue of up to Rs 1,500 crore for the brand by 2021, he said.

"The company is currently in the process of evaluating different distribution models, and has appointed distributors in the general trade as a pilot project in Varanasi," added Biyani.

The Group plans to sell its products in about 5,000 stores in Mumbai and targets their all-India launch in 18-20 months, he had said earlier.

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