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The Future Group will invest Rs 250-300 crore this fiscal towards opening 15 of its lifestyle departmental store, ‘Central’.
According to Vishnu Prasad, CEO, Central, the new stores are expected to come up in Mumbai, Delhi, Bengaluru, Hyderabad, Kolkata, Guwahati and Indore, among others. Stores are company-owned; and, will be around 100,000 sq ft in size.
“By the end of this fiscal we should have 50 Central stores across the country,” he told reporters on the sidelines of the launch of the first Central store here in the city.
The second ‘Central’ is planned to come up at the now-closed Metro cinema building compound, located at the Esplanade area.
Prasad further pointed out Central was expecting a 40 per cent growth in business, this fiscal.
Meanwhile, the Future Group -- which runs a clutch of apparel and lifestyle retail stores like FBB (Fashion Big Bazaar), Brand Factory, and so on -- expects to grow its fashion business to Rs 12,000 crore in FY18.
Tie-up with West Bengal Government
“Revenue from the fashion business is targeted to touch Rs 12,000 crore this year. Out of this, Rs 3500 crore will come from Central,” Kishore Biyani, CEO, Future Group said.
According to him, the Group had also collaborated with the West Bengal government to open ‘Biswa Bangla’ shop-in-shop outlets at Central stores across the country.
Biswa Bangla is the flagship apparel and decor brand of the State Government. Its offerings include handloom and tant sarees, linen and cotton shirts, casual pants, trousers, kurtas and a variety of handicrafts, decorative items and so on.
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