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Future Group's lifestyle retail chain Central which was seen as being ‘distant' from certain categories of consumers, now plans to reposition itself to get closer to all shoppers. Women, kids and non-apparel shoppers who are not large shoppers at Central, are being brought into the fold. “We want to develop all categories so that we are seen as a fashion destination for families,” said Mr Shankar Suryanarayan, Chief Marketing Officer, Central and Brand Factory.
Non-apparel segments
For starters, Central, which has 18 stores across the country, will focus on its non-apparel segments to drive its growth. The store, at present, offers 70 per cent of its space to the apparel category and plans to reduce the space gradually to make an equal offering for apparel and non-apparel categories. “The footwear, kids, personal care and home segment offer huge opportunities which we want to tap into,” said Mr Sankar Suryanarayan, Chief Marketing Officer, Central and Brand Factory.
Central will also focus on women's category. “At present, more men than women are shopping at Central and we want to correct that inequality too,” he said. About 60 per cent of the current sales come from the men's category.
Growth
On its growth for the year, Mr Suryanarayan said Central is targeting a 50-store count in the next three years. During the current year, eight Central stores would be launched, with four of them in Tier 2 towns. The store chain is aiming at a 20 per cent year-on-year growth in sales for the year. It records about 5 lakh walk-ins a week, which is the “largest in the retailing industry in the Southern market,” Mr Suryanarayan said. Conversion rates at Central hover around 25 per cent, he added.
Brand Factory, Future Group's value retailing chain, has 15 outlets and will grow through Tier 2 and 3 towns during this year.
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