“The company has planned to open multiple stores – 360 hypermarkets and hundreds of small stores. If the group is successful in doing this, than our business on the food retail side alone will be close to Rs. 40-45,000 crore. Our brands can be a part of this growth,” added Biyani (KB), CEO of Future Group.
Laying bare his intentions for expansion of the food business, Kishore Biyani plans to clock Rs.45,000 crore in his food retail business in the next 5 years.
“Food is becoming a status symbol”, believes Biyani, saying “There is no bigger canvas than the food industry in the market.” He has introduced 37 brands in 64 categories. He has a vision to grow to Rs. 20,000 crore sales in business by 2021.
“The company has planned to open multiple stores – 360 hypermarkets and hundreds of small stores. If the group is successful in doing this, then our business on the food retail side alone will be close to Rs. 40-45,000 crore. Our brands can be a part of this growth,” added Biyani, CEO of Future Group. Biyani has launched about 15-20 own brands with a thought to clock 70% of the total earnings. The new brands are in varied categories like food, home and personal care brands. The new in-house brands like Golden Harvest is thought to make 3,500 crore by 2021. Another home grown brand, Tasty Treat, Biyani believes, has been widely accepted by the customers, so he is eyeing a turnover of 1,500 crore by 2021. Nilgri, a bakery and dairy company, which replaced Amul on the shelves, is expected to touch Rs. 700 crore by 2021.
While other companies sell breakfast oats, Future Group will soon launch its oats brand called Kosh which will be producing oats with combinations to be served as lunch and dinner. They are also going to launch a personal care product in a partnership with Swiss firm Mibelle of Sri Lanka.
Kishore Biyani is in full swing to raise the bar to stay in the business by launching new brands in several categories. He also plans to have manufacturing units in the country which will boost not just the production but the ‘Make in India’ plan as well.
Source: India Infoline
Biyani aiming for five-fold jump in food retail business by 2021