SME Times is powered by   
Search News
Just in:   • '35 pc cos pay nil GST, which shows no burden on SMEs'  • Cinepolis Hosts a Special Screening for the Underprivileged Kids  • Dr Amal Al Qubaisi Wins Parliamentarian Excellence Award as Best President of Arab Parliament  • Launch of Life Skills Program  • Google Play Awards 2017 Announced: LIKE Wins 3 Prizes Among Global Competitors 
Last updated: 20 Mar, 2017  

Fashion.9.Thmb.jpg Future Group hopes its fashion business to grow 30 pc in FY18

future.group.jpg
   Top Stories
» FM for strengthening banks to enable them to lend to MSMEs
» Ready to discuss all issues on floor of Parliament: Govt
» Only 13 pc cos use digital to drive both growth, efficiency: Survey
» Impact of GST on SMEs: Mixed reactions from state Finance Ministers
» WPI inflation at 3.93 percent in November
SME Times News Bureau | 20 Mar, 2017
The Future Group is expecting its fashion business to grow 30 percent in the next financial year to touch Rs 10,000 crore, a company official said on Saturday.

"We expect our fashion business to grow by 30 percent in FY18 and it is expected to touch Rs 10,000 crore in the next year," Group's CEO Kishore Biyani said here.

The group is also expecting to sell 22-23 crore garments by March 2018 and more than 80 crore of garments in the next four-five years, he said.

The group, which has about 300 FBB stores, has planned to open additional 80 outlets in the next financial year.

"We will be reducing prices by three-five percent of the garments every year what you see today," he said at the opening of country's largest store here.

According to him, the retailer has been able to scale up its fashion business with improved supply chain and adopting technology. "With the efficiency, we would be able to reduce the prices of fashion products every year," Biyani said.

On Saturday, Biyani was in West Bengal's Burdwan district to open its second largest distribution centre.

"Consumer market in the east is the most stable than markets anywhere in the country," he said, adding that the retailer will open another store here on Monday.

Fashion business contributes about 45 percent of the Group's revenue while food and household item segments cover the rest.

The Future Group has envisaged to Rs 60 crore for setting up a garment factory in the city. "We are working on the garment factory in the city and we have taken the space," he said but declined to make give the exact location of the factory.

Biyani expects that more efficiency will come with the rolling out of Goods and Services Tax. "We are hoping to see the lowest tax rate under the GST regime," he added.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 16 Dec, 2017
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(13)
» Foreign Trade Policy(6)
» Govt launches public procurement portal for MSEs - MSME Sambandh(1)
» List of items for which anti dumping duties has been levied with related notifications(1)
» India, China to strengthen bilateral trade, investment(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter