>Shafiq Nadim at 15:51, 7 July 2021

2021-07-07T15:51:12Z

New page

{{short description|Indian conglomerate company}}
{{Use Indian English|date=February 2016}}
{{Use dmy dates|date=February 2016}}
{{Infobox company
| name = Future Group
| logo =
| logo_size = 250px
| type = [[Privately held company|Private]]
| founder = [[Kishore Biyani]] (CEO)
| founded = {{Start date and age|2013}}
| location = [[Mumbai, Maharashtra]], India
| num_employees = 50,000
| net_income =
| industry = [[Conglomerate (company)|Conglomerate]]
| products = {{plainlist|
*[[Retailing]]
*[[Insurance]]
*[[Logistics]]
*Integrated foods
*[[Fast-moving consumer goods|FMCG]] }}
| services =
| divisions = {{plainlist|
*Future Retail Limited
*Future Lifestyle Fashion Limited
*Future Consumer Enterprise Limited
*Future Innoversity Limited
*Future Supply Chains Limited
*Future Brands Limited
*Future Capital Holdings Limited
*Future Style Lab}}
| parent = [[Reliance Industries Limited]] (partially, not approved)
| homepage = {{URL|www.futuregroup.in}}
}}
'''Future Group''' is an Indian [[Conglomerate (company)|conglomerate]], founded by [[Kishore Biyani]]<ref>{{Cite web|last=Prime|first=E. T.|title=Kishore Biyani’s Hamletian muddle: Will the Future Group founder walk his talk?|url=https://prime.economictimes.indiatimes.com/news/68088500/consumer/kishore-biyanis-hamletian-muddle-will-the-future-group-founder-walk-his-talk|access-date=2020-07-06|website=ET Prime}}</ref> and headquartered in [[Mumbai]], [[Maharashtra]], India. The company is known for having a significant prominence in Indian retail and fashion sectors, with popular supermarket chains like [[Big Bazaar]] and [[Food Bazaar]], lifestyle stores like [[Brand Factory]], [[Central (Hypermarket)|Central]], etc. The group also has a notable presence in integrated foods and [[Fast-moving consumer goods|FMCG]] manufacturing sectors. '''Future Retail Limited''' and '''Future Lifestyle Fashions Limited''', two operating companies of Future Group, are among the top retail companies listed in [[Bombay Stock Exchange|BSE]] with respect to assets,<ref>{{cite web|url=http://www.moneycontrol.com/stocks/marketinfo/totassets/bse/retail.html |title=Top Companies in BSE Retail segment by Total assets |publisher=Moneycontrol.com |access-date=2014-07-25}}</ref> and in [[National Stock Exchange of India]] to [[market capitalization|market capitalisation]].<ref>{{cite web|url=http://www.moneycontrol.com/stocks/marketinfo/marketcap/nse/retail.html |title=Top Companies in NSE Retail segment by market cap |publisher=Moneycontrol.com |access-date=2014-07-25}}</ref>

Future Group is a [[corporate group]] and nearly all of its businesses are managed through its various operating companies based on the target sectors.<ref name="Company Businesses" group="Primary">[http://www.futuregroup.in/businesses/retail-finance-services.html Future Group Businesses as mentioned in its official website]</ref> For example, retail supermarket/hypermarket chains [[Big Bazaar]], FBB, Food Bazaar, Food Hall, Hometown, etc. are operated by its retail division, Future Retail Limited,<ref>[http://www.futuregroup.in/businesses/hypermarket_supermarket.html Future Retail Chains]</ref> while its fashion and clothing outlets [[Brand Factory]], [[Central (Hypermarket)|Central]], and Planet Sports are operated via another of its subsidiaries, Future Lifestyle Fashions Limited.<ref>[http://www.futuregroup.in/businesses/lifestyle_fashion.html Future Fashion Chains]</ref> Furniture is retailed through HomeTown stores in major cities and online. With these many fashion outlets and supermarkets, the group also promotes its fashion and sports brands like Indigo Nation, Spalding, Lombard, Bare, etc., and [[Fast-moving consumer goods|FMCGs]] like Tasty Treat, Fresh & Pure, Clean Mate, Ektaa, Premium Harvest, Sach, etc.<ref name="Company Businesses" group="Primary"/> It also has operating companies to cater specifically to internal financial matters and consulting within its group of companies.<ref>{{cite web|author=BSE |url=http://profit.ndtv.com/stock/future-retail-ltd_pantaloonr/reports |title=Future Group Companies |publisher=Profit.ndtv.com |date=10 Jul 2014 |access-date=2014-07-25}}</ref>

== History ==
In May 2012, Future Group announced a 50.1% stake sale of its fashion chain [[Pantaloons Fashion & Retail|Pantaloons]] to [[Aditya Birla Group]] in order to reduce its debt of around {{INRConvert|8000|c|lk=|year=2012}}.<ref>{{cite news|author=Our Bureau |url=http://www.thehindubusinessline.com/companies/aditya-birla-novo-to-take-control-of-pantaloons-apparel-business/article3370466.ece |title=Aditya Birla Novo to take control of Pantaloon's apparel business |publisher=Thehindubusinessline.com |date=2012-04-30 |access-date=2014-07-25}}</ref><ref>{{cite news|author=Suman Layak |url=http://businesstoday.intoday.in/story/future-group-aditya-birla-nuvo-deal/1/24720.html |title=Friendly Takeover |publisher=Business Today |date=2012-05-27 |access-date=2014-07-25}}</ref> To do so, [[Pantaloons Fashion & Retail|Pantaloons]] fashion segment was demerged from Pantaloons Retail India Ltd; the latter was then merged into another subsidiary—Future Value Retail Ltd—and renamed to Future Retail Ltd.<ref>{{cite news|url=http://articles.economictimes.indiatimes.com/2012-09-10/news/33737171_1_big-bazaar-pril-kb-s-fair-price |title=Future Value to be merged with Pantaloon Retail to cut operating cost |publisher=India Times |date=2012-09-10 |access-date=2014-07-25}}</ref>

On 21 November 2014, Future Consumer Enterprises Limited acquired the 98% from [[Actis Capital]] and other promoters. With that, Nilgiris is a fully owned subsidiary of Future Consumer Enterprises Limited (FCEL).
Future Retail Ltd. is listed on [https://www.bseindia.com/] in S&P BSE 200. It Belongs to A group company (To check latest share price [https://www.bseindia.com/stock-share-price/future-retail-ltd/fretail/540064/ click here])

On 29 August 2020, it was announced that [[Reliance Retail]] had reached an agreement with Future Group to acquire its retail and wholesale business, and also its logistics and warehousing businesses for $3.4 billion.<ref name=":0">{{Cite web|title=India’s Reliance Retail to acquire Future Group’s retail, wholesale, and logistics businesses for $3.4 billion|url=https://social.techcrunch.com/2020/08/29/indias-reliance-retail-to-acquire-future-groups-retail-wholesale-and-logistics-businesses-for-3-4-billion/|access-date=2020-08-29|website=TechCrunch|language=en-US}}</ref> This takeover is approved by CCI,NSE,BSE and SEBI.

===FabFurnish===
'''FabFurnish''' was launched an online [[retail]]er of [[furniture]], décor and [[home appliances]] in March, 2012 by Vikram Chopra,<ref>{{Cite web|url=http://retail.franchiseindia.com/congress2014/vikram-chopra.php|title=Indian Retail Congress, Awards|last=Franchise|first=India}}</ref> Mehul Agrawal and Vaibhav Aggarwal.<ref>{{Cite web|url=http://ambitionbox.com/company/fabfurnish/|title=Discover Companies {{!}} AmbitionBox|last=Ambition|first=Box|website=FabFurnish.com}}</ref> The company was headquartered in [[Gurgaon]], [[National Capital Region (India) |NCR]].

Vaibhav Aggarwal quit the company in early 2014. In July 2015, the brand declared strategic restructuring of its top management by introducing Ashish Garg and Ankita Dabas as the new co-founders. In April 2016, FabFurnish became a ''Future Group'' company and is part of the Group's long term growth plan.<ref>{{Cite news|url=https://inc42.com/flash-feed/future-group-relaunch-of-fabfurnish/|title=Future Group Announces Relaunch Of FabFurnish; Plans To Merge With HomeTown|last=Inc42|first=Media|date=5 May 2016}}</ref><ref>{{cite news |title=Kishore Biyani’s Future Group to buy FabFurnish.com |url=https://www.livemint.com/Companies/Rdn1bKvDcleWU6WbqgFDxN/Kishore-Biyanis-Future-Group-to-buy-FabFurnishcom.html |work=Mint (newspaper) |date=6 April 2016 |language=en}}</ref> On April 13 2017 Times of India reported that [[Future group]] were likely to close FabFurnish.<ref>[https://timesofindia.indiatimes.com/companies/future-group-likely-to-shutter-furniture-e-tailer-fabfurnish-after-a-year-of-acquisition/articleshow/58157498.cms?from=mdr Future group likely to shutter furniture e-tailer FabFurnish ]</ref>

====Marketing====
FabFurnish released its first television commercial with the tagline ‘Home of Fimagination’ in January 2014.<ref>{{Cite news|url=http://www.bestmediainfo.com/2014/01/fabfurnish-com-launches-its-first-ever-tvc/|title=FabFurnish.com launches its first-ever TVC {{!}} Best Media Info, News and Analysis on Indian Advertising, Marketing and Media Industry.|last=BestMedia|first=Info|date=22 January 2014}}</ref> In October 2015, the brand released its digital campaign ‘Mrs India ka Ghar’ followed by a series of visual stories and videos by the end of year on the theme ‘Heart is Home’. As a part of this campaign, the website featured homes of well-known people from different walks of life. Also, film actor [[Kalki Koechlin]]<ref>{{Cite news|url=http://elle.in/culture/kalki-koechlin-plays-decorator-for-fabfurnish/|title=Kalki Koechlin turns decorator for FabFurnish|last=Elle|first=India}}</ref> curated her favourite looks for the brand which was released in the form of stills as well as video in March 2016.

====Awards====
* Indian Home Congress & Awards declared FabFurnish.com as the ‘ E-Retailer in India' in home category in the year 2012.<ref>{{Cite news|url=http://www.afaqs.com/news/company_briefs/?id=55352_FabFurnish.com+awarded+|title=FabFurnish.com awarded 'The Best Home E-Retailer in India' award by The Indian Home Congress|last=afaqs|date=8 October 2012}}</ref>
* In 2014, FabFurnish.com was awarded 'Home & Lifestyle eRetailer of the Year, 2014' at the Indian eRetail Awards.<ref>{{Cite news|url=http://www.indiainfoline.com/article/print/news-business/fabfurnish-com-awarded-as-the-home-lifestyle-eretailer-of-the-year-at-indian-eretail-awards-2014-114050200275_1.html|title=FabFurnish.com awarded as the “Home & Lifestyle eRetailer of the Year” at Indian eRetail Awards 2014|last=India Infoline|first=News Service|date=2 May 2014}}</ref>

==Future Group's operating companies sorted by targeted markets==
<ref name="Company Businesses" group="Primary"/>

===Retail===

* Future Retail Ltd<ref>{{Cite news|url=https://www.thehindu.com/news/cities/Hyderabad/Future-Group-to-steer-Heritage%E2%80%99s-retail-business/article16439512.ece|title=Future Group to steer Heritage’s retail business|newspaper=The Hindu|date=8 November 2016|access-date=19 August 2020|language=en}}</ref>
* Future Lifestyle Fashion Ltd
* Future Consumer Limited<ref name="FutureConsumer" group="Primary"/>
* Future Enterprises Limited
* Swathi Tiffin Shop
* Foodhall

===Financial services===

* [[Future Capital Holdings]] (for internal financial services)
* Future Generali Life Insurance
* Future Generali General Insurance
* Future Ventures

===Other services===

* Future Innoversity
* Future Supply Chains
* Future Brands

===Future Retail Ltd.===
* HomeTown, furniture retailer<ref>[http://www.retail4growth.com/news/fanzart-partners-with-future-groups-hometown-stores-4478 Fanzart partners with Future Group's HomeTown Stores]</ref>
* Koryo (Private Label)
* Food Bazaar
* Fashion at Big Bazaar (FBB)
* Aadhaar Wholesale
* [[Ezone|E Zone]]
* Foodhall
* [[Easyday]]
*[[Big Bazaar]]<ref>{{Cite news|url=http://www.thehindu.com/business/Big-Bazaar-to-invest-Rs.-600-crore-on-expansion/article16258263.ece|title=Big Bazaar to invest Rs. 600 crore on expansion|last=Reporter|first=Corporate|work=The Hindu|access-date=2017-02-26|language=en}}</ref>
*[[Nilgiris 1905]]
*Heritage Fresh<ref>{{Cite news| url=https://www.livemint.com/Industry/ImeCeMhr1dyJi0ojyipjLL/Future-Retail-to-acquire-retail-and-allied-business-of-Herit.html|title=Future Retail buys Heritage Foods’s retail business|last= pilla|first=vishwanath|work=Live Mint| access-date=2016-11-07|language=en}}</ref>
*[[HyperCity]]

====Future Lifestyle Fashion Ltd====
* [[Central (Hypermarket)|Central]]
* [[Brand Factory]]
* Planet Sports
* I AM in

==Fashion and lifestyle (Brands)==
* Indigo Nation
* Scullers
* John Millers
* All
* Rig
* Coverstory
* SPUNK
* DJ&C
* Buffalo
* Hey
* Bare
* Clarks
* Holii
* UMM
* Urban Yoga
* Jealous 21

==Integrated foods and FMCG (Brands) <ref name="FutureConsumer" group="Primary">{Cite web|url=https://futureconsumer.in/|title=Future Consumer Limited|website=futureconsumer.in|access-date=2020-01-23}</ref> ==

* NILGIRIS
* Tasty Treat
* Fresh & Pure
* Ektaa
* Premium Harvest
* Mera Swad
* Pratha
* Punya
* Sach
* Kosh
* Sunkist
* Kara
* TS
* Clean mate
* Care mate
* Swiss tempelle
* Baker street
* Golden Harvest
* Prim
* Desi Atta Company
* Sangi's Kitchen
*Voom
*Dreamery
*Sensible Portions
*MYSST
*Puretta
*Veg Affaire
*Terra
*Mother Earth
*Karmiq

==Joint venture partnerships==

===Amazon-Future Retail===
[Amazon-Future Retail] Biyani company valued at [[Indian rupee|₹]]43,000 [[crore]]: Amazon gets coupons to invest in Future Retail. ... MUMBAI: Amazon has agreed to acquire an indirect minority stake in Future Retail, the operator of [[Big Bazaar]] and EasyDay chains, ahead of an option to buy all or part of the promoters' holding in the company after three years. Rajan Malhotra the President – Retail Strategy at Future Group resigned in Nov 2019..

===Generali Group===
[[Assicurazioni Generali|Generali]] is an Italian insurance company, having business in [[India]] through a joint venture with Future Group under the brand name Future Generali Insurance. Future Generali operates in [[India]] having through two primary legal entities namely Generali India Life Insurance Co. Ltd. (Life Insurance) and Generali India Insurance Co. Ltd. (Non-Life Insurance).<ref group="Primary">[https://life.futuregenerali.in Future Generali Website]</ref> Since 2013, Future Generali held talks of a possible merger with [[Larsen & Toubro]] Ltd. to form a general insurance company but a year later, on 22 April, Future Group backed out of merger leading to premature closure of the talks.<ref>{{cite news|author=Shilpy Sinha |author2=Arijit Barman |url=http://articles.economictimes.indiatimes.com/2014-04-22/news/49318720_1_lt-general-insurance-company-generali-group-kishore-biyani |title=Kishore Biyani to pull out of general insurance merger talks with L&T for Future Generali |publisher=Economic Times |date=2014-04-22 |access-date=2014-07-25}}</ref>

===Staples Inc===
[[Staples Inc.]], a United States-based office supply retailer, has a presence of over nine cities in [[India]] under the joint venture with Future Group.<ref group="Primary">{{cite web |url=http://www.futuregroup.in/news/joint-venture-staples.html |title=Future group press release announcing JV with Staples Inc |publisher=Futuregroup.in |date=2007-01-18 |access-date=2014-07-25 |archive-url=https://web.archive.org/web/20140811022514/http://www.futuregroup.in/news/joint-venture-staples.html |archive-date=11 August 2014 |url-status=dead |df=dmy-all }}</ref><ref>{{cite web|url=http://www.staplesfuture.com/aboutus.asp |title=Staples Future Overview |publisher=Staplesfuture.com |access-date=2014-07-25}}</ref> As of April 2013, Future Group has 60% stake in the partnership.<ref>{{cite news|author=Sagar Malviya |url=http://articles.economictimes.indiatimes.com/2013-04-04/news/38278585_1_staples-future-office-products-future-group-staples-inc |title=Future Group, CEOs JV buy majority stake in Staples |publisher=Economic Times |date=2013-04-04 |access-date=2014-07-25}}</ref>

===Skechers===
[[Skechers]] entered [[India]] through a JV with Future Group in 2012. Skechers ends joint venture with Future group in February 2019 by buying 49% stakes.<ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/services/retail/skechers-buys-future-groups-49-in-joint-venture-for-independent-run/articleshow/67968514.cms?from=mdr|title=Skechers buys Future Group's 49% in joint venture for independent run|date=2019-02-13|work=The Economic Times|access-date=2020-01-23}}</ref>

===Celio===
French fashion [[Celio (retailer)|Celio]] entered Indian markets in 2008 through a 50:50 joint venture with Future Group's then retail hand, Pantaloons Retail India Ltd (now Future Retail Ltd).<ref>{{cite web|author=Rasul Bailay |url=http://www.livemint.com/Companies/bifI2VRPdrpboPBNHU3hMJ/Pantaloon-in-JV-with-menswear-firm-Celio.html |title=Pantaloon in JV with menswear firm Celio |publisher=Livemint.com |date=2008-04-17 |access-date=2014-07-25}}</ref> In November 2013, Celio hiked its stake in the joint venture to 65%.<ref>{{cite news|author=Raghavendra Kamath |url=http://www.business-standard.com/article/companies/celio-hikes-stake-in-future-group-jv-to-65-113112500030_1.html |title=Celio hikes stake in Future Group JV to 65% |publisher=Business Standard News |date=2013-11-25 |access-date=2014-07-25}}</ref>

===Clark===
[[C. & J. Clark|C&J Clark International Ltd]]. is a UK-based footwear and accessories retailer. The Future Group has entered into a 50:50 joint venture (JV) to form 'Clarks Future Footwear Ltd'. The JV launched its first (1,600 sq ft.) stand-alone store in [[Connaught Place, New Delhi|Connaught Place]], [[Delhi]] on 19 April 2011. The brand seeks to gain a share of the premium segment in this category.
<ref>{{cite web|url=http://www.livemint.com/Articles/PrintArticle.aspx?eat=tp&artid=E96C9986-6A65-11E0-A3E0-000B5DABF613 |archive-url=https://archive.today/20120904025111/http://www.livemint.com/Articles/PrintArticle.aspx?eat=tp&artid=E96C9986-6A65-11E0-A3E0-000B5DABF613 |url-status=dead |archive-date=2012-09-04 |title=Print Article |publisher=livemint |date=2011-04-20 |access-date=2011-06-20}}</ref>

===Reliance Retail acquisition===
On 29 August 2020, it was announced that [[Reliance Retail]] had reached an agreement with Future Group to acquire its retail and wholesale business, and also its logistics and warehousing businesses for $3.4 billion.<ref name=":0" /> Reliance Retail extends deadline to complete Rs 24,713 crore deal with Future Group https://www.inventiva.co.in/stories/inventiva/reliance-retail-extends-deadline-to-complete-rs-24713-crore-deal-with-future-group/,

==See also==
* [[Online shopping]]
* [[Ecommerce in India]]

==References==
{{reflist|22|refs=https://www.inventiva.co.in/stories/inventiva/reliance-retail-extends-deadline-to-complete-rs-24713-crore-deal-with-future-group/}}
<references />

===Primary sources===
{{primary sources|date=May 2020}}
{{reflist|group="Primary"}}

==External links==
* {{Official|www.futuregroup.in}}
* {{URL|www.bseindia.com}}

{{Nifty 200 companies}}

[[Category:Companies based in Mumbai]]
[[Category:Retail companies of India]]
[[Category:Online retailers of India]]
[[Category:Retail companies established in 2013]]
[[Category:2013 establishments in Maharashtra]]
[[Category:Indian companies established in 2013]]

Future Group - Revision history

>Shafiq Nadim at 15:51, 7 July 2021