Future Group to join the Foreign Investment Race.
Future Retail, the Indian private Conglomerate is about to close a deal with a foreign investor. In a recent media interview, Kishore Biyani disclosed his plans on this venture. To increase more profit and roll out new retail outlets in India, Future Group has always topped the race.
The real scenario for Future Group FDI
The scenario here is that all the Indian retail and business sectors are backed by foreign investors. Flipkart, Snapdeal, OYO, Paytm, and Zomato are India’s leading companies which fall into this category. Likewise, Kishore Biyani’s Future group goes down this list of foreign investors bound to Indian conglomerate.
The Mumbai based Indian conglomerate is prominent among Indian fashion and retail sectors. Biyani group has half a dozen supermarket store chains in about 255 cities among which the leading store is BigBazaar. He believes mainly in data and not on physical stores. Furthermore, it has a customer base of 500 million visiting annually. Other than BigBazaar, it also houses Nilgris 1905, EasyDay, Future Retail, T24, Hyper City, Etc.
The fact that all players in the same sector grow bigger is quite intimidating. Certainly, they need an alliance despite all its stand in the Indian market.
India doesn’t allow any investment with retailers overseas. But a retailer giant like Amazon has a widespread customer base in India and is the highest selling e-commerce platform. Amazon in India is building itself beyond online space and would obviously want to learn from successful retailers in physical space. Future group is reported to be in talks with Amazon, the e-commerce giant. Eventually, the deal may take 2-3 months to be effective after formalities and discussion.
The future group is into the plans to launch a new digital strategy ‘Retail 3.0’ blending brick and mortar stores and technology. Evidently, the future Group finds physical presence by online companies to be significant in the Indian market.
Bundled with so many to-do-tasks on hand, Future group is rolling the dice for investments to withhold in the retail market. Let’s stretch back to trace the on and off cues exposed by the Retail company.