Industry News

Future Group set to change India’s retail landscape

India: India’s retail market is estimated to be worth USD 600 billion and the country’s largest retailer Future Group and Star Bazaar have been trying to get most out of this. The retail market is set to change as Future Group will sell a dozen of its own brands at Star Bazaar outlets, which is co-owned by Tata Group’s Trent and UK’s Tesco. Star Bazaar competes with Future Group’s Big Bazaar in India. This is a rare instance of private labels being sold by a rival.

Future Group has been gradually expanding its reach through its own retail network of more than 500 supermarkets, including Big Bazaar, Big Apple and Nilgiri’s. Star Bazaar runs 22 outlets which will benefit Future Group to expand its product availability. Furthermore, Future Group set up an FMCG company, Future Consumer Enterprise (FCEL), about two years ago, which has so far sold products in the group's retail network. The company is working on its vision 2021 which targets to triple the revenue form INR 22000 crore now.

According to TechSci Research, this would help Future Group to turn its private label products into an acceptable brand, which the company has been aiming for. This would also help FCEL which offers more than two dozen products in food, snacks, home care, beverages etc. This sharing of distribution channel would also help Star Bazaar which is aiming to become a big player in booming India’s retail market.