Future of organized retail industry in India: A focus on future group

Abstract

With over INR 5000 crore in revenues, and profits of INR 125 crore in 2008 (Exhibit 9), Pantaloon Retail India Ltd. operates the largest retail chain in the country. Future group, the parent group of PRIL, is one of India’s leading business houses with businesses spanning across the consumption space. Future groupis present in retail segment in 71 cities of India across the country and operates around 1000 stores spread over 12 million square feet of retail space (Exhibit 9). Apart from Pantaloons, the Future group manages some of India’s most popular retail chains like Big Bazaar – a unique Indian hypermarket chain, Food Bazaar – a supermarket chain that blends the look, touch and feel of Indian bazaars with aspects of modern retail like choice, convenience and quality; and Central -- a chain of seamless destination malls. Some of its other formats include Brand Factory, Planet Sports, aLL, Top 10, Home Town, Furniture Bazaar, eZone, Electronics Bazaar, Collection i, Star and Sitara. With most of these formats having been launched post-2006, Future group was increasingly aiming for serving most of a consumer’s basic and lifestyle needs. While retail forms the core business activity of Future Group, subsidiaries are present in consumer finance, capital, insurance, leisure and entertainment, brand development, retail real estate development, retail media and logistics. The group’s subsidiaries seemed to span business segments that constitute the whole retail ecosystem.