Future Group would add six more larger format stores under its Central brand by the end of this year taking its total count to 40.
The company would add more stores in the existing markets as in Mumbai and Bengaluru and also target the emerging tier II & III places.
“We are planning to have six more stores by the end of this year. We have plans to add 2.5 million square feet this year,” Future Group CEO Kishore Biyani told PTI.
The company is operating 33 central stores in large cities including Mumbai, Benagluru, Hyderabad, Pune and some in small cities such as Indore, Patna, Baroda and Surat.
On expansion, he said:”We would continue to focus on tier I & II. Wherever there would be a suitable customer, we would be there”.
However, on the location of the Central store, he said it all depends on the right property as it is a large format store and needs more space.
The company today opened its 34th store in Delhi, which is its first Next Generation Central Store. Located at aerocity, the new store would house 500 brands.
Future Group, which owns several retail formats as Central, Brand Factory, Planet Sports, Big Bazaar, Easyday, Food Bazaar, Foodhall, HomeTown & Ezone, is adopting omni channel system by integrating online e-commerce with its traditional stores.
“We are working on this very rapidly. We have completed in Ezone and we are working on trial basis on other formats. It would be operational in all Big Bazaars in next six months,” he added.
Future Group, which is aiming to have Rs one lakh-crore business by 2021, would continue to grow between 20 to 30 per cent every year.
“We would continue to grow 20 to 30 per cent every year. The growth would mainly come from food, fashion and home category,” he added.