priority is to strengthen the supply chain management of the stores.
Meanwhile, the retail baron expects the FairPrice format to drive the growth of his new FMCG company, Future Consumer Enterprises. In July, Biyani listed Future Ventures on the stock exchanges after changing its business from that of a non-banking finance company (NBFC) and an investment arm. Last month, the company's name was changed to Future Consumer Enterprises.
Private labels currently contribute 40% of KB’s Fairprice’s turnover but, going forward, this is expected to increase. In-house brands, such as Golden Harvest (staples), Sach (toothpaste, juice, ghee) and Tasty Treat are housed in the stores.
The company strengthened its reach in the convenience store format after it acquired the Big Apple chain of food and grocery stores last year for R62 crore.