Biyani bets big on fashion, eyes Rs 7,000 cr revenue next year

Future Group founder Kishore Biyaniexpects to clock Rs 7,000 crore from the fashionbusiness in the next financial year.

“The fashion vertical, we think we will be a Rs 7,000-crore plus business, which is far larger than any of our otherverticals. We believe `Fashion at Big Bazaar’ will becontributing Rs 3,000 crore and `Future Lifestyle Fashion’ thebalance Rs 4,000 crore next fiscal,” Biyani said, adding thatcompany will increase its focus on this vertical.

Fashion at Big Bazaar on Friday roped in cricketer ShikharDhawan as its brand ambassador.

The group would be adding 1.5 million sqft retail spacenext year.

[caption id=“attachment_125900” align=“alignleft” width=“380”] Future Group head Kishore Biyani.[/caption]

Future Lifestyle Fashion divested minority stakes in Bibaand Anita Dongre-owned AND for Rs 450 crore and Biyani saidthe company is now looking at acquiring stakes in new firms.

“Wherever we had minority stake, we exited in twocompanies AND and Biba. We have stakes in other companies. Idon’t think we are currently in discussion on exiting any ofthem…In fact we are looking at picking up stakes infootwear, handbag, other fashion – women and men’s wearcompanies now,” he said.

The company will soon announce a licensing deal with aninternational company to get into aerated beverages space. Thedeal is expected to be closed as early as December 9, headded.

PTI