Future Group is working out for a bright future

Ace entrepreneur Kishore Biyani’s Future Group is planning to revamp its 500 EasyDay stores into the new format of EasyDay Club.

The group is planning to open 10,000 member-only Easyday stores by 2022. Keeping in mind this target, the group plans to open a store within 2 km of every Indian consumer. The approximate investment for each new store will be Rs 15 lacs. With this, the group’s business would reach a level of Rs 1.5 trillion by 2022.

Also, by executing a digital strategy, Biyani wants to make the group, Asia’s largest consumer company with trillion dollars in revenue by 2047. To attain this huge target, the group must grow at a 20 per cent compound annual growth rate for the next 30 years. The digital strategy, Retail 3.0 initiative will use some predictive and analytic technologies. It is partnering with Google and Facebook and consulting firm Deloitte to develop this technology.

Four listed retail entities are part of the Future Group, namely Future Consumer, Future Enterprises, Future Lifestyle Fashion and Future Retail. Of which, on Tuesday, Future Enterprises has raised Rs 30 crore through non-convertible debentures on a private placement basis.

With the announcement of this plan, all the companies of the group surged on Wednesday. In the morning session, Future Consumer was up by ~3.5%, Future Enterprises by ~8.8%, Future Lifestyle Fashion by ~6.9% and Future Retail spiked by ~11.5%.