Future Lifestyle Fashions Ltd. expects its tie-ups with “power brands” such as Lee Cooper and John Miller to fuel a 25 percent growth rate over the next three years.
“Lee Cooper will be a Rs 1,500-crore brand over the next five years,” the company’s Non-Executive Director Rakesh Biyani told BloombergQuint in an interview. Future Lifestyle recently extended its licence agreement with Lee Cooper in an effort to attract more customers.
The company has also identified five other brands – John Miller, Jealous 21, Scullers, Indigo Nation and aLL– to drive its growth in the future. The six brands have together contributed nearly Rs 400 crore to its Rs 1,236 crore revenue in the third quarter of financial year 2017-18.
The tie-ups come at a time when, according to Biyani, the market is poised to expand over the next five years aided by a growing per capita income and higher consumption. The owner of outlets, such as Central, Brand factory and Planet Sports, will expand its distribution network to leverage opportunities.
“When we look at what we will be at the end of three years, the business size will be almost 2.5 times of what it was at the end of March,” Biyani said. Besides, consumption in aspirational categories like fashion beauty and personal care will rise three times in the next 10 years, and that’s the core category of Future Group, he added.
Watch the full interview here.