Future Group Plans To Invest Rs 350 Crore To Open 140 Exclusive FBB Outlets
Kishore Biyani-led Future Group's value fashion venture ‘FBB’ plans to invest Rs 350 crore to open about 140 exclusive outlets, as it aims to double turnover in the next two years.
At present, FBB retails its products through 385 points of sales in Big Bazaar stores, including 62 exclusive outlets.
“Over the last two years, FBB has undergone a significant transformation. We have worked on improving products assortments, in-store experience by reworking/renovating 100 points of sales where FBB is sold and also strengthened our supply chain. Now we will cement our positions to drive growth,” FBB Chief Operating Officer Rajesh Seth told PTI.
“We plan to have 200 exclusive FBB outlets in the next two years...financial year 2020-21. We will invest about Rs 350 crore to open these stores. We aim to double our turnover in the next two years,” he added.
FBB, however, did not disclose its financial numbers.
Out of these about 140 planned new exclusive stores, 40 will be opened in the current financial year.
FBB has also partnered with global fibre brand Lycra to offer products at its stores in India.