Future Lifestyle Expects Brands Business To Aid Apparel Sales
The company acquired 29.9 percent stake in online fashion platform Koovs for about Rs 140 crore earlier this month.
Future Lifestyle Fashions Ltd. expects sales growth in the apparel business to be mainly led by its brands.
“We have a lot of upside on the brand side of the business as we have been revamping them and re-energising all our core brands,” Rakesh Biyani, joint managing director of Future Retail, told BloombergQuint in an interview.
The company acquired 29.9 percent stake in online fashion platform Koovs for about Rs 140 crore earlier this month. Biyani said Koovs will enable to target a niche set of customers as the company will be able to bring in latest fashion more faster with the brand.
Lee Cooper, Scullers, Indigo Nation, John Miller and Bar Casuals are some of the other popular brands of Future Lifestyle and contribute around 37 percent to its revenue. “Within the apparel business, our overall objective is to try and deliver a double digit same store sales growth,” he added.
Here are the other key highlights from the conversation:
- Have taken over entire footwear business from Lee Cooper.
- Planning to bring in synergies between Brand Factory and Central.
- Working closely with brand partners for newer fashion.
Watch the full interview here: