|
The
Future Group team was in Bangalore yesterday to reveal the
‘Future Cup’ which was unveiled by the two opposing
one day captains – India’s Mahendra Singh Dhoni
and Australia’s Ricky Pointing.
 “The
idea is to utilize this association to ensure our message
reaches, because young India is a confident India, which is
also what our brand stands for’” said Pantaloon
Retail India Chief – Marketing Dupindera Sandhu. ”Each
of our brands will have its own need, depending on the need
and the fit we’ll promote each brand. All the brands
will be there over the three years that we will be anchor
sponsors with Neo Sports,” added Sandhu.
The
group plans to bring in lifestyle brand Replay into India
shortly with a product prize ranging generally between €70/-
and €200/- and the lower end products costing about €30/-,
in competition with Arivind Brands German brand Diesel. “We
are looking at some flagship stores for this brand, and will
be opening two stores of around 2,000 square each area in
the Delhi area at a cost of about Rs.30-40 million per store.
We plan to open around twelve stores in the Mumbai, Delhi
and Bangalore for this brand,” revealed Future Group
director and CEO Rakesh Biyani while speaking with Indiantelevision.com.
Replay is a €500 million brand that belongs to the Italian
‘Fashion Box’ group said Biyani.
“India
is the darling of the world, so everybody wants to come to
India and many groups are in talks with us. In all probability
I’ll be signing an agreement next week, we will talk
about it once the deal is done,” informed Biyani when
asked about new tie-ups and agreements to bring in other brands
into India.
With
regards to the in-house brands and the brands that the group
currently sells in India, Biyani said, ”We will focus
on making our private labels into good quality brands. So
the focus will be on John Miller, a Buffalo which is going
into our Big Bazaar stores, and Lee Cooper which is our mass
premium market brand and Bear, DJ&C, each of these brands
bring in about Rs.400 million to Rs.1 billion currently, we
want to take them to the next level of Rs.3 billion to Rs.4
billion sales from each brand. Clearly the potential exists
and we can make our own homegrown labels into great brands.
Biyani
said that the group is looking very closely at the ethnic
wear. “We believe that there is tremendous potential
in India for ethnic wear in the modern retail space. I think
that there’s no question that this is a big market. Our
guesstimate is that it is about 40% of the total fashion market.”
|
