Kishore Biyani's Future Group to infuse Rs 750 crore for 'Brand Factory'
Our Corporate Bureau
27 September 2007
New Delhi: Kishore Biyani's Future Group is all set to infuse up to Rs 750 crore over three years for setting up 50 'Brand Factory' outlets that will house around 120 brands across various categories, with prices discounted by 20-50 per cent.
Future Group's Brand Factory aims to provide the best apparel brands in men's, women's and kids segment, along with luggage, mobile, accessories and footwear at what it calls, 'smart prices'.
The plan is to set up 50 'Brand Factory' stores across metros and grade-A cities in India, by 2010-11, according to Brand Factory marketing chief Rajesh Seth. One store could entail an average investment of Rs 15 crore, which would spread across 6,500 feet of retail space.
The company currently has five such outlets at Bangalore, Ahmedabad, Pune and Hyderabad, and opened its sixth outlet at Ghaziabad, its first in North India.
Housing brands like Arrow, Espirit, Van Heusen, Louis Philippe, Levis, Titan, Lee, Pepe, Wrangler, Lee Cooper, Nike, Adidas, Liberty, Red Tape, Reebok, Revlon and Maybelline, the Brand Factory provides a single roof for all of these inhabitants.
According to Seth, the company is aiming at the youth who have high purchasing power, and a brand conscious attitude, saying that more than 70 per cent shoppers at the Brand Factory are below 30 years, and desire fashion brands at reasonable prices.