”India is an extremely ‘underbranded’ country and Future Group sees this as an opportunity to rewrite brand rules and gain sizeable market share in the branded products space,” said Kishore Biyani, founder & CEO, Future Group. Adding further, he said, ” Today, the market share of branded goods in the country would not be more than 8 per cent.”
Further, the company has announced its plans to create strong Indian brands across categories like FMCG, household consumer durables and electronics and apparel categories, with a projected revenue from consumer brands of Rs 100 billion by 2012.
Elaborating on the expansion in the portfolio of their private labels, Santosh Desai, CEO, Future brands shared, ”Very soon we would be entering the space to launch our private labels catering to sportswear, lingerie and beauty.”
The group has also initiated its foray into co-creating brands with celebrities like Sachin Tendulkar (Sach – available products under this brand include cow’s milk and liquid hand wash) and Hema Malini (Dreamline – in the general merchandise category).
It is also believed that the group is also in the process of creating a design and communication network. According to Desai, the core aim of the group is to gradually acquire a leadership position in the consumption arena in India.
When asked if they would be setting up their own production and manufacturing unit for their private brands, Damodar Mall, Group Customer Director, Future Group said, ”No. we would be outsourcing.”