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Thursday, 14 October 2010 |
Future Group has launched its new e-commerce initiative.
The group believes that in the next four to five years, e-commerce will account for at least 10 per cent of its physical retailing. According to sources the group also planned to launch a mobile commerce platform and a television shopping channel. The focus will be on electronic and general merchandise initially and supply chains will also be set up for the venture. The group is also setting up supply chains for the e-commerce venture.
Additionally they will also set up a dozen fresh produce and consumer goods distribution centers in the country as part of an integrated food strategy. The group is also setting up a goods and services tax (GST) compliant supply chain network to cater to the needs of retailers after the GST regime sets in. The network will include 12 million sq. ft. of built-to-suit warehousing space in nine big cities.
Future Group established in 1994 is one of India’s leading business houses with multiple businesses spanning the consumption space. While retail forms the core business activity, group subsidiaries are present in consumer finance, capital, insurance, leisure and entertainment, brand development, real estate development, retail media and logistics. In the lifestyle segment, the group operates Pantaloons, a fashion retail chain and Central, a chain of seamless malls. In the value segment, its marquee brand, Big Bazaar, is a hypermarket format that combines the look, touch and feel of Indian bazaars with the choice and convenience of modern retail.
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