The fluctuating and dynamic scenario of Indian commerce does not stay back from creating narratives that permanently stay in both the minds of the upcoming entrepreneurs and all mature people of the industry and the chronicle story of Future Group is one of those noteworthy stories. Inaugurated by the visionary Kishore Biyani, this corporate Inc has created disruptive ideas and these innovative strategies in its business framework helped it to go beyond traditional retailing including future thinking and realistic resoluteness.
| Table Of Contents |
| Introduction |
| Future Group: Company Highlights |
| Future Group Success Story: Overview |
| Future Group Success Story: Startup Journey |
| Future Group Success Story: Business Model |
| Future Group: Product Strategy Overview |
| Future Group: Promotion & Advertising Strategy |
| Future Group Success Story: Challenges and Resilience |
| Future Group Success Story: Future Plans |
| Future Group Success Story: Epilogue |
| Joint Venture Partners |
| Partnerships with other companies |
| Future Group Competitors |
| Conclusion |
Source: Leader Biography
Future Group: Company Highlights
| Category | Information |
| Startup Name | Future Group |
| Headquarters | Mumbai, Maharashtra, India |
| Industry | Conglomerate |
| Founders | Kishore Biyani |
| Founded | 1987 |
| Products/Services | Retailing, Insurance, Logistics, Integrated foods, FMCG |
Future Group Success Story: Overview
Future Group is a huge and well-known Indian conglomerate which operates in the Indian market of fashion and retail. Here, there is Big Bazaar, the first among the supermarkets, and Brand Factory, a renowned lifestyle boutique. Besides, the company as well has a robust industry with its roots in FMCG and food manufacturing sector.
For multi businesses, future group manages its diverse operations through a number of entities configured for the specific industries each of its business belongs to. Next, Future Retail Limited, the retail subsidiary, has the job of controlling and managing supermarket and hypermarket stores like Big Bazaar (as per the current ownership by the Reliance Group), FBB, Food Hall and Food Bazaar to name a few.
The management of its clothing and fashion stores under the brand of Central, Brand Factory and Planet Sport is taken care of by another subsidiary being Future Lifestyle Fashions Limited. Moreover, the company sells its furniture through its traditional HomeTown stores nationally and through online platforms for out-of-stock and special-order products.
Future Group Success Story: Startup Journey
Source: Mint
Kishore Biyani is the founder of Future Group, a CEO of the group who had previously made his career in the fabric-trading firm ‘Bansi Silk Mills’ which was owned by his father, brothers and two elder cousins. On the other hand, he gave a fair hearing to himself on the tactical and business side of the enterprise. As a younger boy witnessing the craze for “stone – washed” cloth pants among his buddies, he identified the gap in the market and the opportunity for catering to this small but obvious segment.
His entrepreneurial breakthrough was when he came across and found out from a local fabric supplier who made a specific type of fabric which was in high demand or, rather, a fabric maker who had a special kind of fabric that was in shortage. Following that in 1983 he founded his enterprise, the area of the manufacturing and delivering of the modern and trendy fabric to the manufacturers of garments.
One of the notable developments in the entrepreneurial journey of Kishore was in 1992 where he managed to inject capital into the enterprise through a public offer of its 60 percent shares in the share market of the country. This step-by-step approach, through the improvement of retail infrastructure, activity of expansion and promotion, was the key factor of the strategic formulation. By 1994 the figure of 9 mln rupees was the entire revenue already achieved.
The opening of the first department store in Kolkata, the Kalyan Colony Mall, in August 1997 was signified by a milestone in Biyani’s retail career. Initially, leasing and refurbishing a 10,000 square foot space, he carved a clear point on the growth track that prevented operations from having a breathing space of only three weeks during which he would set up two other stores in the market, achieving the expansion targets ahead of the deadline. After the advent of Big Bazaar in 2001, the chain saw an exponential growth in network till 1000 outlets were marked across the archipelago by the year 2009.
Future Group Success Story: Business Model
With a flipped model of multi-brand retail commerce, Future Group stands out. The group of organizations has more than 20 small hypermarkets and over 200 supermarkets that are running under the easyday brand. This indicates the widespread company’s presence in the sub sector.
Within its portfolio, the company operates under two predominant retail models: value shop and shop at home.
At the value business model, the consumer revenue channels are carrying an ample of entities of retail business namely: Food Bazaar (supermarket), Big Bazaar (hypermarket), Food Hall (supermarket), FBB (fashion destination) and Easyday convenience stores. Furthermore, the company has its Home business segment which comprises eZone electronics and consumer durables superstore store as well as Hometown that is a multi-format space for satisfying various needs of home improvement.
Future Group : Product Strategy Overview
The product strategy and assortment within Future Group’s marketing framework are delineated as follows:
The retail segment in which Future Group is India’s biggest player is among the super majors in that country. Emblematic of its wide retail genre, Future Group has one of the most formidable footprints in Indian retailing space. Significantly, its hyervisa-mart format Sector Big Bazaar is included in the top three service brands in India. Besides the Modern Big Bazaar, Future Group governs many retail chains such as Central, that is the departmental store chain, Brand Factory, the outlet store chain, Home Town and E Zone that cater the home improvement and consumer durable markets and Planet Sports, the sport wears that are specialized stores. Among such entities, the corporation’s cumulative activity in the product strategy would inevitably be within the retail market.
The retail stores that cover hypermarkets and supermarkets including BIG BAZAAR, FOOD BAZAAR, fbb, FOODHALL, KB’s Conveniently Yours, and subsequently, EASYDAY, are entities under Future Retail Ltd. , while CENTRAL, BRAND FACTORY, and PLANET SPORTS are distinct from the purview of Future
Besides its retail activities, Future Group has extended its services up to the last mile through Future Supply Chain Solutions Ltd. to all the regions of India. Furthermore, there is a constant demand from leading businesses for solutions to supply chain problems. Moreover, the group has a subsidiary brand called Future Capital which is principally financial services-oriented.
As a key player in the FMCG sector, the company’s product line consists of over 21 products out of which ranges from frozen vegetables to juices, oats, and personal care items.
Future Group : Promotion & Advertising Strategy
The promotional and advertising strategy within the Future Group’s marketing framework is structured as follows:
Throughout its service, Futurex Group has aired a variety of ad campaigns like the Great Indian Home Festival and Maha Bachat. Such campaigns usually push for celebrity endorsement from high profile individuals like Varun Dhawan, M S Dhoni, Katrina Kaif, and Asin.
Furthermore, the company has formed partnerships with a number of actors like Sachin Tendulkar’s brand Sach for which is known as Sach. Digital marketing and multimedia campaigns coaching in the digital medium, Future Group utilizes these resources to increase the interactions and involvements.
Big Bazaar is taking a sales-oriented approach in its marketing attempts. Consumers are clearly targeted, as the product assortment is first and foremost, and this is reflected in all communication visible on the website, including buy one get one free offers. Shoppers inside the store would definitely be able to avail themselves of the services of the sales assistants.
After the creative settings of Future Group’s casual wear brand, DJ&C, made by Pickles, there comes into picture banners and posters as well. However, there may also be a leeway of Rs. In the past 8 to 10 crores of money is utilised to increase the marketing routines for the same brand.
Future Group Success Story: Challenges and Resilience
However, there isn’t a single voyage of success that won’t require its fair portion of complicated moments, and it was no different with the Future Group. Starting from also-navigating the intricacies of India’s commercial laws to stand face to face with e-commerce biggies, Kishore Biyani and his men encountered miltiple challenges.
Through an unwavering spirit for innovation, an adaptability for change and a broad willingness to shift strategies and modify the company’s business model, the Future Group has proven to be resilient and has maintained its status as a leader in the industry.
Future Group Success Story: Future Plans
As a part of the grand narrative of Indian business, they have been there since the beginning of all times bringing new opportunities to remain afloat by continuous growth and expansion. As a leading domestic frontrunner, the group has shown a determination to remain number one in the local market. Furthermore, it has cast its eyes on new areas of influence, expanding its objectives infinitely.
Driven by the vision of Kishore Biyani and the next generation of leaders, the Future Group is poised to leverage emerging technologies, such as artificial intelligence, augmented reality, and the Internet of Things, to redefine the retail experience once again. From immersive virtual storefronts to personalized recommendations powered by advanced analytics, the group’s commitment to innovation promises to reshape the industry’s landscape.
Additionally, Future Group’s growth imperatives are translating into pan global interests, as strategic partnerships and international forays are also being designed for implementation. The push of its household success abroad will be powered by the group’s experience and an already established brand equity. Customer-centricity and innovation, the group’s main distinguishing qualities, will always accompany it on new shores.
Future Group Success Story: Epilogue
The Future Group has made it quite evident that no matter how dire a situation may be, if perseverance, innovative thinking and dedication to the best are coupled together all hurdles come down. From the simplistic storefront to the powerhouse name in trade, the growth story is a case in point for dreamers and successful personalities who have an eye on business.
As the group continues to chart new territories, one thing remains certain: the legacy of the Future Group stands unbounded and is strong enough to last forever in the pages of business history in India as a glittering star that can be born when vision, purposefulness and intention to meet the customers’ expectations on top of all good things converge.
| Joint Venture Partner |
| Generali Group |
| Celio |
| Clark |
| Staples Inc |
| FabFurnish |
| Skechers |
Future Group Competitors
| Future Group Competitors |
| 1. DMart |
| 2. More Retail |
| 3. Spencer’s Retail Limited |
| 4. Bigbasket |
| 5. Reliance Retail |
| 6. Star Market |
| 7. Nature’s Basket |
| 8. Mahindra |
| 9. Hypercity |
| 10. Peppertap |
Conclusion
In conclusion, the dynamic landscape of Indian commerce is rife with narratives that leave a lasting impression on both budding entrepreneurs and seasoned industry veterans, and the chronicle of Future Group is one such noteworthy tale. Founded by the visionary Kishore Biyani, this corporate juggernaut has pioneered disruptive ideas, leveraging innovative strategies within its business framework to transcend traditional retail paradigms.
This journey towards outstanding milestones transcends mere financial achievements; it embodies the pillars of courage, ambition, and unwavering determination. Future Group, a behemoth in the Indian conglomerate scene, operates across various sectors, with a robust presence in fashion, retail, FMCG, and food manufacturing.
