Speaking to CNBC-TV18, Kishore Biyani said that the Future Consumer, a part of the Future group is eyeing a growth target of more than 80 percent.
Future Group is gearing up to launch a slew of new products and categories in the next year, according to CEO Kishore Biyani.Speaking to CNBC-TV18 he said that the Future Consumer, a part of the Future group is eyeing a growth target of more than 80 percent.
Below is the transcript of Kishore Biyani's interview to Priya Sheth on CNBC-TV18.
Q: What are you expansion plans from here on?
A: Our store count is to take up the small stores, 2,000 stores, Big Bazaar, there will be another 30 store additions. So there is a geographical expansion, there are various joint ventures which are happening, there are a lot of new products which are launching. So, a lot of sales growth will also come out of new stores which are expanding. Plus we have opened up all our brands in to March distribution into general trade also with Tasty Treat as a brand, Kosh as a brand, Kara as a brand, Nilgiri is in the south. So, there are multiple brands now being sold in multiple outlets. And we hope that by next year, some of our brands will start reaching 2,00,000 outlets.
Q: In terms of growth, how do you see the next financial year panning out, because in this financial year, we did see a bit of muted growth because of the whole demonetisation phase, but going ahead, do you think that growth numbers will bounce back, what is the kind of growth target that you are working with?
A: We are still talking of 20 percent plus growth happening last quarter also, so growth is not muted down as much as one says. But we believe the growth can be much higher next year.
Q: What is the target that you are working with?
A: Every company has their own targets, but I can talk about Future Consumer which is looking at more than 80 percent kind of growth.
Q: And in terms of the larger revenue matrix, you have an ambitious roadmap in terms of revenues. Do you still stick by that target or have you increased it because we have seen the kind of spending that has also increased with the kind of cards and the kind of digital payments that have come in.
A: What we are talking is, as a group, we were talking of 4,000 stores by 2020. We are now looking at a model where it can be increased to maybe another 5,000-6,000 plus kind of stores. So, that is one area where we are looking at increasing our numbers.