Weekly sales jumping post Patanjali products entry: Future Group

Oxigen Wallet is going to partner with Big Bazaar Direct to grow assisted e-commerce, says Kishore Biyani, founder and chief executive officer (CEO) of Future Group.Speaking to CNBC-TV18, Biyani says Oxigen's franchisees will assist Big Bazaar Direct's retailers and he expects 10,000 franchisees to be live in the next 12 months post tie-up.While the company saw growth of 25 percent in Big Bazaar business last quarter, its store sales are jumping weekly due to the advent of Patanjali products, he adds.Below is the verbatim transcript of Kishore Biyani\\'s interview with Priya Sheth on CNBC-TV18.Q: What kind of revenues are you expecting through the tie-ups and what is your reach in terms of franchises planned?A: Oxigen, like we discussed, has many franchises all over the country. We believe out of this, we are offering everybody to become a part of whoever qualifies to become a part of the direct franchise network. We expect 10,000 franchises to be live in the next 12 months or so. We have around 300 franchises already signed up on this. So it depends on how you run this programme, how profitable it is for the franchise but we believe 10,000 out of 200,000 is not a very ambitious target. Every franchise which will be very active can do a business of around Rs 20 lakhs a year.Q: What is the kind of overall business that you expect from this?A: It is a significant business, which can happen but it is a journey which has to be happening. It won\\'t happen every day, it is an acquisition of franchise, it is a business, it is a product which you have to bring in. Long-term yes, it can be a very big business.Q: You said that you may look at exploring many such other tie-ups, so run us through those, what is in the offing?A: I cannot discuss and disclose that but there are other networks, which are specific to certain states and soon we will be working with one more state wherein they have a group of franchises, agents which can become our agents also.Q: This would be resulted in a Pan India distribution kind of model that you are foreseeing?A: We have a vision that we have to be present in all pin codes of India and there has to be somebody representing us and this will help us to do that.Q: This in a sense that you are growing your omnichannel pie that you have been talking about, how significant will be the omnichannel pie as compared to the overall retail framework?A: It is a journey to be very honest. We are going to look at multichannel option because since we have built supply chain, we have built the brand, we have built the product capabilities, we will be the biggest sourcing hub in the country, now it is all about delivering it as widespread as possible in terms of geography terms.