Biyani stated that the group has been doing double digits, and should be able to maintain that for the whole year.
Rakesh Biyani, joint MD of Future Retail, spoke to CNBC-TV18 about the demand in the consumer-driven retail space and the company's business plans.
“For us, the Dussehra market, which is the large market in many parts of the country, has gone up quite well. The numbers have been very strong, good double digit growth across several categories. So the demand is good. The early trends around Diwali also are looking quite promising. I think the demand is in same line as last year. Last year also the growth were quite robust and to continue maintain that kind of a growth on top of that number is an encouraging number,” said Biyani on Friday.
“If you look at the early trend, the numbers are looking quite good and we should be in line with the forecast that we have shared. We have been doing our double digits and we should be able to maintain that for the whole year,” he said.
“Market is very large and it is a growing market. So there is space for many more retailers and what we are seeing today is that as more retailers come in, the numbers continue to be strong for everybody. It is not that one is replacing the other, everybody is looking at larger share in the growing market which is what India is offering, so all of us are working towards building a unique product proposition and trying to attract customers and footfalls and there is quite a lot of them who are there in market place,” said Biyani.
“We were looking at adding about 20 plus odd Big Bazaars this year, we are on track,” he added.(Source: CNBC TV 18)