FUTURE GROUP PERFORMANCE IN RETAIL INDUSTRY:
Future Group’s Pantaloon Retail India Limited (PRIL) is the leading retailer of the Indian organized industry with its presence in various retail formats from departmental stores to malls. Being a pioneer of the private labels business in the Indian retail, its labels have become renowned brands among consumer groups. PRIL had introduced private labels in almost every product category across its various stores. The case study focuses on the status of the private labels business of PRIL while competing with the branded products. It also focuses on the growth and expansion strategies of the company’s private labels. Finally, looking at the growth of PRIL, assess the future challenges for the retailers in the Indian retail industry.
Pantaloon Retail India, the country's top listed retailer, has launched small and large stores and the group is exploring deals with foreign partners to take on growing competition. The group is looking at joint venture opportunities with foreign firms in the business-to-business segment, similar to the one it has with US office supplies retailer Staples. Burger King Holdings has said it was in talks with Pantaloon and other Indian firms. Starbucks Corp, which said it open its application to enter India, has also been reported to be interested in a franchise deal with Pantaloon Retail.
India’s leading retail conglomerate 'Future group' targets a turnover of $3 billion by 2011 from the current $2 billion. They expect about 55 percent of this total targeted revenue ($3 billion) would come from our entire retail operations. They are also expected to increase the total space from the current 14 million sq. ft to 17 million sq ft by the same corresponding period. They are also talking to work with the Indian Railways. Deals with Indian Railways didn’t materialize. Foreign single-brand retailers are allowed to take up to 51% in a JV with an Indian partner, while multiple-brand retailers are limited to operating through cash-and-carry and franchise deals.
Other ventures include:
Future group and British footwear retailer Clarks will form a joint venture to promote the Clarks brand in India.
Tata Teleservices Ltd (TTSL), the country's sixth largest mobile operator, entered into a franchise agreement with the Kishore Biyani-led Future Group to offer GSM mobile services under a new brand, T-24. Starting with the telecom circles in south India