Future Brands to revamp private labels

New Delhi April 23 Future Group — promoters of retail chains Big Bazaar and Pantaloon — is in the process of setting up a wholly owned subsidiary, Future Brands, which will recreate and revamp its private labels as conventional brands, besides providing brand consultancy services.
"Under Future Brands, we will be revamping and marketing some of our private label products to position them as any of the other existing brands in a conventional and a traditional sense in the market," said Mr Santosh Desai, Managing Director and CEO, Future Brands. "We are currently looking at revamping seven to eight of our private labels across categories like apparels, consumer durables and FMCG through widespread awareness and by creating equity for them," he added.

"Through this vertical we will also be providing brand consultancy services for other players across segments like FMCG, consumer electronics and lifestyle amongst others — both at the consumer and brand definition level," Mr Desai said.
The company is already in talks with three `blue chip' companies. "Though we are just starting off, operations from the consultancy services will start contributing significant revenues to the Group after six months," he added.

Meanwhile, Future Group plans to invest about Rs 4,000 crore over the next year for the expansion of its different retail formats. The Group will increase the number of Big Bazaars from 50 to 100 by next year and add eight more outlets of its home solution format, HomeTown. It has also planned to build 12 new malls under its Central and Brand Factory formats. The Group targets a turnover of Rs 30,000 crore by 2010-11.