Company type | Private |
---|---|
Industry | Conglomerate |
Founded | 2013 |
Founder | Kishore Biyani |
Defunct | 2022 |
Fate | Acquired by Reliance Industries |
Headquarters | Mumbai, Maharashtra, India |
Products | |
Number of employees | 50,000 |
Divisions |
|
Website | www |
Future Group was an Indian conglomerate, founded by Kishore Biyani [1] and based in Mumbai. The company is known in Indian retail and fashion sectors, operating supermarket chains Big Bazaar and Food Bazaar, lifestyle stores Brand Factory and Central, integrated foods and FMCG manufacturing sectors. Future Retail Limited and Future Lifestyle Fashions Limited are two operating companies whose assets are among the top retail companies listed in BSE, [2] with market capitalization among the highest on the National Stock Exchange of India. [3]
Nearly all of its businesses are managed through sector-focused operating companies. [Primary 1]
The group promotes its fashion and sports brands Indigo Nation, Spalding, Lombard, and Bare, and FMCG brands Tasty Treat, Fresh & Pure, Clean Mate, Ektaa, Premium Harvest, Sach. [Primary 1] Other operating companies address internal financial matters and consulting. [4] The company is attempting to reduce debt to avoid insolvency, according to industry sources. [5]
In May 2012, Future Group announced a 50.1% stake sale of its fashion chain Pantaloons to Aditya Birla Group in order to reduce its debt of around ₹8,000 crore (equivalent to ₹150 billionorUS$1.8 billion in 2023). [6] To do so, the Pantaloons fashion segment was demerged from Pantaloons Retail India Ltd, which was then merged into subsidiary Future Value Retail Ltd and later renamed Future Retail Ltd. [7]
On 21 November 2014, Future Consumer Enterprises Limited acquired 98% of Nilgris from Actis Capital and other promoters. With that, Nilgiris is a wholly-owned subsidiary of Future Consumer Enterprises Limited (FCEL).
In May 2015, Future Group acquired Bharti Retail in a deal worth around ₹500 crore (equivalent to ₹755 croreorUS$90 million in 2023). [8] Bharti Retail operated 216 convenience stores, supermarkets and hypermarkets under the brand name Easyday. [9] Following the acquisition, Bharti Enterprises received 9% stakes in Future Retail Limited (manages retail operations) and Future Enterprises Limited (manages infrastructure, investments and assets). [10]
In August 2019, Amazon acquired a 49% stake in Future Coupons, and indirectly obtained a 3.5% minority stake in Future Retail, ahead of an option to buy all or part of the promoters' holding in the company. [11]
In August 2020, it was announced that Reliance Retail had reached an agreement with Future Group to acquire the latter's retail and wholesale businesses and its logistics and warehousing businesses for $3.4 billion. [12] [13]
The merger between Reliance Retail and Future Group was halted in October 2020, after Amazon filed a plea in the High Court for enforcement of EA awarded by the Singapore International Arbitration Center. In August 2021, the Supreme Court of India upheld Amazon's plea to restrain the merger. [14] In December 2021, the CCI withdrew its approval for Amazon's acquisition of a minority stake in Future Coupons, stating that Amazon had misled the regulator about the purpose of its investment in the Future Group company. [15]
Source: [Primary 3]
FabFurnish was launched as an online retailer of furniture, décor, and home appliances in March 2012 by Vikram Chopra,[1] Mehul Agrawal, and Vaibhav Aggarwal.[2] The company was headquartered in Gurgaon, NCR.
In July 2015, the brand announced a strategic restructuring, introducing Ashish Garg and Ankita Dabas as the new leaders. In April 2016, FabFurnish became a Future Group company.[3][4] On 13 April 2017, the Times of India reported that Future Group was likely to close FabFurnish.[5]
Generali is an Italian insurance company, operating in India through a joint venture with Future Group under the brand name Future Generali Insurance. Future Generali operates in India via two Generali India Life Insurance Co. Ltd. (Life Insurance) and Generali India Insurance Co. Ltd. (Non-Life Insurance).[Primary 1]
Staples Inc., a United States–based office supply retailer, has a presence in over nine cities in India under a joint venture with Future Group.[Primary 2][7] As of April 2013, Future Group had a 60% stake in the partnership.[8]
Skechers entered India through a JV with Future Group in 2012. Skechers ended the joint venture in February 2019 by buying 49% them out.[9]
French fashion Celio entered India in 2008 through a 50:50 joint venture with Future Group's then retail hand, Pantaloons Retail India Ltd (now Future Retail Ltd).[10] In November 2013, Celio hiked its stake in the joint venture to 65%.[11]
C&J Clark International Ltd. is a UK-based footwear and accessories retailer. Future Group entered into a 50:50 joint venture to form 'Clarks Future Footwear Ltd'. The JV launched its first (1,600 sq ft.) stand-alone store in Connaught Place, Delhi on 19 April 2011.[12]
These are the brands of Future Retail:
Reliance Industries Limited is an Indian multinational conglomerate headquartered in Mumbai, India. Its businesses include energy, petrochemicals, natural gas, retail, entertainment, telecommunications, mass media, and textiles. Reliance is the largest public company in India by market capitalisation and revenue, and the 100th largest company worldwide. It is India's largest private tax payer and largest exporter, accounting for 7% of India's total merchandise exports. The company's motto is Growth is Life.
Aditya Birla Group is an Indian multinational conglomerate, headquartered in Mumbai. The group's business interests include metals, cement, fashion and retail, financial services, renewables, fibre, textiles, chemicals, real estate, trading, mining, and entertainment. The group has a presence in 36 nations and a combined annual revenue of US$62 billion, over 50% of which is derived from its overseas operations.
Titan Company Limited is an Indian company that mainly manufactures fashion accessories such as jewellery, watches and eyewear. Part of the Tata Group and started as a joint venture with TIDCO, the company has its corporate headquarters in Electronic City, Bangalore, and registered office in Hosur, Tamil Nadu.
Kotak Mahindra Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. As of December 2023, the bank has 1,869 branches and 3,239 ATMs, including branches in GIFT City and DIFC (Dubai).
Kumar Mangalam Birla is an Indian billionaire industrialist, philanthropist, and the chairman of the Aditya Birla Group, one of the largest conglomerates in India. He is the chancellor of the Birla Institute of Technology & Science, Pilani and ex-chairman of Indian Institute of Management Ahmedabad. According to Forbes, he has an estimated net worth of US$23 billion, as of March 2024 making him the 6th richest person in India.
Trent Limited is an Indian retail company, which is part of the Tata Group and based in Mumbai. Started in 1998, Trent owns and operates fashion and lifestyle retail formats such as Westside, Zudio and Utsa. The company also runs retail chains like Star Bazaar and Zara through joint ventures.
Aditya Birla Fashion and Retail Limited (ABFRL) is an Indian fashion retail company headquartered in Mumbai. It emerged after the consolidation of the branded apparel businesses of Aditya Birla Group, comprising ABNL's Madura Fashion division and ABNL's subsidiaries Pantaloons Fashion and Retail (PFRL) and Madura Fashion & Lifestyle (MFL), in May 2015. Post consolidation, PFRL was renamed Aditya Birla Fashion and Retail Ltd.
Bharti Airtel Limited is an Indian multinational telecommunications services company based in New Delhi. It operates in 18 countries across South Asia and Africa, as well as the Channel Islands. Currently, Airtel provides 5G, 4G and LTE Advanced services throughout India. Currently offered services include fixed-line broadband, and voice services depending upon the country of operation. Airtel had also rolled out its Voice over LTE (VoLTE) technology across all Indian telecom circles. It is the second largest mobile network operator in India and the second largest mobile network operator in the world. Airtel was named India's 2nd most valuable brand in the first ever Brandz ranking by Millward Brown and WPP plc.
Bharti Enterprises Limited is an Indian multinational conglomerate, headquartered in Delhi. It was founded in 1976 by Sunil Bharti Mittal. Bharti Enterprises owns businesses spanning across telecommunications, manufacturing, insurance, real estate, hospitality, and food. The group's flagship company, Bharti Airtel, is a telecom service provider with operations in more than 18 countries across Asia, Africa and Europe. The company ranks amongst the top two mobile network operators globally by number of subscribers.
ICICI Lombard General Insurance Company Limited is a general insurance company located in India. ICICI is engaged with general insurance, reinsurance, insurance claims management and investment management.
HyperCity was a supermarket chain which operates 20 stores throughout India as of today. The main area of focus is food, home, and fashion.
Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries. Founded in 2006, it is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement products, electronic goods, and farm implements and inputs. As of 2023, it has over 245,000 employees at 18,000 store locations in 7,000 towns. Apart from physical stores, the company also sells products on its e-commerce channels.
Kishore Biyani is an Indian businessman who is the Founder & CEO of Future Group, one of India's biggest brick-and-mortar retailers. He is also the founder of retail businesses such as Pantaloon Retail and Big Bazaar.
Snapdeal is an Indian e-commerce company, based in New Delhi, India. It was founded in February 2010 by Kunal Bahl and Rohit Bansal.
Arvind Limited is an Indian textile manufacturer and the flagship company of the Lalbhai Group. Its headquarters are in Naroda, Ahmedabad, Gujarat, India, and it has units at Santej. The company manufactures cotton shirting, denim, knits and bottomweight (khaki) fabrics. It had also recently ventured into technical textiles with its Advanced Materials Division in 2011. The company is India's largest denim manufacturer.
Biba Apparels is an Indian fashion brand for women and girls founded by Meena Bindra in 1988 in New Delhi. It has more than 150 brand outlets and 225 multi-brand outlets. Biba recorded sales of INR 600 crore in 2014-15.
Reliance Smart Bazaar, formerly known as Big Bazaar, is an Indian retail chain of hypermarkets, discount department stores, and grocery stores. The retail chain was founded by Kishore Biyani under his parent organisation Future Group, which is known for having a significant prominence in Indian retail and fashion sectors. Big Bazaar is also the parent chain of Food Bazaar, Fashion at Big Bazaar and eZone where at locations it houses all under one roof, while it is sister chain of retail outlets like Brand Factory, Home Town, Central, eZone, etc.
Future Generali India Insurance (FGII) Company Limited is a private general insurance company in India. The company is a joint venture between the Future Group and Generali Participations Netherlands N.V.. As of 2022, Generali Group it is the largest insurance company in Italy and ranks among the world's largest insurance companies by net premiums and assets. The company's portfolio comprises insurance products categorised within Personal, Commercial and Social/Rural Insurance.
SBI General Insurance Company Limited is a general insurance company founded in 2009. It started operations in 2010 and is headquartered in Mumbai, India.
Future Generali India Life Insurance Company Limited (FGILI) is an Indian publicly held life insurance company headquartered in Mumbai, India. It is a joint venture between Generali Group, an Italian insurance company based in Trieste, and Future Group, an Indian conglomerate, founded by Kishore Biyani and based in Mumbai. FGILI has operations in over 1,100 locations across India.