Future Group Gives Ecommerce Another Shot, Takes Brand Factory Online

Future Group Gives Ecommerce Another Shot, Takes Brand Factory Online

SUMMARY

Brand Factory is a fashion retail discount chain owned by operated by Future Group

This will be the company’s second attempt in the ecommerce space

It earlier shut down its online furniture store FabFurnish due to heavy losses

Kishore Biyani-led, Future Group will reportedly launch a website for its fashion retail discount chain Brand Factory in February 2019.

According to reports, Kishore Biyani had said that brandfactory.in would be the biggest launch for the company. This will be the company’s second attempt to enter the ecommerce space.

In 2017 Future Group had to shut down the operations of its online furniture store, FabFurnish, which it had acquired from a Germany-based internet company Rocket Internet.

Due to heavy losses, the group was forced to close Fabfurninsh. However, Biyani said that the losses were “compensated” as they learnt from the experience.

Future Retail is currently in advanced talks with US ecommerce company Amazon to sell a 9.5% stake in the company.

Biyani along with his family owns 46.51% stake in Future Retail which operates brands such as  BigBazaar, EasyDay, and Niligiris. The group has been seeking to enter into an alliance with the Amazon since January after Biyani met founder Jeff Bezos at his Seattle headquarters.

Currently, the company has a total retail space of 13.6 Mn sq ft through 1,030 stores which are present across 255 cities.

The group has also said to be keen on Amazon’s business tactics as the group has reportedly launched its grocery delivery app to strengthen its presence in the market.  

The company has clocked in a revenue of $2.6 Bn (INR 18,478 Cr), according to its annual report 2017-18.

[The development was reported by ET]

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
UNLOCK 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
UNLOCK 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Future Group Gives Ecommerce Another Shot, Takes Brand Factory Online-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Future Group Gives Ecommerce Another Shot, Takes Brand Factory Online-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Future Group Gives Ecommerce Another Shot, Takes Brand Factory Online-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Future Group Gives Ecommerce Another Shot, Takes Brand Factory Online-Inc42 Media
Future Group Gives Ecommerce Another Shot, Takes Brand Factory Online-Inc42 Media
You’re in Good company