Future Group dresses up retail biz with home decor store

Kishore Biyani-promoted Future Group today launched its home decor chain 'Home Town', with the first store at Noida offering homemakers everything that they need to dress up the house.
The store, launched by Future Group's Home Solutions Ltd at an investment of Rs 20 crore, is the first of nine such outlets planned by the company in cities like Ahmedabad, Bangalore, Gurgaon, Hyderabad, Kolkata and Lucknow. Each of these speciality store, aimed at luring Indians to spend a portion of their rising incomes in home decor, would yield an annual revenue of Rs 200-300 crore, hoped Future Group CEO Kishore Biyani. He told reporters here that the remaining eight 'Home Town' stores would be operational in the next 15 months. The stores offer everything from stainless steel to silver cutlery and curtains to furnitures at affordable rates, with a view to encouraging middle-class spending in home decor that was hitherto the preserve of the elite. For items that may steal the heart but hurt the pocket, Future Money, the group's in-house lending arm, would extend credit to customers for various purchases.
The Group also has presence in other segments of organised retail through stores like Big Bazar.

Courtesy: EconomicTimes
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