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{{Short description|Indian conglomerate company}}
{{Use Indian English|date=February 2016}}
{{Use Indian English|date=February 2016}}
{{Use dmy dates|date=February 2016}}
{{Use dmy dates|date=February 2016}}
{{Infobox company
{{Infobox company
|logo = [[File:Future Group (logo).jpg|200px|Future Group Logo]]
| name = Future Group
|name = Future Group
| logo = Future Group Logo.png
| logo_size = 250px
|type = [[Privately held company|Private]]
| type = [[Privately held company|Private]]
|founder = [[Kishore Biyani]] (CEO)
| founder = [[Kishore Biyani]]
|location = [[Mumbai]], [[Maharashtra]], [[India]]
| founded = {{Start date and age|2013}}
|num_employees = 35,000<ref>[http://www.futuregroup.in/about-us/about-group.html Official Website]</ref>
| defunct = {{End date and age|2022}}
|net_income = {{INR Convert|200.6018|b}} as of March 2013 <ref>{{cite web|url=http://www.futuregroup.in/pdf/Futureventure_Annual_Report_FY_2012_13.pdf |title=Annual Report 2013 |format=PDF |date= |accessdate=2014-07-25}}</ref>
| fate = Acquired by [[Reliance Industries]]
|industry = [[retailing]], [[insurance]], [[logistics]], [[Mass media|media]]
| location = [[Mumbai, Maharashtra]], India
|products = Integrated foods and other [[Fast-moving consumer goods|FMCG]]s
|
|services = Supermarkets, hypermarkets, discount stores, insurance, logistics, media
| num_employees = 50,000
|divisions = Future Retail Ltd.({{BSE|523574}},{{NSE|FRL}}), Future Lifestyle Fashion Ltd., Future Consumer Enterprise Ltd., Future Innoversity Ltd., Future Supply Chains Ltd., Future Brands Ltd., Future Capital Holdings Ltd.
| net_income =
|homepage = {{URL|http://www.futuregroup.in/}}{{URL|http://www.futurebazaar.com/}}
| industry = [[Conglomerate (company)|Conglomerate]]
| products = {{plainlist|
*[[Retailing]]
*[[Insurance]]
*[[Logistics]]
*Integrated foods
*[[Fast-moving consumer goods|FMCG]] }}
| services =
| divisions = {{plainlist|
*[[Brand Factory]]
*Future Retail Limited
*Future Lifestyle Fashion Limited
*Future Consumer Enterprise Limited
*Future Innoversity Limited
*[[Future Supply Chains|Future Supply Chains Limited]]
*Future Brands Limited
*Future Capital Holdings Limited
*Future Style Lab
*[[Central (Department Store)|Central Mall]]
*Galaxy Cloud Kitchens
*[[HyperCity|HyperCity Retail India Ltd.]]
*[[Nilgiris 1905|Nilgiris]]
*Vulcan Express Private Limited
}}
}}
| homepage = {{URL|www.futuregroup.in}}
}}
'''Future Group''' was an Indian [[Conglomerate (company)|conglomerate]], founded by [[Kishore Biyani]]<ref>{{Cite web|last=Prime|first=E. T.|title=Kishore Biyani's Hamletian muddle: Will the Future Group founder walk his talk?|url=https://prime.economictimes.indiatimes.com/news/68088500/consumer/kishore-biyanis-hamletian-muddle-will-the-future-group-founder-walk-his-talk|access-date=2020-07-06|website=ET Prime|archive-date=6 July 2020|archive-url=https://web.archive.org/web/20200706225104/https://prime.economictimes.indiatimes.com/news/68088500/consumer/kishore-biyanis-hamletian-muddle-will-the-future-group-founder-walk-his-talk|url-status=live}}</ref> 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 (Hypermarket)|Central]], integrated foods and [[Fast-moving consumer goods|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 [[Bombay Stock Exchange|BSE]],<ref>{{cite web|title=Top Companies in BSE Retail segment by Total assets|url=http://www.moneycontrol.com/stocks/marketinfo/totassets/bse/retail.html|access-date=2014-07-25|publisher=Moneycontrol.com|archive-date=28 July 2014|archive-url=https://web.archive.org/web/20140728020509/http://www.moneycontrol.com/stocks/marketinfo/totassets/bse/retail.html|url-status=live}}</ref> with [[market capitalization]] among the highest on the [[National Stock Exchange of India]].<ref>{{cite web|title=Top Companies in NSE Retail segment by market cap|url=http://www.moneycontrol.com/stocks/marketinfo/marketcap/nse/retail.html|access-date=2014-07-25|publisher=Moneycontrol.com|archive-date=28 July 2014|archive-url=https://web.archive.org/web/20140728021309/http://www.moneycontrol.com/stocks/marketinfo/marketcap/nse/retail.html|url-status=live}}</ref>


Nearly all of its businesses are managed through sector-focused operating companies.<ref name="Company Businesses2" group="Primary">{{Cite web |url=http://www.futuregroup.in/businesses/retail-finance-services.html |title=Future Group Businesses as mentioned in its official website |access-date=23 November 2011 |archive-date=10 October 2018 |archive-url=https://web.archive.org/web/20181010063241/http://futuregroup.in/businesses/retail-finance-services.html |url-status=dead }}</ref>
'''Future Group''' is an Indian private [[Conglomerate (company)|conglomerate]], headquartered in [[Mumbai]]. The company is known for having a significant prominence in Indian retail and fashion sectors, with popular supermarket chains like [[Big Bazaar]] and Food Bazaar, lifestyle stores like Brand Factory, Central etc. and also for having notable presence in integrated foods and [[Fast-moving consumer goods|FMCG]] manufacturing sectors. '''Future Retail''' (initially Pantaloons Retail India Ltd (PRIL)) and '''Future Lifestyle Fashions''', two operating companies of Future Group, are among the top retail companies listed in [[Bombay Stock Exchange|BSE]] with respect to assets,<ref>{{cite web|url=http://www.moneycontrol.com/stocks/marketinfo/totassets/bse/retail.html |title=Top Companies in BSE Retail segment by Total assets |publisher=Moneycontrol.com |accessdate=2014-07-25}}</ref> and in [[National Stock Exchange of India|NSE]] with respect to [[market capitalization]].<ref>{{cite web|url=http://www.moneycontrol.com/stocks/marketinfo/marketcap/nse/retail.html |title=Top Companies in NSE Retail segment by market cap |publisher=Moneycontrol.com |accessdate=2014-07-25}}</ref>


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.<ref name="Company Businesses2" group="Primary"/> Other operating companies address internal financial matters and consulting.<ref>{{cite web|author=BSE|date=10 Jul 2014|title=Future Group Companies|url=http://profit.ndtv.com/stock/future-retail-ltd_pantaloonr/reports|access-date=2014-07-25|publisher=Profit.ndtv.com|archive-date=29 July 2014|archive-url=https://web.archive.org/web/20140729060626/http://profit.ndtv.com/stock/future-retail-ltd_pantaloonr/reports|url-status=dead}}</ref> The company is attempting to reduce debt to avoid insolvency, according to industry sources.<ref>{{Cite news |title=Future Enterprises to raise Rs 3,000 crore from insurance biz sale; aims to pare debt, avoid insolvency |work=The Economic Times |url=https://economictimes.indiatimes.com/industry/banking/finance/insure/future-enterprises-to-raise-rs-3000-cr-from-insurance-biz-sale-aims-to-pare-debt-avoid-insolvency/articleshow/91415753.cms |access-date=2022-05-09 |archive-date=9 May 2022 |archive-url=https://web.archive.org/web/20220509052836/https://economictimes.indiatimes.com/industry/banking/finance/insure/future-enterprises-to-raise-rs-3000-cr-from-insurance-biz-sale-aims-to-pare-debt-avoid-insolvency/articleshow/91415753.cms |url-status=live }}</ref>
On May 2012, Future Group announced 50.1% stake sale of its fashion chain [[Pantaloons Fashion & Retail|Pantaloons]] to [[Aditya Birla Group]] in order to reduce its debt of around {{INRConvert|80|b}}.<ref>{{cite news|author=Our Bureau |url=http://www.thehindubusinessline.com/companies/aditya-birla-novo-to-take-control-of-pantaloons-apparel-business/article3370466.ece |title=Aditya Birla Novo to take control of Pantaloon's apparel business |publisher=Thehindubusinessline.com |date=2012-04-30 |accessdate=2014-07-25}}</ref><ref>{{cite news|author=Suman Layak |url=http://businesstoday.intoday.in/story/future-group-aditya-birla-nuvo-deal/1/24720.html |title=Friendly Takeover |publisher=Business Today |date=2012-05-27 |accessdate=2014-07-25}}</ref> To do so, Pantaloons fashion segment was demerged from Pantaloons Retail India Ltd; the latter was then merged to another subsidiary—Future Value Retail Ltd—and rechristened '''Future Retail Ltd'''.<ref>{{cite news|url=http://articles.economictimes.indiatimes.com/2012-09-10/news/33737171_1_big-bazaar-pril-kb-s-fair-price |title=Future Value to be merged with Pantaloon Retail to cut operating cost |publisher=India Times |date=2012-09-10 |accessdate=2014-07-25}}</ref>


==Businesses==
== History ==
In May 2012, Future Group announced a 50.1% stake sale of its fashion chain [[Pantaloons Fashion & Retail|Pantaloons]] to [[Aditya Birla Group]] in order to reduce its debt of around {{INRConvert|8000|c|lk=|year=2012}}.<ref>{{cite news|author=Our Bureau|date=2012-04-30|title=Aditya Birla Novo to take control of Pantaloon's apparel business|publisher=Thehindubusinessline.com|url=http://www.thehindubusinessline.com/companies/aditya-birla-novo-to-take-control-of-pantaloons-apparel-business/article3370466.ece|access-date=2014-07-25|archive-date=24 January 2016|archive-url=https://web.archive.org/web/20160124145600/http://www.thehindubusinessline.com/companies/aditya-birla-novo-to-take-control-of-pantaloons-apparel-business/article3370466.ece|url-status=live}}</ref> To do so, the [[Pantaloons Fashion & Retail|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.<ref>{{cite news|date=2012-09-10|title=Future Value to be merged with Pantaloon Retail to cut operating cost|publisher=India Times|url=http://articles.economictimes.indiatimes.com/2012-09-10/news/33737171_1_big-bazaar-pril-kb-s-fair-price|access-date=2014-07-25|archive-date=12 August 2014|archive-url=https://web.archive.org/web/20140812200752/http://articles.economictimes.indiatimes.com/2012-09-10/news/33737171_1_big-bazaar-pril-kb-s-fair-price|url-status=dead}}</ref>
Future Group is a [[corporate group]] and nearly all of its businesses are managed through its various operating companies based on the target sectors.<ref name="Company Businesses">[http://www.futuregroup.in/businesses/retail-finance-services.html Future Group Businesses as mentioned in its official website]</ref> For e.g., retail supermarket/hypermarket chains [[Big Bazaar]], FBB, Food Bazaar, Food Hall, Hometown etc. are operated through its retail hand, Future Retail Ltd,<ref>[http://www.futuregroup.in/businesses/hypermarket_supermarket.html Future Retail Chains]</ref> while its fashion outlets [[Brand Factory]], [[Central (Hypermarket)|Central]], Planet Sports etc. are operated via another of its subsidiaries, Future Lifestyle Fashions.<ref>[http://www.futuregroup.in/businesses/lifestyle_fashion.html Future Fashion Chains]</ref> With these many fashion outlets and supermarket, the group also promotes respectively, its fashion brands like Indigo Nation, Spalding, Lombard, Bare etc., and FMCGs like Tasty Treat, Fresh & Pure, Clean Mate, Ektaa, Premium Harvest, Sach etc.<ref name="Company Businesses"/> It also has operating companies to cater specifically to internal financial matters and consulting within its group of companies.<ref>{{cite web|author=BSE |url=http://profit.ndtv.com/stock/future-retail-ltd_pantaloonr/reports |title=Future Group Companies |publisher=Profit.ndtv.com |date=10 Jul 2014 |accessdate=2014-07-25}}</ref>


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).
===Future Group's operating companies sorted by targeted markets<ref name="Company Businesses"/>===


In May 2015, Future Group acquired [[Bharti Enterprises#Bharti Retail|Bharti Retail]] in a deal worth around {{INRConvert|500|c|year=2015}}.<ref>{{Cite news |date=2015-05-05 |title=Kishore Biyani's Future group acquires Bharti Retail in an all-stock deal valued at Rs 500 crore |work=The Economic Times |url=https://economictimes.indiatimes.com/industry/services/retail/kishore-biyanis-future-group-acquires-bharti-retail-in-an-all-stock-deal-valued-at-rs-500-crore/articleshow/47148446.cms |access-date=2023-05-21 |issn=0013-0389 |archive-date=21 May 2023 |archive-url=https://web.archive.org/web/20230521232922/https://economictimes.indiatimes.com/industry/services/retail/kishore-biyanis-future-group-acquires-bharti-retail-in-an-all-stock-deal-valued-at-rs-500-crore/articleshow/47148446.cms |url-status=live }}</ref> Bharti Retail operated 216 convenience stores, supermarkets and hypermarkets under the brand name Easyday.<ref>{{Cite news |last=Mallet |first=Victor |last2=Kazmin |first2=Amy |date=2015-05-04 |title=Bharti Retail and Future Group to merge |work=Financial Times |url=https://www.ft.com/content/984d0c34-f25b-11e4-892a-00144feab7de |access-date=2023-05-21 |archive-date=21 May 2023 |archive-url=https://web.archive.org/web/20230521232922/https://www.ft.com/content/984d0c34-f25b-11e4-892a-00144feab7de |url-status=live }}</ref> Following the acquisition, [[Bharti Enterprises]] received 9% stakes in Future Retail Limited (manages retail operations) and Future Enterprises Limited (manages infrastructure, investments and assets).<ref>{{Cite web |date=2015-05-04 |title=Future Group's retail business to merge with Bharti Retail |url=https://www.deccanherald.com/content/475575/future-groups-retail-business-merge.html |access-date=2023-05-21 |website=Deccan Herald |language=en |archive-date=21 May 2023 |archive-url=https://web.archive.org/web/20230521232933/https://www.deccanherald.com/content/475575/future-groups-retail-business-merge.html |url-status=live }}</ref>
====Retail====

* Future Retail Ltd
In August 2019, [[Amazon (company)|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.<ref>{{cite news|title=Amazon to acquire 49% stake in Kishore Biyani's Future Coupons; to get a minority stake in Future Retail|language=en|work=Business Today|url=https://www.businesstoday.in/latest/corporate/story/amazon-49-pc-stake-kishore-biyani-future-coupons-minority-future-retail-225082-2019-08-23|access-date=27 December 2021|archive-date=27 December 2021|archive-url=https://web.archive.org/web/20211227083842/https://www.businesstoday.in/latest/corporate/story/amazon-49-pc-stake-kishore-biyani-future-coupons-minority-future-retail-225082-2019-08-23|url-status=live}}</ref>

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.<ref name=":02">{{Cite web|title=India's Reliance Retail to acquire Future Group's retail, wholesale, and logistics businesses for $3.4 billion|url=https://techcrunch.com/2020/08/29/indias-reliance-retail-to-acquire-future-groups-retail-wholesale-and-logistics-businesses-for-3-4-billion/|access-date=2020-08-29|website=TechCrunch|language=en-US}}</ref><ref>{{cite news |last1=Rai |first1=Saritha |last2=Sanjai |first2=P.R. |title=How Ambani Outfoxed Amazon in a $3.4 Billion Deal Dispute |url=https://www.bloomberg.com/news/articles/2022-03-09/how-ambani-outfoxed-amazon-in-a-3-4-billion-deal-dispute |access-date=21 June 2022 |work=[[Bloomberg News]] |date=9 March 2022 |language=en |archive-date=30 March 2022 |archive-url=https://web.archive.org/web/20220330025719/https://www.bloomberg.com/news/articles/2022-03-09/how-ambani-outfoxed-amazon-in-a-3-4-billion-deal-dispute |url-status=live }}</ref>

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.<ref>{{Cite web|title=Amazon wins Supreme Court case restraining merger between Future and Reliance|url=https://economictimes.indiatimes.com/industry/services/retail/future-reliance-deal-amazon-wins-supreme-court-case/articleshow/85091208.cms|website=TheEconomicTimes|language=en-US|access-date=1 October 2021|archive-date=25 September 2021|archive-url=https://web.archive.org/web/20210925042333/https://economictimes.indiatimes.com/industry/services/retail/future-reliance-deal-amazon-wins-supreme-court-case/articleshow/85091208.cms|url-status=live}}</ref> 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.<ref>{{cite news|date=23 December 2021|title=Explained: Why CCI withdrew approval for Amazon's investment in Future Group|language=en|work=The Indian Express|url=https://indianexpress.com/article/explained/explained-why-cci-withdrew-approval-for-amazons-investment-in-future-group-7678959/|access-date=27 December 2021|archive-date=27 December 2021|archive-url=https://web.archive.org/web/20211227085402/https://indianexpress.com/article/explained/explained-why-cci-withdrew-approval-for-amazons-investment-in-future-group-7678959/|url-status=live}}</ref>

==Operations and subsidiaries==
<ref name="Company Businesses" group="Primary">{{Cite web |url=http://www.futuregroup.in/businesses/retail-finance-services.html |title=Future Group Businesses as mentioned in its official website |access-date=23 November 2011 |archive-date=10 October 2018 |archive-url=https://web.archive.org/web/20181010063241/http://futuregroup.in/businesses/retail-finance-services.html |url-status=dead }}</ref>

===Retail===
* Future Retail Ltd<ref>{{Cite news|url=https://www.thehindu.com/news/cities/Hyderabad/Future-Group-to-steer-Heritage%E2%80%99s-retail-business/article16439512.ece|title=Future Group to steer Heritage's retail business|newspaper=The Hindu|date=8 November 2016|access-date=19 August 2020|language=en|archive-date=14 March 2024|archive-url=https://web.archive.org/web/20240314105654/https://www.thehindu.com/news/cities/Hyderabad/Future-Group-to-steer-Heritage%E2%80%99s-retail-business/article16439512.ece|url-status=live}}</ref>
* Future Lifestyle Fashion Ltd
* Future Lifestyle Fashion Ltd
* Future Consumer Enterprise Limited
* Future Consumer Limited<ref name="FutureConsumer" group="Primary"/>
* Future Enterprises Limited
* Swathi Tiffin Shop
* Foodhall


====Financial Services====
===Financial services===
* [[Future Capital Holdings]] (for internal financial services)
* [[Future Capital Holdings]] (for internal financial services)
* Future Generali Life Insurance
* [[Future Generali India Insurance|Future Generali India Life Insurance]]
* Future Generali General Insurance
* Future Generali General Insurance
* Future Ventures
* Future Ventures


====Other Services====
===Other services===
* Future Innoversity
* Future Innoversity
* Future Supply Chains
* Future Supply Chains
* Future Brands
* Future Brands
* Future Learning


==Brands==
===Future Group retail services sorted by operating companies<ref name="Company Businesses"/>===
===Future Retail Ltd.===

{{div-col}}
* Food Bazaar
<ref>{{Cite web|title=Fanzart partners with Future Group's HomeTown Stores|url=https://www.retail4growth.com/news/fanzart-partners-with-future-groups-hometown-stores-4478|access-date=2022-06-21|website=retail4growth.com|archive-date=16 April 2021|archive-url=https://web.archive.org/web/20210416212038/https://www.retail4growth.com/news/fanzart-partners-with-future-groups-hometown-stores-4478|url-status=live}}</ref>
* FBB (Fashion @ Big Bazaar)
* [[Big Bazaar]]
* HomeTown
* FBB (Fashion at Big Bazaar)
* [[Ezone|E Zone]]
* [[Central (Department Store)]]
* Foodhall
* [[Nilgiris 1905]]
* FutureBazaar.com (e-retailing)
* aLL (A Little Larger)
* Easyday
*[[Big Bazaar]]
* [[Easyday]]
* Heritage Fresh

* [[WHSmith]]
====Future Lifestyle Fashion Ltd====
* [[Central (Hypermarket)|Central]]
* [[Brand Factory]]
* [[Brand Factory]]
* [[Planet Sports]]
* [[7-Eleven]]
* Aadhaar Wholesale<ref>{{Cite news|url=http://www.thehindu.com/business/Big-Bazaar-to-invest-Rs.-600-crore-on-expansion/article16258263.ece|title=Big Bazaar to invest Rs. 600 crore on expansion|last=Reporter|first=Corporate|work=The Hindu|access-date=2017-02-26|language=en|archive-date=14 March 2024|archive-url=https://web.archive.org/web/20240314105711/https://www.thehindu.com/business/Big-Bazaar-to-invest-Rs.-600-crore-on-expansion/article16258263.ece|url-status=live}}</ref><ref>{{Cite news|url=https://www.livemint.com/Industry/ImeCeMhr1dyJi0ojyipjLL/Future-Retail-to-acquire-retail-and-allied-business-of-Herit.html|title=Future Retail buys Heritage Foods's retail business|last=pilla|first=vishwanath|work=Live Mint|access-date=2016-11-07|language=en|archive-date=8 May 2018|archive-url=https://web.archive.org/web/20180508185821/https://www.livemint.com/Industry/ImeCeMhr1dyJi0ojyipjLL/Future-Retail-to-acquire-retail-and-allied-business-of-Herit.html|url-status=live}}</ref>


{{div-col-end}}
====Future Consumer Enterprise Limited====
* KB's


===Products brands under Future Group in India<ref name="Company Businesses"/>===
=== Future Lifestyle Fashion Ltd ===
* Planet Sports
* I AM in


==Fashion and Lifestyle==
===Fashion and lifestyle===
{{div-col}}
* Indigo Nation
* Indigo Nation
* Scullers
* Scullers
Line 69: Line 111:
* All
* All
* Rig
* Rig
* Coverstory
* SPUNK
* DJ&C
* Buffalo
* Hey
* Bare
* Clarks
* Holii
* UMM
* Urban Yoga
* Jealous 21
{{div-col-end}}


===Integrated Foods and FMCG===
===Integrated foods and FMCG ===
Source:<ref name="FutureConsumer" group="Primary">{{Cite web|url=https://futureconsumer.in/|title=Future Consumer Limited|website=futureconsumer.in|access-date=2020-01-23|archive-date=2 December 2019|archive-url=https://web.archive.org/web/20191202095042/https://futureconsumer.in/|url-status=live}}</ref>

{{div-col}}
* Tasty Treat
* Tasty Treat
* Fresh & Pure
* Fresh & Pure
Line 80: Line 135:
* Punya
* Punya
* Sach
* Sach
* Kosh
* Sunkist
* Kara
* TS
* Clean mate
* Care mate
* Swiss tempelle
* Baker street
* Golden Harvest
* Prim
* Desi Atta Company
* Sangi's Kitchen
*Voom
*Dreamery
*Sensible Portions
*MYSST
*Puretta
*Veg Affaire
*Terra
*Mother Earth
*Karmiq
{{div-col-end}}


=== Joint ventures and associate companies ===
==Joint Venture Partnerships==
==== FabFurnish ====
FabFurnish was launched as an online retailer of [[furniture]], décor, and [[home appliances]] in March 2012 by Vikram Chopra,<sup>[1]</sup> Mehul Agrawal, and Vaibhav Aggarwal.<sup>[2]</sup> The company was headquartered in [[Gurgaon]], [[National Capital Region (India)|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.<sup>[3][4]</sup> On 13 April 2017, the Times of India reported that Future Group was likely to close FabFurnish.<sup>[5]</sup>
===Generali Group===
[[Assicurazioni Generali|Generali]] is an Italian insurance company, having business in India through a joint venture with Future Group under the brand name Future Generali Insurance. Future Generali operates in India having through two primary legal entities namely Generali India Life Insurance Co. Ltd.(Life Insurance) and Generali India Insurance Co. Ltd.(Non-Life Insurance).<ref>[http://www.futuregenerali.in/LifeInsurance/LifeOther/LifeOtherPages/AboutUs.aspx Future Generali Website]</ref> Since 2013, Future Generali held talks of a possible merger with [[Larsen & Toubro]] Ltd to form a general insurance company but a year later, on 22 April, Future Group backed out of merger leading to premature closure of the talks <ref>{{cite news|author=Shilpy Sinha |author2=Arijit Barman |url=http://articles.economictimes.indiatimes.com/2014-04-22/news/49318720_1_lt-general-insurance-company-generali-group-kishore-biyani |title=Kishore Biyani to pull out of general insurance merger talks with L&T for Future Generali |publisher=Economic Times |date=2014-04-22 |accessdate=2014-07-25}}</ref>


===Staples Inc===
==== Generali Group ====
[[Assicurazioni Generali|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).<sup>[Primary 1]</sup>
[[Staples Inc.]] ,a United States-based office supply retailer, has a presence of over nine cities in India under the joint venture with Future Group.<ref>{{cite web|url=http://www.futuregroup.in/news/joint-venture-staples.html |title=Future group press release announcing JV with Staples Inc |publisher=Futuregroup.in |date=2007-01-18 |accessdate=2014-07-25}}</ref><ref>{{cite web|url=http://www.staplesfuture.com/aboutus.asp |title=Staples Future Overview |publisher=Staplesfuture.com |date= |accessdate=2014-07-25}}</ref> As of April 2013, Future Group has 60% stake in the partnership.<ref>{{cite news|author=Sagar Malviya |url=http://articles.economictimes.indiatimes.com/2013-04-04/news/38278585_1_staples-future-office-products-future-group-staples-inc |title=Future Group, CEOs JV buy majority stake in Staples |publisher=Economic Times |date=2013-04-04 |accessdate=2014-07-25}}</ref>

===Skechers===
==== Staples Inc ====
[[Skechers]] entered India through a JV with Future Group in 2012.
[[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.<sup>[Primary 2][7]</sup> As of April 2013, Future Group had a 60% stake in the partnership.<sup>[8]</sup>

==== Skechers ====
[[Skechers]] entered [[India]] through a JV with Future Group in 2012. Skechers ended the joint venture in February 2019 by buying 49% them out.<sup>[9]</sup>

==== Celio ====
French fashion [[Celio (retailer)|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).<sup>[10]</sup> In November 2013, Celio hiked its stake in the joint venture to 65%.<sup>[11]</sup>

==== Clark ====
[[C. & J. Clark|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, New Delhi|Connaught Place]], [[Delhi]] on 19 April 2011.<sup>[12]</sup>

==== Future Retail ====
These are the brands of Future Retail:
* [[Big Bazaar]]
* [[Central (Department Store)]]
* FBB (Fashion at Big Bazaar)
* [[Nilgiris 1905]]
* aLL (A Little Larger)
* Heritage Fresh
* [[Easyday]]
* [[WHSmith]]
* [[Brand Factory]]
* Aadhaar Wholesale


===Celio===
==See also==
* [[Online shopping]]
French fashion Celio entered Indian markets in 2008 through a 50:50 joint venture with Future Group's then Retail hand, Pantaloons Retails India Ltd (now Future Retail Ltd).<ref>{{cite web|author=Rasul Bailay |url=http://www.livemint.com/Companies/bifI2VRPdrpboPBNHU3hMJ/Pantaloon-in-JV-with-menswear-firm-Celio.html |title=Pantaloon in JV with menswear firm Celio |publisher=Livemint.com |date=2008-04-17 |accessdate=2014-07-25}}</ref> On November 2013, Celio hiked its stake in the joint venture to 65% <ref>{{cite news|author=Raghavendra Kamath |url=http://www.business-standard.com/article/companies/celio-hikes-stake-in-future-group-jv-to-65-113112500030_1.html |title=Celio hikes stake in Future Group JV to 65% |publisher=Business Standard News |date=2013-11-25 |accessdate=2014-07-25}}</ref>
* [[Ecommerce in India]]


===Clark===
==References==
{{reflist|22|refs=https://www.inventiva.co.in/stories/inventiva/reliance-retail-extends-deadline-to-complete-rs-24713-crore-deal-with-future-group/}}
[[C. & J. Clark|C&J Clark International Ltd]]. is a UK-based footwear and accessories retailer. The Future Group has entered into a 50:50 joint-venture (JV) 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. The brand seeks to gain a share of the premium segment in this category.
<references />
<ref>{{cite web|url=http://www.livemint.com/Articles/PrintArticle.aspx?eat=tp&artid=E96C9986-6A65-11E0-A3E0-000B5DABF613 |title=Print Article |publisher=livemint |date=2011-04-20 |accessdate=2011-06-20}}{{dead link|date=July 2014}}</ref>


===Primary sources===
==Footnotes==
{{reflist}}
{{reflist|group="Primary"}}


==External links==
==External links==
* [http://www.futuregroup.in/ Future Group Official website]
* {{Official|www.futuregroup.in}}
*[http://timesofindia.indiatimes.com/topic/Kishore-Biyanis-Future-Group Times of India News : Kishore Biyanis Future Group]
*[http://www.thehindubusinessline.com/companies/future-group-ready-to-buy-nilgiris-at-less-than-200-cr/article6383979.ece The Hindu Business Line News: Future group ready to buy Nilgirs at less than Rs 200 Cr]
* [http://articles.economictimes.indiatimes.com/2014-04-14/news/49126238_1_nilgiris-dairy-actis-capital-kishore-biyani Economic Times Article: Future Group to acquire Nilgiris for up to Rs 175 cr]
* [http://economictimes.indiatimes.com/industry/services/retail/future-group-contemplating-retailing-private-brands/articleshow/34629824.cms Economic Times Article: Future Group contemplating retailing private brands]
*[http://economictimes.indiatimes.com/industry/services/retail/narendra-modi-government-seeks-views-of-retail-majors-like-walmart-reliance-retail-future-group-and-others-to-contain-price-rise/articleshow/38104338.cms Economic Times Article: Narendra Modi government seeks views of retail majors like Walmart, Reliance Retail, Future Group and others to contain price rise]
*[http://economictimes.indiatimes.com/industry/banking/finance/finance/future-retail-to-raise-rs-2000-crore-via-share-issue/articleshow/36396271.cms Economic Times Article: Future Retail to raise Rs 2,000 crore via share issue]
*[http://www.moneycontrol.com/news/business/plan-to-cut-debt-by-rs-4000-cr12-18-mths-future-group_1132650.html MoneyControl news: Plan to cut debt by Rs 4000 cr in 12-18 mths: Future Group]
*[http://www.business-standard.com/article/companies/future-group-eyes-rs-15-000-crore-revenue-114010601225_1.html Business Standard News: Future Group eyes Rs 15,000 crore revenue]
*[http://articles.economictimes.indiatimes.com/2013-04-25/news/38816982_1_reliance-retail-kishorebiyani-future-group Economic Times Article: Kishore Biyani Vs Mukesh Ambani: Relatively younger Reliance Retail is fast catching up on market leader Future Group]
*[http://forbesindia.com/article/boardroom/the-big-future-group-sale/33140/1 Forbes India Article: The Big Future Group Sale]
*[http://timesofindia.indiatimes.com/city/nagpur/Future-Group-plans-virtual-grocery-stores/articleshow/27987673.cms Times of India News: Future Group plans virtual grocery stores]
*[http://in.reuters.com/article/2012/06/29/us-staples-future-india-idINBRE85S0U920120629 Reuters: Staples Inc to buy out Indian wholesale JV: source]
*[http://www.moneyguruindia.com/article.php?cid=7559&id=1 MoneyGuru : Future Generali Insurance breaks even in six years]


{{Major Indian companies}}
{{Nifty 200 companies}}


[[Category:Companies based in Mumbai]]
[[Category:Companies based in Mumbai]]
[[Category:Economy of Mumbai]]
[[Category:Retail companies of India]]
[[Category:Retail companies of India]]
[[Category:Online retailers of India]]
[[Category:Online retailers of India]]
[[Category:Retail companies established in 2013]]
[[Category:2013 establishments in Maharashtra]]
[[Category:Indian companies established in 2013]]
[[Category:Future Group]]

Latest revision as of 22:55, 21 October 2024

Future Group
Company typePrivate
IndustryConglomerate
Founded2013; 11 years ago (2013)
FounderKishore Biyani
Defunct2022; 2 years ago (2022)
FateAcquired by Reliance Industries
HeadquartersMumbai, Maharashtra, India
Products
Number of employees
50,000
Divisions
Websitewww.futuregroup.in

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]

History

[edit]

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 billion or US$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 crore or US$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]

Operations and subsidiaries

[edit]

[Primary 2]

Retail

[edit]
  • Future Retail Ltd[16]
  • Future Lifestyle Fashion Ltd
  • Future Consumer Limited[Primary 3]
  • Future Enterprises Limited
  • Swathi Tiffin Shop
  • Foodhall

Financial services

[edit]

Other services

[edit]
  • Future Innoversity
  • Future Supply Chains
  • Future Brands

Brands

[edit]

Future Retail Ltd.

[edit]

[17]

Future Lifestyle Fashion Ltd

[edit]
  • Planet Sports
  • I AM in

Fashion and lifestyle

[edit]
  • Indigo Nation
  • Scullers
  • John Millers
  • All
  • Rig
  • Coverstory
  • SPUNK
  • DJ&C
  • Buffalo
  • Hey
  • Bare
  • Clarks
  • Holii
  • UMM
  • Urban Yoga
  • Jealous 21

Integrated foods and FMCG

[edit]

Source:[Primary 3]

  • Tasty Treat
  • Fresh & Pure
  • Ektaa
  • Premium Harvest
  • Mera Swad
  • Pratha
  • Punya
  • Sach
  • Kosh
  • Sunkist
  • Kara
  • TS
  • Clean mate
  • Care mate
  • Swiss tempelle
  • Baker street
  • Golden Harvest
  • Prim
  • Desi Atta Company
  • Sangi's Kitchen
  • Voom
  • Dreamery
  • Sensible Portions
  • MYSST
  • Puretta
  • Veg Affaire
  • Terra
  • Mother Earth
  • Karmiq

Joint ventures and associate companies

[edit]

FabFurnish

[edit]

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 Group

[edit]

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

[edit]

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

[edit]

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]

Celio

[edit]

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]

Clark

[edit]

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]

Future Retail

[edit]

These are the brands of Future Retail:

See also

[edit]

References

[edit]
  1. ^ Prime, E. T. "Kishore Biyani's Hamletian muddle: Will the Future Group founder walk his talk?". ET Prime. Archived from the original on 6 July 2020. Retrieved 6 July 2020.
  2. ^ "Top Companies in BSE Retail segment by Total assets". Moneycontrol.com. Archived from the original on 28 July 2014. Retrieved 25 July 2014.
  3. ^ "Top Companies in NSE Retail segment by market cap". Moneycontrol.com. Archived from the original on 28 July 2014. Retrieved 25 July 2014.
  4. ^ BSE (10 July 2014). "Future Group Companies". Profit.ndtv.com. Archived from the original on 29 July 2014. Retrieved 25 July 2014.
  5. ^ "Future Enterprises to raise Rs 3,000 crore from insurance biz sale; aims to pare debt, avoid insolvency". The Economic Times. Archived from the original on 9 May 2022. Retrieved 9 May 2022.
  6. ^ Our Bureau (30 April 2012). "Aditya Birla Novo to take control of Pantaloon's apparel business". Thehindubusinessline.com. Archived from the original on 24 January 2016. Retrieved 25 July 2014.
  7. ^ "Future Value to be merged with Pantaloon Retail to cut operating cost". India Times. 10 September 2012. Archived from the original on 12 August 2014. Retrieved 25 July 2014.
  8. ^ "Kishore Biyani's Future group acquires Bharti Retail in an all-stock deal valued at Rs 500 crore". The Economic Times. 5 May 2015. ISSN 0013-0389. Archived from the original on 21 May 2023. Retrieved 21 May 2023.
  9. ^ Mallet, Victor; Kazmin, Amy (4 May 2015). "Bharti Retail and Future Group to merge". Financial Times. Archived from the original on 21 May 2023. Retrieved 21 May 2023.
  10. ^ "Future Group's retail business to merge with Bharti Retail". Deccan Herald. 4 May 2015. Archived from the original on 21 May 2023. Retrieved 21 May 2023.
  11. ^ "Amazon to acquire 49% stake in Kishore Biyani's Future Coupons; to get a minority stake in Future Retail". Business Today. Archived from the original on 27 December 2021. Retrieved 27 December 2021.
  12. ^ "India's Reliance Retail to acquire Future Group's retail, wholesale, and logistics businesses for $3.4 billion". TechCrunch. Retrieved 29 August 2020.
  13. ^ Rai, Saritha; Sanjai, P.R. (9 March 2022). "How Ambani Outfoxed Amazon in a $3.4 Billion Deal Dispute". Bloomberg News. Archived from the original on 30 March 2022. Retrieved 21 June 2022.
  14. ^ "Amazon wins Supreme Court case restraining merger between Future and Reliance". TheEconomicTimes. Archived from the original on 25 September 2021. Retrieved 1 October 2021.
  15. ^ "Explained: Why CCI withdrew approval for Amazon's investment in Future Group". The Indian Express. 23 December 2021. Archived from the original on 27 December 2021. Retrieved 27 December 2021.
  16. ^ "Future Group to steer Heritage's retail business". The Hindu. 8 November 2016. Archived from the original on 14 March 2024. Retrieved 19 August 2020.
  17. ^ "Fanzart partners with Future Group's HomeTown Stores". retail4growth.com. Archived from the original on 16 April 2021. Retrieved 21 June 2022.
  18. ^ Reporter, Corporate. "Big Bazaar to invest Rs. 600 crore on expansion". The Hindu. Archived from the original on 14 March 2024. Retrieved 26 February 2017.
  19. ^ pilla, vishwanath. "Future Retail buys Heritage Foods's retail business". Live Mint. Archived from the original on 8 May 2018. Retrieved 7 November 2016.


Primary sources

[edit]
  1. ^ a b "Future Group Businesses as mentioned in its official website". Archived from the original on 10 October 2018. Retrieved 23 November 2011.
  2. ^ "Future Group Businesses as mentioned in its official website". Archived from the original on 10 October 2018. Retrieved 23 November 2011.
  3. ^ a b "Future Consumer Limited". futureconsumer.in. Archived from the original on 2 December 2019. Retrieved 23 January 2020.
[edit]
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