CorporateFuture Group to launch more private labels: Biyani
Kishore Biyani-promoted Future Group is expanding its private labels in various categories with plans to launch more products in new segments, such as toothpaste, as part of plans to become a Rs 25,000 crore conglomerate by 2013-14.
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"We are launching quite a few new ones actually. We are launching our own toothpaste under the brand name of "Sach" soon," Future Group Chief Executive Officer Kishore Biyani told PTI.
Private labels are brands owned by a retailer and not by a manufacturer and production of these are usually outsourced.
He added the group has lately launched soups and noodles under its private label "Tasty Treat".
Biyani had said that the group is aiming to have a turnover of Rs 25,000 crore by 2013-14, up from Rs 10,000 crore at present. The group"s private labels are managed by Future Brands, the brand development and marketing subsidiary.
The group had earlier this year said that it would focus on the FMCG segment as part of a plan to increase the share of private labels in the group"s retail formats.
Future Brands, which owns 18 trademarks in segments like apparel, FMCG and consumer electronics, is aiming to achieve a turnover of Rs 750 crore from the private labels this fiscal, up from the Rs 660 crore in 2008-09, a growth rate of 14 per cent.
In July, Future Group had said it is working on lingerie brands which are to be launched in the group"s Pantaloons outlets. Besides, the group was also looking at revamping its "Tasty Treat" brand.
Future Group"s trademark brands include 12 apparel, four FMCG and two household products labels. Private labels contributes around 30 per cent of its sales in FMCG and 25 per cent in personal care in the group"s major formats, including Pantaloons and Big Bazaar.