It looks like Kishore Biyani, the chairman of India’s biggest organised retailer Future Group, is sensing the end of the slowdown.
It looks like Kishore Biyani, the chairman of India’s biggest organised retailer Future Group that operates stores like Big Bazaar, Central and Home Town, is sensing the end of the slowdown. Future Group is in the final stages of a deal with a private equity player to raise Rs 2,000 crore. With real estate prices getting more realistic, that much money can help Biyani aggressively push ahead with plans for 50 new stores this year. That’s not all. According to company sources, Future Group is also in talks with several large global retailers such as Carrefour and Group Casino from France, Royal Ahold, the Dutch giant, and US-based Costco to form an alliance for the cash-andcarry business. But the 90-billion Carrefour, which met with more success than even Wal-Mart in China, seems to be the frontrunner for the deal. A similar Bharti-Walmart JV is already up and running with its first outlet in Amritsar.
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