Future group to take Brand Factory online
Future group will take online its fashion discount retail chain Brand Factory in February next year, its Group CEO Kishore Biyani said.
This would be a major online project of the Future Group in the ecommerce space after it had closed its online furniture store business FabFurnish.
"In February, we would be launching one of our own online site brandfactory.in in February, which would be our biggest launch in ecommerce and online business," Biyani said.
He further said, "We are investing in the online business and trying to understand the space again." According to Biyani, the group was one of the pioneers in the online sales in India with futurebazar.com, which was probably even earlier than Flipkart.
The company's effort on fabfurnish and tablet driven sales also did not worked and "lost lot of money in that business,"he said.
He further said that the money which he lost on ventures like fabfurnish was "compensated" as the company learned "enough" from that.
"Today, if you look at our Hometown as a business, online business for us, which we are selling on other's site, this year we should be doing close to sell around Rs 100 crore," he said adding "we have learned something out of it".
However, on being asked about the reports over probable sale of around 9.5 per cent stake in Future Retail to the US-based online major Amazon, Biyani declined to comment.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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