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This summer, Future Group is planning big. While its upmarket Central chain is looking to set up new stores of bigger size and venturing into interior India, its budget chain, Brand Factory, has lined up expansion plans. "Having experienced these stores in bigger cities, people in smaller towns are now demanding them," said Vishnu Prasad, CEO, Central and Brand Factory, in an exclusive chat with ET.
Moreover, Brand Factory's interiors are set to become almost similar to that of the Central. The emphasis for the brand is on bigger stores now. The latest Central, coming up in Bangalore and to be operational by Diwali, is going to occupy 3 lakh sqft, the biggest ever. Seven such stores are planned for this year in smaller cities, including Raipur and Jaipur.
"Central is going to be for the brand-concious people," said Prasad. But now the store will also aim to be a neighbourhood celebration centre, with all festivals being celebrated there with full fanfare.
"If you want to play Holi, just come there," says Prasad. Similarly, this Diwali will see crackers galore waiting to be burst. And it's all on the store, says Prasad. This integration with the neighbourhood is a new venture of Central and will be a feature across all its stores from this year as it expands into smaller cities with bigger brands.
Future Group is also revving up the discount end. Brand Factory is also expanding by 20 stores, expects a turnover of Rs 300 crore this year, which is double of what they made last year, said Prasad. Much of that is resting on whether customers take to the new chic and bigger stores of this discount brand. The number of brands in the store is going to go up to 250 this year, including 30 inhouse discount brands.
http://economictimes.indiatimes.com/news/news-by-industry/services/retailing/Brand-factory-central-set-for-expansion/articleshow/5938208.cms