Future group will take online its fashion discount retail chain Brand Factory in February next year, its Group CEO Kishore Biyani told PTI.
According to a PTI report: This would be a major online project of the Future Group in the e-commerce 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 e-commerce and online business,” Biyani told PTI.
He further told PTI, “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 was quoted by PTI as saying.
He further told PTI 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 told PTI adding “we have learned something out of it”.
However, on being asked about the reports over probable sale of around 9.5 percent stake in Future Retail to the US-based online major Amazon, Biyani declined to comment.
