The Hindu Business Line : Future Group plans host of new ventures

Mr Kishore Biyani, CEO, Future Group, on Friday said he is diversifying into businesses such as contract farming, healthcare and hospitality even as his group is giving finishing touches to these new ventures set to start in the next few months.

Talking to reporters on the sidelines of the ongoing "Confluence 2006", Mr Biyani said thanks to the "mall culture" now emerging in the country, the business of fashion alone is set to increase from the current Rs 2,000 crore to Rs 5,000 crore in the next couple of years. His group, which already has set up a string of Big Bazaars and Pantaloon outlets, would now open a chain of `Home Towns', retail outlets of home-made products. Starting with Ahmedabad in the next two months at an investment of Rs 20 crore, the group plans to open eight such stores across India in the next few months.

Besides, Mr Biyani said, the Future group is going in for contract farming in a big way. A pilot project in a 5,000-acre area is coming up near Indore, Madhya Pradesh and similar other projects were being planned in 25,000 acres of area each in Gujarat, Rajasthan and Punjab. He, however, declined to elaborate further.

The other businesses the group is working on are in the healthcare, beauty and well-being segments.

The first healthcare outlet is being opened in Bangalore next month for which the group has tied up with the Manipal Healthcare and is in talks with the Talwalkars for the gymnasium business. It is also eyeing the hospitality business in the near future, he added.