Future Group targets at Rs 10,000 crore in next five years

The Future group, owned and managed by Kishore Biyani has formed a management committee to expand its food and FMCG arm Future Consumer Enterprise (FCEL), reported ET.

The group is targeting its annual sales fivefold to Rs 10,000 crore in the next five years.

The team includes founder Kishore Biyani, Ashni Biyani, Director and top executives from various divisions, such as Food Park CEO Praveen Dwivedi, fruits & vegetables division directors Sumit Saran and Vivek Dhume and recently-appointed FCEL CFO Manoj Saraf.

By March, the group is planning to partner with over nine local and international food and personal care brands to make and distribute their products across its retail chain formats.

In the recent change, Devendra Chawla will now be responsible for the groups entire buying and merchandising operations. Murali Krishnan, CEO of the recently-acquired convenience chain Nilgiris, will also head the group's other convenience store chain, KB's Fair Price and both will be part of the committee.

"FCEL has the potential to emerge as one of the largest FMCG companies in India with strong presence across home, personal care and food space," said, Kishore Biyani, CEO, Future Group.

The group is targeting at launching regional products as well as bringing international brands through partnerships.

“FCEL signed its first licensing agreement with California-based Sunkist Growers last year to launch its citrus beverage products in India, marking the group's entry into consumer business outside its private label portfolio,” added Biyani.