Kishore Biyani owned Future group has partnered with a vintage brand Laura Ashley, known for its flaural dresses in 1980s.
Laura Ashley runs 450 stores globally and will have exclusive rights to make and sell merchandise as well as wholesale distribution in India.
Future group has signed the licensing deal for its larger business-home furnishing
“We are trying to bring aspirational products within Home-Town as there is enough potential in the market. We are reworking on a strategy for specialty business and will partner or bring more global brands in the category,” Future Group CEO Biyani said. “We will also house the brand within department store Central and open at least 15 stores in the next few years.”
There is a lot of potential in this market and Future group has already started utilizing the opportunities, it acquired last year FabFurnish and differentiate its retail format hometown as a separate legal entity with targeted revenue of Rs. 1000 crore.
Due to lot of potential profit in the market, various giants has already started executing their strategies like ecommerce has already entered the segment , Ikea will soon this year open its first store in Hyderabad and plans to expand its visibility to 25 stores by 2025.
The three-fourth market of furniture and home-furnishing is controlled by standalone stores and carpenters.