Future Group to focus on new products under own label

Future Consumer Enterprise Ltd (FCEL), Future Group's consumer packaged goods unit, plans to launch a new brand, category or product every two weeks as it aims to have its own labels account for 70 per cent of the products sold in group retail chains such as Big Bazaar and Easyday.

''We have already launched 21 brands under FCEL,'' Kishore Biyani, Future Group chief executive, said at a press conference to unveil the company's oats brand Kosh.

The plan is part of the company's stated objective of increasing revenue tenfold to Rs20,000 crore by 2021.

FCEL plans to invest Rs50-60 crore in marketing and distribution of the Kosh brand in the next three years. In the pipeline are brands of popcorn, confectionary and chocolates, which would take about a year to develop, Biyani said on the sidelines of the conference.

Brands like Kosh will also be available at other retailers including Trent Hypermarket Ltd's Star Bazaar, Tata Group's retail venture with UK's Tesco Plc and in general (kirana) stores in 12 cities besides Future Group's own network of retail chains, Biyani said.

FCEL has access to more than 3,800 stores, including 770 Future Group retail stores and those of peers such as Metro, HyperCity, Star Bazaar and Spar, besides more than 1,200 fair price stores in Rajasthan, the company said in an investor update for the June quarter.