Videocon inks strategic alliance with Future Group

Mumbai, Dec 27 (UNI) Videocon and Home Solutions Retail India Ltd (HSRIL), a part of Future Group, have entered into an MoU to partner each other for offering consumer durables to customers.

As per the partnership, Videocon will manufacture electronics and appliance products for HSRIL's in-store brands like Sensai and Koryo. Similarly, HSRIL will stock and sell all Videocon products through its retail outlets across the country.

After signing of the MoU, Future Group CEO Kishore Biyani told the media ''All our formats have consistently been making available to customers across the country, the finest products at the most affordable prices and with this MoU, our brands like Sensei and Koryo will continue the tradition.'' So far the Future Group has been relying on Chinese manufacturing firms for supply of these electronics appliances. However, Biyani said, ''After this MoU we'll stop importing few of them from China.'' Koryo alone contributes 12 per cent of entire sales of electronic appliances by the retail outlets of Future Group.

Videocon Industries Ltd Director P N Dhoot said ''This move will help us meet our future turnover targets in a bigger way. We've been asked to supply some 25,000 colour TVs to the Future Group during the month of January alone.'' UNI KKD KU AW1325