Future Grp to tie-up with realty firms for Home Town
Noida,
Apr
6:
Home
Solutions
(India),
a
Future
Group
company,
will
tie-up
with
realty
majors
for
sourcing
goods
and
services
from
its
home
solution
stores
launched
today
and
has
bagged
orders
worth
Rs
250
crore
from
real
estate
companies
Unitech
and
Prestige
on
the
first
day.
The
order
from
Unitech
is
worth
Rs
150
crore
while
the
company
has
secured
another
Rs
100
crore
deal
for
providing
modular
kitchens
and
electronics
for
apartments
designed
by
Bangalore-based
builder
Prestige
in
the
electronic
city,
Future
Group
CEO
Kishore
Biyani
told
reporters.
''The
orders
are
to
be
completed
in
the
next
12-24
months.
The
company
expects
to
clock
revenues
of
Rs
300
crore
from
this
store,
Noida
being
the
growing
hub
of
retailing
in
north
India,''
he
said.
The
company,
which
opened
its
first
home
solution
retail
format
'Home
Town'
over
an
area
spanning
1,25,000
sq
ft,
will
come
up
with
nine
such
stores
in
Ahmedabad,
Pune,
Bangalore,
Mumbai,
Lucknow,
Kolkata,
Lucknow
in
the
next
15
months
at
investments
worth
Rs
180
crore,
which
includes
only
the
cost
of
setting
up
the
store.
The
upcoming
stores
will
either
be
on
a
standalone
basis
or
could
be
placed
in
a
mall
like
the
one
launched
at
Unitech
Mall
here
today.
Talking
about
the
company's
marketing
strategy,
Mr
Biyani
said,
''We
are
there,
where
people
are
there
and
are
ready
to
spend.
We
are
not
looking
at
luxury
goods.
We
want
to
cater
to
lower
middle
to
upper
middle
class.''
He
said
the
company
will
spend
aggressively
on
advertising
starting
with
an
8-page
ad
campaign
in
leading
newspapers
tomorrow.
In
addition
to
retailing,
'Home
Town'
will
have
live
displays
of
living
rooms,
bed
rooms,
kitchens
and
bathrooms
besides
providing
services
like
carpentery,
plumbing,
interior
decoration
and
vaastu.
The
new
venture,
which
marks
Future
Group's
foray
into
the
services
business,
will
also
provide
for
home
loans
under
the
company's
credit
product
'future
money'
and
home
electronics
ranging
from
televisions
to
refrigerators,
DVD
players
to
washing
machines.
The
company
which
also
owns
Big
Bazaar
stores
in
India,
will
offer
a
one-year
guarantee
on
the
services
and
goods
provided
by
Home
Town.
In
case
of
any
defect,
consumers
will
have
the
option
to
exchange
or
refund
the
product.
The
Future
Group
has
a
presence
in
food,
fashion
and
foot
wear
retailing
across
36
cities
in
the
country.
UNI