Future Group has already developed some Private Labels developed by its group company Future Brands that are promoted by the group’s retail stores and also being made available to other retailers. Future Brands already has some good brands in its portfolio,
- John Miller, Lombard, Bare, DJ&C, Buffalo and RIG in the Fashion and Appareal space
- Tasty Treat, Premium Harvest, Fresh & Pure, Care Mate and Clean Mate in the Food and Home care segment.
Now the company is extremely bullish on the prospects of Private Label Branding and hopes to take on competition from MNCs head on. Mr Desai, CEO of Future Brands said,
There is no reason why we cannot be on par with the MNC companies and grow even larger than them with our brands. We expect private labels to contribute an additional 10% to our margins. MNCs have built brands which are not meant for India and this gives us an opportunity to build brands for Indians.
Mr. Desai further added,
India is still an unbranded country with only 8% of goods being branded. There is now a strategic approach to building private brands as it would drive our margins and we would have better negotiating powers with manufacturers.
Future Brands has hired some best brains in the industry and have assigned them the most challenging tasks of building Indian Private label Brands. Retailers are the first point of contact between the customer and the brand – Future Brands understands consumer needs, and wants address them by developing suitable products. Hopefully they will treat customers the way the Father of the Nation [M.K.Gandhi] has asked to 🙂