The company will offer the lowest price across categories like food and apparel amid the Covid-19 outbreak, which has led to an economic slowdown in the country.
This growth will be led by technology and credit. The brand will offer consumption credit through a significant tie-up with Bajaj Finance. There will not be any discounting. It is a ‘first price right' strategy which will get the consumer into our outlets,” Biyani said.
For the financial year 2018-19, Future Retail had reported a net profit of Rs 733 crore ($102.7 million) on revenue of Rs 20,165 crore. It operates more than 1,550 for its brands Big Bazaar, FBB, Easyday, Ezone, among others.
Majority of its revenue is driven by the group’s supermarket chain, Big Bazaar, and fashion retail chain, Fashion at Big Bazaar.