Future Group Vendors United (FGVU)

FutureGroup

14 November 2022, Mumbai:

Future Group Vendors United (FGVU) is an association of more than 300 MSME vendors supplying garment and fashion accessories to all Future Group companies namely Future Enterprises Ltd / Future Retail Ltd / Future Lifestyle Fashions Ltd / Future Speciality Retail Ltd.
Mr. Piyush Shah, Co-Founder & Member of Future Group Vendors United stated that the future of vendors and around one lakh workers was in jeopardy.
In view of the above situation, the vendors have decided to gather outside Reliance Retail head office at Ghansoli, Navi Mumbai on 14 th November 2022.
It had two points agenda while meeting Kishore Biyani, though nothing came out from the
meeting.
1) Recovery of its outstanding in all Future Group companies pending for over 3 years.
2) The goods which we had made under the tripartite arrangement between Future Enterprises Ltd/ Reliance Retail Ltd / Vendors lying with us for the last 8 months.
A mutual arrangement was arrived at where we vendors used to bill goods to Future Enterprises Ltd and ship to Reliance Retail Ltd and payments for the same were done by Reliance Retail Ltd directly to the vendors.
After a lot of requests, the part quantity of our goods was lifted by reliance retail Ltd in the month of
July / August 2022 but a significant part of our goods are still lying with us which has a value of more than 500 crores.
Being Future Group vendors, it had no way to contact Reliance Retail and it does not even have a clear reply from Future Group spite chasing them for the last 8 months.
Some desperate measures need to be taken not only in the interest of these MSME vendors & huge numbers of workers but also to safeguard the general interest of the garment industry in the country.

Latest Textile News

Author’s Posts

  • 68th IIGF happening on 7-9 Feb 2023

    07 February 2023, Mumbai

    This edition, the 68th India International Garment Fair is currentl...

    Feb 07, 2023

  • Taneira's stellar OOH campaign in Gurgaon rolled out

    07 February 2023, Mumbai

    An innovation-led OOH campaign to promote Taneira from

    Shoppers Stop & Cadbury Dairy Milk Silk join hands for Valentine’s Day

    07 February 2023, Mumbai

    Shoppers Stop and, Cadbury Dairy Milk Silk has collaborated to make...

    Feb 07, 2023

  • LC Waikiki: Kicks off Mirchi Jam Season 1

    03 February 2023, Mumbai

    Apparel Group’s leading fashion retail brands LC WAIKIKI and Mirch...

    Feb 03, 2023

  • Union Budget 2023-24: Spykar Lifestyle view

    02 February 2023, Mumbai

    About Spykar

    DFU
    DFU-Intimate Wear
    Azad
    Virtual Fashion