Future Group targets 20% revenue from online sales with Rs 100 crore investment

Retail chain Future Group on Wednesday said it will invest up to Rs 100 crore to beef up its e-commerce venture over the next 18 months to widen its footprint to each of the postal codes and is targeting to net 20 per cent of revenue from online sales.

Towards this, the company has roped enterprise leader SAP's Hybris OmniCommerce solutions.

"We have prepared a two-year roadmap as per which we do see an investment of Rs 100-odd crore into the new venture over the next 18 months to upgrade search engine optimisation, points of sale tools and other related IT initiatives," Future Retail Joint Managing Director Rakesh Biyani said.

On the revenue share from online sales, group founder and chief executive Kishore Biyani said we are targeting up to 20 per cent sales through the online channel over the next 18 months.

"We are hopeful of achieving 15-20 per cent of our business coming from this new channel alone," Biyani added.

By March next year all its existing products and brands will be made available for sale online, the junior Biyani added.

The company has already got a database of its 3 crore customers which it will use in its new venture.

"We have already got data of 3 crore of our customers with us and we would create a content in those customers' shopping basket over the next one year. The roll-out will begin by the month-end, Future Group chief executive officer Kishore Biyani said.

"We are looking forward to working closely with Future Group to realise its business objectives," Hybris global chief customer officer Kees de Vos said.