Kishore Biyani-promoted Future Group's private label arm Future Brands is looking at launching 4-5 more private brands across 7-8 categories over the next few months, a top company official said.
The firm, which currently owns 21 private brands such as John Miller, Care Mate, Mohena, Koryo, was set up by the promoters of retail chains Big Bazaar and Pantaloon to recreate its private labels as conventional brands, besides providing brand consultancy services.
"We are looking at launching 4-5 brands over the next six-months. These will be across 7-8 categories. Some will be in the FMCG space and some in consumer durables. We will be entering into new categories with Koryo, our consumer durable brand," Future Brands' CEO and Managing Director Santosh Desai told reporters on the sidelines of AIMA event here today.
Koryo already has its presence in categories such as microwave ovens, TVs and other small appliances. The consumer durables category is growing at 40 per cent YoY, Desai said.
The new categories and products will be available in the market in the next six-months, he said.
"We see a growth of about 50 per cent in our private brands and expect the private brands to keep growing at the same rate over the next few years," Desai said, adding that Future Brands contribute around Rs 1,600 crore to the topline of the group.