Diversified conglomerate Future Group today announced its entry into the rural wholesale and distribution business with the opening of its first 'Aadhaar Wholesale' store in Gujarat.
With plans to open 65 'Aadhaar Wholesale' stores across the country, Future Group has set up its first store at Kalol, Gujarat, through its subsidiary, Aadhaar Retailing, and another one will soon come up in Punjab.
The company expects to develop an around Rs 4,000 crore business through this format in the near future.
"Aadhaar Wholesale is our first step toward the rural distribution model, offering small general traders everything they need to run their business under one roof and enabling them to participate in modern distribution infrastructure to grow their business," Future Group CEO Kishore Biyani said in a statement.
The group plans to have many more such Aadhaar Wholesale stores to further strengthen rural modern trade infrastructure and thereby contribute to the development of the local economy, he said.
Aadhaar Wholesale will have 1,500 stock-keeping units or products, including processed food, personal and home care, general merchandise items and kitchen appliances.
At present, the group operates 60 Aadhaar retail outlets in rural locations across the country in partnership with the Godrej Group.
The size of the rural consumer goods market is estimated to reach Rs 16,70,100 crore by 2015, according to estimates by consulting firm McKinsey.
