Future Group to tie up with Booker Group

The Future Group, India's largest retailer, is partnering British wholesaler Booker Group to open cash and carry stores, in a move that will bring it in direct competition with the likes of Walmart India and Metro Cash & Carry. 
●    The equal joint venture between Future Consumer (FCL) and UK’s largest wholesaler, plans to open 60-70 stores in three years to sell merchandise to local kirana stores, hotels and catering firms. 
●    The JV is part of Biyani's wider strategy to reach Rs 20,000 crore in sales from in-house brands by 2021 and push these higher margins products outside its own 800-odd stores.
●    While Future Group operates around 13 million square feet of retail space with an annual customer footfall of 295 million, it sells own brands to Tata StarBazaar, Metro and Spar. 
●    Within the country, Punjab, Andhra Pradesh and Maharashtra contribute half the wholesale sales with soft drinks (12%) dominating the channel in terms of value within the CPG space, followed by toilet soaps (9%) and washing powder (8%), according to a Nielsen report last year.