Future Group eyes tie-up with overseas retailers

Future Group, which runs the country’s largest listed retailer Pantaloon Retail, is in talk for a foreign tie-up and hopes to file papers for an IPO in its investment arm soon. The company has been in touch with many overseas retailers to unveil cash-and-carry outlets in India this year. This tie-up with global retailers would provide Future Group expertise in retail, sourcing of raw materials and funds. Future Group’s plan is to add three million square feet of space annually with an average investment of 10 billion rupees in the next five years. This mega expansion plan will bring a new sunshine in the Indian retail segment where in-store media companies and signage suppliers could embark upon a new momentum.