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Future Retail closes 11.68% higher on unveiling of 30-year vision plan

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Shares of Future Retail, section of fashion and retail conglomerate Future Group, rose around 11.2 per cent to Rs 572.85 today, their highest in over 60 days following the retail chain said promises to open 10,000 member-only Easyday stores to really make it a Rs. 1.5-trillion income opportunity by 2022. At 2:12 pm, the stock was trading 8.44 percent or 43.35 points higher at 557 level about the BSE.The stock closed 11.68 percent or 60 points higher at 573.75 level around the BSE. , the retail chain unveiled a 30-year vision, Retail 3.0, by if it offers to become Asia?¡¥s largest integrated consumer retailer by 2047 with revenue of more than $1 trillion. Future Group leader Kishore Biyani said by the end of the existing fiscal, the gang could have 1,100 Easyday stores in the present 700.Each such store may have an investment close to Rs 15 lakh, he added.

We may have 10,000 member-only stores by 2022, and assuming certain spends, this will be a Rs. 1.5 trillion home business opportunity to the group,?¡À Biyani said.He explained each member-merchant is going to be charged Rs. 999 in annual membership fee, that the member is certain to get 10 % discount on all purchases. These stores aim to place an outlet within 2 km of the consumer, and may 2,500-3000 sqft area with 3,500 stock keeping units, he was quoted saying.Other group companies, Future Enterprises, Future Lifestyle Fashions and Future Consumer also rose 3.4 – 4.3 percent.

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