Future Group, once a titan of Indian retail, had a dramatic trajectory marked by rapid growth, bold innovation, and ultimately, the challenges of a rapidly evolving market. Founded in 1987 by Kishore Biyani, the group’s journey became a captivating story of ambition, innovation, and the unpredictable nature of the business world.
The journey began in 1987 with a single store in Mumbai, selling apparel under the “Pantaloons” brand, planting the seeds of a retail revolution. In 1994, Big Bazaar, the now-iconic hypermarket chain, was launched, offering a wider range of products at competitive prices and disrupting the traditional market landscape. Expansion accelerated in 2007 with the acquisition of prominent retail chains like Foodhall and Central. In 2010, the Future Group became a pioneer in online sales events by launching ‘The Great Indian Shopping Festival,’ setting the stage for major e-commerce initiatives in India.
Future Retail, the group’s retail arm, was formed two years later to consolidate its various store formats, streamlining operations and creating a unified brand identity. In 2016, embracing digital advancements, Future Group ventured into online grocery with Big Bazaar Direct, challenging established players like Amazon and aiming to capture a share of the burgeoning online market.
However, in the following years, growing debt and intense competition from online retailers like Flipkart and Amazon began to take their toll, putting immense pressure on Future Group’s finances and its ability to adapt to the changing landscape. Mounting financial pressures led to loan defaults, triggering legal battles and insolvency proceedings, throwing the future of the group into doubt.
In 2020, In a landmark deal, Reliance Industries began talks for acquiring Future Retail’s assets but called off the deal two years later.
