Future Group extends customer services
Leveraging its presence in various retail formats, the Future Group is extending its retail offerings into everyday customer services.
By TNN |
MUMBAI: Leveraging its presence in various retail formats, the Future Group is extending its retail offerings into everyday customer services. Pantaloon Retail, the group’s retail arm has launched Future Services, under which it has set up six verticals that would offer services to customers — bill payments, utilities, homecare, pest control, wedding planning and services, travel, beauty and wellness. The Future Group already has a presence in financial services through Future Money, a part of Future Capital.
Future Group CEO Kishore Biyani says: “We have more than 50 million customers that walk into our stores annually and a total customer base of 200 million. We want to extend this relationship with customers by offering them services.” The idea germinated when the homecare services offered in Pantaloon’s Home Town format, like plumbing and masonry, proved to be very popular with customers who were pressed for time. Former VSNL employee Madhumati Lele has been roped in to head Future Services.
Pantaloon Retail will look at setting up servicing kiosks across Big Bazaars, Home Towns and the malls that will be developed by them. The kiosks will be branded ‘Mr Right’, under which the services will be offered. Over the next few years, Pantaloon Retail plans to scale it up to 600 kiosks in the top 8 metros, and has targeted revenues of Rs 100 crore. According to Ms Lele: “There is a greater need for such services in the metros where people don’t often have time to devote to bill payment and homecare.”
The first such kiosk was launched in Milan Mall in Mumbai. Ms Lele says: “We have had more than 1,000 enquiries for services in less than three days of its launch.” The business has been incubated within Pantaloon Retail, but will be soon spun off as a subsidiary of the Future Group. Initially, most services would be outsourced to third-party vendors. Future Services has tied up with cleartrip.com for travel, an arrangement which is likely to continue. For pest control it has tied up with PCI.
Future Group CEO Kishore Biyani says: “We have more than 50 million customers that walk into our stores annually and a total customer base of 200 million. We want to extend this relationship with customers by offering them services.” The idea germinated when the homecare services offered in Pantaloon’s Home Town format, like plumbing and masonry, proved to be very popular with customers who were pressed for time. Former VSNL employee Madhumati Lele has been roped in to head Future Services.
Pantaloon Retail will look at setting up servicing kiosks across Big Bazaars, Home Towns and the malls that will be developed by them. The kiosks will be branded ‘Mr Right’, under which the services will be offered. Over the next few years, Pantaloon Retail plans to scale it up to 600 kiosks in the top 8 metros, and has targeted revenues of Rs 100 crore. According to Ms Lele: “There is a greater need for such services in the metros where people don’t often have time to devote to bill payment and homecare.”
The first such kiosk was launched in Milan Mall in Mumbai. Ms Lele says: “We have had more than 1,000 enquiries for services in less than three days of its launch.” The business has been incubated within Pantaloon Retail, but will be soon spun off as a subsidiary of the Future Group. Initially, most services would be outsourced to third-party vendors. Future Services has tied up with cleartrip.com for travel, an arrangement which is likely to continue. For pest control it has tied up with PCI.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
