Future Ventures opens its first Aadhaar Wholesale in Kalol
AHMEDABAD: The Kishore Biyani-promoted Future Group launched its cash and carry business in rural India through Aadhar Retail, that it took over from Godrej in 2008.
Future Ventures, through its subsidiary, Aadhaar Retailing Limited, on Monday launched the rural wholesale and distribution business with the first `Aadhaar Wholesale` store in Kalol, 30 kms from Ahmedabad.
Sixtyfive wholesale stores would be set up pan-India to capture the growing consumption demand in rural India. The rural consumption market is estimated to reach Rs 16,70,100 crores by 2015, according to estimates by consulting firm, McKinsey.
Aadhaar Wholesale stores will have 1500 SKUs comprising processed food, personal and home care, general merchandise and kitchen appliances which will cater to rural retailers and `Aadhaar Retail` franchisees. The Kalol store for instance, would support 500 rural retailers in its vicinity and equal number of franchisees.
In 2011, Future Group had signed a MoU with Gujarat Government for creating livelihood and jobs in rural areas through multiple initiatives. The company expects to develop around Rs 4,000 crore business through this format within the near future, a press statement said.
Kishore Biyani, Group CEO, Future Group said, "Aadhar Wholesale would offer small traders everything they need to run their business under one roof, enabling their participation in the modern distribution infrastructure to grow their business. This would strengthen the rural-modern-trade-infrastructure."