Futurbazaar,com, the online shopping window of the Future Group owned Pantaloons Retail is expecting to cross Rs 180 crore in revenue in the new fiscal on the back of a re-launched website. According to BS, the now year old online retail arm of Pantaloon Retail has already clocked Rs 62 crore. The number seems to have fallen below projections as indicated in a report in April, predicting revenues to be around the Rs 75.5 crore mark. The report quotes Sankarson Banerjee, CEO, Future Bazaar, as stating Wipro Technologies will be redesigning the portal at a cost of Rs 20 crore. They will be expanding product range and categories, including regional brands.
The portal also plans to retail regional language movies. FutureBazaar currently sells around 800 Hindi movie titles and 400 regional ones. It will also add to its regional books inventory with a plan to push sales currently around the 1,000 mark to 12 lakhs (1.2 million). Interestingly, they are also looking at an Argos’esque offline information center that can hold product catalogues of the entire product range gleaned from the website.