Future Group, India's leading business house with strong presence in retail sector, has launched a new retail chain of stores to market ethnic brands and products of India.

The Kishore Biyani-promoted retail giant today announced that the company has rolled out its first store for ethnic brand called ‘Ethnicity’ in Ahmedabad. The stores will offer wide collections of ethnic and fusion wear, jewellery, handicrafts, home decor, beauty products and accessories and gifts. However, all products in these stores will be Indian.

Presently western brands have a wider platform than the ethnic brands across the country. So, the company comes with new concept of ‘Ethnicity’, aimed at providing a space for smaller Indian brands and ethnic products.

After successful launch of store in Ahmedabad, it plans to start 8 such stores in various cities over the period of next two years. According to sources, Future Group is likely to pump in around Rs 7 to Rs 8 crore for each Ethnicity store, which will be spread across 25,000 to 30,000 sq. ft.  

The company aims to achieve a topline of Rs 10,000 crore this fiscal. The Future Group registered total revenues of Rs 6,500 crore last fiscal.