Indian retail company Future Group is planning to open 90 new Heritage retail stores in the southern states of Andhra Pradesh and Telangana over the next few years.
The retailer is also planning to open few stores in Karnataka.
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Last year, the group acquired 60 Heritage supermarket outlets from Andhra Pradesh Chief Minister N Chandrababu Naidu, who was also the founder of Heritage Foods.
Future Group is reported to be carrying out discussions with the Government of Telangana for establishing a new manufacturing facility in the state for its retail apparel vertical.
Future Group chief executive Kishore Biyani was quoted by Economic Times as saying: “We are looking at getting into garmenting as a business here in Hyderabad as we want to have a textile mill in each of our centres.”
The retail group further explained that Hyderabad is a major market for the company, and it is planning to increase its business in the region this year.
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By GlobalDataSpeaking to reporters at an event, Biyani said it was too early to comment on whether the proposed mill is to be built at the Warangal mega textile park, which is reported to be one of the largest textile parks in the country.
The Government of Telangana is believed to have already signed agreements with South Korean firms Youngone Corporation, Welspun Group and Chirpal Group, who have agreed to invest in facilities at Warangal.
