MUMBAI: The Future Group is exiting speciality retail formats as part of a larger strategy to focus on its core fashion and food businesses. "We have cracked the food business backed by a platform of brands product distribution, consumer insight and supply chain. "For a man known as the father of modern retail in India, the latest move is a major departure from his original strategy. Future Lifestyle Fashion posted sales of Rs 1,064 crore and an operating margin of 10% in the quarter ended December 2016 — both higher than Shoppers Stop — with same-store sales growing more than 20%. It also has a host of international partnerships, with Sunkist and Hain Celestial of the US and Swiss firm Mibelle AG.

Source: Economic Times February 27, 2017 20:30 UTC