Future Consumer is aiming to open five to seven stores a day from next year and will try to maintain the growth momentum, said Ashni Biyani, MD of the company.

"This year we are at a run rate of three stores per day and next year we will be five inching up to seven stores per day at the Easyday level," Biyani told CNBC-TV18 from the sidelines Forbes India's maiden 'Tycoons of Tomorrow' event.

Biyani is one of the young entrepreneurs featuring in the list of 22 young achievers.

Edited Excerpts:

How has the year been for you so far?

I think for us, it has been a positive year. We entered many large categories. We have also got the ambition of entering many newer large categories. Many joint ventures and collaborations you will see from our side by the year-end.

We have entered the biscuits category early this year, so that has been a phenomenal success for us. In many categories like digestives, we have one-third share which is overwhelming as a response to us.

Additionally, we have announced a joint venture with Fonterra. We believe that dairy is going to be the category of future and we need to be invested in it end to end and no better partner than Fonterra for us to partner with.

Therefore, we are excited. We are looking forward to the year ahead as well as the festive season coming up. Festive has been slightly delayed this year. It’s up in November but we look forward to it. I think there is a whole new demand that gets created around gifting range of products. So many of our brands and product categories like dry fruits, sweets that you will see a bigger blow off.

In terms of demand, if you compare it with last year, how do you expect the demand to pan out this festive season in terms of demand growth?

Demand is going to be steady. We believe that we have to work very hard to create the demand and lure customers and that is what we have been doing.

In terms of overall growth for this financial year, what is your estimation and what kind of growth are you expecting?

We believe that last year we have grown at around 40 percent plus CAGR. We will definitely maintain that momentum but we could look at going beyond that momentum as well. This year we are at a run rate of three stores per day and next year we will be five inching up to seven stores per day at the Easyday level.

First Published:Sept 26, 2018 4:20 PM IST