1. News
April 5, 2016

India’s Future Group closes online furniture retailer FabFurnish acquisition

Future Group has closed an all-cash acquisition of online furniture retailer FabFurnish.

Future Group has closed an all-cash acquisition of online furniture retailer FabFurnish.

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The deal comes as IKEA, a Swedish furniture retailing firm, is set to move into the Indian market by 2017.

It will bring Future Group’s complete portfolio of home furnishings and decor business under the FabFurnish brand.

The acquisition will make FabFurnish one of the largest home furnishings and decor retailers in India, reported The Economic Times.

"We are creating the largest home furnishings company in the country."

Before the latest deal, Future Group had presence in 20 cities through its Home Town furnishing business.

The financial details of the deal have not been disclosed, but the FabFurnish team will remain the same.

An early player in online furniture retailing, FabFurnish competed with rivals such as Urban Ladder and Pepperfry, reported the publication.

Biyani told the publication: "We are creating the largest home furnishings company in the country. Ikea is coming in, and it will take them at least two to three years to become an Rs 1,000 crore [rs10bn] company, and we are already there."

Free Report
img

Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.