Biyani group stores may be separated

With its retail stores like Big Bazaar and Food Bazaar becoming big volume ventures, Kishore Biyani-promoted Future Group is considering hiving off retail chain brands into separate entities, which could even be listed in the long run.

A source in the know of the development said Future Group has hired consulting firm McKinsey to advise it on how the successful retail formats like Big Bazaar, Food Bazaar, Central Mall and its other retail formats could be carved out into independent units and grown even bigger.

But when The Indian Express spoke to Biyani, CEO of Future Group, he denied the development: 8220;These are mere speculations,8221; he said. Asked if Future Group has sought the services of McKinsey for formation of independent retail entities he only said, 8220;We have been working with McKinsey for the past eight months on various projects.8221;