IndiaRetailBiz

Kishore Biyani (CEO, Future Group), Santosh Desai (MD and CEO, Future Brands), Damodar Mall (CEO, Innovation and Incubation), and Sadashiv Nayak (CEO, Big Bazaar) are among the top honchos of the Future Group, who are reported to have recently met Adi Godrej and other senior officials of the Godrej group, to explore the possibility of setting up a joint venture between Future group’s flagship company Pantaloon Retail and Godrej group’s ‘Godrej Aadhaar’ and the gourmet food store ‘Nature’s Basket.’

Founded in December 2003 in Manchar of Pune District, Godrejs have now set up over 20 Aadhaar Centres across the country in the states of Maharashtra, Gujarat, Punjab, Haryana, Andhra Pradesh, Tamil Nadu, Orissa and West Bengal. These centres like many other similar organisations, like ITC’s Chaupal Sagar initiative, provide valuable technical guidance, soil & water testing services and retail services for quality products of leading companies to farmers. As a part of one stop centre to provide complete agriculture solution for farmers, Aadhaar Centres also facilitate credit to farmers and provide a platform to sell their produce. Godrejs have created a SPV (Special Prpose Vehicle) Aadhar Retail Limited as a part of Godrej Indusries Limited to give a boost to the activities of Aadhar initiative. Immediate plans included scaling up the number of Aadhar Centres to 50.

If the joint venture plans fructify, it will be a win win situation for both the groups as, while, Pantaloon would be able to garner support its rural retailing plans, Godrejs would be able to raise investments required for scaling up the specialised retailing models and make it a revenue-generating business, says an Economic Times report.

Aadhaar Centres, providing integrated agri retailing, procurement, and financing services, have a synergistic link with Nature’s Basket– a first-of-its-kind, Mumbai-based, one-stop retail chain for fresh farm, dairy, poultry and sea food products, and processed agro food products, condiments and spices, among others.