Future Group’s fashion discount chain, Brand Factory recorded a business of Rs. 115 crores during the 3-day Free Shopping Weekend mega sale event that it recently organized; exceeding its expectations of doing Rs. 100 crore business, said a Future Group spokesperson.
During the sale, customers shopped for merchandise worth Rs. 5,000 by paying Rs. 2,000 (note). Several other freebies like a free shirt and a Rs. 1,000 voucher were also offered. According to the spokesperson, around 25 per cent of the Brand Factory stores saw an average daily sales of more than Rs. 1 crore as people, who got the new Rs. 2,000 note and were not able to get smaller currency in exchange of it, took advantage of the sale.
The stores cumulatively saw more than two million customers’ footfall during the three days and the company sold more than 2.5 million pieces of merchandise in the process. “On the last day of the sale, we had few instances where we had to close down our stores as the demand was more than we anticipated,” the spokesperson added.
This is the first time when Brand Factory has come out with such kind of ‘sale’ and the company will make it a yearly process going forward.