Ashni Biyani and Avni Biyani, daughters of Kishore Biyani, the founder of the now defunct retail house The Future Group, are re-entering the retail space by launching a gourmet food store called Foodstories. According to a report by ET, the venture will be fully backed by a family office, with insights suggesting that the Narottam Sekhsaria family office (NSFO), one of the early-stage backers of Nykaa, will be providing the necessary support.
The mail sent to NSFO did not elicit a response.
The first Foodstories outlet is set to open at Ambience Mall in New Delhi.
Following the store launch, the digital content-to-commerce platform is slated to be launched by the end of March.
“Consumers can shop in stores, online, through WhatsApp, and our soon-to-be-unveiled website and app,” said Ashni Biyani.
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Foodstories will encompass an 8000-square-foot retail format dining café, offering a range of products including a wholly organic estate-to-cup coffee program, a single-origin chocolate experience, bespoke cheese, single-origin spices and dry fruits, as well as farm-sourced fruits and vegetables.
Avni Biyani said, “We’re building a community and platform for the dedicated entrepreneurs, growers, farmers, artisans, and food lovers.”
Foodstories is under the umbrella of the Biyani sisters’ startup, Honestly Italian Private Limited, which is presently running an Italian pantry essentials brand called Sorrentin.
During the pandemic, The Future Group, previously a flourishing retail company, encountered financial challenges. Consequently, it opted to divest its retail and wholesale businesses to Reliance. However, this transition was interrupted by Amazon’s intervention, citing a non-compete clause preventing The Future Group from selling its retail assets to rivals such as Reliance.
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