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This fundamental belief created a new kind of marketplace, forever transforming Indian retail. Today our core values continue to guide how we do business and improve the quality of life of the people we serve. At Future Group we are committed to being a catalyst of positive change in the communities, societies and business sectors in which we operate. We envision India’s transformation into the legendary 'Sone Ki Chidiya' (golden bird), taking wings once again to reach greater heights. We take pride in our Indianness. Our belief in inclusiveness for long-term sustainable growth and economic prosperity evokes trust among consumers, employees, suppliers, partners, shareholders and the community.
We share the vision and belief that our customers and stakeholders shall be served only by creating and executing future scenarios in the consumption space leading to economic development. We will be the trendsetters in evolving delivery formats, creating retail realty, making consumption affordable for all customer segments – for classes and for masses. We shall infuse Indian brands with confidence and renewed ambition. We shall be efficient, cost- conscious and committed to quality in whatever we do. We shall ensure that our positive attitude, sincerity, humility and united determination shall be the driving force to make us successful.
Indianness: Confidence in ourselves. Leadership: To be a leader, both in thought and business. Respect & Humility: To respect every individual and be humble in our conduct. Introspection: Leading to purposeful thinking. Openness: To be open and receptive to new ideas, knowledge and information. Valuing and Nurturing Relationships: To build long term relationships.
Simplicity & Positivity: Simplicity and positivity in our thought, business and action. Adaptability: To be flexible and adaptable, to meet challenges. Flow: To respect and understand the universal laws of nature.
A new normal is being defined in the Indian consumer market every day. With farreaching socio-economic changes that India has undergone in the last decade, the drivers in urban and rural India are maturing fast. With a growth strategy tempered with localization and an inclusive business model, Future Group is the only pure play local retailer poised to lead India’s consumption story with sustainable value creation.
Our multi-format retail strategy captures almost the entire consumption basket of Indian customers. As modern retail drives new demand, efficiency and consumption in new categories, our strategy is based on our deep understanding of Indian consumers. We understand the varied buying behaviour of the Indian consumer across regional ethnicities and are constantly innovating to craft strategies that address the subtle differences. Future Group's strategy is aimed at achieving inclusive, sustained and profitable growth with three levers
Customer-orientation The bottom line in each of our retail success stories is "know your customer". Insights into the soul of Indian consumers - how they operate, think, dream and line - helps us innovate and create differentiating functionally. Continuous-innovation As India's largest retailer, we understand the importance of innovation. We rethink strategies and realign businesses with increasing agility to provide diverse customer groups with refreshingly different retail experiences. Collaborative transformation Creating a collaborative environment combining our strengths with our suppliers and vendors helps us create immense value for our customers which in turn fosters matual growth.
We believe that modern Indian retail rests on the strength of two pillars – scale and efficiencies. As front-runners in both areas, we firmly believe our core responsibility lies in providing protection to customers from the overall rate of inflation. While the scale and size of our operations helps us improve efficiencies, it also ensures we deliver greater value to our customers. Our retail thrust is focussed on four principal verticals of Food, Fashion, General Merchandise and Home. These four categories together account for nearly 65% of the consumption in the country and represent mass consumer aspirations. Acknowledging this, we are creating retail pure play through divestment and demerger of non-retail businesses to concentrate our efforts on these verticals. India’s retail boom is being driven by resurgence in the economy. Modern retail still has around 6% share of the total retail spend in the country, that is estimated at around US $ 400 billion. Thus, the potential for modern retail growth in India is huge. Currently, leading retailers in mature markets occupy the top three slots by turnover, employment and value creation. As the Indian economy matures, it is upon us to make the same happen in our country.
EXECUTIVE COMMITTEE BOARD:
Kishore Biyani | Founder and Group CEO, Future Group Considered a pioneer of modern retail in India, Kishore’s leadership has led the group’s transformation into India’s leading player in the consumption sector. Regularly ranked among India’s most admired CEOs, he is the author of the book ‘It Happened in India’. He has won multiple awards from government bodies and the private sector in India and abroad and is on the board of a number of bodies, including the National Innovation Foundation in India and New York Fashion Board. Anshuman Singh | Managing Director & CEO, Future Supply Chain Solutions Ltd. In a career spanning over 18 years, Anshuman has worked in all aspects of the value chain across several industry segments such as Discrete Manufacturing, Durables, Textiles, Retail and Supply Chain with companies like Grasim, H&R Johnson, Bombay Dyeing, and Welspun Retail. He is responsible for starting the first Home Furnishings Speciality Retail Chain in the country in his last assignment as the Director and CEO of Welspun Retail Ltd. before rejoining Future Group where he created Future Supply Chains Ltd. Anshuman is a Mechanical Engineer and an MBA. Damodar Mall | Director, Integrated Food Strategy, Future Group An alumnus of IIT Mumbai and IIM Bangalore, Damodar has over two decades of experience in the FMCG and food industry. He was a co-founder of D’Mart, a supermarket chain in Western India, and was associated with Uniliver in India. Kailash Bhatia | Director & CEO, Pantaloon Retail Co-founder of the ColorPlus brand, Kailash has over three decades of valuable experience in the fashion business and is considered to be a stalwart in the Indian fashion industry. Before joining Pantaloon Retail, he was associated with Weekender, Arvind Mills and Mafatlal Industries, among other companies. K. K. Rathi | CEO, Future Ventures India Ltd. A qualified Chartered Accountant and Company Secretary with approximately 24 years of professional experience in corporate finance, strategic business planning and investment advisory, Mr. Rathi has worked in organizations such as KEC International, H&R Johnson and Motilal Oswal Private Equity Advisors. He has previously worked as Group CFO with Pantaloon Retail. Santosh Desai | Managing Director & CEO, Future Brands India Ltd. An alumnus of IIM Ahmedabad, Santosh has over two decades of experience in advertising. He was President of McCann-Erickson, India prior to his association with Future Group. A highly respected figure in the advertising and marketing community in India, Santosh is a columnist with the Times of India and several other publications and has addressed the global management boards of several multinationals, including Hershey’s, Microsoft, Philips, Unilever, Coke etc. He is also the author of the book ‘Mother Pious Lady – Making Sense of Everyday India’. Sumit Dabriwala | Managing Director, Agre Developers Ltd. An entrepreneur in his own right and an urban developer, Sumit has 21 years of corporate experience with significant exposure to the real estate sector. Before joining Future Group, he was on the Board
of Directors of Calcutta Metropolitan Group and Riverbank Holdings.He has served as a Member of Infrastructure Council in CII, Infrastructure Sub-Committee Chairman, Regional Council Member and Core Group Retail Chairman in CII (Eastern Region), and as an Infrastructure Committee Member, Executive Committee Member, and Chairman of Young Leaders Forum in the Indian Chamber of Commerce. V. Vaidyanathan | Vice Chairman and MD of Future Capital Holdings Ltd. An alumnus of Birla Institute of Technology and Harvard Business School, he joined Future Group in August 2010. Before this, he was on the Board of ICICI Bank. He has held the positions of Managing Director and CEO of ICICI Prudential Life Insurance Co, Chairman of ICICI Home Finance Company, and served on the boards of ICICI Lombard General Insurance and CIBIL. He worked with Citibank India from 1990 to 2000.
COMPETITORS OF BIG BAZAAR : 1) RELIANCE FRESH
Reliance Fresh is the convenience store format which forms part of the retail business of of Reliance Industries of India which is headed by Mukesh Ambani. Reliance plans to invest in excess of Rs 25000 crores in the next 4 years in their retail division. The company already has in excess of 560 reliance fresh outlets across the country. These stores sell fresh fruits and vegetables, staples, groceries, fresh juice bars and dairy products. A typical Reliance Fresh store is approximately 3000-4000 square. feet and caters to a catchment area of 1-2 km. Reliance Fresh, Reliance Mart, Reliance Digital, Reliance Trendz, Reliance Footprint, Reliance Wellness, Reliance Jewels, Reliance Timeout and Reliance Super are various formats that Reliance has rolled out.
Spencer's Retail is one of India’s fastest growing retail stores. It has multiple formats for retailing food, apparel, fashion, electronics, lifestyle products, music and books. It is owned by the RPG Group, a major business house. Established in 1996, Spencer’s is one of the popular destination for shoppers in India with supermarkets, hypermarkets and dailies spread all over India.
Subhiksha is an Indian retail chain with more than 1400 outlets selling groceries, fruits, vegetables, medicines and mobile phones. It was started and is managed by R Subramaniam, an IIM Ahmedabad alumni. Subhiksha plans to open 1000 outlets by December 2008. He also plans to invest Rs.500 crore to increase the number of outlets to 2000 across the country by 2009. The name Subhiksha means prosperity in Sanskrit. It opened its first store in Thiruvanmiyur in Chennai in March, 1997 with an investment of about Rs. 5 lakhs. The retail chain has seen a considerable growth by offering goods at cheaper rates and there by increasing its customer base.
4) Trent (Westside) :
Trent is the retail arm of the Tata group. Started in 1998, Trent operates Westside, one of the many growing retail chains in India. The foresight of the Tata group, which invested in retail relatively early is paying high dividends as retail is one of the booming sectors in India. The company has a turnover of Rs. 357.6 crores (FY 2005-2006) and currently operates 22 stores in the major metros and mini metros of India. An international shopping experience, a perception of values, and offering the latest styles, has created a loyal following for Westside's own brand of merchandise.
Westside operates stores in Mumbai, Ahmedabad, Bangalore, Delhi, Chennai, Kolkata, Hyderabad, Pune, Surat, Vadodara, Indore, Noida, Gurgaon, Ghaziabad, Mysore, Jaipur, Lucknow, Nagpur.
Bharti Walmart Private Limited is a joint venture between Bharti Enterprises, one of India's leading business groups with interests in telecom, agri-business, insurance and retail, and Walmart, the world’s leading retailer, renowned for its efficiency and expertise in logistics, supply chain management and sourcing. The joint venture is
establishing wholesale cash-and-carry stores and back-end supply chain management operations in line with Government of India guidelines. Under the agreement, Bharti and Walmart hold 50:50 stakes in Bharti Walmart Private Limited.The first Wholesale Cash-and-carry facility named "Best Price Modern Wholesale" Opened in Amritsar in May 2009 and subsequently in Zirakpur (Near Chandigarh), Jalandhar, Kota, Bhopal, Ludhiana, Raipur, Indore, Vijaywada, Meerut, Agra, Lucknow, Jammu, Guntur, Aurangabad ,Bathinda, Amravati ,Hyderabad and Rajahmundry.
AWARDS AND ACHIEVEMENTS
Golden Spoon Awards 2012 Most Admired Food and Grocery Retailer of the Year for its Private Labels in Big Bazaar – Future Group Retail Professional of the Year for innovation in Private Brands- Mr. Devendra Chawla, President – Food & FMCG Category ET Retail Awards 2012 FedEx Most Trusted Retailer of the Year Award – Big Bazaar TRRAIN Retail Employee of the Year Award – Mr. Jitendra Kalyani, Big Bazaar Recognition by CMO Council, USA and CMO Asia Master Brand Award - Future Supply Chains Retail Icon of the Year- Mr. Anshuman Singh, MD & CEO, Future Supply Chains Bloomberg UTV B-School Excellence Award Best educational institute in Retail- Future Innoversity
CNBC AWAAZ Consumer Awards 2011 Most Recommended Modern Retail Brand of the Year in the Popular Choice category- Big Bazaar Brand Equity’s Most Trusted Brands 2011 awards Most Trusted Retailer - Big Bazaar
Golden Spoon Awards 2011 Most Admired Food & Grocery Retailer of the Year: Private Labels – Food bazaar
Franchise India Expo 2011 Best Food And Grocery Chain Of 2011 - Food Bazaar Best Value Retailer of 2011 - Big Bazaar Best Brand Licensee In FMCG - Walt Disney Brands By Future Consumer Enterprise
Coca-Cola Golden Spoon Awards 2010 Most Admired Retail Group of the Year - Future Group Most Admired Retailer in Food Category - Food Bazaar Most Admired Retailer in Hypermarket Category - Big Bazaar
CNBC Awaaz Consumer Awards Most Preferred Multi Brand Food & Beverage Chain - Big Bazaar Most Preferred Multi Brand Retail Outlet- Big Bazaar Most Preferred Multi Brand One Stop Shop- Big Bazaar exchange4media Radio Advertising Awards (ERAA)2010 Advertiser of the year - Future Group Best Brand Integration on Radio (Retail): GOLD - Fashion@BigBazaar - RJ Style O Meter Best On Ground Activation for a client (Retail): GOLD - Fashion@BigBazaar - RJ Style O Meter Best Use of Radio in a Media Plan: SILVER – Fashion@BigBazaar - RJ Style O Meter
CNBC Awaaz Consumer Awards 2009 Most Preferred Multi Product Chain - Big Bazaar Most Preferred Multi Brand Food & Beverage Chain - Big Bazaar
Indian Retail Forum Awards 2008 Most Admired Retail Group of the year – Future Group Most Admired Retail Face of the Year - Kishore Biyani Most Admired Retailer (Hypermarket) – Big Bazaar
Coca-Cola Golden Spoon Awards 2008 Most Admired Food & Grocery Retail Visionary of the Year: Kishore Biyani. Most Admired Food & Grocery Retailer of the Year – Supermarkets: Food Bazaar. Most Admired Food & Grocery Retailer of the Year - Hypermarkets: Big Bazaar. Most Admired Retailer of the Year - Dynamic Growth in Network Expansion across Food, Beverages & Grocery: Future Group. Most Admired Food & Grocery Retailer of the Year - Consumer's Choice: Big Bazaar
The Reid & Taylor Awards for Retail Excellence 2008 Retail Leadership Award: Kishore Biyani Retail Best Employer of the Year: Future Group
CNBC Awaaz Consumer Awards 2008 Most Preferred Multi Brand Food Retail- Big Bazaar
Images Retail Awards Most Admired Retail Face of the Year: Kishore Biyani Most admired retailer of the year: Large format, multi product store: Big Bazaar Most admired retailer of the year: Food and Grocery: Food Bazaar
Ernst & Young Entrepreneur of the Year Award Ernst & Young Entrepreneur of the Year (Services) – Kishore Biyani
CNBC Indian Business Leaders Awards The First Generation Entrepreneur of the Year – Kishore Biyani
CNBC Awaaz Consumer Awards Most Preferred Large Food & Grocery Supermarket – Big Bazaar
Images Retail Awards Best Value Retail Store – Big Bazaar
Best Retail Destination – Big Bazaar Best Food & Grocery Store – Food Bazaar Retail Face of the Year – Kishore Biyani Reader’s Digest Awards Platinum Trusted Brand Award - Big Bazaar Reid & Taylor Awards for Retail Excellence Retail Entrepreneur of the Year – Kishore Biyani
Images Retail Awards 2005 Food Bazaar- Retailer of the Year(Food and Grocery) Big Bazaar-Retailer of the Year(Value Retailing)
Voted by Business Today magazine as one of the Top 20 Companies in India to watch in 2005 India’s most investor-friendly companies in the top 75 India’s Biggest wealth creators in the top 100
Images Retail Awards 2004 Food Bazaar- Retailer of the Year(Food and Grocery) Big Bazaar-Retailer of the Year(Value Retailing)