Man behind Future Group

Mr. Kishore Biyani

“King of Retail”

Submitted to: Submitted

by:

Prof.kruti patel Kiran Shah

(96)
Purvesh
Shah(98)
Ashit
Ravani(90)
S. K. Patel Institute Of Management & Computer Studies

Gandhinagar (India)

INTRODCTION

o Kishore Biyani is the person who’s

talent is transforming India Retail and
Indian Economy with his vision and
power to grow. He is the person, who
stood up and is going well to break the
parameters of Indian Retail.
o He is known by several names:
the king of retail
the unstoppable indian
the man who saw the future

o Kishore Biyani, belongs to a trading

family from Rajasthan settled in
Mumbai for more than 60 years now.
He was never interested in studies but
did complete his commerce graduation
and always had ambition of making it
big in business. He didnt join the
 family trading business but rather than
tried out different things on his own,
like readymade garments, textile
production, creating brands before he
ventured in retail business of selling
garments. he is true visionary when he
started selling readymade garments
when nobody preferred ready-to-wear
shirts or trousers.

KISHORE BIYANI’S LIFESTYLE

o Unlike most people, Kishore Biyani

makes no bones about his simplicity.
He's the man you're most likely to
ignore at the Pantaloon or Big Bazaar
store, as he stands in a corner observing
the way you shop. But make no
mistake, what he may lack in sartorial
style, he more than makes up through
 his observation powers.

o Kishore Biyani was awarded the Ernst

& Young Entrepreneur of the Year
2006 in the Services Sector and the
Lakshmipat Singhania - IIM Lucknow
Young Business Leader Award by
Prime Minister, Dr. Manmohan Singh
in 2006. He was also awarded the
CNBC First Generation Entrepreneur
of the Year 2006.
He recently authored a book, ‘It
Happened In India’ that captures
his entrepreneurial journey and the
growth of modern retailing in India.

o He is a strict vegetarian, and is

currently off cheese and fried foods,
but will otherwise eat anything that is
green.
o According to him, golf is a waste of
time. Instead, he's addicted to a daily
half-hour walk and does yoga twice a
week.
o He used to be a lawn tennis regular but
gave it up citing lack of time. He can't
understand the fuss about gyms and
hasn't visited any. He believes in taking
quick decisions. The deal with Bennett,
Coleman & Co was done in seven days
flat. He has never met V Banga of
 Unilever in his life, and leaves the task
of relationship building to his
managers.

HIS BUSINESS KINGDOM

o Biyani's victory isn't unexpected.

India's own Sam Walton (the legendary
promoter of Walmart) is quick to seize
any advantage
o But even size hasn't made a difference
to Biyani's vaulting ambitions and he's
on an even faster trajectory of growth.
He's booked over 4.5 million sq ft of
space across the country, and will
utilise 3 million sq ft by this year's end
in 23 Indian cities.

o "Mall developers have him in mind

before they start constructing. His
presence ensures footfalls and a
premium for the mall."
o Even Biyani concedes, "We have a
store opening virtually every fortnight;
I have lost count now of how many I
have opened."
o But don't let Biyani fool you. He keeps
a close watch over his empire with the
assistance of his two brothers, who are
directors in the company.
 o He might have over 6,000 employees
and 300 managers, but the buck stops
only with him. Every time a store
opens, managers have to rush daily
reports for the first 45 days, and it isn't
unusual for Biyani to be fixing any
lacunae either over the phone or
personally in the store.
o Weekly targets are fixed and reviewed
every Monday. The badshah of the
bazaar jets between his stores across
the country to "spend at least six or
seven hours every week in the stores",
he says. Even when he's in inspection
mode, Biyani takes time off to cut more
deals.
o Last month he snapped up Indus
League Clothing, a garments company
in which he picked up 68 per cent
equity for Rs 24 crore (Rs 240 million).

KEY POINTS TO HIS SUCCESS

1] India was the Second highest Populated

Country in the World
This made his barriers a little easy, He had the
consumers in hand, he just needed to get in the right
way to drive the customers to his outlets.

2] Capital Availability.
Good Credit rating led the Biyani, to receive a good
amount of capital and support form the Market.

3] Revolution.
India was on the move of revolution, when he entered
in this business, people not only welcomed him, but
led him to lead the retail business

BIYANI’S JOURNEY

o Biyani hasn't always played in the big

league. Having quit the family
business, which supplied denim to
Arvind Mills [ Get Quote ], in 1987, he
collected Rs 7 lakh and set up a small
plant that produced 200 trousers a day.
o In the crowded market of readymades,
Biyani learned his first lesson - to be
heard, you need to shout louder than
the rest. As a result, though the
turnover for his Bare brand was only
Rs 7 lakh in the first year, he spent Rs
16 lakh advertising it.
o He also added John Miller shirts to his
portfolio. This year, Pantaloon will
spend Rs 85 crore (Rs 850 million)
advertising its various store formats.

o The shift from manufacturing to retail

was the critical point in Biyani's career.
Distribution costs were the reason
brands were snuffed out in the market,
so Biyani decided to rewrite the rules
of the game.
o In 1993, he experimented with a small
store format, and Pantaloon Shoppe
was launched in Panjim, Goa
o From the shoppe to the large store
format in 1998 - this time in Kolkata
And he was proved right when the
Kolkata Pantaloon store became a
raging success and Biyani stepped on
to the turf as a super retailer
o Biyani wasn't above picking up the
gauntlet and launched Big Bazaar, a
hypermarket in Mumbai as a gamble,
financing it mostly through a loan (the
share price was so low he could not
 have raised equity). To India's surprise,
the format worked and the rest is
history.
o KISHORE BIYANI MUST RUE THE
FACT THAT there are only 24 hours
in a day: otherwise, this “rajah of
retail”, who entered in 1987 but now
runs the biggest private retail entry,
would be growing faster still.

o Now, Kishore Biyani is the Managing

Director of Pantaloon Retail (India)
Limited and the Group Chief Executive
Officer of Future Group. He has led
Pantaloon Retail’s emergence as
the India’s leading retailer
operating multiple retail formats that
now cater to almost the consumption
basket of a large section of Indian
consumers.
o Kishore Biyani led the company’s
foray into organised retail with the
opening up of the Pantaloons family
store in 1997. This was followed in
2001 with the launch of Big Bazaar, a
uniquely Indian hypermarket format
that democratized shopping in India. It
blends the look, touch and feel of
Indian bazaars with aspects of modern
retail like choice, convenience and
quality. This was followed by a number
of other formats including Food
 Bazaar, Central and Home Town.
o The year, 2006 marked the evolution of
Future Group, that brought together the
multiple initiatives taken by group
companies in the areas of Retail,
Brands, Space, Capital, Logistics and
Media.

o In last three years, Pantaloon Retail,

which operates a clutch of formats
including a departmental store
(Pantaloons), hypermarket( Big
Bazaar), and malls( Central), has added
7 million square feets over the last
three years, taking its retail space to a
little more than 8 million sq. ft. by june
2008 and top line from Rs 1,072.54
Crore in 2004-05 to Rs 5714 Crore in
2007-08.
o Biyani says:” We are still the largest in
every category that we operate in today
25 percent of the retail space in the
country is occupied by us,”

STRENGTHS

1)visionary

Kishore Biyani & his Vision for India’s Retail has

marked up Significant performance. he is true
visionary when he started selling readymade
garments when nobody preferred ready-to-wear shirts
or trousers. Now his vision is serving indian society
and which is unchallenged.

2)Risk taker

Kishore biyani didnt join the family trading business

but rather than tried out different things on his own,
like readymade garments, textile production, creating
brands before he ventured in retail business of selling
garments. He took risk in doing something new
everytime.

3)ambitious

He was never interested in studies but did complete

his commerce graduation and always had ambition of
making it big in business, and that he have done.

4)simplicity

Let me tell you something very special about him,

You’ll never catch him in a tie and jacket. He isn’t a
stickler for large cars, and has just graduated from
driving a Honda City to a Honda Accord, though he’s
just as content driving around in a junior manager’s
Maruti.so he is a very simple personality
concentrated on his goals.
5) optimistic

Till six months ago, in his own words, Kishore

Biyani was an “eternal optimist”. Today, he’s
transformed into a “realist”. “it’s my next phase in
life,” shrugs the Chairman of the Rs 8,600 crore
Future Group, which has today moved away from
retail into financial services (Consumer finance and
insurance), logistics and supply chain, retail media
and brand development. “But I will never be a
pessimisr”, he adds for good measure
VALUES AT FUTURE GROUP

o Indianness: confidence in ourselves.

o Leadership: to be a leader, both in
thought and business.
o Respect & Humility: to respect every
individual and be humble in our
conduct.
o introspection: leading to purposeful
thinking.
o Openness: to be open and receptive to
new ideas, knowledge and information.
o Valuing and Nurturing Relationships:
to build long term relationships.
o Simplicity & Positivity: Simplicity and
positivity in our thought, business and
action.
o Adaptability: to be flexible and
adaptable, to meet challenges.

o Flow: to respect and understand the

universal laws of nature.
 KISHOR SAYS:

o I am not Afraid of recession, i am just

looking forward to bypass lot of
technologies. I am just finding the right
products for my Consumers, whether it
may be Future Money or Central, I just
need to satisfy my customer to
optimum.
o I sold more than 50,00,000 Persian
Carpets Last year, which was no where
in Indian Markets. this way getting the
right product is keen for me now.
70050000 & 20 lakhs DVD Player.
• Kishore advices for new enterpreneurs:
o Acc to him-” A person who is able to
work even when he cannot measure the
cause and effect is an enterpreneur”,he
o advices;-
o -Go with your belief and dreams. Keep
on pursuing it
 -You must realise whether you have the
ability to think beyond
-Everyone cannot be an entrepreneur
-You need to know if you are
comfortable with getting into uncharted
territory

“Doing Business in India, is not easy, but its easy if

you have the right Business”. - Kishore Biyani.