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• Kishore Biyani: New face of Indian retail, 45, is CEO, Future Group, which is designed to cater to the entire Indian consumption space.
After graduating in commerce, Biyani joined the family textiles business. Five years later he launched the first branded ready-made trouser, called Pantaloon, marketed through The Pantaloon Shoppe. Founded in 1987, as a garment manufacturing company, Pantaloon entered modern retail in 1997 with the opening of a chain of department stores, Pantaloons. In 2001, Biyani evolved a pan-Indian, class-less model — Big Bazaar, a hypermarket chain, leading to the democratization of shopping in India.
touch and feel of Indian bazaars with western hygiene and it has now evolved into the favored destination for Indian home-makers. Future Logistics (management of supply chain and distribution) and Future Media (development and management of retail media spaces). a supermarket chain. general merchandise. The group's flagship enterprise. communication products. home solutions and consumer electronics. wellness and beauty. is India's leading retail company with presence in food. he blended the look.• With Food Bazaar. The Future Group operates through six verticals: Future Retail (encompassing all lines of retail business). fashion and footwear. Pantaloon Retail. Future Space (management of retail real estate). books and music. Future Brands (all brands owned or managed by group companies). e-tailing and leisure. health. Future Capital (financial products and services). and entertainment. • • .
He was awarded the Don Sheehan International Journalist Fellowship by the Wharton School in 2005. a Hong Kong based fortnightly and Knowledge at Wharton. His articles have also appeared in Media. He studied economics at Presidency College.DIPAYAN BAISHYA • • • Dipayan Baishya is a business writer. and has been associated with thE Economic Times and Business Today. . Kolkata and is based in Mumbai.
Made in India • • In this chapter. The most interesting thing about our country is that our growth will be based on ideas and solutions rather than physical assets. the Indianess concept is strongly demanded by consumers. altruism. we know more about Kishore Biyani and his way of understanding Indian retail market! I also learned more of retailing. So KB always believed in trying to understand the needs. Predicting Indian consumer behavior becomes important in retailing He also discusses about India as consumption-led country. aspirations and buying behavior of the residents. Like. • . there are couple of emotions that determine shopping behavior which includes greed. fear and envy.
say as per fashion. KB strongly believes that consumer is always right! • Retail is like riding a bicycle up the hill. you will slide down .• He strongly believes that in “a strongly youthful. REWRITE RULES. the ones who are going to drive the trends. confidence and total lack of inhibitions ! This features youth. • In order to achieve any dream. one needs to have willingness to change. bred on success will not only drive productivity but also set a spiraling effect on consumption and income generation”. exuberant generation. if you stop pedaling. So the rules of the company also should change. This rule implies that nowadays consumer behavior is changing. RETAIN VALUES. KB is inspired by Sam Walton. .
• • • • • • Kb is role model for young entrepreneurs. Always believed in doing new things. and more modern when it comes to their lifestyles. And this is true for everyone. “The current generation is simultaneously therefore more proud about being Indian. to know more about their demands. they are far more confident of their place in the world. He maintained the balance between confidence in making choices and humility in learning. sports or beauty shows. he discovers the third C: consumptiom He used to observe people coming in his stores. he saw a little further and built a little further. and emerging as a global powerhouse in business. In essence. IT (information technology). he climbed. says Biyani. This is a generation that feels that everything is within its reach and aspires for it. than their predecessors. he said that with each step higher. whether they live in large metros or small towns. The new generation has grown up in a liberalized economy and has seen India winning in every arena. LEARNING. He dealt things with simplicity and also connected and applied routine life with business. UNLEARNING .” In this trend. .AND RELEARNING if someone asks him about his competitors.
I strongly believe that there is a hard and arduous journey that one has to undertake alone. and never had expected any support from the family…. studied various subjects and eagerly sought knowledge. we know more about the mindset of KB when he quotes “I created my own „mental‟ mentors..So he had started selling „stone wash‟ trousers and earned his first profit. Different people have mentioned their experience with KB in school life and college life.Built from scratch • In this chapter. From very beginning. early life of KB is discussed.there his entrepreneurial journey began! Here. obsessed with rationality. • • • . He had the attitude of challenging and was keen observer from very beginning. he was curious. He had this attitude of pursuing with his own ideas.
which I felt irrelevent. Moreover he also discusses about good and bad things of being in family business. believing in your own ability and going ahead.• He had faced mistakes. • . Its also making decision. Here we can know about that entrepreneurship is all about thinking big. leadership. learned and moved on.
inspired from Italian fashion. That was his first retail experience. and also hired an ad agency.Defying the odds • • In this chapter. He emphasized and concentrated more on marketing his products! • • . One day. He came up with the brand WBB. He had explored into this business of „Manz wear‟(which came to be known as Pantaloon) and got an insight into textile industry. which was new and innovative in that time and then established the brand. started selling ready-made trousers. went on for advertising worth few lakhs. we know something more about KB‟S struggles and success story of pantaloons.
trousers etc. he had visualized his business worth 100 crores.• • • • • • He emphasized in the popularity of pantaloons. The expenditure in brand building was high and it was time to raise funds from public. First franchise shop: in Goa called as Pantaloon Shoppe. Then he came across the idea of making pantaloons a one-stop destination for all apparel products for men: shirts. he moved ahead with pace. And this way. . Nextly. then onwards he decided to expand Pantaloons nationwide. ties.
This was again a challenge for all retailers how to attract the customers. prevented him not to face any foreign competition. For him. India was too big an opportunity to be missed out. . There on. However he had realized his incapability of reach that scale. he‟d realized that India has been savings-led society where women have habit to preserve stuff for long period of time. He also wanted to go for export. WHICH PROVIDED DISCOUNTS. his business principle was “ to provide the ordinary people what rich could afford” . SCHEMES. KB then had to take up customer initiative at BIG BAZAAR.• • • • • Now. when he was surveying about retail market. This principle. INNOVATIVE PROMOTIONS AND EXCHANGE PROGRAMMES.
CREATIVITY. He realized the need to scale up all these successful businesses. his business was enjoying the goodwill. but for that he had to defy many odds. and STRONG DETERMINATION he has become SUCCESSFUL.• • • Kb always updates himself with knowledge of fashion and fabric by visiting the NIFT. Finally. even over the Raymond's. but against that he could make his dream story possible. He had to give certain percentage of daily sales to bank. which was tough. ITS DUE TO HIS AMBITION. for security. POSITIVE ATTITUDE. • .
Customers wants to experience everything when they shop rather than just wasting money in shopping.The new. its selling of ideas. . In this chapter we get an in-depth study of retailing and customer behavior. there is a joy in having done something as well as you could and better than others thought you could. is not selling products. new thing • Kb decided to design Pantaloon Shoppe in the provided large space in Kolkata and open a mega store. all the frustrations. • The customer response was awesome as they treated them like a family. Some important points about retailing are as follows: Fashion for the matter of retailing. • • Despite all the difficulties.
. Kb had used the concept of visual merchandising which enables a retailer to talk more to customers Category management was another concept based upon on the belief that a customer walks into a store looking for party shirt or else. Store environment also matters. and understanding its business viability.• • • • • • The crucial aspect in retailing is to make customers relate to every product that are being sold. Moreover it requires a deep understanding of local tastes and preferences. Fashion retailing includes trend.
Customers should be given a comfortable environment and personal shopping experience • He wasn‟t money-minded. rather than the present • • • . That is. he did not drive himself by what revenues he was going to earn but by what percentage of the consumer‟s wallet he was going to attract! He always planned for Long period of term For him. achievement was more important. Growth is important Honesty helped him win the trust of investors.• • • Further important lessons to be learned from KB: according to him: CUSTOMER IS THE QUEEN. He was the only one in the industry who was betting on the future.
Once KB stood in the queue outside big bazaar to grab a deal. • • We'll know more about Big Bazaar in the next chapter. this shows how big bazaar had struck chord with its customers. then it had earned the admiration of capital markets. but for KB. most important was to reach out greater no. .• Talking about big bazaar. This was the moment of satisfaction. of customers than before.
few experiences with customers and employees and customer behavior is discussed. KB follows the Indian consumer with passion and retail . KB had decided to open up a hypermarket. customers. Less profit. more turnover. KB‟s philosophical thinking makes him totally a unique personality. Indian Customers buy fruits from local market. This had been a challenging task for retailers. Inspired from Saravana stores in Chennai. according to him is about heart. say in Philadelphia buy fruits from supermarkets. So the ‘bazaar’ big bazaar became significant here. as it would only attract little portion of Indian consumers.For god country and Big Bazaar • In this chapter. • • .
head of Big Bazaar. 49. shocking? This incident tells us not to fear in making mistake but if you have made one. its difficult to maintain. get rid of it! Totally true for modern retailing. It was established on THE PRINCIPLE OF NOT SLICING THE CURRENT OPPUTUNITY. But soon he realized that the demand for white shirts were less because .129 @ Rs.• • • • KB had given full liberty to his employees to take risk and move on with business. When he asked KB for his advice. As such the big bazaar retail model was a hit because of Sam Walton‟s retail model: Wal-mart and more inspirational book: made in America Another successful model: food bazaar which stroked the chord. However ONE question aroused. . „white shirts‟ seemed attractive. BUT GROWING IT FURTHER. BIG BAZAAR and FOOD BAZAAR. For Rajan Malhotra. KB just asked to sell the shirts worth Rs. Would kiranas survive with the arrival of modern retail outlets? KB SAID THAT WE ARE THE NATION OF SHOPKEEPERS THAT BELIEVE IN PROSPER OF KIRANAS AND CO-EXISTENCE WITH MODERN RETAIL. WERE THE GREATEST PART OF KB‟s SUCCESS.
And not losing hope. KB still wishes to be great filmmaker in the industry. • Well. In a whole chapter dedicated to his bollywood stint. KB explained about how he tried to enter into movie making in the bollywood but could not produce a huge success there. what I have learned in this section is ACCEPTING THE MISTAKE. he shared his learning from this failed attempt of movie -making.Bollywood calling • KB has even shared about his failed businesses. .
They are given training under the „gurukul‟ programme • • . and then the job. Not everyone can fit into his organization. unlearning and relearning. it generates employment 200-300 of people.Business @ the speed of Thought • KB is little hesitant about hiring people. Wherever the big bazaar is established. He never expected anything from those MBA‟s. He finds the people first. it becomes important for us to ensure that everyone who joins him. "As members of organizational for family. He wanted such people because a stable team ensures speed and continuity of the business. understands the soul of organization and he would help achieving him his potential". The ideal people who form part of his organization are those who are willing to go through the continuous process of learning.
KB‟s rural wholesale market for retailers etc. gold bazaar. So KB thought of establishing a mall without doors.• Here comes the location. he either said yes or no and due to this attitude. the dealers used to quote him the correct. home solutions retail e-zone. Then they created a group-Future group which is an umbrella entity which includes every undertakings. reasonable price. Malls are new emerging face of Indian retail. or in nearby residential places and asked whether they liked gaddar or dil chahta hai to know the tastes of consumers. the team used to undertake a survey in the local markets to know about the product. There the concept of departmental store emerged. KB did not bargain. His business expanded @ a speed of thought. central mall. He came up with many such formats like destination mall. • • • • . radio central. However consumers feel difficult or inconvenient to visit each stores. central outlets. Then coming to the prices for land.
Manipal Health Services. Gini & Jony. .• The group has partnered with many companies like liberty shoes. blue foods etc. • However the bedrock on which the organization is built is relationship.
Being in fashion business. Upon this they came up with PANTALOON GENES. design group. but they can‟t help in generating new ideas. And then they engage in collective idea-making. design is creative activity that connects the dots initially seemed to be unrelated. KB believes that every big or small idea are given shape by idiom. working with trained people is okay. connecting the emotions and feelings of customers. This team doesn‟t appoint market research. He believed in twin idea of constant growth and allowing others to grow. • • • . According to KB. You need to have creativity there. instead the team spend time on streets and observe people.The pantaloon way • In the business the human capital and creative capital is as important as financial capital. and many other companies like GE.
LEARN AND MOVE ON. • . they may have different views. One of the most necessary step they took was to completely separate ownership. governance and execution. FAILURES ARE STEADY STEPS TOWARDS SUCCESS.The business of life • • • • • This chapter mainly talks about his personal as well as the business family. Family and friends-managing the family is no less important than managing the business. Within organisation their family members mostly concentrate on building and nurturing relationships with business partners and providing an overall guidance to the business. different approaches to the business but their overall feelings are in the best interest of the company they call this collective individualism multiple belief but a single goal. SUCCESS IS THE SENSIBILITY. In their family there are a certain set of standards which no one can cross it even him. ITS AN OPPORTUNITY TO IMPROVE.
Who says elephants can‟t dance? • Creator preserver and destroyer-for an organization to grow and keep pace with the changing reality. • Reaching out direct to the customer required a thorough understanding of different customer segments. • For them gathering this knowledge was a prime focus so. • The next step was to establish their own retail chain for their fashion products and slowly they built multiple retail chain. • To begin with. every three years they have destroyed their existing organizational design. they formed pantaloon knowledge group. . it needs these tensions simultaneously. • they started of as a garment manufacturer and launched a few brands.
of things. he traps every good or positive things into his pockets(saravana stores.e. • From this I‟ve learned endless no. design thinking. i. The organization is now based on scenario planning. It has enhanced my interpersonal as well as commercial skills.conclusion • In 2006. Future group was the outcome of new thinking that has come into the organization. they took the next big leap.. Sam Walton) . The most important characteristic that I observed in Kishore Biyani is that he grabs each and every opportunity and applies them @ right time! In addition to that he doesn't mind following rules or ideas initiated by others. innovation and ideas and new area of research like meme tics.
” • However. every person’s aspirations & dreams have to be understood & more importantly.• This book is a winner from the word Go. sacrifices will have to be made. then you shall see benefit in all interactions. They see life only as a competitive arena & not a co-operative one. • His views on Trust & Relationships is significant. . addressed appropriately. To get to that level. • His quotes: ' If you approach your business with this framework in mind. to build great relationships. this is not as easy as it sounds. Therefore.' “Most businessmen make the mistake of creating an environment wherein only then win. and not on the basis of power & position. Relationships are built on principles.
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