26185419-kishore-biyani

8/7/2019 26185419-kishore-biyani

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Man behind Future Group

MR. KISHORE BIYANIKing of Retail

Presented by:prashant kumar

pawan nagar

neha chandel

chaman kumar


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About kish

ore

biyani

Kishore Biyani is the person whos talent istransforming India Retail and IndianEconomy with his vision and power to grow.

He is the person, who stood up and is goingwell tobreak the parameters of IndianRetail.

He is known by several names:

the kingof retailthe unstoppable indian

the man who saw the future


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Kishore Biyani, belongs to a trading familyfrom Rajasthan settled in Mumbai for morethan 60 years now. He was never interested instudies but did complete his commercegraduation and always had ambition of makingit big in business. He didnt join the familytrading business but rather than tried outdifferent things on his own, like readymadegarments, textile production, creating brandsbefore he ventured in retail business of sellinggarments. he is true visionary when he startedselling readymade garments when nobodypreferred ready-to-wear shirts or trousers.


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KISHORE BIYANIS

LIFESTY

LE

Unlike most people, Kishore Biyani makesnobones about his simplicity. He's the manyou're most likely to ignore at thePantaloon or Big Bazaar store, as he standsin a corner observing the way you shop.

But make no mistake, what he may lack insartorial style, he more than makes upthrough his observation powers.


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Kishore Biyani was awarded the Ernst &Young Entrepreneur ofthe Year 2006 inthe Services Sector and the LakshmipatSinghania - IIM LucknowYoungBusiness Leader Award by PrimeMinister, Dr. Manmohan Singh in 2006. He

was also awarded the CNBC FirstGeneration Entrepreneur ofthe Year2006.He recently authored a book, It

Happened In India that captures hisentrepreneurial journey and the growth ofmodern retailing in India.


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He is a strict vegetarian, and is currentlyoffcheese and fried foods, but willotherwise eat anything that is green.

According to him, golfis a waste oftime.Instead, he's addicted to a daily half-hourwalk and does yoga twice a week.

He used to be a lawn tennis regular but

gave it up citing lack oftime. He can'tunderstand the fuss about gyms andhasn't visited any. He believes in takingquick decisions. The deal with Bennett,

Coleman & Cowas done in seven daysflat. He has never met V Banga ofUnilever in his life, and leaves the task ofrelationship building to his managers.


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HIS BUSINESS KINGDOM Biyani's victory isn't unexpected. India's own

Sam Walton (the legendary promoter ofWalmart) is quick to seize any advantage

But even size hasn't made a difference toBiyani's vaulting ambitions and he's on an evenfaster trajectory of growth. He's booked over4.5 million sq ft of space across the country,and will utilise 3 million sq ft by this year's endin 23 Indian cities.


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"Mall developers have him in mind before they startconstructing. His presence ensures footfalls and apremium for the mall."

Even Biyani concedes, "We have a store openingvirtually every fortnight; I have lost count now ofhow many I have opened."

But don't let Biyani fool you. He keeps a close watchover his empire with the assistance of his twobrothers, who are directors in the company.

He might have over 6,000 employees and 300

managers, but the buck stops only with him. Everytime a store opens, managers have to rush dailyreports for the first 45 days, and it isn't unusual forBiyani to be fixing any lacunae either over the phone

or personally in the store.


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Weekly targets are fixed and reviewedevery Monday. The badshah of the bazaarjets between his stores across the countryto "spend at least six or seven hours everyweek in the stores", he says. Even whenhe's in inspection mode, Biyani takes time

off to cut more deals. Last month he snapped up Indus League

Clothing, a garments company in which hepicked up 68 per cent equity for Rs 24 crore(Rs 240 million).


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Retail

BrandsConsumer

Finance

InsuranceCapital

Ventures

Media

Logistics

Leisure &

Entertainment

Shopping MallsKnowledge Services

E-Tailing


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Companies Pantaloon Retail (India) Ltd.

Home Solutions Retails IndiaLtd.

Future Brands Ltd.

Future Media (India) Ltd.

Future Logistics Solutions Ltd.

Convergem Communications(India) Ltd.

Pantaloon Food Product(India) Ltd.

Future Knowledge Services Ltd.

Future Capital Holdings Ltd.

Future Generali IndiaInsurance Company Ltd.

Future Generali India LifeInsurance Company Ltd.

Futurebazaar India Ltd.

Weavette Texstyles Ltd.

Staples Future OfficeProducts Private Ltd.

Pan India Food SolutionsPrivate Ltd.

Talwalkars Pantaloon FitnessPrivate Ltd.

ConvergeM

Indus League Clothing

Etam Future Fashions Ltd.

Galaxy EntertainmentCorporation Ltd.

Future Venture India Ltd.

Foot Mart retail


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Key points t

ohis success

1]India was the Second highest Populated

Country in the World

This made his barriers a little easy, He had theconsumers 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.


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3]Revolution.

India was on the move of revolution,

when he entered in this business,people not only welcomed him, butled him to lead the retail business


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Biyanis journey

Biyani hasn't always played in the big league. Havingquit the family business, which supplied denim toArvind Mills [ Get Quote ], in 1987, he collected Rs 7lakh and set up a small plant that produced 200

trousers a day. In the crowded market of readymades, Biyani learned

his first lesson - tobe heard, you need to shoutlouder than the rest. As a result, though the turnoverfor his Bare brand was only Rs 7 lakh in the first year,he spent Rs 16 lakh advertising it.

He also added John Miller shirts to his portfolio. Thisyear, Pantaloon will spend Rs 85 crore (Rs 850million) advertising its various store formats.


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The shift from manufacturing to retail wasthe critical point in Biyani's career.Distribution costs were the reason brandswere snuffed out in the market, so Biyanidecided to rewrite the rules of the game.

In 1993, he experimented with a small

store format, and Pantaloon Shoppe waslaunched in Panjim, Goa

From the shoppe to the large store formatin 1998 - this time in Kolkata And he wasproved right when the Kolkata Pantaloonstore became a raging success and Biyanistepped on to the turf as a super retailer


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Biyani wasn't above picking up the gauntlet

and launched Big Bazaar, a hypermarket in

Mumbai as a gamble, financing it mostlythrough a loan (the share price was so low he

could not have raised equity). To India's

surprise, the format worked and the rest ishistory.

KISHORE BIYANIMUST 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.


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Now, Kishore Biyani is the Managing Director of Pantaloon Retail(India) Limited and the Group Chief Executive Officer of FutureGroup. He has led Pantaloon Retails emergence as theIndias leading retailer operating multiple retail formats thatnow cater to almost the consumption basket of a large section ofIndian consumers.

Kishore Biyani led the companys foray into organised retailwith the opening up of the Pantaloons family store in 1997. This

was followed in 2001 with the launch of Big Bazaar, a uniquelyIndian hypermarket format that democratized shopping in India. Itblends the look, touch and feel of Indian bazaars with aspects ofmodern retail like choice, convenience and quality. This wasfollowed by a number of other formats including Food Bazaar,

Central and Home Town. The year, 2006 marked the evolution of Future Group, that brought

together the multiple initiatives taken by group companies in theareas ofRetail, Brands, Space, Capital, Logistics and Media.


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In last three years, Pantaloon Retail, whichoperates a clutch of formats including adepartmental store (Pantaloons),hypermarket( Big Bazaar), and malls(Central), has added 7 million square feetsover 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 1,072.54Crore in 2004-05 to Rs 5714 Crore in 2007-08.

Biyani says:We are still the largest inevery category that we operate in today 25percent of the retail space in the country isoccupied

by us,


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STRENGTHSThe entrepreneurial culture and spirit prevails in thecompany, whereby the appetite for taking risks is

encouraged. He believe in learning while doing, and this

what has helped him on his journey. he do not believe inany rigid organizational structure and instead prefer an

organization design approach. His employees are

completely empowered individuals who are encouraged to

think out of the box, use scenario planning as a tool forquick decision making, adopt design management as an

approach which requires an individual to use both sides of

the brain while evaluating business propositions, etc


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1)visionary Kishore Biyani & his Vision for Indias

Retail has marked up Significant

performance. he is true visi

onary whenhe started selling readymade garments

when nobody preferred ready-to-wearshirts or trousers. Now his vision is

serving indian society and which isunchallenged.


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2)Risk taker Kishore biyani didnt join the family

trading business but rather than triedout different things on his own, likereadymade garments, textile production,creating brands before he ventured inretail business of selling garments. He

too

k risk in doing s

omething neweverytime.


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3)ambitious He was never interested in studies but

did complete his commerce graduationand always had ambition of making itbig in business, and that he have done.


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4)simplicity Let me tell you something very special

about him, Youll never catch him in atie and jacket. He isnt a stickler forlarge cars, and has just graduated fromdriving a Honda City to a Honda Accord,though hes just as content drivingaround in a junior managers Maruti.sohe is a very simple personalityconcentrated on his goals.


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5)optimistic

Till six months ago, in his own words,Kishore Biyani was an eternal optimist.Today, hes transformed into a realist.

its my next phase in life, shrugs theChairman of the Rs 8,600 crore FutureGroup, which has today moved away fromretail into financial services (Consumerfinance and insurance), logistics and supply

chain, retail media and brand development.But I will never be a pessimisr, he addsfor good measure


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Values at future group

Indianness: confidence in ourselves. Leadership: to be a leader, both in thought and

business.

Respect & Humility: to respect every individualand 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.


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kishore says: I am not Afraid of recession, i am just

looking forward to bypass lot oftechnologies. I am just finding the rightproducts for my Consumers, whether it maybe Future Money or Central, I just need to

satisfy my customer to optimum. I sold more than 50,00,000 Persian Carpets

Last year, which was no where in IndianMarkets. this way getting the right product iskeen for me now. 70050000 & 20 lakhs DVDPlayer.


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Kishore advices for new

enterpreneurs: Acc to him- A person who is able to work

even when he cannot measure the cause andeffect is an enterpreneur,he advices;-

-Go with your belief and dreams. Keep onpursuing it-You must realise whether you have the abilityto think beyond-Everyone cannot be an entrepreneur-You need to know if you are comfortable withgetting into uncharted territory


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Doing Business in India, isnot easy, but its easy ifyou have the rightBusiness. - Kishore

Biyani.

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