IT HAPPENED IN INDIA- KISHORE BIYANI

Dipayan Baishya

BY:

APARNA DAS(121307)

G RAKESH(121332)

SANDEEP RAMISHETTY(121338)

INTRODUCTION

Kishore Biyani new face of Indian retail is CEO OF Future Group

After graduating in commerce, Biyani joined the family textiles business

He launched the first branded ready-made trouser, called Pantaloon, marketed through The Pantaloon Shoppe Founded in 1987

Pantaloon entered modern retail in 1997

In 2001, Biyani evolved a pan-Indian, class-less model — Big Bazaar, a hypermarket chain, leading to the democratization of shopping in India

Later Food Bazar a Supermarket Chain

The Future Group operates through six verticals:

Future Retail (encompassing all lines of retail business)

Future Capital (financial products and services)

Future Brands (all brands owned or managed by group companies)

Future Space (management of retail real estate)

Future Logistics (management of supply chain and distribution)

Future Media (development and management of retail media spaces)

The group's flagship enterprise, Pantaloon Retail, is India's leading retail company with presence in food, fashion and footwear, home solutions and consumer electronics, books and music, health, wellness and beauty, general merchandise, communication products, e-tailing and leisure, and entertainment.

MADE IN INDIA

This tells about retailing aspect as, there are couple of emotions that determine shopping behavior which includes greed, altruism, fear and envy

Kishore Biyani believed in trying to understand the needs, aspirations and buying behavior of the residents

He also discusses about India as consumption-led country

Most interesting thing about our country is that our growth will be based on ideas and solutions

He strongly believes that in “a strongly youthful, exuberant generation, bred on success will not only drive productivity but also set a spiraling effect on consumption and income generation”

He also believes that youth, the ones who are going to drive the trends

REWRITE RULES, RETAIN VALUES. Kishore Biyani inspired by Sam Walton

rule implies that nowadays consumer behavior is changing, say as per fashion so, rules of the company also should change

He strongly believes that consumers are always right

Biyani Says,

The new generation has grown up in a liberalized economy and has seen India winning in every arena, and emerging as a global powerhouse

The current generation is simultaneously therefore more proud about being Indian, and more modern when it comes to their lifestyles, than their predecessors

This is a generation that feels that everything is within its reach and aspires for it. And this is true for everyone, whether they live in large metros or small towns”.

BUILT FROM SCRATCH

Early life of Kishore

From very beginning, he was curious, obsessed with rationality

He had the attitude of challenging and was keen observer from very beginning

So he had started selling ‘stone wash’ trousers and earned his first profit

He had this attitude of pursuing with his own ideas and even faced mistakes, learned and moved on

Here we can know about that entrepreneurship is all about thinking big, believing in your own ability and going ahead

Moreover he also discusses about good and bad things of being in family business.

DEFYING THE ODDS

Came up with the brand WBB, went on for advertising worth few lakhs, and also hired an ad agency

One day, inspired from Italian fashion, started selling ready-made trousers.

Explored into this business of ‘Manz wear’ (which came to be known as Pantaloon)

First franchise shop in Goa called as Pantaloon Shoppe

came across the idea of making pantaloons a one-stop destination for all apparel products for men and visualized his business worth 100 crore

It was time to raise funds from public. He also wanted to go for export

For him, India was too big an opportunity not to be missed out his business principle was “to provide the ordinary people what rich could afford”

When he was surveying about retail market, he’d realized that India has been savings-led society where women have habit to preserve stuff for long period of time

This was again a challenge for all retailers how to attract the customers

Kishore then had to take up customer initiative at Big Bazaar which provided discounts, schemes, innovative promotions and exchange programs

Kishore always updates himself with knowledge of fashion and fabric by visiting the NIFT

Finally, his business was enjoying the goodwill, even over the Raymond's, but for that he had to defy many odds

He had to give certain percentage of daily sales to bank, for security, which was tough, but against that he could make his dream story possible

THE NEW, NEW THING

Kishore decided to design Pantaloon Shoppe in the provided large space in Kolkata and open a mega store

In this he provides an in-depth study of retailing and customer behavior

Fashion for the matter of retailing is not selling products, its selling of ideas

Customers wants to experience everything when they shop rather than just wasting money in shopping.

Kishore 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

Fashion retailing includes trend, and understanding its business viability Moreover it requires a deep understanding of local tastes and preferences

Customers should be given a comfortable environment and personal shopping experience

He wasn’t money-minded, achievement was more important. 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, Growth is important

Honesty helped him win the trust of investors.BOLLYWOOD CALLING 

Kishore has even shared about his failed businesses.• He explained about how he tried to enter into movie making in the

Bollywood but could not produce a huge success there. • In a whole chapter dedicated to his Bollywood stint, he shared his

from this failed attempt of movie -making. • Well, what I have learned in this section is accepting the mistake,

and not losing hope. Kishore still wishes to be great filmmaker in the industry.

FOR GOD, COUNTRY AND BIG BAZAAR

In this few experiences with customers and employees and customer behavior are discussed

Kishore’s philosophical thinking makes him totally a unique personality.

Indian Customers buy fruits from local market, customers; say in Philadelphia buy fruits from supermarkets.

This had been a challenging task for retailers, as it would only attract little portion of Indian consumers. So the ‘bazaar’ big bazaar became significant here.

Kishore Biyani follows the Indian consumer with passion and retail

Inspired from Saravana stores in Chennai, Kishore Biyani had decided to open up a hypermarket. Less profit, more turnover.

KB had given full liberty to his employees to take risk and move on with business.

Another successful model: food bazaar which stroked the chord. It was established on the principle of not slicing the current opportunity, but growing it further. Big bazaar and food bazaar were the greatest part of Biyani’s success

BUSINESS @ THE SPEED OF THOUGHT Kishore Biyani is little hesitant about hiring people He never

expected anything from those MBA’s.

ideal people who form part of his organization are those who are willing to go through the continuous process of learning, unlearning and relearning

He finds the people first, and then the job. He wanted such people because a stable team ensures speed and continuity of the business

He did not bargain for the price of lands, he either said yes or no and due to this attitude, the dealers used to quote him the correct, reasonable price

Malls are new emerging face of Indian retail. However consumers feel difficult or inconvenient to visit each stores.

So Kishore thought of establishing a mall without doors there the concept of departmental store emerged

His business expanded @ a speed of thought. He came up with many such formats like destination mall, central mall, radio central, central outlets, gold bazaar, and home solutions retail e-zone etc lead to future group

THE PANTALOON WAY

In the business the human capital and creative capital is as important as financial capital.

According to Kishore Biyani, and many other companies like GE, working with trained people is okay, but they can’t help in generating new ideas. You need to have creativity there.

Being in fashion business, design is creative activity that connects the dots initially seemed to be unrelated, connecting the emotions and feelings of customers.

KB believes that every big or small idea is given shape by idiom, design group. This team doesn’t appoint market research instead the teams spend time on streets and observe people. And then they engage in collective idea-making.

He believed in twin idea of constant growth and allowing others to grow. Upon this they came up with PANTALOON GENES

THE BUSINESS LIFE

This mainly talks about his personal as well as the business family.

In their family there are a certain set of standards One of the most necessary steps they took was to completely separate ownership, governance and execution.

Within organization their family members mostly concentrate on building and nurturing relationships with business partners

 WHO SAYS ELEPHANT’S CAN’T DANCE

Creator preserver and destroyer-for an organization to grow and keep pace with the changing reality, it needs these tensions simultaneously

To begin with, every three years they have destroyed their existing organizational design. They started off as a garment manufacturer and launched a few brands.

The next step was to establish their own retail chain for their fashion products and slowly they built multiple retail chain.

Reaching out direct to the customer required a thorough understanding of different customer segments For them gathering this knowledge was a prime focus so, they formed pantaloon knowledge group.