The Czar of Indian Retail
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Transcript of The Czar of Indian Retail
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Presented By:Mudita Joshi (22)
Neha Sinha (33)
Priyam Bansal (51)
Priyanka Jain (54)
Rhythm Mutha (75)
http://www.google.co.in/imgres?q=kishore+biyani&start=46&hl=en&sa=X&biw=1249&bih=560&addh=36&tbm=isch&prmd=imvnsob&tbnid=e7Qky6HIUu-tWM:&imgrefurl=http://www.spacedpractice.com/2011/09/kishore-biyanis-latest-interview-gst.html&docid=7-e88LuY9OgdZM&imgurl=http://2.bp.blogspot.com/-0Omb87W0gbI/Tnoli23JSpI/AAAAAAAAAJg/7FdyJ-QiMyE/s1600/Biyani.jpg&w=160&h=224&ei=p7R_T5elFZDMrQfM_7z-BQ&zoom=1&iact=rc&dur=0&sig=105040704710644444120&page=4&tbnh=167&tbnw=119&ndsp=17&ved=1t:429,r:24,s:46,i:98&tx=81&ty=101 -
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Kishore Biyani is the person whose 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.
He is known by several names:
the king of retail
the unstoppable Indian
the man who saw the future
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Kishore Biyani belongs to a trading family from Rajasthan
settled in Mumbai for more than 60 years now. He wasnever 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 butrather 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.
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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.
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Kishore Biyani was awarded the Ernst & Young
Entrepreneur of the Year 2006 in the ServicesSector and the Lakshmipat Singhania - IIM
Lucknow Young Business Leader Award by Prime
Minister, Dr. Manmohan Singh in 2006. He wasalso awarded the CNBC First Generation
Entrepreneur of the Year 2006.
He recently authored a book, It Happened In Indiathat captures his entrepreneurial journey and the
growth of modern retailing in India.
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http://www.google.co.in/imgres?q=kishore+biyani&hl=en&sa=X&biw=1249&bih=560&tbm=isch&prmd=imvnsob&tbnid=FycWU-qEiLhiSM:&imgrefurl=http://www.rediff.com/getahead/report/achievers-had-i-done-mba-i-would-never-be-an-entrepreneur/20110224.htm&docid=FUakAGEIOsLrjM&imgurl=http://im.rediff.com/getahead/2011/feb/02book.jpg&w=350&h=505&ei=arR_T-2rD8eGrAfAqP3KBQ&zoom=1&iact=hc&vpx=819&vpy=111&dur=140&hovh=270&hovw=187&tx=111&ty=109&sig=105040704710644444120&page=2&tbnh=169&tbnw=118&start=12&ndsp=18&ved=1t:429,r:10,s:12,i:133 -
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He is a strict vegetarian, and is currently off cheese and
fried foods, but will otherwise eat anything that is green.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. He used to be a lawn tennis regular but gave it upciting lack of time. He can't understand the fuss about
gyms and hasn't visited any.
He believes in taking quick decisions. The deal withBennett, 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.
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Biyani's victory isn't unexpected. India's own SamWalton (the legendary promoter of Walmart) is quick
to seize any advantage. But even size hasn't made a
difference to Biyani's vaulting ambitions and he's onan even faster trajectory of growth. He's booked over
4.5 million sq ft of space across the country, and plans
to utilize 3 million sq ft in 23 Indian cities. "Malldevelopers have him in mind before they start
constructing. His presence ensures footfalls and a
premium for the mall."
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Even Biyani concedes, "We have a store opening
virtually every fortnight; I have lost count now ofhow many I have opened."But don't let Biyani fool
you. He keeps a close watch over his empire with
the assistance of his two brothers, who are directorsin the company. He might have over 6,000
employees and 300 managers, but the buck stops
only with him. Every time a store opens, managershave 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.
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Weekly targets are fixed and reviewed every Monday.
The badshah of the bazaar jets between his storesacross the country to "spend at least six or seven
hours every week in the stores", he says.
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1] India was the Second highest Populated Country in
the World:
This made his barriers a little easy, he had the
consumers in hand and 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 from
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the Market.
3] Revolution:
India was on the move of revolution, when he
entered in this business, people not only welcomedhim, but led him to lead the retail business
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Biyani hasn't always played in the big league. Having quit
the family business, which supplied denim to Arvind
Mills, in 1987, he collected Rs 7 lakhs and set up a smallplant that produced 200 trousers a day. In the crowded
market of ready-mades, Biyani learned his first lesson - to
be heard, you need to shout louder than the rest. As aresult, though the turnover for his Bare brand was only Rs
7 lakh in the first year, he spent Rs 16 lakh advertising it.
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He also added John Miller shirts to his portfolio. This
year, Pantaloon will spend Rs 85 crores (Rs 850
million) advertising its various store formats. 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. In 1993, he
experimented with a small store format, and
Pantaloon Shoppe was launched in Panjim, Goa.
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From the Shoppe to the large store format in 1998 - this time
in Kolkata and he was proved right when the KolkataPantaloon store became a raging success and Biyani
stepped on to the turf as a super retailer. Biyani wasn't
above picking up the gauntlet and launched Big Bazaar, ahypermarket 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 workedand the rest is history.
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Kishore Biyani is the Managing Director ofPantaloon Retail (India) Limited and the Group
Chief Executive Officer of Future Group. He has led
Pantaloon Retails emergence as the Indias leadingretailer operating multiple retail formats that now
cater to almost the consumption basket of a large
section of Indian consumers.Kishore Biyani led the companys foray into
organized retail with the opening up of the
Pantaloons family store in 1997.
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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.
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.
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. In the years 2005-06-07, Pantaloon Retail, which
operates a clutch of formats including a departmentalstore (Pantaloons), hypermarket (Big Bazaar), and
malls (Central), has added 7 million square feet over the
last three years, taking its retail space to a little morethan 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.Biyani says: We are still the largest inevery category
that we operate in today 25% of the retail space in the
country is occupied by us,
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The entrepreneurial culture and spirit prevails in the
company, whereby the appetite for taking risks is
encouraged. He believes in learning while doing, and this
is what has helped him on his journey. He do not believe
in any 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 for
quick decision making, adopt design management as an
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approach which requires an individual to use both sides of
the brain while evaluating business propositions, etc.
1) Visionary:
Kishore Biyani & his Vision for Indias Retail hasmarked up significant performance. he is true visionary
when he started selling readymade garments when
nobody preferred ready-to-wear shirts or trousers. Nowhis vision is serving Indian society and which is
unchallenged.
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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, creatingbrands before he ventured in retail business of sellinggarments. He took risk in doing something new everytime.
3) Ambitious:
He was never interested in studies but did complete hiscommerce graduation and always had ambition ofmaking it big 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 a tie and jacket. He isnt a stickler forlarge cars, and has just graduated from driving a Honda
City to a Honda Accord, though hes just as content
driving around in a junior managers Maruti. So he is avery simple personality concentrated on his goals.
5) Optimistic:
Till six months ago, in his own words, Kishore Biyani was an
eternal optimist. Today, hes transformed into a realist.
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Its my next phase in life, shrugs the Chairman of
the Rs 8,600 crore Future Group, which has todaymoved 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 pessimist, he adds for good
measure.
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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.
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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 meetchallenges.
Flow: to respect and understand the universal laws of
nature.
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Kishore says:
I am not afraid of recession; I am just looking forwardto 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 mycustomer to optimum. I sold more than 50, 00,000
Persian Carpets Last years, which was nowhere in
Indian Markets. This way getting the right product iskeen for me now. 7, 00, 50,000 & 20 lakhs DVD Player.
Kishore advices for new entrepreneurs:
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Acc to him- A person who is able to work even when hecannot measure the cause and effect is an entrepreneur.
He advices:Go with your belief and dreams. Keep on pursuing it .
You must realize whether you have the ability to think
beyond.Everyone cannot be an entrepreneur.
You need to know if you are comfortable with getting intouncharted territory.
Doing Business in India is not easy, but its easy if you havethe right Business. Kishore Biyani.