kishore biyani

Man behind Future Group

Mr. Kishore Biyani “King of Retail”

Presented by: prashant kumar pawan nagar neha chandel chaman kumar

About kishore biyani 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.

He is known by several names: the king of retail the unstoppable indian the man who saw the future

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

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.

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.

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 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 Biyani's victory isn't unexpected. India's own

Sam Walton (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 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.

"Mall developers have him in mind before they start constructing. His presence ensures footfalls and a premium for the mall."

Even Biyani concedes, "We have a store opening virtually every fortnight; I have lost count now of how 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 directors in the company.

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.

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.

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).

RetailBrandsConsumer FinanceInsuranceCapitalVentures

MediaLogisticsLeisure & EntertainmentShopping MallsKnowledge ServicesE-Tailing

Companies Pantaloon Retail (India) Ltd. Home Solutions Retails India

Ltd. 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 India Insurance

Company Ltd. Future Generali India Life

Insurance Company Ltd.

Futurebazaar India Ltd. Weavette Texstyles Ltd. Staples Future Office

Products Private Ltd. Pan India Food Solutions

Private Ltd. Talwalkars Pantaloon

Fitness Private Ltd. ConvergeM Indus League Clothing Etam Future Fashions

Ltd. Galaxy Entertainment

Corporation Ltd. Future Venture India Ltd. Foot Mart retail

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

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.

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.

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.

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

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

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.

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.

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.

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.

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.

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.

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,”

STRENGTHSThe entrepreneurial culture and spirit prevails in the company, 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 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 approach which requires an individual to use both sides of the brain while evaluating business propositions, etc

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

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. 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.

Flow: to respect and understand the universal laws of nature.

kishore says: 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.

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

even when he cannot measure the cause and effect is an enterpreneur”,he advices;-

-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.