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Kishore Biyani as Undisputed Retail King, CEO and Founder of FUTURE GROUP, BIG BAZAAR & Many More... |
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| Kishore Biyani, MD & Future Group CEO |
| Graduation in commerce |
| Retail |
| Discount Stores, Supercenters |
| India |
| Future Group |
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The story of how a simple shopkeeper who started off by sold stone wash fabric to ordinary retailer and later became a retail-magnate himself. The story about Kishore Biyani and his extraordinary stunt in the business with unconventional ideas. The man who retained Indian-ness in his business concepts be it Pantaloons, Big Bazaar or Central. A must read for all enterprising entrepreneurs. His favorite mantra-”Rewrite Rules, Retain Values.
Kishore Biyani is the Group CEO of Future Group, one of India’s leading business houses with businesses in retail; capital and investment advisory services; consumer finance; insurance; brand development; retail media and logistics. Headquartered in Mumbai, the group has a footprint in 53 cities in India and employs over 25,000 people. |
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Kishore Biyani belongs to a trading family from Rajasthan settled in Mumbai for more than 60 years now. He was born in a family of traders on August, 1961, graduated in commerce from HR College, Mumbai in 1981 and initially joined his father's business. Biyani recalls that his father belonged to the old school and was a conventional businessman.
Soon Biyani began to tire of the business and chose to start a yarn-manufacturing unit, which in those days offered high margins. Of the Rs7 lakh needed, he put only Rs2 lakh, saved from his trading deals, in his father's business, and borrowed the rest from his family.
A down-to-earth man, Biyani who lives with wife Sangita and two daughters, is a firm believer in the Indian value system. He is proud of being Indian and considers Indianness as the driving principle behind the enviable success of his company |
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Biyani began to tire of the business and chose to start a yarn-manufacturing unit, which in those days offered high margins. Of the Rs7 lakh needed, he put only Rs2 lakh, saved from his trading deals, in his father's business, and borrowed the rest from his family.
Pantaloon started in 1987 as Manz Wear Pvt Ltd. Biyani took the company public in 1991, changing its name to Pantaloon Fashions (India) the following year, and then again in 1999 to Pantaloon Retail (India) Ltd. Today, the company has approximately 14,000 shareholders.
Biyani's company initially made trousers, which were sold to shops that stocked multi-brand clothes. The response was decent though not overwhelming. The same year he set up a plant at the family's premises in Mumbai installing machinery worth Rs20 lakh borrowed from banks.
The next step was to begin advertising. In the first year, Pantaloon Fashions' advertising budget was Rs17 lakh on a turnover of Rs70 lakh leaving Biyani with a profit of Rs8 lakh. The next step was to position Pantaloon in the office and casuals segment with an all-India network.
At a crucial juncture when Pantaloon Retail needed funds to expand and set up its own retail shops to stock everything under one roof, the Ahmadabad-based Arvind Mills, flagship of the Lalbhai group, asked him to market its denim brand. This helped bring in much-needed funds. In 1988-89, the launch of Pantaloon's own brand, Bare Necessities, helped establish Pantaloon in the fashion industry. |
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In 2001, Biyani evolved a pan-Indian, class-less model — Big Bazaar, a hypermarket chain, leading to the democratization of shopping in India. With Food Bazaar, a supermarket chain, he blended the look, touch and feel of Indian bazaars with western hygiene and it has now evolved into the favored destination for Indian homemakers.
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) and 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.
The company owns and manages multiple retail formats catering to a wide cross-section of the Indian society and its width and depth of merchandise helps it capture almost the entire consumption basket of the Indian consumer. Headquartered in Mumbai, the company operates through 3.5-million square feet of retail space, has over 100 stores across 25 cities in India and employs over 12,000 people. |
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| Fashion |
Pantaloons(40), Central (7), Brand Factory (6), Blue Sky, Top 10, Fashion Station, Big Bazaar (90), Lee Cooper (JV) (31), Planet Sports & Sportswear formats (54) |
| Food |
Food Bazar (135) |
| General Merchandise |
Big Bazaar, Shoe Factory (17), Navras, Electronics Bazaar (90), Furniture Bazaar (85), KB'S FAIR PRICE (72) |
| Electronics |
eZone (37), Electronic Bazzaar, STAPLES(JV) (2) |
| Home Improvement |
Home Town (7) |
| Furniture |
Collection (13), Furniture Bazaar, Home Bazaar |
| E-Tailing |
www.futurebazaar.com (Online Shopping) |
| Books & Music |
Depot (112) |
| Leisure & Entertainment |
Bowling Co., F123 |
| Wellness |
Star & Sitara, Tulsi |
| Telecom & IT |
Gen M, M Bazaar, M-Port, ConvergeM, Future Axiom |
| Consumer Durables |
Koryo, Sensei ,IPAQ |
| Service |
E Care , H Care, Future Money (120) |
| Malls |
Central (Bangalore, Hyderabad, Pune, Mumbai, Vadodara, Gurgaon, Indore) Other Specialty Formats (97) |
These are the major outlets of Future Group. Kishore Biyani as a whole (Future Group) have entered and topped their Business Categories.
1] Consumer Finance
2] Retail Real Estate Development
3] Retail Logistics |
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Company incorporated as Manz Wear Private Limited. Launch of Pantaloons trouser, India’s first formal trouser brand.
Launch of BARE, the Indian jeans brand.
Initial public offer (IPO) was made in the month of May.
The Pantaloon Shoppe – exclusive menswear store in franchisee format launched across the nation. The company starts the distribution of branded garments through multi-brand retail outlets across the nation.
John Miller – Formal shirt brand launched.
Company enters modern retail with the launch of the first 8000 square feet store, Pantaloons in Kolkata.
Three Big Bazaar stores launched within a span of 22 days in Kolkata, Bangalore and Hyderabad.
Food Bazaar, the supermarket chain is launched.
Central - India’s first seamless mall is launched in Bangalore.
Group moves beyond retail, acquires stakes in Galaxy Entertainment, Indus League Clothing and Planet Retail.
Sets up India’s first real estate investment fund Kshitij to build a chain of shopping malls.
Future Capital Holdings, the company’s financial is formed to manage over $1.5 billion in real estate, private equity and retail infrastructure funds. Plans forays into retailing of consumer finance products.
Home Town, a home building and improvement products retail chain is launched along with consumer durables format, Ezone and furniture chain, Furniture Bazaar.
Future Group enters into joint venture agreements to launch insurance products with Italian insurance major, Generali.
Forms joint ventures with US office stationery retailer, Staples.
Future Group crosses $1 billion turnover mark.
Specialised companies in retail media, logistics, IPR and brand development and retail-led technology services become operational.
Pantaloon Retail wins the International Retailer of the Year at US-based National Retail Federation convention in New York and Emerging Retailer of the Year award at the World Retail Congress held in Barcelona.
Futurebazaar.com becomes India’s most popular shopping portal.
Future Capital Holdings becomes the second group company to make a successful Initial Public Offering in the Indian capital markets.
Big Bazaar crosses the 100-store mark, marking one of the fastest ever expansion of a hypermarket format anywhere in the world.
Total operational retail space crosses 10 million square feet mark.
Future Group acquires rural retail chain, Aadhar present in 65 rural locations. |
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Ernst & Young Entrepreneur of the Year award.
Lakshmipat Singhania - IIM Lucknow Young Business Leader award.
CNBC First Generation Entrepreneur of the Year award |
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Courtesy : Web |
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* Data is at least as current as the most recent Definitive Proxy. |
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