Indigenous Management System

A Report on The biographical analysis of KISHORE BIYANI In the partial fulfillment of the degree of Masters Of Business Administration (2012-13)

Banasthali University Jaipur Campus Submitted by: MBA-IInd SEM 8116 8161 8182 8190

INDEX
Sr. No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Particulars History Why did you choose that personality? Dream of the Leader SWOT Analysis Stage of Business Vision Articulation Strategies Leadership Style Awards and Recognition Bibliography Page no. 4 5 6 7 8-10 11-29 30-34 34-36 37 38

1. HISTORY
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. 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 is an Indian businessman. He is chief executive officer (CEO) of Future Group, and Managing Director of Pantaloon Retail. Biyani's Future Group has over 17 million square feet of retail space in 90 cities and 60 rural locations. He managed to raise $170 million by taking venture capital arm Future Ventures public in March 2011. Biyani is married to Sangita Biyani and they have 2 children and are based in Mumbai. His older daughter Ashni is a director of Future Ideas, group's innovation and incubation cell. Kishore is the co-author of the book "It happened in India". It is the story of Pantaloons, Big Bazaar, Central, and the Great Indian Consumer, co-authored with Dipayan Baishya. The book has sold some 100,000 copies, more than any other business book published in India so far.

2. WHY DID YOU CHOOSE THAT PERSONALITY?

Kishore Biyani isnt quite the poster boy of Indias organized retail industry. He lives its periphery ever willing to take extraordinary bets. His peers dismiss him as compulsive risk taker. He was first who dared to try out the hypermarket model. During his initial struggle period, the press fed up with his recalcitrance to meet or talk, largely ignores him. He is seldom invited for retail seminars. But Biyani didnt care. He was quite content being outsider who at the end built up his Rs220 crore business in nascent Indian retail sector. Born in a middle class trading family Kishore Biyani started his career selling stonewash fabric to small shops in Mumbai. Years later, with the launch of Pantaloons, Big Bazaar, Food Bazaar, Central and many more retail formats, he redefined the retailing business in INDIA. India's retail czar, Kishore Biyani, replaced conventional wisdom with "guts and instincts" to create Future Group, a $1 billion company that includes Pantaloon Retail, a department store group; Big Bazaar, the company's name for hypermarkets; Food Bazaar supermarkets, and Central Mall, a more upscale aggregation of merchandise. Known for his insights into Indian consumer behavior, Biyani also represents an enigma to the country's emerging retail players, both domestic and foreign. He trusted his own ability so strongly from day one that he never needed to be on the side of established hero. Like while playing game of cricket, he was ever willing to take up the opponents challenge in spite of a weak team. Out of his own confidence he encouraged his team members to give it their best, even if they were destined to lose the match. And he did everything to win the match. While in college he organized Disco Dandiya in his own locality first of its kind in south Mumbai. It was first popular trend that he picked on early and was able to capitalize on it. So as one grows and starts to learn and understand life, he starts to question as well. At a very early stage, one starts creating mental models to interpret various observations. At that point if one finds that what he has learnt on his own is different from what is being practiced in reality. He tries to distinguish the right from the wrong. He soon starts to seek answer to everything and then life transforms. So attitude of questioning is very important. Until one questions the establish way of doing things, one wont be able to come up with something new. Thus he left his family business and started his own journey- entrepreneurial journey..
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He kept looking for beachheads to realize his dreams. He tried multiple things that could be ideal for new India that was emerging.

3. DREAM OF THE LEADER

His dream was to make a place on a simple idea: Rewrite rules, retain values. His fundamental belief created a new kind of marketplace, forever transforming Indian retail. Today his core values continue to guide how he does business and improve the quality of life of the people they serve. At his Future Group they are committed to being a catalyst of positive change in the communities, societies, and business sectors in which they operate. They envision Indias transformation into the legendary 'Sone Ki Chidiya' (golden bird), taking wings once again to reach greater heights. He takes pride in being Indian. Their belief in inclusiveness for long-term sustainable growth and economic prosperity evokes trust among consumers, employees, suppliers, partners, shareholders and the community. He even mentioned in his interview with FORBES INDIA... I believe that what differentiates us from animals is imagination and fear. One of my own observations on life is that 7 out of 10 thoughts an average person has is negative. So the big question becomes How do we use reduce our fears and increase our imagination? I dream of being able to reduce the fear quotient and convert negative thoughts through imagination. We are a nation that doesnt believe in ourselves as much as we should. Even with our rich history and knowledge, we have yet to produce strong thought leaders out of India. If we are to prosper and grow, we need to plan future scenarios that not only look at economic indices but also take into account the measures of happiness, culture, and values. This is a long-term approach to planning the future of India.

4. SWOT ANALYSIS
STRENGTHS
High brand equity. Every day low price(EDLP). Real estate and Infrastructure understanding consumer preferences.

WEAKNESSES
Falling revenue/sqft. Unable to meet store opening target. Perception amongst consumers

SWOT OPPURTUNITIES
Targeting Area more prone to Development. In store experience improvements. New formats and consumption space.

THREATS
Competitors domestic and foreign. Economic Conditions.

5. STAGE OF BUSINESS (CURRENT STAGE)

Every day, Future Group brings multiple products, opportunities, and services to millions of customers in India. Through over 17 million square feet of retail space, we serve customers in 93 cities and 60 rural locations across the country. Most of all, we help India shop, save and realize dreams and aspirations to live a better quality of life every day. Future Group understands the soul of Indian consumers. As one of Indias retail pioneers with multiple retail formats, we connect a diverse and passionate community of Indian buyers, sellers, and businesses. The collective impact on business is staggering: Around 300 million customers walk into our stores each year and choose products and services supplied by over 30,000 small, medium and large entrepreneurs and manufacturers from across India. And this number is set to grow. Future Group employs 35,000 people directly from every section of our society. We source our supplies from enterprises across the country, creating fresh employment, impacting livelihoods, empowering local communities, and fostering mutual growth. We believe in the Indian dream and have aligned our business practices to our larger objective of being a premier catalyst in Indias consumption -led growth story. Working towards this end, we are ushering positive socio-economic changes in communities to help the Indian dream fly high and the Sone Ki Chidiya soars once again. This approach remains embedded in our ethos even as we rapidly expand our footprints deeper into India. BUSINESSES:

SERVICES:
While retail forms the core business activity of Future Group, group subsidiaries are present in leisure and entertainment, brand development, retail real estate development, retail media and logistics. Some of our other businesses include, mobile telephony brand, T24, operated in association with Tata Teleservices, a supply chain and logistics Infrastructure Company, and a company engaged in providing educational and training services through three Future University campuses in Ahmedabad, Bangalore and Kolkata.

FINANCE:
In the financial space, our group companies offer consumer finance and insurance to customers, as well as corporate loans and equity investments to companies engaged in consumer businesses.

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KEY GROUP COMPANIES:

RETAIL FINANCE SERVICES

Pantaloon Retail (India) Limited * Future Value Retail Limited

Future Generali Life Insurance Company Limited Future Generali (India) Insurance Company Limited Future Capital Holdings Limited * Future Ventures (India) Limited * Future Supply Chains Limited Future Human Development Limited Future Media (India) Limited Future Corporate Resources Limited

Future Group comprises operating businesses in three sectors: Retail, Allied Services, and Finance. Leveraging a strong understanding and knowledge of Indian consumer preferences, habits and aspirations, we have built some of the most respected retail brands in the country. Our retail business across the value and lifestyle segments focuses on 4 key consumption verticals: food, fashion, general merchandise, and home.

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6. VISION ARTICULATION

BUILT FROM SCRATCH:

Kishore Biyani isnt quite the poster boy of Indias organized retail industry. He lives its periphery ever willing to take extraordinary bets. His peers dismiss him as compulsive risk taker. He was first who dared to try out the hypermarket model. During his initial struggle period, the press fed up with his recalcitrance to meet or talk, largely ignores him. He is seldom invited for retail seminars. But Biyani didnt care. He was quite content being outsider who at the end built up his Rs220 crore business in nascent Indian retail sector. Born in a middle class trading family Kishore Biyani started his career selling stonewash fabric to small shops in Mumbai. Years later, with the launch of Pantaloons, Big Bazaar, Food Bazaar, Central and many more retail formats, he redefined the retailing business in INDIA. During his childhood, he used to act and behave differently much to the annoyance of some family elders. His room was filled with posters of cars and cricket stars. What really troubled others was his inclination to question every social or religious practice followed by the family. He needed logical and sound explanation behind any religious activity. He was obsessed with rationality. He trusted his own ability so strongly from day one that he never needed to be on the side of established hero. Like while playing game of cricket, he was ever willing to take up the opponents challenge in spite of a weak team. Out of his own confidence he encouraged his team members to give it their best, even if they were destined to lose the match. And he did everything to win the match. While in college he organized Disco Dandiya in his own locality first of its kind in South Mumbai. It was first popular trend that he picked on early and was able to capitalize on it. As per him, there are 3 kinds of entrepreneur- creators, preservers, and destroyers. He knew that his father and uncles much like most others entrepreneurs in India were preservers. While he was both creator and destroyer. He never believed in preserving the status quo. A continuous process of change and of growth has to be there in every business.

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So as one grows and starts to learn and understand life, he starts to question as well. At a very early stage, one starts creating mental models to interpret various observations. At that point if one finds that what he has learnt on his own is different from what is being practiced in reality. He tries to distinguish the right from the wrong. He soon starts to seek answer to everything and then life transforms. So attitude of questioning is very important. Until one questions the establish way of doing things, one wont be able to come up with something new. Thus he left his family business and started his own journey- entrepreneurial journey..

DEFYING THE ODDS:

He kept looking for beachheads to realize his dreams. He tried multiple things that could be ideal for new India that was emerging. Some of these were moderately successful but most of them had to be closed down after few years. WHITE BLUE BROWN: He got involved in launching a brand of fabric for mens trousers named it WBB. It was abbreviation of three most popular colors for trousers those days- White Blue & Brown. He used to sell these to garments manufactures and shop owners around the city. He used to regularly set up his stall at various textile exhibitions and fairs so as to what industry were up to. He also spent a few lacs rupees on advertising and hired an advertising agency. During its peak he sold almost thirty to forty thousand meters of branded fabric every month. Thus power of branding was evident with success of WBB.. ON TONGA TO TARAPUR: With short success of WBB, he went ahead and started selling readymade mens trousers. He got some 30 -40 trousers stitched and showed it to some shop owner but none of them were interested in doing business with small company. So by the end of 1985 with the help of some friends he opened 400sq. feet shop at CP tank in Bombay. It sold mens trousers and called it Patloon. That was his first retail experience. He established a small fancy yarn plant at Tarapur with Sushil Sain and named it Dhruv Synthetics. He used machines with microprocessors that gave fabric an effect of fancy yarn. During first year of operation, his company sold goods worth of crore of rupees. People were becoming more fashion conscious and they used to secure large orders from fashion designers and some exporters. But later on due to labor dispute the company had to be shut down.
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MANZ WEAR: Manz wear private limited was incorporated on 12th October 1987. He started as garment manufacture, launched a couple of brands, got into franchising, and direct marketing and ten years later plunged into modern retail. During this time, the companys name changed from manz wear to pantaloon fashion and subsequently to Pantaloon fashion retail, reflecting the changing nature of business. Within a year of its operation, the company touched a turnover of Rs 32 lakh. But it also registered loss of Rs 8 lakh. The main reason for that of course was the Rs 16 lakh spent on advertising and brand building alone. The whole industry was going through metamorphosis and he understood importance of brand building. The company was planning to increase their horizon but the biggest stumbling turned to be distribution channel and capital needed to set up a decent distribution network. So to work on plan he along with a friend opened a franchise store in Goa. It was called a Pantaloon Shoppe. The next set of Pantaloon Shoppe came in Cochin and Ernakulum in Kerela, Colaba, and Andheri in Mumbai, on Ahmadabads C.G. Road and at Chennais T. Nagar. They launched their own jeans brand, Bare Necessities. Next came idea to make Pantaloon Shoppe a one stop destination for all apparel for men-shirts, trousers, sports and denim wear, socks, ties and handkerchiefs. A brand of short was introduced under the name of knighthood. With this, the Pantaloon Shoppe got positioned as complete mens wear destination in 22 cities (1991). THE NEW NEW THING: Pantaloon is one of the leading retailer stores in the lifestyle segment of the consumer market in India. Pantaloon stands out as a fashion trendsetter, on the lines of how fashion is followed internationally. The look and whats in today for the season is sacrosanct. It offers trendy and hip fashion that defines the hopes and aspirations of today's youth. Pantaloons stores have a wide variety of categories like casual wear, ethnic wear, formal wear, party wear, and sportswear for Men, Women, and Kids. Pantaloons success and continuous growth in the Indian organized Retail market can be attributed to a number of factors, some of which have been derived from the strategies of large retailers in the west, while others are completely tailor-made for the Indian market. What is evident at the outset is that Biyani has foreseen and understood the Indian retail roadmap better than anyone else.

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Pantaloons major advantage over its competitors in the retail sector has been its unique understanding of the Indian organized retail market with all its quirks, shortcomings, and challenges. By creating a retail business from the ground-up and expanding rapidly, Pantaloon has followed a Wal-Mart-like pattern of growth. Visual merchandising is an art by which a retailer makes the store talk to customers. The colors, signage, lights, looks, and feel everything is taken into account. It is very important to figure out what is the story, the idea that they are selling to their customers. Category management as opposed to brand merchandising practice: category management is based on belief that a customer walks into a store looking for party shirt or formal trouser, rather than a particular brand. Therefore store are designed according to categories like mens formal wear, womens western wear or casual wear etc. within the organization too, teams were divided according to the categories that they managed, rather than the brands. The objective was to create traffic drivers within the store rather than make brands compete with each other. Pantaloons targets an upwardly mobile, young aspirational customer goes with the tagline, Fast Fashion. The middle aged mother walks into our stores expecting value for money and her daughter comes in because she finds it fashionable. The idea has always been to ride on two winning retail propositions- being in fashion and effective pricing He was the only one in the industry who was betting on the future, rather than the present. He was focused on scaling up the business, rather than concentrating on driving efficiency and profit margins. To me, that seemed to be the right way to approach this business at that stage. Retail is a very local business and it is difficult for a foreign player to cater to the customer base of different country retail requires a deep understanding of local taste and preferences. What is evident from this period is that foreign retailers, even with deep pockets and years of experience couldnt make much headway in India. As an indigenous retailer they had a strong advantage over foreign retailers within India. Within two years of launching, they had established a fairly pan Indian presence with pantaloons. By the end of 1999, there were thirteen Pantaloons outlets including four in Hyderabad, two in Chennai and one each in Kolkata, Vijayawada, Nagpur, Bhubaneswar, Thane and Pune.

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Further retailing was not happening sector in 1999 or was there any historical data or demand estimate of potential opportunity. Kishore was aggressive in a field that was supposed to see a lot of growth in India. The stock market was concerned about the high debt-equity ratio. But he found that it wasnt the debt that was high, it was equity base which was low. So they helped them raised through private placements.

FOR GOD COUNTRY AND BIG BAZAAR BIG BAZAAR LAUNCH

Is se sasta aur accha kahin nahi nothing captures the spirit of big bazaar better than this one liner. It is simple statement and yet it positioned Big Bazaar at the top of the Indian customers mind. It showed that big bazaar is built on foundation of entrepreneurship and simplicity. BIG BAZZAR is a chain department stores or hypermarkets, offering all types of consumer goods including general merchandise, home furnishing, crockery, cutlery, utensils, sports goods, and others at a reasonable price. The stores work on the economy model, offering the best value for money propositions for Indian consumers. About 91 big bazaar stores were in operation as of July 2010.
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The initial big bazaar model was entirely dependent on consolidators. Consolidators were people who knew the details of a particular category very well and had an industrial background. These people were dedicated traders who have no educational qualification or work experience with a blue chip company, but understood the market far better than the so-called professionals. They appointed eight consolidators to take care of sourcing for categories like plastics, utensils, luggage, furnishings and furniture, general merchandise, etc. who were given a broad matrix of the products , the targeted cost price and the margins . Based on it they procured the product, warehoused it and transported it to big bazaar outlets and made the commissions on supplies. The entire back-end was being taken care of by traders who were willing to work till midnight or deliver goods to our store on Sunday morning in their own vehicles, just to ensure customer demand has been met promptly. This allowed them to focus on front-end and concentrated their energies on serving customer in best possible manner. In order to properly manage food bazaar within big bazaar a planned step was taken. Staples, vegetables, and fruits are important categories but also were very difficult to manage. They tied with largest wholesalers at varshi APMC (Agriculture Produce for Marketing Committee) for vegetables and one of the largest wholesalers from Crawford for fruits. They were given to manage the entire back-end as well as keep their own people to manage the category within stores. It simplified the business. As a result FOOD BAZAAR AND BIG BAZAR expanded and developed without them getting involved in intricacies of each category and company focused on appealing to the customer. It became a platform for amalgamation and Kishore Biyani left a lot of value to be shared with these traders. He operated on the principle that it was not about slicing the current opportunity but about growing it further. He built a conviction that if collectively if they were able to grow the opportunity a modern retail format provided, there could be actually 3 winners the customer, the vendor and the company. In a business like retail, the primary concern should be how to understand and interpret the customer needs and anticipate what they want. No doubt one needs a good supply chain, but it shouldnt be at the cost of understanding the customers. You can always tinker around with the supply chain at the next stage, but you cant blow up customer understanding.

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So in process of growth with every store that is opened was an evolution an evolution of understanding of our customers and an improvement of what we find works with customers and what doesnt. The challenge for them is that as they grow in size and scale, they have to ensure that their supply partners grow faster and are able to meet their demands. They are working with them, funding them, and mentoring them towards this end. For example, in staples they have brought together their partners and formed together a company that will supply quality products to the store. They are investing in automation and technology for this company. They are helping the company to hire senior professionals, so it can grow fast and keep pace with their own growth and requirements. Beside, the group has raised a private equity fund, in division, that can invest in small and medium companies and brands and scale up their business. These companies have option of becoming the supply partners and leverage the company distribution network to scale up their own brand value. However big bazaar will continue to depend a lot on small and medium suppliers. A large portion of what they sell at the outlets caters to local tastes and these products have to be sourced locally. India has one of the best microentrepreneurial setups in the world and the power of micro-enterprise to cut costs and drive efficiency is unparallel. So in order to build a successful retailing model, modern retailers will need to leverage the huge power of micro-enterprise and the indigenous supply chain present in India.

BOLLYWOOD CALLING
Now by 2000, the focus shifted on building big bazaar as mass retailing brand based on a strong value proposition. Because it was clear that it was the time for hypermarket model and so they had to scale up fast and reach out to a mass customer base. The big bazaar tagline promised to offer good quality products at the cheapest price in town. And to gain the mindshare of customers, this proposition had to generate a certain amount of buzz. As retailers of garments and fashion products, they were always constrained by the amount of money, which they could spend on advertisements. By early, cricket stars and properties had become too expensive for them to afford. Movies on the other hand, seemed to be an ideal vehicle to build their brand and take it to the masses.
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A movie budget runs into at least a few crores. However, with in-film advertisements and film-merchandising, which were new concepts at that point of time, a brand message could be reached out to the huge audiences. Their thought was that if they could use this opportunity effectively, movies could become the most efficient communication vehicle for them. They were among the first people to strike a deal with ESPN in the mid-nineties. They even made a strategy to promote their pantaloons store brand through making and investing in bollywood movies to say simply. The film was an unpaid advertisement vehicle that would reach out to all the movie-going audiences across the country. Apart from producing the movie, they were also somewhat involved in creating the music for it as well. They also developed the marketing game plan for it. Their first movie was, NA TUM JANO NA HUM, which was released on 10 th may 2002A soft toy named tutu that featured in the film became very famous and was sold in various sizes at the pantaloon, even a range of mens and womens apparel had also been launched under the tag from sets of NTJNH. And their second movie was CHURA LIYA HAI TUMNE. However movie was unsuccessful but Kishore learned a lot from it, he found a couple of reasons, why he failed at the art of movie-making. One of the reasons is that there are too many variables that go into the success or failure of a movie-individual character performances and the ability of every crew member play a critical role so do a host of external factors like distribution and exhibition. The kind of movies that are getting released at the same time, and the changing customers tastes probably he lost control of most of these factors that decide a movies fate. According to Kishore, in order to be successful at making movies, one has to be in a position where he or she can control the entire value chain-the production, post production, distribution, and exhibition. The financial success of big banner movie is often sealed even before it is released.

BUSINESS @ THE SPEED OF THOUGHT

BUILDING THE TEAM: One thing it was clear for Kishore Biyani: retailing is a simple business. It was definitely much simpler than making movies and thats probably reason he fared better in retail, than in movies.
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But what one can learn from him is that we dont need any fancy degrees or years of experience to achieve all that they achieved. Rather recipe was their passion, simplicity, and humility willingness to learn and do things in Indian way. Thus few ordinary people got together believed in their dreams of achieving extraordinary things. In august 2002, the first food bazaar was launched adjacent to Big Bazaar in high street phoenix, Mumbai. They had complete hypermarket model ready and were managing 28 large format stores covering 4 lakh square feet. But then they knew in order to grow business further they needed strong senior management team. The biggest stumbling block an entrepreneur faces at this juncture is the ability to let go and allow seasonal professional to come in and drive expansion. Kishore knew that he had to bring a quality senior management team, but was hesitant about the kind of people that would suit to his organization culture. The ideal people who were part of the organization were those who were willing to go through the continuous process of learning, unlearning and relearning. To make matter worse, pantaloon retail had a certain negative perception as an employer brand due to its entrepreneurial nature. Kishore hadnt bothered to hir e a PR agency and was focused on growth rather than on his or the companys image. It was perceived to be one man show, a bania, or lala company. It is quite obvious that for any organization, it is very important to retain talented people. The reason is not that as an organization they are dependent on every colleague, but more because stable teams ensure speed and continuity. So if they needed speed they need to retain their existing talent base at same time to have continuity attract talent so that growth is at faster pace. And for these organizations they have to provide employee an environment in which they feel happy and motivated. So in the whole process of recruiting people for his team they first found his way weird and strange but later on they understand his nuances. The most crucial HR initiative that was undertaken was GURUKOOL, a residential program that is attended by new employees who joined their sales teams. This program exclusively focuses on self-development, grooming and building confidence. In addition, everyone was encouraged to pursue companysponsored professional courses, management courses at the institutes that they have tie up with. The potential of individuals to drive skies, make decision at the
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blink of an eye, and run businesses on their own is evident when one meets their store manager and teams. For example, on 26th July 2005 Mumbai flood when everything came to still for three days. Offices and shops were shut down, Mumbais lifeline, the train service was suspended, and even newspaper was not printed. However the food bazaar outlet that was nit flooded remained open through three days. The staff at the store decided to stay back and keep them open. When rains stopped, they called up customers and delivered milk and food items to their houses. None of this initiative was suggested by the business heads at the head office. Store employees came up together and rose to the occasion. In the process they raised customers expectation and proved that retail outlet is as much part of urban infrastructure as the public transport system. It was store colleagues who established their own imitative that come rain or high water, our stores would continue to serve the customer, and probably even better than on the usual days. RETAIL REAL ESTATE: In retail a real estate is a key factor and a good location does give a good head start. While more and more talented pool today has taken on the reins to deliver growth across the organization, a key enabler has been the real estate space that we have at our disposal. But they placed bet on the direct experience of the growing consumerism in the country and booked a considerable amount of retail space. Fortunately they do not pay such high rents because they secured their space before other retailers joined in and before the price shot through the roof. This foresight is now helping us deliver more value at a reasonable cost to the customers. While his team was planning for 2 lakh square feet shopping mall in Noida. Kishore was among the first few people who visited the spot and gave confidence to his team to scale up. His biggest strength is the pulse he has on the average Indian customer. It was because of his optimism and feedback that they scaled up the project 5 time and brought in eight anchor tenants. So in moving real estate market, he is the one who therefore got the lowest price and has been able to sign on more locations than anyone else. By getting in early he has far lower real estate cost structure and commands a much larger share of the retail real estate that is coming up. So when it comes to choosing the right location they mostly rely on a soft data and observation. They visit nearby markets, try to understand the kind of products that are available at the local bazaars, speak to the people in the area and observe their
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shopping patterns. For example, bollywood and retail locations may completely seem to be unrelated on the surface. Yet studying box office collections of different movies provides interesting clues on which format will be the ideal for a particular town of location. Whether a movie like Gadar or Dil Chahta Hai did better, can give a retailer an idea of the demographic profile, tastes, and preference and how open people are to change. The way Kishore judges a property is very different from the rest. He doesnt go by what anyone else says, he applies his own vision. Kishore will crystal gaze and what it will be three to five years hence. By 2004 at an organization level, they were on strong ground on two crucial ingredients that go into retail- people and real estate. With pantaloons, positioned in the lifestyle segment, and big bazaar, positioned in the value segment of the market, they had developed an extensive knowledge base about the Indian market and its customers. They thought it was an appropriate time for them to experiment with some new format and product categories. LAUNCH OF CENTRAL: Around the turn of the century, an increasing trend was slowly becoming prominent in retailing across the globe. Department stores were becoming less and less popular with customers. Last department store offered wide range of product categories from apparel luggage ,toys , crockery to home furnishes, as well as owned and managed stock of product they sold inside the store and from there ware house this were referred to as inventory of the retailer . Industry analyst started questioning whether this could still be ideal be the retail model and whether the changing retailing department stores as they knew them. On one side their specialty store that focused on a particular category and on the other there were discounter, hyper market and whole sale club that served bargain hunting customer very well. Department stores were squeezed in between and the new age shopper found there ambience to be formal and boring. So to keep pace with this strength some department store were steadily reinventing them. The most prominent among them was U.K based Selfridges chain. While this trend was becoming more and more apparent abroad, with in India to set certain consumer pattern were emerging. Like the customer visiting a mall typically walks that includes large stores and a few smaller showrooms. After that fatigue sets in and he/she is unwilling to walk into any more stores at the mall so they asked themselves, what would happen if they remove the walls between the different stores in a mall? In that case, a customer could be exposed to be multiple brands at the same time, without the necessity of working in and out of different
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store. And along with shopping they could also provide with other entertaining option. Customer could enjoy seamless shopping and entertainment experience. These three insights the metamorphosis of department stores into developed markets, customer fatigue at the existing shopping malls in India and the need to create destinations malls in Indian cities-formed genesis of the next format i.e. the central. The objective was to create retail format that was much larger and totally different from what India had seen till then. It would offer everything from multiple brands for shopping to restaurants, coffee shop, entertainment options and gaming zones all less than one roof. So if they would be able to deliver on this format they could attract customer from every part of the city, and make it city prime shopping destination. THE CENTRAL: The first central mall was launched in Bangalore in May 2004. Measuring 120000 sq. feet, it was spread across the six floors and housed over three hundred brands in category like apparel, footwear, accessories, home furnishing, music, and books. In addition there were coffee shops; food courts a food bazaar restaurants pubs and discotheque. A customer could also book tickets for movies and concerts, book travel tickets and make bill payments. What has primarily made central the destination mall for Bangalore is its location. It is located in heart of the city and lot of features was added to further establish it as the focal point of the city. The central square located outside the mall building has been made available for art exhibition, cultural performances, shows, and product launches. And in 2005, the vintage car rally was flagged off from the central flag-point, which had since become epicenter for many such events. Radio central Indias first in-house radio station were also launched .Thus central captured in all its glory that was needed for a destination mall and live up to his tag line of shop, eat and celebrate. The second central in Hyderabad was launched in heart of city in November 2004.It was more than double the size of Bangalore central apart from over hundred of brand to shop it had food court, restaurant, as well as 5 screen multiplex managed by PVR cinema. With the success of central format in Hyderabad and Bangalore it was a time to take this format to every large city in India. So before opening Pune central, the back drop for customer interface design they went around observing people noticing their spending habit and taking picture of people in various environments. In retail even a minor chain where a product is placed or shifting it oneself to
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another can increase or decrease its sale. Even to the extent of placement vis--vis the right or the left hand of the customer when she shopping can bring about dramatic improvement in sales figure .At Pune central , Kishore Biyani took educate care that no customer segment felt alienated inside the mall. There were dedicated places for senior citizen to sit and take rest but the overall ambience of mall was full of youthfulness and sprit. For College student who are regular visitor of shopping malls, there were counters selling fashion accessories, fast food point, coffee shop, pizza hut to keep young crowd engaged and to ensure that every footfall monetized. Central as a concept has now fully matured and are now ready to launch central outlets in India. The concept leverages on the large retail state they have their disposal. In 11 large cities along with their real state partner the company is developing large retail real state space says right in the city of their central outlet. EVERYTHING EVERYWHERE: While working on building the central model they were exploring how they could expand number of brands in order to attract large number of customer wallets. They went for number of acquisitions. The first one was Bangalore based Indus League Clothing. The company has a very strong management team, large manufacturing unit in Bangalore and more importantly two strong apparel brands Indigo nation and Scullery. The second company that they acquired was Galaxy Entertainment. A listed company Galaxy managed the popular Sports Bar, Brew bar, and Bowling Company on Mumbai. It was thus an interesting vehicle to understand leisure and entertainment segment where a large chunk of consumer expenditure went. Third company was Planet Sports renamed Planet retail that sales sports wear and accessories of foreign brands like Wilson, Puma, Speedo, and Converse. Along with these they started tapping other niches as well. In 2005, a new format named aLL- A Little Larger. This targeted customers who wanted to buy plus size garments but could not find in regular stores. Some other initiatives like Fashion Station- A value fashion change and Gold Bazaar to retail gold within big bazaar did not perform well. Both these failed attempts once again gave them pushes to built new business on their own. The boom in marketing was evident to everyone. So in order to get into this market they came with new subsidiary company Home solution retail, in 2005. These include Collection that caters to home furniture and furnishings, and EZone, that sells consumer durables and home electronics.

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In 2006, they launched books and music chain, depot. It aims to provide among other things a non-intimidating environment that can attract a large number of people into bookstores. The Indian market is extremely diverse and fragmented one and mass market is essentially a mass of niches. So apart from established format like big bazaar, pantaloons, food bazaar, and central they are created two dozen format that capture every need and aspect of consumer. They operated across 10 lines of businessfood, fashion & footwear, home solution & consumer electronics, book & music, health, wellness & beauty, general merchandise, communication products, e tailing, leisure & entertainment and financial product. The vision is to deliver everything, everywhere to every Indian customer in most profitable format. However, all the formats were launched keeping in mind the urban and semi-urban customer in India. But rural India accounts for 55% of total private consumption and no retailer can afford to ignore the rural consumption market. In order to target rural market they made a new initiative called Kishore Biyanis wholesale market. Rather than reaching out to every rural consumer directly we are working on a partnership model with rural retailers. Kishore Biyanis wholesale market is being designed to act as a rural hub that will connect small manufacturers with small traders and retailers. It will also have cold and dry storage facilities, parking and transport facilities and public amenities. Hence, it will build a market for rural and agric-products and also create employment opportunities. As they were setting up retail business they realize that they need to create an eco system that could keep pace with their growth. So one of the biggest challenge that came around was real state cost were steely going up and building sustainable business at existing cost was increasingly becoming difficult. While developer focused on maximizing the rent per sq feet, a retailer who occupies space in the mall wants to maximize the sales per sq feet .So rather than complaining about the issues, they decided to take on responsibility and address themselves. Future capital holding, was conceived at the back seat of Honda accrued in November 2005 Kishore moved $80 million retail real estate fund( kshitij) into FCH along with top north team of 35 people lead by Shishir Baijal . The company divided into 3 parts - idea investment and enterprise and have design the organization have to be creative free flowing and flat .In addition to kshitij they manage 350 million dollars real estate fund( horizon) , 425million dollar private equity fund (in division), 200million dollar future hotel fund. And couple of other
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on their way. Most importantly Kishore Biyani has accumulated the finest talent in shortest possible time and highly competitive time. In addition to a set management business future capital will be launching money market a financial supermarket that will offer consumer loan and products to customer within the store. It will also offer the investment product like mutual fund and insurance and thereby has in drawing in a larger chunk of consumption expenditure. Brand tries to influence customer purchase decision through advertisement in television news paper and magazine. Customer make final decision once they see the product therefore the most effective and measurable way of reaching out to customer in to media vehicle inside the store. Retailer can offer brands to advertising LCD screen place within the stores, point of sale display, kiososks, hooding inside and outside the stores. Leading this initiative, Future media subsidiary company they started offering the retail media platform to brand owner grand advertiser What is their core confidence? Their core confidence lies in understanding and delivering to Indian consumer. They wont make steel, neither will be built car nor set up large petrochemical complexes. But were ever there is a direct customer inter phase will try to capture some value in some form. In order to formally establish their presence across the entire consumption space , in 2006 they created Future Group an umbrella entity that includes every initiative that they undertake ,all their existing and new business are classified into 6 verticals retail ,capital ,brand, media space and logistic. The future for them signifies optimism growth achievement strength and rewards. Future encourages them to explore area yet unexplored, right rules yet unwritten, create new opportunity and build new success stories. Future Group based on a be leave that the future will be even better are then what it is today and the objective is to shape future and make a enduring mark in Indian consumption space of tomorrow. However it could have been foolish to assume that they can run unmanaged so many business entirely on their own , therefore through they have created multiple platform that help them bring in the knowledge of expertise of some of the best Indian and foreign companies in each of these areas. Most of the initiatives are

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manage through separate and independent companies that bring in the expertise of their partner; this is complimented by their reach in the retailing space.

The Pantaloon Way

At most companies, whether it is Indian or abroad, one notices people working within hierarchies, decision making being dominated by systems and processes and the way water-tight structure define how every initiative should be undertaken. While at Future Group, a fluid organization where anyone could take on a new responsibility and execute it the way they wanted. They got into new the areas in the hope that they will learn all the way and evolve as they go along but there this approach was highly criticized and regarded unstructured and quite chaotic.

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Retailing is completely customer led business and design management help us bring customer at the very centre of decision making process. Whether it is in finance, technology, human resources or corporate planning, every function need to think customer-first. Design-led thinking can help organization achieve that ultimately lead to better financial performance. Design is a creative activity where logic and intuition interact to develop opportunity initiate desirable change and facilitate innovation. Design is about connecting the dots that initially seems to be entirely unrelated, synthesis is the key. In retailing everything is determined by customer and customers are heavily influenced by design thats why design connects with their emotion and feelings. And therefore design has to be at the core of retailing. We live in an imperfect world and it is meaningless to strive for perfection. It is far better through striving for excellence in future prototyping has played extremely crucial role. The frequency which they launch new business or develop new format is based on two simple rule that they follow. One was to always have a backup plan. Most of the time we did not know whether an initiative would succeed but if thing went wrong we knew we could cut our losses fast and move on to backup plan. the other rule was prototyping every concept we launch always went through a prototype phase we built it on a small scale and open it to a customer interpose with an worst and learn and how customer react to it before we scaled it up. Any initiative at our org how so ever big or small it is must follow these two rules. Design process are basically is about this trial and error where in one observe the world, identifies pattern of the behavior generate idea and get the feedback, repeat the process and keep it. A good designer constantly innovates, creates, and destroys to create something even better. A significant development in institutionalizes design thinking in our strategy was the creation of idiom, an independent design and consultancy firm, based in Bangalore. A team of over a hundred and eighty designers from multi disciplines work out of the auditorium that has now been converted into an open workplace. Every small and big idea related to our customer interface is debated, discussed, prototyped has and given shape at idiom. In a span of eighteen months since it was founded, it become the think tank for their organization and incubator of ideas and innovation within the company.
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The entire team at idiom is engaged in collective idea making. The multi disciplinary thinking that gets integrated into one single design is amazing. Idiom follows a simple eight step process to identify a winning idea that can be implemented fast. Idiom incubates the idea for some time, develops insight and then expands on them. Since they work independently for their company they are able to generate richer stronger idea that is hard wired to market place.

Idiom:
Idiom work across the all facts of design from product and industrial design to communication and branding design of space stores interiors. It plays a major role in building our consumer strategy. Idiom work independently for future group and yet in many ways institutionalizes the process of innovation within the organization.

Memetics:
A meme can be anything; an image that gets easily replicated in the mass media and public consciousness, particular taste or pattern of behavior, a catchphrase that role off your tongue and sticks on your mind, or a tune, an idea, fashion trend or even a new movie. The study of mems is called memetics. It is a mixture of learning from genetics physiology, anthropology, and other social sciences thats put together for the behavioral context. Memetics can be used to interpret these trends and then influence consumer. Mems, as a fundamental property evolve via natural selection through replication, mutation, survival and competition e.g., while one idea may become extinct, other ideas survive, spared, and mutated after modification. Internist their teams working ion understanding and interpreting mems have come up with interesting ideas by identifying the emerging mems in India. From shoes with adjustable soles that can increase or decrease your height, to T-shirts that will come with Velcro appliqus or alphabets so that they can make and change graphics on the t-shirts; they are looking at innovative product that can capitalize on the emerging mems in the Indian consumption sector. Memetics has become an imp tool for them because it brings the understanding of culture and human behavior at the centre stage of developing business strategy.

Scenario planning & story telling:

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They have adapted numerous stories, from Paulo Coelhos. The alchemist to Bollywood flicks, to suit their specific need and context. While a session on how to face competition may involve a story based on a common man s interface with various companies, a vendor management strategy document can will evolve from a story about a small entrepreneur from a nondescript town, who visits the city and finds a partner in them , who will help to build and grow their business . New employees are introduced to their strategy and back ground various storytelling sessions and are then encourage developing their own story based on what they have learnt till that time. A story help to create an understanding that goes beyond just the financial no and capture the values, thought process and the soul of the organization Along with storytelling, what has played the key role in evolving their strategy in their org scenario planning is based more on intuition and imagination then on drawing firm established model. They know that they cannot extrapolate from the past to in vision the future. With the pace at which India is growing and changing it is unreasonable to use an approach that worked somewhere else and expect it to successes here. Therefore one needs to look at the future without being prejudice by the past.

Flow& learning from nature:

Business organization is living, breathing entities which grow organically. And he also believe that there is lot that org can learn from understanding nature. Nature is the best designer and very often they have been inspired nature work. In nature, there are no fundamental tension between conservation change, Order and freedom, organized and disorganized. Complex city and simplicity co exist in nature, there is continues fight for survival and yet there is harmony interdependence among all living organism The idea of flow is extremely for any business organization and it part of their organizations core value. if one believes in the idea of flow one always move on rather than getting stuck and wasting time in making decision . In most org manager keep working in circle discussing and re-discussing everything from every possible angle. And yet of the 10 decision they make only 8 turn out to right. Two still go wrong. An organization never has perfect info or complete consensus before leading a new initiative. There will always be some amount of conflict and a lot of certainty. But the movement it stops to resolve each issue and make everything certain, it moves towards stagnation. Everyone in their organization,
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irrespective of what level they work is encouraged to take initiative and make decision.

7. STRATEGY (HOW THE RESOURCES ARE MOBALISED)

A new normal is being defined in the Indian consumer market every day. With farreaching socio-economic changes that India has undergone in the last decade, the drivers in urban and rural India are maturing fast. With a growth strategy tempered with localization and an inclusive business model, Future Group is the only pure play local retailer poised to lead Indias consumption story with sustainable value creation. Our multi-format retail strategy captures almost the entire consumption basket of Indian customers. As modern retail drives new demand, efficiency and consumption in new categories, our strategy is based on our deep understanding of Indian consumers. We understand the varied buying behavior of the Indian consumer across regional ethnicities and are constantly innovating to craft strategies that address the subtle differences. Future Group's strategy is aimed at achieving inclusive, sustained, and profitable growth with three levers
CUSTOMER ORIENTAION The bottom line in each of our retail success stories is "know your customer". Insights into the soul of Indian consumers - how they operate, think, dream and line - helps us innovate and create differentiating functionally. CONTINUOUS INNOVATION As India's largest retailer, we understand the importance of innovation. We rethink strategies and realign businesses with increasing agility to provide diverse customer groups with refreshingly different retail experiences. COLLABORATIVE TRANSFORMATION Creating a collaborative environment combining our strengths with our suppliers and vendors helps us create immense value for our customers which in turn fosters matual growth.

They believe that modern Indian retail rests on the strength of two pillars scale and efficiencies. As front-runners in both areas, they firmly believe their core responsibility lies in providing protection to customers from the overall rate of
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inflation. While the scale and size of our operations helps them improve efficiencies, it also ensures they deliver greater value to their customers. Their retail thrust is focused on four principal verticals of Food, Fashion, General Merchandise, and Home. These four categories together account for nearly 65% of the consumption in the country and represent mass consumer aspirations. Acknowledging this, they are creating retail pure play through divestment and demerger of non-retail businesses to concentrate our efforts on these verticals. Indias retail boom is being driven by resurgence in the economy. Modern retail still has around 6% share of the total retail spend in the country that is estimated at around US $ 400 billion. Thus, the potential for modern retail growth in India is huge. Currently, leading retailers in mature markets occupy the top three slots by turnover, employment, and value creation. As the Indian economy matures, it is upon us to make the same happen in their country. Future Group was conceived as a force to drive domestic consumption and capture every addressable need of Indian consumers. They have different braches like:

RETAIL
Future Group makes every effort to delight its customers, tailoring store formats to changing Indian lifestyles and adapting products and services to their desires. We operate some of Indias most popular retail formats. Across value and lifestyle segments, our multi-format retail strategy caters to the complete consumption needs of a wide cross-section of Indian consumers.
LIFESTYLE VALUE AND HOME DIGITAL
STY;E FOR EVERY OCCASSION. HELPING INDIA SAVE. BUILDING DREAMS IN A NEW INDIA. CONNECTING THE YOUTH OF INDIA.

As modern retail drives fresh demand and consumption in new categories, our strategy is based on a deep understanding of Indian consumers, the products they want, and making these products available in every city, in every store format. Future Group offers innovative offerings at affordable prices tailored to the needs of every Indian household. Pioneers in the Indias retail space, our formats are household names in more than 93 cities and 60 rural locations across the country
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Our stores cover around 17 million square feet of retail space and attract around 300 million customers each year Pantaloon Retail (India) Limited focuses on the lifestyle retail segment led by the Pantaloons and Central formats Future Value Retail focuses on the value retail segment through the Big Bazaar, Food Bazaar, and KBs Fairprice formats.

FINANCE
Created on the foundation of our belief to help the Indian dream fly high, our finance business aims to empower people to pursue their dreams. Our finance solutions, an important component of our business portfolio, aim to help enterprises transform and differentiate their offerings. Future Group has broadened its finance services portfolio to strengthen its position in the highly competitive consumer market through user-friendly and dynamic services based on Indian consumer needs. Our group companies provide consumer finance and insurance to customers besides offering corporate loans and equity investments to companies engaged in consumer businesses. The key aspect of our business model is to provide a unique personalized customer experience to expand and capture a greater share in the highly competitive finance market and help people realize the Indian dream. Financing Dreams Future Groups financial arm - Future Capital Holdings Limited (FCH) is a provider of financial services across consumer and wholesale businesses, with aspirations to grow into a significant financial conglomerate. Conceptualized around a unique positioning of a financial services business, integrated with a retail chain, Future Capital is establishing financial superstores within the Retail stores of Future Group such as Big Bazaar, E-zone and Home Town to create Indias first consumer-centric retailer of financial products and services Securing Lives Future Groups foray into life and non-life insurance services and products is led through Future General India Life Insurance Company and Future General India Insurance Company, respectively. These ventures are in partnership with Italys General Group that is amongst the three largest insurance companies in Europe and is ranked amongst the Top 50 on the Fortune 500 list. Enabling Entrepreneurship
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Future Ventures promotes and participates in innovative and emerging business ventures in India. We aim to empower entrepreneurship by focusing on consumption-led sectors in the country such as Fashion, FMCG, Food Processing, Home Products, Rural Distribution, and Vocational Education. We also participate in businesses where we can exercise control and add value as an active shareholder by utilizing the experience and knowledge of Future Group.

SERVICES
In a highly competitive retail marketplace with changing consumer preferences, different formats and large geographical spread, retail logistics is a critical business activity. At Future Group we believe the viability of a retail operation hinges as much on achieving efficient logistics and supply chain as it does on attaining success at the front end. A seamless logistics function to move our products from the manufacturer to our store shelves is at the heart of our retail operations. Our robust presence in logistics and supply chain helps us move millions of products to customers each day of the year across India in the most efficient and cost-effective manner Future Supply Chains, a specialized subsidiary, offers a strategic, focused, and consolidated approach to meet the groups large supply chain requirements as well as those of select suppliers and business partners. Future Supply Chains provides integrated end-to-end supply chain management, warehousing and distribution, multi-modal transportation and container freight stations. Operates 5 major verticals: Warehousing, Transportation, International Logistics, Brand Distribution and Reverse Logistics Current warehouse footprint of over 3.5 million square feet with 67 warehouses across 32 locations. Dedicated fleet of over 400 vehicles and an outsourced fleet of 400 trucks that move goods across India in the most efficient and cost-effective manner Li & Fung, the Hong Kong-based largest retail supply chain company, is an investor and partner of Future Supply Chains.

PAYBACK LOYALTY PROGRAMME

Future Group has taken the whole concept of customer loyalty to the next level by joining hands with PAYBACK. PAYBACK is Indias largest and one of Europes most successful multi-partner loyalty programs. With PAYBACK, customers can shop, save and get rewarded. This program enables consumers to collect millions
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of points across online and offline partners with just a single card. Customers can accumulate points across Future Group formats, thereby making shopping rewarding. What Is PAYBACK? PAYBACK is Europe's leading customer loyalty program, headquartered in Germany, with a total of 25.5 million active cardholders in Germany and Poland. In India, PAYBACK consolidated its position after taking a major stake in I-Mint. Today, with more than 30 partners with 1,500 outlets and 10 million card members, its the only program which works with market leading pan -India players from the banking, travel, petroleum, and online sectors such as ICICI Bank, HPCL, Univercell, BookMyShow, and MakeMyTrip. Now that Future Group has become a part of this bandwagon, customers are bound to earn points at every step from formats like Big Bazaar, Food Bazaar, Pantaloons, Central, Home Town, eZone, Brand Factory and Future Bazaar. These points can then be redeemed for air miles, movie tickets, air tickets and vice versa. With Future Group and PAYBACK Shopping is Rewarding. Benefits of payback Our formats Big Bazaar, Food Bazaar, Pantaloons, Central, Home Town, eZone, Brand Factory and Future Bazaar are a part of the PAYBACK Loyalty program.

8. LEADERSHIP STYLE
Since his young age, he had a rational thinking. He would question each and everything and do it if he found some logic behind it. He was an introvert and shy person at young age. He believed in the ideology i.e. create and destroy. He would observe people, judge them and then accordingly associate or dissociate from them. He has got following characteristics: VISIONARY-He is a 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. RISK TAKER-He tried out different things on his own, like readymade garments, textile production, creating brands before he ventured in retail business of selling garments.
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 AMBITIOUS-He always had ambition of making it big in business, and that he has done. SIMPLICITY-Youll never catch him in a tie and jack et. He doesnt drive expensive cars. He has got all the TRAITS OF AN EFFECTIVE LEADER:

INTELLIGE -NCE INTEGRITY SENSTIVIT -Y

SELF CONFIDE N-CE

INTERNAL LOCUS OF CONTROL

HIGH ENERGY

FLEXIBILIT -Y

At every stage in life, one learns and matures and sees new scenarios, new opportunities, and new possibilities. In a fast growing economy, one focuses on growing revenues, exploring new businesses. In a subdued economy, growth has to be multi-dimensional growth could mean growing efficiencies, growing margins and getting more from the same. Even today, they are just as ambitious, but our ambition is more about getting more from the same scale of business or operations or resources through better productivity and better execution. The pace
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of change is increasing every day there are new trends, new technologies and often contra-trends as well. Each of these brings new challenges and opportunities depending upon how innovative and agile one is. For leaders of tomorrow, coping with change, and even benefiting from it, will be the biggest challenge. First generation entrepreneurs start with almost nothing and therefore have little fear of failure. As business grows, achievements, success and scale come in, and then people often fear losing these. That affects fresh thoughts and innovation in the enterprise. Second-generation entrepreneurs, who can overcome this and pursue new ideas, and not just act as preservers of an enterprise, will create a name for themselves.

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9. AWARDS AND RECOGNITION

Starting from 2003 they have been awarded many a times like in 2003 Indian Express Award and Idusland Bank(India brand summit) Images Fashion Award in the year 2008, 2009, 2010, 2011, & 2012. Images Retail Award in the year 2004, 2005, 2007 Reid & Taylor and DLF Awards in the year 2004, 2006, and 2008 Retail Asia Pacific Top500 Awards in 2006 & 2008, Singapore, Asia Money Awards2006, Ernest And The Young Entrepreneur Of The Year Award2006, CNBC Indian Business Leaders Award 2006 CNBC Awaz Consumers Awards In 2006,2008,2009,2010.2011 World Retail Congress Barcelona Award2007 &2009 , Coca Cola Golden Spoon Awards in the year 2008, 2009 & 2010 The India Star Award 2008, The Gurukul Awards 2009 Asias Best Employer Brand Awards2010 Golden Spoon Awards in the Year 2010 And 2011. ICAI awards 2011, Food retail & SCM and Agro Logistics Summits & Awards 2011 Star News Brand Excellence Awards 2011 DNA & Stars Of The Industry Group Innovative B-SCHOOL Award 2011, And recently he has been awarded in the year of 2012 with CISO Awards, Golden Spoon Awards, Images Fashion Award, ET Retail Awards Bloomberg UTV B-School Excellence Award.

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10.

BIBLIOGRAPHY

1. Baishya Dipayan, Biyani Kishore. IT HAPPENED IN INDIA, Rupa & Co.2007. 2. Kamath, Raghavendra. "Pantaloon's woes: High debt, slow sales", Business Standard. Retrieved 3 May 2012. 3. Srivastava, Samar. "A Person of the Year: Kishore Biyani". Forbes India. Retrieved 3 May 2012 4. "Retailer Kishore Biyani: 'We Believe in Destroying What We Have Created'". November 1, 2007. Retrieved November 16, 2012 5. Kamath, Raghavendra. "Pantaloon's woes: High debt, slow sales". Business Standard. Retrieved 3 May 2012. 6. The Times, London, 14 January 2008, In India, giving the customers what they want means offering the art of chaos 7. Outlook Business, The Atheist Turns to Mythology, 4 April 2009, 8. Future group official sitehttp://www.futuregroup.in/aboutus/milestones.aspx 9. The National. The making of India's retail King, October 15, 2009 10.http://www.futureretail.co.in/ 11. http://www.in.com/kishore-biyani/biography-413.html 12.http://investing.businessweek.com/research/stocks/people/person.asp?person Id=141237&ticker=141224 13.It Happened in India Kishore Biyani's Story | People at Work & Play, Nov 27, 2007 http://bprao.wordpress.com/2007/11/27/it-happened-in-indiakishore-biyanis-story/ 14.Wal Mart and BIG BAZAAR : A comparitive analysis - SlideShare, April 12 2009, http://www.slideshare.net/parasDeshpande/wal-mart-and-bigbazaar-a-comparitive-analysis 15.Kishore Biyani - Wikipedia, the free encyclopedia , November 16, 2012. http://en.wikipedia.org/wiki/Kishore_Biyani

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