Subscribers will get free talk-time based on their purchases at the group's stores.
The concern is that the scheme may not take off, like its precursor in the previous five-year plan.
Biyani said he wanted to make amends for the steep pricing of the Future Capital IPO, which resulted in heavy losses for investors.
Kishore Biyani's Future Group is getting its act together on supplying its private labels outside the group's 1,000-odd outlets, even as Mukesh Ambani's Reliance Retail has already marched ahead by starting to sell some of its private brands to kiranawalas (independent stores).
Big Bazaar stores have sold 900 Nano cars since February, when Tata Motors made the arrangement.
Battling back spasms and forgettable batting form, he led fellow warriors to do a miracle in the middle.
Protests following the arrest of Maharashtra Navnirman Sena chief Raj Thackeray on Tuesday crippled retail businesses in and around Mumbai, the commercial capital of the country
Kishore Biyani, the founder of Future Group, is treading cautiously with the initial public offer of his venture capital arm, Future Ventures, this time.
R C Agarwal, promoter of beleaguered Vishal Retail, on Wednesday came out in support of the offer from Texas Pacific Group (TPG) in preference to that from Kishore Biyani's Future Group.
Vaidyanathan, former managing director and CEO of ICICI Prudential Life Insurance, as a sign-on bonus got 20 lakh (2 million) warrants worth Rs 47.40 crore (Rs 474 million), DNA said.
Vaidyanathan's compensation is 'a performance-linked booty'.
'Anything you buy from any Future outlet should have financing options by us'
Yesterday, we carried the tale of a reader's unpleasant shopping experience and invited you to write in with yours. Here is the first set of responses we've received!
Clearing the air on the issue of succession and the role of professionals in the group, the younger Biyani (Rakesh) said, "I find it very awkward to think so early about succession when my elder brother, Kishore, is still young, not even 50. I wonder why nobody asks who is going to succeed Mukesh Ambani, who owns the biggest business empire in the country."
The disclosure comes within days after Kishore Biyani-owned Pantaloon Retail said that same store sales in December dropped for the first time in four years. Analysts were more surprised at the drop in value retailing, which indicated that value retailers were not benefiting from downtrading.
Kishore Biyani, who owns the Future Group and its associated retail chains, is seeking support from rival retailers to challenge the might of Hindustan Unilever, Cadbury, Britannia and other confectionary, food and fast moving consumer goods companies (FMCG) to bargain for higher margins.
Kishore Biyani, founder and CEO of the Future Group, has emerged as the largest and perhaps the most successful retailer in India. Here he looks back at successes, failures and other defining moments in his entrepreneurial life.
The company obtained its shareholders' approval for its plans in the extraordinary general meeting held on Tuesday. This is the second time the Kishore Biyani-led Pantaloon is using the QIP route to raise money. The first time was three years ago, when the company raised Rs 260 crore (Rs 2.6 billion) by selling shares to institutions in 2006.
Kishore Biyani-promoted Future Group company Pantaloon Retail is hiving off four of its business divisions, including Big Bazaar and Food Bazaar, into independent subsidiaries, keeping the option open for listing them in future. The Board of Pantaloon Retail on Tuesday approved setting up of wholly-owned subsidiary companies for Big Bazaar, Food Bazaar, Speciality Retail Business Activities and Property and Mall Management Division.
Consider this: Kishore Biyani's Future Group, which owns the country's largest retailer Pantaloon, is converting the standalone stores of book and music chain Depot into shop-in-shops within Big Bazaar. While the number of Depot shop-in-shops has risen to 123, that of standalone stores has come down to nine. Same with UK-based footwear brand Lee Cooper.
Retail chain set to spin off Big Bazaar, Food Bazaar, create holding firm.
Today, the chairman of Vishal Retail is eagerly waiting his date with the Corporate Debt Restructuring cell of lenders in the third week of November.
Indian retailers put cash & carry on backburner
The head of Pantaloon, India 's leading retailer, has warned that high property prices in big Indian cities are threatening the country's burgeoning retail industry and adding to the pressures brought on by soaring construction and labour costs
Jamnalal Bajaj Institute of Management Studies is organising its annual business convention Strategym 2006.
VMIL officials declined to comment on the development. According to sources close to the development, VMIL will sell stake to raise money for expanding Hungama, the content and mobile services arm. The Mumbai-based company has already held two to three rounds of meetings with these private equity investors. The company's valuation has been pegged at Rs 800 crore (Rs 8 billion). The funds raised would be used for Hungama's expansion.
According to sources in the Future Group, it plans to tie up with international retailers in different segments. "We can certainly look at bringing in foreign capital to our subsidiaries now," said a group official, who did not wish to be quoted. Under the new guidelines, downstream investments by an Indian company that has foreign investment but is owned and controlled by Indians will not be considered as FDI.
The JV will be set up in about 8-10 cities, including Hyderabad, Ahmedabad, Kolkata, Bangalore, Indore, Jaipur, Pune, Delhi and Mumbai. The investment is expected to provide significant synergies to the Future Group, which has a large advertisement budget and aligns well with the group's businesses such as Future Media, which has interests in media and advertising.
Future Group Founder & CEO Kishore Biyani wants to take his pet theme of 'collaboration' to the next level for a greater share of the consumer's wallet.
Starbucks Coffee International, the world's biggest coffee chain is finally entering India.
Future Capital Holdings has decided to venture into the hedge fund business in the next three months.
The venture, on the lines of Kishore Biyani's Future Ventures India, will focus its investments in the information technology sector, said a source familiar with the development.
Consumer durables major Videocon and Kishore Biyani's Future group have entered into an agreement to source consumer durables.
'The idea of modern retail is to drive consumption and grow the economy. If international retailers can do that and add new categories, why not?' asks Kishore Bayani of the Future Group.
At the moment Concor, a public sector company controlled by the railways, has a monopoly in running container trains across the country. It offers ferrying rates to carry containers that are one-third of that on roads.
The retail king is back to what he does best: Expand. Future Group chairman Kishore Biyani is planning to add two Big Bazaar stores every month and open 15 hypermarkets over the next six months.
L&T is planning a foray in PE fund in the real estate market with a Rs 4500 crore fund.
The varied roles he has played have included those as a trader, a failed film-maker, a dance festival organiser
Amazon has also signed a term sheet with Kishore Biyani-led Future group to invest $600 million to $700 million for a 12 to 15 per cent stake in the retail giant, it is learnt.
Future Capital Holding disclosed its plans to enter asset management and retail broking. A credit card tie up with ICICI bank is also in the pipeline.
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