He wants to transform his retail-led enterprise into a consumer goods giant, and reach Rs 1 lakh crore in turnover by 2021, but is that feasible?
Kishore Biyani met Jeff Bezos, the founder and CEO of Amazon, in Delhi last week and "discussed many things like the macro environment and the prime minister"
Retail chains may be struggling in the face of the economic slowdown, but Kishore Biyani's Future Group seems to be buoyant in the New Year, expecting to do well in the quarter ending March 2009.
Kishore Biyani-promoted Future Group is expanding its private labels in various categories with plans to launch more products in new segments such as toothpaste as part of plans to become a Rs 25,000 crore (Rs 250 billion) conglomerate by 2013-14.
Biyani's comments come on the heels of the Committee of Secretaries' recommendations for opening up the multi-brand retail sector to foreign investment, with a cap of 51 per cent and a minimum investment of $100 million by overseas players.
Future Group aims to increase customer spends - average of Rs 20,000 over 10 visits at its stores in a year
Experts say Biyani will now become a contract manufacturer of fashion and FMCG products, with the Reliance group being one of his customers.
Kishore Biyani-led Pantaloon Retail India (PRIL) will invest close to Rs 250 crore within the next year-and-half for setting up 10 Central malls in the country.
Many private equity funds and retailers, who have long-term vision, will come to India, says Biyani.
The latest trigger has been Future group's buyout talk with the retail unit of Andhra Pradesh Chief Minister Chandrababu Naidu's family-owned Heritage Foods
With inauguration of Tumkur food park, he has ambitious plans in the segment.
Future's home retailing interests, including furniture and furnishings, are housed under Praxis Home Retail, which was created in FY18 when the group demerged the business from Future Retail.
The tables have turned. Organised retail, which used to cite real estate as its first constraint, is being wooed by developers as there is a sudden surplus created by completion of pending projects and new construction. According to an industry analyst, the rental for a retailer used to constitute 4-5 per cent of its total revenue in the years 2001 and 2002, rising to 7-7.5 per cent in the later years. Industry analysts believe a retailer's profit would get eroded
Future, which recently tied up with Amazon in India to sell its fashion and food products exclusively on the American giant's marketplace platform, is looking at a gross merchandise value of about Rs 6,000 crore (Rs 60 billion) in the next three years from the venture.
Reliance Retail Ventures Limited (RRVL) on Thursday said it has entered into a Master Franchise agreement with 7-Eleven to run convenience stores in India. The first 7-Eleven store is set to open on Saturday, in Andheri East, Mumbai, RRVL, the retail arm of Reliance Industries Ltd, said. "RRVL, through its wholly-owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with 7-Eleven, Inc (SEI) for the launch of 7-Eleven convenience stores in India," said a joint statement.
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
The power of the small neighbourhood retailer can barely be ignored as organised players look to leverage their last-mile connectivity and reach, luring them by promising support in technology, inventory and tax management.
Online retail in the country is expected to grow to $200 billion by 2026, up from $15 billion in 2016.
When Biocon chairperson Kiran Majumdar-Shaw - well known for raising issues ranging from lack of civic services in Bengaluru to climate change - decided to take on the Indian stock market regulator, the Securities and Exchange Board of India (Sebi), she forced the Indian corporate world and legal community to take notice. In an interview to Business Standard, Majumdar-Shaw called a Sebi order to impose a fine on insider trading charges against a Biocon employee and an external consultant an "Agatha Christie" fiction, which destroyed the reputation of "innocent people". "The order is pure harassment and has caused huge reputational damage to us and goes against the principles of good governance promised by this government," Mazumdar-Shaw said. "We will certainly appeal this," she added.
The 53-year-old entrepreneur has felt the heat of e-commerce.
E-commerce buyouts: Mahindra, Godrej to leverage on physical stores.
Be it consumer products, lifestyle or entertainment, spiritual gurus are stepping into business and are finding success
Online biggies and global retail giants are working on being omnipresent in both the virtual and the real world to see what helps them get the numbers, says Karan Choudhury.
Malls, retail stores are being hit by online sales and are struggling this festive season.
India Inc was, perhaps, watching out for a repeat of the dot-com bubble burst of the early 2000s.
Patanjali doesn't employ any fancy managers with MBA degrees.
It took Flipkart a little over 24 hours to complete due diligence and come up with a final offer that was $20 million higher than what Snapdeal was ready to forfeit.
12,000: Number of people Flipkart plans to hire in FY15.
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Traders were up in arms, fearing huge job loss if Walmart was to enter.
Of the 300 operational malls in the country, just 5-7 per cent, or about 20 malls, are doing well, suggest analysts reports.
India Inc has few leaders who are likely to grab headlines in 2015.
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