Pillai had over 20 years' experience in the consumer goods and retail sector, the last 15 with RPG Retail, the Future Group and Reliance Retail, where he was board member and chief executive.
Raghu Pillai, former director and CEO (operations, strategy and business development) of Reliance Retail, today took over as the chief executive of Kishore Biyani's Future Value Retail. An industry veteran, Pillai talks about his new role with Business Standard.
Pantaloon Retail is eyeing the Rs 30,000 crore (Rs 300 billion) consumer durables retail market, excluding mobile phones and IT products.
The company sacked nearly 900 employees and shelved its investment plans in the state, which included nearly 200 Reliance Fresh stores over three years and a back-end logistics chain.
Kicking off its Rs 25,000 crore (Rs 250 billion) mega retail plans, Reliance Industries announced on Friday that its first store will come up in Hyderabad in September, which will be a vegetable and food store.
'Even if organised retail takes 10 percent of the market, it is around Rs 50,000 crores!' says RPG Retail CEO Raghu Pillai.