Presentation by Andreas Schleicher Tackling the School Absenteeism Crisis 30 ...
It happened in india
1. b
Book review: It
Happened In
India
By,
Baiju Choudhry
Shrutikala
Mishra
2. KISHORE BIYANI
• Kishore Biyani: New face of Indian retail,
45, is CEO, Future Group, which is designed
to cater to the entire Indian consumption
space.
• After graduating in commerce, Biyani joined
the family textiles business. Five years later
he launched the first branded ready-made
trouser, called Pantaloon, marketed through
The Pantaloon Shoppe.
• Founded in 1987, as a garment
manufacturing company, Pantaloon entered
modern retail in 1997 with the opening of a
chain of department stores, Pantaloons. In
2001, Biyani evolved a pan-Indian, class-
less model — Big Bazaar, a hypermarket
chain.
3. • With Food Bazaar, a supermarket chain, he blended the look, touch and
feel of Indian bazaars with western hygiene .
• 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.
4. DIPAYAN BAISHYA
• Dipayan Baishya is a business writer, and has been associated with The
Economic Times and Business Today.
• His articles have also appeared in Media, a Hong Kong based fortnightly
and Knowledge at Wharton.
• He was awarded the Don Sheehan International Journalist Fellowship by
the Wharton School in 2005. He studied economics at Presidency College,
Kolkata and is based in Mumbai.
5. Chapter-1
Made in India
“Sometimes, we a nation of billion people,
Think like a nation of million people.”
A.P.J Abdul Kalam
6. • In this chapter, we know more about Kishore Biyani and his way of
understanding Indian retail market!
• I also learned more of retailing. Like, there are couple of emotions that
determine shopping behavior which includes greed, altruism, fear and
envy.
• He also discusses about India as consumption-led country. The most
interesting thing about our country is that our growth will be based on ideas
and solutions rather than physical assets.
7. • He strongly believes that in Retail is like
“a strongly youthful, exuberant generation, bred on
success will not only drive productivity but also set a riding a
spiraling effect on consumption and income bicycle up the
generation”.
hill, if you
• In order to achieve any dream, one needs to have stop
willingness to change, confidence and total lack of pedaling, you
inhibitions ! This features youth, the ones who are
going to drive the trends. will slide
down .
• REWRITE RULES, RETAIN VALUES. KB is inspired
by Sam Walton. This rule implies that nowadays
consumer behavior is changing, say as per fashion.
So the rules of the company also should change. KB
strongly believes that consumer is always right!
8. • Kb is role model for young entrepreneurs. He dealt things with simplicity
and also connected and applied routine life with business.
• He used to observe people coming in his stores, to know more about
their demands.
• He maintained the balance between confidence in making choices and
humility in learning.
• Always believed in doing new things, LEARNING, UNLEARNING ,AND
RELEARNING
• If someone asks him about his competitors, he said that with each step
higher, he climbed, he saw a little further and built a little further.
10. • In this chapter, early life of KB is discussed. From very beginning, he was
curious, obsessed with rationality. Different people have mentioned their
experience with KB in school life and college life.
• He had the attitude of challenging and was keen observer from very
beginning. So he had started selling ‘stone wash’ trousers and earned his
first profit.
• He had this attitude of pursuing with his own ideas, and never had
expected any support from the family…..there his entrepreneurial journey
began!
• Here, we know more about the mindset of KB when he quotes “I created
my own ‘mental’ mentors, studied various subjects and eagerly sought
knowledge. I strongly believe that there is a hard and arduous journey that
one has to undertake alone.
11. • He had faced mistakes, learned and moved on. Here we can know about
that entrepreneurship is all about thinking big, believing in your own ability
and going ahead. Its also making decision, leadership.
• Moreover he also discusses about good and bad things of being in family
business, which I felt irrelevant.
13. • In this chapter, we know something more about KB’S struggles and
success story of pantaloons.
• He came up with the brand WBB, went on for advertising worth few lakhs,
and also hired an ad agency, which was new and innovative in that time
and then established the brand.
• One day, inspired from Italian fashion, started selling ready-made trousers.
That was his first retail experience. He had explored into this business of
‘Manz wear’(which came to be known as Pantaloon) and got an insight into
textile industry.
• He emphasized and concentrated more on marketing his products!
14. • He emphasized in the popularity of pantaloons.
• First franchise shop: in Goa called as Pantaloon Shoppe.
• Then onwards he decided to expand Pantaloons nationwide.
• Then he came across the idea of making pantaloons a one-stop destination
for all apparel products for men: shirts, ties, trousers etc.
• Next, he had visualized his business worth 100 crores. The expenditure in
brand building was high and it was time to raise funds from public.
• And this way, he moved ahead with pace.
15. • For him, India was too big an opportunity to be missed out.
• There on, his business principle was “ to provide the ordinary people what
rich could afford” .
• This principle, prevented him not to face any foreign competition.
• When he was surveying about retail market, he’d realized that India has
been savings-led society where women have habit to preserve stuff for long
period of time. This was again a challenge for all retailers how to attract the
customers. KB then had to take up customer initiative at BIG BAZAAR,
WHICH PROVIDED DISCOUNTS, SCHEMES, INNOVATIVE
PROMOTIONS AND EXCHANGE PROGRAMMES.
16. • Kb always updates himself with knowledge of fashion and fabric by visiting
the NIFT.
• He realized the need to scale up all these successful businesses.
• Finally, his business was enjoying the goodwill, even over the Raymond's,
but for that he had to defy many odds. He had to give certain percentage of
daily sales to bank, for security, which was tough, but against that he could
make his dream story possible.
• Its due to his ambition, positive attitude, creativity, and strong determination
he has become SUCCESSFUL.
17. Chapter-4
The New, New Thing
“Despite all the difficulties, all the
frustrations, there is a joy in having done
something as well as you could and better
than others thought you could”
J.R.D. Tata
18. • Kb decided to design Pantaloon Shoppe in the provided
large space in Kolkata and open a mega store. Despite all
the
• The customer response was awesome as they treated them difficulties,
like a family. In this chapter we get an in-depth study of all the
retailing and customer behavior. Some important points frustrations,
about retailing are as follows: there is a
joy in
• Fashion for the matter of retailing, is not selling products, its
having
selling of ideas.
done
• Customers wants to experience everything when they shop something
rather than just wasting money in shopping. as well as
you could
and better
than others
thought you
could.
19. • The crucial aspect in retailing is to make customers relate to every product
that are being sold.
• Store environment also matters.
• Kb had used the concept of visual merchandising which enables a retailer
to talk more to customers
• Category management was another concept based upon on the belief that
a customer walks into a store looking for party shirt or else.
• Fashion retailing includes trend, and understanding its business viability.
• Moreover it requires a deep understanding of local tastes and preferences.
20. • Further important lessons to be learned from KB:
• according to him: CUSTOMER IS THE QUEEN. He was the only
• Customers should be given a comfortable one in the
environment and personal shopping experience industry who
was betting on
• He wasn’t money-minded, achievement was more
important. That is, he did not drive himself by what
the future,
revenues he was going to earn but by what rather than the
percentage of the consumer’s wallet he was going present
to attract!
• He always planned for Long period of term
• For him, Growth is important
• Honesty helped him win the trust of investors.
21. • Talking about big bazaar, then it had earned the admiration of capital
markets, but for KB, most important was to reach out greater no. of
customers than before.
• Once KB stood in the queue outside big bazaar to grab a deal. this shows
how big bazaar had struck chord with its customers. This was the moment
of satisfaction.
• We'll know more about Big Bazaar in the next chapter.
22. Chapter-5
For God, Country And
Big Bazaar
“If at first the idea is not absurd, then
there is no hope for it”
Albert Einstein
23. • In this chapter, few experiences with customers and employees and
customer behavior is discussed. KB’s philosophical thinking makes him
totally a unique personality.
• Indian Customers buy fruits from local market, customers, say in
Philadelphia buy fruits from supermarkets. This had been a challenging
task for retailers, as it would only attract little portion of Indian consumers.
So the ‘bazaar’ big bazaar became significant here. KB follows the Indian
consumer with passion and retail , according to him is about heart.
• Inspired from Saravana stores in Chennai, KB had decided to open up a
hypermarket. Less profit, more turnover.
24. • KB had given full liberty to his employees to take risk and move on with business. For
Rajan Malhotra, head of Big Bazaar, ‘white shirts’ seemed attractive. But soon he
realized that the demand for white shirts were less because , its difficult to maintain.
When he asked KB for his advice, KB just asked to sell the shirts worth Rs.129 @ Rs.
49. shocking? This incident tells us not to fear in making mistake but if you have made
one, get rid of it! Totally true for modern retailing.
• As such the big bazaar retail model was a hit because of Sam Walton’s retail model:
Wal-mart and more inspirational book: made in America
• Another successful model: food bazaar which stroked the chord. It was established on
THE PRINCIPLE OF NOT SLICING THE CURRENT OPPUTUNITY, BUT GROWING
IT FURTHER.
• BIG BAZAAR and FOOD BAZAAR, WERE THE GREATEST PART OF KB’s
SUCCESS, However one question aroused, would kiranas survive with the arrival of
modern retail outlets? KB said that we are the nation of shopkeepers that believe in
prosper of kiranas and co-existence with modern retail.
26. • KB has even shared about his failed businesses. KB explained about how
he tried to enter into movie making in the bollywood but could not produce
a huge success there. In a whole chapter dedicated to his bollywood stint,
he shared his learning from this failed attempt of movie-making.
• Well, what I have learned in this section is ACCEPTING THE MISTAKE,
And not losing hope. KB still wishes to be great filmmaker in the industry.
27. Chapter-7
Business @ The Speed Of
Thought
“And, when you want something, all the universe
conspires in helping you to achieve it”
Paulo Coelho
28. • KB is little hesitant about hiring people. He never expected anything from
those MBA’s. Not everyone can fit into his organization. The ideal people
who form part of his organization are those who are willing to go through
the continuous process of learning, unlearning and relearning.
• He finds the people first, and then the job. He wanted such people because
a stable team ensures speed and continuity of the business.
• Wherever the big bazaar is established, it generates employment 200-300
of people. They are given training under the ‘Gurukul’ program.
29. • Here comes the location, the team used to undertake a survey in the local
markets to know about the product, or in nearby residential places and asked
whether they liked Gaddar or Dil Chahta Hai to know the tastes of consumers.
• Then coming to the prices for land. KB did not bargain, he either said yes or no
and due to this attitude, the dealers used to quote him the correct, reasonable
price.
• Malls are new emerging face of Indian retail. However consumers feel difficult
or inconvenient to visit each stores. So KB thought of establishing a mall
without doors. There the concept of departmental store emerged.
• His business expanded @ a speed of thought. He came up with many such
formats like Destination Mall, Central Mall, Radio Central, Central Outlets, Gold
Bazaar, Home Solutions Retail E-zone, KB’s rural wholesale market for
retailers etc.
• Then they created a group-Future group which is an umbrella entity which
includes every undertakings.
30. Chapter-8
The Pantaloon Way
“Where the mind is without fear and the
head is held high, where knowledge is
free … Into that heaven of freedom,
My Father, let my country awake”
Rabindranath Tagore
31. • In the business the human capital and creative capital is as important as
financial capital. According to KB, and many other companies like GE,
working with trained people is okay, but they can’t help in generating new
ideas. You need to have creativity there.
• Being in fashion business, design is creative activity that connects the dots
initially seemed to be unrelated, connecting the emotions and feelings of
customers.
• KB believes that every big or small idea are given shape by design group.
This team doesn’t appoint market research, instead the team spend time
on streets and observe people. And then they engage in collective idea-
making.
• He believed in twin idea of constant growth and allowing others to grow.
Upon this they came up with PANTALOON GENES.
33. • This chapter mainly talks about his personal as well as SUCCESS IS THE
the business family. SENSIBILITY,
• Family and friends-managing the family is no less FAILURES ARE
important than managing the business.
STEADY STEPS
• In their family there are a certain set of standards which
no one can cross it even him.
TOWARDS
• One of the most necessary step they took was to SUCCESS. ITS
completely separate ownership, governance and AN OPPORTUNITY
execution. TO IMPROVE,
• Within organization their family members mostly LEARN AND MOVE
concentrate on building and nurturing relationships with ON.
business partners and providing an overall guidance to
the business.
• they may have different views, different approaches to
the business but their overall feelings are in the best
interest of the company. They call this Collective
Individualism, multiple belief but a single goal.
34. Chapter-10
Who Says Elephants
Can’t Dance?
“Survival and success depend on
speed and imagination”
N.R. Narayana Murthy
35. • Creator preserver and destroyer-for an organization to grow and
keep pace with the changing reality, it needs these
tensions simultaneously.
• To begin with, every three years they have destroyed their
existing organizational design.
• they started of as a garment manufacturer and launched a few
brands.
• The next step was to establish their own retail chain for their
fashion products and slowly they built multiple retail chain.
• Reaching out direct to the customer required a thorough
understanding of different customer segments.
• For them gathering this knowledge was a prime focus so, they
formed pantaloon knowledge group.
36.
37. • In 2006, they took the next big leap. Future group was the outcome
of new thinking that has come into the organization. The
organization is now based on scenario planning, design thinking,
innovation and ideas of new area
• From this I’ve learned endless no. of things. It has enhanced my
interpersonal as well as commercial skills. The most important
characteristic that I observed in Kishore Biyani is that he grabs each
and every opportunity and applies them @ right time! In addition to
that he doesn't mind following rules or ideas initiated by others, i.e.,
he traps every good or positive things into his pockets( Sam Walton)
38. Vocabulary
• Paranoid
Afraid or suspicious of other people & believing
they are trying harm you.
• Slumber
The time when somebody sleeps
• Trepidation
Great worry
• Recalcitrance
Unwilling to obey
• Consumerism
