Book Review, It happened in India by Kishore Biyani

1. IT HAPPENED IN INDIA
Book Review
By osho Kharbanda

2. Today’s Agenda
Flow of Presentation
Author Intro & Make in India
1
Built from Scratch
2
The new, New thing
3
For god, country & Big Bazaar
4
Business @Speed of thought
5

3. Kishore Biyani
New Face of Indian Retail
Kishore Biyani
CEO, Future Group
Kishore Biyani: 55, 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, leading to the democratisation of
shopping in India.
“ A manager always fears making a mistake and that is where
he differs from an entrepreneur.“

4. • 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.
Future Group
4
“ Indian bazaars with western hygiene“

5. Dipayan Baishya
Dipayan Baishya
Business writer, Head of strategy and group
Communication-CEO, Future Group
Dipayan Baishya is a business writer, Head of
strategy and group Communication-CEO, Future
Group.
He 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.

6. Made In India
Rewrite Rules, Retain Values
What We Are Going to Do
This Chapter is all about Kishore Biyani
way of understanding Indian retail market!
1. There are couple of emotions
that determine shopping behaviour which includes
greed, unselfishness, fear and jealousy.
2. Predicting Indian consumer behaviour
becomes important in retailing.
3. The most interesting thing
about our country is that our growth will be based on
ideas and solutions rather than physical assets.
6

7. Made In India
Rewrite Rules, Retain Values
Kishore Biyani is inspired
by Sam Walton, Founder of
Walmart.
KB strongly believes that
consumer is always right!
7
“ Retail is like riding a bicycle up the hill, if you stop peddling,
you will slide down “

8. Made In India
3 C’s
• Kishore Biyani believes in 3C theory : Confidence and
Changes bringing in an unique era of Consumption.
• 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, process is :
“LEARNING, UNLEARNING ,AND RELEARNING”
8

9. Built from Scratch
• He had the attitude of challenging and
was keen observer from very
beginning.
• He had this attitude of pursuing with
his own ideas, and never had expected
any support from the family..There his
entrepreneurial journey began….!!!
• KB 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.”
9

10. Built from Scratch
• “Entrepreneurship is about thinking big,
believing in your own ability and going
ahead with huge risks even if you are
aware that some of the ventures not be
successful. “
• “It’s also about making decision, leadership,
and about making your colleagues believe
in your DREAM “ 10

11. Defying the Odds
• This chapter is 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 for ready made
garments .He had explored into this business of ‘Manz
wear’(which came to be known as Pantaloon)
• He emphasised in the popularity of pantaloons. 11

12. Defying the Odds
• First franchise shop: in Goa called as Pantaloon
Shoppe.
• In 1992 to raise more fund KB approaches the stock
market and announced IPO and he raise 225 lakh
rupees by diluting his 60 % holding.
• Then he came across the idea of making pantaloons a
one-stop destination for all apparel products for men:
shirts, ties, trousers etc.
• And this way, he moved ahead with pace.
12

13. Defying the Odds
• Kb always updates himself with knowledge of fashion
and fabric by visiting the NIFT.
• He realised 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.
• ITS DUE TO HIS AMBITION, POSITIVE ATTITUDE,
CREATIVITY, and STRONG DETERMINATION he has
become SUCCESSFUL. 13

14. 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 “
• Kb decided to design Pantaloon Shoppe in the
provided large space in Kolkata.
• Some important points about retailing are as follows:
✓Fashion for the matter of retailing, is not selling
products, its selling of ideas.
✓Customers wants to experience everything when
they shop rather than just wasting money in shopping 14

15. The New, New Thing
• 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.
• Moreover it requires a deep understanding of local
tastes and preferences.
15

16. The New, New Thing
• KB believes : CUSTOMER IS THE KING
• Customers should be given a comfortable environment
and personal shopping experience.
• For KB achievement was more important than money.
he drive himself by what percentage of the consumer’s
wallet he was going to attract!
• For him, Growth is important.
• Honesty helped him win the trust of investors.
He was the only one in the industry who was betting
on the future, rather than the present. 16

17. For god, country & Big Bazaar
• KB’s philosophical thinking makes him totally a unique
personality.
• 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.
17

18. For god, country & Big Bazaar
• KB had given full liberty to his employees to take risk and move on
with business. KB explain “ Never fear of mistake ,if you have made
one get out of it fast . “
• Another successful model: food bazaar. It was established on The
principle of not slicing the current opportunity, 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? It is not possible for Hyper mart’s to
serve like ‘Kiranas’.
• As kiranas have personal relation with customer . “they know what
a regular customers wants even before she enters the store “
18

19. Bollywood calling
• KB is always advertisement on big scale. Famous one liner are :
- “Channe ke bhaw me kaaju” ,
- “Is se sasta aur accha kahin nahi”
• KB explained about how he tried to enter into movie making in the
bollywood but could not produce a huge success there. The movie
was “Na Tum Jano Na Hum “
• What makes Film Making is more challenging is that no one get a
chance to correct the mistake.
• 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.
19

20. Business @the speed of Thought
• KB is little uncertain about hiring people. He never expected anything
from those MBA’s. Not everyone can fit into his organisation. He
wants his employees are willing to go through the continuous
process of learning, unlearning and relearning.
"As members of organisational for family, it becomes important
for us to ensure that everyone who joins him, understands the
soul of organization and he would help achieving him his
potential”.
• He finds the people first, and then the job. He wanted such people
because a stable team ensures speed and continuity of the
business. 20

21. Business @the speed of Thought
• For Location , the team used to undertake a survey in the local
markets/residential places to know about the product & taste of
consumers.
• Then 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.
• Then they created a group-Future group which is an umbrella entity
which includes every undertakings.
21

22. The Business of life
“managing the family is no less important than managing the
business.”
• One of the most necessary step they took was to completely
separate ownership, governance and execution.
• Within organisation their family members mostly concentrate on
building and encouragement relationships with business partners
and providing an overall guidance to the business.
“True failure happens only when individuals stop trying to achieve
their personal best “
22

23. Who says elephants can’t dance?
• Every three years they have destroyed their existing organisational
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.
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24. His views on Trust & Relationships is significant.
“If you approach your business with this framework in mind, then
you shall see benefit in all interactions.”
• Most businessmen make the mistake of creating an environment
wherein only then win. They see life only as a competitive arena &
not a co-operative one. Relationships are built on principles, and not
on the basis of power & position.
• However, this is not as easy as it sounds. To get to that level, every
person’s aspirations & dreams have to be understood & more
importantly, addressed appropriately. Therefore, to build great
relationships, sacrifices will have to be made.
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25. Thank You
For your Time