Book review It Happened in India KISHORE BIYANI Future Retail , Future Capital, Future Brands, Future Logistics, Future Media. Made in India *REWRITE RULES, RETAIN VALUES* Built from scratch

1. Book Review
IT HAPPENED IN INDIA
Prepared By
Mr. Nishant Agrawal

2. KISHORE BIYANI
•Kishore Biyani: New face of Indian retail, 52, 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.
•He launched the first branded ready-made
trouser, called Pantaloon, marketed through The
Pantaloon Shoppe.

3. • Food Bazaar, a supermarket chain,
“Indian bazaar with western
hygiene”
•The Future Group operates through six
verticals:-
 Future Retail ,
 Future Capital,
 Future Brands,
Future Logistics,
Future Media.

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.

5. Made in India
• This Chapter is all about KB way of understanding Indian retail
market!
• There are couple of emotions that determine shopping
behavior which includes greed, unselfishness, fear and jealousy.
•Predicting Indian consumer behavior becomes important in
retailing
•The most interesting thing about our country is that our growth will
be based on ideas and solutions rather than physical assets.

6. *REWRITE RULES, RETAIN VALUES*
KB is inspired by Sam Walton. KB strongly believes
that consumer is always right!
Retail is like riding a bicycle up the hill,
if you stop pedaling, you will slide down .
Made in India

7. •KB 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”
Made in India

8. 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. 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. 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 emphasized in the popularity of pantaloons.

11. •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.
Continue….

12. •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.
•ITS DUE TO HIS AMBITION, POSITIVE ATTITUDE, CREATIVITY, and STRONG
DETERMINATION he has become SUCCESSFUL.
Continue….

13. 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. • 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.
The new, new thing

15. •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
The new, new thing

16. 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. •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 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? 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 “
For god, country & Big Bazaar

18. 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. 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 organization. He wants his employees are willing
to go through the continuous process of learning, unlearning and relearning.
"As members of organizational 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. •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.
Business @ the speed of Thought

21. 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 organization 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. Who says elephants can’t dance?
•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.

23. •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.

24. Thanks