Kishore Biyani Success story, Founder of the Future Group, Pantaloon and Big Bazaar
Have you heard the name of Kishore Biyani? Your answer may be ‘Yes’ or ‘No’ but you must have heard the name of Pantaloon and Big Bazaar.
This is a success story of Kishore Biyani, the chief executive officer (CEO) and founder of the Future Group and the founder of ‘Big Bazaar’, a retail market in India.
Following above you will read a today success story of Kishore Biyani, who created ‘Pantaloon’ brand from Patloon, raised 17000 crore empire from a small shop:
Reading success stories of Indian Entrepreneurs like Kishor Biyani. Sugermint wishes to emulate him on the path of success.
Kishore Biyani is an Indian entrepreneur and businessman. He is the chief executive officer (CEO) and founder of Future Group and also the founder of retail businesses such as Big Bazaar and Pantaloon Retail.
Grocery Tycoon, Kishore Biyani was born on the 9th of August 1961 to middle-class trading family in Nimbi Jodha in Rajasthan. His family has been involved in the business since the time of his grandfather.
His family was middle class. His grandfather had already come to Mumbai from Rajasthan. They used to trade dhoti-sarees here.
Kishore has completed his college and obtained degree of B.com from the city’s prestigious HR College. Biyani was growing up in the Malabar Hill area of Mumbai. Kishore never got involved in studies. He was not good at studies.
Biyani spent the better part of the day wandering around new places, outside college with friends, and interpreting and understanding the real world.
He started working with his father, but he found his way of working very old. Kishore started making trousers at the age of 22. The secret of Kishore’s success is his dedication and hard work.
Biyani was interested in only one subject and that was business. Kishore used to sit among the shopkeepers for hours and observe the customers. Kishore learns something new every day and gradually they begin to understand how a customer’s brain works.
Kishore Biyani began working in his father, brothers and two older cousins business called “Bansi Silk Mills”, which was fabric-trading business but became frustrated.
He was completely against the way the company functioned and that their approach towards the business was wrong.
At that time, Kishore noticed that some of his friends wearing “stonewashed” fabric trousers. His first entrepreneurial success knocked on his door, he found a local fabric manufacturer that made that kind of fabric and sold material to selected garment manufacturers and shops in the city.
He started his own business in 1983 of commissioning the manufacture of fashionable fabric for sale to garment manufacturers.
He got married at the age of 22 to Sangita Rathi. The couple has two children. His daughter Ashni is group’s innovation, Future Ideas, and incubation cell director. Ashni Biyani is a textile design graduate from Parsons, New York.
He manufacturing trousers and progressed to selling his own brand of clothing fabric, which in turn led to the launch of his Menswear garment manufacturing business in 1987.
After this, he started his own company named “Manz wear Private Limited”. He also launched his own brand “WBB – white, brown and blue” a fabric for men’s trousers.
In earlier times, trousers were called “Patloon” in Hindi, which they made their brand name Pantaloon. Later, Kishore gave a new dimension to his “Pantaloon” brand and created the Future Group. He expanded “Pantaloon” brand into retail itself using a franchise model.
After this, the foundation of Big Bazaar was laid in the year 2001. Many brands like Factory, Home Town, Food Bazaar, Central, Ezone, and Fashion at Big Bazaar were added with the name of Future Group.
Kishore floated 60% of his business on the Indian stock market to raise funds for store improvements, expansion, and marketing in 1992. The Pantaloon franchise business was turning over 9 million rupees by 1994.
In August 1997, Biyani opened his first department store in Kolkata, initially renting and converting a 10,000 square feet. This department store was more than twice the size of any other store in Kolkata city and within 22 days, he opened two more.
From 2001, his success continued with the opening of departmental store series under the Big Bazaar brand. By 2009, there were over 100 Big Bazaar stores across the country.
The Big Bazaar stores were designed deliberately to appear somewhat chaotic, like the traditional bazaars with which his customers were familiar.
The Big Bazaar stores serving over two million customers each week, while Pantaloon Retail has more than 30,000 employees and had more than 12,000,000 square feet of retail space across 1100 stores in 75 cities. More than 300 Million, one-fourth of the population visiting or revisiting the Big Bazaar stores every year.
Kishore has taken an interest in business sectors such as media and insurance. He has had stakes agriculture through Future Agrovet, in financial services, such as the Future Capital business, as well as the eZone electronics retailer. The Food Bazaar and Big Bazaar brands, which have been targeted at cost-conscious consumers, were compared to Wal-Mart.
Biyani, who gave a new definition to fashion with the Pantaloon brand, has assets of about 17,000 crores or $ 240 million. Kishore is one of the 100 richest people in India. Kishore Biyani’s success story started from a small sari shop and today he remains a business tycoon.
After the sale of Big Bazaar and Pantaloons, the group has been restructured and resorted into: –
Future Generali Group: a leading Life Insurance Company Limited in India. It is a joint venture between three leading groups: Generali Group- A global insurance group, Future Group – A leading retailer in India, and Industrial Investment Trust Limited (IITL) – A leading investment company.
Future Retail Ltd: Food Bazaar, Big Bazaar, FBB, Foodhall, Home Town, Mega Mart, E Zone, FutureBazaar.com, etc. (initially Pantaloons Retail India Ltd)
Staples Inc – a joint venture between USA based office supply retailer and Future Group. in Staples Inc Future Group has a 60% stake and has a presence in more than fifteen cities in India.
Fashion and Lifestyle: John Millers, Indigo Nation, Lombard, UMM Lee Cooper, Manchester United, Celio, and Tresmode.
Future Lifestyle Fashion Ltd: Planet Sports, Central, and Brand Factory.
Integrated Foods and FMCG: Ektaa, Tasty Treat, Mera Swad, Fresh & Pure, Punya, Premium Harvest, Pratha, and Sach.
Future Consumer Enterprise Limited: Aadhaar, KB’s FairPrice, and Big Apple.
Kishore Biyani has received several awards including:
- 2001 – CEO of the Year
- 2004 – Most Admired Retailer of the Year
- 2005 – Retail Face of the Year
- 2006 – Entrepreneur of the Year
- 2006 – Young Business Leader
- 2007 – International Retailer of the Year
- 2009 – CNBC Awaaz Consumer Awards
The Future Group owner loves entrepreneurs with zeal. He has no belief in ‘pure online’, He does not like eCommerce yet.
Kishore Biyani, Popularly known as KB is one of the very few men who have carved niche in his own way and managed to build an entire empire, all by him, and without any family backing.
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