Kishore Biyani

Who is Kishore Biyani?

Kishore Biyani, belongs to a trading family from Rajasthan settled in Mumbai for more than 60 years now. He was never interested in studies but did complete his commerce graduation and always had ambition of making it big in business. He didnt join the family trading business but rather than tried out different things on his own, like readymade garments, textile production, creating brands before he ventured in retail business of selling garments.

The initial years were really difficult for him both in establishing his brands and finding sources to fund his bold initiatives. Pantaloon went public in 1992 in order to fund their expansion plans. The IPO size was just Rs2.25 crores (Rs 22.5 Million). This is miniscule compared to present day IPO’s. Kishore was also the first person to introduce the concept of retailing staples through his Big Bazaar and other retail formats. He has a great understanding of Indian consumers and he introduced the concept of selling rice, wheat and other pulses in loose, so that the customers could touch and feel the quality before they decide to buy them.

Kishore went by his instincts and doesnot rely on market research or analysis either for opening new stores or building new businesses. He believed in himself and the India story and he has successfully resisted temptations to export goods or expand geographical spread to other countries. He believes India itself is a huge market for anybody and he doesnot see the need to look at other countries for expansion or growth. He believes Indian consumer is unique and never felt any need to bring in foreign consultants for building in retailing business.

Today, the Pantaloon group has been renamed as Future Group and they have expanded their presence across retailing, financial services, real estate management etc. Another example of his vision is that he has booked the retail space requirements for his Pantaloon stores till 2011 at very cheap rates.