Future Group - Wikipedia, the free encyclopedia

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Future Group
From Wikipedia, the free encyclopedia

Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, operates some of Indias most popular retail formats that include Pantaloons, Big Bazaar, Central, Home Town, Ezone and Food Bazaar. While retail forms the core business activity of Future Group, the group has developed significant presence in consumer finance, capital, insurance, brand development, retail media and logistics. The groups retail formats bring in around 250 million customer footfalls every year and provide a platform for over 30,000 small, medium and large entrepreneurs in India to sell their products and services to these customers. The group has a retail presence in 85 cities and 65 rural destinations and employs over 35,000 people directly.

Future Group

Type Industry Founder(s)

Public (BSE) Conglomerate Mr. Kishore Biyani., (MD & CEO)

Headquarters Mumbai, Maharashtra, India Products Discount Stores Supercenters 35,000 [1] FutureGroup.in (http://www.futuregroup.in)

Employees Website

The groups flagship enterprise, Pantaloon Retail India Limited was founded in 1987 and is listed in the Bombay Stock Exchange and National Stock Exchange since 1991. The company along with its subsidiaries operates around 16,000,000 square feet (1,500,000 m2) of retail space in the country. Other group companies include, Future Capital Holdings, a financial services company, Future Ventures, engaged in operating and investing in allied businesses, Future Supply Chain Limited which operates a nation-wide logistics and warehousing network, Future Brands India Limited, a brand and intellectual property rights development corporation and Future Human Development Limited, an educational and manpower training company with campuses in Ahmedabad, Bangalore and Kolkata that offers degree programs in association with IGNOU. Over the years, the group has also developed successful partnerships with Indian and foreign companies. The group has partnered with Tata Group to operate the brand T24 as a telecom service provider for its customers. It also operates rural retail chain in partnership with Godrej Group. Some of the include joint ventures includes ones with Generali, an Italy-based insurance major which is among the three largest insurers in the Europe, Staples Inc, the largest office stationery retailer in the world and French fashion brand, Celio. The group also has exclusive brand license partnerships with leading global brands like Lee Cooper, Converse, Callaway, Prince, Spalding and Wilson. Future Group believes in developing strong insights on Indian consumers and building businesses based on Indian ideas, as espoused in the groups core value of Indianness. The groups corporate credo is, Rewrite rules, Retain values.

Contents
1 Future Group Timeline 2 Joint Venture Partnerships

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2.1 Generali Group 2.2 Staples Inc 2.3 Celio 2.4 Clark 2.5 Franchisee & Licensee Relationships

3 Articles 4 Books 5 Case Study 6 Awards 6.1 Business Leader 6.2 Corporate Leadership & Governance 6.3 Brands 6.4 Digital 6.5 People Resources

7 References

Future Group Timeline

1987: Company incorporated as Manz Wear Private Limited. Launch of Pantaloons trouser, among Indias first formal trouser brand. 1991: Launch of BARE, the Indian jeans brand. 1994: The Pantaloon Shoppe a franchisee network is set up as an exclusive menswear chain. 1995: John Miller formal shirt brand is launched. 1997: Company enters modern retail with the launch of Pantaloons. 2001: Big Bazaar, Indias first hypermarket chain, launched in Kolkata 2002: Food Bazaar, the supermarket chain is launched. 2004: Central Indias first seamless mall -- is launched in Bangalore. 2005: Group moves beyond retail, acquires stakes in Galaxy Entertainment, Indus League Clothing and Planet Retail. Sets up Indias first real estate investment fund Kshitij to build a chain of shopping malls 2006: Future Capital Holdings, the companys financial is formed to manage over $1.5 billion in real estate, private equity and retail infrastructure funds. Plans forays into retailing of consumer finance products. Home Town, a home building and improvement products retail chain is launched along with consumer durables format, Ezone and furniture chain, Furniture Bazaar. Future Group enters into joint venture agreements to launch insurance products with Italian insurance major, Generali Forms joint venture with US office stationery retailer, Staples

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2007: Future Group crosses $1 billion turnover mark Specialised companies in retail media, logistics, IPR and brand development and retail-led technology services become operational. Pantaloon Retail wins the International Retailer of the Year at US-based National Retail Federation convention in New York and Emerging Retailer of the Year award at the World Retail Congress held in Barcelona. Futurebazaar.com becomes Indias most popular shopping portal. 2008: Future Capital Holdings becomes the second group company to make a successful Initial Public Offering in the Indian capital markets[2] Future Generali launches life and non-life insurance products for the Indian market Big Bazaar crosses the 100-store mark, marking the fastest ever expansion of a hypermarket format anywhere in the world. Total operational retail space crosses 10,000,000 square feet (930,000 m2) mark. Future Group acquires rural retail chain, Aadhar present in 65 rural locations.

Joint Venture Partnerships

Generali Group
The third largest insurance company in Europe, Generali was founded in 1831 and has dominant presence in Europe, South-east Asia and China. The joint venture companies are present in life and general insurance space in India.

Staples Inc
US-based, Staples Inc is the worlds largest office stationery retailer. The joint-venture company currently operates stores in Mumbai, Bangalore, Delhi and other Indian cities.

Celio
French fashion wear maker

Clark
C&J Clark International Ltd. is a UK-based footwear and accessories retailer. The Future Group has entered into a 50:50 joint-venture (JV) to form 'Clarks Future Footwear Ltd.'. The JV launched its first (1,600 sq ft.) stand-alone store in Connaught Place, Delhi on 19 April 2011. The brand seeks to gain a share of the premium segment in this category. [3]

Franchisee & Licensee Relationships

Converse, Speedo, Lee Cooper, Wilson, Prince, Callaway, Spalding, Airwalk

Articles
Wall Street Journal, August 8. 2007: In India, a Retailer Finds Key to Success Is Clutter Wall Street Journal, November 17, 2007: Moving Up in Mumbai

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Knowledge@Wharton, November 1, 2007: Retailer Kishore Biyani: 'We Believe in Destroying What We Have Created' Outlook Business, 4 April 2009, The Atheist Turns to Mythology The Times, London, 14 January 2008, In India, giving the customers what they want means offering the art of chaos The Washington Post, 26 January 2009, Applying Meaning to Management with Ancient Hindu Mythology The National, October 15, 2009: The making of India's retail King The Global Post, 22, January 2009: The Wal-Mart of India The Economic Times, August 16, 2010: How Kishore Biyani hooks India Inc's top talent Forbes, 14 September 2010, Pantaloon's Retail Redo The Economic Times, 19 July, 2010: Modern retailers more responsive in cutting prices than kiranas

Books
India's Store Wars: Retail Revolution And The Battle For The Next 500 Million Shoppers by Geoff Hiscock The Art Of Business Leadership: Indian Experiences by S. Balasubramanian Getting To Plan B: Breaking Through To A Better Business Model by John Mullins, Randy Komisar The India Way: How India's Top Business Leaders Are Revolutionizing Management by Peter Cappelli, Harbir Singh, Jitendra Singh, Michael Useem Added Value: The Life Stories Of Indian Business Leaders by Peter Church It Happened In India by Kishor Biyani, Dipayan Baishya, English, Hindi, Gujarati, Marathi

Case Study
Harvard Business School Press, April 28, 2006, BIG BAZAAR, Ananth Raman[4]

Awards
Business Leader

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Ernst & Young Entrepreneur of the Year Award Ernst & Young Entrepreneur of the Year (Services) Kishore Biyani Considered to be one of the most prestigious business awards in India, a jury comprising leading names in Indian business selected the winners based on courage, creativity, passion, endurance and vision. CNBC Indian Business Leaders Awards 2006 The First Generation Entrepreneur of the Year Kishore Biyani Organized by CNBC-TV18, the twelve awardees in various categories are decided by a high profile jury, along with research partners - The University of Chicago Graduate School of Business, Development Dimensions International (DDI) and AC Neilson ORG MARG. Lakshmipat Singhania IIM Lucknow National Leadership Awards 2006 Young Business Leader Kishore Biyani The award recognizes and honors individuals who have contributed consistently to the betterment of our country through their pursuit of excellence. The awards were presented in New Delhi by the Prime Minister Dr. Manmohan Singh in December, 2006.

Corporate Leadership & Governance

Retail Asia Pacific Top 500 Awards 2006 Asia Pacific Best of the Best Retailers Pantaloon Retail (India) Ltd Best Retailer in India Pantaloon Retail (India) Ltd - The company has since won this award for every year till 2011. The Retail Asia publication in association with EuroMonitor and KPMG honours the best retailers in 14 countries across the Asia Pacific region. The awards were presented in Singapore in October, 2006. Asiamoney Awards 2006 Best Managed Company in India (Mid-cap) Pantaloon retail (India) Ltd. The Asiamoney publication conducts a poll among fund manages and investors and does a quantitative analysis of financial performance to select best managed companies in Asian countries. World Retail Congress Awards Emerging Market Retailer of the Year 2007 Pantaloon Retail (India) Ltd The inaugural World Retail Congress held in Barcelona, Spain in March 2007 attracted over one thousand retail professionals from over sixty countries. The awards were decided by a multinational Grand Jury. Winners in other categories included Inditex, Mall of Emirates, Marks & Spencer and IKEA. National Retail Federation Awards International Retailer for the Year 2007 Pantaloon Retail (India) Ltd The National Retail Federation is the worlds largest retail trade association with over 1.4 million members in the US and across the world. Some of the past winners of the award include Metro AG (Germany), Carrefour (France), Zara (Spain), Boticario (Brazil) and Ito Yokado (Japan). The award was presented at the Retails Big Show held in January 2007 in New York.

Brands
Readers Digest Awards 2006 Platinum Trusted Brand Award - Big Bazaar[5] The Readers Digest awards are based on surveys done among consumers by independent research agency, Nielsen Media Research. CNBC Awaaz Consumer Awards 2006 Most Preferred Large Food & Grocery Supermarket Big Bazaar[6] Conducted in association with AC Nielsen-ORG Marg across 21 major cities, nearly 10,000 consumers were asked to choose their most preferred brands.

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Digital
Best Indian Website In The Shopping Category - Futurebazaar.com[7] PC World, a leading consumer technology magazine selected the best Indian websites in various categories based on use of technology for delivering solutions, information being presented in an intuitive and concise manner and overall experience aided by design.

People Resources
Hewitt Best Employers 2007 Best Employers in India (Rank 14th) Pantaloon Retail (India) Ltd[8] Leading human resources consultancy, Hewitt Associates conducts an annual survey of the best employers in India, as part of its global initiative. It is based on CEO interview, People Practices Inventory and Employee Opinion Surveys. Pantaloon Retail became the only retailer to feature among the twenty-five best employers in India. PC World Indian Website Awards

References
1. ^ http://www.futuregroup.in/about-us/about-group.html 2. ^ NULL. "Pantaloon Retail nod for Future Capital IPO" (http://www.moneycontrol.com/news/ipo-upcoming -issues/pantaloon-retail-nod-for-future-capital-ipo_298925.html) . Moneycontrol.com. http://www.moneycontrol.com/news/ipo-upcoming-issues/pantaloon-retail-nod-for-future-capitalipo_298925.html. Retrieved 2011-06-20. 3. ^ "Print Article" (http://www.livemint.com/Articles/PrintArticle.aspx?eat=tp&artid=E96C9986-6A65-11E0A3E0-000B5DABF613) . livemint. 2011-04-20. http://www.livemint.com/Articles/PrintArticle.aspx? eat=tp&artid=E96C9986-6A65-11E0-A3E0-000B5DABF613. Retrieved 2011-06-20. 4. ^ "BIG BAZAAR - Harvard Business Review" (http://hbr.org/product/big-bazaar/an/606099-PDF-ENG) . Hbr.org. 2006-04-28. http://hbr.org/product/big-bazaar/an/606099-PDF-ENG. Retrieved 2011-06-20. 5. ^ "Readers Digest Awards 2006" (http://www.pantaloonretail.in/awards.asp) . http://www.pantaloonretail.in/awards.asp. 6. ^ "Awaaz Consumer Awards 2006: LG, HLL, SBI, Airtel, Air India among Indias most preferred brands" (http://www.exchange4media.com/e4m/news/fullstory.asp? section_id=1&news_id=21914&tag=16641&pict=) . Exchange4media.com. 2006-07-18. http://www.exchange4media.com/e4m/news/fullstory.asp? section_id=1&news_id=21914&tag=16641&pict=. Retrieved 2011-06-20. 7. ^ "Best Indian Websites by PC World" (http://www.technologytalk.in/2007/05/17/best-indian-websites-bypc-world/) . http://www.technologytalk.in. http://www.technologytalk.in/2007/05/17/best-indian-websites-by -pc-world/. 8. ^ "India's 25 best employers" (http://www.rediff.com/money/2007/apr/17best.htm) . Rediff.com. 2004-1231. http://www.rediff.com/money/2007/apr/17best.htm. Retrieved 2011-06-20.

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