Future Group promoted by Kishore Biyani , which runs India’s largest retail chain in both value and lifestyle formats, on Thursday said it plans to open 25-30 Big Bazaar outlets by June 2012, and will invest Rs 300-crore for the same.

“We are planning to add 25-30 stores on the Big Bazaar front. Our target for this year is 30 stores for Fashion at Big Bazaar and we already have 13 stores, so real estate provided we should be able to achieve our target,” Future Group Future Value Retail Joint CEO (East & South) Sadashiv Nayak told PTI.

The Future group currently owns 152 Big Bazaar stores in the country. “We will be investing Rs 300 crore for Big Bazaar and for the stand-alone (Fashion) it should be another Rs 70-80 crore,” he said on the sidelines of Amar Chitra Katha (ACK Media) scholarship event.

Future Group to increase stake in Amar Chitra Katha (ACK Media)

Meanwhile, Future Group’s Future Ideas Director Ashni Biyani said the group would be increasing its stake in ACK Media but did not specify the stake. “There is already a stake and we will be increasing it. We will be announcing it soon after SEBI formalities are completed,” she said.

Future Group’s Future Ventures has a 13.7 per cent stake in ACK Media and, according to media reports, is planning to increase it to 40 per cent. Biyani further said Future Group’s Big Bazaar would sell two-million copies of Amar Chitra Katha books by December. “We plan to sell two-million books through Big Bazaar outlets. I am sure we will achieve the target by December,” she said.

ACK Media said it will give Amar Chitra Katha Scholarships to children aged between 10-15, and the participation forms would be available at the Big Bazaar stores from July 14-August 7.

“The values that ACK talks about resonates very well with what Future Group’s Big Bazaar as a company, as a format, as a store, believes in. At Big Bazaar and the Future group, we have always looked at how to reach out to children, this is a part of that effort,” Biyani said.

Future Group to dole out scholarships to kids

The national winner will get a scholarship of Rs 11-lakh, 71 city winners would get a scholarship of Rs 25,000 each, 144 children from cities would get Rs 5,000 in cash, seven metro participants would get Rs 50,000-worth scholarship and 10 children participating through the SMS route would get a cash prize of Rs 15,000.

“It would be a stress-free test with multiple choice questions and a short essay question,” ACK Media CEO Samir Patil said, adding that the initiative would get a wider coverage through mobile phones and Future Group’s Big Bazaar than approaching the schools.

Big Bazaar witnesses three-million footfalls each week, Nayak said.

Future Group

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“With this, all format and other brands pertaining to value retail business comprising brands like Big Bazaar and Food Bazaar now vests with FVRL. It completes the realignment process of the retail business of the company (PRIL) between the company (PRIL) and FVRL,” the filing said.

The company’s scrips closed at Rs 271.45 per share, down 0.18 per cent compared to the previous close on the Bombay Stock Exchange.

The company has filed a certified copy of the High Court order with Registrar of Companies in Mumbai on June 4, 2011. PRIL’s committee of directors at a meeting held on December 31, 2009 had approved transfer of its value retail business to its a wholly-owned subsidiary Future Value Retail.

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These stores, six of which have opened in cities like Chennai, Hyderabad and Delhi, are in the pilot stage currently but will eventually become a pan-India model, said an official from the group.

The new model of Big Bazaar stores will have an upgraded sense of space, furniture, fixture along with an increased focus on fresh farm produce, fruits and vegetables, bakery products and live kitchen. These changes are also being made to Food Bazaar, the food retail outlet from the Future Group.

“The Big Bazaar brand is a decade old and in this time our consumers have undergone changes. The next version of the brand is going to cater to the new aspirations of the Indian consumer. We are assessing how far this is going to work with our customer base. We will analyze every catchment area before determining the profile of each of the stores going forward,” said Damodar Mall, president, integrated food strategy, Future Group. This is an attempt to make the brand more inclusive and attract a wider spectrum of customers, Mall added.

“Big Bazaar being the first modern retailer needs to reinvent itself as the newer players like Tata’s Star Bazaar or Aditya Birla’s More have learned from the experiences of the first mover. But the store has a certain positioning which caters to the middle end of the market which will not change as it is the biggest revenue generator for the retailer,” said Arvind Singhal, chairman, Technopak Advisors, a retail consultancy.

Besides having a fuller range in the food category, another big focus area for Big Bazaar will be to expand its line of international brands that it stocks currently in its stores. At present, typically 10-15% of food products are from imported international brands but now the retailer is looking to take it up to as much as 30%.

Mall said the retailer was talking to a number of importers to strengthen its international line of products at Big Bazaar. The Future group recently launched a gourmet food retail concept, Foodhall, to cater to the high-end of the consumer chain. Mall said segmentation is the way ahead for the retailer and Foodhall will target the mature consumer with its mix of products.

Big Bazaar currently has around 150 stores while there are 35 stand alone Food Bazaar stores across the country.

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Sirdeshmukh has altered the way Reliance’s apparel fashion arm functions this year, soon after he started studying Indian anthropometry (physique) and cultural needs of the region. “The Indian customer needs someone who can offer affordable and fashionable clothing,” says Sirdeshmukh .

He is not the only one to realise that. A growing line of value retailers such as Reliance, Future Group’s Fashion@Big Bazaar and Max Retail are selling ready-to-stitch clothes and recruiting tailors to offer the perfect fit and customized style to customers as these marketers try to convert more people to branded clothes across towns, cities and metros.

That’s because Indians still love tailor-made clothes, literally. Tailored clothes account for half the garment market in big cities and 60% of the market in smaller town and cities, say retailers.

Value retailers, who have greatly expanded the branded apparel market in recent years by offering readymade garments at cheaper rates and hold a 30% market share in the $6-7 billion organised apparel retailing, now bet on tailors to speed up growth. It is growing 20% a year.

“Value retailing is looking up, as 50% of Indians in the 15-45 age group prefer branded clothing. The new model entails employing tailors and offering well-fitting garments at lower price,” says Prashant Agarwal, joint MD of Delhi-based Wazir Advisors , a management consulting firm focused on Consumer Products and Services sectors.

Ready-to-stitch garments account for one-fourth of all units Reliance Trends sell.

In cities, apart from women who visit tailors for their Indian wear, men prefer bottoms and suits to be stitched for the perfect fit. In smaller towns, lack of affordability (of fashionable garments) and access to retail outlets confine customers to tailors . Also, affordable ready-to-stitch (RTS) offerings attract several people who never tried readymade garments to these shops, the first step to switching over to readymades.

Stand-alone tailors are feeling the heat. And many are changing with times. Rizwan Shariff, a small-time tailor in Andhra Pradesh’s Chintamani town, moved to Bangaluru two years ago and joined Reliance Trends. “With customers preferring readymade garments and preferring organised retailers over us, I came to Bangaluru,” says Shariff who now heads a team of six tailors at the Richmond Road outlet of the retailer.

Jitendra Chauhan, an Ahmedabad-based tailor-turned promoter of apparel multi-branded outlet Jade Blue, says, “With organised retailing offering similar services at far lesser prices, (standalone) tailors have no chance to survive the onslaught.”

The picture is completely different from five years ago, when branded and readymade garments would stand no competition to the tailor who would stitch a garment for as low as Rs 200. The gap was bridged with the entry of a slew of value retailers such as Koutons , Cotton County, Cantabil, Priknit, Westside , Big Bazaar, and Reliance Trends that started selling branded readymade clothes at low rates.

Today, there are about 5,000 exclusive brand outlets of organized value retailers and the number is expected to touch 7,000 by 2012 as existing players expand and new ones enter, says Wazir’s Agarwal. Amit Kumar, head of Fashion@BigBazaar , the apparel and accessory arm of the country’s largest retailer Future Group, says the company is working towards dispelling the myth that fashion is luxury.

For example, Fashion@BigBazaar retails T-shirts and shirts at Rs.149 and Rs.199, respectively, jeans at Rs.299, salwaar-kameez-dupatta sets for Rs.399 – Rs.429 and ready-to-wear ethnic wear at Rs.329. “We bring tailors to one organised platform, enhance their skills through our retail know-how and encourage their creativity. We even let customers design their own dresses with our in-house tailors,” says Agarwal.

The retailer is keen to take his tally of Big Bazaars, which house Fashion@BigBazaar, from the current 137 to near 200 over 12-16 months. In addition, there are six standalone Fashion@Big Bazaar outlets across five cities. Value retailers are also expanding their product portfolio with popular local outfits to reach out to more people.

“While we have been retailing everything from fabric, ready-tostitch, infant wear, children’s, teenager’s, women’s and men’s garments, Indian wear, corporate wear, speciality clothing including active sportswear and yogawear, we have also been catering to local populace by offering bandhni sarees (in Gujarat ), mundu (in Kerala) and burqa (in Hyderabad),” says Reliance Trends’ Sirdeshmukh.

Interestingly, the tailor-retailer axis is not limited to value players though. “Even premium men’s wear brands like Raymond , Reid and Taylor and Vimal have brought in tailors to customise garments for their customers,” says Jade Blue’s Chauhan. “At my stores, the category is growing at 30% year-on-year ,” he says.

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“There are usually great bargains for branded products in new retail formats. However, for the day-to-day grocery items such as bread, biscuits, sugar or pulses, we depend on neighborhood stores, where they understand specifications of our kind of rice and pulses. Such stuff is not available in modern retail chains,” says the mother of two children.

Most urban consumers in the country, like Priyanka, are crossover shoppers, frequenting both modern retail and neighbourhood groceries for different needs, says a new study by The Nielsen Company that strengthens the case for allowing multinationals such as Wal-Mart and Carrefour enter the $410-billion retail market in India .

Coming in at a time when the government has revived the debate over allowing foreign direct investment in multi-brand retail by seeking feedback from various stakeholders that has ministries, opinion leaders and small and big businessmen lining up on either side, the one-year-long study clearly suggests that modern retail and pop-and-mom shops can coexist.

“With the shopper moving fluidly between modern and traditional trade, both sides of the retail universe are well positioned to cultivate shopper loyalty and marketers have multiple points of sale to influence the same shopper,” says Roosevelt D’Souza , executive director at The Nielsen Company.

The study, conducted among 3,000 plus shoppers across 11 cities and Nielsen’s national panel of retailers during the 12 months ended September last, suggests that the valuehunting Indian consumer visits modern trade formats such as Hypercity, Big Bazaar, Spencer’s , D’Mart , More and Reliance Fresh for her monthly purchases, while frequenting traditional groceries for her daily purchases.

“I avoid going to the large formats to pick up a few daily essentials. I hate waiting in long queues and getting bar codes checked,” says Sarita Joshi, a homemaker living in Nerul, an eastern suburb of Mumbai. “It is equally tough returning products to big retailers or getting the money back which my neighbourhood kirana takes care of with just a phone call,” she adds.

Grocers are betting on their unique strengths such as customer relationships, home delivery and credit facilities, besides expanding product portfolio, to hold their ground against increasing competition from big retailers, which account for only 5% of the total retail market but are growing 30% a year.

“Our services such as buying back sold goods, home delivery, monthly credit and customised groceries are very difficult for modern trade to replicate,” says Ramniklal Jadavji Cheda, president of Retail Grain Dealers Cooperative Society, the biggest mom-and-pop association in Mumbai with around 9,200 members.

Also, many grocers now place purchasing orders jointly to bargain better with suppliers and sell products at competitive rates.

A Fair World

Allowing foreign direct investment in multi-brand retail has been a vexed issue for many years now. It returned to the public domain when the commerce ministry came up with a discussion paper in July, inviting views from all stakeholders.

Last month, world’s largest retailer Wal-Mart’s CEO Mike Duke flew down to the country, days before US President Barack Obama’s visit , to hard sell the benefits of international competition in multi-brand retailing to Indian consumers as well as small grocers.

While commerce and industry minister Anand Sharma and the Planning Commission have supported FDI in retail, those opposing the idea include micro, small and medium enterprises (MSME) ministry and communications & IT ministry, besides different associations of small retailers.

The biggest fear is that the arrival of the likes of Wal-Mart , Carrefour and Tesco will lead to a huge loss of jobs in traditional retail sector, which is considered the second-largest employer in the country after agriculture with more than 20 million people across some 12 million shops and accounting for more than 95% of total sales.

The latest Nielsen study allays that fear

The Indian shopper, it says, flits across formats to buy different items from each store type. For instance, they visit neighbourhood paan shops for salty snacks and chocolates, chemists for deodorants and milk beverages, and modern trade outlets for branded grocery and liquid toilet soap.

While modern trade is driving sales of premium household and food categories, traditional trade has begun selling more personal grooming products such as hair conditioners, fragrances, deodorants and hair dyes than ever before. Diapers, liquid soap, washing products and squashes are selling equally big from both the channels.

Grocers Grow Smarter

Price is a big factor though. Of all the shoppers who participated in the Nielsen study, nearly 40% said they know the prices of most items in both modern and traditional trade formats, while 45% said they notice a difference in prices between the two formats.

Big retailers have an edge here, thanks to their ability to check operational costs, bargain hard with suppliers and launch private labels.

According to another Nielsen study, modern retail dropped prices by more, or increased them by less, for more product categories than traditional retailers, or kiranas, between the October-December 2009 quarter and the January-March 2010 quarter.

Small grocers too now offer decent discounts to consumers, thanks to joint purchases and tieups with top consumer product companies such as Hindustan Unilever , Procter &Gamble , Godrej Consumer Products, Dabur and Marico .

Bharatiya Udyog Vyapar Mandal, the biggest association of mom-and-pop stores in the country with more than 5 million members, has formed city-centric associations to negotiate directly with manufacturers and do away with any middlemen. This has helped kiranas offer 5-20 % discounts on MRP of branded products like detergents, shampoos, soaps, oil and atta.

They are helped by FMCG players, which are facing increased competition from private labels, or own-brands , of big retailers and are under constant pressure to increase retailers’ margins. Programmes such as Hindustan Unilever’s ‘Perfect Store’ and Dabur’s ‘Parivar’ adopt kiranas and teach them category management and effective merchandising to make them more engaging and presentable.

“Stores are a reflection of the aspirations of any society,” says Godrej Consumer Products executive vice-president , marketing, Tarun Arora. “Although modern trade is roughly around 6% of total retail, traditional stores have learnt a lot from it and consumer companies like us have become catalyst in the process , resulting in the emergence of crossover shoppers,” he adds.

All this has left consumer the winner. She gets never-before bargains from modern retail and never-before service from small grocers . “Attitude of kirana owners has changed a lot, especially in areas where catchments of modern retailers and mom & pop stores are the same,” says Ashwin Merchant, a Mumbai-based independent marketing advisor.

The country’s largest retailer Future Group’s director, food strategy, Damodar Mall says that any format, whether traditional or modern, that meets consumer needs effectively will do well. “Modernisation of all trade is in favour of the consumer,” he adds.

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Mr Biyani, whom many regard as the pioneer of modern retail in India , told family members and others at a recent meeting that they would have to get used to a different way of working in which executives would largely call the shots, according to people present at the meeting.

Mr Biyani confirmed this account, though he made it clear that greater autonomy for professionals would be matched with more accountability for the bottom line.

“I have discussed these plans in an open forum and have empowered our top professionals to take independent business decisions in each of their verticals. I do not think family members have to be involved in day-to-day operations of our business or be accountable for profit and loss. Instead, family members will play the role of mentors in the business.”

Rakesh Biyani, a cousin of Kishore, was initially said to have been less than enthusiastic about giving up the stewardship of Future Value Retail—comprising 290 Big Bazaar and Food Bazaar stores that account for 60% of the turnover of Pantaloon Retail.

But Rakesh Biyani subsequently agreed to move to a newly-created entity called the Family Business Board, leaving the coast clear for retail industry veteran Raghu Pillai, who recently quit Reliance Retail to join the Biyanis.

A number of company officials, all of whom spoke on condition of anonymity because of the sensitivity of the matter, said Rakesh Biyani, the CEO of Future Value Retail, had found it hard to come to terms with his new role.

“He knows the margins on each and every product. He is fully involved. Obviously, it will be difficult for him to leave everything,” said an insider who works closely with him.

Rakesh Biyani denied any friction. “We are at a stage where family members will play a larger role in creating synergies with Future Group and mentoring the professionals in the business.”

A top official in the group familiar with Rakesh Biyani’s thinking said he had no doubt about the desirability of a greater role for professionals, but had expressed concern on whether the group was mature enough for such a drastic regime change, where executives completely ran the show leaving only strategic decisions to the group’s founding family.

Mr Pillai, the executive on the ascendant, did not respond to questions on the timeline for him to assume the role of CEO of Future Value Retail or whether Rakesh Biyani was delaying surrendering day-to-day operations to him. “I joined the retail group on November 4 and have taken over many executive responsibilities since then and continue to do so. I report to the group CEO Kishore Biyani,” he said.

The Biyani family will, from now on, interact with the professional business heads through a new entity called the Family Business Board, or FBB, which will deal with issues such as succession planning, business strategy and relationships with vendors.

Another panel, the Group Executive Board (GEB), has been created below the FBB representing all the important functions and businesses. Kishore Biyani — whose role as the retail group’s supreme leader will not be affected — will be the only family representative on the GEB which will comprise all the professionals in the business.

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The company, that runs a chain of outlets such as Pantaloons, Big Bazaar, Food Bazaar, KB’s Fair Price and rural model Adhaar, will invest around Rs 600-700-crore every year for the next 3-years, its CEO, Kishore Biyani , told shareholders at its Annual General Meeting (AGM), here.

Pantaloon, a part of the Future Group, would be using the funds to add 15-million square feet retail space into its portfolio by 2014, Biyani said. “The funds will be used to add 3-million sq ft of retail space every year for the next three-years. This will be done across formats in both the value and lifestyle segment,” Biyani said.

Currently, it runs its outlets in 80 cities and plans to add another 30 cities in three years. However, about 60 per cent of the expansion would be carried out in the top eight metros, he said. Pantaloon presently has a presence across 80 cities in the country and plans to expand operations to 110 cities going ahead.

It also runs some regional brands such as Depot (book store), Shoe Factory, Brand Factory, Blue Sky, all, Top 10 and Star and Sitara. Besides, its subsidiary, Home Solutions Retail (India) Limited operates Home Town, a large-format home solutions store, Collection i, selling home furniture products and E-Zone, focused on catering to the consumer electronics segment.

Pantaloon Retail is currently going through a major restructuring exercise and would be a pure retail company in the next two-years. The company will complete 25-years in 2012. “In the next 2-years, we are going to see a pure retail balance-sheet through value unlocking. We want to bring all the retail formats under one umbrella,” Biyani added.

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“Since March this year, multinationals including Hindustan Unilever, Procter & Gamble, Reckitt Benckiser and Kellogg’s have been increasing margins by 10-25% in leading supermarkets like Big Bazaar and Reliance Retail to match up with low priced private brands offered by retailers,” a top industry official said on condition of anonymity.

These multinationals have, however, increased margins only in categories such as diapers, ketchups, floor cleaners, soups, breakfast cereals and toothbrush, where retailers private labels have been most active in new launches and gaining market share.

The friction between retailers and fast-moving consumer goods players over higher margins and better shelf space has been there for some time now and hit the headlines when Future Group , the country’s largest retailer, pulled Kellogg’s breakfast cereals off the shelves of around 150 Big Bazaars.

While marketers refused to increase margins on popular brands, retailers retaliated by launching a series of products under their own brands and giving them more shelf space and pricing them lower than established competition. When approached for this story, most retailers and FMCG companies refused to talk about margin negotiations and their standoffs.

“In certain product categories which are sold almost exclusively through modern retail, we do see consumer product companies willing to extend higher margins,” says Bijou Kurien, president and chief executive, Reliance Retail – Lifestyle.

“Globally too, the practice of consumer product companies assisting modern retailers to support the sales of niche brands and products is quite common,” he added. Globally, again, many private brands of retailers are doing well in the market.

And now this global trend seems to be gradually trickling down to India as well, especially due to slowdown where a section of consumers shifted loyalties from branded products to low priced private labels. This has resulted in few retailers like Big Bazaar even setting up a dedicated private brand team that operates just like an FMCG company.

A recent Morgan Stanley report revealed that key private brands from Food Bazaar have gone several notches higher in terms of overall sales ranking since the time they have been launched. For instance, Future Group’s snack brand Tasty Treat now ranks seventh among all stock keeping units (SKU) across categories, making it the highest selling snack brand ahead of Lays and Haldiram. Similarly, its home care brands Care Mate and Clean Mate now rank 19th and 14th, respectively.

“Private Brands, apart from allowing retailers to differentiate their merchandise which over a period of time creates consumer loyalty to the store, make more margins than national brands,” said Devendra Chawla, business head, private brand, at Future Group. “It also helps in growing consumption and expanding category size as India is under-branded and under-penetrated in many categories.”

Future Group, in the last one year has launched three new brands across a dozen categories. With modern retailers contributing just 6-7% to the total sales of consumer goods companies, their overall margins aren’t getting impacted drastically.

But in the last few years, consumer goods companies have been aggressively trying to channel most of their resources into nascent segments like deodorants, diapers and ready-to-eat products that they feel have huge potential.

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The firm, which currently owns 21 private brands such as John Miller, Care Mate, Mohena, Koryo, was set up by the promoters of retail chains Big Bazaar and Pantaloon to recreate its private labels as conventional brands, besides providing brand consultancy services.

“We are looking at launching 4-5 brands over the next six-months. These will be across 7-8 categories. Some will be in the FMCG space and some in consumer durables. We will be entering into new categories with Koryo, our consumer durable brand,” Future Brands’ CEO and Managing Director, Santosh Desai, told reporters on the sidelines of AIMA event here today.

Koryo already has its presence in categories such as microwave ovens, TVs and other small appliances. The consumer durables category is growing at 40 per cent YoY, Desai said.The new categories and products will be available in the market in the next six-months, he said.

“We see a growth of about 50 per cent in our private brands and expect the private brands to keep growing at the same rate over the next few years,” Desai said, adding that Future Brands contributes around Rs 1,600-crore to the topline of the group.

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Micro Star International (MSI) announced that it is in the process of enhancing its retail presence as it has tied up with Staples, the world’s largest office products company, for its newly launched F series of notebooks. From the end of September, the premier F Series range of MSI lap-tops will be retailed by Staples’ retail stores in four Indian cities, which are Bangalore, Mumbai, Pune & Noida.

Staples has been a pioneer in making it convenient for their customers to buy a wide range of products in technology, office supplies, tech & print services. This year MSI has been focusing on increased customer contact as it has already announced about its tie-up deal with Croma, Reliance Digital and Big Bazaar earlier this year.

It also undertook 6 cities MSI Yatra, a consumer education programme which has been aimed at giving potential customers a hands-on experience of its wide range of lap-tops and Netbooks. With tie-ups with Staples to market its latest laptop series, MSI hopes to reach out to the high-profile customer base of Staples with its stylish and power-packed F-Series notebooks.

The Staples stores will have the MSI notebooks on display and the customers will be allowed to browse and access detailed product literature, while trained personnel will on hand to explain product features and help customers derive an “MSI experience” before making their purchase decision.Tony Yang, MD of MSI India says, “Staples stores are also frequented by high-income customers who are used to dealing with the best. It is an ideal outlet for the F-Series, which has been specially designed keeping in mind the high-style and features demand of this segment.”

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