INTRODUCTION:

Kishore Biyani (Rajasthani; born 9 August 1961) is an entrepreneur who has been credited with
changing the face of modern retailing in India, with the introduction of innovation designed
discount hyper markets and forming the concept of destination malls.

His company, Future Group operates 3 million square feet of retail space spread across 25 cities
in India. The most notable formats being Big Bazaar, Home Town, Pantaloons and Central chain
of shops. He has been called India's own Sam Walton.

Mr. Kishore Biyani is the Chief Executive Officer at Future Group. He is also the Chairman and
Managing Director at Pantaloon Retail (India) Limited. Mr. Biyani is a Managing Partner and
Chairman at Indivision Capital Fund. He is the Chairman of Future Capital Holdings.

Biography for Kishore Biyani

Name: Kishore Biyani
Company: Future Group
Nationality: India

• Kishore Biyani is the Managing Director of Pantaloon Retail (India) Limited and the
Group Chief Executive Officer of Future Group. He has led Pantaloon Retail’s
emergence as the India’s leading retailer operating multiple retail formats that now cater
to almost the consumption basket of a large section of Indian consumers.
• Kishore Biyani led the company’s foray into organised retail with the opening up of the
Pantaloons family store in 1997. This was followed in 2001 with the launch of Big
Bazaar, a uniquely Indian hypermarket format that democratized shopping in India. It
blends the look, touch and feel of Indian bazaars with aspects of modern retail like
choice, convenience and quality. This was followed by a number of other formats
including Food Bazaar, Central and Home Town.
• The year, 2006 marked the evolution of Future Group, that brought together the multiple
initiatives taken by group companies in the areas of Retail, Brands, Space, Capital,
Logistics and Media.
• Kishore Biyani advocates ‘Indianness’ as the core value driving the group. The group’s
corporate credo is ‘Rewrite Rules, Retain Values.’
• Kishore Biyani was awarded the Ernst & Young Entrepreneur of the Year 2006 in the
Services Sector and the Lakshmipat Singhania - IIM Lucknow Young Business
Leader Award by Prime Minister, Dr. Manmohan Singh in 2006. He was also awarded
the CNBC First Generation Entrepreneur of the Year 2006.
Kishore Biyani was born in August, 1961 and is married to Sangita and they have two daughters.
He recently authored a book, ‘It Happened In India’ that captures his entrepreneurial journey and
the growth of modern retailing in India.

It Happened in India - The Story of Pantaloons, Big Bazaar, Central, and

the great Indian consumer

It Happened in India - Kishore Biyani with Dipayan Baishya

Finally a business book from India! And no, it did not come from the Tata’s
or Birla’s or Ambani’s. It has come from the reasonably unlikely quarters of Biyanis. Actually it
is just one Biyani that is famous yet: Kishore Biyani, the first generation business man who has
given retail in India the shape it is in. Sure we don’t know how are Pantaloons and Big Bazars
and other ventures of Kishore Biyani going to shape up in the wake of Reliance Retail and
foreign players. And neither did Kishore Biyani set up the first mall in the country. But he could
still be heralded as the Father of Indian Retail simply because he has, as Malcolm Gladwell
would say, “Tipped” the retail industry in India. He has taken malls from the domain of the elitist
to the masses. And even though the business of Kishore Biyani is minuscule compared to
Walmart or Tatas, he has achieved a tremendous amount, enough to warrant an autobiography of
hisbusinesslife.

And true to his style, this book by Kishore Biyani was meant for the masses. It was released in
paperback, and priced at Rs. 99. Which is the least I have paid for a business book ever!

However, a good business man, and a thriving business operation, does not necessarily a good
business book make! That is exactly what has happened here. The book oversimplifies the whole
business a bit too much for the reader to grasp the complexities of the business environment, that
too, in a sector which is otherwise dominated by the unorganized players. The best business
books tend to chart the journey of everyone involved, capturing sufficient detail to convey the
challenges of the business without over doing it which would bore the reader. It’s a fine line to
tread. And this book is on the simpler side of the line. It misses that investigative journalistic
touch and the business details. Perhaps if an independent author had written a book instead of
Kishore Biyani himself, assisted by a writer, he might have done a better job.

Having said that, the book does give glimpses of the Indian Retail scenario. And even the brief
insights are quite a delight to read. The growth of the business itself, and the thoughts of Kishore
Biyani at every juncture and inflection point for his company are quite well narrated. The
anecdotes and comments by people who have worked with Kishore Biyani… umm… well there
are too many of them and most are generic praises that anyone could shower on anyone. But
then, some of them highlight specific facets of Kishore Biyani’s business style and acumen, and
they cover up for all the other write-ups which are plain flattery.

The book is not really written for the B-school audiences. It is meant to fire up that
entrepreneurial spark in the people who are looking for a hero to emulate. And yes, Kishore
Biyani is a source of bucketfuls of inspiration for such young guns. This book will be more than
vindicated if it manages to produce even a single Kishore Biyani in this country of over 1 billion
people.

Biyani’s Kingdom

 Pantaloons

 Big Bazaar

 Food Bazaar

 Future Bazaar

 Brand Factory

 Central

 Planet Sport

 Lee Cooper

 Home Town

 E zone

 Furniture Bazaar

 Shoe Factory

 Depot
Pantaloon Retail (India) Limited
Pantaloon Retail (India) Limited, is India’s leading retailer that operates multiple retail formats
in both the value and lifestyle segment of the Indian consumer market. Headquartered in
Mumbai (Bombay), the company operates over 16 million square feet of retail space, has over
1000 stores across 73 cities in India and employs over 30,000 people.

The company’s leading formats include Pantaloons, a chain of fashion outlets, Big Bazaar, a
uniquely Indian hypermarket chain, Food Bazaar, a supermarket chain, blends the look, touch
and feel of Indian bazaars with aspects of modern retail like choice, convenience and quality and
Central, a chain of seamless destination malls. Some of its other formats include Brand Factory,
Blue Sky, aLL, Top 10 and Star and Sitara. The company also operates an online portal,
futurebazaar.com.

Future Value Retail Limited is a wholly owned subsidiary of Pantaloon Retail (India)
Limited. This entity has been created keeping in mind the growth and the current size of the
company’s value retail business, led by its format divisions, Big Bazaar and Food Bazaar.

The company operates 120 Big Bazaar stores, 170 Food Bazaar stores, among other formats, in
over 70 cities across the country, covering an operational retail space of over 6 million square
feet. As a focussed entity driving the growth of the group's value retail business, Future Value
Retail Limited will continue to deliver more value to its customers, supply partners, stakeholders
and communities across the country and shape the growth of modern retail in India.

A subsidiary company, Home Solutions Retail (India) Limited, operates Home Town, a large-
format home solutions store, Collection i, selling home furniture products and eZone focussed on
catering to the consumer electronics segment.

Pantaloon Retail is the flagship company of Future Group, a business group catering to the entire
Indian consumption space.
Big Bazaar
Big Bazaar, ‘Is se sasta aur accha kahi nahin’ - India’s first hypermarket chain launched.

Big Bazaar is the chain of retail stores of the big banner Pantaloon Retail (India) Ltd. , which in
turn is a segment of the Kishore Biyani , regulated Future Group of Companies. Moreover the
customer friendly ambiance and the organized retailing of products also makes Big Bazaar one
of the successful retail companies in India.

There are 89 Big Bazaars in India and the format is the highest revenue and profit generating unit
for the Future Group that Biyani founded. Biyani has plans to hive off Big Bazaar and may
eventually take it public after doubling the number of stores by March 2009 .

It cannot be a zero-sum game anymore. We need to create win-win-win scenarios - where we can
win, our business partners can win and the customer can win.

where he describes himself as the creator and destroyer (and re-creator) of all that he builds - he
doesn’t believe in preserving because that’s when the company starts stagnating. So, every few
years, KB changes their entire organization structure to adapt to the current and future
environments, and that’s why they now have a new name “Future Group” :

ACE future the word which signifies optimism, growth, achievement, strength, beauty, rewards
and perfection. Future encourages us to explore areas yet unexplored, write rules yet unwritten;
create new opportunities and new successes. To strive for a glorious future brings to us our
strength, our ability to learn, unlearn and re-learn, our ability to evolve.

We, in Future Group, will not wait for the Future to unfold itself but create future scenarios in
the consumer space and facilitate consumption because consumption is development. Thereby,
we will effect socio-economic development for our customers, employees, shareholders,
associates and partners.

Big Bazaar is not just another hypermarket (a bit like a discount store). It caters to every need of
your family. Where Big Bazaar scores over other stores is its value for money proposition for the
Indian customers. It provides discounts ranging from 8-6 percent to the market.
Promising that nobody sells cheaper and better, the Big Bazaar store, and offers special discounts
and offers of up to 60 per cent on more than 1,60,000 products 365 days a year.

Food Bazaar
Ab Ghar Chalaana Kitna Aasaan

Food Bazaar invites you for a shopping experience, unique by its ambience. At Food Bazaar you
will find a hitherto unseen blend of a typical Indian Bazaar and International supermarket
atmosphere.

Flagged off in April’02, Food Bazaar is a chain of large supermarkets with a difference, where
the best of Western and Indian values have been put together to ensure your satisfaction and
comfort while shopping.

The western values of convenience, cleanliness and hygiene are offered through pre packed
commodities and the Indian values of "See-Touch-Feel" are offered through the “bazaar-like”
atmosphere created by displaying staples out in the open, all at very economical and affordable
prices without any compromise on quality.

The best of everything offered with a seal of freshness and purity will definitely make your final
buying decision a lot easier.

Futurebazaar.com

Futurebazaar.com offers the widest range of products at ‘lowest prices – everyday!’

Having pioneered the retailing business in India, PRIL has now decided to revolutionize the
consumer e-commerce business in India. It intends to provide customers with a streamlined,
efficient and world class personalized shopping experience, which will be supported with the
best technology platform.

Buying products is a 3 step simple process. All one has to do is Search, Register and Buy. Here
you can expect a shopping experience akin to shopping at an actual bazaar but with added
simplicity & everyday low prices and an assurance of 'your product' will be delivered within 7
days of purchase.
We are proud to inform you that Future Bazaar has been named as the Best Indian Website
2007 in the Shopping category by PC World.

Future Bazaar won the top spot after beating other established players like Rediff, Indiatimes,
Sify, ebay, Indiaplaza, Chennai Bazaar and India Mall. The award was presented to Future
Bazaar for its "decent, no-nonsense approach, while providing a good shopping experience".

Brand Factory

Brand Factory brings to the Indian consumers the promise of revolutionizing value shopping by
offering the best Indian and International brands at Smart Prices

Brand Factory promises its customers that value shopping is not about seconds’ experience, it’s
not about a garage sale environment and it’s not about buying cheap. Instead, it’s all about an
amazing experience of ‘Buying Smart’.

The thought behind Brand Factory is to raise the bar of expectation and experience when it
comes to ‘Brand + Bargain Shopping’. Over the years Factory Outlets have become distinct
shopping destinations with distinct audiences. With fashion cycles reducing, larger quantities of
stocks are reaching factory outlets. But then what gets compromised in the process is the brand
and its image.

The emphasis at Brand Factory is to offer the customer the widest range of brands and categories
possible at absolutely great prices, in an ambience that befits the brand. Brand Factory presents
the brands in a fully air-conditioned, slick environment varying between 70,000 to 1,50,000
square feet.

The stores offers a wide range of products including apparels for men and women; infant wear;
accessories; cosmetics; footwear; sportswear, luggage; home linen and much more.

Brand Factory hosts several Indian and International fashion brands including Levis, Pepe Jeans,
Dockers, Wrangler, ProVogue, Arrow, Nike, Adidas, Reebok, Louis Phillip, Allen Solly, Reid
and Taylor, Gini and Jony amongst others.

Central
Shop, Eat and Celebrate

Launched in May'04 at Bangalore, Central is a showcase, seamless mall and the first of its kind
in India. The thought behind this pioneering concept was to give customers an unobstructed and
a pure shopping experience and to ensure the best brands in the Indian market are made available
to the discerning Indian customer.

Central offers everything for the urban aspirational shopper to shop, eat and celebrate. Located in
the heart of the city, Central believes its customers should not have to travel long distances to
reach us; instead we must be present where customers frequently visit.

Central houses over 300 brands across categories, such as apparel, footwear and accessories for
women, men, children and infants, apart from a whole range of Music, Books, Coffee Shops,
Food Courts, Super Markets (Food Bazaar), Fine Dining Restaurants, Pubs and Discotheques.
The mall also has a separate section for services such as Travel, Finance, Investment, Insurance,
Concert/Cinema Ticket Booking, Bill Payments and other miscellaneous services. In addition,
Central houses Central Square, a dedicated space for product launches, impromptu events, daring
displays, exciting shows, and art exhibitions. Central is an integral part of the city and in the long
run a City should become part of CENTRAL!

In a short span of its existence Central has revolutionized and redefined the shopping experience
in India. At Central, customers no longer only shop, they get SHOP-ATAINED!

We invite you to experience this irresistible retail destination at Bangalore, Hyderabad and Pune
cities.

Planet Sports
India's largest multi-brand sports and lifestyle speciality retail chain, Planet Sports
offers the largest collection of International sports and lifestyle brands. Planet
Sports stores have extensive offerings for sportswear and equipment across all
categories including running, tennis, training, golf, fitness, basketball, motor sports
as well as other lifestyle products.

Also available at the Planet Sports stores are lifestyle products across categories
like footwear, apparel, accessories and sports equipments.

Planet Sports prides itself for the sports expertise it has built over time and also for
having introduced renowned brands across sports categories like swimming, tennis,
squash, badminton, soccer, golf and basketball. Its brand portfolio includes leading
sports brands like Converse, Speedo, Wilson, Prince, Callaway, Spalding,
Airwalk, Adidas, Puma, Nike and Reebok.

One of the most preferred destinations for sports lovers as well as avid sports
professionals, over time, Planet Sports has become an ideal conduit for the latest in
global trends in the sports and lifestyle segment.

The aim of the company is to be the most admired sports player in a multi-sports,
multi-product format and to augment India’s sports culture. Planet Sports strives to
provide integrated, reliable and cost efficient sports offerings to Indian consumers.
At the core of Planet Sports lies its consistent endeavour to innovate, ideate and the
essence is well reflected when they say “For the Sports called Life.”

Lee Cooper

legacy of 100 years combined with best fabrics, coolest fits, most amazing washes and the finest
quality denims, that’s what Lee Cooper is all about.

Founded in 1908 by Morris Cooper, Lee Cooper is one of the original denim brands in the world
today. Since inception, Lee Cooper has been at the forefront of British and European fashion for
decades leading trends, developing innovations and driving youth culture. Already distinguished
from its American counterparts as ‘the Great British and Original European Jeans’ brand, Lee
Cooper is now in India, as Lee Cooper India Ltd.

In India, the brand maintains its global promises of offering exceptional young products
supported by a communication message that mixes fashion, sport and entertainment, enhanced
by fantastic product images. Regarded as a brand that is fun to wear and be associated with, Lee
Cooper offers the entire range of lifestyle products in the fashion category for young men and
ladies.

The brand is distributed through exclusive brand stores and large format stores such as Central,
Pantaloons etc. The casual wear range includes jeans, shirts, T-shirts, shorts, non-denim
trousers, sweaters, sweatshirts, capris etc. The lifestyle brands from Lee Cooper include:

• Lee Cooper: Men and women.

• Blue Diamond: An exclusive casual line for men and women for the Indian market.
• Lee Coopers Juniors: For boys and girls between 4-14 years.

Lee Cooper through Famous Basics offers a great range at affordable prices without
compromising on the quality. You can find a range of Men’s shirts, knits and denims, as well as
women’s range of shirts, knits and denims. These are available at all Big Bazaar and
Fashion@Big Bazaar stores.

In India, the company also markets Lee Cooper sunglasses and eyewear.
Over a period of 100 years, Lee Cooper has established a cult following amongst people from all
spheres of life. Shoppers can get a glimpse of Lee Cooper’s much revered past at their exclusive
stores, which showcase the magical and nostalgic moments of the journey of the brand, right
from its inception till date.

HomeTown
A home is a space away from the world, a comfort zone. Therefore, the process of setting it up
should be equally comfortable and convenient.

HomeTown, a unique, first of its kind home improvement retail format in India, is a one-stop
destination for complete home-making solutions. It provides consumers, all that goes into
building a house and everything to make it a ‘Home’, all under one roof.

It offers a home making experience that is democratic, hassle free and convenient, with an array
of home products and services of skilled technicians. All of this comes with service and product
warranties and great affordable prices.

HomeTown’s range of products include:

• Furniture
• Bath and Sanitary Ware
• Modular Kitchens
• Paints and Wallpaper
• Tiles and Wooden Flooring
• Carpentry and Hardware
• Electricals and Decor Lighting
• Electronics
• Furnishings and Accessories

The format also offers a one of its kind Design and Build service, which encompasses
experienced designers who help design the home, and a team of skilled technicians for services
like carpentry, flooring and tile installation, plumbing, sanitary ware installation, painting and
wall paper, electrical fittings and much more. Design and Build is flexible, transparent and easy
on the pocket.
EXPERIENCE EELECTRONICS E zone

Sight, Sound, Smell, Taste and Touch.

Bring all your senses alive for a “never before” shopping experience at eZone, the electronics
specialty store that offers a wide range of leading consumer durables & electronics brands, to
meet the electronics needs of the entire family.

eZone, with the catch phrase ‘experience electronics’ is an experience led lifestyle format that
brings together the best in national and international consumer electronic and durables brands in
a family-centric environment.
Typically in excess of 12,000 square feet in size, an eZone store truly enables you to experience
electronics, through three dedicated zones - Liberation Zone, Experience Zone and Home Zone.

The Liberation Zone offers personal products like computers, laptops, handy cams, MP 3
players and mobile phones. While entertainment products such as Plasma / LCD, Flat TV’s,
Home Theatre systems, DVD players, and Stereo systems are displayed in the Experience Zone.
And in the Home Zone segment, one gets to pick electronic goods of his or her choice including
Refrigerators, Air Conditioners, washing machines and Microwave ovens among other kitchen
related appliances.

eZone is not only about showcasing electronics products and gadgets, but providing you with a
complete shopping experience through touch & feel, allowing you to pick and choose from an
array of best of brands under one roof. eZones are primarily stand alone concepts, but are also
present within the Central malls.

E-Care - the special post-purchase customer

service support
eZone also offers an unparalleled service and support through the special ‘E-Care’ customer
support centre. E-Care is a special, dedicated support system designed to offer the best customer
service after purchase of any product at EZone.

Furniture Bazaar
Furniture Bazaar is the specialty Furniture & Home Décor Store that attempts to democratize the
process of home decoration by offering the trendiest Indian and imported products at the most
affordable prices.

Located within most Big Bazaar stores and as stand-alone outlets, it offers a complete range of
quality furniture, modular kitchens, lighting, furnishings, crockery and home accents at
affordable prices. The store provides a live display of living rooms, bedrooms & modular
kitchens with furnishings and accessories to provide customers a first hand look and feel of how
the furniture would look in their homes.

Sourced from various international destinations, the store caters to the furniture and home décor
needs of your entire family.

At Furniture Bazaar you will find the a live display of living rooms, bedrooms & modular
kitchens with furnishings and accessories to provide you a first hand look and feel of how the
furniture would look in your home.

Collection
Collection i is a lifestyle furniture retail format that is built on the concept of Ideas for good
living. Positioned as a complete ‘lifestyle’ solutions offering, for the homemaker, Collection i
stores are designed to showcase the best of furniture in the segments of Living and Dining,
Bedroom, Modular Kitchens and Childrens’ furniture.

Today, customers have greater sensitivity towards the look of their home. For them, Home is no
longer just an indicator of status; it reflects their interests, lifestyle, global outlook and multi-
dimensional personalities. Collection i provides solutions that meet this evolving lifestyle by
offering products which are in-sync with the latest international home-making trends, designs,
sizes, choices, special features and configurations.

Collection i is positioned to sell complete solutions for the homemaker as opposed to selling
individual products. As such, the store provides a live display of living rooms, dining rooms,
bedrooms & modular kitchens with furnishings and accessories to provide customers a first hand
look and feel of how the furniture would look in their homes. Collection i also provides the
customers the flexibility of adding or substituting accessories and accents to the display, thereby
creating their own ideas for their home.

In-house designer
Collection i has an in-house designer available to help you mix and match furniture, furnishings
and accessories to create those perfect rooms. This service is offered free of cost to customers.

Helpful Post-Purchase Support with one year warranty

Collection i also offers a dedicated support personnel for installation of the furniture and
complete support and service back up. Post purchase support and the one year warranty will
ensure a hassle-free post-purchase experience for you

Shoe Factory
Amazing Choices Amazing Prices

Shoe factory brings with it a fresh experience in footwear retailing. A value format, to the core,
Shoe Factory offers a huge range to choose from. Be it any brand, any size or for any occasion
you will find it all here.

Shoe factory showcases a wide range of the latest and trendiest footwear and accessories, at great
prices.

Flagged off in 2006, in Ahmedabad, Shoe factory will soon be seen in other towns and cities
bringing with it a new chapter in footwear retail.

When at a shoe factory store, you are bound to notice the simplicity of navigating through well-
defined zones for Men, Women and Kids footwear. Even the display is by Style, by Brands and
by Size, ensuring that shopping for footwear becomes easy and fun.

Depot

Books, Music & Gifts

Depot is one of the youngest brands from the Pantaloon stable and is a tribute to our freedom of
thought, speech and expression shared in a novel fashion with customers as books, multimedia,
toys, stationary and gifts.

Depot is all about freedom and democracy and this is reflected in the relaxed manner in which
products are displayed, the affordable pricing, the strong local flavour, the young, lively and
interactive store experience, that are all designed in a way to liberate these categories and
transform the way they are bought, sold and perceived in India.

At Depot, book lovers are offered a range of books that meet the needs and preference of every
age group. From fiction to general reference, management and children’s material, you will find
it all at Depot.
Music buffs are invited to select from a wide category of music CDs and cassettes spanning all
genres like Rock, Pop, Hindi, Indipop and more. For the movie enthusiasts out there, we have a
great selection of home videos (VCD and DVD) and multimedia (CD-ROMs).

Depot Store also has an attractive selection of gifts (candles, mugs, photo frames, themed packs)
toys and stationery (office, children’s and fancy stationery) ensuring this is a one-stop shop for
everyone and anyone who plans to gift their loved ones.

At Depot we endeavour to give our customers an Indian experience where we celebrate and give
due importance to regional literature and music. In this regard, Depot aims to become a strong
member of the local communities it operates in through a variety of events, engagements and
social initiatives and we will be happy to keep you posted on these activities from time to time.

Depot is a lively, colourful, vibrant and happy retail space, which we hope you will visit in the
near future. Inviting Reading Corners where you can be comfortable with a book of your choice
and an Interactive Zone where you get to try out new board games, read new books, check out
new toys and browse at the Interactive kiosk, await you at Depot.

Future Group
Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of India’s leading
business houses with multiple businesses spanning across the consumption space. While retail
forms the core business activity of Future Group, group subsidiaries are present in consumer
finance, capital, insurance, leisure and entertainment, brand development, retail real estate
development, retail media and logistics.

Led by its flagship enterprise, Pantaloon Retail, the group operates over 16 million square feet of
retail space in 73 cities and towns and 65 rural locations across India. Headquartered in Mumbai
(Bombay), Pantaloon Retail employs around 30,000 people and is listed on the Indian stock
exchanges. The company follows a multi-format retail strategy that captures almost the entire
consumption basket of Indian customers. In the lifestyle segment, the group operates Pantaloons,
a fashion retail chain and Central, a chain of seamless malls. In the value segment, its marquee
brand, Big Bazaar is a hypermarket format that combines the look, touch and feel of Indian
bazaars with the choice and convenience of modern retail.

The group’s speciality retail formats include supermarket chain - Food Bazaar, sportswear
retailer - Planet Sports, electronics retailer - eZone, home improvement chain -Home Town and
rural retail chain - Aadhaar, among others. It also operates popular shopping portal -
www.futurebazaar.com.
Future Group believes in developing strong insights on Indian consumers and building
businesses based on Indian ideas, as espoused in the group’s core value of ‘Indianness.’ The
group’s corporate credo is, ‘Rewrite rules, Retain values.’