The Hindu Business Line : Piramyd Retail to rejig management structure

Post the departure of Mr Krish Iyer, erstwhile Managing Director & CEO, Piramyd Retail has decided to restructure its operations by having two separate CEOs for its Megastore and TruMart divisions.

While it has recently appointed Mr Bipin Gurnani as the CEO of Piramyd Megastore, the retail company is now scouting for a new CEO for TruMart - the division for food, home and personal care.

Besides, Mr Nandan Piramal is the Vice-Chairman and Executive Director of Piramyd Retail while his mother Ms Urvi Piramal will continue as the non-executive Chairperson for the company.

Mr Nandan Piramaltold Business Line, "For the business to expand and grow aggressively there was a need to have separate divisions. I was already a Director on the board and will now become the Executive Director of the company and there will no longer be a Managing Director in the company."

Added, Mr Gurnani "There will be special focus on both the divisions and each will be treated as a separate profit centre. Today, we are created verticals out of the business."

To focus on in-store labels

Meanwhile, Piramyd has decided to focus on its in-store labels with more brands planned in the footwear, kids and home décor segment. At present, in-store brands comprise names such as Venpiuno and Boston Club for men's wear, Rudra for women's wear and Peppermint for kid's wear. In-store labels contribute between 8 per cent and 9 per cent of Piramyd's Rs 200-crore turnover. "We have planned to add more private labels and expect this segment to contribute between 15-20 per cent of our total turnover," says Mr Gurnani.

At the same time, Piramyd Retail is looking at new formats in retailing especially in the area of services. Having forged a tie up with L'Oreal for salons, it is now scouting for a partner in the area of travel services. "We are looking at setting up a travel shop to improve the quality of shopping experience of our consumers. A pilot test is soon expected at our stores," states Mr Gurnani, who is constantly looking at creating sub categories as an extension to support the shopping experiences of consumers.

Meanwhile, Piramyd expects its non-apparel business to grow at 25-30 per cent rate compared to its apparel business, which is pegged to grow at 15 per cent. To give a boost to its apparel business especially men's wear, Piramyd is running a `men at work' promotion whereby it will be holding sessions from eminent corporate honchos about how to dress at work.

More Stories on : Retailing | Restructuring

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Radio Mirchi now in Jaipur, Bangalore

Non-compete clause bugs top guns

Reliance Retail hunt for talent has headhunters in a tizzy

Spurt in Govt ads during January-March 2006

Madison Media bags Blue Star account

Piramyd Retail to rejig management structure

Bharti to decide on retail foray soon

Mumbai outdoes Delhi in out-of-home viewing

Lenovo unveils dual-core notebook

TV9 Karnataka launch in June