The Hindu Business Line : Pantaloon's new look

Despite forays into many formats, Kishore Biyani is not ignoring his flagship store brand. Late last year, he refurbished its image. From being a family-oriented store, Pantaloon stores are being re-launched on the `youth' platform. Pantaloons now carries the `Fresh Fashion' statement across its 12 stores.

Pantaloons has tilted the balance of its merchandise, especially its apparel, in favour of its in-house brands such as UMM, Rig, Lombard, Bare and Denim.

"Today, our in-house labels form nearly 70-75 per cent of our apparel and we want our stores to be differentiated from the rest primarily on this account. We intend changing our fashions every 4-6 weeks," says Sanjeev Agrawal, President (Marketing), Pantaloon Retail.

Straddling both value and lifestyle retailing, Pantaloon Retail has been growing inorganically and organically. Picking up stakes in a host of companies such as Indus League Clothing, Planet Sports, Galaxy Entertainment, Gini & Jony and even forging joint ventures with Liberty Shoes, Pantaloon has been exploring synergistic advantages through such acquisitions. At the same time it has been growing organically through its own format stores such as Fashion Station, Chamosa, aLL, Central Mall and has floated a separate home retail company, Home Solutions. Leveraging its retail expertise for real estate and brand venture capital funding, it has also floated the Kshitij Fund.

Claims Biyani, "We have signed more than 10 million sq. ft. of retail space and the management of the venture capital fund for property will further that space. Between the domestic and international schemes, the venture is likely to develop 30 million sq. ft. and hopefully Pantaloon may get some space there too. We are looking at both inorganic and organic growth." Roping in some industry veterans, Biyani has built a strong management team. It comprises the likes of Sanjeev Gupta (Managing Director of the new venture capital fund) from Coca-Cola, Shishir Baijal (COO, Kshitij Fund) from Inox and Damodar Pal (President, Food Bazaar) from Hindustan Lever.

Competitors of Biyani don't hesitate to compliment the man on his vision and the aggressive speed with which he has emerged as the largest Indian retailer today. "Biyani's resource mobilisation with respect to funding, people and technology has held him in good stead," says Krish Iyer, the former MD and CEO at Pyramid Retail.

Says B.S. Nagesh, Managing Director & CEO, Shoppers' Stop, "His quest for more and his aggression in acquiring more property and businesses has helped." As for Biyani, he continues to believe in what Jonathan Livingston Seagull was trying to do. "There is a Jonathan Livingston Seagull in each of us. The best way to predict the future is to create it," he says.

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