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SUMMARY:
BIG BAZAAR follows values such as – Leadership, Respect and Humility, Valuing and Nurturing Relationships, Simplicity and Positivity, Adaptability.
This research helps in finding out the customers view regarding the product and Services offered by the BIG BAZAAR and awareness by promotion and also identifying the market potential of BIG BAZAAR.
Slogan: 'NAYE INDIA KA BAZAAR'
The project was carried out in with an objective of knowing satisfaction level of customer at Big Bazaar and do customers are aware about the different type’s product and Services and different offers provide at Big Bazaar. The total sample size taken was one hundred (100) from various customers of Kolkata at Big Bazaar.
The research shows that the customer satisfaction at Big Bazaar is very good and so many customers are not aware of the product and services provided by the Big Bazaar which are not provided by other Retail stores. The existing customers of Big Bazaar satisfied with the working style of retail store, but want continuous updates about the new offers and other products of Big Bazaar. Big Bazaar should do promotional activity as – Advertising. So that they can be updated while seating at home.
1.1 COMPANY INTRODUCTION
Covering an operational retail space of over 9 million square feet, the company operates 163 Big Bazaar stores and 186 Food Bazaar stores, among other formats, in over 95 cities across the country..
Future Group
Future Group is India’s leading business group led by Mr. Kishore Biyani, the Future Group operates through: Retail, Capital, Brands, Space, Media and Logistics. 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. Some of its other formats include Depot, Shoe Factory, Brand Factory, Blue Sky, Fashion Station, Mobile Bazaar And Star Sitara( Beauty Clinic). The company also operates an online portal, futurebazaar.com. A subsidiary company, Home Solution Retail(India) Limited, operates Home Town, selling home furniture products and E-Zone focused on electronics segments. The group's subsidiary companies include, Home Solutions Retail India Ltd, Pantaloon Industries Ltd, Galaxy Entertainment and Indus League Clothing.
The group’s joint venture partners include French retailer ETAM group, US-based stationary products retailer, Staples and UK-based Lee Cooper. Group Company, Planet Retail, owns and operates the franchisee of international brands like Marks & Spencer, Next, Debenhams and Guess in India. The group’s Indian joint venture partners include, Manipal Healthcare, Talwalkar’s, Blue Foods and Liberty Shoes.
Future Capital Holdings, the group’s financial arm, focuses on asset management and consumer credit. It manages assets worth over $1 billion that are being invested in developing retail real estate and consumer-related brands and hotels. The group has launched a consumer credit and financial supermarket format, Future Money and soon plans to offer insurance products through a joint venture with Italian insurance major, Generali.
The Asia’s largest property companies Future Group’s vision is to, “Deliver Everything, Everywhere, Every time to Every Indian Consumer in the most profitable manner.” The group considers ‘Indian-ness’ as a core value and its corporate credo is - Rewrite rules, Retain values.
The motto of Future Group, to not to wait for the Future to unfold itself but create future scenarios in the consumer space and facilitate consumption because consumption is development. Thereby, it will effect socio-economic development for their customers, employees, shareholders, associates and partners. Their customers will not just get what they need, but also get them where, how and when they need. They are not just posting satisfactory results, they are writing success stories.
1.2 BIG BAZAAR TIMELINE
2001
• Three stores launched within a span of 22 days in Kolkata, Bangalore and Hyderabad
2002
• ICICI Bank Card is launched.
• Food Bazaar becomes part of Big Bazaar with the launch of the first store in Mumbai at High Street Phoenix
2003
• Enters Tier II cities with the launch of the store in Nagpur
• Welcomes its 10 millionth customer at its new store in Gurgaon
2004
• Wins its first award and national recognition. Big Bazaar and Food Bazaar awarded the country’s most admired retailer award in value retailing and food retailing segment at the India Retail Forum
2005
• Implementation of SAP and pilots a RFID project at its central warehouse in Tarapur
• Launch of a shopping program: the Big Bazaar Exchange Offer, inviting customers to exchange household junk at Big Bazaar
• Electronic Bazaar and Furniture Bazaar are launched
• Big Bazaar and ICICI Bank launched ICICI Bank-Big Bazaar Gold credit card program to reward its loyal customers.
2006
• Launches Shakhty, India’s first credit card program tailored for housewives
• Navaras – the jewelry store launched within Big Bazaar stores
2007
• The 50th Big Bazaar store is launched in Kanpur
• Partners with Futurebazaar.com to launch India's most popular shopping portal
• Initiates the "Power of One" campaign to help raise funds for the Save The Children India Fund.
• 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.
2008
• New section, Fashion@Big Bazaar, starts
• Voted among the top ten service brands in the country in the latest Pitch-IMRB international survey
• Initiates the Mega Saving "Monthly Bachat Bazaar" campaign, to provide deals on groceries and food items during the first week of every month.
2009
• Opens its second store in Assam at Tinsukia
• Initiates Maha Annasantarpane program at its stores in South India – an initiative to offer meals to visitors and support local social organizations
• Mahendra Singh Dhoni and Asin, youth icons of India, were chosen as the brand ambassadors of Big Bazaar
• Announced the launch of 'The Great Exchange Offer'
• Formed a joint venture with Hidesign to launch Holii, a new brand of handbags, laptop bags and other accessories.
2010
• Future Value Retail Limited is formed as a subsidiary to spearhead the group’s value retail business through Big Bazaar, Food Bazaar and other formats.
• Wins CNBC Awaaz Consumer Awards for the third consecutive year. Adjudged the Most Preferred Multi Brand Food & Beverage Chain, Most Preferred Multi Brand Retail Outlet and Most Preferred Multi Brand One Stop Shop
• Opens its third store in Kanpur at Z Square Mall
• Vidya Balan was chosen as the brand ambassador of Big Bazaar's Price Challenge exercise
• Ranked six among the Top 50 Service Brands in India.
2011
• Enters the rural wholesale and distribution business through 'Aadhaar Wholesale' store at Kalol, Gujarat.
• Big Bazaar has come up a new logo with a new tag line: 'Naye India Ka Bazaar'.
1.3 ABOUT BIG BAZAR
Future Retails was incorporated in 1987 as Manz Wear, which launched Pantaloons trousers. It became India’s first formal trouser brand. Later it launched Bare, a jeans brand. In 1994 it opened The Pantaloon Shoppe, a store in the franchise format exclusive for menswear. From then company started the retail chain for branded garments. It 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 1,000 stores across 73 cities in India and employs over 30,000 people.
The company operates 148 Big Bazaar stores, 169 Food Bazaar stores, among other formats, in over 70 cities across the country, covering an operational retail space of over 6 million square feet. A subsidiary company, Home Solutions Retail (India) Limited, operates Home Town, a large–format home solutions store, Collection selling home furniture products and eZone focused 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.
1.4 GROUP COMPANIES
Home Solutions Retail (India) Limited
Home Solutions Retail (India) Limited (HSRIL) offers complete retailing solutions for all products and services related to home building and home improvement. The key product categories are Consumer Durable & Electronics (CDE), Furniture, Home furnishing and decor, Home improvement and Home services. HSRIL operates retail format Collection, Furniture Bazaar, Electronics Bazaar, Home Town and e–zone.
Future Brands Limited
Future Brands Limited (FBL) has been incorporated on November, 2006 and is involved in the business of creating, developing, managing, acquiring and dealing in consumer–related brands and IPRs (Intellectual Property Rights).
Future Supply Chain Solutions Limited
` Future Supply Chain Solutions Limited (FSCS) has been incorporated as a separate entity and is involved in the business of providing logistics, transportation and warehousing services for all group companies and third–parties.
Future Axiom Telecom Limited
Future Axiom Telecom Limited is a Joint Venture with Axiom Telecom LLC, UAE. The Company has a 50% stake in Future Axiom Telecom Limited (FATL) which is a joint venture Company with Axiom Telecom LLC, UAE. The Company would be engaged in sourcing and wholesale distribution of mobile handsets, accessories and in setting up service centers for mobile handsets in India.
Pantaloon Food Product (India) Limited
Pantaloon Food Product (India) Limited (PFPIL) was incorporated with the object of sourcing and backward integration of food business of the Company. PFPIL has sourcing and distribution bases at all key cities across the country.
Future Knowledge Services Limited
Future Knowledge Services Limited (FKSL) was incorporated on January, 2007 and is engaged in the business of business process outsourcing and knowledge process outsourcing.
Future Capital Holdings Limited
Future Capital Holdings Limited (FCH) was formed to manage the financial services business of Pantaloon Retail (India) Limited and other group entities. FCH is one of the fastest growing financial services company in India, with presence in Asset Advisory, Retail Financial Services and Proprietary Research. The company operates a consumer finance retail format, Future Money and manages assets worth over US$ 1 Billion through Indivision, Kshitij, Horizon and Future Hospitality Funds. FCH subsidiary companies include Kshitij Investment Advisory Company Ltd., Ambit Investment Advisory Company Ltd., and Indivision Investment Advisors Ltd.
Future Generali India Insurance Company Limited
Future Generali India Insurance Company Limited (FGIICL) was incorporated on October 30, 2006 to undertake and carry on the business of general insurance. The approval for carrying on General Insurance Business has been received from the Insurance Regulatory and Development Authority of India (IRDA) on September 4, 2007.
Future Generali India Life Insurance Company Limited
Future Generali India Life Insurance Company Limited (FGILICL) was incorporated on October 30, 2006 to establish and conduct the business of life insurance in India, which comprises of whole life insurance, endowment insurance, double benefit and multiple benefits insurance etc. The approval for carrying on Life Insurance Business
Futurebazaar India Limited
Futurebazaar India Limited (FBIL) is set up as the e–Retailing arm of the Future Group for providing on–line shopping experience. Futurebazaar.com was launched on January 2, 2007, and has emerged as one of the most popular online shopping portals in India. It was awarded with the “Best Indian Website” award, in the shopping category, by the PC World Indian Website Awards.
Staples Future Office Products Private Limited
Staples Future Office Products Private Limited (SFOPPL) was incorporated on January, 2007 and is involved in the business of dealing in all kinds of office supplies, office equipments and products. SFOPPL is a joint venture between the Company and Staples Asia Investment Limited (a subsidiary of Staples Inc USA). The company’s first retail outlet opened in Bangalore in December, 2007.
1.5 AWARDS
2003
• Indian Express Award – Marketing Excellence and Excellence in Brand Building
• Indusland Bank (India Brand Summit) – Excellence in Brand Building
2004
• Reid & Taylor and DLF Awards – Retailer of the year
• Images Retail Awards 2004 – Most Admired Retailer of the Year
2005
• DAKS London – Brand Builder of the Year
• Images Retail Awards 2005 – Most Admired Retailer of the Year
2006
Retail Asia Pacific Top 500 Awards – Asia Pacific Best of the Best Retailers – Pantaloon Retail (India) Ltd – Best Retailer in India
2007
• Hewitt Best Employers 2007 – Best Employers in India (Rank 14th)
• World Retail Congress Awards – Emerging Market Retailer of the Year 2007
• National Retail Federation Awards – International Retailer for the Year 2007
• Images Retail Awards – Most admired Retail Company of the year
2008
The INDIASTAR Award 2008 – Food Bazaar bagged the INDIASTAR Award for Best Packaging Innovation in India, for its private label brand Fresh and Pure Chakki Atta. With this award, Pantaloon Retail (India) Limited becomes the first Indian Retailer to win the prestigious INDIASTAR Award.
2009
CNBC Awaaz Consumer Awards 2009
• Most Preferred Multi Product Chain – Big Bazaar
• Most Preferred Multi Brand Food & Beverage Chain – Big Bazaar
Images Fashion Forum 2009
• Most Admired Fashion Group of the Year – Future Group
• Most Admired Private Label – Pantaloons, the lifestyle format
• Critic’s Choice for Pioneering Effort in Retail Concept Creation – Central
Coca–Cola Golden Spoon Awards 2009
• Most Admired Food & Grocery Retailer of the Year
• Most Admired Food Court
• Most Admired Food Professional
2012
Brand Equity Most Trusted Brands 2012
Retail Asia Pacific Top 500 2012
Pantaloon Retail India Received Certificate oF Distinction in Top 10 Retailers Award, India
Star Retailer Awards 2012
Asia Recognition Award 2012
Images Fashion Awards (IFA) 2012
CISO Award 2012
Golden Spoon Awards 2012
Images Fashion Awards (IFA) 2012
ET Retail Awards 2012
Recognition by CMO Council, USA and CMO Asia
Bloomberg UTV B–School Excellence Award
2013
Consumer Survey of Product Innovation 2013
Images Fashion Awards 2013
The Global Innovation Award
Retailer Technology Awards 2013
Rural Marketing Association of India's (RMAI) Corporate Awards 2012
1.6MILESTONES
1987 – Company incorporated as Manz Wear Private Limited. Launch of Pantaloons trouser, India’s first formal trouser brand.
1991 – Launch of BARE, the Indian jeans brand.
1992 – Initial public offer (IPO) was made in the month of May.
1994 – The Pantaloon Shoppe – exclusive menswear store in franchisee format launched across the nation. The company starts the distribution of branded garments through multi–brand retail outlets across the nation.
1995 – John Miller – Formal shirt brand launched.
1997 – Company enters modern retail with the launch of the first 8000 square feet store, Pantaloons in Kolkata.
2001 – Three Big Bazaar stores launched within a span of 22 days in Kolkata, Bangalore and Hyderabad.
2002 – Food Bazaar, the supermarket chain is launched.
2004 – Central – India’s 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 India’s first real estate investment fund Kshitij to build a chain of shopping malls
2006
• Future Capital Holdings, the company’s 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 ventures with US office stationery retailer, Staples
2007
• Future Group crosses $1 billion turnover mark.
• Specialized 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 India’s 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.
• Big Bazaar crosses the 100–store mark, marking one of the fastest ever expansion of a hypermarket format anywhere in the world.
• Total operational retail space crosses 10 million square feet mark.
• Future Group acquires rural retail chain, Aadhar present in 65 rural locations.
2010
• Future Value Retail Limited is formed as a specialized subsidiary to spearhead the group's value retail business through Big Bazaar, Food Bazaar and other formats
• Pantaloons opened its 50th flagship store in New Delhi on 27th November 2010
• Big Bazaar introduced Family Centre in Kolkata on 27th March 2010
• Big Bazaar opened its first store in Jalandar and Amravati
• Pantaloons forayed in Allahabad, Bhopal and Aurangabad
• Future Group launched 'The Great Indian Shopping Festival'
• Future Group announced the launch of mobile telephony services under the brand name T24 on the GSM platform
2011
• Future Group entered elite gourmet retailing with the launch of its first gourmet food chain Food hall in Mumbai on 26th May 2011
• Pantaloons launched its revamped Green Card Loyalty Programme
• Pantaloons forayed in Coimbatore, Durgapur and Vizag
• Big Bazaar opened its first store in Himachal Pradesh on 21st May 2011
2012
• On 1st May 2012, the company introduced a new retail initiative – Public Holiday Sale
• Food hall the premium lifestyle food destination launched its second store in Bangalore on 4th May 2012
• Future Sharp Skills Ltd. launched its first skill centre in Kolkata with a vision to train and provide sustainable livelihood to five lakh youth of West Bengal by 2022
• Pantaloons launched its first store in Ludhiana, Visakhapatnam, Bilaspur
• Future Group started Aadhaar Franchise
• Pantaloons joined hands with PAYBACK . Being India's largest and one of the strongest loyalty programs in Europe, PAYBACK offers were made available to all Pantaloons customers
• Big Bazaar launched its home delivery services in Mumbai
2013
• Food hall, the premium lifestyle food destination launched in Pune.
• Future Group successfully introduced 'Big Bazaar Direct' an assisted shopping concept where franchises will sell Big Bazaar products through a catalogue on a 'tablet'.
• Future Group officially launched India's largest State of the Art Logistical Distribution Hub at Nagpur.
• Food hall, the premium lifestyle food destination launched in New Delhi.
• Future Sharp, the Future Group arm that trains and develops the skills of youth opened its new skill centre in Nashik.
1.7 BOARD OF DIRECTORS
Mr. Kishore Biyani, Managing Director
Mr. Gopikishan Biyani, Whole Time Director
Mr. Rakesh Biyani, CEO – Retail
Ved Prakash Arya, Independent Director
Mr. Shailesh Haribhakti, Independent Director
Mr. S.Doreswamy, Independent Director
Dr. D.O.Koshy, Independent Director
Ms. Anju Poddar, Independent Director
Ms.Bala Deshpande, Independent Director
Mr.Anil Harish, Independent Director
1.8 DIFFERENT FORMATS OF FUTURE GROUP
Format -1
Pantaloon Retail (India) Limited, is India's leading retail company .The company owns and manages multiple retail formats that cater to a wide cross-section of the Indian society and is able to capture almost the entire consumption basket of the Indian consumer. Headquartered in Mumbai (Bombay), the company operates through 5 million square feet of retail space, has over 331 stores across 40 cities in India and employs over 17,000 people.
Pantaloon Retail forayed into modern retail in 1997 with the launching of fashion retail chain, Pantaloons in Kolkata. In 2001, it launched Big Bazaar, a hypermarket chain that combines the look and feel of Indian bazaars, with aspects of modern retail, like choice, convenience and hygiene. Food Bazaar, food and grocery chain and launch Central, a first of its kind seamless mall located in the heart of major Indian cities, followed this. Some of its other formats include, Collection i (home improvement products), E-Zone (consumer electronics), Depot (books, music, gifts and stationary), all (fashion apparel for plus-size individuals), Shoe Factory (footwear) and Blue Sky (fashion accessories). It has recently launched its entailing venture, future bazaar.com
Background: Founded in 1987 as a garment manufacturing company, the company forayed into modern retail in August 1997 with the launch of its first department store, Pantaloons in Kolkata.
Listing: Pantaloon Retail is a listed company on the Bombay Stock Exchange (BSE, Scrip Code: 523574) and National Stock Exchange (NSE, Symbol: PANTALOONR).
Format-2
CENTRAL
Central, the showcase seamless mall concept is one of the more popular offerings in the lifestyle segment that celebrates shopping in India. During the year, Central capitalized on its positioning of being a destination where citizens can just come and unwind, whether it’s for shopping for a wide range of national and international brands, enjoying their favorite cuisine at the multiple specialty restaurants and food courts or watching the latest movie releases at the in-house multiplexes.
The most reputed brands are showcased in Central. It is also emerging as the destination of first choice for new fashion brands in India. Central assures better visibility, instant recognition, good quality and commercially viable space on the basis of the optimum space utilization concept, taking the brand closer to the consumer. With brands within central competing against the best brands in the country, it also allows benchmarking for these brands.
The coming year will also witness many new concepts being introduced at all
Central malls. Some of these concepts include communications (MPort and Gen M), electronics (E-Zone), furniture and accents (Collection I), fitness equipments and wellness zones, books, music, gifts & stationery (Depot) and fine dining restaurants etc. Some of the new alliances that the group has entered into, like Etam, Lee Cooper and Gini & Jony will also share space within all Central malls.
PLANET RETAIL
A young and emerging India is also eager to experience international brands. We sensed this opportunity some time back and have built a strong portfolio of international brands through our strategic partnership with Planet Retail Holdings Pvt. Ltd. The alliance with Planet Retail provides access to international fashion retail chains like Marks & Spencer, with 9 stores at present; Guess the US brand that has 12 retail stores currently, and the Spanish brand Women’s Secret which is retailed through 2 outlets. Planet Retail also has a multi-brand international sportswear format under the brand ‘Planet Sports’. The company is the sole licensee for sportswear brands such as Converse, Spalding and the Athlete’s Foot the venture has also launched other formats like Sports Warehouse, Accessorize, Monsoon, Next, and Debenhams.
Depot
This largely untapped unorganized market for books and music with very few players, throws up an enormous opportunity; something that prompted Pantaloon to make its foray through its own format, Depot in 2005-06. Located as stand-alone stores and within most Pantaloons, Central and Big Bazaar retail formats, Depot’s vision is to be a one-stop shop where customers will find an extensive range of books, multimedia, toys, gifts and stationery, thereby transforming the way books, music, multimedia and gifts are bought, sold and perceived in India. This would be made possible by the creation of a portfolio of exclusive titles, an Indian experience while shopping and connecting with the mind and soul through different languages, ideas and tunes.
Books, Music and Gifts
Reading as a habit is ingrained into the Indian psyche from time immemorial. However, it is being increasingly associated with a select few. The company believes that existing formats in the segment offer an intimidating environment that alienates the masses. The company has therefore taken this initiative of launching a chain of books, music and gifts stores that will once again democratize the reading habit in the country. The company believes that with 1.2 billion people, the habit of reading can become a strong business proposition. Depot seeks to work with communities in and around the area where it is located and hopes to attract the entire family to spend quality time together. It is focusing on the introduction of old classics and books in regional languages with an objective to make these affordable to a mass audience.
Format-5
Fashion Station
Fashion Station, which represents the company’s offering of the latest in fashion for the masses, has met with reasonable success since its launch in 2004-05. These thematic stores that offer the most contemporary in fashion and accessories, is another of the value added propositions that Pantaloon seeks to offer. The aspirational mass of consumers who are bombarded with the latest in style through media penetration, hedonism and peer emulation, need an outlet that meets their requirements of trendy, latest and yet affordable fashion. Fashion Station is positioned to meet their requirements, and thereby take fashion to the masses.
Format-6
Home Improvement
Some of the key factors contributing to growth in the housing sector in India are increasing purchasing power increasing number of nuclear families, softer interest rates, easy availability of finance schemes and an overall real estate boom across the country. There is a shortage of more than 33 million dwelling units. With the average age of a homebuyer reducing from 50 to sub-30, 4 million new homes are being bought annually. With every house, a dream is planted to decorate the house. And this creates a demand for furniture, electronics and home improvement products. Modern retail is ideally placed to capture a significant chunk of consumer spend made by a new homebuyer. The market for home décor and improvement is largely unorganized and hence a new homeowner has to literally visit several markets and stores for meeting his home needs. This was the opportunity that Pantaloon perceived and the reason why it entered the Rs. 90,000 crore home solutions market in 2004-05. With its presence in the modern retail and consumer space, this new concept was an opportunity for the company to leverage its experience and offer the consumer an alternative solution to canalize his consumption needs.
In the Rs.25000 crore consumer durable industry, which is growing at nearly 6 per cent every year, E-Zone has already emerged as a force to reckon with. This lifestyle retail format offers a never experienced before environment for shopping for the best in national and international consumer electronic and durables brands. It retails products ranging from music systems to laptops, from the latest plasma television sets to DVD players, from washing machines to air-conditioners to name a few. Typically in excess of 12,000 square feet in size, E-Zones are primarily stand-alone concepts, but are also present within the company’s Central malls
COMMUNICATION
With over 2 billion phone users worldwide, mobility has now become an intrinsic part of our personal and working lives. Mobile operators, cell phone manufacturers, content publishers, wireless application service providers and many other key players in the mobile industry are all working to carve out the best position in the value chain, to find the right place from where they can best serve both their own and their customers’ needs. En route towards 3 billion phones worldwide, a major shift would occur in consumer interest from carriage to content and from a verbal to a growing visual world. With more mobile cameras sold in 2005 than digital cameras, with more music/video players in mobiles than iPods, with more messaging reach than PCs, convergence with the online world is now very much a reality. In India, the story is no different. With over 150 million mobile subscribers expected by 2008, there exists a huge potential for all players in the mobility space. Most of the mobile phones in India are sold through ‘mom and pop ‘stores, and there is a huge grey market that exists.
MBazaar
Pantaloon realized this largely untapped opportunity and intended to be a dominant modern retail player in the mobile space. This is what prompted the company to set up a new division ConvergeM in 2005-06 to identify, develop and bring to the market, mobile products and solutions tailor-made to suit the consumers requirements at competitive prices. ConvergeM adopts a unique approach of establishing, multi-brand, multi-category, multi-format and comprehensive solution outlets to lead and exponentially expand the market. As in most other formats, ConvergeM too operates in the lifestyle and value platforms. Its value offering, MBazaar is a format that addresses the value seeker’s quest for possessing latest technologies at lowest prices. Primarily aimed at the replacement market, a typical
MBazaar is located within most Big Bazaar stores as well as stand-alone options. This 250-500 square feet offering retails both GSM and CDMA and landline phones, while providing options of M Pods, downloads to name a few. The mission for Converge M is to emerge as the largest organized retailer in the mobile space, while leading innovation in mobile applications and being the most favored destination for all communication needs.
Format-8
Restaurant, Leisure & Entertainment
Increasing urbanization and rising disposable incomes are characteristics that are common in emerging economies like India. Estimates suggest a growth in urban consumption at potentially 20% per annum in nominal terms for at least the next 5-7 year period.
The total number of middle to high income households is projected to reach 105 million by 2010, thereby adding a large number of people to the consuming class. These demographic numbers represent a young nation, which has an increased propensity to spend in restaurants and other food service sectors, fuelling growth in the Leisure, Restaurants and Entertainment industries.
The company is using the collaborative approach to strengthen its position in the leisure and entertainment space. This has helped the company build a complete bouquet of brands that span from food courts to fine dining. As the shift from high street to malls continues, the restaurant business is expected to increase significantly. For Indians, shopping comes hand in hand with eating and celebrating and these formats are being developed keeping this in mind. F123 is designed as an entertainment zone that can be present in every mall and this business is expected to gain traction in the coming year.
F123, the entertainment zone offering is a leisure solution for all age groups. The focus would be to offer a wide range of gaming options from bowling and pool, interactive video games to bumper cars. The entire concept is built around international thinking and gaming knowledge, with Indian pricing. For the year ending 2005-06, there were three F123’s operational, with the first one opening in November 2005.
Format-9
Star and Sitara
Delivery Formats Star & Sitara
In the beauty space, the company’s offering, Star & Sitara aims at pampering the beauty conscious consumer by offering the latest beauty products, ranging from cosmetics, skin and hair care, aromatherapy and fragrances. Star & Sitara is set to be part of most Big Bazaar and every Beauty and Health Mall, which the company is in the process of setting up. There were 6 Star & Sitara operational as on June 2006.
Star & Sitara Beauty Salon
Star & Sitara, the beauty services offering, doubles as a unique parlor and salon for men and women. Customers will be treated to the best quality hair and skin services at unbelievable prices. One such store was operational as on the 30th June 2006.
Beauty & Health Mall
Pantaloon, will be the first retailer in India to offer health, beauty and wellness products and services. This will be led through its Beauty & Health Mall format. Typically, of around 25,000 square feet each, these centers will include pharmacies and beauty product zones and a host of other offerings such as health cafes, gymnasium, healthcare services, retailing fitness equipments, yoga centers and books on health and fitness etc. The company plans to open at least three Health & Beauty Malls during the year 2006-07 in Bangalore, Ahmadabad and Mumbai.