Restructuring Pantaloon Retail: The 'Future Group' Initiative


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Case Details:

Case Code : BSTR227
Case Length : 18 Pages
Period : 2004-2006
Organization : Pantaloon Retail (India) Limited / Future Group
Pub Date : 2006
Teaching Note : Available
Countries : India
Retail

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Excerpts

Background Note

The history of PRIL can be traced to the mid-1980s, when Biyani, a commerce graduate quit his family business of trading textiles and yarn to start manufacturing apparels. In 1987, PRIL was incorporated as Manz Wear Pvt. Ltd. and manufactured readymade trousers under the 'Pantaloon' brand. On September 20, 1991, Manz Wear Pvt. Ltd., went public and in 1992, the name was changed to Pantaloon Fashions (India) Limited (PFIL). At that time, the company was distributing its garments across India through multi-brand garment stores.

In 1992, the company inaugurated its first exclusive men's store called Pantaloons Shoppe and by 1995, the number of stores had grown to 70, with most of them being franchisee outlets...

The 'Future Group'

In March 2006, the Pantaloon Knowledge Group, as part of its restructuring and expansion plans, changed its identity to the 'Future Group.' The new group was set up to drive growth through the use of consumer insights and scenario planning to design future retail delivery formats. Kishore Biyani, Chairman, PRIL, said, "India is changing rapidly and we believe that rather than look at the past to extrapolate or the West to emulate, we have to prepare ourselves by planning scenarios based on innovative and original research."...

New Business Ventures

As a part of the restructuring initiative, Biyani sought to take PRIL beyond conventional retail and cover the entire consumer space.

PRIL forayed into many businesses and formats by establishing subsidiaries and forming joint ventures with other companies (Refer to Exhibit III (A) for a list of joint ventures/acquisitions of PRIL/PIL, Exhibit III (B) for a list of subsidiaries of PRIL/PIL, and Exhibit III (C) for a list of new ventures of PRIL/PIL).

In January 2005, Pantaloon Industries Limited (PIL), a group company, acquired a 68 percent stake in the apparel company Indus League Clothing Ltd...

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