Biyani's crack team to decide on group future
He is also a member of the Biyani Family Business Board, which oversees the promoter family’s business interests and has played a key role to scale up the value retail formats of Big Bazaar and Food Bazaar, which contribute a lion’s share of revenues.
“The bigger mandate for this team is to consolidate the value chain and integrate operations,” said a senior group official, on condition of anonymity. “There are many moving parts in this. And, one needs to be nimble. This is a standard practice followed by many boards. It’s like a board within a board for quicker implementation and cutting through bureaucracy,” Haribhakti told Business Standard.
Kishore Biyani, Managing Director of Pantaloon Retail, and Future Group CEO, was not available for comment.
So, what’s on the table? BS spoke to several people involved in the various initiatives to piece together the ambitious blueprint. Biyani’s retail empire has four pillars. Food, fashion, home & consumer electronics and, lastly, non-core businesses like financial services. Sources say while the plan is to consolidate the first two, in both home and financial services, Future Group is looking at minimising its exposure.
