What is the story behind big bazaar?

Big Bazaar's bold vision Back in 2001, Kishore Biyani had a vision to create a shopping destination that offered everything under one roof at unbeatable prices. Inspired by the "low margin, high turnover" model of local stores like Saravana, Big Bazaar aimed to be India's answer to Walmart.

What is the history of Big Bazaar?

Founded in 2001, Big Bazaar is one of the oldest and largest hypermarket chains of India, housing about 300+ stores in over 120 cities and towns across the country.

Why did Big Bazaar fail?

Ineffective Model of Pricing and Promotional Strategies: Pricing and promotional strategies of Big Bazaar failed to align with customers. While the brand had its positioning in terms of being a value-for-money retailer, competitors gave same kind of products at more competitive prices.

Who is the owner of Big Bazar?

Kishore Biyani

Over the past two decades he has created and leads some of India's most popular retail chains like Big Bazaar, Central, Brand Factory, Foodhall, fbb, among others. Over time, various retail chains like Nilgiris, Aadhaar, Easyday, Heritage, HyperCity and others have also become part of Future Group.

Who founded Big Bazar?

Big Bazaar, founded by Kishore Biyani in 2001, quickly became one of India's largest retail chains. The business model of Big Bazaar was centered on offering a wide range of products at affordable prices, targeting the middle and lower-middle-class segments of Indian society.

The Painful Downfall of Big Bazaar

What is the debt of Kishore Biyani?

Future Group promoter Kishore Biyani has reportedly settled dues worth Rs 571 crore to lenders of Bansi Mall Management Company by making a one-time settlement of Rs 476 crore.

What is the business model of Big Bazaar?

Big Bazaar leverages social media campaigns as its main channel for online marketing and e-commerce. It has tie-ups with various E-Wallets (PhonePe, GooglePay, Paytm) to offer additional discounts and cashback to its loyal customers. For increasing brand loyalty, value-added cards and coupons are given to consumers.

Who is Rakesh Biyani?

Rakesh Biyani is a Joint Managing Director of Future Retail Limited. He has been associated with the company for over 20 years. In his executive role as the Joint Managing Director, Rakesh Biyani leads the management and expansion of the company's flagship formats, Central, Big Bazaar and Food Bazaar.

Is Kishore Biyani a billionaire?

At the peak of his business success, Kishore Biyani had net worth pegged at USD 1.78 billion in 2019, according to Forbes. However, after bankruptcy, his current wealth is believed to be a fraction of the fortune he once owned.

What is the market capital of Big Bazaar?

Big Bazaar and fbb continue to be the most recalled retail brands and have maintained their lead for the last decade or so. Market Cap ₹ 124 Cr.

What happened with Kishore Biyani?

In 2022, around 200 retail stores of Future Group such as Big Bazaar were replaced by Smart Bazaar across the nation and many ended up just shutting down. In April 2024, Biyani sold his oldest SOBO Central Mall, Mumbai to K Raheja Corp at a settlement of Rs. 476 crore.

What brands are under Big Bazaar?

What is the bazaar famous for?

Bazaars or souks are traditionally divided into specialized sections dealing in specific types of product, each usually housed in a few narrow streets and named after the product it specializes in such as the gold souk, the textile souk, the spice souk, the leather souk, the booksellers' souk, etc.

Who is lifestyle owned by?

Lifestyle is a fashion retail store chain owned by Dubai-based conglomerate Landmark Group. Lifestyle's inventory consists of Indian and western apparels, footwear, handbags, beauty products, and fashion accessories for men, women, and children.

What is the largest covered bazaar in the world?

The Bazaar of Tabriz (Persian: بازار تبریز, also Romanized as Bāzār-e Tabriz Azerbaijani: تبریز بازاری, also Romanized as Tabriz Bazari) is a historic market in central Tabriz, Iran. It is one of the oldest bazaars in the Middle East and the largest covered bazaar in the world.

Who is the CEO of Big Bazar?

Retailing pioneer Kishore Biyani is the founder and group CEO of the $4.6 billion (revenue) retail giant Future Group. The group includes hypermarket chain Big Bazaar, food retailer Food Hall and convenience store chain EasyDay.

What is the debt of Biyani?

In a surprising turn of events, retail tycoon Kishore Biyani has made a ₹476-crore offer to lenders led by Canara Bank for a one-time settlement (OTS) of the ₹571 crore debt owed by Bansi Mall Management Co Pvt. Ltd. (BMMCPL), which owns the SOBO Central Mall in Mumbai.

Who is the king of retail in India?

New Delhi: Retail mogul Kishore Biyani stands as a prominent figure in Indian entrepreneurship, credited with pioneering the concept of retail supermarkets.

Who is Isha Biyani?

- Dynamic Fashion Brand Manager with a proven track record of success in leading and optimizing the performance of Luxe, Home-grown labels/Hidden Gems, and National brands in the women's Western wear category.

Who is Anil Biyani?

Anil Biyani is currently a Executive Director in Damodar Industries Ltd (as of Mar 2024). Anil Biyani is serving the company - Damodar Industries Ltd at this position since 2015 for the last 11+ years.

Who is Kailash Biyani?

About Kailash Biyani

Kailash Biyani is an Angel Investor from Mumbai. Prominent investment areas are Professional Services, Sales and Marketing, Fin-Tech and has invested in startups like Patilkaki, Banksathi, & Banksathi Technologies And Insurance Corporate Agency.

Who is the target market of Big Bazaar?

Big Bazaar is a chain of department stores in India owned by Future Group. It aims to reflect Indian bazaars with over 170,000 products at low prices. Big Bazaar targets middle and upper middle class customers, especially working women and homemakers.

What is the dark store business model in India?

Dark store business model supports multiple fulfillment options, including home delivery, in-store pickup, and curbside pickup. Dark shop setups are known to accurately fulfill orders with greater speed and efficiency. More brands are turning to micro fulfillment centers to reduce delivery expenses.

What is the mission statement of Big Bazaar?

VISION & MISSION OF BIG BAZAAR

We shall be efficient, cost conscious and committed to quality in whatever we do We shall ensure that our positive attitude, sincerity, humility and united,determination shall be the driving force to make us successful.

What is the personal life of Kishore Biyani?

Kishore Biyani was born in August, 1961 and is married to Sangita and they have two daughters. He recently authored a book, 'It Happened In India' that captures his entrepreneurial journey and the growth of modern retailing in India.