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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
After building and then losing India’s biggest retail empire, Kishore Biyani and family are now scripting a discreet retail comeback with departmental store Broadway. Can they get the economics right this time around?
A newly opened Broadway store in Mumbai’s suburb of Bandra looks nothing like the Pantaloons outlet across the street. On a Saturday morning, the latter was mostly empty, while the former felt like a Gen Z Instagram feed playing out in real time, with digital-first brands and a bustling crowd.
The contrast is strikingly emblematic of the Biyani family’s turbulent business journey. Pantaloons is a reminder of what Kishore Biyani built and lost. The retail chain was sold to Aditya Birla Group to pare down debt of Biyani’s Future Group, which eventually collapsed. But it seems Biyani, recognized as the …
India’s neighbourhood shops withstood organized retail and e-commerce, but quick commerce’s speed and shifting consumer behaviour might finally break their resilience.
The struggling retailer’s directors have been accused of causing a massive loss to its lenders, but the banks also seem to have conveniently dragged their feet on the matter.
With its deal to acquire Future Retail called off, Reliance is stuck with empty stores, freshly hired personnel, over Rs 3,000 crore in liabilities and shattered dreams.
