Pantaloon India

7/29/2019 Pantaloon India

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STRATEGIC MANAGEMENTRETAILINDUSTRY

Name PNR NO

Zoeb Eisa 12020841054

Lourdes Soares 12020841023

Aswathy Sreekumar 12020841009

Tanvi Shakeel 12020841048

Sunaina Bhatia 12020841055

Nikhil Chitalia 12020841032

Anand Bhate 12020841005

Group 8
http://www.google.co.in/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=sTk1tC1AP-GXLM&tbnid=ja6Ps2DKvhbdwM:&ved=0CAUQjRw&url=http://www.equityhits.com/news/pantaloon-retail-rallied-9-as-rbi-permit-fiis.php&ei=3NQCUYDZCsztrQef8IGoAg&bvm=bv.41524429,d.bmk&psig=AFQjCNGIrE-_HcdlsCZT2ivOsgZfbKYwvw&ust=1359226460541606


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Pantaloon Retail Ltd. is a large Indian retailer and the flagshipcompany of the Future group

Headquartered in Mumbai, it has over 1000 stores across 93 citiesand 60 rural areas in India and employees over 35,000 people

Countrys largest retailer as per market capitalization and revenue

as of 2010

17 million square feet of retail space

INTRODUCTION


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COMPANY VISIONAND MISSION

Vision

Future Group shall deliver Everything, Everywhere, Every time for everyIndian Consumer in the most profitable manner.

Mission

We share the vision and belief that our customers and stakeholders

shall be served only by creating and executing future scenarios in theconsumption space leading to economic development.

We will be the trendsetters in evolving delivery formats, creatingretail realty, making consumption affordable for all customer segments

for classes and for masses.

We shall infuse Indian brands with confidence and renewedambition.

We shall be efficient, cost- conscious and committed to quality inwhatever we do.

We shall ensure that our positive attitude, sincerity, humility andunited determination shall be the driving force to make us successful.


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MANIFESTORewrite Rules. Retain Values.

Our manifesto encourages us to explore unexplored areas and write

new rules to create new opportunities and successes. Our focus instriving for a glorious future gives us strength and the ability to

learn, unlearn and re-learn our ability to evolve.

At Pantaloon Retail we do not wait for the future to unfold itself but

create future scenarios in the consumer space and facilitate

consumption because consumption means socio-economicdevelopment for our customers, employees, shareholders,

associates and partners.

Our customers will not just get what they need, but also get them

where, how and when they need any product or service.

We will not just post satisfactory results, we will write successstories.

We will not just operate efficiently in the Indian economy, we will

evolve it.

We will not just spot trends, we will set trends by marrying our

understanding of the Indian consumer to their needs of tomorrow.


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COREVALUESOFTHECOMPANY

Indianness

confidence inourselves.

Leadershipto be a leader, both inthought and business.

Respect & Humility

to respect everyindividual and be

humble in our conduct.

Introspection

leading to purposefulthinking.

Openness

to be open andreceptive to new ideas,

knowledge andinformation.

Valuing and Nurturing

Relationships

to build long termrelationships.

Simplicity & Positivity:

Simplicity and positivityin our thought,

business and action.

Adaptability

to be flexible andadaptable, to meet

challenges.

Flow

to respect andunderstand the

universal laws ofnature.


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COMPANYTIMELINE

2007 Future Group crosses the $1 billion turnover mark.

2005 group moves beyond retailing starts diversification by acquiring galaxy entrainment, Indus League clothing andPlanet retail.

2004 Central mall was launched

2002 Food Bazaar, the supermarket chain, is launched.

2001Big Bazaar, Indias first hypermarket chain, launched.

1997Pantaloons, Indias family store, launched in Kolkata.

1992 An initial public offer (IPO) was made in the month of May.

1987 Company incorporated as Manz Wear Private Limited, launch of Pantaloons trouser, Indias first formal trouser

brand


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MAIN LINESOF BUSINESS1. Fashion - Pantaloons, Central, aLL, Brand Factory, Blue Sky, Top 10, Fashion

Station, Big Bazaar, Lee Cooper (JV)

2. General Merchandise - Big Bazaar, Shoe Factory, Navras, Electronics Bazaar,

Furniture Bazaar, KB'S FAIR PRICE, Food Rite

3. Electronics - eZone, Electronic Bazzaar, Koryo , Sensei, STAPLES (JV)

4. Home Improvement - Home Town

5. Furniture - Collection i, Furniture Bazaar, Home Bazaar

6. E-tailing (online shopping) - www.futurebazaar.com- www.ezoneonline.in

7. Books and music - Depot

8. Leisure and entertainment - Bowling Co., F123, TGIF (Thank God it's Friday!)

9. Wellness - Star & Sitara, Tulsi

10. Telecom and IT - Gen M, M Bazaar, M-Port, ConvergeM, Future Axiom, T 24,

One Mobile (in alliance with TATA Teleservices)

11. Consumer durables - Koryo, Sensei, IPAQ

12. Service - E Care, H Care, Design & Service

13. Malls - Central (Bangalore, Hyderabad, Pune, Mumbai,Kochi, Vadodara,

Gurgaon, Indore, Ahmedabad, Thane, Surat)

14. Investment and savings - Insurance: ULIP, Pension, Endowment, etc.
http://www.futurebazaar.com/http://www.ezoneonline.in/http://www.ezoneonline.in/http://www.ezoneonline.in/http://www.ezoneonline.in/http://www.ezoneonline.in/http://www.ezoneonline.in/http://www.futurebazaar.com/http://www.futurebazaar.com/http://www.futurebazaar.com/http://www.futurebazaar.com/http://www.futurebazaar.com/


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Revenues


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REVENUES Retail is Indias largest industry. The sector has witnessed an immense growth in the last few

years.

The key factors responsible for the retail boom have been the change in consumer profile and

demographics, increase in the number of international brands available in the Indian market,

economic implications of the government, increasing urbanization, credit availability,

improvement in the infrastructure, increasing investments in technology and real estate building

a world class shopping environment for the consumers.

Kishore Biyani of Pantaloon Retail India Limited (PRIL) laid foundations for organized retailing

India.

Following Pantaloons successful venture many Indian business giants such as Reliance, Bharti,

Birla and others entered into this sector, which are operating all across the major cities of India.

Organized retailing faces both challenges as well as opportunities not only from the traditional

format but also from the Indian mentality and international world in generating revenues.


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Consolidated Revenues of Pantaloons Retail

0

2000

4000

6000

8000

10000

12000

14000

2008 2009 2010 2011 2012


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SALES & EPS TRENDThe profitability of the company is expected to improve, going forward, due to higher share of thelifestyle segment and private labels, cost reduction measures, economies of scale and implementationof better technology systems.

The operating profit margin and net profit margin is expected to increase to 11% and 3%in FY12Efrom 10.5% and 2.2% in FY09, respectively.


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IMPRESSIVESALESGROWTH The total revenue of the company has shown impressive CAGR of 50.3%over FY06-FY09 to reach Rs 6341.7 crore in FY09

from Rs 1052.8 crore inFY05.

This is on account of aggressive expansion in space from 2.03 million sq. ft. in FY05 to 9.65 million sq. ft. in FY09, 47.7%CAGR.

This growth was driven by aggressive expansion of the Big Bazaar format.

We expect the total revenue of the company to double to reach Rs 12473.6 crore in FY12E from Rs 6341.7 crore in FY09

backed by 22.6% CAGR in retail space from9.65 million sq. ft. in FY09 to 17.8 million sq. ft. in FY12E.

We also expect an improvement of 1.9% CAGR in revenue on account of higher share of lifestyle segment.

We believe Big Bazaar will maintain its dominance in total revenue even post FY12E due to the high share of space in total

space within the company.


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Sales turnover and net profit of Pantaloons Retail & its

competitors

Name Sales

Turnover

Net Profit

Pantaloons' Ret 5,702.19 293.65

Trent 821.79 47.27

Shoppers Stop 1,930.04 64.26

Kewal Kiran 301.9 52.14

Prozone Capital 7.9 -2.03

Provogue 565.39 33.41

Brandhouse 783.48 8.5

REI Six Ten 614.05 0.32

Cantabil Retail 164.54 -25.47

Koutons Retail 164.65 -193.81


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Growth


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Pantaloons success and continuous growth in the

Indian organized Retail market can be attributed toa number of factors, some of which have beenderived from the strategies of large retailers in the

west, while others are completely tailor-made forthe Indian market.


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REASONSFORTHEGROWTHOF PANTALOON

The Retail Experiment Multiple Formats, MultipleBrands

Versatile Retailing

Strengthening Back End Operations: Supply-Chain


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GROWTH (INTERMSOF SALES)

2009-2010 22%

2010-2011 27%

2011-2012 32% (Q5)


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FACTORS DRIVING GROWTH

Falling real estate prices

E-tailing

Increase in disposable income

Customer aspiration Increase in expenditure forluxury items

Low share of organized retailing

Growing liberalization of the FDI policy in the past

decade


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GROWTH STRATEGY

Pantaloon adopts following strategies in order toconsolidate its position as one of the leading operators inthe value retail segment.

1. Increasing penetration in the country by leveragingPantaloon supply chain, distribution and logistics

network.2. Emphasis on backward integration.

3. Procurement from low-cost production centres outsideIndia.

4. Increasing customer satisfaction and Pantaloon base ofloyal customers.

5. Continue to upgrade information technology systemsand processes.


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Business Model


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BUSINESS MODEL FOR PANTALOONS

Supplier: Suppliers are involved in carrying out thefollowing functions:

Vendor management Cost and deal management

Purchase order management

Collaborative management


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Purchase process:

Supply chain visibility

Warehouse management Transportation management


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Store/shelf management:

Store planning

Inventory management Replenishment management

Fresh item management

Item publishing

Order management


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Sales/point of sales:

Point-of-sales management

E-payment Content management

Online retailing

Kiosks

Self checkout


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Customer:

Customer loyalty management

Voucher gift management Customer ordering management


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Track and analyse:

General ledger and account management

Sales audit and invoice matching Workforce management

Payroll processing

Sales analysis and loss prevention


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Planning:

Sales planning

Pricing management Promotion management

Customer profiling

Assortment management

Category management


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Central hub:

Process improvement

Six sigma implementation Radio Frequency Identification (RFID)

implementation

Enterprise security


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Market Capitalization


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WHATIS MARKETCAPITALIZATION?

Market capitalization (or market cap) is the total value

of the issued shares of a publicly traded company; it is

equal to the share price times the number of shares

outstanding.

As outstanding stock is bought and sold in public

markets, capitalization could be used as a proxy for the

public opinion of a company's net worth and is a

determining factor in some forms of stock valuation.Preferred shares are included in the calculation.


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CATEGORIZATION

Traditionally, companies were divided into large-cap,

mid-cap, and small-cap. The terms mega-cap and micro-

cap have also since come into common use, and nano-

cap is sometimes heard.

Different numbers are used by different indexes;[there is

no official definition of, or full consensus agreement

about, the exact cutoff values. The cutoffs may bedefined as percentiles rather than in nominal dollars.


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CATEGORIES

Mega-cap : Over $200 billion

Large-cap : Over $10 billion

Mid-cap : $2 billion$10 billion

Small-cap : $250 million$2 billion Micro-cap : Below $250 million

Nano-cap : Below $50 million


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PANTALOONS & MARKETCAPITALIZATION

As of 2010, it was the country's largest listed retailer by

market capitalization and revenue.


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LASTYEARSSHAREPRICES

MARKET CAP

(Rs Cr) 5,694.62


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ASON JANUARY 24, 2013


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HISTORIC PRICESOF PANTALOON RETAIL


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SIMPLE MOVING AVERAGES


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PRICE QUOTE


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PROFIT& LOSS


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COMPETITORS (ASON 24/JAN/2013)


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Industry Analysis


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OVERVIEW The Indian retail market is currently estimated at around $450 billion

The sector is the second largest employer after agriculture, employing more than35 million people with wholesale trade generating an additional employment to anadditional 5.5 million people

The sector has evolved dramatically from traditional village fairs, street hawkers to

resplendent malls and plush outlets, growing from strength to strength

The Indian retail market has witnessed consistent growth over the last few years,maintaining its share of around 30% of the GDP at current prices

According to the Indian Council for Research on International Economic

Relations (ICRIER), India is the seventh-largest retail market in the world

India's retail market is expected to grow at 7% over the next 10 years

EVOLUTION OF RETAIL IN INDIA


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EVOLUTIONOF RETAILIN INDIA

Initiation

Conceptualization

Expansion

Consolidation

Pre 1990s

2010onwards

2005-10

1990-05

Manufacturersopened their ownoutlets

Pure play retailersrealised thepotential of the

marketMost of them inapparel segment

Substantialinvestmentcommitments bylarge IndiancorporateEntry in foodand general

merchandisecategoryPan-Indiaexpansion to top100 citiesRepositioning

by existingplayers

Large scaleconsolidationMovement to

smaller cities andrural areasMore than 56players withrevenues morethan USD700

millionLarge scale entryof internationalbrandsFDI in single-brandretail up to 100 percent from 51 per

centPlans afoot to


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RETAIL INDUSTRY : KEY FACTS

Market Size : USD 450 billion

India is the 5th largest retail market in the world

Data as of Dec


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GROWTHRATE

The retail sector in Indiais emerging as one of thelargest sectors in theeconomy

By 2012, total marketsize is likely to touchUSD450 billion, thereby

marking a CAGR of 5.9per cent since 1998


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ORGANISED RETAIL

Organised Retail Penetration (ORP) in India is low (5 per cent) compared to othercountries such as the US (85 per cent)

This indicates strong growth potential for organised retail in India

Indian retail market is in its nascent stage; unorganised players control the marketwith 95 per cent market share during 2011-12

There are over 12 million mom-and-pop stores

Organised retail in India is expected to be 9 per cent of total retail market by 2015and 20 per cent by 2020


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FOODAND GROCERIES

Food and groceries account for the largest share in revenues inIndia

In 2011, Food and Grocery accounted for nearly 59.5 per cent oftotal revenues in the retail sector in India; Clothing and Fashionfollowed with a share of 9.9 per cent

In 2011, 48 per cent of total household income in India was spenton food and groceries

Demand for western outfits and readymade garments has beengrowing at 40-45 percent annually; apparel penetration isexpected to increase to 30-35 per cent by 2015


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E C G O C OSS O C C GO S


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EXPECTEDGROWTHACROSSPRODUCTCATEGORIESANDFORMATS

Indias Grocery retailsegment is the mostattractive in the world

Hypermarkets would bethe largest retailsegment, accounting for21 per cent of totalretail space by 201314


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Major contributor to GDP High Growth Rate Indian consumers have high disposable incomes, which translates

into high consumption levelStrength

Highly unorganized Shortage of talented professionals Low productivity compared to international players

Weakness

Increasing awareness of consumers about products and services Innovation for new product development Retail sector in rural India is almost untouched, presenting

tremendous opportunity Global retail giants see India as a key market

Opportunity

ThreatRigid government policies and regulations restrict the entry of newplayers Price competition among retailers puts downward pressure onmargins

Economic slowdown is having an adverse effect on consumerspending

R F I


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RETAIL FORMATIN INDIA

Mono/exclusive

branded retailshops

Multi-branded

retail shops

Convergence

retail outlets

e-Trailers

Exclusive

showrooms either

owned or

franchised out by a

manufacturer

Focus on particular

product categories

and carry most of

the brands available

Display most of

convergence as

well as

consumer/electroni

c products,

includingcommunication and

IT groupIt is an online

shopping facility for

buying and selling

products and

services; the facility

is widely used for

electronics, health

Complete range

available for a given

brand, certifiedproduct quality

Customers have

more choices as

many brands are on

display

One-stop shop for

customers; many

product lines of

different brands on

display

Highly convenient

as it provides 24X7

access, saves time,

and ensures secure

transaction


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TOP 10 PLAYERS

Company

Name

AnnualRevenue

(Crores INR)

Market

Share

Company

Name

Market Cap

(Crores INR)

Pantaloon Ret4325 41% Pantaloon Ret 470140%

Shoppers Stop1929 18% Shoppers Stop3022 26%

Koutons Retail1204 11% Trent 246321%

Brandhouse 737 7% Kewal Kiran 875 7%REI Six Ten 717 7% Provogue 284

2%

Trent 686 6% REI Six Ten 249 2%Provogue 562 5% Brandhouse 72 1%Kewal Kiran 234 2% Koutons Retail63 1%Cantabil Retail186 2% Arunjyoti Enter57 0%

Arunjyoti Enter79 1% Cantabil Retail26 0%

TOTAL 10659 TOTAL 11812

COMPETITIVE LANDSCAPE IN THE INDIAN RETAIL


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COMPETITIVELANDSCAPEINTHE INDIAN RETAILSECTOR

Retail

Departmental Stores

Hypermarkets

Supermarkets/Convenien

ce Stores

SpecialtyStores

Cash &Carry Store

Pantaloon has65 stores

Trent operates

59 stores

Shoppers Stop

has 51 stores

Reliance Retail

has launchedTrends in thisformat

Pantaloon Retailis the leader inthis format with160 Big Bazaarstores

HyperCITY,Trent (StarBazaar),Spencers

(Spencer Hyper),Aditya Birla Retail(More.) and

Reliance areother la ers

Aditya BirlaRetail (More.,640 stores)

Spencers

(Daily, 220stores)

Reliance Fresh

(453 stores)

REI 6Ten (350

stores) are the

major players inthis format

Titan Industries is alarge player, with320 World of Titan,130 Tanishq and 177Titan Eye+ shops

Vijay Sales, Croma,E-Zone and Viveksare into consumerelectronics

Landmark,

Crossword andOdyssey focus onbooks, gifts and

entertainment

Metro startedthe cash-and-carry model inIndia; thecompanyoperates fivestores across

Mumbai,Kolkata,Hyderabad andBangalore

Bharti Walmartstarted cash-

and-carryoutlets, with the

KEY STRATEGIES BY INDIAN RETAILERS


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KEY STRATEGIESBY INDIAN RETAILERS


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KEY POINTERS

Supply: Players are now moving to Tier II and Tier IIIcities to increase penetration and explore untappedmarkets as Tier I cities have been explored enough andhave reached a saturation level.

Demand: Healthy economic growth, changingdemographic profile, increasing disposable incomes,changing consumer tastes and preferences are some of

the key factors that are driving and will continue to drivegrowth in the organised retail market in India.

Barriers to entry: Reforms by India in opening up its


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Barriers to entry: Reforms by India in opening up itseconomy have greatly improved trade prospects, butmajor barriers still exist such as regulatory issues, supply

chain complexities, inefficient infrastructure, andautomatic approval not being allowed for foreigninvestment in retail. But, some of these are set to changewith FDI in multi-brand retail set for approval.

Bargaining power of suppliers: The bargaining powerof suppliers varies depending upon the target segment,the format followed, and products on offer. Theunorganized sector has a dominant position, still

contributing 95% of the total retail market. There are fewplayers who have a slight edge over others on account ofbeing established players and enjoying brand distinction.Since it is a capital intensive industry, access to capital

also plays an important part for expansion in the space.


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Bargaining power of customers : High due to wideavailability of choice. With FDI coming in, this will

increase further.

Competition: High Competition is characterized by manyfactors, including assortment, products, price, quality,

service, location, reputation, credit and availability ofretail space etc. New entrants (business houses andinternational players) are expected to further intensify thecompetition and so would the foreign players' entry.


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DEMAND SIDE GROWTH DRIVERS

Rise in Incomes and Purchasing Power

Emergence of the Consumer Class

Change in Consumer Mindsets

Indian Demography(Young and Middle Aged)


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Easy Consumer Credit

Attitude to "Splurge rather than Save

A perpetual hunger towards possessing quality/branded

merchandise

Influence of the West on Indian Consumers


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SUPPLY SIDE GROWTH DRIVERS

Govt. Support towards FDI

FII Flows

Surplus Supply of Land across Indian Cities

Increased Profit Margins Short Supply Chain

G


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GOVERNMENTINITIATIVESANDPOLICIES 100% FDI is permitted under the automatic route for trading companies for cash

& carry trading and wholesale trading

The Cabinet also gave the nod for raising the FDI limit in single-brand retailventures to 100%

Reduction in incidence of the excise duty on branded apparels from 4.5% to3.6% is likely to boost the demand for branded apparels, and benefit companies

like Provogue and Raymonds

The Government is planning to remove the old tax systems to simplify the taxcalculation and avoid double taxation in Indian retail. New Goods and ServiceTax (GST) will simplify the tax structure

The government is in talks to allow foreign direct investment up to 51% in multi-brand retailing,US Secretary of State Hillary Clinton on her recent visit to India,pitched for the opening up of the Indian retail market for foreign directinvestment (FDI).

The FDI in retail would allow US multi-brand retail chains like Wal-Mart to openstores in India


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SEGMENTAL ANALYSIS

The structure of Indian retail is developing rapidly with shoppingmalls becoming increasingly common in the large cities however the

traditional formats like hawkers, grocers etc. continue to co-exist

with the modern formats of retailing

MAJOR SEGMENT ANALYSIS- FOODAND


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GROCERY Business Monitor International (BMI) forecast that sales

through Mass Grocery Retail outlets to reach to USD 27.67billion by 2015

According to industry estimates, lack of supply chaininfrastructure results in 40% loss of farm produce;investment in back-end infrastructure should help reducethis

Sourcing of processed food from SMEs could result in

higher margins

Political support for FDI in food and grocery may facechallenges and many states may not allow FDI or else allowwith more restriction

Hypermarkets and supermarkets are the best suited retailstructure for this segment


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MAJOR SEGMENT ANALYSIS- APPAREL Readymade and western outfits sales are growing at 40-

45% annually

Opening of multi-brand apparel retail for FDI is notexpected to face major political deliberations

For apparel retail, investment in back-end infrastructure liesin creation of warehouses

Manufacturing facilities (for private label brands) andlogistics is most likely to be outsourced

International retailers could have private label brandssourced from the SME segment

Departmental stores is the best suited retail structure for

this segment

MAJOR SEGMENT ANALYSIS- FURNITUREAND


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FURNISHINGS

This category faces stiff competition from small timetraditional retailers as well as individual carpenters (Indiahighly customization focused)

For furniture retail, options for investment in back-endinfrastructure lies in creation of manufacturingfacilities/warehouses

Some of the furniture products could be sourced from theSME segment

FDI in furniture retail is not expected to face major politicaldeliberations

Specialty retail outlet is best suited structure for thissegment


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Penetration level of modern retail is just 4% andthere is a huge untapped potential in this segment

Private label brands in some of the productcategories can be sourced from the SME segment

From Dhoni announcing 200 gyms to staggeringsales of Shehnaz Hussain/Biotique type local brandsto foreign brands like MAC, Clinique etc.,thissegment is all set to explode for the health & beautyconscious Indian youth

MAJOR SEGMENT ANALYSIS- BEAUTYAND WELLNESS


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GROWTHVALUEPROPOSITION

EMERGING RETAIL FORMATS - LUXURY


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RETAILING A decade ago luxury retail in India was onlymeant for the consumption of elites. Thespending habits of a consumer have redefinedthe meaning of luxury - luxurious goods have

become necessities, not just for the rich but alsofor the middle class population. For a commonbuyer, the outlook for luxury has changed from anaspirer to an acquirer

The Indian luxury market stood at around USD5.8 billion and expected to grow to make Indiathe twelfth largest luxury retail market in the

world by 2015

The Indian luxury Industry is growing at a rapidpace with a CAGR ~20% and shall grow tonearly double of its current size over the next 5years

An increase in the young workingpopulation especially women and


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population especially women andgrowing opportunities in the servicesector

Growing incomes coupled with optimismabout the future

Easier consumer credit & loans

Increase in credit card spending

Real estate development in the country

On-going liberalization of retail sector

O th l t f I di l i d t h it d i ifi t


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Over the last few years, Indias luxury industry has witnessed significanttransformation and advancement. A short visit to Delhis Emporio mall or MumbaiPalladiums will be proof enough for this as you see people queuing up to goinside in the middle of an afternoon and thousands of people walking out withred, green, yellow bags with Gucci, Ferragamo, Tods, Harry Winston, Hermes all

over them. India used to be a production outsourcing destination for a long time, but now

due to a steadily growing economy and globalized business environment, Indiahas rapidly transformed into a large market for Luxury goods

In view of the growing importance of the country in the global luxury industry,Mint, Indias leading business daily every year conducts a conference whichbrings together the stakeholders to a common platform

The fol lowing are the views o f the Indu stry Experts f rom the recent IndianLux ury co nference organized by Mint :


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KEY CHALLENGES


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Pantaloon India

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