With an absolute entrepreneurship spirit within, Indian retail industry saw an immense transformation in the sentiment of shoppers as well as the sellers last year. 2015, gave us some of the most daring retail entrepreneurs who walked an extra mile in connecting the dots.
Breaking the monotony, some retail CXOs have infused their vision in order to expand their businesses. Retailer Media catches up with these Daring Retail Heroes to know more about their success stories.
Here is the list of 4 Retail CXOs and their daring attempts to watch out for in 2016:
Prashant Gupta, President & CEO, Abof.com
While retailers and even eRetailers for that matter are taking the omni-channel route, Aditya Birla Group launched all about fashion- abof.com to propose a consummate retail experience. Prashant spearheads this eCommece initiative launched by the group.
When asked about his contribution towards making abof ‘the brand’ in eCommerce space by Retailer Media, he said, “My main contribution is on three counts – strategy, deep focus on CX, and assembling the team. In terms of strategy, we had to think very hard as to how we will differentiate from Myntra and Jabong.”
Though it would be too early to comment on Prashant’s idea of ditching the regular deep discounting strategy and rather focusing on high on style quotient, but his confidence and vision surely deserves an appreciation.
Vivek Biyani, Director, Future Group
An entrepreneur with a rock-solid belief and vision to transform the retail hemisphere and serve customers where they feel comfortable, Vivek has been largely driving the Omni-channel strategy for Future Group.
Talking to Retailer Media about the mantra for building an omni-channel plan, he said, “You will need to architect merchandise, supply chain, technology, CRM differently when going Omni-channel. For us, the capability building is crucial and approach for this would be giving customers who visit our stores a better retail experience.”
Betting big on the omni-channel itinerary, Vivek has surely won the omni-channel race with a huge applauds. He is surely the toughest contender to watch out for.
Vineet Gautam, Country Head, Jack & Jones, Vero Moda & ONLY
When other retailers were cutting down their store size, Vineet chose to open bigger stores, which resulted in a massive retail presence of almost 450 stores across 50 cities.
When asked to share some insights on his passion turned profession, Vineet said, “I had a vision to make BESTSELLER India the fastest growing company. Building a strong culture in the organisation, encouraging teams, building strong brands and a go getter attitude were things that I followed.”
Phrases like a people’s manager, a team leader and a visionary aptly describes Vineet and surely under his supervision, the company will reach heights.
Janne Einola, CEO, H&M India
When the Hennes & Mauritz (H&M) opened its first store at Select City Mall, the overriding buzz nearly ended up with a stampede.
Janne Einola, the exuberant CEO, H&M India who started his journey as a Department Manager, H&M back in 1997 and now spearheads India operations spoke to Retailer Media about competition in market, he said, “We don’t look at what competitors are doing. We have great respect for the Indian market. We focus our own actions and we constantly try to learn the markets and their behaviour.”
Despite not being sure about the future of International brands in the country, H&M dared enough to take this huge step. Janne is surely the brand’s front face in the country and his sheer confidence and a humble approach towards competition surely makes him the man of retail. For H&M’s response in the country it’s “so far so good”
With such daring moves experimented in the Indian retail space, be in online-to-offline transformation (and the vice-versa), entrance international retail giants or acquisitions and investments, 2016 will surely be a ‘power-play’ year for the industry. One thing is for sure that out of the box thinking and calculated risks will be the key in every facet of the retail business.