In an exclusive interview, Kishore Biyani, Founder & CEO Future Group, who brought modern retail in India, talks to Retailer Media about his plans for the festive season.
Q What is your take on the upcoming festive season?
I think the mood is quite positive now we had not the best of seasons earlier. This festive season has come at the right time in terms of the season change and in terms of fashion business. It’s a beginning of the winter so there is very good chance that the season will go very good. The mood and the optimism on the season which started on Onam in Kerala is quite positive. We are in the beginning of the pooja season which started in the eastern part of India, is also quite positive. There are some feelings which tell us that this time, the festive season will be far better than last year.
Q What is the target you are looking for the season?
We are looking at more than 20-25 per cent growth in sales. Our 50 per cent business comes in the second half of the year. We expect this second half of the year much better than the last year. And this year, most of the retailers are going to achieve double digit growth. And we are also confident that we also will be able to achieve 20-25 per cent of growth.
Q When is Future group launching its mobile wallet?
I will talk about it at the time of launch.
Q For the Future Group, how do you see this fiscal year standing?
We are already clocking more than double digit growth. Now we are looking at crossing 25 per cent sales growth this year.
Q Do you have more competition this festive season?
This time the competition is very low.
Q How overhead cost is treating you at this moment?
It’s a very benign environment right now.
Q You said regulations for doing businesses are ever increasing in India so how do you measure the current environment?
Regulations are ever increasing in India. The numbers of permits one needs to obtain are ever increasing and doing business is getting more difficult in the current scenario of regulations.
Q What is your view on draft retail policy of the Maharashtra Government?
We had discussion on draft retail policy with Maharashtra Govt. in which they had agreed to take more views of the retailers. And I think, the government is very proactive in understanding us.
Q Do you think that the ease of doing business has improved in India?
Ease of doing business will improve in the country. People are becoming receptive but there are more challenges with the structure. The scenario will improve in the next two years.
Q How monsoon deficit will affect the retail business?
Monsoon is not bad this season except in few regions and I don’t think that will create any problem.
Q You are not looking at drought-like situation in India?
The drought-like situation is in very few parts of the country and we are probably not in those regions.