None other than Kishore Biyani,
the undisputed retail king of
India, better understands the retail pulse of India. The
maverick, who kick-started the first Pantaloon retail store in 1997, has been on a
roll since then, and even the recent dreadful global recession could not
inflict much damage on his business. According to The Analyst's top 500 Indian companies ranking for
FY2008-09, based on net sales, Pantaloon Retail (India) Limited has retained the
top slot in the Indian retail industry. For the year 2009, it clocked net sales of
Rs 5,072.66 cr, a hike of 52.40% from a year earlier. And it moved up to
89th rank among the top 500 companies
in India in terms of net sales from last year's
121st. Pantaloon has far outclassed Shoppers' Stop Limited,
the number two player in retail category, which clocked net sales of Rs
1,341.27 cr during the same period. Vishal Retail Limited, with net sales of
Rs 1,323.16 cr, stood third in our ranking of retail players.
Almost all the retailers have been impacted by the recession. And most
of them have emerged wiser from the downturn and are banking on
new business models to thrive in the most attractive retail destination
among emerging markets. Retail is the second largest sector in India after
agriculture and has tremendous growth potential. As per the study
conducted by the Indian Council for Research on International Economic
Relations (ICRIER), the retail sector is expected to contribute 22% to India's GDP
by 2010, which underscores the robust potential of the sector. And
Pantaloons, the largest retailer in India, is leaving no stone unturned to
encash on these opportunities.
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