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Future goes to RIL: Biyani, pioneer of retail, bows to winds of change

Biyani (59), who started his business in 1987 by launching Manz Wear which later adopted the brand name of Pantaloon, has agreed to hand over the control of his retail empire to relatively new entrant

Kishore Biyani, Future retail, big bazaar, bazar
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Many times he has been forced to divest assets to pare mounting debt of his retail empire, a business that is always considered to be cash consuming.

Press Trust of India New Delhi
Kishore Biyani, popularly known as KB among colleagues and considered as the pioneer of modern retail in India taking convenience shopping to the masses, is finally bowing to the winds of change blowing across the sector, giving the control of what he nurtured for over three decades to Reliance Retail.

Biyani (59), who started his business in 1987 by launching Manz Wear which later adopted the brand name of Pantaloon, has agreed to hand over the control of his retail empire to relatively new entrant Reliance Retail, a part of Mukesh Ambani-led Reliance Industries, in a Rs 24,713 crore deal.

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First Published: Aug 30 2020 | 7:38 AM IST

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