organised retails

“Comparative Study on Profitability Drivers of Indian Retail Industry and their
formats” and “challenges to unorganized retails in the current scenario”.

Submitted to: Mrs. Ambika Rathi

1

INDEX
CONTENTS PAGE NO
Acknowledgement 4

Preface 5

Executive Summary 6

Today’s Retail in India 7-8

Key Points of Indian Organised Retail Industry 9

Formats in Indian Organized Retail Sector 10

Top Major Retail Players in India 11

Objectives of the Study 12

PHASE-I

Scope of the Study 14

Research Methodology 15 - 16

Limitations of the Study 17

Research problem and its relevance 18

Name of the Stores 19

Vishal Mega Mart 20 - 30

Big Bazaar 31 - 40

Lifestyle 41 - 48

Comparative analysis of the Stores 49 - 56

2

PHASE-II

Great India Place 58 - 61

3

ACKNOWLEDGEMENT

First of all we would like to thank Mrs. Ambika Rathi (Faculty Member)
for giving us the opportunity to do the project on comparative study on
“Indian organised Retail Industry and their formats” and “threats to
unorganized retails in the current scenario in India.” Her extended views
on the Indian Retail Industry help us with assistance, support and
council without, which this project would not have been materialized.

We would also like to express our special thanks to all the Staffs of the
Vishal Mega Mart, Big Bazaar, Life Style and Pantaloon Retails and also
the various owners of Kirana Stores for their excellent support and co-
ordination without which this study could not be fulfilled.

Thanks

GROUP-8
H-SECTION.
Asia Pacific Institute of Management Studies.

4

PREFACE

We are lucky that, we got the opportunity for making the project report
on “Comparative Study on Profitability Drivers of Indian Retail Industry
and their formats” and “challenges to unorganized retails in the current
scenario”. For this study we visited the Malls, Hyper Markets and
Departmental Stores and in New Delhi and Noida and talk to various
unorganized retailers (Kirana stores) to study the problems defined. This
report is written account of what we learnt and experienced during the
survey. We wish, those going through it will not only find it readable but
also get as useful Information. The main limitation of our experience
was that as the above said organised retails industry is reserved with
corporate formalities, we had faced a little bit difficulties to fill the
questionnaire completely.

5

Executive Summary

Retailing is emerging as a sunrise industry in India and its presently the
largest employer after agriculture. In the year 2004, the size of Indian
organized retail industry was Rs 28,000 Crores, which was only 3% of
the total retailing market.

The sunrise of the organised retailers in India creates a major turn in
the retail industry. Top major organised retail players are increasing
their market share day by day. Their main focus is based on FMCG and
consumer durables. With modernization, Indian culture is aping the
western dressing sense and lifestyle and these techniques is promoting
by the Retailers and by this they are generating a remarkable revenue
from the Indian consumers.

6

Today’s Retail in India
Comprised of organized and traditional retail formats, Indian Retail
market is estimated to be worth US$ 511 billion, and is poised to grow
to US$ 833 billion by 2013. The organised retail that currently accounts
for less than 5 per cent of the total retail market is expected to register
a compound annual growth rate (CAGR) of 40 per cent and swell to US$
107 billion by 2013.

A report by global consultancy firm, AT Kearney said quot;The consumer
spending in India has increased by an impressive 75 per cent in the last
four years and will quadruple in the next 20 years.quot; Moreover, India
recently topped the Nielsen Global Consumer Confidence study,
conducted by Nielsen, a market research company. The biannual report
revealed that Indians are quot;the most optimistic lot globally who think that
their country will be out of the economic recession in the next twelve
months.quot;

However the size of Organised Retail in India will exceed US$22bn mark
from current level of about US$4bn with its space requirement touching
over 220mn sq. ft., by 2010, according to The Associated Chambers of
Commerce and Industry of India (ASSOCHAM). In a Paper brought out
by ASSOCHAM on `Retail Scenario in India and Its Related Issues’, it
has been stated that approx. 40mn sq. ft. is currently generating a
business of about US$4bn in organized retail.

India’s vast middle-class and its almost untapped retail industry are key
attractions for global retail giants wanting to enter newer markets and
India provides for the ideal locations. Since, Delhi and its suburbs have
so far seen the growth of 100 bigger and smaller malls, roughly 600
new malls are coming up in other metropolis and large townships in
which less than 35% of retail business is going to be transacted.

It is seen that over 1000 malls are in the pipelines for smaller townships
in which the retail sector is projected to grow at over 60% because of
ample availability of land and increased purchasing power of the folks
living in those areas because of increased economic activities. Naturally,
the large players will prefer to go there and put up their shops by
sourcing their supplies from the places convenient to them.

7

Some of the key areas in which retail boom will prevail in towns beyond
metros and even large cities will include food items, FMCG products,
grocery, sportswear, outerwear, tailored clothing, eyewear, watches,
footwear and accessories and the like. The retail business that will pre-
dominantly stay with malls put up in metros and large cities will include
apparel, pharmaceuticals, luxury goods and consumer durables.

Changes should be brought about in Agricultural Produce Marketing
Committee (APMC) Act (a key contributor to the large number of
intermediaries) such as the introduction of contract farming and allowing
direct procurement from farmers by retail owners so that a direct chain
is established between the user and farmers for their equal benefits. It
also highlights, pointing out that even in the case of non-agricultural
products such as apparel, FMCG and general merchandise, the situation
is far from ideal.

The key cause for inefficiency is the poor integration between the
retailer and supplier. None of the retailers, in view of ASSOCHAM has so
far an automated system for information exchange with their suppliers.
In developed countries, retailers practice Vendor Management Inventory
(VMI) systems, where the supplier has access to the point of sales data
of the retailer and plans automatic replenishments responding to the
stocks available at the retailer.

8

Key Points of Indian Organised Retail
Industry
1. Potential to be the third largest economy in terms of GDP in next few
years .

2. It ranks high amongst the top 10 FDI destinations of the world .

3. Fastest growing tourist market in Asia.

4. World bank states, India to be worlds second largest economy after
China by the year 2050.

5. Stable and investor friendly Central Government at the helm of affairs.

6. Introduction of Value Added Tax or VAT and tax reforms.

7. High degree of professionalism and corporate ethics.

8. Excellent Investment opportunities in Indian retail sector and in allied
sectors; sure and high returns on investments.

9. To invest US $130 billion for the development of infrastructure, by
year 2010.

10. Bullish stock markets.

11. Hordes of foreign investors are thronging in to invest in Indian retail
markets.

12. Highly educated English speaking young workforce.

13. Vibrant and multi cultured cities.

14. Huge opportunity exists, especially in semi-rural and rural areas.

15. Till date the second largest employer after agriculture sector, for the
huge semi-skilled Indian population.

16. Offers highest shop density in the whole world.

17. Having almost 1,20,000 shops, across the length and breadth of the
country.

9

Formats in Indian Organized Retail Sector

1. Supermarkets: A supermarket, also called a grocery store is a self-
service store offering a wide variety of food and household merchandise,
organized into departments. It is larger in size and has a wider selection
than a traditional grocery store and it is smaller than a hypermarket or
superstore.

2. Hypermarkets: A hypermarket is a superstore which combines a
supermarket and a department store. The result is a very large retail
facility which carries an enormous range of products under one roof,
including full lines of groceries and general merchandise. In theory,
hypermarkets allow customers to satisfy all their routine weekly
shopping needs in one trip.

3. Department Stores: A department store is a retail establishment
which specializes in satisfying a wide range of the consumer's personal
and residential durable goods product needs; and at the same time
offering the consumer a choice multiple merchandise lines, at variable
price points, in all product categories. Department stores usually sell
products including apparel, furniture, appliances, electronics, and
additionally select other lines of products such as paint, hardware,
toiletries, cosmetics, photographic equipment, jewelery, toys, and
sporting goods. Certain department stores are further classified as
discount department stores. Discount department stores commonly
have central customer checkout areas, generally in the front area of the
store. Department stores are usually part of a retail chain of many
stores situated around a country or several countries.

4. Shopping malls: A shopping mall or shopping centre is a building or
set of buildings which contain retail units, with interconnecting walkways
enabling visitors to easily walk from unit to unit.

5. Specialty Chains: A Specialty Chains is numbers stores which are
specialized in a specific range of merchandise and related items. Most
stores have an extensive width and depth of stock in the item that they
specify in and provide high levels of service and expertise. They differ
from department stores and supermarkets which carry a wide range of
merchandise.

10

TOP MAJOR RETAIL PLAYERS

Total Retail
No.of
Retailer Existing formats Brand Names Space
Stores
(‘000 sq ft)

Department store Pantaloon 13 1,948
Pantaloon
Retail Indian Hypermarket Big Bazaar 450 5000
Ltd
Seamless Malls Central 12 1200

Hyper markets Spencer’s 400 6000

RPG Retail Music Stores Music world 225 230

books Stores Books and Beyonds

Department stores Shopper’s Stop 20 1000
Shopper’s Books & Music
Crosswords 33 N/A
Stop Ltd. Stores
Home furnishing Home Stop N/A N/A

Landmark
Group (Based Department Stores Lifestyle 8 370
in Dubai)

Department Stores West side 19 350
Trent India
Hypermarkets Star India Bazaar 1 N/A
Ltd
Books & Music
Land Mark 4 N/A
Stores
Vishal Group Hyper markets Vishal Mega Mart 183 13,45

11

OBJECTIVES OF THE STUDY

Phase-I

This project is based on the comparative study of Indian Retail Industry
on the basis of three parameters:

(a) Customer Flows.
(b)Revenue per Customer.
(c) Stock of the Store.

Objective:
Know the customer flow and revenue generated by the stock from the
each department in the organised retail sector within a closer view.

PHASE-II

Determine various shops and classify them into the Retail formats.

Objective:
Know the retail formats and what are the difference between those
categories.

PHASE-III
Analyze the threats and challenges to unorganized retailers in the
current scenario of competitive market.

Objective:
Understand the sector of unorganized retails, find out the challenges
faced by them and determine what are the measures taken by these
retailers to survive in this current scenario.

12

SCOPE OF THE STUDY

The scope of my study restricts itself to analyze the organised retailer’s
profitability drivers on the basis of Garments, Gifts, Cards and Music
Department where as in the recent trend its seen that the key players in
this Industry are more emphasizing on the Garments, Personal
Grooming, Home furnishings, Life style and Footwear Departments in
their Stores.

14

RESEARCH METHODOLOGY

This chapter describes the methodology of the study. This project is
based on information collected from primary sources. After the detailed
study, an attempt has been made to present comprehensive analysis of
four major organised retailers. The data had been used to cover various
aspects like inter-departmental customer flows, revenue per customer
and value of the stock in the various departments. In collecting requisite
data and information regarding the topic selected, we went to the Vishal
Mega Mart, Life Style, and Big Bazaar of New Delhi and Noida and
collected the data.

Research design:
The study is based on descriptive research design because the data
were collected to reveal accurate descriptions of variables related to the
decisions being faced, without demonstrating that some relationship
exists between variables. For the purpose of present study a related
sample of stores were selected on the basis of convenience.

Sample Size and Design:
A sample of 4 stores was taken on the basis of convenience.

Research Period:
Research work is only carried for 1 week.

15

Research Instrument:
This work is carried out through self-administered questionnaires. The
questions included were close ended with Ordinal-polytomous response
scale.

Data Collection:
The data, which is collected for the purpose of study, is divided into 2
bases:

 Primary Source: The primary data comprises information
survey of “Comparative Study on Profitability Drivers of
India’s Retail Industry”. The data has been collected directly
from respondent with the help of structured questionnaires.

 Secondary Source: The secondary data was collected from
internet and references from Library and various journals on retail
industry.

Data Analysis:
The data is analyzed on the basis of suitable tables by using
mathematical techniques. The technique that we have used is bar
graphs, pie charts, with MS-EXCEL and SPSS.

16

LIMITATIONS OF THE STUDY

In attempt to make this project authentic and reliable, every possible
aspect of the topic was kept in mind. Nevertheless, despite of fact
constraints were at play during the formulation of this project. The main
limitations are as follows:

 Due to limitation of time only few retail stores are taken into
consideration of this study. So the sample of retailers was not
enough to generalize the findings of the study.

 The main source of data for the study was primary data with the
help of self-administered questionnaires. Hence, the chances of
unbiased information are less.

 Concern person from the organised retail stores were hesitant to
disclose the true facts as the data related to strategic secrets.

 The chance of biased response can’t be eliminated though all
necessary steps were taken to avoid the same.

17

RESEARCH PROBLEM AND ITS RELEVANCE

RESEARCH PROBLEM:
Determine the profitability drivers on the basis of:

(a) Customer flows.
(b)Revenue per Customer.
Stocks value of the store.
(c)

RELEVANCE OF THE RESEARCH:
Understand the value of Indian organised retail Industry on the basis of
how customer flow generates the revenue related to its value of stock
and analyze the ways to improve each of three dimensions.

18

Name of the Stores

The study is being conducted on:

(i) Vishal Mega Mart, Sarita Vihar.

(ii) Big Bazaar, Noida.

(iii) Lifestyle International, Noida.

Various unorganized retailers in Delhi.
(iv)

(v) The Great India Place, Noida.

19

VISHAL MEGA MART

20

What started as a humble one store enterprise in 1986 in Kolkata is
today a conglomerate encompassing 183 showrooms in 110 cities / 24
states. India’s first hyper-market has also been opened for the Indian
consumer by Vishal. Situated in the national capital Delhi this store
boasts of the singe largest collection of goods and commodities sold
under one roof in India.

The group’s philosophy is integration and towards this end has initiated
backward integration in the field of high fashion by setting up a state of
the art manufacturing facility to support its retail endeavors.

Vishal is one of fastest growing retailing groups in India. Its outlets
cater to almost all price ranges. The showrooms have over 70,000
products range which fulfills all your household needs, and can be
catered to under one roof. It is covering about 29, 90, 146 sq. ft. in 24
states across India. Each store gives you international quality goods and
prices hard to match. The cost benefits that is derived from the large
central purchase of goods and services is passed on to the consumer.

There are three classes of consumers the lower class is restricted only to
unorganized retail, upper class consumers are limited and scattered.
According to the Vishal Retailing Strategy, they are targeting middle
class as it is the largest consumer base in India and can be sold off then
in large volumes because with the increasing purchasing power the
middle class is shifting towards organized retail.

The group had a turnover of Rs. 1463.12 million for fiscal 2005, under
the dynamic leadership of Mr.Ram Chandra Agarwal . The group had a
turnover of Rs 2884.43 million for fiscal 2006 and Rs. 6026.53 million
for fiscal 2007.

21

ANALYSIS OF THE STUDY

Types of Customer:

There are three types of consumer in the Indian retail market. Vishal
mega mart is a firm believer of that the Middle class and upper middle
class are the potential customer in their product categories.

Here we are analyzing which income level of customers are generally
tend to purchase the products department wise:

PERCENTAGE OF TYPES OF CUSTOMER DEPARTMENT WISE
GARMENT GIFTS MUSIC CARDS
TYPES OF CUSTOMER SECTION SECTION SECTION SECTION
HIGH GRADE INCOME LEVEL 10 40 60 0
MEDIUM GRADE INCOME LEVEL 60 50 30 50
AVERAGE GDARE INCOME LEVEL 30 10 10 50

TYPES OF CUSTOMER

100%

80%

60% AVERAGE GDARE INCOME LEVEL
MEDIUM GRADE INCOME LEVEL
40%
HIGH GRADE INCOME LEVEL
20%

0%
SECTION SECTION SECTION SECTION

From the above details its found that the customer flows in the garment
section is relatively high rather than the other sections. The focus
customer group is basically medium level income group of customers.

Flow of customers in different departments:

22

Here we have analyzed the flow of customers per day basis. For this
reason we have studied customer flows on an average of high customer
flow days.

Inter-Department Customer Flow
DEPARTMENT Number of Customer
GARMENTS DEPARTMENT 900
GIFTS DEPARTMENT 250
CARDS DEPARTMENT 100
MUSIC DEPARTMENT 300

Inter-department Customer Flow
300

MUSIC DEPARTMENT
100

CARDS DEPARTMENT
250

GIFTS DEPARTMENT

GARMENTS
900

DEPARTMENT

0 100 200 300 400 500 600 700 800 900 1000

Number of Customer

From the above figures its executed that flow of customer in garment
departments is relatively higher than the others departments. To
determine the above study we have considered the customers who are
spending their money on purchase of products of the above said
departments. Its revealed at the time of study that they have 10 cash
counters and they are making bills of more than 280 bills per day per
counter on the above said days.

Value of Stock in the different departments:

23

We have chosen 4 departments from Vishal Mega Mart and estimated
the valuation of average stock with the assumption details provided by
the branch operation stuffs.

VALUE OF THE STOCK
DEPARTMENT (Rs)

Value of the stock in the Garments Departments:

Value of Stock
525000

Garment Deapartment
others department

10340000

The garment section is divided into Men, women and kids section. The
value of the stock in the garments department is relatively much higher
than the others departments. The value of stock in winter season jumps
to 18 to 20 crore and its 3times higher than others season as normally
they are maintaining a stock of 6 crore in the others time.

Value of the Stock in Others Department

300000

250000
Value of the stock of the others departments:
200000

150000

100000

24
50000

0
GIFTS DEPARTMENT CARDS DEPARTMENT MUSIC DEPARTMENT

The value of the stock of the others departments are relatively lower
than garments departments.
The stock maintained in the gifts section, basically maintained for the
high and medium level income customers.
In the cards department the stock increases at the time of Christmas an
New year eve as it’s a seasonal business according to the Vishal Mega
Mart.
Music department is consisting of Music, movie and game cd & dvd’s. Its
found that the stock of game cd & dvd’s is higher than the others.

Revenue generated by the different departments:

To find out the profitability drivers we have compared the revenue
generated by different departments on the basis of 2004-05 to 2008-09.

25

For this study we have considered average revenue of a high customer
flow day by the all income level customers.

DEPARTMENT 2004-05 2008-09
GARMENTS DEPARTMENT 50000 180000
GIFTS DEPARTMENT 5000 10000
CARDS DEPARTMENT 2000 1800
MUSIC DEPARTMENT 1800 5000
TOTAL 58800 196800

REVENUE PER DEPARTMENT

196800
180000
200000

150000

100000 2004-05
58800 2008-09
50000
50000
500010000 1800 5000
2000 1800
0
GARMENTS GIFTS CARDS MUSIC TOTAL
DEPARTMENT DEPARTMENT DEPARTMENT DEPARTMENT

From the above study its revealed that at the time of inception of the
organised retail in India in the year of 2004-05, only the high grade and
upper medium grade income level customers were tends to go to the
retails. So the maximum portion of revenues generated from these two
groups only.

In the case of garments, gifts and music departments as the stock is
increased, the revenue is also increased with the market demand study
of the year of 2004-05 to
2008-09. and also its seen that the product category in the gifts and
music department is relatively changing with the increasing demand of
new innovated products.

A measurable changes found in the cards department is that the
revenues as well as the stock is decreasing day by day because of

26

changing customer preferences towards information technology enabled
services like SMS, MMS & E-mails.

FACTS AND FINDINGS

27

From the above analysis its found that the average customers in the all
departments are the Middle Grade income level customers as Vishal is
mainly focusing in this segment of customers.

Garment Department

Overview:
Product lines and the quality of the products in the Garment Section are
basically for the medium and average grade income level people and
price range in this section is averagely lies between Rs.250 to 600.

Findings:
In the garment section we have found that products categories are not
focusing the high grade income level customers as the brand
consciousness not presents in the floors. The high grade income level
people are very conscious about the brand that they are using. Basically
they are very conscious about the brand rather than the quality which
isn’t present in this department.

Suggestions:
Vishal is strategically targeting the middle class customer but there is
also a rash of high grade income level customers in their stores. They
should focus on this aspect that they can turn this mob into potential
customer by introducing a various range of high class products in the
garment department.

Gifts Department

28

Overview:
Product lines and the quality of the products in the Gifts Section are
basically for the high and medium grade income level people and price
range in this section is averagely lies between Rs.500 to 800.

Findings:
In the gifts section we have found that stock of gift items is very low
and also products categories are not focusing to low grade income level
customers and the gifts department is referred to high class products.

Suggestions:
They should focus on this aspect by introducing more stocks and also a
lower price range products in the gifts section so that they can also
generate revenue from lower grade income level customers.

Music Department

Overview:
Music section consist of Music CD’s, Game CD & DVD’s and also Movie
DVD’s. Product lines and the quality of the products in the Music Section
are basically for the high and medium grade income level people and
price range in this section is averagely lies between Rs.150 to 500.

Findings:
In the Music section we have found that they are mainly focusing on the
Game CD’s and DVD’s and also the price range is also high. Again the
collection of game cd and dvd’s is considerable but in the case of Indian
Music CD’s the stock level is not also upto the customer’s satisfactory
level.

Suggestions:
Vishal should concentrate on that the music industry is passing through
a high competitive market with piracy world so the price range should
be such as the customer feel free to buy original cd’s. Another point is

29

that there should be a balance between the stock of their product lines
in the music department.

Cards Department

Overview:
In the Indian scenario cards are not very popular and a seasonal
business according to the floor managers and management of the store.
Also the demand is decreasing day by day with the increase of ITES.

Findings:
In Vishal’s prospect we have found that it’s a seasonal business and
they only give an emphasized focus at the time of Christmas Day and
New Year. Also the high grade income level people tends to go
specialized cards stores so only a few numbers of middle and average
income level customers who come to others departments sometimes
seek for the cards.

Suggestions:
Though the demand of cards decreasing day by day but there are also
some others events rather than the 25th & and 31st eve. So a step can
be taken by introducing low range of cards attached with the gifts
section to greet the wishes all the time.

30

Pantaloon Retail (India) Limited, is India’s leading retailer that operates
multiple retail formats in both the value and lifestyle segment of the
Indian consumer marker. Headquartered in Mumbai (Bombay), the
company operates over 8 million square feet of retail space, has over
475 stores across 40 cities in India and employs over 18,000 people.

The company’s leading formats include Pantaloons, a chain of fashion
outlets, Big Bazaar, a uniquely Indian hypermarket chain, Food Bazaar,
a supermarket chain, blends the look, touch and feel of Indian bazaars
with aspects of modern retail like choice, convenience and quality and
Central, a chain of seamless destination malls. Some of its other formats
include, Depot, Shoe Factory, Brand Factory, Blue Sky, Fashion Station,
aLL, Top 10, mBazaar and Star and Sitara. The company also operates
an online portal, futurebazaar.com.

A subsidiary company, Home Solutions Retail (India) Limited, operates
Home Town, a large-format home solutions store, selling home
furniture products and E-Zone focused on catering to the consumer
electronics segment.

Pantaloon Retail was recently awarded the International Retailer of the
Year 2007 by the US-based National Retail Federation (NRF) and the
Emerging Market Retailer of the Year 2007 at the World Retail Congress
held in Barcelona.

Pantaloon Retail is the flagship company of Future Group, a business
group catering to the entire Indian consumption space.

32


Types of Customer:

In the Indian Retail Scenario Big Bazaar has a great success to create a
revaluation. Basically they have differentiated their customers on the
basis of needs of customers rather than their income level. Later on we
will analyze these aspects. Here we are analyzing which income level of
customers are generally tend to purchase the products in Big Bazaar
department wise:

PERCENTAGE OF CUSTOMER FLOWS DEPARTMENT WISE
TYPES OF CUSTOMER SECTION SECTION SECTION SECTION
HIGH GRADE INCOME LEVEL 10% 15% 50% 7%
MEDIUM GRADE INCOME LEVEL 50% 55% 40% 53%
AVERAGE GDARE INCOME LEVEL 40% 30% 10% 40%

TYPES OF CUSTOMER DEPARTMENT WISE

100%

80%

60% AVERAGE GDARE INCOME LEVEL
40%
20%

0%
SECTION SECTION SECTION SECTION

From the above details its found that the in the Garment section they
are targeting the middle and average level of customers. They are not
promoting any major brands and they have their own brand towards the
major brands in garments industry. Flow of high level of customers in
music section is better than the others departments. Generally upper
medium and medium class and also a good percentage of average
income level customer visits their all departments.

33


flow days.


INTER-DEPARTMENT CUSTOMER FLOW

MUSIC DEPARTMENT

CARDS DEPARTMENT

GIFTS DEPARTMENT

GARMENTS DEPARTMENT

0 200 400 600 800 1000 1200 1400 1600

With the study of customer flow in Big Bazaar on an average of high
customer flow day we came to know that it’s basically lies between
2000-2500 customers per day. Here we are taking the customers who
are generating revenues for these departments.

From the above figures its executed that flow of customer in garment
departments is relatively higher than the others departments. One
significant difference is noted from the others retail is that they have
placed their music department at the front of cash counters and
introduced low range of music cds’ and game dvd’s for the all category
customers which increased customer the flow in the music department.

34


We have chosen 4 departments from Vishal Mega Mart and estimated
the valuation of average stock with the assumption details provided by
the branch operation stuffs.

VALUE OF THE STOCK
DEPARTMENT (Rs)

Value of the stock in the Garments Department:

8230000

163000000

Garment Deapartment others department

The garment section is divided into Men, women and kids section. They
have also a discount section only for the garments. In this section they
are selling the old or rejected stocks of major brands at a 40-50 percent
discount rate. The value of stock in garment is being overflowed at the
time of winter season. Winter garments are costlier than the others
seasons and tends to double the value of stock. Normally they are
maintain a stock value of 16.3 to 17 crore value of stock bus it increase
at the time winter to more than 40 crore.

35

Value of the stock of the others departments:

VALUE OF STOCK IN THE OTHERS DEPARTMENTS

7500000

8000000

6000000

4000000
580000
150000
2000000

0
1

GIFTS DEPARTMENT CARDS DEPARTMENT MUSIC DEPARTMENT

In some big retails its seen that they are including some cookery, home
furnishings and life style products in their gifts section. Big bazaar is
maintaining a low stock but more product categories in their gifts
section and generating a remarkable revenue from this.
Stock of music department is overflowed with low price products. Their
stock have a potential to earn revenue from all categories as prices of
products in this department lies between Rs. 30 to Rs.400
approximately.


36

To find out the profitability drivers we have compared the revenue
generated by different departments on the basis of 2004-05 to 2008-09.
For this study we have considered average revenue of a high customer
flow day by the all income level customers.

REVENUE PER DEPARTMENT 2004-05 2008-09
GARMENTS DEPARTMENT 90000 300000
GIFTS DEPARTMENT 42000 180000
CARDS DEPARTMENT 2000 1800
MUSIC DEPARTMENT 19000 40000
TOTAL 153000 521800

COMPARISON OF REVENUE PER DEPARTMENT

600000

500000

400000

300000 2004-05
2008-09
200000

100000

0
GARMENTS GIFTS CARDS MUSIC TOTAL
DEPARTMENT DEPARTMENT DEPARTMENT DEPARTMENT

From the above study its revealed that at the time of inception of the
organised retail in India in the year of 2004-05, only the high grade and
upper medium grade income level customers were tends to go to the retails.
So the maximum portion of revenues generated from these two groups only
in the year of 2004-05.

The change in revenue of garment department and in gifts department from
the year 2004-05 to 2008-09 is significant because Big Bazaar is shifted
products towards the own manufactured brands and they became successful
to establish their own brands in the garment retail industry.
A measurable changes found in the cards department is that the revenues as
well as the stock is decreasing day by day because of changing customer
preferences towards information technology enabled services like SMS, MMS
& E-mails.

37

FACTS AND FINDINGS
departments are the all income level people in Big Bazaar. Meanwhile
their main customer base is upper middle, middle and average level
income level customers.

Garment Department

Overview:
In Garment department the products are mainly their own brands an
price ranges lies between Rs.99 to Rs.800 averagely which is very
reasonable for the middle class,
average and also low level income group peoples. The stock in this
section is fair to satisfy its customer needs and attracts window
shoppers to become a potential customer.

Findings:
The main facts that we have found in the garment section is that Big
Bazaar mainly focusing on the low range of products with their own
brands. All the times they are giving special discounts on all the
garments products. They have adopted tricks like “Buy 2 get 3”, Buy 3
get 5” which looks like as if you buy 2 will get more 3 but the actual fact
is that if you buy 2 products will get 1 free as total you will get 3. It’s a
very strategic and attractive offer specially adopted by Big Bazaar. They
have also a section named ‘LOOT MART’ in the garments department. In
this section they are selling the branded high-class garments at a high
discount rate of 50 to 60 percent.

Suggestions:
After discussing all the profit factors it can be suggest that as they have
a good high income level customer flow in the others departments like
in the furniture and grocery department they can introduce a wider
range of branded products in the garment section as this income is
conscious about the brand that they are using.

38

Gifts Department

Overview:
Gifts department is consisting of various product categories from home
furnishing products to personal using products. According to Big Bazaar
now a days no one can define which section should be referred as a gifts
section. Customer preference is changing day by day with the increased
product categories.

Findings:
In Big Bazaar we have found that they are also referring home
furnishing products, personal care and low range electronic products as
gift products and basically it depends on the customers need and choice.
The whole gift section is able to satisfy the all level of income groups as
they have a large collection of product categories but with a limited
stock of same products. A noted strategy is taken in the gifts
department is that they are selling a large varieties of products with a
limited stock which helps them to implement a good stock turn over
ratio and generating good revenue from this department.

Suggestions:
Big Bazaar can focus on the stocks of the gifts though the stock of
varieties is remarkable but within the same category the stock is not
appreciatable.

Music Department

Overview:
Music section consist of Music CD’s, Game CD & DVD’s and also Movie
DVD’s.

Findings:
Big Bazaar has introduced very low range cd & dvd’s like ‘Moserbaer’
music and movie cd-dvd’s and price range lies in between Rs.30 to 100.
Basically they are gaining a competitive business at the age of piracy
products in this industry. Also they have a very good collection in games
cd-dvd category at a low price range of Rs.100 to 200 whereas if
anyone go to the open market the average price range is Rs.300 to 400
for the copyright product.

39

Suggestions:
In the music its found that the collection of movie cd’s and educational
cd’s is low than the music and games cds. They are emphasizing on the
low price mp3 and game cds where as there is also a demand for
educational and movies cd-dvd’s.

Cards Department

Overview:
In the Indian scenario cards are not very popular and a seasonal
business according to the floor managers and management of the store.
Also the demand is decreasing day by day with the increase of
information technology enable services.

Findings:
We have found that it’s a seasonal business and they only give focus at
the time of Christmas Day and New Year. Also the high grade income
level people tends to go specialized cards stores so only a few numbers
of middle and average income level customers who come to others
departments sometimes seek for the cards.

Suggestions:
Though the demand of cards decreasing day by day but there are also
some others events rather than the 25th & and 31st eve. So a step can
be taken by introducing low range of cards attached with the gifts
section to greet the wishes all the time.

40

Lifestyle International (P) Ltd is part of the Landmark Group, a
Dubai – based retail chain. With over 30 years’ experience in retailing,
the Group has become one of the foremost retailers in the Gulf.

Positioned as a trendy, youthful and vibrant brand that offers customers
a wide variety of merchandise at an exceptional value for money,
Lifestyle India began operations in 1999 with its first store in Chennai.

Currently there are 14 Lifestyle stores, 7 Home Centre stores and 1
Baby Shop store across Ahmedabad, Bangalore, Chennai, Hyderabad,
Jaipur, Mumbai, Pune, New Delhi, Noida and Gurgaon.

Today Lifestyle offers a truly international shopping experience, a fact
borne by numerous accolades.

Business World – IMRB Most Respected Company Awards survey rated
Lifestyle as the ‘Most Respected Company in the Retail Sector’ in 2003
and 2004

‘ICICI – KSA Technopak Award for Retail Excellence’ in 2005
•
Reid & Taylor ‘Retailer of the Year’ award in 2006
•
Lycra Images Fashion Award for the ‘Most Admired Large Format
•
Retailer of the Year’ in 2006

Images Retail ‘Most Admired Retailer of the Year – Department Store’ in
2008.

42


Types of Customer:
Lifestyle International is a major player in the Indian organised retail
industry. The have a good customer base in the high class level income
group. Mainly they focusing on the Men-Women-Kids Apparel, gifts and
also in the home furnishing products. They don’t have any music, cards
or cookery departments.

TYPES OF TARGET CUSTOMER
HIGH GRADE INCOME LEVEL 75%

MEDIUM GRADE INCOME LEVEL 20%

AVERAGE GDARE INCOME LEVEL 5%

CUSTOMER FLOWS DEPARTMENT WISE

100%

80%
AVERAGE GDARE INCOME LEVEL
60%
40%

20%

0%
GARMENT SECTION GIFTS SECTION

From the above analysis its revealed that though a very few numbers of
low grade income level customers are visiting the garment section but in
the gifts section we have found that the products are unreachable for
the average level income groups.


43

flow days.


Inter-department Customer Flow

600
GIFTS DEPARTMENT

GARMENTS

1100
DEPARTMENT

0 200 400 600 800 1000 1200

Number of Customer

In lifestyle we have found that the average customer flow lies between
1200 to 1500 on an average high customer flow day.

The main products categories in Lifestyle basically the garments and
home furnishing products related to gifts items. We have found that in
the case of garments department customer flow is 1100 per day basis
and in the case of gifts departments its 500 to 600 per day basis. Its
noted that the gifts department consists of exclusive products.


44

VALUE OF THE STOCK
DEPARTMENT (Rs)

VALUE OF STOCK

50500000

760000000

GARMENTS DEPARTMENT GIFTS DEPARTMENT

The garment section is divided into Men, women and kids section as well
as lifestyle accessories and shoe wears. They have all the major brands
like Blackberry, Louis Phillips, Lee Coopers, Van Hausen, Parx, Lee for in
the men catagory, Melanga, Code, Ginger in the women category and
for the kids section they have brands like Bossini, Benetton, Orchestra,
Juniors, Teeny Tiny, Artex etc.

The garments section includes:
1. Watch section for the brands like Fast track, Zodiac, Hugo-boss,
Nautica, Marie Claire, Casio, Guess, GC, Kenneth Cole, Aspen,
Skagen, Levi’s, Adidas etc.

2. Sunglass section for the brands like Ferrari, Mojo, Mont blanc,
Scott,, Guess etc.

3. Fashion accessories for the brands like Tribal Zone, Sarah, Fire
Fly, Adrika, Earrings, Necklace, Bracelet, Anklet, Bangles, Hair
Clips, Bra Straps, Scrunges, Men’s Jewelry, Kids’ Fashion.

All these product ranges are exclusively for the High grade income level
customers.

45

The gifts section is consisting of high class home furnishings and
personal grooming products. They are introducing it by the name of
“Home Centre”. It’s a one-stop destination for furniture, home ware and
home furnishings that enterprises elegance, luxury and individuality.
Home Centre houses a wide range of contemporary and classic
furniture, linen as well as other home accessories, thus providing
customers a high range products.


REVENUE PER DEPARTMENT In 2008-09(Rs.)
TOTAL 5000000

Revenue in 2008-09 Department

5000000

4000000

3000000

2000000

1000000

0
GARMENTS GIFTS TOTAL
DEPARTMENT DEPARTMENT

The average revenue earned per customer basis is more Rs.6000. Comparison of revenue
generated by the each departments is taken into consideration on an average of high
customer flow days.

FACTS AND FINDINGS

46

departments are basically high grade income level customers. All the
products ranges in the both departments significantly refers to premium
customers.

Garment Department

Overview:
In Garment department the products are mainly the major international
readymade brands and price ranges lies between Rs.800 to Rs.2000
averagely which is meant for a few Indians customers.

Findings:
The products exclusively for a certain income level customers. Maximum
products are unreachable for the medium and average income level
peoples. Whatever the stock is quite efficient to satisfy their potential
customers.

Suggestions:
They are focusing a very few Indian customers and the most of the
Indian consumers can’t afford this price ranges. So if they want to
increase their market share in the Indian retail Industry they should
introduce such product ranges also which can be affordable for the
medium level income groups and the main customer in the retail
industry lies within it.

Gifts Department

Overview:
Gifts department is consisting of various product categories from home
furnishing products to personal grooming products.

Findings:
In the Lifestyle we have found a wider range of glass made and metal
products which are exclusive and also the quality isn’t upto the price
levels. Whatever, the stock is sufficient to satisfy its customers but the
price range is found very high as a gift product in this department.

Suggestions:

47

Again the Indian retail industry is targeting the medium level income
group people as its increasing day by day but the products in the
Lifestyle store is meant only for the high class consumers which is very
low in population in India. Also an important point is noted that though
the volume is sufficient but the varieties in product categories as a gift
isn’t sufficient.

48

COMPARITIVE ANALYSIS OF THE
STORES

On the basis of customer flows:

We have considered the average of the high customer flow days.
Flow of Customer per Day
Store Name No. of Customer
Vishal Mega Mart 1600
Life Style 1200
Big Bazaar 2300

Customer Flow per Day

2500

2000

Number of 1500
Customer 1000

500

0
Vishal Mega Mart Life Style Big Bazaar No. of Customer
Name of the Store

Vishal Mega Mart: From the study its revealed that the average
customer flow is medium grade income level customers and average
grade income level customers.

Life Style: The customer flows in this store is basically refers to the
high and upper medium income level customers.

Big Bazaar: They are focusing on the all income level customers but it
depends on the departments wise also.

On the basis of stock value:

49

Comparison of stock value
Store Name Garments Dept Gifts Dept Cards Dept Music Dept
Vishal Mega Mart 65000000 250000 77500 175000
Life Style 735000000 55000000
Big Bazaar 163000000 7500000 150000 575000

Garments Department:
The value of stock depends on the season. At the time of winter season
it increases upto 2 to 3times than the other seasons as the price of
winter garments is relatively higher than springs-summer collection.
Garments Dept

800000000
700000000
600000000
500000000
Garments Dept
400000000
300000000
200000000
100000000
0
Vishal Mega Mart Life Style Big Bazaar

Vishal Mega Mart: The product in the garment section isn’t exclusive
and meant for the medium to average grade income level customers.
Also they aren’t focusing on major brands in the garment industry. All
the products are unbranded and semi branded and don’t attracts the
high grade level income groups. However brand consciousness not
present but the stock volume is able to met customer satisfaction.

Life Style: All the major brand players are maintaining their stocks in
garments section as their main focus is on the Apparel products. Product
ranges is very high and meant for the high class consumers.
A high brand consciousness helping them to generate a remarkable
revenue with a high stock turn over ratio and smiling face of customers.

Big Bazaar: They have their own brands in the garments department
with a reasonable price for the upper medium, medium and average
class income groups. Though brand conscious people will think at the

50

time purchasing but customer are satisfied with the stock and as well as
quality related to price.

Gifts Department:
Gifts Dept

60000000

50000000

40000000

Gifts Dept
30000000

20000000

10000000

0

Vishal Mega Mart: They are not focusing on the gifts stock for the
result customer flow and revenue from this section is very low and no
point is gaining for the customer satisfactory level.

Life Style: A very large investment in the gifts section is found at the
time of study. They are basically emphasizing on introduction of
personal grooming products and home furnishing products in the gifts
section. This department is solely for the upper class consumers and
customer satisfactory level is remarkable.

Big Bazaar: A wider range of products is found in gifts section for the
all income level people. Though the variety in the product categories is
high but the volume of stock in the same product is low. How ever
customers are happy with the large number of collection of gifts items.
Cards Dept

160000
140000

Cards Department:
120000
100000
Cards Dept
80000
60000
40000
20000 51
0

Vishal Mega Mart: Stock in this department is taken care as relatively
low and it’s considered as a seasonal business.

Big Bazaar: Stock in this department is taken care as relatively low and
it’s considered as a seasonal business.

Music Dept

Music Department:
600000

500000

400000

Music Dept
300000

200000

100000
52
0

Vishal Mega Mart: Music department is consisting of music, movies
and games cd-dvd’s. The stock of game cd-dvd’s is higher than the
others and price range is relatively not for the medium and average
income groups though they are focusing on this income group only and
a result they failed to satisfy their customer needs.

Big Bazaar: Their music department is also consisting of music, movies
and games cd-dvd’s and they have maintained a good balance between
the stock level in all the categories. And also a remarkable change is
noted that they selling very low range products within this copyright
product categories. They customer satisfaction level is high with the
fulfillment of their needs.

On the basis of revenue:

Comparison of Revenues
Store Name 2004-05(Rs.) 2008-09(Rs.)
Vishal Mega Mart 58500 196800

53

Life Style ----------- 5000000
Big Bazaar 160500 481500

Comparison of Revenues

5000000

4000000

3000000
2004-05(Rs.)
2008-09(Rs.)
2000000

1000000

0

IN 2004-05:
At the time of sunrise of organised retail industry in India, the scenario
was not been like present days. At that time it was a very new concept
of marketing for the Indian consumers. Only the high class level and a
few upper medium class income group customers were visiting to those
retail markets. The perception of middle and lower class peoples was
that these stores had over-valued their products and to some extent it
was right also.

IN 2008-09:
Now a days shopping in the retail stores is a very common things.
Peoples are habituated to go into the retails in the weekends. Day by
day the organised retailers are becoming stronger to attract customers.
Hyper- markets like Vishal mega mart, Big Bazaar, Home town have the
stock to fulfill all the needs of customers from alpine to elephant.

On the basis of Revenue per customer:
For the study of revenue per customer, we have taken the contribution
of total customer flow on the total revenue of the stores on an average
of high customer flow days.
Revenue per customer basis
Store Name 2004-05(Rs) 2008-09(Rs)

54

Vishal Mega Mart 450 1350
Life Style 6000
Big Bazaar 650 2100

Comparison of Revenue per customer

6000

5000

4000
2004-05
3000
2008-09
2000

1000

0

Vishal Mega Mart: Though the revenue per customer of the Vishal
mega Mart increased from 2004-05 to 2008-09 but the revenue per
customer is significantly low than others. As their main customer base is
medium and average income group customers and also customer flow is
low so it generates significantly low revenue per customer.

Life Style: The customer flows in this store is basically refers to the
high and upper medium income level customers and though their
customer flow is lower but their return on investment is high so it helps
to earn a high income per customer.

Big Bazaar: They are focusing on the all income level customers with a
high customer flows per day and have a base of brand consciousness
amongst the customer which’s helping them to increase their revenue
per customer. Also there is a major contribution of the others
departments like grocery and vegetables department towards the per
customer revenue.

55

ASIA PACIFIC INSTITUTE OF MANAGEMENT STUDIES
(This research is done only for the education purpose. There is no financial/competitive motive.)

Questionnaire (General)

A. Store name:

56

B. Location of the Store:

(i) Mall (ii) General (iii) Densely populated area

C. Which kind of customers generally visit at your store?

(i) High grade income level

(ii) Medium grade income level

(iii) Average grade income level

D. Flow of customer per day in your store:

(i) Below 500 (ii) 500 to 1000 (iii) 1000 to 1500

E. Revenue earned per customer basis:

In 2004-05 Rs. In 2008-09 Rs.

F. In which department stock is being taken care comparatively in a lightly way?

(i) Garments (ii) Gift items (iii) Cards (iv) Music

(v) None of this

If not why you are emphasizing on every segment?
___________________________________________________________________
___________________________________________________________________.

G. Does the brand consciousness of customers divert them to the different
departments ?

Yes No

If yes which type of customer?

57

Young Old child Beauty conscious people

H. Is the Information Technology helping in ROI of the store?

Yes No

If yes then which features is/are motivating?

ERP Online Adv SAP/Tally Information Security

I. Does the good atmosphere in the store pick the sale up?

Yes then why? ________________________________________.

No then why? ________________________________________.


Questionnaire (Garment Department)

A. Which kind of customers generally visit at your garment section and their flow?

(i) High grade income level Flow %

(ii) Medium grade income level Flow %

58

(iii) Average grade income level Flow %

B. Revenue generated by Garment section in your store

(i) High grade income level: Revenue in 2004-05

Revenue in 2008-09

(ii) Medium grade income level: Revenue in 2004-05

Revenue in 2008-09

(iii) Average grade income level: Revenue in 2004-05

Revenue in 2008-09

C. Value of average stock maintained in Garment section: Rs.

D. Is your stock efficient to revamp the Customer satisfaction in your store?

(i) Yes (ii) No

Questionnaire (Gifts Department)

A. Which kind of customers generally visit at your Gift section and their flow?



59


B. Revenue generated by Gift section in your store


Revenue in 2008-09


Revenue in 2008-09


Revenue in 2008-09

C. Value of average stock maintained in Gift section: Rs.


(i) Yes (ii) No


Questionnaire (Music Department)

A. Which kind of customers generally visit at your Music section and their flow?


60



B. Revenue generated by Music section in your store


Revenue in 2008-09


Revenue in 2008-09


Revenue in 2008-09

C. Value of average stock maintained in Music section: Rs.


(i) Yes (ii) No

Questionnaire (Cards Department)

A. Which kind of customers generally visit at your Cards section and their flow?



61


B. Revenue generated by Cards section in your store


Revenue in 2008-09


Revenue in 2008-09


Revenue in 2008-09

C. Value of average stock maintained in Card section: Rs.


(i) Yes (ii) No

Questionnaire filled up by :
Designation :

62

Age :
Working here for :
Date & Time :
Place :

(Be sure that all the details will be kept in safe and will not be disclosed or used on any
others purpose)

Thanking for your valuable time and support.

63

THE GREAT INDIA PLACE

Formats of the stores in the Great India Place:

SRL
NAME OF THE STORE TYPE OF THE STORE
NO
GROUND FLOOR
1 GLOBUS SPECIALITY CHAIN
2 LIFE STYLE DEPARTMENTAL STORE

65

3 BOSSINI SHOP
4 METRO SHOES SPECIALITY CHAIN
5 WOODLAND SPECIALITY CHAIN
6 TANABANA SHOP
7 BOMBEY SELECTION SHOP
8 M & B FOOTWARE SPECIALITY CHAIN
9 NAKSHATRA SPECIALITY CHAIN
10 MARKS & SPENCER DEPARTMENTAL STORE
11 LEVIS FLAGSHOP SPECIALITY CHAIN
12 GIOVANI SHOP
13 SHOPPERS STOP DEPARTMENTAL STORE
14 PANTALOONS DEPARTMENTAL STORE
15 INDIGO NATION SPECIALITY CHAIN
16 LILLIPUT SPECIALITY CHAIN
17 WILLS LIFESTYLE DEPARTMENTAL STORE
18 KAZO SHOP
19 COSTA COFFEE SPECIALITY CHAIN
20 KFC SPECIALITY CHAIN
21 PIZZA HUT SPECIALITY CHAIN
22 ZARDARI SHOP
23 DIMENSION SHOP
24 KILOL SHOP
25 KALPANA SAREES SPECIALITY CHAIN
26 MEENA BAJAR DEPARTMENTAL STORE
27 ZODIAC SPECIALITY CHAIN
28 REEBOK SPECIALITY CHAIN
29 BG's SPECIALITY CHAIN
30 ARCHIES SPECIALITY CHAIN
31 WORLD OF TITAN SPECIALITY CHAIN
32 HOME TOWN HYPER MARKET
33 BIG BAZAAR HYPER MARKET

FIRST FLOOR

34 MONTE CARLO SPECIALITY CHAIN
35 REID & TAYLOR SPECIALITY CHAIN
36 PALL MALL SHOP
37 CAFÉ COFFE DAY SPECIALITY CHAIN
38 RAYMOND SPECIALITY CHAIN
39 SAMSONITE SPECIALITY CHAIN
40 SHOPPERS STOP DEPARTMENTAL STORE
41 VEN HEAUSEN SPECIALITY CHAIN
42 ADIDAS SPECIALITY CHAIN

66

43 SPYKAR SPECIALITY CHAIN
44 REEBOK SPECIALITY CHAIN
45 LEE SPECIALITY CHAIN
46 NIKE SPECIALITY CHAIN
47 GLOBUS SHOP
48 PUMA SPECIALITY CHAIN
49 MOUSTACHE SPECIALITY CHAIN
50 GILI WORLD SPECIALITY CHAIN
51 BLACKBERRY SPECIALITY CHAIN
52 RITU KUMAR SPECIALITY CHAIN
53 HIMALAYA OPTICAL SPECIALITY CHAIN
54 LACOSTE SPECIALITY CHAIN
55 KODAK EXPRESS SPECIALITY CHAIN
2ND FLOOR
56 ME 'n' MOM SPECIALITY CHAIN
57 CASIO SPECIALITY CHAIN
58 CARLTON LONDON SPECIALITY CHAIN
59 KITTEN SHOES SHOP
60 CATMOSS SHOP
61 OCTMOSS SHOP
62 OCTAVE SHOP
63 MAX LIFESTYLE SPECIALITY CHAIN
64 GKB OPTICAL SPECIALITY CHAIN
65 PEPE JEANS LONDON SPECIALITY CHAIN
66 ODYSSEY SPECIALITY CHAIN
67 BOSE SPECIALITY CHAIN
68 STEPPING STONE SPECIALITY CHAIN
69 VIVID SPECIALITY CHAIN
70 ZEST SHOP
71 INDIGO SPECIALITY CHAIN
72 SHAW BROTHERS SHOP
THIRD FLOOR
73 HOOP SHOP
74 BARISTA SPECIALITY CHAIN
75 BOWLING CO SPECIALITY CHAIN
76 YATRA SPECIALITY CHAIN
77 STREET FOOD OF INDIA SPECIALITY CHAIN
78 NIRULA's SHOP
79 TANDOORI VILLAGE SHOP
80 YO CHINA SPECIALITY CHAIN
81 SAGAR RATNA SHOP

67

82 SANRIO SHOP
83 ICE CURE SHOP
84 BIG CINEMAS SPECIALITY CHAIN
85 MUSIC LAND SPECIALITY CHAIN
86 MASAKALI SHOP
87 MY DOLLER STORE SPECIALITY CHAIN
88 JUMBO ELEVTRONIC SHOP
89 STAPLES SPECIALITY CHAIN
90 FIT & ACTIVE GYM SHOP

Group-8
Asia pacific Institute of management
Studies

68

AVISHEK SAHU-H-03 DEBOJIT ROY H-66

KRISHNAKANT PANDEY H-25

BISWAJIT GHOSH H-12 SRITANU DAS MAHAPATRA H-57

69

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