Saturday, 24 December 2016
Friday, 4 November 2016
Recruitment Drive @ Apna Haat - Bangalore
Apna Haat Retail Private
Limited invites young & entrepreneurial candidates for managing its
Omni-channel Fresh retail stores at Bangalore. Good earning potential of 12 -
20k per month and an awesome growth plan for deserving candidates!
Send resume at support@apnahaat.com
Profile Details -
1. Store Manager
Location – Bangalore
No. of Position – 10
Education & Profile – A
Graduate / MBA, Fresh or experienced in
Retail. Experience of F&V operations will be of added advantage.
Language – English / Hindi
& Kannada
2. Store Executive
Location – Bangalore
No. of Position – 10
Education & Profile – A
10+2 / Graduate, Fresh or experienced in
Retail.
Language – English / Hindi
& Kannada
Wednesday, 13 January 2016
10 REASONS WHY THE START-UP INDIA EVENT IS worth attending...
Prime Minister Narendra Modi, in his ‘Mann Ki Baat’ radio programme last month, elaborated on the ‘Start-up India, Stand Up India’ plan – an initiative by the government to adapt new start-up-friendly policies.
This just reinforces the relevance of start-ups and can be seen as an acknowledgement of the role they play in shaping the economy.
Here are the top 10 reasons why the Start-up India, Stand Up India event – a nonstop, day-long global workshop being held on January 16, 2016 – is possibly the best thing to happen for the start-up industry in India.
1. Government Acknowledges Relevance of Start-ups
The government wants to promote entrepreneurship at the grassroots level. This event is intended to bring about fresh opportunities to enthusiastic youth by creating a structured programme.
Job creation will be boosted with the provision of financing and incentives for start-up ventures.
2. Address by the PM to the Start-up Community
The closing session of the event will be given by the Prime Minister, Narendra Modi. He will formally launch the initiative and reveal the complete Start-up Action Plan.
He will also elaborate about the policies and schemes that will come into play.
3. Networking Opportunity with Thought Leaders
Over 1500 CEOs, industry experts and investors from across the country have been invited to be a part of the event.
This means a large congregation of knowledge and talent in one place – a perfect opportunity to learn, network and establish relationships.
(Incidentally, get an opportunity to catch up with Vibhesh Mishra – Founder & MD, Apna Haat)
4. Tax Concessions
The Start-up India, Stand Up India event will be the introduction of the removal of tax on start-ups for seed funding provided by Indian angel investors.
Presently, 90% of Indian start-ups look at foreign sources for funds, but this move will encourage funding to come from within the country itself.
5. Interactive Talks with Global Capitalists
Masayoshi Son (Founder & CEO, SoftBank), Travis Kalanick (Founder, Uber) and Adam Neumann (Founder, WeWork) will be engaging in interactive sessions.
Nikesh Arora (President & CEO, SoftBank) will also present an interactive session relating to start-up funding.
6. Google’s ‘Launchpad Accelerator’ Session
Google is all set for their innovative session called ‘Launchpad Accelerator’, which is intended to enable start-ups to develop great apps by making live pitches to potential investors at the early stage itself.
7. Other Guests of Honour
Union Minister of Finance & Corporate Affairs, Arun Jaitley will inaugurate the event, and the Minister of State for Commerce & Industry, Nirmala Sitharaman, will be the Guest of Honour.
8. Panel Discussions
Some of the panel discussions to look forward to are –
- Unleashing Entrepreneurship & Innovation: What do Indian Start-ups Need to Grow & Prosper
- How Digitalisation Will Change India’s Future
- Celebrating Women: Stories of Innovative Women Entrepreneurs
- Financial Inclusion is Within Reach
9. Unique Q&A Session
A session titled ‘Face-to-Face with Policy-Makers’ will be held, which involves secretaries from key ministries answering questions relating to the government enabling the development of the start-up ecosystem.
This purpose of this panel is to reinforce the government’s commitment towards the creation of the ideal start-up growth ecosystem.
10. Concerns by Entrepreneurs
A survey conducted by YourStory revealed some of the biggest concerns by entrepreneurs as –
- Regulatory compliance norms to be made easier
- Relaxation of existing tax laws
- Access and support to funding
- Access to guidance from industry leaders
- Exposure to colleges outside the IIT/ IIM network
All these issues are expected to be addressed at the day-long workshop.
APNA HAAT is an Omni-channel Food and Grocery Retail Start up, currently operating in Delhi NCR.
Sunday, 31 May 2015
Funding Galore: Startup Fundings Of The Week [25May - 30May]
We bring to you latest developments regarding funds raised, important developments and acquisitions that took place this week.
The Mumbai-based investment firm Zodius Capital has raised $110Mn for its new fund to invest in internet and tech startups in the country. With already two investments in its basket, it also plans to invest about $12-$16Mn each in 8-10 growth stage enterprise software and consumer technology startups by end of this year.
This week 12 startups raised about $22 Mn in funding. (Calculations are based on the startups that disclosed their funding amounts)
Have a look at startups that got funded this week:
UE LifeSciences Inc: Unitus Seed fund has selected its second startup, UE LifeSciences Inc under its StartHealth Investment Program where the startup will receive an initial funding of $80,000 and a potential follow-on investment of at least $160,000. The US and India based startup has invented a portable breast screening device which helps in early-stage detection of breast cancer. The startup plans to use these funds to make breast screening to massed by reducing the cost of diagnosis.
Truweight: Hyderabad-based Truweight has raised an undisclosed amount from Kalaari Capital In series A funding. The startup focuses on weight loss and promotes sustainable healthy lifestyle for same. It involves counselling clients online and at their weight loss centres. Along with this the company has its own range of food products.
Zoomcar: Bangalore-based Zoomcar has raised an undisclosed amount of funding which was joined by new investors along with existing investors such as Sequoia Capital. No plans have been revealed yet as to what the funds will be used for. Along with this, the company’s co-founder David Back has left the company.
TheKarrier: Last Mile delivery is always cumbersome, to ease the process Bangalore-based theKarrier provides on demand truck service in the city. The company has raised $234k from Sol Primero, Outbox Ventures and Nikunj Jain. The said funding will be used by the company to expand its operations as it has plans to expand to five cities by the end of this year.
Fabhotels: Earlier known as Casa2inns, the startup that provides branded budget accommodation raised $5Mn from Accel Partners and Kalaari Capital. The company will use the said funds to establish a pan-India footprint along with investment in consumer and operator facing technology. The company is currently present across six cities with more than 50 hotels on its platform.
Postman: Bangalore-based Postman has raised $1 Mn in seed round funding from Nexus Venture Partners. The company will use the funds for setting up an office in San Francisco this year. Not only this, the company will be using the same for hiring. The company offers a platform for teams developing APIs.
ZenParent: Parenting Tips and resources for the New-Age Parent including weekend events to easy recipes and family bonding ideas are provided by the Bangalore-based startup Zenparent. The startup has raised $500K in seed funding from i2india Ventures and plans to use the same to ramp up its operations as well as expand beyond Bangalore.
Newgen Payments: Taking a brick and mortar business online is the new fab, Newgen Payments aims to make the process seamless. New Delhi and Amsterdam based startup helps it clients by designing their websites, providing development and hosting services as well as simplifying the checkout process. The company has secured an undisclosed amount of funding from GlobalCollect’s CEO Jan Manten.
Renderlogy: Mumbai-based Astarc Ventures has invested $1Mn in a new round of funding in Hyderabad-based interior design technology startup Renderlogy. The startup offers technology enabled experiences, visualisations and solutions for the builders, suppliers and consumers. It has also a patent-pending ‘Interiors definition technology’ based on which it is planning to launch a B2C (business-to-customer) interior designing portal in June and is exploring tie-ups with vendors for the same.
Urban Pro: Urban Pro, formerly knows as ThinkVaidya which is an online marketplace connecting professionals and consumers across a variety of fields like interior designing, event management, photography and health and wellness services. The startup raised $2Mn funding from Nirvana Venture Advisors. The said funds will be used to improve its platform and in building its presence in the app-based mobile services
GoodBox: Bangalore-based Goobox is a startup which connects businesses with consumers has raised $200K in seed funding led by Manipal Media Networks. The company provides a platform where customers can directly interact over chat with a business. Not only this, it also enables businesses to put up photographs, send group messages to their customers and more. The funding will be used to develop the technical aspects of the product.
Ather Energy: Bangalore based Ather Energy, the company which is developing electric two-wheeler, has raised around $12 Mn (INR 75.33 Cr.) in a funding led by Tiger Global. The startup plans to use the new round of funding for development, testing, production and the launch of its first smart electric two-wheeler, the Ather S340.
Besides, Cross Border Angels has invested in 2 startups i.e. Comfee & TrustedInsight. With this, Gurgaon-based Power2sme, a ‘Buying Club’ for SMEs in India has announced its plans to raise fresh funding from the existing investors. The company is also looking at around $55 Mn to $64 Mn sales this year against $22 MN in last year.
Also, there are rumors that New York-based venture capital firm, Tiger Global Management is planning to invest in an online marketplace for shared accommodation Nestaway and online budget hotel stay brand Zo Rooms. According to the person familiar with the development, the firm is in talks with both the startups to invest around $10- $15 Mn in each firm.
Biyani-Mittal deal: The power of two
The Biyani-Mittal deal is a sign of things to come in the retail sector: Consolidate to grow or, at least, survive
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Image: Mexy Xavier
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Kishore Biyani: The deal with Bharti Retail helps him achieve his own targets faster
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n the last Sunday of January, Vedanta boss Anil Agarwal played host to old friends at his house in London’s Mayfair neighbourhood. There were the Mittal brothers (Rajan and Sunil) of Bharti Enterprises who had made a stop on their way to the World Economic Forum at Davos. Also present was Kishore Biyani (related to Agarwal through marriage) of Future Group. The meeting had been called by Agarwal who had wanted to bring them together to discuss the possibility of doing business.
The Mittals and Biyani began to talk about how their retail companies could work together. Talks were preliminary and revolved around how the retail sector was shaping up in India, as well as the threat from ecommerce, which is flush with private equity money. Discussions lasted the entire day. “I came away thinking this could result in a deal,” says Biyani, who runs the Rs 15,000-crore Future Group, India’s largest retail chain.
The Mittals and Biyani began to talk about how their retail companies could work together. Talks were preliminary and revolved around how the retail sector was shaping up in India, as well as the threat from ecommerce, which is flush with private equity money. Discussions lasted the entire day. “I came away thinking this could result in a deal,” says Biyani, who runs the Rs 15,000-crore Future Group, India’s largest retail chain.
He had reason to be optimistic. Rajan, who runs Bharti Retail (the retail business of Bharti Enterprises), and Biyani had known each other for years. In the early 1990s, the Delhi-based Rajan made regular business trips to Mumbai and was a customer at the first Pantaloons store at Wodehouse Road in Colaba. Later, in 2006, the two would meet when Rajan paid Biyani a courtesy call after Bharti entered the retail business in partnership with Walmart. Since then, Biyani has also made several visits to the Bharti Walmart Best Price stores in Punjab to understand how the international giant operates. He is also a known admirer of Walmart founder Sam Walton and constantly refers to his biography Sam Walton: Made in America.
Related stories
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But Bharti’s foray into retail was fraught with concerns. As Rajan explains in a phone interview, “Unlike telecom, the structural issues for high growth were missing in the retail industry.” He points to problems with real estate, taxation, human resources and capital. The net result: Bharti, which had been plugging away at this business for a little under a decade (first with Walmart and then alone), had Rs 2,500 crore in revenue to show for it. In contrast, its two-decade-old telecom business had scaled to Rs 85,000 crore. The Mittals believed they were better off finding a partner.
Meanwhile Biyani, who had spent the last three years pruning his debt, had recently started building his next pillar of growth—the small store. In December 2014, he acquired South Indian supermarket chain Nilgiris, adding 140 stores to his portfolio. Just over a month later, Bharti presented a potential target, with a portfolio of 200 neighbourhood stores that could fit well in his plan. There was only one thing he couldn’t do: Pay cash for the deal and be saddled with more debt. As a solution, over the next three months, Rajan and Biyani would negotiate an all-stock deal.
The deal, finally announced on May 4 in Delhi, signalled a consolidation in the retail business that many analysts had been expecting. “Companies had entered the retail business with different objectives. For some it was a chance to sell to a foreign partner. With multi-brand FDI stalled, it is hardly surprising that such deals are taking place,” says Harish HV, partner at Grant Thornton India.
In a sign of the times, just a day before the Mittal-Biyani deal was announced, the retail sector saw another merger: Aditya Birla Group announced a Rs 12,000-crore merger of Pantaloons Fashion & Retail with Madura Garments to create Aditya Birla Fashion & Retail Ltd.
It wasn’t just Mittal who had had a tough time in the retail sector; Biyani too has had a challenging time over the last three years. His breakneck expansion of stores in the years leading to the global financial meltdown of 2008 had burdened him with a crushing debt load. By 2012, a debt of Rs 9,000 crore meant his interest payments were severely denting his profitability; a business with sales of Rs 15,000 crore was making under Rs 500 crore in profit. That left him with no money to fund further expansion, which had continued to be his strategy.
Biyani had little choice but to reorganise his business. Pantaloons was sold to Kumar Mangalam Birla’s Aditya Birla Group (in April 2012), while Future Capital was sold to Warburg Pincus in May 2012. He separated his apparel division from his hypermarket stores and listed the two separately as Future Lifestyle Fashion and Future Retail respectively.
At the same time, Future Group was also working hard to increase margins by adding private labels and selling more apparel at its hypermarkets. This has led to margins going up by around 3 percent over the last three years. “We never looked at measures like return on capital earlier,” says Biyani. Now, Future Group won’t open a store unless they can get a 25 percent internal rate of return.
This is a far cry from the days when the group would set up a store based on mere instinct. Biyani has evolved from being a gut-driven entrepreneur to one who spends time understanding the science of retail. For instance, in the last five years, Future Group has significantly enhanced its back-end. Its sourcing of fruits and vegetables is now second to none, say experts. With 180 Big Bazaar hypermarkets across the country, it has a significant lead over rival Reliance Retail (a subsidiary company of Reliance Industries, which owns Network 18, publisher of Forbes India). Other rivals like Aditya Birla Group’s More and Sanjiv Goenka’s Spencer’s haven’t managed to scale up quite as aggressively.
Meanwhile Biyani, who had spent the last three years pruning his debt, had recently started building his next pillar of growth—the small store. In December 2014, he acquired South Indian supermarket chain Nilgiris, adding 140 stores to his portfolio. Just over a month later, Bharti presented a potential target, with a portfolio of 200 neighbourhood stores that could fit well in his plan. There was only one thing he couldn’t do: Pay cash for the deal and be saddled with more debt. As a solution, over the next three months, Rajan and Biyani would negotiate an all-stock deal.
The deal, finally announced on May 4 in Delhi, signalled a consolidation in the retail business that many analysts had been expecting. “Companies had entered the retail business with different objectives. For some it was a chance to sell to a foreign partner. With multi-brand FDI stalled, it is hardly surprising that such deals are taking place,” says Harish HV, partner at Grant Thornton India.
In a sign of the times, just a day before the Mittal-Biyani deal was announced, the retail sector saw another merger: Aditya Birla Group announced a Rs 12,000-crore merger of Pantaloons Fashion & Retail with Madura Garments to create Aditya Birla Fashion & Retail Ltd.
It wasn’t just Mittal who had had a tough time in the retail sector; Biyani too has had a challenging time over the last three years. His breakneck expansion of stores in the years leading to the global financial meltdown of 2008 had burdened him with a crushing debt load. By 2012, a debt of Rs 9,000 crore meant his interest payments were severely denting his profitability; a business with sales of Rs 15,000 crore was making under Rs 500 crore in profit. That left him with no money to fund further expansion, which had continued to be his strategy.
Biyani had little choice but to reorganise his business. Pantaloons was sold to Kumar Mangalam Birla’s Aditya Birla Group (in April 2012), while Future Capital was sold to Warburg Pincus in May 2012. He separated his apparel division from his hypermarket stores and listed the two separately as Future Lifestyle Fashion and Future Retail respectively.
At the same time, Future Group was also working hard to increase margins by adding private labels and selling more apparel at its hypermarkets. This has led to margins going up by around 3 percent over the last three years. “We never looked at measures like return on capital earlier,” says Biyani. Now, Future Group won’t open a store unless they can get a 25 percent internal rate of return.
This is a far cry from the days when the group would set up a store based on mere instinct. Biyani has evolved from being a gut-driven entrepreneur to one who spends time understanding the science of retail. For instance, in the last five years, Future Group has significantly enhanced its back-end. Its sourcing of fruits and vegetables is now second to none, say experts. With 180 Big Bazaar hypermarkets across the country, it has a significant lead over rival Reliance Retail (a subsidiary company of Reliance Industries, which owns Network 18, publisher of Forbes India). Other rivals like Aditya Birla Group’s More and Sanjiv Goenka’s Spencer’s haven’t managed to scale up quite as aggressively.
This article appeared in the Forbes India magazine issue of 12 June, 2015
Keywords: Bharti Retail, Kishore Biyani, Future Group, Merger, EasyDay hypermarkets, Rajan Bharti Mittal, Ecommerce, Retail businesses, Big Bazaar, Bharti Enterprises, Aditya Birla Group, Pantaloons Fashion & Retail, Madura Garments, Aditya Birla Fashion & Retail
Saturday, 16 May 2015
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