Future Retail, India’s largest retail house, is feeling the heat from the likes of Reliance, Bharti-Wal-Mart and AV Birla group, and is said to be in the middle of a huge a restructuring exercise.
Rakesh Biyani will head the retail business, earlier looked after by his cousin Kishore Biyani. Rakesh Biyani will look after formats like Food Bazaar, Central and Pantaloon and Big Bazaar. These formats will be independent profit centres, with new operational and finance heads at the helm.
Other business like Wholesale Club, Home Solutions, future joint ventures and alliances, and Depot are going to be under Damodar Mall. He will also be the head of incubation and innovation and would report directly to Kishore Biyani. Sources have confirmed that the company will also have three separate lines of business — food, apparel and general merchandise, which will work across the four formats.