The list did not stop there. Akbarally's was the first store to introduce the concept of gift vouchers and wedding gift vouchers. Innovations like these made Akbarally's the favourite shopping destination for people in Mumbai. The product portfolio was always big enough – from apparels and accessories, to electronic appliances, gift articles and stationery, to personalised service like delivering special notes/gifts/flowers on request.

Eight years back, Akbarally's launched their in-house brand Troica. With a range of offering for men's apparel, the brand earlier did face some hurdles to gain acceptance. Says Khorakiwala, “When we launched Troica, it was generating just 2 per cent from the total sale of men's apparel. Today, the brand has grown by 50 per cent, and we are very proud of this. Troica is available only at Akbarally's and not marketed through other stores.” The Troica brand includes shirts, belts, handkerchiefs, underwear and ties for men. Everything under Troica is outsourced. Says Khorakiwala, “Though we outsource, the quality is at par with any of the international brands available. Since we do not spend on advertising on the brand, the benefit is passed to our customers whereby the brand is available at half the price as against any other brands.”

Apart from apparels, Troica also offers kitchenware. “We are in the process of phasing out the larger electronic appliances available here and expand Troica further.” Talking about another hot-selling item at Akbarally's, Khorakiwala adds, “Our concept of gift vouchers generates good business during the festive season. In fact, 70 per cent of our sale with regards to gift vouchers happens during Diwali, with corporate houses buying in bulk.”

Says Khorakiwala, “Till 1992, we had absolutely no competition. It was considered to be a status symbol to shop at Akbarally's. With the mall culture setting in, we slowly lost our popularity. The younger population today does not remember Akbarally's; they are more inclined towards shopping at malls because of the ambience and also the variety offered. Expansion with Akbarally's did not happen as expected simply because I was running short of human resources. At present, we have just three stores in Mumbai and we are looking at setting one in Hyderabad very soon. An interesting concept we have introduced is that of setting up convenient stores at petrol pumps – these are like mini-supermarkets. Branded as Convenio, these stores are doing very well. Currently, we have four of these in Mumbai, but we will soon be expanding their reach.”

The turnover of Akbarally's last year was approximately Rs 25 crore. “What we need to do is invest in more brand-building exercises. Currently, we spend on an average around 2 per cent of our annual turnover on advertising.”

Although Akbarally's has been a pioneer, today it is screaming for attention to regain its popularity. Khorakiwala has been doing his best to keep the store in line with its principle of trust. Now, an infusion of some young blood along with his valuable experience will do the brand a whole lot of good. – Zainab Morbiwala