Retail in Asia

In People

5 second generation Indian retail tycoons

In a country like India where business is still dominated by family-run enterprises, succession question about the next generation of tycoons are sure to emerge. Across the boardrooms of family-owned business in India, young leaders – most of whom are armed with a very high quality of education from outside India – are playing a proactive role in transforming some of the legendary enterprises in India. While some from this younger generation are scratching new surfaces to take conglomerates into uncharted territories, others are redefining processes and operations to keep the business integrity intact but making them future-ready. SEE ALSO: India’s 10 most expensive retail locations Here are 5 scions of top industrialist families who are marking their presence felt in today’s retail environment with their new ideas:

1) Ashni Biyani, Chief Ideator at Future Adeas

ashni-bivani She is the daughter of Kishore Biyani – one of India’s organised retail pioneers – and the insights and design arm of Future Group. At Future Ideas, Ashni leads a team that understands nuances of Indian consumers and maps behavioural shifts of consumers and communities.

2) Avni Biyani, Concept Head, Foodhall

aschni-bivani She is the younger daughter of Future Group founder. Unlike the Biyani offerings,  Foodhall is India’s premium lifestyle gourmet store. A graduate of New York University’s College of Art & Science, Avni has specialised in sociology and politics. Apart from her interest in liberal arts and humanities, she is a connoisseur of food  and global cuisine.

3) Isha Ambani, Director at Reliance Jio Infocomm and Reliance Retail Ventures

The 24-year-old Ambani, is the daughter of Reliance Industries Chairman Mukesh Ambani. She was featured in the Forbes list of Asia’s Power Businesswomen 2015. The Ambani’s daughter is also the person behind the launch of Reliance e-commerce venture

4) Ananya Birla, CEO CuroCarte

Ananya Birla, the 22-year-old daughter of Kumar Mangalam Birla, the country’s eighth richest man, announced the launch of her second venture CuroCarte, an inventory-based global luxury ecommerce platform, in September this year. In addition, Ananya has also co-founded Mpower, an awareness initiative that works towards eliminating the stigma associated with mental health illnesses.

5) Shashwat Goenka, Sector Head, Spencer’s Retail Limited, RP-Sanjiv Goenka Group

He is the son of business tycoon Sanjiv Goenka, Chairman RP-Sanjiv Goenka Group. In 2013, Goenka was given the responsibility to take over Spencer’s Retail by his father. While the company reported losses of R164.5 crore the year he took over, revenues, have grown to Rs 1,671.9 crore in FY2015 from Rs 1,347 crore.