The Times of India News App for Latest Business News, Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. Now Biyani, who was among India’s richest in 2019 with a family fortune of close to $1.8 billion, is struggling to keep his supermarket empire afloat. This will alert our moderators to take action. Your Reason has been Reported to the admin. Popularly known as KB, he is the man who triggered the concept of retail supermarkets in India like Big Bazaar, Pantaloon, Mega Mart and Bangalore Central. Kishore Biyani comes from a family that has been involved in business since the time of his grandfather, who opened a clothes shop in what was then called Bombay after moving there from the village of Nimbi Jodha in Rajasthan. Access the exclusive Economic Times stories, Editorial and Expert opinion, Sharp Insight-rich, Indepth stories across 20+ sectors. Following above you will read today success story of Mr. Kishore Biyani : A true Indian retail czar, Kishore Biyani is the Group CEO of Future Group and Managing Director of Pantaloon Retail. Choose your reason below and click on the Report button. The Times of India citing sources mentioned in a report that Rakesh Biyani's name has been ommitted from the non-compete agreement. Rakesh, who runs a chain of ethnic wear stores under the brand name of … The net worth of Kishore Biyani and his family is down to less than a third of what it was about a year ago. Kishore Biyani and his family has a 15-year non-compete agreement with Reliance Industries as part of its deal to sale its wholesale and retail assets to Reliance Retail Ventures for around Rs 24,700 crore. ", says an insider at the erstwhile Future Group. Print. Bloomberg Last Updated: Mar 26, 2020, 07:26 AM IST. Family: Father- Kishore Biyani (Future Group’s founder) Mother- Sangita Rathi Brother- Not Known Sister- Avni: Religion: Hinduism: Caste: Vaishya (Marwari) Hobbies: Painting, Reading, Listening to Music, Travelling: Boys, Affairs and More: Marital Status: Married: Affairs/Boyfriends: Not Known: Husband/Spouse: Viraj Didwania (Vedanta Group chairman, Anil Agarwal’s nephew) For reprint rights: Times Syndication Service, NEW DELHI: At a time when India Inc has written off Future Group promoter, Kishore’s cousin may script retail re-entry of Biyanis, Kishore (left) and Rakesh Biyani (File photo), Govt approves merger of Lakshmi Vilas Bank with DBS India, National retail policy: Starting businesses to get easier soon, Tesla set to build 'world's largest' battery plant in Germany, As economy opens up, job market shows recovery in September: Study, 7 Skincare and beauty products that are worth giving a shot, Terms of Use and Grievance Redressal Policy. New Delhi | Mumbai: Kishore Biyani and his family members are barred from re-entering the retail space for the next 15 years under a non-compete clause as part of Reliance Retail ’s buyout of Future Group ’s assets, said two people with knowledge of the matter. He has said that "I spent the better part of the day outside college with friends, wandering aro… Kishore Biyani and his family members are not allowed to re-enter the retail segment for the coming 15 years as part of a non-compete clause after … Abc Large. Font Size. Abc Medium. A spokesman for Future Group and the Biyani family declined to comment. New Delhi: Rakesh Biyani, Kishore Biyani's cousin and the MD of Future Retail, could very well pave the way for the Biyani family's re-entry into the organised retail sector in India.Kishore Biyani and his family has a 15-year non-compete agreement with Reliance Industries as part of its deal to sale its wholesale and retail assets to Reliance Retail Ventures for around Rs 24,700 crore.