Rising rentals and wage costs mount pressure on retail
Kishore Biyani, the CEO of Future Group, may have scripted the biggest Indian retail success story, but as rising rentals and wage costs have impact on his business as well, Biyani is now back to the drawing board, exiting smaller formats to plug losses."We are reviewing the performance of small formats. Correction will happen in this space, for example our lingerie store is seeing exits, a 15% exit from mall in a year is going to be normal in retail," said Kishore Biyani ,CEO,Future Group.
