Kishore Biyani built a retail empire spanning supermarkets and department stores under Future Group. While that collapsed in the wake of Covid-19 pandemic, it hasn't stopped the new generation of Biyanis from experimenting in retail. Kishore's nephew Vivek Biyani has launched a new experiential departmental store format called Broadway.
Along with Vivek, actor and entrepreneur Rana Daggubati, Salarpuria Group's Apurva Salarpuria and Anuj Kejriwal, the MD and CEO of consulting firm Anarock Retail are partners in Broadway. They refused to share investment-related details.
Spread across 25,000-35,000 square feet, Broadway outlets will feature a staging area, a creator’s studio, sampling stations, consultation rooms, a dry salon, gourmet experiences etc, in addition to the shopping space.
There will be an in-house studio for creators to collaborate with brands to generate content and create programmes targeting consumers.
"We do feel that retail needs to be reinvented. If you look at the model of Broadway, its not about you coming and participating in a retail environment. We are doing events and experiences over there, building content, you are getting an experience with a creator economy...," said Vivek. There will be a participation fee, which brands will pay.
The company hopes to work with over a 100 new age and direct-to-consumer brands spread across categories like beauty, personal care, health and wellness, fashion and accessories. Some of the brands include Aqualogica, DermaCo, Minimalist, Belif, Wellbeing Nutrition, Kapiva, Oziva, The Good Bug, Comet, Suta, Mokobara, trueBrowns, Bold Care, The Label Life.
Food and beverage will also be a key part of Broadway. "Broadway offers seamless integration of content and commerce supported by calender full of exciting events and collaborations, whether it's live workshops or exclusive product launches," noted Daggubati.
The first Broadway store is expected to open in Delhi in August this year, followed by a store in Hyderabad in September and then in Mumbai next year in March. The Delhi store is expected to have around 125 brands.
Delhi, Hyderabad and Mumbai could have more Broadway outlets opening over time and the company will also look at other major cities like Bengaluru, Chennai and Ahmedabad to expand, according to Anarock's Kejriwal. "Over the next 2-3 years, we will be probably seeing penetration in top ten cities in India," he said.
