Sure, Kishore Biyani is one of the wealthiest businessmen alive. The founder of consumer and retail major Future Group was among the few to sense the huge opportunity in India's retail sector, which at present is worth $710 billion (about Rs 49 lakh crore).

That doesn’t mean he knows everything though. Everyone has something left to learn and for the 57-year old Biyani, it appears that lesson came from no other than his two daughters, Ashni and Avni.

In an interview with CNBC-TV18, Biyani, who is referred to as India’s Sam Walton, the founder of Walmart, shared what he believes is the best way to work with the younger generation.

"For me, I think my elder daughter is my advisor in terms of whatever I do. The younger daughter, I learn all the food trends and what is happening around in the younger generation as such. So, I think both of them tell me every day something which I learn," Biyani said in an interview that aired on April 8, 2015.

Biyani's older daughter Ashni is a textile design graduate from Parsons School of Design in New York and is the managing director of Future Consumer.

She is married to Viraj Didwania, Vedanta Group chairman Anil Agarwal's nephew.

"Elder one has been my advisor. She knows everything what I am up to, we are in touch on a day-to-day basis around business, gossip around business, lot of juicy things about businesses, and the people who work with us," said India’s retail czar.

The youngest Avni Biyani, an entrepreneur, joined the premium lifestyle food store chain Foodhall as the Concept Head and has been serving in that capacity since then.

"I think younger daughter runs a concept called Foodhall and she works quite independently, she has a mind of her own. She refers to me whenever she has a problem, so, I am her problem solver. Whenever she is looking at doing something new, she will bounce the idea with me," said Kishore Biyani.

Avni, 28, graduated in Sociology and Politics from New York University (NYU) in 2011. She developed an interest in food after she attended a few culinary classes while in NYU.

However, she says that she learned the most about the sector during the time between the first Foodhall and the opening of the second one. She got engaged to New York banker Rahul Jain last year.

Biyani has also drawn inspiration from entrepreneurs like Dhirubhai Ambani, the founder of Reliance Industries, and Walmart's Sam Walton.

"I think Dhirubhai Ambani for a sheer passion for growth and being fearless. I think Sam Walton for I think being a retailer by heart, mind, and everything," he said.

Biyani said he was inspired a lot by Sam Walton’s biography, Made in America, which he admitted reading at least 10 times.

"I think the biggest thing I remember about Sam Walton book was, you have to get your merchandising right, and the operations can follow later," said Biyani, who has seen several ups and downs in the last two decades.

Burdened with heavy debt, Biyani sold Pantaloons to Aditya Birla Group and focussed on his flagship format Big Bazaar.

Future Group at present sells about 300 million garments every year, making it the largest fashion retailer in the country. The group includes hypermarket chain Big Bazaar, food retailer Food Hall and convenience store chain EasyDay.

First Published:Jun 20, 2019 10:35 AM IST