Radhakrishnan to head KB's Fairprice

Radhakrishnan was CEO value retail business at Reliance Retail before joining Future group three years ago

Future Group founder Kishore Biyani has promoted the group’s fresh foods division head, K Radhakrishnan, as the chief executive officer  (CEO) of neighbourhood store chain KB’s Fairprice. Radhakrishnan replaces Damodar Mall, who is moving to Reliance Retail.

Incidentally, Radhakrishnan was CEO of the value retail business of Reliance Retail before joining Future Group three years ago. ‘Radha’, as he is called, will spearhead the expansion of KB’s Fairprice from 200 stores to 1,000 in Delhi, Mumbai and Bangalore, Biyani wrote in a mail to his employees on Saturday. Radhakrishnan is also likely to continue in his role as president, Future Farmfresh (FFL). The group is rapidly expanding this chain through franchisee network. It has also become a platform to sell its own brands and is looking at a break-even soon.

“With the size and scale that Radha has the mandate to develop, we believe it will help us create a modern retail business that will be just as influential as Big Bazaar. In addition, we believe KB’s Fairprice will be the key channel and catalyst for the growth of company-owned FMCG brands and help make Future Consumer Enterprises among the leading FMCG (fast-moving+ consumer goods) companies in the country,” Biyani said in the mail.

When contacted, Radhakrishnan said: “It is a larger assignment for me. My focus is on customising stores to local neighbourhoods and driving efficiencies in the supply chain.”

A three-decade veteran in retail and consumer goods, Radhakrishnan has worked at Parle Agro and Foodworld in senior positions.