Pandemic shock forced me to exit retail biz: Future Group founder Biyani

Future Group founder says lost about Rs 7,000-crore revenue in 3-4 months; he would now 'think small' and focus on becoming digital-first

Future Group founder Kishore Biyani, 59, is known for his candid views on life as an entrepreneur. On Wednesday, he made his first public appearance since selling his retail assets to Reliance, admitting he had no option but to exit the business in the face of mounting debt and revenue loss triggered by the Covid-19 pandemic and lockdown. 

"We got into a trap with Covid-19. Never did I imagine that our stores would be closed for 3-4 months at a stretch, but it happened. We lost Rs 7,000 crore of revenue in the first 3-4 months. Rent and interest did not