Pantaloon Forays into Insurance - ICMR Case Studies and Management Resources

Details

Case Code : CLBS074
Publication date : 2009
Subject : Business Strategy
Industry : Retailing
Length : 03 Pages
Price : Rs. 100

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Key words:

Pantaloon Retail, Generali group, insurance, Future Generali, venture, Insurance Regulatory and Development Authority of India, IRDA, savings ratio, diversification strategy, Future Retail, Future Capital, Future Brands, Future Space, Future Media, Future Logistics, asset management, investment, distribution network, retail chain, distribution channel, Tata Group, Birlas, and Reliance Industries, e-retail portal, futurebazaar.com, Gross domestic product

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Abstract:

This business update discusses about Pantaloon's foray into the insurance industry by forming a joint venture with Italy based Generali. As part of its diversification strategy, Pantaloon restructured itself as Future Group from Pantaloon Knowledge Group. Pantaloon planned to operate its insurance business with its financial arm, Future Capital. Generali aimed to leverage on Pantaloon's retail strength. Pantaloon also had plans to launch an e-portal, futurebazaar.com as part of its retailing strategy.

Introduction

Pantaloon Retail establishes a Joint Venture with Italy's Generali Group to target the Indian insurance sector.

On May 23, 2006, Pantaloon Retail (India) Limited (Pantaloon) announced its plans to form a joint venture (JV) with Italy based Generali Group (Generali) to tap the insurance sector in India.

The venture would be called 'Future Generali' and would be headquartered in Mumbai. Generali would have a 26% stake in the venture. The venture was expected to offer both life and non-life insurance products.

The proposed JV had yet to receive approval from the Insurance Regulatory and Development Authority of India (IRDA). It was reported that Pantaloon would invest Rs 250 million in the JV...

Pantaloon Forays into Insurance*