MUMBAI’S Heritage Stores
From humble beginnings to making their mark on the fashion scene in the financial capital of India, these heritage stores continue to enjoy a loyal following. They have kept pace and now boast of a plethora of premium, high-end national as well as international labels under one roof. Meher Castelino takes a closer look at the growth curve of seven such stores.
AkbarallysSome of them have been around for over a century and they are still very much on the retail scene. They are family-run but are not the conventional ‘mom and pop’ stores. They are moving with the times and making sure that their products match the fashion scene. When Akbarallys was established in 1897 on Dadabhoy Naoroji road, it followed the pattern of British-run stores in Mumbai like Whiteway Laidlow, Evans Fraser, Hall and Anderson, and Army and Navy which closed down after the British left India. The Khorakiwala brothers–Fakhurddin, Shafakathussain, Saifuddin, and Hussein turned a small retail store into one of the most famous department stores in Mumbai when it moved to the busy commercial area of Flora Fountain in 1956. It was quite an event as Akbarallys was a huge 10,000 sq ft department store that sold everything from clothes to household goods, jewellery, food, confectionery, cosmetics and assorted items. Soon, branches opened in Santa Cruz and Chembur and in no time, Akbarallys became the breeding ground of top brands like Double Bull, Biba, and Naseem Creations, which went on to become top national apparel brands. But in 2010, the Akbarallys chain which had spawned several businesses like Monginis, Wockhardt, Biostadts, and Switz for the family has decreased to its one flagship store at Flora Fountain. The store is now being handled by the third generation executive director, 31-year-old Haani J Khorakiwala, who hopes to revive the store to its past glory with very intense renovations to give the brand a 21st century image and the Convenio store at Breach Candy in the Indian Oil Petrol Pump a trendy look. Khorakiwala, a BS in Managerial Economics, Carnegie Mellon University, Pittsburgh and an MS in Textile Development and Marketing, Fashion Institute of Technology, New York, was a fashion designer with her own label till she took over the reins of the company in April 2009 from her father, Juzer Saifuddhin Khorakiwala, chairman and managing director of Biostadt India Ltd.Khorakiwala feels the decline of Akbarallys was due to lack of involvement of the younger generation. “There was no expansion and we kept to just three stores. Expansion did happen in the food section. However, while we had eleven Convenios at one point, now we are down to one. We realised it was not viable and got out of it fast. When multibrand outlets like Shoppers Stop came in the 90s, we did not expand. Right now we are in a flux. We are renovating the entire top floor of the store and this will be done phase wise. We will remain a department store with everything, as we do not want to change it and the focus is on products and price and our consumer level will be the mid to upper middle class in south Mumbai for household goods, apparel etc. Akbarallys is the best in this segment and we will stay in the niche non-branded section.”Khorakiwala admits that Akbarallys had a good run in the 70s when there was no organised retail except their store. Now it is very competitive and people are price conscious. “As I see it, am I going to cater to a bargain hunter who will go to Apka Bazaar or a customer who knows the price and what they are getting. For me it is the latter who is discerning and my customer,” she says. The store has not focused on advertising for the past two years, since they have not had anything exciting to tell. But when the renovated Akbarallys opens by the end of the year, Khorakiwala plans to spend 5 per cent of the turnover on marketing and advertising. “Akbarallys is a set business and the 70s, 80s, and 90s were great for the store. Then, it leveled off,”she adds.Keeping the Akbarallys name alive is on Khorakiwala’s agenda. She plans to expand the stores, but in a systematic manner. “I could franchise the name and it could work but do we have the infrastructure to do it, is the question, so a more systematic approach in a phased manner will work. The first priority is to complete the revamping of the store. We are going to be a niche player. We don’t want to compare ourselves with others; we want to be product-oriented. Our brands right now are well established but if we have to be a niche player, then we should have something unique to sell, source out or create new products. We have our inhouse brand called Troika which is into menswear and kitchen ware, which are our bestselling departments.”Khorakiwala would like to bring in designer labels as the store had done in the past, but it also depends on designers and what format they want. “If it is a multi store one, then Akbarallys is not the one. But for a niche designer, we are perfect as we have captive customers who haven’t changed.”With young ideas and plans being infused into Akbarallys, Khorakiwala is all set to give the store the profile it needs to project to its customers and for the repertoire once enjoyed. MUMBAI’S Heritage Stores
From humble beginnings to making their mark on the fashion scene in the financial capital of India, these heritage stores continue to enjoy a loyal following. They have kept pace and now boast of a plethora of premium, high-end national as well as international labels under one roof. Meher Castelino takes a closer look at the growth curve of seven such stores.
AkbarallysSome of them have been around for over a century and they are still very much on the retail scene. They are family-run but are not the conventional ‘mom and pop’ stores. They are moving with the times and making sure that their products match the fashion scene. When Akbarallys was established in 1897 on Dadabhoy Naoroji road, it followed the pattern of British-run stores in Mumbai like Whiteway Laidlow, Evans Fraser, Hall and Anderson, and Army and Navy which closed down after the British left India. The Khorakiwala brothers–Fakhurddin, Shafakathussain, Saifuddin, and Hussein turned a small retail store into one of the most famous department stores in Mumbai when it moved to the busy commercial area of Flora Fountain in 1956. It was quite an event as Akbarallys was a huge 10,000 sq ft department store that sold everything from clothes to household goods, jewellery, food, confectionery, cosmetics and assorted items. Soon, branches opened in Santa Cruz and Chembur and in no time, Akbarallys became the breeding ground of top brands like Double Bull, Biba, and Naseem Creations, which went on to become top national apparel brands. But in 2010, the Akbarallys chain which had spawned several businesses like Monginis, Wockhardt, Biostadts, and Switz for the family has decreased to its one flagship store at Flora Fountain. The store is now being handled by the third generation executive director, 31-year-old Haani J Khorakiwala, who hopes to revive the store to its past glory with very intense renovations to give the brand a 21st century image and the Convenio store at Breach Candy in the Indian Oil Petrol Pump a trendy look. Khorakiwala, a BS in Managerial Economics, Carnegie Mellon University, Pittsburgh and an MS in Textile Development and Marketing, Fashion Institute of Technology, New York, was a fashion designer with her own label till she took over the reins of the company in April 2009 from her father, Juzer Saifuddhin Khorakiwala, chairman and managing director of Biostadt India Ltd.Khorakiwala feels the decline of Akbarallys was due to lack of involvement of the younger generation. “There was no expansion and we kept to just three stores. Expansion did happen in the food section. However, while we had eleven Convenios at one point, now we are down to one. We realised it was not viable and got out of it fast. When multibrand outlets like Shoppers Stop came in the 90s, we did not expand. Right now we are in a flux. We are renovating the entire top floor of the store and this will be done phase wise. We will remain a department store with everything, as we do not want to change it and the focus is on products and price and our consumer level will be the mid to upper middle class in south Mumbai for household goods, apparel etc. Akbarallys is the best in this segment and we will stay in the niche non-branded section.”Khorakiwala admits that Akbarallys had a good run in the 70s when there was no organised retail except their store. Now it is very competitive and people are price conscious. “As I see it, am I going to cater to a bargain hunter who will go to Apka Bazaar or a customer who knows the price and what they are getting. For me it is the latter who is discerning and my customer,” she says. The store has not focused on advertising for the past two years, since they have not had anything exciting to tell. But when the renovated Akbarallys opens by the end of the year, Khorakiwala plans to spend 5 per cent of the turnover on marketing and advertising. “Akbarallys is a set business and the 70s, 80s, and 90s were great for the store. Then, it leveled off,”she adds.Keeping the Akbarallys name alive is on Khorakiwala’s agenda. She plans to expand the stores, but in a systematic manner. “I could franchise the name and it could work but do we have the infrastructure to do it, is the question, so a more systematic approach in a phased manner will work. The first priority is to complete the revamping of the store. We are going to be a niche player. We don’t want to compare ourselves with others; we want to be product-oriented. Our brands right now are well established but if we have to be a niche player, then we should have something unique to sell, source out or create new products. We have our inhouse brand called Troika which is into menswear and kitchen ware, which are our bestselling departments.”Khorakiwala would like to bring in designer labels as the store had done in the past, but it also depends on designers and what format they want. “If it is a multi store one, then Akbarallys is not the one. But for a niche designer, we are perfect as we have captive customers who haven’t changed.”With young ideas and plans being infused into Akbarallys, Khorakiwala is all set to give the store the profile it needs to project to its customers and for the repertoire once enjoyed.
From humble beginnings to making their mark on the fashion scene in the financial capital of India, these heritage stores continue to enjoy a loyal following. They have kept pace and now boast of a plethora of premium, high-end national as well as international labels under one roof. Meher Castelino takes a closer look at the growth curve of seven such stores.
AkbarallysSome of them have been around for over a century and they are still very much on the retail scene. They are family-run but are not the conventional ‘mom and pop’ stores. They are moving with the times and making sure that their products match the fashion scene. When Akbarallys was established in 1897 on Dadabhoy Naoroji road, it followed the pattern of British-run stores in Mumbai like Whiteway Laidlow, Evans Fraser, Hall and Anderson, and Army and Navy which closed down after the British left India. The Khorakiwala brothers–Fakhurddin, Shafakathussain, Saifuddin, and Hussein turned a small retail store into one of the most famous department stores in Mumbai when it moved to the busy commercial area of Flora Fountain in 1956. It was quite an event as Akbarallys was a huge 10,000 sq ft department store that sold everything from clothes to household goods, jewellery, food, confectionery, cosmetics and assorted items. Soon, branches opened in Santa Cruz and Chembur and in no time, Akbarallys became the breeding ground of top brands like Double Bull, Biba, and Naseem Creations, which went on to become top national apparel brands. But in 2010, the Akbarallys chain which had spawned several businesses like Monginis, Wockhardt, Biostadts, and Switz for the family has decreased to its one flagship store at Flora Fountain. The store is now being handled by the third generation executive director, 31-year-old Haani J Khorakiwala, who hopes to revive the store to its past glory with very intense renovations to give the brand a 21st century image and the Convenio store at Breach Candy in the Indian Oil Petrol Pump a trendy look. Khorakiwala, a BS in Managerial Economics, Carnegie Mellon University, Pittsburgh and an MS in Textile Development and Marketing, Fashion Institute of Technology, New York, was a fashion designer with her own label till she took over the reins of the company in April 2009 from her father, Juzer Saifuddhin Khorakiwala, chairman and managing director of Biostadt India Ltd.Khorakiwala feels the decline of Akbarallys was due to lack of involvement of the younger generation. “There was no expansion and we kept to just three stores. Expansion did happen in the food section. However, while we had eleven Convenios at one point, now we are down to one. We realised it was not viable and got out of it fast. When multibrand outlets like Shoppers Stop came in the 90s, we did not expand. Right now we are in a flux. We are renovating the entire top floor of the store and this will be done phase wise. We will remain a department store with everything, as we do not want to change it and the focus is on products and price and our consumer level will be the mid to upper middle class in south Mumbai for household goods, apparel etc. Akbarallys is the best in this segment and we will stay in the niche non-branded section.”Khorakiwala admits that Akbarallys had a good run in the 70s when there was no organised retail except their store. Now it is very competitive and people are price conscious. “As I see it, am I going to cater to a bargain hunter who will go to Apka Bazaar or a customer who knows the price and what they are getting. For me it is the latter who is discerning and my customer,” she says. The store has not focused on advertising for the past two years, since they have not had anything exciting to tell. But when the renovated Akbarallys opens by the end of the year, Khorakiwala plans to spend 5 per cent of the turnover on marketing and advertising. “Akbarallys is a set business and the 70s, 80s, and 90s were great for the store. Then, it leveled off,”she adds.Keeping the Akbarallys name alive is on Khorakiwala’s agenda. She plans to expand the stores, but in a systematic manner. “I could franchise the name and it could work but do we have the infrastructure to do it, is the question, so a more systematic approach in a phased manner will work. The first priority is to complete the revamping of the store. We are going to be a niche player. We don’t want to compare ourselves with others; we want to be product-oriented. Our brands right now are well established but if we have to be a niche player, then we should have something unique to sell, source out or create new products. We have our inhouse brand called Troika which is into menswear and kitchen ware, which are our bestselling departments.”Khorakiwala would like to bring in designer labels as the store had done in the past, but it also depends on designers and what format they want. “If it is a multi store one, then Akbarallys is not the one. But for a niche designer, we are perfect as we have captive customers who haven’t changed.”With young ideas and plans being infused into Akbarallys, Khorakiwala is all set to give the store the profile it needs to project to its customers and for the repertoire once enjoyed. MUMBAI’S Heritage Stores
From humble beginnings to making their mark on the fashion scene in the financial capital of India, these heritage stores continue to enjoy a loyal following. They have kept pace and now boast of a plethora of premium, high-end national as well as international labels under one roof. Meher Castelino takes a closer look at the growth curve of seven such stores.
AkbarallysSome of them have been around for over a century and they are still very much on the retail scene. They are family-run but are not the conventional ‘mom and pop’ stores. They are moving with the times and making sure that their products match the fashion scene. When Akbarallys was established in 1897 on Dadabhoy Naoroji road, it followed the pattern of British-run stores in Mumbai like Whiteway Laidlow, Evans Fraser, Hall and Anderson, and Army and Navy which closed down after the British left India. The Khorakiwala brothers–Fakhurddin, Shafakathussain, Saifuddin, and Hussein turned a small retail store into one of the most famous department stores in Mumbai when it moved to the busy commercial area of Flora Fountain in 1956. It was quite an event as Akbarallys was a huge 10,000 sq ft department store that sold everything from clothes to household goods, jewellery, food, confectionery, cosmetics and assorted items. Soon, branches opened in Santa Cruz and Chembur and in no time, Akbarallys became the breeding ground of top brands like Double Bull, Biba, and Naseem Creations, which went on to become top national apparel brands. But in 2010, the Akbarallys chain which had spawned several businesses like Monginis, Wockhardt, Biostadts, and Switz for the family has decreased to its one flagship store at Flora Fountain. The store is now being handled by the third generation executive director, 31-year-old Haani J Khorakiwala, who hopes to revive the store to its past glory with very intense renovations to give the brand a 21st century image and the Convenio store at Breach Candy in the Indian Oil Petrol Pump a trendy look. Khorakiwala, a BS in Managerial Economics, Carnegie Mellon University, Pittsburgh and an MS in Textile Development and Marketing, Fashion Institute of Technology, New York, was a fashion designer with her own label till she took over the reins of the company in April 2009 from her father, Juzer Saifuddhin Khorakiwala, chairman and managing director of Biostadt India Ltd.Khorakiwala feels the decline of Akbarallys was due to lack of involvement of the younger generation. “There was no expansion and we kept to just three stores. Expansion did happen in the food section. However, while we had eleven Convenios at one point, now we are down to one. We realised it was not viable and got out of it fast. When multibrand outlets like Shoppers Stop came in the 90s, we did not expand. Right now we are in a flux. We are renovating the entire top floor of the store and this will be done phase wise. We will remain a department store with everything, as we do not want to change it and the focus is on products and price and our consumer level will be the mid to upper middle class in south Mumbai for household goods, apparel etc. Akbarallys is the best in this segment and we will stay in the niche non-branded section.”Khorakiwala admits that Akbarallys had a good run in the 70s when there was no organised retail except their store. Now it is very competitive and people are price conscious. “As I see it, am I going to cater to a bargain hunter who will go to Apka Bazaar or a customer who knows the price and what they are getting. For me it is the latter who is discerning and my customer,” she says. The store has not focused on advertising for the past two years, since they have not had anything exciting to tell. But when the renovated Akbarallys opens by the end of the year, Khorakiwala plans to spend 5 per cent of the turnover on marketing and advertising. “Akbarallys is a set business and the 70s, 80s, and 90s were great for the store. Then, it leveled off,”she adds.Keeping the Akbarallys name alive is on Khorakiwala’s agenda. She plans to expand the stores, but in a systematic manner. “I could franchise the name and it could work but do we have the infrastructure to do it, is the question, so a more systematic approach in a phased manner will work. The first priority is to complete the revamping of the store. We are going to be a niche player. We don’t want to compare ourselves with others; we want to be product-oriented. Our brands right now are well established but if we have to be a niche player, then we should have something unique to sell, source out or create new products. We have our inhouse brand called Troika which is into menswear and kitchen ware, which are our bestselling departments.”Khorakiwala would like to bring in designer labels as the store had done in the past, but it also depends on designers and what format they want. “If it is a multi store one, then Akbarallys is not the one. But for a niche designer, we are perfect as we have captive customers who haven’t changed.”With young ideas and plans being infused into Akbarallys, Khorakiwala is all set to give the store the profile it needs to project to its customers and for the repertoire once enjoyed.
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