Made in Madras 2025

On 4 June 2001, I formally began my first job as a Retail Management Trainee with India’s first organised retail chain, the RPG Group. 

On the first day at work, I recall vividly riding in my humble TVS Max 100 R motorcycle from home to Spencers Plaza, where the HQ was located. 

I had been there before, countless times, but as an onlooker, as a consumer business enthusiast and a window shopper at best. Little did I know, that I would end up working in the same building one day.

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25 years later, on 31 Aug. ’25, I had the chance to host an interesting evening with a handful of doyens of the Indian Retail Industry’s eponymous journey – spanning as late as 1859.

Miles2Go Consulting Services, the Management Advisory firm that I founded in 2014, hosted its first ever event on Retail, as well as to celebrate “Madras Day” – the date of 22 Aug. when the city of Madras was officially created.

What began as a seed of an idea, grew into a full-fledged, power packed event, with 8 powerful speakers spanning over 150 mins, with just 3 weeks of preparation.

Mr.Mahalingam Balasubramaniam and Ashwin Balasubramaniam, Directors of Mangathirth Estates, the promoters of Spencers Plaza spoke about the glory of the place and how it all started.

The connection between Retailing and the erstwhile Madras that is called Chennai today, dates back almost two centuries behind us.

The first ever full-fledged Department Store – “Spencers”, offering Food & Grocery products once upon a time stood here – where the mall is now located, as early as 1859. 

This was a time when the gloried Harrods was not even in existence in London, the seat of the Queen and the East India Company!

Mr. Balasubramaniam spoke about how the mall was once upon a time, the largest building in India and was also the largest mall in all of Asia, during the late 90s.

In the next session, Mafoi Mr. K. Pandiarajan, Chairman & Managing Director CIEL HR, spoke about the hiring trends during the 90s and early 2000s in a candid chat with Prof. Giridhar Ramachandran, Ph. D., Associate Dean at XLRI Jamshedpur. 

He also stressed about the great opportunity ahead of us for young professionals in the Indian Retail Industry.

During the Panel Discussion about the great transition of retailers and customers from the 20th Century Madras to 21st Century Chennai, Ms. Thangamalar Jaganath, Managing Partner, Vasanth & Co., spoke in detail about her Late father, Mr. Vasanth, the founder of the Consumer Durables chain and the discipline that he instilled and the processes he brought in to the business, due to which the company has not just scaled over the years, but also grown leaps and bounds.

Mr. Harris Abdulla MK, the Founder of Fruit Shop on Greams Road shared about the first organised and formal juice shop of Madras during the early 90s, the hardships that he faced and what it was to convince consumers to pay for high quality, fresh fruit juices.

Mr. Balachander R, Director of the Biriyani chain Junior Kupanna spoke about team management, retaining and hiring staff, ensuring operational SoPs and most importantly, how Chennai remains the Biriyani Capital of India.

In the final session of the day, a tetè-á-tete with MS Bharath, Lawyer, Supreme Court of India and Founder, KRIA Law, Vummidi Mr. Balaji, Managing Partner of VBC Jewellery spoke about transitioning legacy over 125 years, ever since the Vummidi House of Jewellery came in to existence in the year 1900. 

In the grand finale of his chat, he spoke about how the glory of the SENGOL was discovered by well wishers two years ago, the interesting tid-bit that was passed on to the Hon’ble Prime Minister of India and eventually, the new Sengol – a device passed on from one ruler to the other during the days of the Chola reign in Southern India – was placed at the new Parliament building in New Delhi last year.

We were humbled and honoured to present our first “Lifetime Achievement Award” to the House of Vummidi at this event, as a mark of respect to salute the brand which has been a stupendous inspiration for over 4 generations of entrepreneurs. 

It was a momentous occassion for me, even as I stood in surprise, silence and satisfaction that a young boy who went about buying his first ever pair of denims from the Levis Store that once operated from this mall, with money earned from part-time gigs during the college days of 90s, was now grown up enough professionally to organise such an event of yore!

Interestingly, not only my first professional role, managing operations at RPG Retail’s Musicworld Kolkata & later at Foodworld stores across Chennai originated here, but also the interview and the confirmation for my second job with Pantaloon Retail (later The Future Group) also happened at the same building at the Pantaloons Store.

As I always say, even as I germinated in my mother’s womb over 4 decades back, my professional life began at Spencers Plaza, which for me is as sacred.

Cannot thank my Almighty, my parents, my family, my friends, former and current professional colleagues and well-wishers, without who’s support I would not have been standing on this stage today to celebrate Retail and my lovely city, Madras aka Chennai.

I would like to sincerely thank M/s Mangalthirth Estates, BESPOKE, a premium gent’s salon from Naturals, Brown Tree, Kesar Gifts, IBC Tamil and KRIA Law for their unstinted support in conducting this event. A special mention to all the staff of M/s Mangalthirth who gave their best for the sake of the event’s success. 

This is the first of many more events to come. 

Do visit www.MilestoGo.in, even as we aspire to become the first ever Management Consulting Firm in India to go public by 2030. 

We have, after all, Miles to Go…

Happy Birthday Madras - the Retail capital of India

I have always argued that one of the reasons why the British traded with our country for a long time was our ethical business practices coupled with abundant natural resources which have been bestowed on our land for centuries. Tracing India's roots to King Ashoka's reign or to the fledgling empires of the Chola Dynasty, trade was a very important aspect of the way India has been governed. While the fabric of the Indian ecosystem, spread across the length and breadth of the sub-continent cannot be taken away, there is a strong link to the very first organised retail establishment which was set-up by the British towards the end of the 19th Century in the erstwhile Madras. 

The Spencer’s Store and Higginbothams Bookstore, which are still edifices on the city’s famed Mount Road are over a century old. The current structure of the book store, once eponymous with everything books and which boasted customers such as Clement Atlee, former British PM, Shri C. Rajagopalachari, the former Maharaja of Mysore among others, was rebuilt to suit the needs of a sprawling bookstore in 1904. Mr. Abel Joshua Higginbotham arrived first in the city in the early 1840s. Over time, he purchased the Weslyan Book Shop run by Protestant Missionaries in Madras and renamed it with his own. He was the Sheriff of Madras in 1888 and 1889. After his death in 1891, his son, CH Higginbotham ran the company from the turn of the century until 1925 when John Oakeshott Robinson purchased the company and ran it until India’s independence. Subsequently, it was acquired by the Amalgamations Group and is managed by them, till date. 

Spencer’s as we all know, was set-up in the city in 1863 by Mr. John William Spencer. In 1895, the then largest Department store in the continent with 80 departments was constructed and inaugurated to the use of public, mostly the British. The store had a large number of imported items which came in Ships from Britain and all over the world for the comfort and use of the Brits living in the Madras region, one of the largest and most important bases of the Queen’s Establishment. Over time, the company changed hands many times until it was acquired by ace Indian businessman RP Goenka in the 1980s. 

India’s first FDI in Retail was by the RPG Group with Dairy Farm International, Hong Kong in the mid-90s which lasted for a decade and a half. The first “Foodworld” store was set-up at RA Puram in Chennai where I was a Store Manager early in my career from 2002-2004. After the JV ended, the RPG Group (now RP-Sanjiv Goenka Group) renamed it as Spencers. The place where the first Department Store in India was established in the 19^th Century now houses the eponymous Spencers Plaza, which was rebuilt after a major fire in the 1980s. I have vivid memories of visiting the older plaza where a number of films have been shot at.

Pic Courtesy: Viveks.com

The city has many notable brands which are now popular not just in India but across the world, be it retail chains or FMCG Brands. Viveks & Co., one of the pioneers of Consumer Durables retailing, was set-up in the year 1965 at Mylapore, Madras. Giri Trading, a retail chain which specialises in selling Hindu spiritual & puja related products has an established presence in the US, the UK, Europe, Middle East, South East Asia and Australia. Ambika Appalams, a favourite snack food brand which has now grown to become a neighbourhood retail chain has fans and followers all over the world and exports their goods to over 50 countries worldwide. Butterfly Home appliances, a pioneer in kitchen related items and TTK Prestige, have a pan-India presence today with huge levels of customer interest online and offline. New age apparel brands like Basics Life and Indian Terrain have gained international acceptance of their designs and styles and have been well appreciated by western counterparts. On the food front, Hotel Saravana Bhavan was a must visit for those visiting the town, now replaced by Sangeethas and Adyar Anandha Bhavan. And on the entertainment front, Sathyam Cinemas was the first regional stand-alone multiplex chain to expand across the country. 

There are numerous examples of Retail glory that my Madras boasts of and I shall remain eternally grateful to the city which has given me an identity and beyond. 

HBD Madras. 

Can Malls resurrect?

I went to a once-upon-a-time popular Mall in Chennai a week back – to watch a movie at Inox. I went 10 mins before the show began; during the intermission, I bought a Samosa and Tea for Rs. 200 and left the venue just after the film ended. There was nothing for me in the mall to hang around. No coffee shops, interesting retail concepts, a poorly scattered food court and absolutely uninteresting Mall Management. The toilet was a saving grace, neat and clean as always. 

Chennai Citi Centre was one of the earliest new-age Malls in Chennai which opened almost a decade back. Compared to the previously popular and hugely successful Spencer’s Plaza, Citi Centre managed by the ETA Group preferred to lease retail spaces as against selling them like Spencer’s. The initial euphoria was huge – located on RK Salai leading to the world-famous Marina Beach and the road being used by two former Chief Ministers of Tamil Nadu viz., Dr. Karunanidhi and Dr. J Jayalalitha for their daily commute. The road was in its best form all these years with Traffic Police stationed all day and night as well as reasonably safe. The Mall opened with Chenai’s iconic Landmark Store, Lifestyle and Inox as anchors followed by Foodworld, Mc Donalds & KFC in the food court and roof top; a slew of national and international brands followed. The “Marina” food court had some interesting concepts offering a range of food and beverage options. Café Coffee Day was conspicuously missing inside. Instead, CCD opened a café right opposite the Mall which continues to be a crowd puller. The Atrium would be used for interesting events and activities.

A few years in to it’s bull run, Express Avenue Mall opened 3 kms away, followed by Phoenix Market City two years back. With a spread of no more than 2 lakh sq.ft for Retail and F&B, Inox Cinemas spread over 30,000 sft, private Office spaces spread over 20,00 sft. and two levels of basement Car Parking, the Mall had little to offer in terms of retail space. As always, Small is Beautiful. Plus, it had a great locational advantage. But the Mall Management let the mall die a slow death for reasons best known to them. Almost all the original Retailers have vacated but for Basics Life and Giordano apart from Lifestyle and Inox. I approached the Mall Management two years back and suggested we could do wonders with what we have on hand and give a run for money due to its locational advantage and easy access to South Madras. They refused to oblige and have remained adamant on letting the opportunity pass by. Even now, the mall is sitting on a gold mine, if only one could take a serious look at what could be done to make it great, once again. 

Citi Centre is not an isolated case. During the Mall boom in India between 2006 – 2012, about 800 Malls of all shapes and sizes were operational at its peak across India’s Top 50 cities & towns. Thanks to a slowing economy since 2013 onwards, uncertain consumer sentiment and tough business conditions, more than half of them have shut down or have morphed in to Office spaces. A recent research report suggested that the Mall vacancies have improved off late and over 80 Malls are expected to open in the next 24 months across India. As we speak about this, VR Chennai opened its doors to the city just a month ago, spread over a million sft. 

So what happens to these Malls which do not get the desired traffic (of customers) anymore? Many people compare this situation to the Ghost Malls in the US, which I believe is not fair. The Indian Economy continues to show strong signs but for some shortfalls here and there. Older Malls can be resurrected, if only the Mall Owners prefer to do so. In our country where most of the Malls are owned by Real Estate companies, their only focus is generating a certain “revenue” per sft. Taking an extra mile to get consumers walking in regularly and keeping them hooked – this is no rocket science. Can be done pretty easily at much lower costs with very minimal efforts. Add to this, inefficient Management Teams in many cases who have never worked earlier in Malls or have a deeper understanding of Retail dynamics. Just that the Mall Owners must come out of their slumber and their fixation for a certain “fixed” revenue model and consider Professional Management. Malls are community centers and Mall owners must connect with the consumers and not just their bank a/cs.

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