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WHAT if your bank ventures into cosmetics business and launches a perfume under the same brand? Is it an appropriate brand extension for your bank, an out and out financial enterprise? Would you trust your bank with the same quality of product and service delivery with cosmetics as well? Or you feel your bank is diluting its reputation? These are a few questions being debated in a retail management classroom.

Mumbai-based Krupa Vaidya, 24, shares some of her campus learning. The commerce graduate completed her Post Graduate Diploma in Management (PGDM) fromWelingkar Institute of Management and Development in 2009, specialising in retail.

Retail in classroom
“Organized retail has grown from three per cent in 2006 to seven percent in 2010 and is expected to go up to 15 percent within three years,” says Rahul Narvekar, co-partner, FashionandYou, an online retail portal. Retail sector had lost much of its sheen during the 2008 global meltdown resulting in dismal performance, however, as on date, the sector is abuzz with activity.

The global interest is back, so is the programme interest. The retail seats in colleges are filling up as more institutes launch retail as a specialisation in their bouquet of programmes. There are one-year diploma/ certificate courses offered by institutes as well as two-year full-time PGDM courses.

At the end of the first year of PGDM students are apprised of concepts in retail business, marketing, logistics and supply chain management, finances and Information and Technology. “The second year incorporates specialised courses like store operations and design, visual merchandising, category management, mall management, customer loyalty programmes among others,” says Dr Shalini Nath Tripathi, co ordinator- PGDM, Retail Management, Jaipuria Institute of Management, Lucknow.

An overview of the international brand in the backdrop of global market is also given,” says Krupa. The students are also acquainted with concepts of rural retailing and luxury retailing. “Luxury retail works on different dynamics,” says Narvekar whose portal retails luxury and super-premium fashion accessories. The brand perception, pricing, brand mix and other strategies used in pitching luxury goods are different from other category products. “In my lectures, I tell students why it is a sin to place a Salvatore Ferragamo shoes along side Bata,” he says.

The overall pedagogy comprises assignments, projects, case studies, guest lectures, field visits and role plays. Dr Uday Salunkhe, Director, Welingkar Group, shares their module. “The first few months are dedicated to theoretical subjects and later progresses to summer project at the end of first-year term,” he says. The second year ends with two retail projects, he adds.

At the end of the first year the student has to gain some industry experience. Krupa interned with a daily newspaper, Daily News and Analysis (DNA), working in ad/sales department. At JIM-Lucknow, the curriculum comprises six trimesters of classroom sessions, two months of corporate summer training and four months of extensive shop floor training at Pantaloon stores (upon the completion of the six trimesters).

The class room takeaway
“The PGDM course aims at providing a comprehensive analysis of the retail environment while exposing them to the issues and developments in the industry,” says Dr Salunkhe.

The guest lectures gives a peep into the real retail world. “It makes learning much more interesting,” says Krupa. She also remembers on–campus faculty classes of Mrs. Swapna Pradhan and Dr Ritu Modi.

Classroom inputs, however, only partially equips a student for their work life. B-Schools attempt to bridge this gap by providing students with on-shop floor training modules, corporate summer training and projects alongside classroom studies.

All top-class institutes take the effort of keeping the curriculum in tune with market requirement. Says Dr Tripathi, “At the end of every academic year, our entire curriculum of the previous year is critically analysed by the faculty Council.” She adds, “This is done in order to adjudge the curriculum utility in the current corporate scenario.” In order to keep students abreast with changing market environment, top-notch schools invite HR heads and CEO’s from retail outfits to give lectures.


The Indian Retail School designs the respective modules based on the market research and the latest developments in the industry. “For example, we have included luxury modules in all our programmes, so as to ensure our students acceptability in luxury sector as well,” says Dr Tarun Panwar, CEO, Indian Retail School.

From applying to getting placed and beyond
Most PG programmes seek 50 percent of marks in graduation. Good institutions will always have stringent norms for screening, which includes an entrance test, followed by written communication test. The group discussion and personal interview finally determines the eligibility for entry.

“Our selection process begins with candidates being shortlisted on the basis of competitive entrance exams- CAT and/ or MH-CET and/ or ATMA and/or XAT, past academic performance and work experience,” says Dr Salunkhe.

Brands like Tommy Hilfiger, Puma, ITC Wills Lifestyle, United Colors of Benetton, and Mahindra Group and a host of others recruit from campus. The entry-level package can start on an average of Rs. 20,000 per month and goes up to Rs. 50,000 depending on the college and duration of the course. “Along with qualification, how a candidate fields an interview also determines one’s pay packet,” says Narvekar. Basically, an interviewer’s assessment seals the pay deal.

As soon as Krupa completed her course, she was offered job by CROMA, a TATA electronics brand. “It was campus recruitment,” she says. At entry level, her salary package was approximately Rs. 6 lakh per annum, which a year later stands at Rs. 7 lakh.

Is the course for you?
“It is a lively, interactive profession where the chances of growth are high and that too in a short span of time,” adds Narvekar. If a candidate has attributes like leadership qualities, strong communication and people management skills, organisational behaviour and marketing skills, then this sector will embrace you warmly. Retail is not for everyone, says Narvekar. “Behind the glitz and glamour of malls, there are sales targets to be met and logistics to be kept,” he informs. A PG Diploma course deals with the technical and soft-skills in greater depth. And by the end of the programme, the level of exposure is usually high compared to a certificate-level programme

Will the course fetch you a good job and salary? According to the 2009 India Retail Report compiled by research group Images Research, organised retail is opening up job opportunities for 15 million people in different activities. And salaries are getting higher.

Fuelled by positive retail policy, popular global brands, from grocery chains like Wal-Mart, Tesco, to luxury brands like Salvatore Ferragamo and Diesel are making entry into India. “The result is an exponential growth in the domain, generating retail jobs at multiple levels,” says Narvekar. “Large scale investments from domestic brands too are fuelling job growth and companies need trained manpower,” says Dr Salunkhe. Given the scope of employment opportunities in retail, education in this sector is becoming popular. Armed with a PGDM course, the options open are plenty, starting at managerial levels in top companies.

Patience, understanding, tolerance and honesty are virtues that one needs as these qualities will come in handy during on-the job. “One needs head for numbers as well,” says Narverkar. The stocks have to be tallied, the sales have to be computed, and discounts will have to be worked out to leave profit margins as well.

The soft-skills are also a part of the course in many colleges. The real brush however, happens while dealing with real people- the customers.
So, are you ready for the new role? 

Prof. Dr. Uday Salunkhe Group Director, Welingkar Group EXPERT SPEAK: Retail demands sensitive managers What all does the course curriculum involve in retail management? A: The PGDM Retail Management course is a blend of general management, marketing and specialised retail subjects. The learning process involves advanced training in theory and applications in the retailing business. This programme aims to provide students the skills, creativity and knowledge to understand retailing as a business management discipline. Retailing is changing today, and the business environment demands professionals with an ability to learn new skill sets, adapt and think out of the box. This comprehensive training programme provides the student with advanced theoretical inputs and also the applications in the business.   Q: In Welingkar’s PGDM, how many modules are there? A: In the first nine months, the student will gain a thorough foundation in general business management and retail modules. This is followed by a summer project with the retailer. The second year commences with two trimesters of three months each which involves class room learning with strong focus on retail. The last four months will include two intensive projects in retail. Q: How does Welingkar design its course material? A: The course material is not designed by Welingkar. Each faculty decides on the required material, depending on the course curriculum and syllabus. We do take industry feedback which in turn gives inputs on subjects they would want to be taught. This also teaches the Retail students what skill sets they would require after they finish their programme and start working in the corporate world. Q:  Does the institute offer scholarships to students? A: Welingkar announces Protsahan – scholarships for bright minds. Top five students are selected with a fully-paid sponsorship for the entire programme, in other words, a 100% tuition fee waiver. The second ranker receives a free laptop. The third ranker will have foreign internship sponsored. Q: Is there an exchange programme of faculty/students? If yes, what  are the institutional tie-ups? A: Business Education without a platform to exchange views, share learning’s and present papers is incomplete in today’s context. Welingkar has a number of tie-ups with international universities to learn the latest teaching methods, develop contemporary curriculum and their knowledge. Q:  What has been the last 2-3 years of record in campus placements, where are the placements and what has been average salary levels? A: Welingkar has been having a record of 100% placements in the last 2-3 years. A few of the organisations where the students have been placed are: Future Group, Shopper’s Stop Limited, Lifestyle, Arvind Brands, Raymond’s among host of others. The average salary has been Rs. 6.40 lakhs per annum.