An Introduction T.E Lawrence once said, ‘All men dream, but not equally. Those who dream by night in the dusty recesses of their minds, wake in the day to find that it was vanity: but the dreamers of the day are dangerous men, for they may act on their dreams with open eyes, to make them possible.’ Ajit Joshi is one such man. Having studied at illustrious institutes like the Melbourne Business School, Cornell University and Les Roches-Bluches, Switzerland, he created far reaching ripples in a host of industries before becoming a part of the dream that was ‘Croma’ in April 2006. Ajit nurtured the brand like one would their child and with his team’s support led it to the heights it has scaled today. His methods were both innovative and effective and in almost no time at all, Croma had completely revolutionized the way India bought electronics. Ajit always placed paramount importance on knowing his consumers inside out. So much so, that he frequently pretended to be a salesman at stores and interacted with customers to better understand their behavior. He also addressed many of their complaints right there, much to the consumer’s delight. Even journalists, known to be unsparing, succumbed to his charm and often enough ended up as his close friends. In office too, his warmth eluded no one. His gentle and generous nature always won everyone over and all one had to do to witness this, was visit the office during Diwali when he sponsored ‘faral’ and a host of other delicacies for the entire office to enjoy. He motivated his team to rise beyond the standards they set for themselves and pushed them to be all that they could. He mentored and advised his people on a personal basis and had an uncanny ability to always bring the best out in them. He has also always been focused on creating equal opportunities for differently abled individuals and launched several recruitment initiatives throughout his career to support them. It comes as no surprise therefore that in an industry where nobody stays in one company for too long, his team always remained loyal to him and stuck by his side with pride in his journey. This book is a celebration of the thought leadership he displayed during his time at Croma.
The TheBirth BirthOfOfCroma Croma TheThe electronics electronics sector sector in 2006 in 2006 waswas highly highly unorganized unorganized andand waswas characterized characterized by by chaos chaos andand a prevailing a prevailing ‘anything ‘anything goes’ goes’ attitude. attitude. To change To change these these circumstances, circumstances, the the TataTata Group Group decided decided to make to make theirtheir foray foray intointo electronic electronic retail. retail. They They wished wished to create to create an an organized organized retailer retailer thatthat would would be present be present across across India India andand would would potentially potentially change change the the wayway people people buybuy electronics electronics altogether. altogether. Initially Initially registered registered under under the the name name ‘Value ‘Value Electronics’, Electronics’, the the company company name name waswas laterlater changed changed to ‘Infiniti to ‘Infiniti Retail Retail Ltd’ Ltd’ andand the the brand brand name name ‘Croma’ ‘Croma’ waswas chosen chosen andand christened christened by by Mr. Mr. Ratan Ratan TataTata himself. himself. To To spearhead spearhead thisthis still still nascent nascent ideaidea of aofbrand, a brand, theythey brought brought in Mr. in Mr. Ajit Ajit Joshi. Joshi. Ajit Ajit andand his his team team realized realized thatthat if Croma if Croma hadhad to succeed, to succeed, its very its very DNADNA would would have have to to be different be different fromfrom anything anything elseelse out out there. there. At aAttime a time when when everyone everyone in the in the industry industry waswas obsessed obsessed withwith selling selling theirtheir products products by any by any means means possible, possible, theythey decided decided to walk to walk a a newnew path. path. They They put put the the consumers consumers at the at the heart heart of the of the business business andand focused focused all their all their strategies strategies around around giving giving them them the the bestbest shopping shopping experience experience possible; possible; oneone where where products products weren’t weren’t soldsold to them to them but but oneone where where theythey got got all the all the helphelp theythey needed needed in in buying buying the the product, product, bestbest suited suited to their to their needs. needs. Thus Thus waswas bornborn the the brand brand philosophy philosophy of ‘we of ‘we helphelp youyou buy’buy’ andand it stands it stands strong strong even even today. today.
We Weare are open. open. But Butwe we won’t won’tsell. sell. Welcome Welcome to Croma to Croma an electronics an electronics megastore megastore brought brought to youto you by theby Tata the group Tata group with the with technical the technical support support of Woolworths, of Woolworths, one ofone the of world’s the world’s largestlargest leading leading retailers. retailers. CromaCroma offers offers an amazing an amazing range range of computers of computers and and peripherals, peripherals, communication communication and imaging and imaging products, products, home home entertainment entertainment and audio and audio products, products, gaming gaming systems, systems, music music and movies, and movies, small small and large and appliances. large appliances. And this Andisthis onlyis only half the half story. the story. The other The half otherishalf what is makes what makes Croma,Croma, a storea unlike store unlike any any other. other. At Croma, At Croma, we don’t we believe don’t believe in selling. in selling. Instead, Instead, we we believebelieve in understanding in understanding your needs your needs better.better. We believe We believe in in simplifying simplifying technology technology for you. forWe you. believe We believe in helping in helping you you make make the right the choice. right choice. We help We you helpbuy. you buy. Visit us Visit between us between 11 am11 and am9 and pm 9 and pmexperience and experience the joythe of joy of buying. buying.
A AWalk WalkToToRemember Remember Launch Launch of 1stofCroma 1st Croma Store, Store, Mumbai Mumbai (2006) (2006)
format; format; Croma Croma Zip,Zip, under under Ajit’sAjit’s guidance. guidance. These These
100100 andand Counting Counting
st Ajit Ajit began began his his journey journey withwith the the launch launch of 1of Croma 1st Croma
stores stores were were smaller smaller andand quicker quicker to browse to browse through through
Setting Setting newnew milestones milestones andand achieving achieving them them
store store at Juhu, at Juhu, Mumbai. Mumbai. Under Under his his direction, direction, the the
andand gave gave better better returns returns to to the the business business as as
became became something something of aofhabit a habit for Team for Team Croma. Croma. OneOne
process process waswas completely completely centralized centralized andand streamlined streamlined
compared compared to the to the normal normal retail retail format. format. Today Today Croma Croma
such suchmilestone milestonewaswascrossed crossedwhen whenCroma Croma
to create to create a new, a new, separate separate entity entity for Croma. for Croma.
hashas overover 11 11 Zip Zip stores stores out out of which of which 7 are 7 are situated situated
launched launched its its 101st 101st store store at Pradhadevi at Pradhadevi on on 2nd2nd
at airports at airports across across the the country. country.
AprilApril 2014. 2014.
LessLess thanthan a year a year later, later, Ajit Ajit andand his his team team pioneered pioneered
Launch Launch of croma.com of croma.com (2012) (2012)
Most Most Admired Admired Retailer Retailer - 7 -times 7 times in ainrow a row
the the launch launch of Own of Own Label Label Products Products of Croma. of Croma. He He
Ajit Ajit waswas keen keen to catch to catch on the on the growing growing e-commerce e-commerce
In its In 8 its years 8 years of existence, of existence, Croma Croma hashas wonwon the the
guided guided the the branding branding andand growth growth of Croma’s of Croma’s OwnOwn
trend trend in the in the country. country. Under Under his his leadership, leadership, Croma Croma
coveted coveted ‘Most ‘Most Admired Admired Retailer Retailer – CDIT’ – CDIT’ award award
Label Label products products which which rapidly rapidly gained gained traction traction withwith
became became the the firstfirst electronic electronic retailer retailer to to launch launch
from from the the India India Retail Retail Forum, Forum, 7 consecutive 7 consecutive times. times.
the the consumers. consumers. Soon Soon after, after, the the brand brand ‘Handpicked ‘Handpicked
e-commerce e-commerce in India. in India.
ThisThis onlyonly goes goes to show to show howhow Ajit Ajit not not onlyonly led led the the
Launch Launch of Own of Own Label Label Brand Brand by Croma by Croma (2007) (2007)
team team to the to the top top but but alsoalso nurtured nurtured it well it well enough enough
by Croma' by Croma' waswas built.built. He He alsoalso pushed pushed the the team team to to
to keep to keep it there. it there.
procure procure slightly slightly off-beat off-beat products products like like Massagers Massagers
Own Own Label Label Portable Portable AC AC wins wins Product Product Of The Of The YearYear
which which are are seeing seeing great great results results today. today.
(2012) (2012)
In 2008 In 2008 Croma, Croma, under under the the determination determination andand
In 2012, In 2012, Ajit’sAjit’s brave brave decision decision of launching of launching the the OwnOwn
Impact Impact
strong strong belief belief of Ajit, of Ajit, tooktook the the brave brave stepstep of adding of adding
Label Label Brand Brand paidpaid off off when when Croma's Croma's OwnOwn Label Label
Ajit’sAjit’s leadership leadership hashas hadhad an unparalleled an unparalleled impact impact on on
highhigh value value products products to their to their inventory inventory which which included included
Portable Portable AC AC wonwon “Product “Product of the of the YearYear 2012". 2012".
Brand Brand Croma. Croma.
highhigh capacity capacity Refrigerators, Refrigerators, Air -Air conditioners - conditioners andand
Total Total Brand Brand Awareness Awareness roserose to 98%. to 98%.
other other products products like like mobile mobile phones phones andand tablets tablets fromfrom
‘Personality ‘Personality of the of the year’ year’ - ET- Retail ET Retail Awards Awards
the the digital digital product product category category thatthat were were supplied supplied
(2013) (2013)
directly directly fromfrom the the factories. factories.
By By 2013, 2013, Croma Croma hadhad become become a brand a brand to reckon to reckon
In 2010 In 2010 he he guided guided the the rebranding rebranding of the of the OwnOwn
with. with. Ajit Ajit Joshi’s Joshi’s immense immense contribution contribution waswas
Label Label Products Products giving giving them them a fresher a fresher looklook andand
recognized recognized when when he was he was awarded awarded the the ‘Personality ‘Personality
attracting attracting a larger a larger customer customer base. base.
Of The Of The Year’ Year’ award award at the at the ET retail ET retail awards awards 2013. 2013. In addition In addition to this to this Croma Croma alsoalso wonwon the the ‘Best ‘Best
Introducing Introducing Croma Croma Zip Zip (2007) (2007)
Omni Omni - Channel - Channel Retailer' Retailer' award award andand the the ‘Best ‘Best
In 2007, In 2007, Croma Croma launched launched a unique a unique newnew store store
Employee Employee practices' practices' award. award.
72% 72% of our of our customers customers today today rated rated themselves themselves as as trulytruly loyal. loyal. OurOur repeat repeat customer customer base base is now is now 41%. 41%. Consideration Consideration & Recommendation & Recommendation scores scores stand stand at at 80% 80% andand 85% 85% respectively. respectively.
Launch Launch of of Own Own Label Label Brand Brand byby Croma Croma (2007) (2007)
st Launch Launch of of 1st1Croma Croma Store, Store, Mumbai Mumbai (2006) (2006)
Introducing Introducing Croma Croma ZipZip (2007) (2007)
Launch Launch of of Croma.com Croma.com (2012) (2012)
Product Product of the of the YearYear 20122012
ET RETAIL ET RETAIL AWARDS AWARDS
ETET Retail Retail Awards Awards PERSONALITY PERSONALITY OF THE YEAR YEAR ‘Personality ‘Personality of of thethe year’ year’ OF THE - 2013 - 2013 - (2013) (2013)
100+ 100+ CROMA CROMA STORE STORE 100 100 and and Counting Counting (2014) (2014)
Most Most Admired Admired Retailer Retailer of of thethe Year Year (2007(20072014) 2014)
Product Product of of thethe Year Year forfor Own Own Label Label Portable Portable ACAC (2012) (2012)
The TheMilestone MilestoneCampaigns CampaignsHeHeMade MadePossible Possible Ajit Ajit Joshi Joshi loved loved being being involved involved in every in every aspect aspect of Croma of Croma andand it's it's advertising advertising always always heldheld a special a special place place in his in his heart. heart. His His communication communication strategies strategies are are study study material material for for theirtheir effectiveness effectiveness andand his his direction direction andand judgement judgement brought brought many many a loved a loved campaign campaign to fruition. to fruition.
“We“We Help Help YouYou Buy” Buy” - The - The firstfirst campaign campaign
60 60 years years of Independence of Independence Campaign Campaign
We We Help Help YouYou BuyBuy Campaign Campaign
Electronic Electronic Soulmate Soulmate Campaign Campaign
th th Launch Launch of the of the 100100 Store Store Campaign Campaign
Independence Independence SaleSale Campaign Campaign
TheThe RealReal salesale Campaign Campaign
People Leave. Memories Stay Behind. People Leave. Memories Stay Behind. Avijit Mitra, Chief Financial Avijit Mitra, Officer Financial Officer OneChief of the most remarkable things about Ajit is that he has the most eidetic
good meal and relaxed in the night. Being a professional retailer he always
One of mostever remarkable things abouttoAjit is thatthe hecontours has the ofmost eidetic memory thattheI have seen when it comes recalling a place
good meal relaxed in the night. Being a inprofessional retailer he always encouraged meand to look at new retail experiences terms of retail technology,
I have everI seen when that it comes recalling the our contours of a place he memory may havethat seen briefly. still recall whentowe went for induction to
encouraged medisplay to lookand at would new retail in to terms of retailthem technology, merchandise and oftenexperiences challenge me implement first
he may seen briefly. I stillherecall that when for our induction Sydney withhave Woolworths in 2006, remembered hiswe waywent around the city from to
merchandisewith andour display and and would often challenge me pushed to implement them in accordance vendors partners. He always me and myfirst
with and Woolworths 2006,kept he remembered his way around city from his Sydney earlier stint even ourinhosts taking his advice to take us totheplaces.
in toaccordance withtechnologies our vendorsand andbepartners. Hebring always pushed meIndian and my team lead with new the first to them in to the
his earlier stint isand our hosts kept taking his would advice correct to take us places. Another example theeven several instances when he thetostore
team to lead with new technologies and be the first to bring them in to the Indian market.
Another example is position the several instances whenthat hehewould correct store planners about the exact of a pillar in a store may have seenthe only planners the exact position of aincredible pillar in agift! store that he may have seen only once. A truly about incredible man with a truly once. A truly incredible man with a truly incredible gift! Debaprasad Adhya, Chief of OL, Merchandising & Store Design Debaprasad Adhya,
market. Hemant Taware, Chief of Operations, Store Development, Customer Services & Warehousing & Logistics Hemant Taware, Operations, Store Development, Customer Services & Warehousing & Logistics It’s Chief beenofover 10 years since I have known Ajit as a boss. I have had him as been 10 half yearsmysince I have as a and boss.hisI have had him my It’s boss for over almost career! Hisknown eye forAjitdetail elephant like as
of OL, Merchandising & Store OverChief the last 8 years, my interactions with Design Mr. Joshi have spanned over multiple areas
my boss for almost my career! His eye for detail and his elephant like memory (except names)half is incredible.
thelabel last products, 8 years, my interactions Mr. Joshi have spanned multiple areas like Over private store selection,with layouts and fixtures, inventoryover management
(except is incredible. Ajit memory taught me severalnames) things about retail that I didn’t know before, like the ability
private products, store selection, layouts and fixtures, inventory management andlike running thelabel stores.
Ajit taught mepeople severalacross thingsthe about retailand thatbreadth I didn’t of know like theHis ability to connect with length the before, organisation.
stores. He and has running always the been very passionate and optimistic about Croma’s own label
to connect with people acrossskills the length and unmatchable! breadth of the What organisation. networking and public relation are truly I really His
He has beenthe very passionate optimistic about Croma’s own products. He always encouraged team to try newand things and at the same time was verylabel
networking and public truly I really admire about Ajit is his zealrelation and zestskills for lifeare and his unmatchable! “never give up”What attitude. I
products. Hethe encouraged the team to try new things and at the same time was very particular about quality of Croma products.
admire about Ajit isuphistozeal forsource life andofhisinspiration “never giveinup” attitude. have always looked Ajit and as azest true both my I
aboutabout the quality of Croma products. Ajit particular is very choosy new store selection and is a perfectionist when it comes to
have always up to of inspiration in both professional andlooked personal life.AjitHeasisa atrue truesource professional who has very my
Ajit is very about store selection and is a perfectionist when it comes to design and its choosy impact on the new customers.
professional life. He is true professional has very strong values andand his personal love for his family anda genuine concern forwho the family
and disciplinarian its impact on the customers. He design is a strict when it comes to store operations and would often
strong and values and his love for family and concern for the family of others their well-being is his something thatgenuine is worth emulating. I will
He is itawith strictthedisciplinarian when itto comes store would compare army and wanted achievetothe highoperations standards and of the luxuryoften
of him others and intheir is at something miss dearly the well-being corner office Croma! that is worth emulating. I will
compare it with the army and wanted to achieve the high standards of the luxury hospitality sector as well. hospitality sector well. about achieving targets in internal meetings, he would Though he was veryas critical Though he wasusvery critical about achieving in sessions internal meetings, he would never miss taking out for lunch at Fountain Inntargets after our with our Chairmiss taking usI out lunch at luck Fountain Innfuture after endeavours. our sessions with our Chairmannever in Bombay House. wishforhim good for his man in Bombay House. I wish him good luck for his future endeavours. Rahul Tayal, Chief of Buying Rahul Tayal, & B2B
miss him dearly in the corner office at Croma! Shalini Vohra, Chief of Human Shalini Vohra,Resources & Organizational Learning Chiefknown of Human Organizational I have Mr. Resources Joshi as a& person who isLearning humane, humble and always I have knownto Mr. Joshi as differently a person and whobeing is humane, humble and always looking forward doing things innovative. forward to doing thingswas differently being his innovative. As alooking Boss his towering presence alwaysand inspiring, reassuring words Asstress a Bossbusting his towering always his reassuring words were and hispresence constant was support wasinspiring, highly motivating.
Buying &I B2B TheChief best of experience have had with Ajit was during my international trips where
were andI his constant support was highly Wish himstress goodbusting luck and hope that there is nothing but motivating. success in his
Thehebest experience I have with Ajit work, was during international trips while used to push me for ahad hard day’s he alsomy ensured that we hadwhere a
Wish destiny. him good luck and I hope that there is nothing but success in his career’s
while he used to push me for a hard day’s work, he also ensured that we had a
career’s destiny.
Deepshikha Surendran, Head, MarketingSurendran, Deepshikha
Ranjit Satyanath, Head, IT Satyanath, Ranjit
To Head, a storyMarketing teller par excellence! From stories of the Croma catalogue being
Ajit’sHead, waysIT are unorthodox. My first memory of him was when he, in his then
To a story teller roll’ par to excellence! From eye stories of thein Croma catalogue being compared to a ‘toilet having a sharp for detail every creative, every
Ajit’s of ways unorthodox. My first of him was when he, in his capacity Opsare Head was presenting thememory Budget Numbers to the Shoppers Stopthen
compared to a ‘toilet having a sharp eyeclose for detail in every every brand fixture, we’ve seenroll’ thetocritic in him at very quarters. To acreative, boss who
capacity ofCommittee. Ops Head was presenting the at Budget Numbers to the Shoppers Stop Management He used a limerick the start of his presentation which
fixture, seen thebest critic him at‘earn’ veryevery close‘Good quarters. a boss hasbrand pushed us towe’ve give our very andinreally Job To Done’ … thewho
Committee. used aThe limerick at the start of his presentation wasManagement his own creation and notHe a quote. method he used stayed with me. which
has pushed us to give our very best to anda really ‘earn’ ‘Good Done’ … the learnings have been immense. Here’s mentor whoevery makes his Job team shine.
wasobserved his own that creation and not a fiercely quote. The methodofhehisused stayed I have Ajit is always protective people. Hewith doesme. not
learnings been immense. Here’s to a mentor who makes his team shine. Thank you forhave everything!
have observed that his Ajit team is always fiercely protective of hishepeople. does not like I‘outsiders’ critiquing members. At the same time is sure He to speak
Thank you for everything! Maneesh Mittal, Head of e-commerce Maneesh Mittal, of e-commerce My Head first interaction with Ajit as part of my induction into Croma, brought me a My first interaction with Ajit asthat part my induction into Croma, broughthad me a glimpse of the infectious passion noofamount of prepping by colleagues glimpse of the me infectious passion that noI amount prepping by colleagues actually prepared for. Over the time that had the of honor of working under hishad actuallyI experienced prepared mefirst-hand for. Over the I had the honor of working under his guidance, his time manythat traits which only served to enhance I experienced many which only served to enhance the guidance, respect I have for him. first-hand I benefitedhis from histraits support through thick and thin
‘outsiders’ critiquing team members. sure to speak his like mind freely to any team his member who does At notthe livesame up totime his he highis standards. his mind freelydoes to any team member who does livehim up to However, seldom anyone on the receiving endnot bear ill his will.high Theystandards. know seldom doesthem anyone on the receiving endbe bear They know thatHowever, the moment he sees do something well, he’ll thehim firstilltowill. shake their thatAjit theismoment he sees them do beseen, the first to believes shake their hand. a great communicator. Hesomething is the first well, CEO he’ll I have who hand. Ajit messages is a great communicator. He is email the first seen, in delivering upfront. Impersonal orCEO blogsI have are not for who him.believes He in delivering messages upfront. email them or blogs believes in standing up in front of theImpersonal team and telling like are it is.not for him. He believes in standing up in front of the team and telling them like it is.
thecan respect have for I benefited from his support through thick (how I everI forget thehim. Prabhadevi store launch) and learned from himand thethin
Jignesh Mehta, Head: Customer Service Jignesh Mehta,
(how can I evertoforget the Prabhadevi store launch) and him the need for attention the smallest detail. His involvement (andlearned indeedfrom visionary
Head:with Customer Service Working Mr Joshi has been an interesting journey to date. I recall in 2008,
need forin attention to the His involvement (and indeed ofvisionary guidance) the evolution of smallest Croma’s detail. store layouts, the clear visualization any
withTCS Mr team, Joshi in has an interesting journey date.toI lay recall in 2008, as aWorking part of the ourbeen IT workshop, Mr. Joshi wastokeen a strong
the evolution of photos, Croma’sand storehislayouts, clear visualization newguidance) site by ainglance at a few ability the to recall the smallest ofofany
as a partwith of the TCS team, our ITcheckout’ workshop, Joshiticketing’. was keen lay2014, a strong foundation concepts like in ‘Faster & Mr. ‘Digital Cutto to
newabout site by a glance at a few property photos, and to visited, recall the smallest details every store, potential and his mallability that he helped the of
with concepts CutAs to we 2014, the foundation enablers haven’t changed;likethe‘Faster focuscheckout’ continues&to‘Digital be onticketing’. ‘Customer’.
details about every store, potential property and mall that he visited, helped the team immensely.
theahead, enablers changed; the focus as continues to with be on ‘Customer’. As we move I’d haven’t like to remember Mr Joshi a retailer Strong Customer
immensely. Theteam uniquely Croma culture that he has developed and nurtured over the years, no
move ahead, I’d Acumen. like to remember Joshi as to a retailer with Strong Customer Focus & Store Ops I take thisMr opportunity wish him good health and
Theisuniquely culture he has and nurtured over the as years, doubt, one of Croma the pillars on that which we developed have achieved our successes an no
Focus Store all the very&best in Ops workAcumen. and life. I take this opportunity to wish him good health and
doubt, is one onthat which we have achieved as an organization, and of it isthe nopillars wonder so many people across our the successes company look organization, andmodel it is no wonder many people across the up to him as a role and mentor.that Heso has always encouraged us company to try newlook up toconstantly him as a reminding role model us andthat mentor. always encouraged us to try things, retail He is has about continuously refreshing thenew things, experience constantly and reminding us that retail is about continuously refreshing customer innovating. He challenged us to develop (and improve the experience and innovating. He challenged us to was develop improve on) customer global practices, sometimes before we thought the customer ready(and for these on) And globalyet, practices, before weinthought the customer was ready forour these ideas. we aresometimes the leaders today a number of areas, including ideas. Andfeatures, yet, wemainly are the leaders today in that a number including omni-channel because he believed even the of skyareas, was not the limit.our features, mainly because he believed that even the sky was not the limit. I willomni-channel miss his presence. I will miss his presence.
all the very best in work and life. Keyur Shah, GM,Keyur Internal Audit Shah, GM,a Internal It was pleasureAudit working with Ajit, by Ajit and for Ajit. It was a pleasure by Ajitinand Ajit. stages during induction Though it was a shortworking stint, butwith his Ajit, guidance thefor initial it wasfeedback, a short stint, butme hisshape guidance in the initialwell. stages during induction andThough subsequent helped my department Inspiration from subsequent helped me my and department well. Inspiration from himand would help me feedback, drive key projects in ashape focused dedicated manner. himhim would helpvery mebest driveforkey in endeavours a focused and dedicated manner. I wish all the allprojects his future I wish him all the very best for all his future endeavours
Thank ThankYou YouSir! Sir!