Binoy Chacko
Business Consultant at Viva la Vida- Claim this Profile
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Bio
Salman Khurshid, CSCP
I worked with Binoy in 2019-2020. Well, thanks to him that we got the opportunity to put our product in the bigger market. We are still doing excellent with Pan Emirates because of the accurate fast moving & quality product selection by Mr. Binoy Chacko. Highly recommended!
Salman Khurshid, CSCP
I worked with Binoy in 2019-2020. Well, thanks to him that we got the opportunity to put our product in the bigger market. We are still doing excellent with Pan Emirates because of the accurate fast moving & quality product selection by Mr. Binoy Chacko. Highly recommended!
Salman Khurshid, CSCP
I worked with Binoy in 2019-2020. Well, thanks to him that we got the opportunity to put our product in the bigger market. We are still doing excellent with Pan Emirates because of the accurate fast moving & quality product selection by Mr. Binoy Chacko. Highly recommended!
Salman Khurshid, CSCP
I worked with Binoy in 2019-2020. Well, thanks to him that we got the opportunity to put our product in the bigger market. We are still doing excellent with Pan Emirates because of the accurate fast moving & quality product selection by Mr. Binoy Chacko. Highly recommended!
Experience
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Viva la Vida
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1 - 100 Employee
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Business Consultant
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Jun 2020 - Present
Viva La Vida is a business setup which provides design, development and sourcing solutions to its retail and hospitality customers & lately with Distributors getting them top notch Global brands. We work along with our customers to understand their business requirements and support it through the range of products and consulting services. Viva La Vida is a business setup which provides design, development and sourcing solutions to its retail and hospitality customers & lately with Distributors getting them top notch Global brands. We work along with our customers to understand their business requirements and support it through the range of products and consulting services.
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PAN Emirates
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United Arab Emirates
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Furniture and Home Furnishings Manufacturing
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100 - 200 Employee
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Head of buying - Housewares
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Sep 2015 - May 2020
Reporting to the Chairman and as a part of the core team, was instrumental in advising and guiding teams in all areas of business including planning, budgeting, pricing, shop floor management and visual merchandising. In addition to the main responsibility of Buying and Merchandising, have been the visionary who has driven new and strategic ‘go-to-market’ plans, harness marketing activities and manage global buying through Buyers, Assistant Buyers, and a support team. Leading teams to enhance profitability by finding new ways to maintain top line sales & margins, along with P & L accountability, budgetary objectives, targets, cost performance along with inventory and ageing stock management. Instrumental in disposing initial aging stock whilst simultaneously obtaining approvals for additional budgets for sourcing of new products in new categories and subcategories. Have been appointed to refresh the brand image by making a thrust and enhancing the housewares business, to create a holistic shopping destination. The success of this venture was the basis on which 8 new stores were opened in a period of 4 years. Accessories have complimented the furniture merchandise and indirectly have helped in the overall growth from DHS. 200 million to DHS. 500 million in 4 years. Repositioning and revamping the entire structure hierarchy to build a new set of categories and subcategories, thus focusing on the needs of the market and prevailing market trends. EG., Categories such as Soft Furnishing, lighting and Floor Cover were segregated, and new merchandising plans were created for each of these. Part of the core team to introduce the E Commerce platform as well as website development. Solely responsible to augment product supply to e commerce platforms
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Landmark Group
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United Arab Emirates
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Retail
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700 & Above Employee
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Senior Buyer
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Jul 2010 - Sep 2015
Approximately 17 years with Home Centre which is a part of the Landmark Group, and a first of its kind Home Furniture and home décor store in the Gulf region. Began my career as an Inventory Controller but was mentored and developed into a buyer and grew into the role of Senior Buyer. Reporting to the Head of Buying and Merchandising, was responsible for setting the annual sourcing / buying strategy for homeware. This was based on extensive studies of the trend forecast, vendor feedback and inputs from the design team. Conceptualized and designed product strategy, range, option plans, pricing, and intake margin strategy . Supported forecast and purchase process, inventory and ageing plans thus reducing costs and improving gross margins. Led cross – functional teams consisting of homeware buyers, visual merchandisers, the marketing team, retail operations and inventory managers for range development, store display/signage and markdown planning.Participated in international Household fairs and factory audits for vendor identification and product selection in the Far East, Indian Subcontinent Africa and Europe. Conducted crucial negotiation with these vendors to obtain sustainable growth and profitability.Managed major compliance & regulatory issues successfully, for categories like lighting, candles, fragrances etc. Successfully implemented a structure and SOP for the entire process. Successfully, launched a signature fragrance range and introduced humidifiers which went on to become top sellers. Received an award for sourcing the top seller for the year, in the year 2015. Was given additional responsibility for the Egypt Business to manage specific issues of buying due to import restrictions. Had a team of buyers located in Egypt as 60% of sourcing was local. Implemented and streamlined processes for import as per compliance norms.
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Buyer
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Jul 2006 - Jun 2010
Responsible for sourcing housewaresTraveling to all major Fairs in Indian Subcontinent, Far East, South East Asia, North Africa, Europe and Americas for Buying & Sourcing.Worked on Merchandise Approvals, Developing Assortment & Range Plans.Managing the Shipment Schedules across different seasons. Looking into the Distributions to Regions & Stores. Responsible for Clearing the Ageing & Non-Moving merchandise Led cross-functional liaison with Home ware buyers, visual merchandisers, marketing team, retail operations and inventory managers for respective deliverables such as range development, store display/signage, markdown planningRegularly visits company retail outlets across Middle East, North Africa for Doing Market Research, Competitors study & SWOT analysis for the Household Business
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Assistant Buyer
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Jul 2004 - Jun 2006
Maintaining relationships with existing suppliers and co-coordinating with buyers for sourcing new suppliers for future products.Liaising with other departments within the organization to ensure projects are completed.Seeking merchandise feedback from customersImplemented framework for identification, evaluation and development of new and existing vendorsManaged tracker to ensure timely replenishment of new arrivals ,supervised regular and timely stock replenishments .
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Inventory Controller
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Apr 1998 - Jun 2004
Proposed and developed a structure and work profile to create a Centralized Distribution System in jebel ali free zone to timely replenish the best selling styles to new stores during the initial days of Home Centre , this helped in having a disciplined stock levels and controlled dead stock in territories and ensured a steady growth of the brand .Responsible for Stock management of the centralized distribution system .Worked on assortment plans for the new stores opening up in various locations Pivotal interface between buying team and retail team
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Jawad Business Group
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Bahrain
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Retail
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700 & Above Employee
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Merchandiser -Jawad Fashion Division
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Jul 1994 - Apr 1998
Responsible for Following Franchises Early Learning Centre Applewoods Triumph Bhs-Home Ensuring product volumes and order flow are optimized in order to achieve target sales objectives Identifying new opportunities Meeting strict deadlines and ordering the right product Liaison with Marketing and Sales management to ensure effectiveness of sales campaigns and promotions. Plan Develop and implement the strategies and procedures for control of the products bought Regular store and market visits to get regular feedback on products launched and ensure the competency with other competitors
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Education
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c.v.raman university
Bachelor of Business Administration (B.B.A.), Operations Management and Supervision -
Guru Nanak English High school kalyan
HIgh school, pune university