Kitabi Keeda

This is an excerpt from the chapter ‘Kitabi Keeda’.

Chapter Introduction

Sriram did not have the burning ambition to start a business – he simply wanted to immerse himself in the world of books. Yet, this college dropout went on to build India’s largest bookstore chain, and spread the ‘reading’ virus far and wide.

R Sriram is most unlike any other ‘Sriram’ I have met.
He is a college dropout, an atheist, and does not believe in the traditional institution of marriage.
‘Log kya kahenge’ never bothered him, as he charted his own alternate path.
No, he did not know exactly what he wanted. But he kept looking and asking questions.
Searching for purpose, for something that ignited his passion.
That something was his love for books.
Out of this passion was born an enterprise. This enterprise brought people back to bookstores; it made reading cool for a new generation of kids.
Sriram became an entrepreneur to make this dream come true. To make a difference, to add meaning to many lives. To put books like this into your hands…
As he shares his long and exciting journey, I whisper a silent ‘thank you’.

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Excerpt

One of Sriram’s loyal customers was Markos Vellapalli, a lawyer from Kottayam. He was looking for something to gift to his young daughter. Sriram recommended a book to him titled ‘Mr. God, this is Anna’.
A few months later he stopped by and sought Sriram out. He shook his hand and said, “I want to thank you, Uttara loved the book!”
Many customers thus became more like friends. People of different age, background and experience but bound by a common passion for books.
Around a year into the job, one such customer called Ram Prasad invited Sriram home. His father was a well known Telugu film producer and he was moving to Hyderabad, to help him set up a studio.

He said, “You know Sriram, the one thing I am going to miss is Landmark. Will you come with me to Hyderabad and help me to set up a book store?”
Sriram was flabbergasted.
“One part of me was very excited and the other part was very scared. I wondered how on earth will I be able to do it!”
After careful thought Sriram realised he had some knowledge, but not enough. He would need a couple of other people who knew parts of the business he did not. People with complementary strengths, complementary skills, but shared values.
One such person was Anita – a literature graduate from Ethiraj college who had joined a few months after Sriram and handled the children’s section. The other was Sudarshan Reddy, who handled vendors and accounting.
Both of them agreed – and thus began a new adventure.
The three musketeers left Landmark in November 1989 for Hyderabad. None of them had a clue about writing a business plan, estimating cashflows or working capital.
“We did not ask for a stake in the company – we simply had no experience! But we were appointed as ‘General Managers’ and given an opportunity to build something. For us, that was remarkable and tremendous!”
The pay was better, of course but more importantly, Sriram learnt his fundamental lessons in retail.
Starting with how to identify a site for the store.
At that time the average shop size in Hyderabad was 500 sq ft in size; 1000 sq ft was a luxury. And a startup could not afford rentals in existing upmarket locations.
“We scouted all over Hyderabad and Secunderabad, and I realised how important it is to learn by walking around. You get tremendous insight by just being on the street, talking to people.”
Sriram finally zeroed in on Sardar Patel Road, close to the Panjagutta area which was developing rapidly at the time. Walden became the first retailer on what would later become a popular high street – but back then it was a huge risk.
Another risk was naming the store ‘Walden’ – inspired by Henry David Thoreau*. But in the end it did not matter, because the store itself was so unique, so different.
“Walden was the first bookstore to stock a wide range of non-book items such as stationery, music, movies and toys. We wanted to make it a friendly place, an inviting place and not only for hardcore book lovers.”
Years later, a book called ‘Blue Ocean Strategy’ would advocate the same…