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News Update from the Retail Scene in India
chillibreeze writer — The Chillibreeze Business Research Team
The retail industry could see a sea change with the Government of India considering Foreign Direct Investment. With this in view, Chillibreeze plans to bring you periodical updates on the retail scene in India.
The Chillibreeze Business Research Team has writers with interest and experience in the Retail industry, will be populating this page with the updates.
July 31st - Aug 6th India Retail News: Luxury items,
Boom Retail Space
1. Sunday, July 31, 2006 UK based Hamleys to set up shop in India
UK based Hamleys, one of the oldest toy retailers in the world, will soon be entering the Indian retail market with 2 stores. Hamleys stocks items such as soft toys, computer games, board games, model kits and movie merchandise. Nick Mather, CEO of Hamleys said “We are intent on opening in India but this will be subject to the completion of further detailed market research in Delhi and Mumbai, identifying and signing up with the right partner and selecting the right locations in consultation with our partner.”
The domestic toy market is highly fragmented with the organized sector selling out of departmental stores and gift outlets such as Archies. The company plans to open in both Mumbai and Delhi in its first phase and other metros in the second phase.
Source: Economic Times
2. Monday, July 31, 2006 Indians lapping up luxury items
The Indian market is attracting the attention of the world’s most luxurious brands. Major companies such as Ferrari, Kohler, Gessis and Grohes, and BMW will soon be rolling out their India operations. Cartier’s MD (West Asia and South Asia), Patrick Normand, said “Since the winds of change are sweeping across the country, we believe that India has started to develop as an important luxury network in the same line as Paris, NY and even Dubai.”
Source: Economic Times
3. Tuesday, August 1, 2006 Smaller retailers joining together to compete with RIL, Pantaloon
Small retailers from the unorganized sector in Rajkot, Gujarat are banding together to form a single umbrella brand to compete with giants such as RIL and Pantaloon. Local traders are planning a business model that will let all stores on Rajkot’s high street, Yagnik Road to become part of an umbrella brand that will jointly source goods and form a single identity by store designs and colors.
The Yagnik Road stores are a popular destination currently, with 200 large stores. According to Hitesh Bagdai, President of the Rajkot Chamber of Commerce and Industries, “All stores in this model will have a unique single identity and shoppers would be given freebies and discounts on purchases from any shop on the same street. The traders will meet shortly to draw up a blue-print.”
Source: Economic Times
4. Wednesday, August 2, 2006 Global retailers rush to enter Indian Market
Global retail giants such as Wal-Mart, Tesco and Carrefour are all clamoring to enter the Indian retail market, even though the government does not allow foreign direct investment as yet. Over half of India’s population of 1.1 billion is under 25 years of age with rising disposable incomes, making it a goldmine of opportunity.
N. V. Sivakumar, executive director at PricewaterhouseCoopers, India states that “India is the hot spot for large international retailers,” and that “They cannot afford not to be here.”
Wal-Mart is currently in talks with DLF, the country’s largest real estate developer based in Delhi, while the Landmark Group is negotiating with Carrefour and Bharti Enterprises announced that it was also in talks with Wal-Mart, Tesco and Carrefour to form a joint venture.
Source: The New York Times
5. Wednesday, August 2, 2006 Reliance’s North India focus
Reliance Retail announced that it would be setting up 23 shops in Punjab, investing $107 million in the next 6 months. The company made this announcement at the signing of a memorandum of understanding with the Punjab state government that will allow it to purchase land and open outlets in the area.
According to Adawal Shankar, President of Corporate Affairs, RIL, the company will be opening its first stores in the region within the next 6 months. Reliance plans to acquire approximately 1,100 acres in Punjab.
Source: Economic Times
6. Wednesday, August 2, 2006 Pantaloon Retail to tie up with Videocon
Pantaloon Retail will be tying up domestic electronics major Videocon to sell its entire range of products in its stores under its existing Koroyo and Sensei brand names. Pantaloon Retail is reportedly in talks with other manufacturers that produce items not produced by Videocon.
Kishore Biyani, MD of Pantaloon Retail told ET, “Consumer durable retailing has always been a top priority for us, and is not influenced by any competition. As for sourcing, we will be sourcing from multiple vendors.” Pantaloon plans to add more brands so that all consumer durable products such as hand-grinders, TV’s washing machines, refrigerators and air-conditioners are included in their stores.
Source: Economic Times
7. Thursday, August 3, 2006 Landmark Group to increase retail presence
Landmark Group announced that it will be investing US$96.5 million in the next three years to increase its retail presence in India. The company operates three brands, Lifestyle, a departmental store chain; Max, a hypermarket chain and Home Centre, a home focused chain. Lifestyle stores will be increased from the current 11 to 35 and Home Centers will increase from the current 2 to 10.
The company plans to enter newer markets such as Pune, Jaipur and Noida, while also increasing stores in current locations such as Mumbai. Besides their own brands, Landmark also has the licenses for Kappa, a sportswear brand from Italy, and Bossini, a casual wear brand. Both these brands will also have more stores in the next three years, with Bossini increasing from its current 4 to 25 by March 2007 and 100 in the next five years.
Source: Business Standard
8. Thursday, August 3, 2006 Ambani-Armani JV called off
The Ambani-Armani joint venture has been called off, as neither side was able to reach any mutual understanding. The Armani group was reportedly unhappy with Reliance’s approach of hard bargaining on profit margins. Neither company was able to agree on several items such as the products to be marketed, marketing rights and also on Reliance’s business commission.
According to sources, Reliance is now targeting CK, Ferragamo and Boss for a potential tie up, while a joint venture with Manolo Blahnik is already being working out.
Source: Economic Times
9. Friday, August 04, 2006 International design firms keen to be part of Indian retail boom
International design firms focusing in design of multiplex’s and retail stores are showing keen interest in being a part of the Indian retail boom. Design companies such as UK based Din Associates, Jestico + Whiles, Germany based Blocher Blocher Partners and Sweden based M2B are already in the country.
An upcoming mall in Delhi, Select Citywalk has Rasshied Din of Din Associates working on the French Connection store and Jestico + Whiles working on the PVR multiplex. M2B will be working on Ecco Shoes International store in Square One, another upcoming mall in Delhi. Blocher Blocher Partners designed the flagship store for Raymond in Mumbai.
While most design firms first come to India for a specific retailer, they tend to stay on and do work for both repeat customers and new clients through referrals. P Bhageria, CEO, Square One Mall, adds that “While the global firms get projects in India, they also get familiar with the local market and it leads to more opportunities here.”
Source: Economic Times
10. Friday, August 04, 2006 Retail boom to drive up worth of real estate
The total estimated commercial real estate stock is likely to grow by $66 billion to reach $366 billion by the year 2010. Most of this growth will be taking place due to the growth of organized retail, which is one the world’s 10 largest retail markets and has a $250 million estimated turnover. According to a report by Deutsche Bank Research, by 2008 end, there will be an estimated 220 new shopping centers in tier I and tier II cities.
Source: Business Standard
11. Saturday, August 05, 2006 Reliance to launch “Feel Fresh” outlets
Reliance Retail has invited applications for retail space for its Feel Fresh and Feel Fresh Plus stores in tier I and tier II cities across the country. Feel Fresh outlets will cover approximately 3,000 sq ft of space, and 2,500 of these stores are being planned, while Feel Fresh Plus outlets will occupy 10,000-50,000 sq ft of retail space with 2,000 retail outlets in the next three months. The company plans its hypermarkets to range form 100,000-150,000 sq ft of space and is planning to open 1,000 outlets by end 2007.
Source: Economic Times
12. Saturday, August 5, 2006 Reliance Retail advertisement for retail space receives overwhelming response
Reliance Retail received over 10,000 applications on its website on the first day of its advertisement for retail space. The company had advertised in 76 cities across India for retail space ranging from 3,000 to 3,500 sq ft on either lease or sale for its supermarkets and specialty stores.
The company is keen on working with small developers to rapidly grow the retail real estate in India. Using their company website, the company has eliminated the need for real estate agents and middlemen and is directly making contact with potential sellers.
Source: Financial Express
13. Saturday, August 05, 2006 Reliance Retail looking for 15 million sq ft of retail space
Reliance Retail has begun the second phase of its land acquisition spree in 24 states and union territories to acquire 15 million sq ft of space for hypermarkets and convenience stores. Besides these, the company would also like to purchase 100 million sq ft of land across the country for its rural retail centers and malls.
The company plans to build its land bank to be ahead of competitors such as Shoppers Stop and Pantaloons, which owns 3.5 million sq ft of retail space at present and is planning to increase it to 30 million sq ft by 2010.
Source: Business Standard
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