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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.
June 11th - 17th India Retail News: Gap, JC Penny,
Target, Malls and More
1. Tuesday June 13, 2006 Lifestyle adding 32 new stores
Lifestyle International Pvt. Ltd. announced it will be opening 32 stores over the next three years. Lifestyle’s parent company is the Dubai based retail chain Landmark Group. The company expects its turnover to increase to Rs. 5.4 billion next year and increase its market share from the current 3% to 15% by 2010. At the opening of Lifestyle’s first store in Gujarat in Ahmedabad’s Gallops Mall, Kabir Lumba, Executive Director, Lifestyle International said that the company will be expanding to other locations in the state, such as Surat as well.
Source: The Hindu Business Line
2. Tuesday, June 13, 2006 Condor Group has plans for malls and multiplexes
Dubai based Condor Group is planning to develop 5 major projects in Thiruvananthapuram, with an investment of Rs. 2 billion. The plans include a shopping complex along with a multiplex, hotel and residential complexes comprising of 300 apartments. The first of these residential complexes, Marigold is expected to be ready in 2007.
Source: The Hindu Business Line
3. Tuesday, June 13, 2006 Pantaloon subsidiary forms JV with Lee Cooper
Indus League, a subsidiary of Pantaloon Retail, will be forming an equal equity joint venture with Lee Cooper International enabling it to distribute and retail its ‘Famous Basics’ brand of eyewear and footwear, effective January 2007.
Source: Economic Times
4. Wednesday, June 14, 2006 Global retailers increasing sourcing from India
Several high profile global retailers such as Wal-Mart, GAP, JC Penney and Target are stepping up their sourcing volumes from India. The increase is especially significant due to quotas being dismantled since January 2005, with effects filtering down to 2007-08, by when most companies will have selected vendors.
Currently, these companies account for approximately 50% of total outsourced apparel from India in 2005. In 2005, Target sourced goods worth $120 million and plans to increase it to $300 million, while GAP sourced goods worth $500 million and plans to reach $650 million this year.
Most companies are limiting sourcing from fewer countries, focusing on India for value added products and China for large volumes. According to Subramaniam Ganpathy, director TNS India, “There is definitely a shift towards these two countries. Right now, companies would still be in the process of shortlisting potential suppliers. By ’07-08, the sector could see economies of scale.”
Source: The Economic Times
5. Wednesday, June 14, 2006 US pizza chain Papa John’s sees India as growth market
US based pizza chain Papa John’s views India as a priority market, where the company sees most of its future growth. The company plans to increase its outlets from the current 2 to 500 in the next 10 years, according to Nigel Travis, chief executive of Papa John’s Pizza International Inc.
India is seen as a priority market due to rising salaries and changing cultural traits such as eating out. Put together, there are less than 300 pizza outlets in the country, including those of Domino’s, Pizza Hut, Pizza Corner and local chain Nirulas.
The other 5 countries that the company will be focusing on are China, Russia, South Korea, Mexico and the UK. At present the company has 2,620 outlets in the US and 2,924 in 22 countries across the globe.
Source: Reuters
6. Wednesday, June 14, 2006 Malls: The bigger the better
In the future, malls covering 300,000-350,000 sq ft are not going to make the grade at all. The new trend in mall is to have integrated ‘market cities’, which could cover up to 1 million sq ft of retail space. According to analysts, these malls would be a cross between traditional village haat and organized mall-based retail format.
Several of these ‘super-size’ malls will become operational by the end of the year. Pantaloon Retail has designed 3 such large formats, covering 1-2 million sq ft each. Sources say that the format will include hotels and entertainment complexes, besides the regular retail spaces, food courts and multiplexes.
Unitech Group has tied up with International Amusement to create “E-city” in Noida. The complex covering 147 acres will have 2 shopping complexes, a multiplex and an amusement park. DLF, Ansals and I-city Infrastructure are working to develop similar complexes.
Source: Economic Times
7. Wednesday, June 14, 2006 Vishal Group expanding in Punjab
Delhi based retail chain store, Vishal Retail Ltd. is expanding its operations in Punjab. The company will soon be opening its third store in the state in Amritsar, after the success of stores in Ludhiana and Patiala. Next on the list are stores in Chandigarh and Jalandhar.
The company will be adding 19 stores by mid 2007, including those in tier II cities, to have a total of 50 stores. Vishal Group had a turnover of Rs. 2.88 billion in 2005-06 and aims to cross Rs. 6.5 billion for the 2006-07 financial year and Rs. 50 billion by 2010.
Source: Business Standard
8. Wednesday, June 14, 2006 Reliance Retail’s West Bengal plans
Mukesh Ambani’s retail plans are receiving a favorable response in West Bengal, unlike Punjab where he is being opposed by both farmers and the government. The company is conducting talks with several real estate players such as Harsh Neotia.
Reliance is also expected to finalize acquisition of land for warehousing as part of its supply chain infrastructure. The company has already formed agreements with farmers for supply of fruits and vegetables through buy-back agreements.
Source: Daily News & Analysis
9. Thursday, June 15, 2006 GHCL finalizing $50 million UK acquisition
Sanjay Dalmia’s textile and chemicals company, GHCL is finalizing the purchase of Rosebys, UK’s largest home textiles retailer for $50 million. Rosebys currently has 300 stores in the UK, with an annual turnover of around $200 million. LDC, a private equity division of Lloyds TSB Group owns 73.5% of the company is negotiating with GHCL.
GHCL’s recently acquired Dan River, the US’s third largest textile company, ensuring its change from a chemicals and home furnishings company to a global player in the textile industry. The company is looking at other home furnishing companies in Europe to acquire.
Source: Economic Times
10. Friday, June 16, 2006 Luxury brands taking baby steps in India
International luxury brands are entering India cautiously. Versace was the latest international luxury brand to open in India. Others that have opened recently due to the government’s permission to allow 51% FDI in single brand retailing include Hugo Boss, Burberry, Cartier, Chanel, Louis Vuitton and Tommy Hilfiger. Gucci and Giorgio Armani have plans to open stores in the country in the next 18 months.
The luxury good market in India is estimated to be worth Rs. 15-20 billion ($326-$435 million), and expected to grow by 15-20% per year in the next 5 years. LVMH and Fendi are both planning to invest large sums in the country to set up manufacturing and distribution units.
The most significant factor driving this growth is the rise of the number of high income households caused by a robust economy. According to analysts, in 2006-07 there will be 6 million rich households and those with an income of $22,000 would increase to 91 million by end 2006. Other factors such as the enormous size of the population below 25 years of age, rising salaries and easy availability of credit are also fueling this growth.
Some of the problems that luxury brands are facing in India are the high price as well as lack of retail space in high streets and up-market malls, and high import duties.
Source: Reuters
11. Saturday, June 17, 2006 Cottons by Century planning to expand
Century Textiles’ apparel brand Cottons by Century announced that it will opening 100 outlets in the country by March 2007. The company’s turnover is expected to reach Rs. 500 million by the end of the year. Head of Apparel and Retail Apparel, Subrata Siddhanta, said that the company was aiming for a 200% growth rate.
Currently, the company has 49 exclusive brand outlets (EBOs) and is sold in 45 multi-brand outlets (MBOs) in 25 cities in India. Besides expanding both these formats, the company will also focus on corporate and institutional orders as well as e-business. With 1.5 stores opening each week, the company hopes to cover metros as well as mini-metros.
Source: The Hindu Business Line
12. Saturday, June 17, 2006 Raymond enters childrenswear segment
Raymond launched its childrenswear brand Zapp! in Ahmedabad. Zapp! will cater to the 4-12 age group and offer apparel as well as accessories, such as bags and footwear. The company will be setting up 10 more stores in the country. Zapp! has acquired an exclusive license for the Superman logo for India and will sell genuine Warner Bros. Superman apparel and accessories.
The company aims at providing a fun shopping experience for kids and will have a Zapp Club as part of its customer relationship management program. A website for Zapp! will have gaming, painting and designing on the web, along with blogs and chat rooms for members.
Source: The Hindu Business Line
13. Saturday, June 17, 2006 Landmark Group opens its second Max Retail store
Dubai based Landmark Group opened its second Max Retail store in Gallops Designer Mall in Ahemdabad. Its first store opened earlier in Indore. The company had earlier announced that it will be opening 100 stores in the country over the next five years.
Landmark has positioned Max Retail to focus on the middle-income group, while its other chain Lifestyle focuses on the higher-income group. Max Retail stores will cover approximately 17,000 sq ft of space, in a standardized layout across the country.
Source: The Hindu Business Line
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