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 our weekly updates.
India Retail News: Investments, New Entrants and More
Wal-Mart formally applies for starting operations in India
Wal-Mart filed an application with the Reserve Bank of India (RBI) to start operations in India. The first office will be in Bangalore and will be for conducting market research and business development for their Indian operations.
Currently, Wal-Mart has a Global Sourcing office in Bangalore, employing 80 people and making annual purchases of USD 1 billion.
Source: The Economic Times
S Kumars set up retail division
S Kumars Nationwide (SKNL) has entered organized retailing under its 100% owned subsidiary, Brand House Ltd (BHL). The company will be investing approximately Rs. 90 crore into the new business in the next two years.
BHL will be headed by Govind Mirchandani, former chief of Reid & Taylor and head of Arvind. According to sources, the company has been talking to brands such as CKNY, Dolce & Gabbana and Dunhill. Apart from bringing in international brands, BHL will be launching 12 in-house brands also.
Source: The Economic Times
Reliance talent hunt
The entry of Reliance Industries Ltd in retail and the company’s immediate need for hiring staff to fill 25 CEO posts in 700 cities has put major retail chains such as Shoppers Stop, Pantaloons and Piramyd on alert. The company is looking to fill several senior positions from outside India.
Intra-Industry Movements
Piramyd Retail Head Krish Iyer will be stepping down after completing his notice period.
According to sources, RPG’s Retail VP-Merchandising, Radhakrishnan will be leaving the company for a job in Diamond Trading Company (DTC).
Source: DNA, Sify
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