Indian Talent, Global Content
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Indian Talent, Global Content |
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March 2010: What's in the breeze |
News Update from the Retail Scene in India
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. Retail News 18th June - 24th June 2006 For other weekly updates click: Weekly Retail Update
India Retail News: ASSOCHAM, Bharti, Lladro, TGIF, Fendi, Escada and More1. Monday, June 19, 2006 K Raheja Group’s HyperCITY will soon be opening 35 more stores across the country, with the first ones in Mumbai and Kolkata, according to Andrew Levermore, CEO HyperCITY Retail (India). The first HyperCITY store opened in the Mumbai suburb of Malad in May. The company will soon be identifying sites for both purchase and lease in Tier II cities, such as Lucknow, Ludhiana, Coimbatore, Mangalore, Jaipur and Aurangabad. HyperCITY aims to be anchor stores in malls with over 600,000 sq ft of retail space only. Source: Economic Times 2. Monday, June 19, 2006 Pantaloon and Big Bazaar have opened in the highly competitive market of Saurashtra, by opening at the Iscon Mall in Rajkot. Sadashiv Naik, western region head for Big Bazaar & Pantaloon Retail (India) said that the Rajkot region was the company’s second destination after Ahmedabad. Pantaloon aims as opening stores in all cities with over a 500,000 population. The stores will stock over 160,000 products all available at prices below the MRP and provide tremendous employment opportunity for the local regions, employing 90-95% of its staff from local areas. Source: Business Standard 3. Monday, June 19, 2006 Shoppers’ Stop announced that it will be expanding its brands to include several premium brands in its stores. The company plans to introduce Dubai based gold and diamond jewelry firm Damas along with several other high street brands such as GANT and Nautica, to cater to all price points. Prices on average are expected to go up by eight percent, although the bulk of the products in the store will still be mid-priced. On private labels, the company expects these to not exceed 25% of its product range. At present, private labels account for 20% of the store’s apparel range. Source: Business Standard 4. Monday, June 19, 2006 The Associated Chambers of Commerce and Industry (ASSOCHAM) have submitted a paper to the Commerce and Industry Ministry, stating that “an ‘overwhelming majority’ of domestic firms it had contacted were for allowing 49 per cent FDI in multi-brand retailing in a calibrated manner.” The organization proposed this approach so that domestic retailers in the organized sector got 2-3 years to tackle the competition from international companies. ASSOCHAM further stated that the government should consult domestic retailers before making any policy announcement. Source: Financial Express 5. Tuesday, June 20, 2006 Raymond will be launching 10 Zapp! stores in major metros by March 2007. The collection will include casual and formal apparel and accessories for kids from 4-12 years of age and prices in the Rs. 200-750 range. The first Zapp! store opened in Ahmedabad last week and plans to open in the metros and Pune and Bangalore next. According to Shreyas Joshi, President Raymond Apparel, the children’s wear segment, including both organized and unorganized, is estimated to be worth Rs. 270 million. Zapp! plans to dominate the branded kids wear market in the country soon. Source: Business Standard 6. Wednesday, June 21, 2006 Reliance Industries announced that it will be opening multiplexes in some of its larger malls in the country. The company has not decided as yet whether it should open its own brand of multiplexes or tie up with an existing chain. Reliance has planned to open multiplexes and food courts to attract more customers. The company will be opening its first mall on SG Highway in Ahmedabad called Iscon Mall by Diwali 2006. The mall will cover 200,000 sq ft in space and in investment of Rs. 1 million. Following soon after will be malls in Surat and Jamnagar. Reliance plans to set up 30 malls in 25 cities in the state of Gujarat over the next few years. Besides malls, Reliance will also be setting up supermarkets and specialty stores, starting with 35 outlets of 2,000 sq ft size, for fruits and vegetables in Ahmedabad. Source: Economic Times 7. Wednesday, June 21, 2006 Reliance Industries announced that it would be investing Rs. 15-20 billion ($326 million-$435 million) in building its agro-retail business in the state of West Bengal. Mukesh Ambani, chairman of Reliance Industries, said, the company’s "primary focus is going to be in terms of really transforming the agriculture sector in West Bengal”. Source: Economic Times 8. Wednesday, June 21, 2006 Reliance Retail has reportedly hired S Ramesh, sourcing head for Wal-Mart in India, as its own head of sourcing. S Ramesh had worked for Wal-Mart for 4 years and before Wal-Mart he worked with Pacific Resource Export Ltd, a Hong Kong based company, as a buying agent. Source: Daily News & Analysis 9. Wednesday, June 21, 2006 Bharti Enterprises has been negotiating with the world’s top three retailers, Tesco, Wal-Mart and Carrefour and will be announcing its retail plans in the next 90 days. The company will also be announcing whether it will own real estate or use a leased land model of operating. Sunil Mittal, CMD for the Bharti Group, said that they were not too keen on the real estate method due to high prices and will be announcing its partners and operating method in the next 3 months. Source: Business Standard 10. Thursday, June 22, 2006 The CEO and original founder of Crossword Book Stores, R Sriram has resigned to start his own consultancy firm dealing with retailing, publishing and consumer space. He will remain as CEO of Crossword till August and continue to work as a consultant to Crossword in the future as well. While there has been speculation that Sriram will be joining Reliance Retail, he has denied it, although he did admit that the company had approached him. Sriram is the fifth high profile person to leave Crossword, after Ajit Joshi, operations head, Adesh Pandey, regional controller, Vijay Kashyap and Kumar Rajgopalan, COO. Source: Economic Times 11. Thursday, June 22, 2006 Giorgio Armani’s partnership with Reliance Industries is close to being finalized. According to sources, Reliance will be the local franchise for the Armani brand, which will be sold through exclusive boutiques. In the initial phase, only two of the popular lines; Giorgio Armani and Emporio Armani will be brought to India, both targeting young professionals in India. Another company that Reliance Retail is said to be targeting is Manolo Blahnik. The luxury division of Reliance is likely to be headed by Bijou Kurien, former COO of Titan Industries. Source: Economic Times 12. Thursday, June 22, 2006 According to sources, Reliance Industries will announce its retail plans at its AGM on June 29. The company had announced its entry to the retail scenario in India earlier this year, stating it would invest $750 million, although sources say the amount is likely to be closer to $5-6 billion. Reliance Retail will be making its entry first in 22 cities in Gujarat, Punjab, West Bengal, Andhra Pradesh and Maharashtra. The four metros, Delhi, Mumbai, Kolkata and Chennai are then next on the list. Source: Economic Times 13. Thursday, June 22, 2006 Luxury retailers from across the world all seem to be heading to India and some are also purchasing stake in their Indian entities.
The luxury goods market is estimated to be Rs. 150-200 million and grow at a 15-20% rate each year. McKinsey estimates that the Indian market for consumer goods could hit $400 billion by 2010, which would make it one of the world’s five largest markets. Source: The Hindu Business Line 14. Friday, June 23, 2006 Dabur India has bought up 1% of stake in Vishal Mega Mart, a north Indian retail chain. Earlier Bennett Coleman & Co had purchased 12% stake in the company. Vishal Mega Mart is planning an IPO and wants to offload 20-25% stake through private issue. Source: The Hindu Business Line
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