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Retail News, Insight and Jobs
May 18, 2013
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  News - Headline, Apparel, Specialty .. 
IKEA to double purchases of India-made products for its global market - Livemint

IKEA to double purchases of India-made products for its global market
Swedish furniture retailer IKEA plans to double purchases of India-made products for its global markets, as it seeks to establish its first stores in the country after receiving cabinet approval this month for a Euro 1.5 billion (nearly Rs 10,575 crore today) investment plan, a company executive said. IKEA currently sources some $450 million of goods from India, including carpets, rugs and textiles that make up about 75% of total purchases. Facebook Twitter Linkedin Email

Future Retail's value formats continue to see strong growth, home retail still a drag
Future Retail's (formerly Pantaloon Retail) value formats continue to see strong growth, but lifestyle, home retail same-store sales declined in the Jan-March period. Home retail business in particular has continued to be a drag on the overall growth, with sales declining now for the last four quarters. Same-store sales growth (sales at stores that are open for at least one year) at its lifestyle format, which includes Central, Brand Factory and Planet Sports, declined to 9.6 percent last quarter, from 12.7 percent in the Oct-Dec period. Facebook Twitter Linkedin Email

Back-end infra rule just for first tranche of FDI - Financial Express

Back-end infra rule just for first tranche of FDI
Financial Express
Foreign multi-brand retailers like Wal-Mart, Tesco and Carrefour can heave a sigh of relief. A DIPP (Department of Industrial Policy and Promotion) official has reportedly said on Monday that the minimum investment requirement of 50% of the total FDI brought in to be invested in the back-end operations would be applicable only to the first tranche of investment; in subsequent tranches, the companies will be free to invest in the front-end or back-end as per their business plan. The norm will apply to greenfield as well as brownfield retail ventures. Facebook Twitter Linkedin Email

Future Retail's restructuring almost over - Livemint

Future Retail's restructuring almost over
Future Retail Ltd is undergoing a multi-pronged restructuring exercise to simplify its business structure. Three companies will operate different businesses: Future Retail will house value retail (hypermarkets and supermarkets), Future Lifestyle Fashions Ltd will house fashion retail, and Future Ventures India Ltd will host the consumer products businesses. The restructuring process is nearing completion as only the merger of Future Value is pending. Facebook Twitter Linkedin Email

Wal-Mart will not sign Bangladesh pact, will make own safety plan - Economic Times

As US retailers face mounting pressure to join a landmark plan to improve factory safety in Bangladesh, newly found documents indicate that apparel had been produced for Wal-Mart at one of the operations in the factory building that collapsed last month, killing more than 1,100 workers. Saying it was unwilling to sign the broad safety plan embraced by more than a dozen European companies this week, Wal-Mart said its factory monitors would "conduct in-depth safety inspections at 100%" of the 279 factories it uses in Bangladesh and publicise the results on its website. Facebook Twitter Linkedin Email

PE firms eye Future Ventures' stake in Biba, AND brands; six firms in the race - Livemint

PE firms eye Future Ventures' stake in Biba, AND brands; six firms in the race
Several private equity (PE) firms have shown interest in Kishore Biyani-led Future Ventures India Ltd's stake in apparel brands Biba and AND, said two people familiar with the matter. Both said the brands could jointly fetch Future Ventures Rs 450-500 crore. PE firm names include Norwest Venture Partners (NVP), L Capital, General Atlantic and Sequoia Capital, they added. "We are evaluating it. It is in a very preliminary stage. We could consider investing in one or both brands," said one investor who is looking at the transaction. He confirmed that there were at least six PE firms in the race. Facebook Twitter Linkedin Email

Carrefour unhappy over 'tough' FDI policy riders such as 30% SME sourcing, 50% backend investment, state approvals
Business Standard
French retail chain Carrefour could review its plans to set up stores in India, if some of the "tough" policy riders are not relaxed. The Euro 80-billion chain, the second-largest in the world after Wal-Mart, is learnt to have sent feelers to the French government, as well as some key Indian ministries, expressing its "reluctance" to invest here due to uncertainties around the foreign direct investment (FDI) policy for multi-brand retail especially regarding the 30 percent mandatory sourcing from small and medium enterprises, the 50 percent investment in back-end infra, not allowing FDI in e-commerce, and getting state-wise approvals. Facebook Twitter Linkedin Email

PE Fund SAIF Partners moves court; accuses Catmoss promoters of cooking books
Economic Times
Promoters of the embattled kidswear brand Catmoss have been accused of siphoning off funds. Private equity investor SAIF Partners, which holds 49 percent stake in the company, has approached the Delhi High Court seeking to restrain the company from such activities as selling company assets and destroying its books; it has also, in its plea, accused company promoters including its MD Ashwani Chawla of fraudulently raising money without the PE firm's necessary consent and alleged that they are doctoring the kidswear retailer's books and fudging the minutes of meetings. Facebook Twitter Linkedin Email

Flipkart, Jabong and others sack employees, as focus turns to profitability
Economic Times
Online retailers are handing out pink slips in large numbers as they shift attention to controlling costs from acquiring customers, several industry executives said. Some companies sacking staff are Flipkart and Jabong, which are among the biggest in the business, illustrating the growing pain in India's e-commerce sector. Facebook Twitter Linkedin Email

High realty cost, elections impacting entry of foreign retailers - Livemint

Foreign retailers are deferring their plans to enter India by a year or two because of high real estate costs and the impending elections in 2014, real estate consultant Jones Lang LaSalle (JLL) said in its quarterly report titled Asia Pacific Property Digest. Rents in India account for 9-15% of retailers' revenue, higher than the global average of 4-10%, and is a major hurdle for cost-sensitive international retailers. according to the report. Facebook Twitter Linkedin Email

  News - Food, QSR 
Tepid response to Diageo's open offer for United Spirits
Business Standard
Diageo Plc's Rs 5,441-crore open offer for acquiring 26 percent stake in Vijay Mallya-led United Spirits has come a cropper with the offer eliciting a tepid response from public investors. The offer was part of the nearly USD 2-billion deal that would see Diageo snapping up majority stake in United Spirits.
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Wal-Mart's 1Q profit edges up slightly, sales disappoint - Economic Times

Wal-Mart's 1Q profit edges up slightly, sales disappoint
Economic Times
It was a tough quarter for Wal-Mart Stores Inc. The world's largest retailer reported on Thursday that its first-quarter profit edged up slightly, but the company struggled with a sales slump in its namesake business. The company, based in Arkansas, blamed a payroll tax increase, delayed tax refunds and bad weather for profit and sales results that missed Wall Street expectations. Facebook Twitter Linkedin Email

Tesco wants to focus on food retail in India - Times of India

Times of India
The world's third largest retailer, Tesco Plc has said that it hopes to generate almost 85% of its turnover by selling food products in the country, although the UK giant indicated that a decision was still months away. Tesco Chief Executive Officer Philip Clarke has sought clarifications on three issues pertaining to the sourcing clause and back-end infrastructure. Facebook Twitter Linkedin Email

KFC China sales crash 36% in April on bird flu fears
Hindu Business Line
Sales of fast food giant KFC in China slumped an estimated 36 percent last month, according to parent Yum! Brands, as consumers shunned chicken due to the H7N9 bird flu outbreak in humans. For Yum overall, which includes other restaurant chains such as Pizza Hut, Chinese same-store sales fell an estimated 29 percent in April, according to an exchange filing on Friday. Facebook Twitter Linkedin Email

Future Group to launch World Market in September - Hindu Business Line

Future Group to launch World Market in September
Hindu Business Line
Come September, Kishore Biyani-led Future Group's cash and carry venture may go live. Future Group, in collaboration with Fung Properties and Bangalore-based real estate developer Sattva Group, is firming up plans to launch the World Market near Bangalore. Spread on a 10-acre parcel of land, World Market is being built on the lines of YIWU commodity market in China and Dragon Mart in Dubai. Facebook Twitter Linkedin Email

Subway spreads on veggies to woo India
Hindustan Times
Subway, the US-based restaurant chain that sells sandwiches and salads riding on a wave of calorie-conscious consumers, is now looking at increasing its vegetarian options to suit the Indian palate; it plans to grow the number of outlets to 4,000, over a decade, from the current 350. The global eatery chain also plans to open 'pure vegetarian' outlets outside religious places. Facebook Twitter Linkedin Email

After completing more than a year in India, Australia's Di Bella Coffee chain plans to enter the lounge format with its first store in south Mumbai. The Di Bella Lounge will go beyond just serving coffee liqueurs and will be the first coffee chain to include alcohol in its menu. Facebook Twitter Linkedin Email

Most retailers don't even have a multi-channel presence yet, omni-channel seems a far way off
Business Standard
Not too long ago, it was enough for brands to have a presence across a range of channels, online and offline. Customers today are bouncing in and out of multiple channels across different devices. In such a scenario, simply having your fingers in each of these pies isn't enough to own the customer. Companies need to build an integrated communication strategy, that will straddle all the channels--call centres, direct mail and catalogues, internet, mobile, physical selling locations and social media--in other words, an omni-channel experience. Facebook Twitter Linkedin Email

Jewellers in Chennai's

Jewellers in Chennai's "golden furlong" claim 85-100% rise in sales on Akshaya Tritiya
Hindu Business Line
It's 7.30 in the evening on day two of Akshaya Tritiya. People are still flocking to jewellery stores on the Usman Road stretch in T.Nagar, better known as the 'golden furlong' of the shopping district. According to sources in the jewellery retailers circle, T. Nagar alone sells close to two tonnes of gold during Akshaya Tritiya. While many retailers say sales this year would at least be 80-85 percent more compared with last year, some say it would be more than 100 percent. Facebook Twitter Linkedin Email

No taboo on FDI in brownfield back-end infra in multi-brand retail: Anand Sharma
Business Standard
Clearing the air on the government's position on some conditions in allowing foreign direct investment (FDI) in multi-brand and single-brand retail, Anand Sharma, minister of commerce, industry and textiles, says there is no restriction on global retailers acquiring existing back-end infrastructure. Edited excerpts: Facebook Twitter Linkedin Email

Glittering shopping malls across India become hostage to gloom as vacancy levels go up - Economic Times

Economic Times
Malls were supposed to be the symbols of prosperity in India's 'boomtowns'. Instead they have turned out to be edifices of gloom. Notwithstanding their bright facade, these half-empty buildings in smaller towns reveal the other side of the India story, as vacancy levels rise and consumption remains low. Facebook Twitter Linkedin Email
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Bangladesh factory safety deal hailed as landmark
Two global labour umbrella groups have praised top retailers for joining a drive to make Bangladesh's garment factories safer, after 1,127 people died in a factory collapse last month. "This accord is a turning point. We are putting in place rules that mark the end of the race to the bottom in the global supply chain," said Philip Jennings, head of UNI Global Union. Facebook Twitter Linkedin Email
Facebook Twitter Linkedin Email

More Stores or Sales- Which Way Retailers Should Go
More Stores or Sales- Which Way Retailers Should Go (Premium) - View Free Sample
A prudent advice for retailers aiming for profitability is that they should not just keep on opening more and more stores, rather should first focus on increasing the footfall, thereby generating more same-store sales. Facebook Twitter Linkedin Email

Eye for Retail
Eye for Retail (Premium) - View Free Sample
Himalaya Optical was started with one retail outlet in karachi (now in Pakistan) in 1935 by Mannalal Binani. After partition in 1948, Himalaya Started its second innings in india with a retail and wholesale division In Bowbazar,Kolkata . Facebook Twitter Linkedin Email

Oil is Well With Rice Bran
Oil is Well With Rice Bran (Premium) - View Free Sample
Retailers and manufacturers see a huge potential in rice bran oil owing to India being the second largest producer of rice, and the consumer's preference for more healthy edible oil variants. Facebook Twitter Linkedin Email

Gobol- Opportunity in Electronic Surplus Market
Gobol- Opportunity in Electronic Surplus Market (Premium) - View Free Sample
Gobol supports sales of surplus, seconds and refurbished goods of consumer durable and it gadgets. It has witnessed 100 percent month-on-month growth of its six stores in the delhi-ncr region. Facebook Twitter Linkedin Email

Rebellious Style (Premium) - View Free Sample
Designed by JGA, Scamp and Scoundrel is a unique retail destination located in Miracle Mile Shops at Las Vegas, especially for style mavens and rebellious ingénues. The unique environment that reflects the "found and gathered, yet curated" style is aptly captured in the brand outlet. Facebook Twitter Linkedin Email

High Fashion at Value Pricing
High Fashion at Value Pricing (Premium) - View Free Sample
Launched by Provogue india and taken over by the Apple group of companies and Vemb Lifestyle, Promart targets small towns in the country by offering discount schemes (from 25 to 60 percent off) throughout the year. Aiming at the youth of the country, the company opened their first store at Ahmedabad in November 2011. Facebook Twitter Linkedin Email

Retail CEO- The Business Man Juggler or Pied Piper
Retail CEO- The Business Man Juggler or Pied Piper (Premium) - View Free Sample
Performing various other tasks including customer service, buying and merchandising, a retail CEO has some internal functions as well such as managing the logistics and grooming the company's CFO . Facebook Twitter Linkedin Email

The Big Box Format
The Big Box Format (Premium) - View Free Sample
In India, Hypermarket is an amalgamation of modern retail and reasonable price offering. Thus, the format has a high appeal with the middle and upper middle classes of the country, who seek a higher level of shopping experience which comes with a lot of convenience and value, addressing all their needs in one place. Facebook Twitter Linkedin Email

8 Social Media Tips For The Retail Industry

The retail industry has consistently been a frontrunner in terms of the adoption of social technologies. Inspired by the success of online retailers like eBay and Amazon, traditional retailers have demonstrated a degree of openness towards new technologies, social media included, that is rivaled by very few industries. This paper outlines eight simple steps that will allow companies in the retail industry to build their strategies in order to best take advantage of the opportunities presented by social media in all facets of their business.

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Building A Digital Culture: How To Meet The Challenge Of Multichannel Digitization
Many traditional retailers and other customer-facing businesses have installed new digitally enabled organizations, processes, and systems. Their goal is to remain competitive by building multichannel experiences. However, even well-designed systems can be undermined by a company's established culture. The result is a divided company: one part moving into the future, the other clinging to traditional sales channels--and a delay in the much-needed transition to a multichannel operating model. Facebook Twitter Linkedin Email

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