| Coming out in support of allowing foreign direct investment (FDI) in multi-brand retail sector, Minister for Commerce and Industry, Anand Sharma said that despite "sceptics and scaremongers'' predicting job losses, unorganised retail will actually grow and thousands of jobs will be created if the sector is opened up to foreign investments. He said that his department had received all inputs on the position paper floated on the issue and a inter-ministerial core group will hold discussions on it soon. |
|
|
| The Kishore Biyani-promoted Future Supply Chain Solutions (FSCS), a Future Group company, has bagged Hindustan Unilever (NYSE:UL) Ltd (HUL) as a customer and become a third-party logistics supplier to the FMCG behemoth. Targeting volumes to the tune of almost 25 tonnes a day from HUL, Future Supply Chain Solutions would be reaching its food and personal care brands from HUL's factories and warehouses to the retail outlets. |
|
| Prem Durai Exports, a Tirupur-based garment manufacturer, has acquired a controlling stake in Swiss leisurewear brand Switcher. The export arm of PGC Industries and group, Prem Durai Exports has been Switcher's supplier for over two decades. It sells approximately seven million garments in Switzerland alone and has over 1,150 corporate clients in Switzerland and European countries. In India, Prem Durai already sells at 600 retail points. They are in MBOs and large formats like Shoppers Stop. |
|
| Ethos Swiss Watch Studios opened its duty-free outlet at the Indira Gandhi International Airport's terminal 3. The outlet will house almost 15 Swiss watch brands in both fashion and luxury segments such as Omega, Chopard, Cartier, Longines, Edox, Tissot, and many more. Ethos Swiss Watch Studios is the only multi-brand retail chain present at airports, after having forayed into the space in 2008 at Bangalore International Airport. |
|
| Louis Vuitton has closed its seven-year-old store in New Delhi's Oberoi Hotel, due to space constraints, and plans to shift completely to Emporio by next year. Keen to expand, the company is also looking to add space beyond what it now has at Emporio store. "We are in an expansion mode and having a small store at Oberoi limited our growth. The other reason is that we get better footfalls at Emporio than at Oberoi. A luxury mall any day receives better footfalls than a hotel," said Tikka Shatrujit Singh, advisor to Louis Vuitton Chairman, Yves Carcelle. |
|
| Chinese consumer electronics company, Haier aims to ramp up its Indian turnover to Rs 900 crore this year, from Rs. 350 crore last year, mainly by expanding its presence through new experience zones and marketing campaign. Eric Braganza, President, Haier Appliances (India), said, "A total of 75 such stores would be opened across the country by Diwali, with two of those in Hyderabad and one in Vijayawada. By the end of next year, we will have 300 experience zones, and we expect a doubling of our turnover by then." |
|
| Koutons Retail (India), a value apparel retailer said that it is planning to raise funds through a public issue and/or on a private placement basis and/or qualified institutional placements. A meeting of the board of directors of the company would be held on September 4 to consider the same. |
|
| French fashion house Hermes, which operates in India in a joint venture with Khanna Retail promoted by Neelam Khanna, plans to roll out an India-centric fragrance by 2012. Hermes also plans to expand its retail presence with a boutique in Mumbai by next year. The brand opened its first boutique in New Delhi's Oberoi Hotel. |
|
| Retail players are planning to expand but with caution. It seems the slowdown of 2008-09 is still weighing on their minds. Most companies like Shoppers Stop, Spencer's Retail, Madura Garments and Aditya Birla Retail are shifting to a revenue sharing model, where a retailer pays a share of the revenue a store earns every month to its landlord. This model helps retailers to offset rentals, at least in the initial months of opening an outlet, when the business is not profitable and footfalls are lower. |
|
| When Grass Roots Group Plc entered India three years ago, it was optimistic about the prospects of mystery shopping, a way of anonymously evaluating the quality of services offered in retail establishments. Grass Roots has now realized that mystery shopping does not have many takers in India. In fact, not just Grass Roots but several other international and Indian companies that set up shop to serve modern retail are disappointed with the way the business has evolved. |
|
| The long wait has finally came to an end with the Organising Committee launching the official merchandise for the Commonwealth Games with 29 types of products up for sale across Delhi. "We will start with a single store in the OC headquarters, as well as four mobile vans that will take the merchandise to the doorsteps," said Suresh Kumar, Chairman, Premier Brands Limited (PBL). "From September 6, the products will also be available for online sales at premier brands.inc. September 15 will see the launch of high-end products," he added. |
|
|
|
