Retail Insight on 5th August 2009

News


Subhiksha moves court, seeks trade-off with lenders
Economic Times
As the deadline to complete the Rs 700-crore plus corporate debt restructuring (CDR) process has lapsed, troubled retailer Subhiksha is now knocking the court's doors to save itself from liquidation. The company has approached the Madras High Court with a compromise formula and has filed a petition under Section 391 of the Companies Act, according to multiple sources close to the development.



Opening Shortly at Ansal Highway Plaza Sonepat Click here for more details
Maruti fit-outs under full swing, will be operational shortly. McDonald's has done 70% of the fit-outs and is nearing towards the operational opening of the store. Bikanerwala will be starting fit-outs very soon.


Pantaloon realignment not happening right now: Biyani
Business Standard
Future Group has put on hold a planned realignment of Pantaloon Retail India (PRIL) due to legal issues related to the government's FDI policy, Chief Executive Officer Kishore Biyani said today. Biyani refused to give a time frame targeted for the realignment, but asserted the company's intention to implement the move.


Future Ventures IPO in near term to raise Rs 1000cr: Biyani
Times of India
Future Ventures is planning to come up with an Initial Public Offer in the near term with an aim to raise Rs 1,000 crore, company founder Kishore Biyani said.


Red Tape to invest Rs 100 cr in two yrs
Indian Express
Premium men footwear and fashion lifestyle brand Red Tape is planning to invest Rs 100 crore by the end of next year as a part of its plan to treble the number of its exclusive outlets in the country. The Mirza International Ltd's subsidiary, Red Tape, is also looking to achieve a sales of Rs 100 crore by 2010-11 on the back of its retail chain expansion.


The Loot in tie-up with TCS, plans 200 outlets by March next
Hindu Business Line
Multi-brand discount chain The Loot on Tuesday said it has entered into an agreement with IT major Tata Consultancy Services (TCS) under which, the Tata Group company will manage the back-end and software support system for the retail chain. The Loot is also ramping up its retail operations by aiming at a total of 200 outlets by the end of this fiscal, besides, launching two more private labels as it plans to achieve a turnover of Rs 125 crore this fiscal.


Ratnagiri Impex plans retail outlets
Hindu
Ratnagiri Impex Pvt. Ltd., distributors of agricultural equipment imported from Europe, plans to open 70 retail outlets across the four southern States through the franchisee route. The chain will be under the Agrimart brand.


Retail Trends


Retail spreads wings to ride festive wind to revival in Calcutta
Calcutta Telegraph
After a season of shutdowns, a slew of big brands is braving the downturn to roll out expansion plans in anticipation of a festive turnaround for retail. Pizza Hut, KFC, Subway, Fabindia, Sony Centre, Kaya and Prime Watch World are among the 15-odd brands setting up shop at South City Mall, on Prince Anwar Shah Road, over the next month.


Yes, Indians are paying through the nose for food
Hindustan Times
A back-of-the-envelope comparisonof current retail and wholesale prices (as on July 22, 2009) - released by India's Price Monitoring Cell - with that of prices prevailing in October 8, 2008, reveals that the domestic food bill of urban families would have gone up by at least 20-25%.


Retail Insight

Case Study: One-on-one Training Directly Impacts Customer Service at The Container Store
APQC
Imagine the difference in service between a retail company that delivers 185 hours of training to employees in their first year and the average retailer that provides a mere seven hours of training. Although customers at The Container Store may never realize how the numbers stack up, they definitely appreciate the outcome - superior customer service.