Govt plans to say 'no' to FDI in multi-brand retail
Economic Times
The government plans to expressly clarify that foreign direct investment (FDI) in multi-brand retail is no-go territory, dashing the hopes of Indian retailers expecting that the new rules announced earlier this year would allow them to bring in overseas partners and capital.
HyperCITY retail exits gourmet biz
Economic Times
Big Box retailer HyperCITY Retail has exited the gourmet retailing, Gourmetcity, citing it as an unviable business. A subsidiary of the Raheja group-led Shopper's Stop, HyperCITY had launched the gourment business in 2008 when it was headed by expat CEO Andrew Levermore.
Genesis Colors sells 12% to Henderson for $17 mn
Economic Times
Genesis Colors, the owner of luxury apparel label Satya Paul, has sold a minority stake to private Equity fund Henderson Equity Partners to raise money to fund the expansion plans of the retailer.
Designer plans
Business Standard
ITC entered the apparel retail market in 2000 with Wills Lifestyle. Cigarettes, it knew, was no longer a sunrise business and it needed to diversify into areas where strong brand values can be created. Apparel fitted the bill.
Spinning a yarn
Business Standard
Executives at S Kumars Nationwide Ltd (SKNL) take their clothes very seriously. Impeccable suits, crisp shirts and well-tailored trousers are the norm in its office at Worli, Mumbai. "We're the clothiers of the nation today and the world tomorrow," says Vice-chairman and Managing Director Nitin Kasliwal with quiet pride.
Retail Trends
Shopper's Stop, Vodafone launch Zoozoo merchandises
SamayLive
According to the partnership, Shopper's Stop has the exclusive rights to manufacture and retail official Zoozoo merchandises in specified categories across. The specified categories include T-shirts, kidswear, mugs, bed and bath accessories. The deal comes in the wake of the immense popularity Zoozoos gained during Vodafone's advertisement campaign.
Hungry for more, Subway embarks on expansion spree
Times of India
Subway, the American made-to-order sandwiches and salads chain, plans to double its outlet count in Kolkata by next year-end to cater to the city's growing appetite for health food.
Retail Insight
Global M&A: Outlook for Retail KPMG International
The retail industry is suffering. Declining GDP growth and falling personal disposable income have hit retail sales. An ongoing lack of consumer confidence, caused by the uncertain macroeconomic environment and fears of unemployment, is adding to the industry's woes. As the global economy starts to show signs of emerging from the worst of the recession, are retailers likely to pursue any kind of M&A strategy? An analysis of available data and KPMG insight suggests that there are some bargains to be had among distressed companies. The next couple of years should also provide opportunities for stronger retailers to use M&A to expand into new markets.
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