Retail Insight on 10th December 2009

December 10, 2009

News for the retail industry

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News

Fastrack eyes Rs 360 crore turnover in FY 2009-10 Business Standard Fastrack, a branded chain of retail stores from Titan Industries Ltd (TIL), has set a target of Rs. 360 crore sales turnover for the current FY 2009-10. The company, which just opened first new store in Nashik, is planning to open 38 new stores major cities across the country by March 2010. The company is also planning to add few more branded accessories, including helmet, footwear, jewellery and cellphones.

Rosebys set to expand in India indiaretailing.com UK's renowned specialist textiles and home furnishings retailer, Rosebys London is set to take its store count to 300 in India. After celebrating its first anniversary in India, Rosebys is set to invest Rs 170 crore to increase its retail presence and also to launch over 100 spa products.

Nilgiri promoters, Actis squabble over rights issue Economic Times Nilgiri, the over 100-year-old company and one of the best known food brands of the South, is grappling with a rift between its key shareholders. Serious differences have cropped up between the private equity investor Actis, which owns a majority interest in The Nilgiri Dairy Farm, and some of the members of the family that promoted Nilgiri.

Does retail audit in India face a credibility issue? Economic Times Yes: There are some fundamental issues that need robust solutions. The first one is samples. No: The authenticity of retail audit data is being questioned by companies these days as they do not match their shipment figures.

Retail Trends

Luxury back in style as economy recovers Livemint Retailers of luxury clothes and accessories are finally seeing signs of a recovery, even as India saw a surprise 7.9% economic growth in the second quarter. The luxury clothes and accessories market accounts for about 3% of the Rs1,750 crore organized retail market in India, where family-run stores are a dominant feature.

Retail Insight

Global Retail Loss Prevention Survey 2009KPMG Are retailers losing more than they should through stock shrinkage? It is a question that KPMG has been researching for several years now. And we believe the evidence is growing that shrinkage rates are higher than they need to be.