Retail insight as on 18th March 2010

March 18, 2010News for the Retail industry










Previous Issues



News: Apparel, Specialty, CDIT ...



Future Group acquires Shoprite store, to unveil new brand

Livemint

The Future Group, promoted by organized retail pioneer Kishore Biyani, on Tuesday bought the lone India franchisee store of Shoprite Holdings Ltd, South Africa's biggest grocery chain. Located at Mulund in Mumbai, the Shoprite store will be used to unveil the Future Group's new brand of stores over the weekend, a company executive said.





Vishal's true picture puffed up: Auditors

Business Standard

Debt-ridden Vishal Retail had overstated profits and under-reported losses, according to its auditors. In a 'limited review report' to the board of directors earlier this month, the auditors, Haribhakti and Company, said for the nine months ended December 2008, the company stated a net profit of Rs 48.93 crore instead of Rs 20.24 crore.





Major Brands to open 100 stores

FashionUnited India (blog)

Now luxury shoppers in cities like Ludhiana, Ahmedabad, Chandigarh and the like have something to cheer about. Major Brands India, franchisees for well-known international brands like Mango, Aldo, Nine West, Promod, Charles & Keith, La Senza, Okaidi, Aldo Accessories and Inglot is planning to open new stores in these cities.







Inox Leisure launches multiplex in Vishakhapatnam

Myiris.com

Inox Leisure announced the launch of the commercial operation of company`s new multiplex cinema theatre at Ramakrishna Beach Road, Vishakhapatnam. Inox Leisure is in an alliance with the Pantaloon group, a partnership that provides INOX preferential access to all real estate developments which Pantaloon takes up for its retail chain.





Vision Express store opens in Ahmedabad

Business Standard

Vision Express, the 50-50 joint venture between Reliance Retail and Pearle Europe, has opened its first Vision Express store for eyewear in Ahmedabad. While the retail chain has 46 stores across 18 cities in the country, the Ahmedabad outlet is the 45th outlet for eyewear by the company.





News: Food & Grocery, QSR ...



Subway to open 100 stores across Asia this year

Channel News Asia

Subway, the world's largest sandwich franchise, is looking to nearly quadruple the number of its outlets in Asia in the next five years. It's setting a target of more than 3,000, from about 800 now. Fred Deluca, Founder and President, Subway, said: "China and India are both growing at a pretty good clip. Both will add about 40 stores each this year."







Reaching high as the mountains

Business Line

When this retail brand with 800 SKUs under its private label decided to expand the range, the offering had to be different. Having covered most of the commodities and bakery products under its private label, South-based retailer Nilgiri's decided to take a contra approach for the launch of its offering of jams, chutneys and jellies. "We decided right away that our new private labels would not displace or fight for space with the Tier 3 or Tier 4 brands in the market. We wanted to compete with international brands on quality," says Vikram Seth, CEO, The Nilgiri Dairy Farm Pvt Ltd.





How green is my company

Business Standard

Save the environment is the latest brand promotion mantra. Idea Cellular, as part of its national green campaign, has partnered with coffee chains Barista and Cafe Coffee Day to eliminate paper-based menu and bill. At over 90 outlets of Barista and 75 Cafe Coffee Day outlets, visitors can download the menu cards and bills on their mobile phones through a unique mobile application.





Retail Trends



Smooth journey for Rs 475-cr Silk saree brand Nalli

Economic Times

It is literally a silk route retail chain that Nalli has carved from Kanchipuram to California. Starting out from a small room in with a single loom in the silk town of Kanchi to running a chain of 22 branches, the journey of the Rs 475-crore Nalli is almost as smooth as the silk it has been retailing since 1916.





'India's Luxury story is overrated'

Economic Times

The truth is, the wealthiest in India still carry a middle-class mentality. They are not conspicuous consumers and spend conservatively except for in weddings





Retail Insight



Lessons from Merchants That Know How to Innovate

KurtSalmon



Retailers in every segment--from grocery and consumer electronics to convenience stores--have been ramping up in-house product design and development functions. Their goal: to bring to market compelling new offerings bearing their labels or exclusive national brands with important product distinctions.