April 15, 2010News for the Retail industry
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News: Apparel, Specialty, CDIT ...
Wal-Mart plans India ’big box’ store drive
AFP
Wal-Mart, the world’s number one retailer, opened its second wholesale store Tuesday in Chandigarh in the northern Punjab state after entering the Indian retail market last May as part of an international expansion. It plans to open at least 10 more wholesale stores in the next three to four years, Scott Price, Asia chief executive of US-based Wal-Mart, told AFP in an interview.
Loot to raise Rs 100 cr to support growth plans
Business Standard
Discount store chain The Loot today said it is in the process of raising Rs 100 crore to support its growth plans. The company aims to raise Rs 100 crore partly through bank loans and a host of private equity players over the next 2-3 years, The Loot Managing Director Jay Gupta said.
London’s Tie Rack plans bigger presence in India
mydigitalfc.com
The Tie Rack, a London retailer for men and women’ accessories, plans a major expansion in India by opening 150 selling points by 2012.
The Body Shop cuts prices, reaps dividends in India
Calcutta Tube
Last year, The Body Shop had cut down the price of its 200 top-selling products by 20-30 percent to tap the Indian cosmetics market. Buoyed by the good response, it has further slashed prices by almost 35 percent on more than 600 products across the country.
Benetton India revenue likely to touch $250 m in 4 yrs
Economic Times
Italian clothing major Benetton expects its business from India to contribute a significant chunk of its overall revenues in five years. The Benetton Group, with brands such as casual wear United Colors of Benetton, the glamour-oriented Sisley and the leisurewear brand Playlife, has a presence in 120 countries. Its network of around 6,000 stores around the world generates a total turnover of over euro 2 billion.
News: Food & Grocery, QSR ...
A sports bar for Mumbai
Times of India
India’s largest chain of sports bars made its presence in Fort with its 5000 square feet property. This is their eighth outlet after successfully launching Xtreme Sports Bars in cities like Hyderabad, Bangalore and Gurgaon.
Fingen Group mulls luxury hotel foray
Economic Times
The Fingen Group is evaluating the prospects of bringing in factory outlet mall format and building luxury hotels in India, said Fingen Group director Jacopo Fratini, who is on his first visit to India.
Retail Trends
Retailers plan greater presence in high streets
Economic Times
Shoppers Stop, Reliance Retail, Madura Garments, Arvind Brands, United Colors of Benetton and others plan greater presence in high streets and co-location with multiplexes to keep their expansion intact between October 2011 and March 2013 when real estate analysts foresee a void in mall expansions.
We will have 1,700 outlets by March ’11
mydigitalfc.com
Essar Oil on Wednesday reported a profit after tax of Rs 29 crore for 2009-10 against a loss of Rs 514 crore in 2008-09. Although there are no clear indications of implementation of Kirit Parikh committee proposals for a level playing field between private and state-run fuel retailers, it will continue selling fuel without making losses.
Cast your net wide
The Hindu
It won’t be easy dressing up for weddings this summer. We aren’t just lamenting over the pricking heat but the sheer variety available that will leave blushing brides and invitees confused. Retail stores have gone in for a quick transformation. The buzz isn’t so much about spring summer collections as it is about summer wedding collections.
Retail Insight
Shifting Responsibility to Vendors Through VMI
RIS
As retailers cut spending, a bloated supply chain is usually the top target. And that's where a Vendor Managed Inventory (VMI) approach helps. VMI and consignment inventory capabilities enable retailers to free up funds by deferring the cost of inventory ownership further back into the supply chain until replenishment at the store occurs
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