April 21, 2010News for the Retail industry
Previous Issues
News: Apparel, Specialty, CDIT ...
Max retail eyes Rs 400 cr turnover
Economic Times
Middle East retail chain Max, part of $ 3.8 Billion Landmark group, is expanding its footprints across the country, especially in the south, which accounts for the maximum revenue. Max, the group’s fashion brand, expects revenue from Indian operations to double to breach the Rs 400 crore mark by March 2011.
UK’s Tesco expects to open first store in India by year-end
Economic Times
British retail giant Tesco, which today posted a robust annual profit of 3.18 billion pounds, expects to open its first cash-and-carry store in India by the end of this year. In India, Tata Group firm Trent is the joint venture partner of Tesco for the cash-and-carry business.
Furniture line retailing: Future Group in deal with Bean Coffee Trading Co
Economic Times
Cafe Coffee Day may develop a private label coffee brand for the Future Group as part of a multiple partnership between the two groups. Kishore Biyani, CEO of Future Group, and V G Siddhartha, Chairman of Amalgamated Bean Coffee Trading Co that owns the country’s largest coffee caf chain, said they are also developing a furniture line to be sold through the retailer’s Home Town chain.
Nuance to exit duty-free shop JV at Hyderabad airport
Livemint
The world’s leading airport retail firm,Nuance Group AG, is exiting its duty-free shop at the Hyderabad international airport due to sluggish sales, said a senior executive of the group’s local arm and a top airport official. The group is considering exiting its duty-free store at the Bangalore international airport as well.This will effectively put an end to Nuance Group (India) Pvt. Ltd, a joint venture (JV) with Shopper’s Stop Ltd, which runs both the duty-free outlets.
Hide & seek: Kapur’s spiritual journey to Hidesign
Economic Times
It was his spiritual quest that brought a young Dilip Kapur to Auroville in Puducherry (then Pondicherry) more than three decades ago. He kept away his US doctorate in international affairs and shunned capitalism to pursue his hobby in the global township based on Sri Aurobindo’s vision. Today, his hobby of making designer leather bags has transformed into a Rs 100-crore enterprise--Hidesign--in which Louis Vuitton has 20% stake.
’We try to make fashion more accessible’
Economic Times
Atul Chand, chief executive of ITC Lifestyle retail business, anchored the creation of lifestyle brands such as Wills Lifestyle and John Players. He established a nationwide retail footprint focusing on excellence in retail operations and consumer shopping experience. In an interview with ET, Atul Chand outlines the strategy to take the business to the next level.
News: Food & Grocery, QSR ...
Singapore’s Kinara Group of Restaurants opens first outlet in India, more on ...
fnbnews.com
Singapore’s Kinara Group of Restaurants has now forayed into India beginning its first outlet in Bangalore. Plans are underway to set up 6 more outlets in the next 24 months. The Group has invested around Rs 3 crore for this maiden initiative in the country. "As India is a huge market we need to expand in a big way, so we need numbers," Raj Patro, Founder and Head, Kinara Group of Restaurants, said.
CBTL opens ’The Bean’ at Greater Kailash, Delhi and at Atrium, Mumbai
HospitalityBizIndia
The Coffee Bean & Tea Leaf (CBTL), the privately-held chain of speciality coffee and tea stores in the US, has opened its second outlet ’The Bean’ at Greater Kailash-1, M Block Market, Delhi. Besides, CBTL has opened ’The Bean’ at Atrium, One Indiabulls Centre in Elphinstone, Mumbai.The CBTL franchise is brought to India by Blue Foods, a front-runner in the F&B industry in India.
Retail Trends
Ex-PepsiCo India boss Rajeev Bakshi to head Metro India ops
Economic Times
Retail giant Metro Cash & Carry on Tuesday said it has appointed former PepsiCo India head, Rajeev Bakshi, as the Vice President and Managing Director of its subsidiary in the country. Bakshi will assume his new positions from June 1 and will be replacing Sylweriusz Faruga, who is taking up some other senior position in the company, Metro Cash & Carry India said.
EMI bandwagon gaining currency among retailers
Economic Times
Zero-rate EMI, perhaps the most popular financial innovation, is gaining currency among premium garment retailers.Marks & Spencer and Spykar Lifestyles may join the EMI rush soon, while lifestyle retail chain Shoppers Stop plans to relaunch a similar offer for its loyalty cardholders.
Big brands seek ’cool’ staff for sales connect
Economic Times
Brands are tapping social networking sites, informal gatherings like parties, discotheques, salons and even employee referrals. The aim is to get youngsters, who are interested in rock music, fashion and adventure sports, and are part of their target group, to promote and sell their products. "These people can easily understand the needs and aspirations of young consumers, being of the same age group and share the same tastes," says Darshan Mehta, CEO, Reliance Brands, which brought Diesel and Timberland Stores to India.
Foreign retailers increase India focus
franchise-net.com
The positive sentiment in the domestic retail market is driving foreign retailers to increase their focus on the Indian shores. After lying low for nearly two years, retailers are firming up plans to increase their presence in the sub-continent not just through retail expansion but also price cuts to find a foot here. Major retailers Walmart, The Body Shop and Artsana Inc. are putting expansions back on their strategies.
Retail Insight
Reducing Out-of-Stocks with More Effective Planograms
Retail Solutions
J.M. Smucker realized that they were experiencing wide-spread out-of-stock situations across many retail chains on Dunkin' Donuts coffee. "This did not come as a major surprise for us," commented Amy Derrenberger, a category development analyst at J.M. Smucker. "When the issue surfaced, we were already deeply engaged in an analysis to understand out-of-stock levels and try to find solutions."
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