Retail insight as on 30th April 2010

April 30, 2010News for the Retail industry










Previous Issues



News: Apparel, Specialty, CDIT ...



Pantaloon, arm plan Rs 750-crore NCD

Business Standard

Pantaloon Retail (India) Ltd, the country’s largest retail company, and Future Value Retail Ltd (FVRL), recently carved out from Pantaloon as a 100 per cent subsidiary, plan to issue non-convertible debentures (NCD) worth Rs 750 crore in the next three-four months, according to sources. The funds would be utilised to repay debt and convert some of the short-term loans into longer duration debt.





Second high-profile exit in one week: Sanjeev Asthana to quit Reliance Retail

Economic Times

Sanjeev Asthana, President and Chief Executive of the agri business and food supply chain at Mukesh Ambani’s Reliance Retail, will leave the company in May, a person familiar with the development said. Mr Asthana has been in discussions with the top management about moving out to do something on his own for a few months now and a decision was taken recently, the person, requesting anonymity, said.





Shoppers Stop set to up stake in HyperCity

Moneycontrol

The board of retailer Shopper’s Stop has given its approval to up its stake in unlisted Hypercity Retail (India) Ltd to 51% by acquiring an additional 32% stake from promoters, it said. The retailer needs to complete the stake purchase by June 30, it said in a statement on Wednesday.





DBS Bank files winding-up petition against Vishal Retail

Livemint

DBS Bank Ltd has filed a winding-up petition against Vishal Retail Ltd in the Delhi High Court in a bid to recover money it loaned to the troubled retailer, a person close to the development said. The petition, filed earlier this week, is the latest in a string of cases DBS has brought in various courts to recover dues of around Rs 40 crore from Vishal Retail. DBS Bank has also approached the debt recovery tribunal in New Delhi.





Spencer’s Retail likely to break even by this fiscal-end

Economic Times

Loss-making Spencer’s Retail is likely to break even towards the end of the 2010-11 fiscal, a company official said. "We are looking at Rs.1,150 crore revenue in 2010-11, up from Rs.900 crore last year. We expect to start breaking even by the end of 2010-11," Sanjeev Goenka, Vice-Chairman of CESC Ltd, said. Spencer’s is the retail arm of power utility CESC.





Bata India Q1 net profit up 39% yoy

India Infoline.com

Bata India Limited, the largest footwear retailer and the leader in the footwear industry in India, announced its financial results for the first quarter of the year 2010. The company continued with its strong growth momentum by posting an impressive 11.2 % growth in net profit at Rs 143.3 mn as against net profit of Rs 103.3 mn in the same period last year. The net sales of the company grew 11.2% at Rs 2.59 bn





Ethos opens luxury watch outlet at Mumbai domestic airport

NetIndian

Ethos Swiss Watch Studios, a pioneer in luxury watch retail in India, has opened its latest store at the Mumbai Domestic Airport’s recently-inaugurated Terminal 1-C. The store offers travellers the chance to browse through more than 15 Swiss watch brands such as Claud Bernard, Seiko, Tissot, Edox, Morellato, Timex, Guess and so on while waiting for their flights.





News: Food & Grocery, QSR ...



Old wine in a new store

Livemint

The Wine Society of India is launching Wine Warehouse, a wine store that will stock a rare hand-picked collection of the world’s finest wines. The Wine Society’s director David Banfordtalks about the store and why you need a wine chiller even if you’re Shah Rukh Khan. Edited excerpts:





Chef Sanjeev Kapoor to launch cookery channel soon

NetIndian

Celebrated Indian chef Sanjeev Kapoor today said he would soon launch a cookery channel on television soon as part of his efforts to expand the horizons of Indian food and recipes. Kapoor launched the 12th outlet of his Yellow Chilli chain of restaurants in Ahmedabad. The Ahmedabad restaurant is unique in the sense that it is the only one in the chain that is completely vegetarian.





Retail Trends



Marks & Spencer appoints Martin Jones as CEO

Livemint

Retail player Marks & Spencer Reliance India said it has appointed Martin Jones as its new chief executive officer. Jones has taken over from Mark Ashman as head of the joint venture company. A veteran in the retail industry, Jones has been associated with Marks & Spencer since 1997. Marks & Spencer Reliance India currently has 17 stores across the country selling womenswear, menswear, kidswear, homeware and beauty products.





PVR earmarks Rs 500 cr for 500 screens in 3 yrs

Business Standard

PVR Ltd., the retail entertainment company, is planning to open 500 screens across the country in three years. For this financial year, the company plans to open 60 screens in cities including Surat, Kochi, Pune, Bhopal, Vijaywada, Mysore, New Delhi and Jalandhar.







Adding Fizz

Forbes

The Bhanu General Store on the busy Faizabad highway outside Lucknow city in North India is a minimarket crammed into 1,700 square feet of space and open from 8 a.m. to 10 p.m, seven days a week. Owned and run by 40-year-old Sanjay Singh, Bhanu is one of 7.7 million kirana (grocery) stores that form the backbone of India’s retail distribution network...Collectively they form a powerful lobby that has so far successfully stalled the entry of big, foreign retail chains into the country





Retail Insight



Career with Shopping Malls



Overwhelming? Perhaps. Pressure? Definitely. But, ask the diehard Shoppers - and Retailers - it's the thrill of the hunt and the pleasure of the fantastic find that elevates shopping beyond merely getting what you need. Shopping Malls embody that luxurious fantasy that tells us we can have what we want. And behind the scenes of this never-ending retail drama is an entire profession most people don't even know about called Shopping Mall Management