May 10, 2010News for the Retail industry
Previous Issues
News: Apparel, Specialty, CDIT ...
Retail FDI may come with stiff conditions
Press Trust of India
Foreign direct investment (FDI) in the multi-brand retail may be allowed, subject to a stiff condition that global retailers will have to invest heavily in the back-end infrastructure like warehousing and cold storage. The Department of Industrial Policy and Promotion (DIPP) will soon come up with concept papers on relaxing norms for FDI in different sectors, including multi-brand retail.
Spencer’s goes Hyper with 10 stores
Daily News & Analysis
Spencer’s Retail, the RPG Group’s arm that had shut down over 100 supermarket stores last year in order to consolidate the retail business, is focusing on growing its hypermarket format Spencer’s Hyper, a senior company official said. "Hypermarkets is the focus area for us this fiscal," Anurag Rajpal, Vice President - Apparel,Spencer’s Retail, said. The company will open 10 hypermarket stores in FY11, while not opening many supermarket outlets.
Tesco, GAP supplier to enter fashion retail
Economic Times
Crew B.O.S Products, a leading supplier of leather and fashion accessories to global brands such as Esprit, Armani, Tesco, GAP and Chico’s, has decided to enter theIndian retail market. The Rs 350-crore exporter will float a wholly-owned subsidiary, Crew Republica Retail, for its retail foray, said Tarun Joshi, director of the Delhi-based firm. To start with, it will open stores selling branded bags, leather shoes, belts and some other fashion accessories in metros.
Titan to spend Rs 1000 cr in 5 years
Economic Times
Titan, India’s largest watchmaker and retailer, plans to spend Rs 1,000 crore in five years with increased focus on international markets, as it pushes to become the world’s third largest watch company. "We intend to become the number one watch brand in the mid-market segment in eight out of the 26 countries in which we operate outside India, by 2015," Harish Bhat, COO, Watches, Titan Industries said.
Pavers England to open 19 exclusive franchisee stores by FY 11
Economic Times
With an aim to expand its footprint further in India, British footwear brand, Pavers England, plans to open 19 exclusive franchisee stores by the end of this fiscal, a top company official said. The company presently has six exclusive franchisee stores in Mumbai, Delhi, Hyderabad and Chennai.
Ethos Swiss Watch Studios eyes 50 pc revenue growth in FY’11
Economic Times
Ethos Swiss Watch Studios, India’s largest multi-brand retail chain for premium and luxury watches, on Sunday said it is eyeing close to 50 per cent growth in its revenue to Rs 110 crore in the 2010-11 fiscal. The company also plans to expand its pan-India footprint this fiscal. The firm’s revenue during FY’10 fiscal stood at Rs 74 crore.
News: Food & Grocery, QSR ...
Organised restaurant market to touch Rs 28,000 cr by 2015
Economic Times
The organised restaurant market in India may grow nearly four-fold to around Rs 28,000 crore by 2015, as several foreign players like Starbucks and Burger King are looking to enter India, an industry body said
Kapoor in deal to open restaurants in Kingdom
Arab News
Sanjeev Kapoor, the celebrated TV host of India’s best cookery show, has entered into a business agreement with the Riyadh-based Catering Services Corporation (CSC) to open 11 top-class restaurants in the Kingdom. The restaurants include Khana Khazana Restaurants for up market customers in Riyadh, Jeddah and Dammam.
New desi Kafe makes Bindass entry in Kolkata
indiaretailing.com
After Cafe Coffee Day, Barista, Aqua Java and Coffee Pai, the city has added another name -Kafe Bindass - to its list of happening coffee shops. Designed to become a popular, cool and urban caf in Kolkata, Kafe Bindass has launched two outlets at two prime locations in Kolkata - Hungerford Street (Picasso Bithi) and Loudon Street (UN Brahmachari Road).
Retail Trends
Prestige Group to infuse Rs 1.8 k cr to develop 6 malls
Financial Express
Bangalore-based real estate firm, the Prestige Group, plans to invest between Rs 1,500 crore and 1,800 crore to develop six malls, scheduled to be operational by 2013. The company will construct four of these six malls in a joint venture with Singapore-based CapitaMalls Asia
Delhi airport to outsource work
Economic Times
The GMR group-led Delhi airport plans to outsource its non-aeronautical activities...to a third party, as the firm concentrates on the physical development of the airport. In possibly the first such instance of outsourcing by an Indian airport, the Delhi airport developer is working on the idea of bundling several services including management of retail shops and giving them to specialised agencies.
Delhi’s ban on plastic bags gets a quiet burial
Hindustan Times
Plastic bags are back with a vengeance. Shoppers across Delhi are once again going home with colourful plastic bags full of goodies that they’ve bought. The shopkeepers have also started stocking them again in blatant violation of the plastic bag ban in place since January 2009. Apart from grocery stores and sweet shops, meat shops and fruit vendors mushrooming across localities are bringing the bag back in circulation.
Retail Insight
Getting Back to Good: Retail Pricing 2010
SAS
While price helped retailers maintain margins while moving excess inventory during the worst of the "Great Recession," survey respondents report that they are now turning to price to drive sales much more so than in the past, not out of a competitive response necessarily, but simply to entice consumers to buy. That doesn't mean that competitive pricing is not an issue, only that it has moved from a strategic one to more of an operational concern. In a more complex, multi-channel world, retailers are also focusing on how to measure the impact of their pricing decisions.
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