Bangalore-based Rajesh Exports, one of the world's largest gold and diamond jewellery makers, will raise around $1 billion from the Australian government-owned gold refinery major Perthmint and another undisclosed gold supplier in South Africa. "The fund would be raised as supplier credit to promote our retail expansion programme in India," Rajesh Mehta, chairman of Rajesh Exports said.
Vishal Retail may close a deal with Texas Pacific Group, a private equity fund, or other Indian investors in 2-3 months to raise funds and cut debt at the troubled discount retailer, a top official said. Ram Chandra Agarwal, Founder and Chairman of the firm said, "Till now nothing is clear. Anything can happen," he said, adding things will be clear in 2-3 months.
Shoppers Stop, one of India's biggest fashion and lifestyle store, is bullish on its food and grocery retail chain Hypercity, in which it owns nearly 20 per cent stake. The retailer believes that Hypercity could grow even bigger than Shoppers Stop itself both in terms of size as well as revenues.
Samsung Electronics Co. Ltd. has opened its first dedicated IT Brand Shop in Delhi. The shop will display and retail a whole range of Samsung IT products... The Samsung IT Brand Shop has an "Experience Zone" where consumers can experience digital convergence with Samsung IT products.
Danish apparel chain, Bestseller is planning to launch kidswear brand Name It and casual wear brands Selected and Vila in India next year, amplifying its collection of labels in a fast-growing segment. "The Indian retail market for kids clothing is still unorganised and has few international players in the organised space. There is a huge untapped market," Bestseller Retail India Country Head Vineet Gautam said.
Relaxo Retail, a division of Relaxo Footwears Limited, one of the largest footwear companies in India, has opened its exclusive family footwear stores in Bareilly (Uttar Pradesh) and Rudrapur (Uttarakhand). The store at Rudrapur is the company's sixth in Uttarakhand and 102nd in the country.
In a bid to increase its presence in the fresh fruit and vegetables segment in the country, Godrej group venture, Nature's Basket is planning to double its store count in the country over the next two years, and is looking at expansions specifically in Delhi and south India.
JS Hospitality to open 7 new Pind Balluchi outlets
Press Trust of India
Delhi-based J S Hospitality said that it will expand its restaurant chain 'Pind Balluchi' by opening up to seven new outlets this fiscal, as it looks at making its presence felt beyond its traditional North Indian market. J S Hospitality Chief Executive Officer, Shashi Khanna said that most of the new outlets will be opened under franchise or management contract models.
Italian coffee giant Lavazza has announced a change in leadership for its South Asia unit as well as at coffee chain Barista. The company named R Shivashankar as Director, South Asia, while appointing Sanjay Coutinho as CEO of the Barista Coffee Company, both effective immediately.
Entrepreuner Jay Gupta talks about the days when in his early 20s, he used to sleep in his own warehouse - a three-bedroom flat in the suburbs. "One room was my office, another was my showroom and the third one used to be my warehouse. I used to sleep in my warehouse." Jay, a first generation entrepreneur, started The Loot chain of stores and has recently opened his 150th outlet.
Kirana stores and local retailers remain the most preferred destinations for a majority of shoppers across the country as compared to the sprawling shopping malls, as they provide for cheaper purchases to the extent of 25% and also offer options for avoidance of payment of duties such as VAT and other local levies on the articles sold by them, according to a country-wide survey conducted under the aegis of the Assocham Social Development Foundation.
Fashion designer Sanjana Jon opened her first ever store in Aamouage in New Delhi, under the label of Sanjana Jon. The collection that essentially offers bridal and evening wear supports the cause of the girl child and is meant to spread awareness about it. "I believe in fashion with heart. And everything I have ever done has been for a cause," said the designer.
Retail Insight
Pursuing Private Label Strategies in Retail
PRTM
In these tough times; consumers are demanding greater value which often translates into lower retail margins. Retailers are taking matters into their own hands; building private labels that compete with well-known brands.
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