| At a Glance |  |  |
| News: Apparel, Specialty, CDIT ... | | |
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| The world's largest corporation and US retailing giant, Wal-Mart will open "hundreds of news stores" if the government allows foreign companies to invest in the sector, Raj Jain, the company's head in India said. The firm, under its 50:50 joint venture with Bharti Enterprises, has just two stores currently and will expand very slowly if the government does not allow foreign companies to address the retail customer. |
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Marks and Spencer Reliance India, a joint venture between Mukesh Ambani-run Reliance and UK-retailer Marks and Spencer Plc, intends to open 15 stores in two-years, mainly in the metros, a top company official said. |
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In a bid to pre-empt a rival offer by Kishore Biyani's Future Group, US-based private equity firm TPG Capital Lp sought to rush through a deal to acquire the assets of beleaguered discount retailer Vishal Retail Ltd, but a formal agreement proved to be elusive. An agreement would not only give TPG control of the company, but also mark the exit of Vishal Retail's founder Ram Chandra Agarwal, who built one of India's largest discount chains before it fell prey to the economic slowdown of 2008-09. |
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Billionaire Chandru L. Raheja-promoted K Raheja Corp., a Mumbai-based real estate firm that runs retail chains and shopping centres such as Shoppers Stop Ltd, Inorbit and Mindspace, has signed a joint development deal to develop Modern Mill, a privately held defunct textile mill property in South Mumbai. |
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Mini Shibu, a post graduate in apparel design from NID, and her husband Cdr (Rtd) Kochery C Shibu launched MINC, an eco-friendly fashion store for women in 2007. The concept "was to promote eco-friendly fashion, working with khadi fabrics, organic cotton and vegetable-dyed fabrics, while supporting a social chain of tribal cotton farmers, weavers and dyers community, therefore, trying to facilitate a healthier environment." |
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Damas, the region's largest gold and jewellery retailer, has extended its standstill with its creditors on as much as Dh3 billion (US$816.7 million) of debt until the end of September. The extra time on the agreement, which was first signed with the majority of its lenders in March, will give the retailer time to finalise its debt restructuring plan, the company said. |
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Levi Strauss India, has recently appointed Sanjay Purohit as its new Managing Director (MD). Purohit succeeds Shumone Chatterjee who has moved to the regional office, Singapore to become the Vice President of Marketing, Levi's Brand for Levi Strauss & Co. (LS&Co.), Asia Pacific Division. |
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| News: Food & Grocery, QSR ... | | |
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Wadhawan Retail has decided to shut its Spinach food and grocery stores, multiple people familiar with the development, including one senior executive of the group, said. Most of the 45 Spinach outlets will down shutters by the end of this month and many suppliers have snapped their relationship with the company because of huge outstanding bills, several current and former company executives said. |
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One of northern India's oldest eateries Moti Mahal, credited with creating the present-day version of tandoori chicken, dal makhani and butter chicken in 1920, has entered the Indian kitchen with a range of ready-to-eat processed food. Moti Mahal's instant food added to the burgeoning ready-to-eat market in India, estimated at Rs.800 million annually and shows potential for growth, given the large consumer base. Reports cite that the ready-to-eat food market in India was growing at a compound annual growth rate of 15 percent for the last five years. |
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Fast-food chain Burger King misled viewers over the size and composition of its Tendercrisp chicken burger, Britain's advertising standards watchdog. Complaints were filed with the Advertising Standards Authority (ASA) on the grounds that the burger sold in Burger King outlets was much smaller than the one advertised. |
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| Retail Trends | | |
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| "From WalMart's perspective it is essential (opening of FDI in multibrand retail). While we are happy to set up out back-end chain infrastructure for our cash-and-carry, in order to be able to monitise and see the final benefits of the supply we need to be able to serve our customers," says WalMart India Managing Director Raj Jain. "It is essential that FDI is open, so that we can open our own stores and carry the product in its hygienic and safe condition, not only at the farm gate but right up to where the customer buys," he added. |
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Now, getting hold of those chemical-free eatables is going to be more easy. The Kerala Gandhi Smaraka Nidhi (KGSN) is all set to open a sales counter for organic produce at its centre at Thycaud, in true Gandhian style, to promote organic agriculture. It's as part of the Farm Innovation Project initiated by the KGSN with the financial assistance of NABARD that the sales counter is to be opened. |
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It's a nagging, almost decade-old doubt that has kept foreign direct investment (FDI) in retail at bay: will the entry of Big Retail hurt the six million kirana stores? As the nation grapples with the question, a series of interesting pilot projects are demonstrating how the giants and the dwarfs can co-exist, and even fuel each other's growth. |
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| Retail Insight | | |
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| Emerging Opportunities in Travel Retail |
| Technopak |
When we travel, we often wonder why we cannot have a good quality food outlet or gift shop where we can spend some time. How many times, while travelling on India's emerging new jet-black highways, have we wondered why we cannot have a nice wayside leisure and entertainment area where we can take a quick nap and rejuvenate or allow our children to play! All this is going to change soon as we see the emergence of a new opportunity for retailers and developers. This is what we call travel retail. |
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