| From the Editor's Desk |  | |
Guest Editor: Matthew Cushen, Global Retail Head, ?WhatIf! Innovation
Innovation
In the developed economies it is sometimes difficult to identify the defining characteristics of the most successful retailers - as in these mature markets many products, store environments and service propositions are very similar. Where new products or services can be mimicked at speed, it is constant innovation that drives success. As Steve Jobs of Apple says - "innovation distinguishes between a leader and a follower".
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| At a Glance | |  |
| News: Apparel, Specialty, CDIT ... | | |
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Debt-laden retailer Vishal Retail Ltd suffered another setback when a court ordered it to deposit nearly 40% of the about Rs.11 crore it owes to employees in provident fund payments. A company spokesperson declined to comment, saying by email: "The issue stated is highly confidential to (the) company's corporate affairs and in (the) absence of any written communication by hon'ble high court, we cannot disclose any details." |
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Kerala-based jewellery chain, Malabar Gold is planning to increase the number of its stores to 500 over the next five years, from the current 42 stores. The company has said foreign markets will also be a focus as part of its expansion plan, which involves an investment of nearly Rs 9,000 crore. "We are planning to use the franchise model for the proposed expansion, by which the company doesn't have to invest," said O Asher, Group Executive Director, Malabar group. |
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Luxury design house Christian Dior has finally opened its doors in Mumbai, at the Taj Mahal Palace Hotel. The store comprises selection of garments, bags, shoes, sunglasses and watches, along with a few pieces of jewellery from the current Autumn-Winter collection. Brand representative for India, Kalyani Chawla says, "Some of our best customers are from Mumbai. They had to travel to our stores in Delhi before to pick up stuff, and I know of people who fly in just to buy something and come back. We finally found a place that suited us." |
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Mumbai-based Sanguine Industries is planning to add 28 more stores under its moissanite jewellery brand, Fiona, by the end of the next financial year, according to its director Parag Agrawal. "Each of the proposed retail stores will entail an investment of Rs 50 lakh and will be located in high-street zones targeting the upper middle class and the cream class," he said. Sanguine currently operates 22 Fiona stores across the country. |
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Cotton King is planning to expand its operations in south India. Pradeep Marathe, Director, Cotton King, said that the chain was planning to open five stores in Hyderabad this fiscal. Cotton King has an established presence in Maharashtra with 36 stores in almost all the important cities, he said. "We have set the target to take the total number of Cotton King Stores to 50 by March 31, which will include five stores in Hyderabad while the rest would be in Maharashtra." |
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The Karnataka Silk Industries Corporation Ltd (KISC) has opened its exclusive retail outlet 'Mysore Silk', in Chennai's shopping hub T Nagar, relocating from Mount Road, where it was started 50 years back. A government of Karnataka undertaking, the outlet will have exquisitely woven pure Mysore silk sarees ranging between Rs 7, 000 and Rs 2.2 lakh. |
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| News: Food & Grocery, QSR ... | | |
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Little Italy, the restaurant chain that serves vegetarian Italian cuisine, is looking to expand its footprint across the country, besides venturing overseas. "In 2010-11, we will be investing close to Rs 50 crore. We will be diluting 20 per cent equity," Little Italy's Director Raj Mehta said. The restaurant will seek private participation to raise this capital, he said. By end 2011, Little Italy plans to set up 10 more India outlets, which will be a mix of franchise and ownership models. |
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Mumbai-based Aspri Spirits today said it is eyeing a market share of up to 10 per cent from the sale of two champagnes from France-based House of Lombard in the Indian market. Aspri Spirits has a marketing tie up with House of Lombard and sells its two premium champagnes--Champagne Lombard Brut and Champagne Lombrad Rose- in the Indian market after importing them from France. |
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| Retail Trends | | |
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 | The walk up to Atul Ruia's corporate office in Mahalaxmi, a central Mumbai suburb, is rather deceptive. You could easily miss the dimly lit entrance in an old two-storied building in central Mumbai. The location of Ruia's office is in stark contrast to his business. Ruia owns Phoenix Mills, the sprawling shopping destination in Lower Parel, Mumbai. ...Ruia's resurrection of the mill into a shopping destination has propelled him into the Forbes Billionaires List for the first time. |
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Netscribes (India) Pvt. Ltd., a knowledge consulting solutions company, announced the launch of its Book Retail Market in India 2010 report, covering an industry which is expected to witness strong growth. The growth in organized retail, coupled with new inventions in the technological world, is expected to increase the number of readers. The book retail sector in India is witnessing the entry of increasing number of players to capitalize on the rising growth opportunities in the market. |
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| Retail Insight | | |
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| Retail and Shopper Trends Asia Pacific 2010 |
| nielsen |
Throughout the Asia Pacific region, countries experienced a lower level of grocery sales growth in 2009 compared to the very strong performance in 2008. Discounting the effects of lower inflation on absolute sales dollars, volume growth was significantly lower in many markets. The strongest performing markets in 2009 were India and Vietnam, where sales values increased by nearly 15% compared to 2008. In China and Indonesia, markets that had consistently enjoyed double-digit growth over the last 5 years, the growth rate slowed down to +3% and +5% respectively. China has seen a strong recovery though since Q4 2009 and is now back to 11% growth in Q1 driven by a strong demand for food categories. |
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