“The investment includes a primary fund raise and provides an exit to the existing investor, Future Lifestyle Fashions Ltd. The transaction is the largest private equity investment in the Indian ethnic wear market,” Biba said in a statement.
The Swedish retail brand, Hennes & Mauritz (H&M), has been given a nod of investing $115 billion (Rs 720 crore) in Indian retail market by the Foreign Investment Promotion Board (FIPB). With this approval, the retailer will set up fully owned subsidy in India.
It was earlier this year that world’s second largest fashion retailer had announced its plans to open 50 stores in India.
- Stefano Ricci plans India entry; awaits FIPB approval for 100% FDI in retail (igrowcommunity.wordpress.com)
- FIPB Asks My Mobile Payments To Raise $9.5M Via Automatic Route; Financials (medianama.com)
- FIPB to take up Vodafone’s India investment proposal on Dec 6 (rediff.com)
We all have become crazy about our smartphones and want everything right on our palms. Interestingly, we also keep on looking for apps that would make our life simpler or organised. This time iGrow looked in for some apps that will make your shopping experience rich and easy.
Here’s the CheckList: Continue reading ’10 Must Haves’ shopping apps this weekend (week 5)
Known for its interesting design and a blast of colours, the Belgian watch brand Ice-Watch, makes its India retail entry. The brand which is distributed by Ganga Watches Pvt Ltd in India, will now be available off the shelf in cities including Mumbai, New Delhi, Bangalore, Hyderabad, Pune and Kochi.
Available in all leading pop-colours, these watches are a must have in every wardrobe. With a price range of Rs 5,500 and above, the brand’s latest collection to India will include Ice-Forever, Ice-Love, Ice-Chocolate, Ice-Chrono Party, Ice-Glow and Ice-Chrono Electrik.
So you are feeling lazy this weekend with the sun shining high on your head? We give you options to buy within the comforts of your home. Yes, shopping just a click away. This weekend at 10 Must Haves we bring to you the best of online deals and products which will add a dash of newness to your lifestyle.
Here’s the checklist:
When best of retail ingredients are put together, what emerges is as strong as Edabba. Founded in April 2011, the omni-retailer, has raised a funding of Rs 4.5 crore ($ 1 Million) from CCube Angles, a Singapore-based investor. The company will use the latest round of funding to expand its edabba trust points to over 1,000 in the next six months.
With this investment, CCube Angles will buy a majority stake in Edabba, a name which dimnishes the lines between brick n mortar retail and e-retail.
Founded by the veterans from retail industry, Manoj Kumar, Saurabh B Chadha and Dinesh Paul, the model serves to uplift the neighbourhood retailers, who have been said to have a tough times with organised retail and e-retail capturing the Indian diaspora. With Edabba, nearly 400 brands have been taken to consumers by engaging their trusted neighbourhood retailer, Edabba appropriately calls them ‘Trust Points’. “Neither brick nor click alone can service the aspiring customers of Bharat satisfactorily’, said Manoj Kumar, Co-Founder and CEO of Omnipresent Retail India Pvt Ltd.
Currently, Edabba has nearly 400 Trust Points across various cities beyond metros including Dehradun, Patna, Vizag, Jaipur, Goa, Ranchi, Ludhiana and Bikaner. To its accolade, within 22 months of operation, Edabba has already touched approx 5 million potential customers in smaller towns who can ‘shop online’ with ‘complete trust’ through human interface without use of credit card and technology knowledge.
- “Brick & Click” retailer edabba raises $1 mn From C Cube Angels (nextbigwhat.com)
- Home Retail Group boss to step down (bbc.co.uk)
- Sahara Q Shop revisits business model, stores and distribution (sunandchronicle.wordpress.com)
A position which was being well-led by Kishore Biyani’s Future Retail has now been taken over by Mukesh Ambani‘s Reliance Retail. The retail arm of Reliance Industries Limited (RIL), Reliance Retail has become the country’s topmost retail chain.
Reliance Retail which recently announced revenue of Rs 3,474 crore for the quarter which is a 53 percent jump from Q3’12, has been able to achieve the numbers contributing to the various retail format it operates. It has reported an operating profit of Rs 70 crore and the variation in formats has helped the company achieve scalability. Continue reading Reliance Retail: The new numero uno in Indian retail industry
The maternity apparel brand from the house of Yashram Lifestyle, Morph Maternity, announces its plans to expand retail presence through franchised stores.
Currently operating through two stores in Bangalore and online through it own store and other kids and mother online stores, now with the plan in hand will tap the Rs 1,000 crore market for maternity wear.
The franchisee according to Deepa A Kumar, Founder and Director, Morph Maternity, will have to make an investment of Rs 15-20 lakh and an area of 500 sq ft.
- Furla to invest Rs 6.6 crore in India; awaits FIPB approval (igrowcommunity.wordpress.com)
- Preloved Maternity Set: Red Office Shirt and Black Slacks (Stretch) (prelovedmaternity.wordpress.com)
- Elegant Maternity Wedding Dresses at Sweet Lilly Maternity (sweetlillymaternity.wordpress.com)
- Thanks to Mommy! (harperwishnevski.wordpress.com)
Kids retail market has been soaring in India as parents are spending more and more on their kids wardrobes which for sure are getting ‘fashionable’. Why not, if Suri Cruise or Aaradhya Bachchan or even Harper Beckham can do it then surely your kids can.
So we bring to you products that will only add the brand glamour to your kid’s wardrobe and even their toy range: Continue reading The new fashionable generation…No kidding!
Tata Trent, the retail arm of Tata Group, has ended its six year old agreement with Xander Group, which funded its stores opening across malls. The arm now plans to open standalone Star Bazaar stores and not restrict itself to malls.
Unfortunately, Tata Trent which has a franchise and a wholesale supply arrangement with Tesco Plc, could not open any Star Bazaar in 2012-13 as they all were located in malls. These stores could not operational as the overall package din’t come across as attractive. Continue reading Tata Trent says no to malls for Star Bazaar; breaks ties with Xander Group