Category Archives: Modern Trade

Multi-brand FDI in Retail: It’s a Yes! for Tesco

Finally, as 2014 rings in, its a good news for multi-brand retail FDI. Foreign Investment Promotion Board (FIPB) approves Tesco’s proposal to invest $110 million in Indian retail market in JV with Tata’s Trent Hypermarkets.

The approval makes Tesco the official first in the Indian retail market to set shop in JV with an Indian brand.

Tesco will own 50 per cent stake in Trent Supermarkets that currently runs 16 Star Bazaar hypermarts across Maharashtra, Karnataka, Gujarat, and Tamil Nadu. But Gujarat and Tamil Nadu not yet up for FDI, the current JV will focus on the stores in Maharashtra and Karnataka.

 

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More Megastore expands portfolio; adds fashion apparel & footwear segment

So next time you walk in to the More Megastore, it will just not be your groceries but also your fashion needs that will be satiated as the modern retailer expands portfolio. From the house of Aditya Birla Group, More has added fashion apparel and footwear as a new segment to its product offerings.

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Though the retailer has been selling various other brands in that segment, it is now that they introduce nine in-house brands. Speaking on the launch of the brands, Russell Berman, CEO – Hypermarkets, Aditya Birla Retail Limited said, “We are excited to expand our footprint to apparel and footwear. The category is a fast growing segment and is a daily need for most consumers.”

He further adds, “We wanted More Megastore to evolve and make it lot more relevant to a larger spectrum of consumers not just across the bigger towns but also to smaller cities like Vadodara, Indore, Mysore and more. By paying special attention to the need of new age customers, we have enhanced our offerings immensely.”

Brands:

  • Menswear: BlueEarth, Be Casuals & Kruff
  • Womenswear: Karinee & Bjoyzz
  • Kidswear: Chatter Kids and Yo
  • Footwear: Berwins and Inchheels