Stylemydiamonds.com, the retail wing of Diamonds Factory-London, was launched in India early this year, making its way into the competitive online retail scenario in the country. With its strong focus on educating consumers along with retailing a wide range of jewellery, the online retailer, aims at reaching consumers through offline lounges as well.
Nitin Raj, Chief Marketing Officer, Stylemydiamonds.com shares what the brand brings on platter for the Indian consumers.
- iGrow: From Europe and the US, how did India emerge as the next best place to be? What kind of R&D was done before the entry and any special findings?
Nitin Raj (NR): India is a challenging market and we took two years before we officially launched as we wanted other players to test the waters before we enter into the market. We had been keeping a close watch on the players who were entering into the Indian market and all the tactics they were following to attract customers to buy online.
We have always believed that the product has to be so good, that it sells by itself and we do not have to go and sell it. Indian market is still not ready for making extremely large purchases online due to the fear factor, though transactions between Rs 8,000 – Rs 50,000 is fine, anything beyond that the customer wants to have the trust factor. This is the reason why we have opened our first lounge in Mumbai. So the trust can be established that we are here to stay. Continue reading Stylemydiamonds.com: Customise your jewellery online
One of India’s largest media conglomerate, Reliance Retail and the technology major, Samsung have together signed a pact to offer after sales services. With this partnership Reliance will manage Samsung’s after sales services.
Going further Reliance aims at signing similar pacts with nearly all top electronics and technology brands present in the country and becoming India’s leading one-stop consumer electronics installation, maintenance and service venture.
The deal which has been signed between Samsung and Reliance resQ has started with the launch of pilot services in Pune.
The global cash and carry major, Walmart, appoints Krish Iyer as the CEO of India operations. Iyer will take over Ramnik Narsey who moves to a global role of Senior Vice-President at Walmart International.
Iyer has been associated with Walmart from 2012 and has been a part of Southeast Asia and Europe on management roles for Hong-Kong based retailer, A.S. Watson. He has also served as the Managing Director of Ashok Piramal Group-owned Piramyd Retail.
It was only recently that Walmart broke its seven year old ties with Bharti Retail.
The technology brand, ASUS India, which has been aggressively expanding its retail presence, now opens its first exclusive store in Bhubaneswar, Odisha. The new outlet will feature the brand’s entire range of Ultrabooks, Notebooks, Netbooks, Tablets and Phablets that are available in India. The retail store Subham Infotech is located at Plot no-610, near UCO bank ATM, Saheed Nagar, Bhubaneswar – 751007.
Unaez Quraishi, Sales & Distribution Director – System Business Group – ASUS India said, “In view of our extensive retail expansion venture, we are extremely elated to be marking our presence in Odisha. Bhubaneswar is one of the country’s fastest developing cities and is emerging as an Information Technology (IT) and education hub in the state. We are affirmative about serving our existing and prospective customers in the region with utmost commitment from this city.”
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.
One of India’s renowned actress, Bipasha Basu, has launched her online selling portal. The portal, The Trunk Label, will be launching officially on 4th December under The Label Corp., the celebrity ecommerce company. But you can already visit the website and sign up for the future communications.
This is The Label Corp.’s third venture after they launches Sussane Roshan’s home decor portal and Malaika Arora Khan‘s fashion products portal. Bipasha’s ecommerce venture will be selling fashion accessories specially recommended and styled by the actress herself.
Bipasha will also be a stakeholder in the venture.
India has been across various reports, has emerged as a luring destination for investors in various sectors. Of these sectors, retail is seeing a splurge of investment, especially with FDI opening up in single brand and multi brand.
This time the high-end Italian brand, Stefano Ricci, plans to make an India entry as it awaits FIPB approval for 100 per cent single brand FDI. The brand retails luxury menswear with stores across Europe, US and Asia.
Reports suggest that the brand will open its first store either in Delhi or Mumbai.
Recently, even the crystal and gems brand Swarovski, has also filed proposal with FIPB for 100 per cent single brand FDI.
The fitness brand which recently made it’s North India entry with Gurgaon, now opens its first outlet in the capital. Located in Gujranwala Town, the centre is a no frill 24*7 space and ensures to offer international services at an affordable cost.
Along with opening the first centre in Delhi, the centre now plans to open 15 franchises more in Delhi & NCR by F’Y 2014. Dr. Vikram BM, Founder & CEO Snap Fitness India commented, “Our success in the southern part of the country inspired us to make this swift move to the north India. We plan to spread far and wide across the country and make fitness affordable and accessible to all. BE WELL is our motto”
The brand is already very popular down South and Mumbai.
The multi-channel retail company, HomeShop18 has raised $14 million in a follow-on funding round from G S Home Shopping, funds managed by OCP Asia and Network18.
Owned by Network 18, the company statement says, GS will invest $11 Million; OCP Asia
& Network18 will invest the remaining amount. The transaction values HomeShop18 at $360 Million.
Network18 will remain the majority shareholder (51 per cent) in HomeShop18. SAIF Partners, GS Home Shopping and OCP Asia are the other existing investors at Hom
eShop18. GS is the third largest Home Shopping company in the world and the market leader in Korea. Continue reading $14 million funding pours in for HomeShop18
One brand that stirred one of the crucial yet unorganised helmet and riding gear sector, is now aiming to reach new heights as it expands its retail presence, product offerings, licensing tie-ups and even creating awareness. Steelbird Hi-Tech India, has now started a new chapter of making this journey even better. In discussion with Rajeev Kapur, Managing Director, Steelbird Hi-Tech India Ltd, iGrow gets to know more about their plans and strategies.
Rajeev Kapur, Managing Director, Steelbird Hi-Tech India Ltd Continue reading iGrow Interviews: Steelbird aims to be Rs 500 crore company by 2015