Having a hard time competing with local kirana stores, Reliance Retail, aims to transform few of its giant sized hypermarkets in to wholesale cash & carry stores.
The first under the conversion plan is 44,000 sq ft Reliance Mart in Bhopal’s Aashima Mall which is under renovation currently and is expected to open in a new avtar in February 2014. The other two to be apparently converted are in Ludhiana and Aurangabad, each.
With the cash and carry model, the organised retailers will be able to supply bulk order to the kirana stores, which otherwise were their competition.
Modern retail has always been a step behind when it comes to consumers’ preference to shop for food and grocery, though modern retail stores offer a wide variety what they are unable to offer is good price. While modern retail sells at MRP until a scheme run by brand, neighbourhood stores sells at wholesale price 365 days of the and if you are lucky you can also avail ongoing schemes.
Walmart, after turmoil in its retail venture this year, now plans to lay off 100-150 employess from the mid-senior level. Walmart, post snapping ties with Bharti Retail, has delayed its expansion plan until 2015.
According to sources the process of handing over pink slips have begun and will be done over in next couple of days.
Walmart currently employees 1,100 people.
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.
India’s niche ecommerce player, Zivame, raises $6 million funding from Unilazer Ventures.
A Ronnie Screwvala‘s funding firm, Unilazer is investing most of the money along with other participating investors. The funds will be utilised to up the marketing and also upgrade the platform to make it more personalised for consumers.
Zivame is India’s leading name in online retail of lingerie and sleepwear for women. The e-retailer also recently ventured in fast fashion products.
Arvind Lifestyle Brands has entered a partnership with India’s leading retail chain, Shoppers Stop to setup and launch shop-in-shop of Next. The SIS of the British brand will be opened at Shoppers Stop’s Juhu store and will be spread across 600 sq ft.
The shop-in-shop will retail apparels for kids from the age of 2 to 12 years. The range will also have hosiery, socks, shoes and accessories.
The brand will be an addition to Shoppers Stop portfolio and will bring in the value of being aspirational brand.
J Suresh, MD & CEO, Arvind Lifestyle Brands said, “For the first time in India we are bringing speciality retail inside a department store. Next provides Shoppers Stop consumers best of British kids fashion wear offering. On the other hand, Next can take advantage of the ready consumer base of Shoppers Stop. We expect this to be a win-win collaboration between speciality retailers and department stores.”
One of India’s leading marketplace for home and furniture segment, expands it services as it launches auctions. With this service, the consumers will be able to win items at the price they wish to pay. Pepperfry Auctions is an exciting and engaging format for enthusiastic and evolved Indian shoppers who’d definitely enjoy the thrill of purchasing unique home merchandise by competing with fellow shoppers.
Pepperfry Auctions allow customers to bid for products that are perceived expensive and hence the customers can bid the price they wish to pay. Customers new to the auctions format can opt for Auto-bid which will act as their bidding manager and keep bidding on their behalf until the maximum amount set the by the customer is reached.
Kashyap Vadapalli, CMO-Pepperfry.com said “Pepperfry Auctions add excitement and provide a bit of an adrenaline rush for customers. This is a test pilot to help customers engage with the Pepperfry brand. Other categories such as Electronics and Apparel have bargain sales and there are ready price-references available that indicate the amount of savings. In Furniture and Home items the value is not only in the material and quality but also in the design and the concept, so auctions provide a fantastic opportunity for our customer to discover a price and also pay only what they wish as per the value they perceive. Our Auctions concept is simple, easy to use and coupled with a chance to take away a beautiful product for your home.”
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 ethnic women’s wear brand, Biba Apparels, raises Rs 300 crore funds. The investment has been made by private equity firms Warburg Pincus and Faering Capital .
“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.
As reported earlier, the auto major, Mahindra & Mahindra, had planned to enter the fresh fruit segment, has now announced the launch of its fruit brand Saboro.
Aimed at the health conscious consumers, the will offer a wide variety of fresh fruits including apples, bananas, grapes and some imported variety.
The brand has been launched in Hyderabad, keeping in mind the cities growing consumption of fresh vegetables and fruits and also the growing modern retail culture.
With this step, the brand, seeking to become a premium label, will be driving an organised market into the India’s strong agriculture segment, thus empowering the farmers and benefiting them.
NASSCOM, the organisation aimed at promoting Indian software industry, invites applications for the second batch of 10,000 startups initiative. Under this initiative, the technology startups achieve Funding, Acceleration, Mentoring and Enterprise connects (F.A.M.E).
Designed to promote and support technology startups, the initiative gives a 360 degree growth of the entrepreneurial ideas including market research, product development, talent acquisition, marketing strategies and others.
Som Mittal, President, NASSCOM said “The way India’s economy has grown in recent times is phenomenal. And to sustain this growth it is imperative to have more entrepreneurs in the country that will transform the landscape and propagate development. We are very pleased with the response that the 10,000 Startup program has received so far and are significantly enhancing the scope of the program in its second league. Adding value at various stages for technology startups in addition to the erstwhile proposition of funding and acceleration would be the primary focus of the program going forward. We are positive that this initiative will enable thousands of entrepreneur’s setup and grow their businesses and in the process further propel India’s economy.”
Under the ambit of 10,000 Start-ups, the program is additionally launching a one of a kind Startup-in-residence mentoring program where NASSCOM is collaborating with successful and entrepreneurial Tech companies in Consumer Internet and Software product space. This collaboration will enable incubation of early stage startups in their premises and support them through vertical experts specifically in the areas of Product Management, Technology, Marketing, Business Development and Human Resource. These renewed focus areas have immense potential and will continue to empower young entrepreneurs to create ventures of global scale from India.
The whole initiative aims at creating 10,000 startups in next 10 years.