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.
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.
From a $16.2 billion auto and aerospace group Mahindra & Mahindra is all set to taste new waters by retailing fruits and more precisely, branded fruits. Now that’s something interesting!
M&M will be launching a fruit brand Sabaro early November this year and will be retailing through chains including Godrej’s Nature Basket, Heritage Foods and Reliance Fresh (still in talks). The first product to enter this will be apples which will be sourced from Kinnaur in Himachal Pradesh, graded and sorted in 15 outlets in Hyderabad early next month. This will be followed by grapes, bananas and mangoes. Some of the products will also be imported.
For the new category, M&M is working with nearly 1,000 farmers in Sangli and Latur for grapes, 50 farmers in Kinnaur, Himachal for apples, 100 farmers in Gujarat, near Surat and Bahraich in Lucknow and Akluj in Maharashtra for bananas, reports Economic Times.
The products will be reaching out pan-India through major cities and mini metros in a span of one year. M&M will target nearly 200 organised retail stores and aim that turnover will increase from Rs 100 crore to Rs 300 crore in the next three years. What’s more, soon the products could be bought online through various retailers’ online stores.
Alongside, M&M will also set up sustainable business model that includes the entire agri value chain.
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.
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.”
- Menswear: BlueEarth, Be Casuals & Kruff
- Womenswear: Karinee & Bjoyzz
- Kidswear: Chatter Kids and Yo
- Footwear: Berwins and Inchheels
Sahara Q Shop expands network; launches 100 exclusive stores in Delhi and NCR
The FMCG & CPG retail arm of the Sahara India Pariwar, ‘Sahara Q Shop’, enters the capital of the country as it opens 100 exclusive Sahara Q Shop Neighbourhood Convenience Stores.
Furthermore, looking at the opportunity in Delhi and NCR region, Sahara Q Shop has plans to open 400 such stores by 31st March 2014 in the region. Currently, there are 901 Sahara Q Shop Stores operating in 12 States. By the end of the current financial year the company has plans to have 10,000 (ten thousand) such stores across India. Two thousand of these stores will be opened in Metro Cities.
Continue reading 100 Sahara Q Shops open in Delhi/NCR
Homeshop18, a one of its kinds retailer which operates in various formats of retail including TV and online, has now expanded its product offering to food and grocery. One of the leading names in ecommerce industry, Homeshop18 will become the first ever e-retailer to serve food and grocery products nationwide. Continue reading HomeShop18 enters F&G segment