iPhone fever seems to have captured the Indian consumers as iPhone 5s, the costlier version of iPhone 5, has gone ‘sold out’. It was only on 1st November that the product started selling off the shelf and in five days along with the latest iPhone 5c. Currently, Reliance Communications and Airtel are selling the product in India.
Reports suggest, 30,000 units of iPhones were shipped to India of which 6,000 were iPhone 5s. The stocks are likely to come in next two days.
In order to tap the 60 per cent unorganised retail industry, Kishore Biyani aims to expand the presence of Big Bazaar Direct to 250 by October-end and 1200 by March. The expansion is taking place via franchise model and offers the service of call-to-order to its customers. This format fill a thin line between the neighbourhood stores and organised modern trade.
In an exclusive interview with CNBC-TV18, Biyani informs that the venture will offer 1800 SKUs, currently and expand to 10,000 going further. The aim will be to sell high margin products including electronics and general merchandise. Moreover, to cater to the special call-to-order, Future Group has also set up a new supply chain, thus catering to pan-India needs which cannot be sufficed through physical retail, otherwise.
Under the franchise model, the franchisee will have to invest Rs 3 lac in the business and then the company will put in systems and give a tablet to them. Currently, the delivery is promised between three-seven days.
The brand which revolutionised organic on an organised level, Organic India, now aims to reach new heights as it eyes turnover of Rs 500 crore in next two-three years. To achieve the target, the brand plans to open exclusive retail outlets starting from Lucknow.
The brand which clocked turnover of Rs 150 crore last year, specialises in herbal and organic products for all your needs including beverages, kitchen commodities and other food supplements.
Interestingly, the Lucknow based company gets 60 per cent of its business from overseas while India accounts for 40 per cent.
The French luxury cosmetics retailer, Sephora, is reported to soon end its ties with Genesis Colors, as LVMH owned L Capital plans to exit Genesis Colors. Sephora is in talks with DLF Brands for partnering in India.
It was in late September this year that L Capital had asked Genesis Colors to buy out its 40 per cent stake in Genesis Luxury or sell the marketing arm altogether. Genesis Luxury holds brands including Jimmy Choo, Giorgio Armani and others.
Infact, Genesis has been asked to get its accounts audited by the ‘Big Four’ audit companies in the country.
The e-commerce player, whose future looked bleak, a few months back, gives it back by raising another huge amount of funding. This time Flipkart, one of India‘s largest marketplace, has raised $160 million from from private equity investors. The investors include Dragoneer Investment Group, Morgan Stanley Investment Management, Sofina , Vulcan Capital and Tiger Global. (The investment is surely more than what was expected, like we reported.)
This takes the total amount raised by Flipkart, this year, to $360 million. The amount is has been raised to drive, build and strengthen technology and accelerate its supply chain.
Its been only three months that Flipkart made news by raising $200 million, the largest amount in the Indian e-commerce segment so far. And now one of India’s largest marketplace is in talks to further raise $125 million from its existing investors, Tiger Global Management Llc, Accel Partners, Iconiq Capital, and MIH.
The investment is being driven for Flipkart Holdings Singapore, an entity created early this year in order to comply with the Indian laws of FDI in e-commerce.
What’s exciting is that when the company had sold its front end operations to WS Retail India in February this year, it was speculated that this was the end of the one of the old e-commerce players on the Indian retail circuit. But with raising one of the largest investments three months back, Flipkart, quietly back-flipped and made a grand re-entry into the market. “Now who’s your daddy!” moment!
One of the leading coffee chains in the country, Costa Coffee, has launched its fourth store in Chennai, Besant Nagar. This is Costa’s fourth store in the city in less than six months.
The store is located at Elliot beach which one of Chennai’s most popular beaches and offers a beautiful view of the sea. The serene view of the sea clubbed with a cup of Costa’s fine coffee promise to make this place a favourite hangout zone amongst Chennai’s coffee lovers.
This new store is designed around three levels – ground, first and terrace and has the capacity to accommodate hundred people. Customers can get an equally magnificent view of the sea from the first level and the terrace. An open terrace with cool breeze blowing in the evening is just the right place to unwind over coffee after a hectic day.
With its international design aesthetic, the new store conveys a distinctly youthful vibe and a global verve in its look and feel. The store will serve over 25 varieties of hot and cold coffee and flavoured drinks along with a scrumptious range of snacks and food items from both the international range as well as a range customized to suit Indian tastes and preferences.
From the House of Inditex, Massimo Dutti, gets approval to sell its clothing, apparel, footwear and accessories in India. The brand has received approval from Foreign Investment Promotion Board (FIPB) this weekend.
The Inditex owned brand Zara already sells in India through a JV between Inditex and Tata Trent. Similarly, Massimo Dutti will also enter through the same JV. Though the brand’s first application was rejected last year, but now the brand will enter under the new FDI policies.
Massimo Dutti which was acquired by Inditex in 1991 to enhance the group’s product portfolio, is one of the expensive brands in the group. It sells daily and formal wear which is detailed in design, is classic and available for men, women and kids.
India still has the gap of a brand that serves the complete family with classic formal wear which will be well filled by the brand.
With this brand, Inditex is set to gain a stronger foothold among the consumers who are already glued to buying Zara in India. Zara has been a hit and this has been seen in recent revenue reports of Rs 450 crore in the fiscal ended March’13, leaving behind some of the largest Indian retail names in the country.
Indigo Nation, the official style partner of the upcoming movie, Besharam, has launched a special collection inspired by the movie. Besharam.IN, the collection, is all about colours and is completely in sync with look of the Youth Icon, Ranbir Kapoor, in the movie.
The movie is all set to launch on 2nd Oct and will star Ranbir and his parents, Rishi and Neetu Kapoor.
The collection will be available both online and through Indigo Nation stores across the country.
Future Group which is working towards a special retail model for its fashion brands, is, on the other hand, also looking at divesting its stake in three fashion brands. Clarks, Celio and Turtle will be divested in next one year.
According to CP Toshniwala, CFO, Future Group, the company will raise Rs 800 crore by selling stake in these three brands. Future Group holds 50 per cent stake in Celio and Clarks which in Turtle the stake is 26 per cent.
Along with fashion brand, the group also looks at finding PE partners for eZone, the electronic retail store and HomeTown, the home furnishing and improvement retail store.
Future Retail has a debt of Rs 4,500 crore and lot of steps have been taken to curb this, the biggest being selling Pantaloons to ABRL.