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.
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.
With Christmas, its time to gift, celebrate and enjoy. So we bring you a collection of 10 Must Haves for festive days ahead. Spread the warmth and party hard.
- Fratelli brings the SETTE 2010, the sumptuous red wine which leaves one with a warm and toasty feeling is the perfect pick to add a thrill to winter festivities. A signature blend of legendry wine maker Piero Masi, Creator Fratelli Wines, SETTE is a barrel-aged red wine matured in French oak for 14 months. Handpicked by Piero, the top one percent of the grapes from Fratelli’s vineyard at Akluj go into the fulfilling of this dream. The vintage has a bouquet of Cabernet Sauvignon, Cabernet Franc and Sangiovese. With their most premium blend on offer, Fratelli hopes to make this Christmas season all the more special. Price in Mumbai: Rs 1650
- Are you celebrating this Christmas and New Year at the beach? Then The Beach Company brings to you a perfect collection of beach wear products including a red sarong which is perfectly in tune with the festivities.
- Alchemy De Luxe launches an exquisite range of candle stands and lamps this season to add warmth and cheer to your beautiful abode. Elegant in style these candle stands and lamps are available in various shapes and sizes. The candle stands are made of silver and guilding metal, where as the lamps are made of silver and copper.
- Mirari unveils its latest pieces for gifting this Christmas to liven up the day and year ahead for the little ones. Mirari’s offerings this season have something magical for every child- boy or girl, to add that extra spark and love this festival. Cute, lovable and cuddly animals have been transformed into charms, pendants & bracelets. You can choose from a wide range of beautifully enameled jewellery in 18k gold studded with diamonds & colour stones. There is a little something from Santa’s troop for everyone.
- Mustang lets you get into the Christmas theme completely as it launches a special range of Christmas inspired socks. Designed in green and red, with a tinge of white, the socks are beautifully designed with things that represent the festival.
- Toykraft let’s your kid learn creating gifts with their range of DIY games and products. For Christmas, the brand has unveiled a kit that enables the child to make an amazing table-top Christmas tree on their own. The straws, connectors & paper are used to construct the tree framework and branches. A terracotta pot serves as the base for the tree with several decorations with the mini gift boxes, glitter, cotton wool, bells and star. Besides the décor provided in the kit, they can give it their own personal touch while having a merry time. Price: Rs 399
- Wiliam Penn, this Christmas, brings to you the classic range of Lapis Bard Pens. Gift this special collection pens to your family or friends who love authentic premium writing instruments. The Classic Fountain Pen is sheer poetry with its wide-bodied barrel, sculpted in high grade metal. Crowned with a sloping tassie embellished with the Lapis Bard lyre, the lyre also appears on the beautifully decorated solid gold nib. The body and cap are finished with black lacquer and rhodium plated appointments. The pen has the option of cartridges or converter fills. These pens come with a guarantee for five years against manufacturing defects.Price: INR 17,500; Available at all William Penn stores
- All set to party this Christmas and New Year? Celebrate the season of festivities with with Ritika Bharwani collection. The stylised collection offers a wide array of evening gowns and with red and green gowns being the showstoppers.Price on Request; Available at : Ritika Bharwani Studio, 204, Turner Road, Bandra West
- Frazer and Haws gives you a brighter way to celebrate the festival of Christmas as it launches a new range of candle stands, vases, lamps and more. The collection also caputres beautiful Mother Mary and Jesus frames. The exclusive pieces, made for sterling silver, are a treasured possession to be gifted to your loved ones.Available at: Frazer and Haws, Shop No. 11, Main Market, Lodhi Colony, New Delhi.
Tesco becomes the first international brand to file for multibrand retail FDI in India as it plans to acquire 50 per cent stake in Tata Trent, hence forming a JV. It was earlier in 2012 when FDI in multibrand retail was approved.
Tesco has filed for the JV with DIPP and if approved, the stake will be bought for $110 million. 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.
The stores will not use Tesco’s brand name anywhere. With this agreement, the stores will sell a wide variety of products ranging from food to clothing, under the tag ‘A Tata and Tesco Enterprise’. Moreover, the JV also aims at opening three to five stores in India annually.
Now that Walmart has broken ties with Bharti Retail and is going through a rough phase, Tesco gets a great opportunity to emerge in the market.
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
Titan Industries has reached the landmark number of 1000 stores across country. The milestone store has been opened in Bangalore and reflects the future of modern retail and lifestyle industry and offers a unique fusion of watches and eyewear.
With this Titan becomes first Indian specialty retailer to reach the number in seven varied formats. With a retail footprint across 177 cities, 26 states, 3 Union Territories and a total retail area of 1395712 sq ft, Titan Company has stores for Watches under World of Titan, Helios and Fastrack; Jewellery under retail brands Tanishq, Zoya, GoldPlus and Eye Plus for multibrand eyewear.
Continue reading Titan opens 1000th store in India
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.
One of India’s leading lighting solution manufacturer, Anchor Lighting, has unveiled its first state-of-the-art LED lighting showroom in Mumbai. The ‘touch and feel’ experience store houses a wide variety of home decorative lighting concepts and solutions.
With an in-house simulation room, customers will be able to view the lighting effects of various kinds of lighting fixtures and installation options in different settings. The showroom brings alive, ample possibilities of LED lighting and helps customers understand how the integrated lighting solution works in a given home environment. It will also have a comprehensive range of lighting solutions for the entire home. The 47 new models that will be available at the showroom include Large Ceiling Light, Compact Ceiling Light, Chandelling (chandelier-like decorative ceiling light), Down-light, Line Light and Wall bracket models.
Speaking on the launch, Makoto Kitano, Director of Lighting Business Division and Vice President of Eco Solutions Company said, “Driven by our commitment to the Indian consumer and the local market, this new LED lighting experience centre will help us serve our customers better with our best-in-the-class products. It will encompass our overall approach to impeccable quality assurance, demonstrating the importance of stylish, carefully-crafted lighting in the daily lives of our consumers.” He further added, “Anchor contributes significantly to Panasonic overall turnover and we are hoping to drive increment in the market share from this segment in the coming years.”
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.