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.
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.”
If we get what the little birdy says, India will soon have its very own Amazon or eBay, as Reliance Retail aims to foray in to e-commerce within six to eight months of time. The e-retail business is likely to be based on marketplace model.
In the recent quarterly results, the retailer had cleared that it will be adopting multi channels to retail. Ofcourse, e-retail becomes one of the multi channels. Continue reading Reliance Retail plans e-retail foray