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.
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
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.”
The premium and luxury decor and jewellery brand, Kinerhs Collection, opens it flagship store in Chennai.
Spread across 1000 sq ft, the store boasts of the latest and exquisite collection by the brand from product categories including artifacts, decorative and accessories. With over 300 products offers a wide range of interior and outdoor products.
Shrenik Mehta Director Kinerhs collection says, “Our new store will offer products in silver and gold where customers will be able to decorate an entire home or just pick up an accent piece to instantly update their spaces.”
Kinerhs is also available online.
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.”
India’s ace fashion designer, Manish Malhotra, opens first flagship store in New Delhi. Located at Mehrauli, the store spells traditional luxury as the products strongly focus on bridal wear and couture collections for both men and women.
The designer brings the ‘old world charm of opulent India’ in the city of old heritage by placing the standalone store in a haveli spread across 6000 sq ft. The decor is contemporary, and the primary colours used are grey and gold, which add an aura of elegance and encapsulates the mesmerizing charm of the designer’s signature style.
Store’s lavish grandeur retains the historic significance of an imperial haveli along with designer’s modern sensibilities to create a whole new world of refined luxury.
The store showcases the designer’s latest couture pieces, inspired from the 1930s to all his signature bridal collection and the latest Diffusion line, which is lighter and a modern collection that not just reflects the designer’s vision for younger minds but also his passion for Indian craftsmanship. It includes lehengas, saris, anarkalis, lighter luxe line of colour-blocked tunics with pants, cape tunics, sherwani jackets, ghagras and sharara pants for women. Men can choose from a range of bandgalas, bandi jackets, shirts and kurtas.
Collection showcases works such as Kashmiri, Chikankari, Phulkari, which have been important to Manish’s collections in the recent past.
The Australian designer sanitaryware brand, Caroma, has announced its entry into the Indian market. The announcement was made when the brand opened its flagship store at MG Road, New Delhi.
The flagship store is a 400 sq mts experience centre that would offer people a first-hand experience of the innovation marvels created by the company over the years.
The brand aims to bring to the country its remarkable innovations in creating ultra modern and water efficient toilets that lead the way to the future.
Caroma is globally known for blending design innovation, cutting-edge technology and water conservation in its products. The exceptional commitment Caroma makes to water conservation applies to their pursuit of design excellence. It is this philosophy that has made Caroma an industry leader in high efficiency toilets, urinals, and bathroom sinks.
“We believe there is a huge market for us in this country as the demand for better technology and designs increases. There is also enough space for new players in the middle to higher sanitary ware market and Caroma being the world leader in many aspect will certainly become the preferred choice of customers looking for luxury and innovation,” said Kishore Kapoor, Chairman Starmerc Infratech, the Indian franchise holder of Caroma.
One of their most sought after innovation is world’s first dual flush toilet system which they introduced in the early 1990s. What was unique about Caroma’s dual flush toilets was its two-button system – for a full flush and a half flush. With its vast water saving potential it quickly became a global standard.