For the right price you can buy anything from Harrods. Staff at the Knightsbridge store are said to have procured everything from a baby elephant to an alligator for its ultra-wealthy clientele. Today, however, its colourful owner, Mohamed Al Fayed, drew the line at selling the store itself, insisting the London landmark “is not for [...]
Pantaloon hits FII limit, no further buying of shares allowed: RBI
March 30, 2010 By Leave a Comment
The Reserve Bank today said foreign institutional investors cannot purchase shares in Kishore Biyani-promoted Pantaloon Retail anymore as the company has hit the FII limit. “No further purchases of shares of Pantaloon Retail would be allowed in the stock exchanges in India on behalf of FIIs/NRIs/PIOs,” RBI said in a release. The RBI direction came [...]
Future Group Co-Creates Private Brands with Celebrities
March 29, 2010 By Leave a Comment
Move over brand ambassadors, the latest mantra for promoting a brand appears to be co-creation. And retail major Future Group seems to be making the most by co-creating its private brands. Instead of an endorsement fee, the celebrity involved in brand co-creation, will get a pie in the revenue of the product, said sources close [...]
NTC (National Textile Corporation) stepping into Retail, ties us with Rosebys
March 27, 2010 By 1 Comment
National Textile Corporation (NTC) is about to return to retailing in a chic avatar by modernising its 100-odd showrooms as the state-run company looks to ride back to health and become an integrated textile and garment player. “We are looking at the retail business to market our products to the end consumer,” said NTC managing [...]
Crisil says retail rents will fall further by upto 6%
March 26, 2010 By Leave a Comment
Painting a grim pictue of the retail real estate market, Crisil Research today said retail rentals would further fall an average of six per cent in 2010 due to oversupply of mall spaces. Retail rents fell up to 30 per cent between March to December 2009 as retailers scaled back expansion to save cash during [...]
Retail sales bounce back after dreadful start to 2010
March 26, 2010 By Leave a Comment
Strong sales of homewares pushed up the value of sales by 1.9% from January and 4.9% on the same month last year, according to figures from the Office for National Statistics. The volume of sales increased at a slightly slower rate on a year earlier as shops took the opportunity to push up prices. Better-than-expected [...]
Designer Furniture at half the price is the USP of made.com
March 25, 2010 By 1 Comment
Investors including Lastminute.com founder Brent Hoberman and Bebo co-founder Michael Birch have pumped £2.5m into a new dotcom company that hopes to use the internet to cut out the middleman in the furniture trade and deliver cut-price designer goods. The new venture, Made.com, launched yesterday and is the brainchild of 28-year-old entrepreneur Ning Li. As [...]
Retailers tread warily into cash-and-carry
March 25, 2010 By Leave a Comment
Retail firms are making a cautious entry into the cash-and-carry, or wholesale trading, format, betting on a huge demand base of unorganised independent stores, and in a bid to lure foreign investments. Nearly 80 percent of India’s $450-billion retail sector is made up of small family-run shops, according to consulting firm A T Kearney. This [...]
Big Bazaar to expand in east, to open 18 new stores by October 2010
March 23, 2010 By 59 Comments
Kishore Biyani’s Future Group has decided to invest more than Rs 125 crore over the next six months to expand the Big Bazaar chain of hypermarts in the East. The group intends to nearly double the number of Big Bazaar outlets from 22, at present, to 40 by October in the region. The latest thrust [...]
Opening FDI in Retail can boost agricultural and manufacturing output: Rajan Mittal
March 22, 2010 By Leave a Comment
Leading industrialist and Ficci president Rajan Bharti Mittal has said allowing foreign direct investment in multi-brand retailing is critical to boost agricultural and manufacturing output in India and urged the government to open up the sector to 49 per cent FDI. Mittal, who heads Bharati Enterprises, argued that FDI in multi-branding retailing would bring the [...]
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