The world’s largest retailer Wal-Mart has solicited support from the US government for entering the multi-billion dollar Indian retail market, where foreign investment norms are posing hurdles to its entry. The US-based Wal-Mart Stores, one of the world’s top revenue grossers with over $400 billion of total annual sales and present in 15 countries, is [...]
India ranks 39th in global favourite places for retailers
May 30, 2010 By 1 Comment
The country has emerged as the 39th most preferred destination for retailers in the world, while China is the fifth in the list, which continues to be led by Britain. According to a survey by ‘How Global is the Business of Retail?’ by realty consultant firm CB Richard Ellis (CBRE), India which was ranked 44th [...]
Knight of Bra’s checks out
May 30, 2010 By 1 Comment
So, the man behind one in four of the bras and knickers in the UK has begun his long goodbye. Sir Stuart Rose, the executive chairman of Marks & Spencer, presented his final annual profits last week, after a stint that has, he likes to point out, lasted longer than the second world war. His [...]
Bajaj Capital ventures into cafe retail biz plans 25 outlets
May 29, 2010 By Leave a Comment
Wealthy investors and high net worth individuals can now get advice from expert financial consultants over a cup of coffee in special outlets. Investment advisory and financial planning firm, Bajaj Capital today said it has ventured into organised coffee retail chain business with the launch of its first ‘Wealth Cafe’ outlet in Noida. The company [...]
Can pump in more than $2bn if FDI rules are eased: Bharti Retail
May 28, 2010 By Leave a Comment
Bharti Enterprises group company Bharti Retail, which is on track to invest $2 bn by 2018 said it may scale up its investment if the government relaxes FDI norms in the retail sector. “If the rules for the game are changed, we can also revisit our plans,” Bharti Enterprises Vice-Chairman and Managing Director Rajan Mittal [...]
Blood on the shopfloor
May 28, 2010 By Leave a Comment
There’s a bloodbath coming, said one supermarket boss in private this week. His reasoning was that a slowdown in food inflation, or even a slip into deflation, plays havoc with supermarkets’ financial models. Add a few tax rises to constrain shoppers and the pressure is on. Expect a fierce attack on costs, especially on jobs, [...]
Corner Bata store a passe
May 28, 2010 By Leave a Comment
Shoe major Bata India (BIL) has tweaked its retail strategy, deciding to steer clear of the small store format and come up with large stores with an average size of over 3,000 sq ft. It plans to open 210 stores in the next three years at an investment of Rs 200 crore. Talking to the [...]
RIL’s retail biz loss narrows on lower costs, sales pick-up
May 26, 2010 By Leave a Comment
The retail arm of Reliance Industries (RIL) has cut its losses as a new centralised supply chain brought savings, and shoppers started spending more as the Indian economy returned to a high growth path after the slowdown of 2008. The retail business, which consists of a number of wholly-owned subsidiaries of RIL, ended the financial [...]
Opening up retail not a given: Officials
May 25, 2010 By Leave a Comment
The government may make its first tentative steps to opening up the organised retail sector to foreign companies, a reform seen as dealing with massive supply bottlenecks that have kept inflation stubbornly high, a senior official said. The commerce and industry ministry may issue a discussion paper on further opening up retail, currently restricted to [...]
Marks & Spencer says worst of recession is over
May 25, 2010 By 1 Comment
Marks & Spencer chairman Sir Stuart Rose declared today that the UK has come through the deepest ravages of the economic turmoil. Speaking after M&S posted profits of £632.5m for the last financial year, Rose said he was not worried about the UK falling into a double-dip recession. “Marks & Spencer has had a good [...]
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