Videocon to roll out GSM services, to launch across 100 cities in 100 days
Videocon is all set to roll out GSM mobile services in 100 cities in the next 100 days and is targeting 10 million subscribers by 2014. Videocon Telecommunication Ltd (VTL) has been recently rechristened to Videocon Mobile Service and is a subsidiary of the $2.5 bn consumer durables giant Videocon Group.
Videocon is one of the [...]
Aditya Birla Retail to become $ 2.5-bn entity by FY18, IPO on the Radar
Aditya Birla Retail Limited (ABRL), the retail arm of the Aditya Birla Group, aims to be an USD 2.5-billion entity by 2017-18, a top company official said. “We aim to become an USD 2.5-billion entity by 2017-18. The growth will be driven by opening new stores, launching private labels and closing unviable stores, among other [...]
Spar hypermarkets in overdrive, to open 25 hypermarkets by 2012
After a phase of consolidation, billionaire Micky Jagtiani-owned Max Hypermarkets, which operates Spar-branded superstores, plans to expand its presence to new geographies and open 25 hypermarkets by 2012. This will result in a 10-fold increase in the company’s retail space, from 120,000 sq ft currently to 1.2 million sq ft.
Managing director Viney Singh said the [...]
Coca-Cola’s new retail formula
India is ranked among the top two markets for Coca-Cola last quarter. CNBC-TV18’s Tanvi Shukla and Avni Raja find that the key reason for this growth has been the company’s new focus on modern retail. T Krishnakumar, CEO, Hindustan Coca-Cola Beverages, says, “We are concentrating and investing in modern retail ahead of the curve.”
That’s Coca-Cola [...]
Aditya Birla Retail speeds up, to open one hypermarket a month
Aditya Birla Retail plans to invest Rs 1,800 crore over the next eight years to scale up its ‘More’ hypermarkets across the country. It looks to open one store per month at an investment of around Rs 20 crore per store, said Thomas Verghese, CEO of the company, on Wednesday at the launch of a [...]
New President of FICCI – Rajan Mittal – to push for FDI in Indian Retail
The country’s apex industry lobby, the Federation of Indian Chambers of Commerce and Industry (FICCI) has a new man in charge. The vice chairman and managing director of Bharti Enterprises has taken over as the president of FICCI and one of the top agenda for Rajan Mittal, younger brother of Sunil Mittal, during his term [...]
Texas Pacific Group likely to buy Vishal Retail, convert it to Cash & Carry
Private equity fund Texas Pacific Group (TPG) may take over the assets of the troubled Vishal Retail and convert it to a cash-and carry operation that will see the exit of RC Agarwal, who built a nationwide chain out of the shop he founded in Kolkata 24 years ago. Agarwal owns about 62% stake in [...]
Future Group’s Home Solutions to merge with Pantaloon Retail
Kishore Biyani’s Pantaloon Retail is merging Home Solutions Retail with itself. Home solutions three store formats and brands – Ezone, Collection I and Home Town, under which it retails different products, will merge into Pantaloon. Ezone specializes in consumer durables and electronics, Collection I specializes in high end furniture and furnishings and Home Town is [...]
Bharti Retail enters Jaipur, lines up $2 bn for expansion of retail in India
Sunil Mittal-promoted Bharti Retail entered Rajasthan by launching the state’s first compact-hyper store ‘Easyday Market’ in Jaipur. The company currently has 63 stores in cities across Punjab, Haryana, Rajasthan, Uttar Pradesh and New Delhi. These stores are of two formats Supermarkets, which are known as “easyday”, and Compact Hyper, which are known as “Easyday Market”.
“Our [...]
Mothercare gets FDI nod, to partner DLF
UK-based retail major Mothercare on Tuesday received government approval to invest Rs 25.87 crore in a retail joint venture. The speciality retailer of maternity garments, baby clothes and equipment, will pick up a 30% stake in a joint venture with DLF Brands, the retail management arm of realty giant DLF.
Mothercare had announced the JV last [...]
