Future Group, Hypercity, Spencers, Shoppers Stop happy with annual sales: Retailers
The trend of annual sales of large retailers, including the Future Group, Shoppers Stop and Spencer’s Retail, has set in. Interestingly, these sales contribute 20-40% to the overall revenues of these companies, along with…
Maggi losing out to new entrants: Nielsen
Maggi instant noodles, foods major Nestle’s flagship brand which has dominated instant noodles for nearly three decades, is losing market share on a monthly basis to newer entrants such as…
ICICI Bank moves debt tribunal to recover Rs 150-crore Subhiksha debt
ICICI Bank, the country’s largest private lender is knocking on the doors of the debt recovery tribunal (DRT) in an attempt to recover dues from Subhiksha, which owes the bank over Rs150 crore. The DRT is expected to give its final verdict this month. The troubled retail chain was forced to shut all its stores following…
Multibrand retail FDI may remain in deep freeze amid protests
pening up the multi-brand retail sector to foreign investors has always been a difficult proposition and if responses of the domestic retail sector will swing opinion in Udyog Bhavan, then it will be long time before the government will take this big step. Perhaps foreign inv
Shopping at Delhi’s new T3 terminal
Delhi Duty Free Services Pvt. Ltd. (DDFS) is a joint venture company between DIAL (Delhi International Airport Limited), IDFS (Indian Duty Free Services) and ARI (Aer Rianta International). The company was awarded the concession to manage and operate the Duty Free Shops at Terminal 3, Indira Gandhi International Airport in Delhi…
Pantaloon net rises 170% to Rs 99 cr on volume play
Pantaloon Retail (India), the country’s largest publicly-traded retailer, has recorded a 170% jump in net profit to Rs 98.9 crore in the quarter ended June 2010 compared with the year-ago period due to increased sales followed by a revival in the economy…
Piramals to pay around Rs 600 crore to regain control of Crossroads
The Piramal family will soon regain control of the mall in Central Mumbai that provided many in this sprawling megapolis their first experience of shopping outside the neighbourhood corner store. A real estate fund owned by Ajay Piramal will buy a majority stake in the company owning the mall, SoBo Central, from the…
Vishal Retail may become a shell company on Texas Pacific recast
Cash-strapped Vishal Retail may soon become a shell company if the restructuring package proposed by lenders is implemented. Texas Pacific Group (TPG), which has agreed to infuse Rs 500 crore, has put in a condition that…
RoC submits report on Subhiksha to Corporate Affairs Ministry
The Registrar of Companies (RoC) southern region on Friday said it has submitted its report on troubled retailer Subhiksha to the Ministry of Corporate Affairs. “Our report is already given (to MCA)…From our side, everything is over. There is nothing pending from us…
Gitanjali to add 300,000 sqft, enter China and Middle East
Gitanjali Gems Ltd, India’s biggest jewelry retailer, plans to open about 500 stores by the end of the financial year as it seeks to tap demand in the world’s biggest gold-buying nation. The company plans to add 300,000 square feet of retail space in the year through March…
