Latest Retail Industry News & Business Updates

Citu in talks with US labour group AFL

Retail

December 6, 2006

Citu, the trade union arm of the CPM, is apparently holding talks with the American Federation of Labour (AFL) to collaborate and tie up with their counterparts. Incidentally, Citu has asked for AFL’s cooperation in organizing and implementing a nationwide campaign against Wal-Mart’s entry into the Indian market.

M.K Pandhey, Citu President said that AFL delegates will attend our national conference in New Delhi in January 2007. They will make presentations highlighting instances of Wal-Mart’s anti-employee stance across its retail chain in the US.

Bharti -Wal-Mart JV under PMO scrutiny

Retail

Indiaretailing Bureau

December 6, 2006

The Prime Minister’s Office (PMO) will now look into the Bharti-Wal-Mart deal, as a response to the concerns raised by the Left parties, soon after the deal was announced. The Commerce Ministry will prepare a detailed note, followed by discussions in the Parliament. The deal, however, received a clean chit from the department of Industrial policy and promotion (DIPP) under which FDI takes place.

HyperCITY plans 20 stores by 2009

Retail
Shopping Centres

Indiaretailing Bureau

December 6, 2006

K Raheja Group’s hypermarket chain HyperCITY, is on a major expansion spree. The company is gearing up to invest about Rs.3 billion, to open 20 HyperCITY outlets by early 2009. Currently, there is only one HyperCITY outlet in the country, located in Mumbai; however the company plans to open outlets in Lucknow and Aurangabad besides metro cities.

Consumer on a spending spree

Retail

Indiaretailing Bureau

December 5, 2006

Average consumer spending in India increased by about 42 per cent, primarily due to increase in the disposable income. Adding an impetus to this upward trend, is the rapid shift of the Indian retail industry from an unorganized structure to an organized one. This change in the consumers shopping and spending behavior facilitates the perfect entry for global retail giants into the Indian market.

For instance, the spending at lifestyle stores such as Shopper’s Stop and Lifestyle has doubled in the past two years. At Lifestyle, the average customer spends approximately Rs.1400-1600, which further increases by 40 per cent during the festival seasons. Similarly, at supermarkets, the average ticket value increased to Rs.600 from Rs.250-Rs.350 a few years back.

Reliance buys Adani Retail

Retail

Indiaretailing Bureau

December 5, 2006

Gujarat based Adani Group sold its retail wing, Adani Retail to Reliance Retail for Rs.1-Rs1.10 billion. This is the first major acquisition in the domestic market by Reliance Retail. Through the acquisition, Reliance gets access to 54 stores in a variety of formats such as neighborhood stores, supermarkets and hypermarkets in 9 cities in Gujarat. The company’s infrastructure and sourcing facilities are an added advantage for Reliance. Reportedly, other companies such as Subhiksha, Trinethra and Tata’s were also interested in purchasing the company.

Lotte Mart likely to enter Indian market

Retail

Indiaretailing Bureau

December 5, 2006

Lotte Mart set up an office in Delhi to study the domestic market, which suggests their interest in entering the Indian retail market. It is also on look out for Indian franchise partner to establish its discount stores. The company’s initial interest is in entering malls and then work at stand alone formats. Standard Lotte Mart stores usually are over 3,000 sq ft in size and stocks fresh and processed foods, home appliances and apparel.

The company is part of the Lotte Group, Korea’s fifth largest conglomerate, with interests in confectionary, restaurants, retail, construction and petrochemicals. Lotte Mart lost to its rival and the leading retailer of Korea, Shinsagae, in the run to acquire Wal-Mart’s stores in South Korea. Lotte Mart was responsible to some extent for Wal-Mart’s exit from South Korea.

India to be largest retail industry

Retail

Indiaretailing Bureau

December 4, 2006

Confederation of Indian Industry (CII) organized an international conference on `Private Labeling in Food – Gaining Shelf Space and Market Space’ with Tech 2006 in Chandigarh. Experts participating in the conference unanimously agreed that the Indian retail industry is likely to become the largest in the world.

Managing Director of Mega Food Company, Amit Vaishnav reiterated that modern retail in India accounts for approximately 36 per cent of the retail industry just in a decade’s time, and is expected to cross 70 per cent by 2020. An estimated 10,000 new retail stores are expected to come up, which would approximately cover 2.5 lakh sq feet.

Landmark Group ventures into hospitality business

Retail

Indiaretailing Bureau

December 3, 2006

Micky Jagtiani led, the Landmark Group, which operates the Lifestyle retail stores in India, is set to enter the hospitality business, with an investment of about $30 million. The group announced plans for setting up a chain of three-star hotels, food courts, restaurants and amusement parks under a new entity Citymax Hotels. Ravi Saxena,

Managing Director of Citymax Hotels India Pvt Ltd, a Landmark Group company, said that the company plans to set up a total of 12 three-star hotels within the next 3 years across all the major cities in the country. The company also intends to set up a chain of 30 amusement zones called `Fun City’, and food courts in several malls across tier I and II cities. Meanwhile, the company is considering 15-20 brands which it would like to tie up with.

Decathlon to enter India

Retail

Indiaretailing Bureau

November 30, 2006

After the government recently said that it would allow FDI up to 49 per cent in multi-brand retail of sports goods Decathlon, French sports goods retailer is looking for a partner to foray into India. Decathlon is learnt to have finalized its India strategy.

After its exit form US market, Decathlon’s entry in India has become very critical. Decathlon’s entry in India is going to be in a phased manner. The retailer will set up a warehouse in the first phase, for which it has begun negotiations with real estate consultants in Gurgaon for suitable locations.

It is also planning to enter into a partnership with an Indian company, though it is unclear yet whether the retailer would opt for the franchisee model or enter a joint venture.

Though not confirmed yet, but sources in the know have said that Decathlon may forge an alliance with Delhi-based Sierra Industrial Enterprises for distribution in the Indian market. Sierra Industrial’s retailing arm, Sports Station India, which introduced Nike in India and also distributes Italian sports goods brand Lotto in the country.

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Citu in talks with US labour group AFL

Bharti -Wal-Mart JV under PMO scrutiny

HyperCITY plans 20 stores by 2009

Consumer on a spending spree

Reliance buys Adani Retail

Lotte Mart likely to enter Indian market

India to be largest retail industry

Landmark Group ventures into hospitality business

Decathlon to enter India

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