"The factories need consolidation and control as they operate independently with different human resource (HR) and logistic policies. The segmented operations cannot have power and focus on quality," K R Kim, vice-chairman and CEO (global operations), Videocon, who steered LG to market leadership in his earlier stint, told Business Standard.
Videcocon Industries plans a major consumer electronics retail foray across West Asia, Europe, Africa and Latin America under the brand name "VC" to raise global revenue shares from the current 2 per cent to 50 per cent by 2011.
As the market grows young, old brands go under the knife. In 1897, a young man named Ardeshir Godrej gave up law and turned to making locks. He went on to make safes and security equipment, and toilet soap from vegetable oil. He wouldn't have imagined that one day the business that started after his name would grow into a conglomerate with over Rs 7,000 crore (Rs 70 billion) in revenues, or that one of its top executives would wear long, red-streaked hair.
With Mumbai grappling for additional land for expansion, the city's western suburb Bandra could see availability of close to 60 acres of real estate for development.
Mumbai-based diamond processing and jewellery manufacturer Gitanjali Gems aims to become a global retailer. Lately, the Rs 3,500-crore (Rs 35 billion) company has been in the news for international acquisitions, consolidation in the domestic market and diversification in lifestyle retailing.
Puma, the German sports brand, is foraying into swimwear segment in India. The company's Indian arm is eager to repeat the Chak De! India experience through its product placements. Puma is introducing 20-30 designs of swimwear for men and women, comprising performance and leisure wear. Puma feels that the category has immense potential in the leisure space. The beachwear concept is picking up. It operates in 20 exclusive brand outlets & is looking at closing this year by 35.
Virgin Mobile is flying in the face of conventional wisdom with a niche strategy for the Indian market. Virgin is faced with a market that is crowded by telecom players. It would take some good strategies to break through the thick maze. Their strategy is to deliver a tailored & relevant offering for a single, distinct segment - the youth. 70 mn Indians aged between 14 & 25 years own cell phones. Over the next three years, Virgin expects 50 mn new subscribers in this segment.
The move comes on the back of the potential for the conventional televisions in India. Industry watchers said high-end televisions were gaining popularity in urban markets, while first-time buyers and rural markets prefer conventional televisions. Globally, Sony has taken a strategic decision to exit from the CRT TV business from this month-end due to a slow demand. Sony had reduced LCD prices to align with Korean duo LG Electronics and Samsung a few months back.
Indian apparel brands are looking at China as the new retail destination.
The changing residential demand and the increasing awareness about energy efficiency has prompted durable companies to introduce air conditioners with newer capacities. Though the 1.5 tonne air conditioners are expected to be the conventional volume drivers, the models with capacity of one tonne and below are estimated to grow at a faster pace.
The company aims to recruit 10,000 people by the end of this year as a part of its branding strategy to focus on service and move away from discounting. In the initial phase the company has entered into agreements with ITIs in the states like Maharashtra, Gujarat, Delhi, Punjab, Assam, Karnataka and is in the last leg of signing with Uttar Pradesh.
Manoj Kumar, CEO, e-Zone and Electronics Bazaar, said,"The Mega e-Zone, measuring 25,000 sq ft and above in area, is being developed as a destination store for electronics purchase. The store will offer seamless space for brands to retail their own merchandise."
Bose Corp has decided to enter the auto parts sector, with suspension systems for luxury cars.
Off-season sales, when shopping malls and high streets buzz with tempting offers of up to 70 per cent discounts on your favourite brand of shirts, jeans or even home textiles
Godrej appliances is targeting to become the third largest player in the air conditioner market.
The World Gold Council initiates micro-finance scheme to promote investments by low-income groups.
Indian jewellery firms are increasingly showing interest in the international market and are planning to venture into luxury lifestyle products.
Business Standard Annual Brand Derby picks Bingo as the most successful launch.
The slowdown in the world's largest jewellery market could provide an opportunity for acquisitions. Following the acquisitions of two jewellery chains in the US, Samuel Jewels in December 2006 and Rogers in November 2007, Gitanjali Gems is eyeing a few more buyouts in the world's largest jewellery market.
Consumer finance schemes and credit card purchases are gradually enjoying a greater share in the sale of consumer durables.
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