What in a few years will be India's largest shopping mall today is a kilometre-long, three-storey deep hole in the earth marked with a billboard the size of a tennis court.
As if unsatisfied by the success story of Maruti, the new chief of the Indian arm of Japanese auto giant Suzuki Motor Co's on Friday claimed it will overtake the parent company in the next two years.
"We are developing the cash and carry model with an overseas partner," Future Group's CEO Kishore Biyani told PTI here, without giving details.
Wadhawan Holdings (WHPL), promoters of Spinach retail chain, is entering lifestyle retailing with the launch of global brands such as Ed Hardy, Christian Audigier and Kitson. The company has floated a subsidiary, Wadhawan Lifestyle Retail (WLRPL), which will invest nearly Rs 500 crore (Rs 5 billion) to open around 100 outlets in the next seven years.
During the third quarter of 2007, the overall Indian personal computer (notebooks and desktop combined) market grew 25.1 per cent year-on-year, in terms of unit shipments, to 1.8 million. For the same period last year, desktop PC shipments showed growth of 10.9 per cent.
Now, the property developer has snapped up a controlling 63.9 per cent stake in the loss-making Piramyd Retail at Rs 30 per share. The Rs 159 crore (Rs 1.59 billion) Piramyd has been running 7 large Piramyd lifestyle outlets and 33 small convenience stores called TruMart.
Luxury to me means the best possible materials being used along with great design and manufacturing processes to put together a product. That alone can be the reason for those hefty price tags. A product of such excellence that it deserves every bit of money spent on it. And the label that gets tacked on these products promise that or should at least promise that much.
The Modi mask is one item in the publicity materials market that is selling briskly this year. The mask has Modi smiling enigmatically, his close-cropped grey beard and trademark spectacles in place.
When it comes to the economic battle of the Asian giants -- China vs India -- plenty of people have opinions about which contender has the upper hand. But relatively few have practical experience of doing business in both countries.
While initial Black Friday numbers out of the retail sector seemed promising, official November sales left much to be desired. Fifty-one percent of retailers missed projected November sales numbers. And we all know how the Street feels about missed numbers. Target got severely punished after missing its analyst-predicted mark.
Surveying Wal-Mart shoppers during the first weekend in December, America's Research Group found that 32% planned to buy electronic goods at the store this year, compared to 20% that did so in 2006.
Metro Cash & Carry, the global German wholesale major, will invest about Euro 40-45 million for setting up two new marts in Kolkata and Mumbai, expected to become operational by the first quarter next year. It is also planning to enter Punjab.
Some of the world's richest people are the world's most frugal people.
Reader Vinod Kumar sent us this picture from Chennai.
In an interview with the Financial Times last week, Jos Luis Duran, Carrefour's chief executive, said he was poised to sign a retail joint venture in India.
When French Retailer Carrefour enters the Rs 1,200 crore (Rs 12 billion) cash and carry segment in 2009, it would face tough competition from established players such as Germany's Metro, Bharti-Wal Mart, Reliance, Pantaloon, Wadhawan Retail and others entrants like Tesco and Costco.
The world's second largest retailer Carrefour on Tuesday said it will enter India's $330 billion retail market through the franchise route by 2009, for which it is talking to three potential local partners. The French firm, which has already made a soft launch of its cash and carry business, will keep its identity separate from the retail venture to conform with Indian laws.
The Renaissance Jewellery IPO is reasonably priced but there are short-term concerns.
The UK retailer earned an EBITDA of 2.7 million in the year ended June 2007 on the back of 17 per cent growth in sales, said Welspun India director Akhil Jindal in Mumbai on Monday. Christy's, which was losing money, customers and market share when it was acquired by Welspun, has reversed the tide by winning back customers, adding new ones and expanding its reach by opening more shop-in-shops.
Plethico Pharmaceuticals, a leading Indian herbal and nutraceutical (a combination of drug and food products) company, has agreed to acquire Natrol, a nutritional products company in the US, for Rs 318 crore.
"We remain positive on the outlook for the emerging market (EM) equities. Although this asset class is entering its sixth year of outperformance compared with the world equities, valuations are not yet expensive on a historic and relative basis, especially in the light of a much higher growth potential at the earnings level," says Angus Stening.
In August this year, ABN Amro Bank decided to renew the lease for its 3,100 sq ft office space at Nariman Point's Sakhar Bhavan, but the landlord dropped a bomshell by jacking up the rental to Rs 500 per sq ft.
India's largest biotechnology company Biocon is planning to tap the potential of biosimilars (generics or copycat versions of biotech drugs going off patent) in the regulated markets of the US and Europe, besides taking Insugen, its own version of insulin, to the global markets in a big way.
The Left parties will not allow the India-United States nuclear deal to move forward and will continue its support to the United Progressive Alliance government so long as it sticks to the Common Minimum Programme, Communist Party of India-Marxist leader Prakash Karat said on Thursday.
In addition, the region may become more attractive to "efficiency-seeking" FDI, owing to the plans of several countries such as India and China, Indonesia and Vietnam to develop their infrastructure.
England beat Estonia 3-0 in a one-sided Euro 2008 Group E qualifier at Wembley Stadium on Saturday.
Marketing representatives conducted consumer research in four major areas of India --Mumbai, Kolkata, Delhi, and the tri-city region that includes Bangalore, Hyderabad and Chennai.
This segment had an estimated market size of Rs 7,080 crore (Rs 70.80 billion) at the end of 2006-07 and is expected to grow at an average rate of 30 per cent in 2007-08. Among the various businesses, online travel segment leads the pack. It is expected to grow at the rate of 30 per cent and reach Rs 7,000 crore (Rs 70 billion) by the end of 2007-08.
A sector that was to have created millions of new jobs in the country is reporting job losses before it even gets under way.
Fourteen states that include Maharashtra, Punjab, Andhra Pradesh and Rajasthan have amended the Agricultural Produce Marketing Committee Act this year. This allows farmers to sell their produce directly to buyers offering them the best price.
Lord Swaraj Paul emphasised on Monday that India can become a developed country if the issues of education, health and security are dealt with.
Industry estimates suggest that over the next four years, organised retail in India will receive investments in excess of $25 billion from domestic and foreign players, taking the size of organised retail to $ 75 billion.
India, ranked the fifth largest retail destination globally, at present employs more than 21 million people in organised and unorganised retail and contributes to 13 per cent of the country's GDP.
Supporting West Bengal Chief Minister, Buddhadeb Bhattacharjee's stand, Mittal said, "Let us see for the next 7-10 years what Indian companies deliver and then we can take a call."
Bharti Group's retail venture in partnership with the world's biggest retailer Wal-Mart is going to be a low-key affair with its launch planned in phases over a period of time.
As companies open the floodgates for corporate social responsibily projects, it means a new source of funds for many NGOs who are being hired to do the good things the companies want to show in their portfolios.
Sectors that are insulated from the sub-prime mortgage crisis unfolding in the US are the heavyweights in Indian stock indices. In comparison, sectors like information technology and pharmaceuticals, which depend a lot on the US market, carry less we
US retail giant Wal-Mart, which has signed a joint venture with the Bharti Group for wholesale cash and carry business, will restrict itself to technical support and training in Sunil Mittal firm's foray into retail.
India ranks second in capital market inflows and fourth in merger and acquisition deals in Asia Pacific (including Japan), as deals worth $65.033 billion were reported in the first eight months of calendar 2007.
The fight between TVS and Bajaj might remain out of court, but TVS Motor's stand spoke of the company's resolve infused by its chairman Venu Srinivasan.
© 2024 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Feedback - About us - Terms of use - Grievances