Business Standard
Cash & Carry competition: UK chain Booker plans 20 India stores in 5 yrs
The USD6.5-billion UK-based cash and carry group, Booker, is looking to expand its India operations. Even as US giant Walmart, French chain Carrefour and German group Metro are seen as the big daddies in the segment, now Booker would add to the competition.
With three stores in Maharashtra (in Mumbai, Pune and Thane), the UK chain has begun exploring options outside the state. In the next five years, it is planning as many as 20 cash and carry stores, the company's India managing director, Zunaid Bangee, told Business Standard.
Jubilant FoodWorks' same-store sales a disappointment
Indian company Jubilant FoodWorks' financial performance has cooled, albeit marginally, compared to previous quarters, thanks to higher base effect and persistent inflation, putting pressure on consumers' discretionary spending. Nevertheless, growth rates in the March quarter (4Q) are good on an absolute basis. The company is optimistic about the business prospects of Domino's, as well as the recently launched Dunkin' Donuts (first store in New Delhi).
India needs to develop and offer more quality retail spaces at commercially viable costs
The US-based global management consulting firm, A T Kearney, in its Global Retail Development Index 2011, has ranked India as the fourth most attractive nation for retail investment, among 30 emerging markets. The rapid expansion of India's retail industry also means there is great demand for real estate. Analysts say international hypermarket chains like Walmart, Tesco and Carrefour – apart from national chains such as Big Bazaar and More– will absorb a large chunk of retail real estate in tier two and tier three cities.
Interview: McDonald's has shown the way, it's great for Subway, says Subway CEO
The man who started Subway 47 years ago and made its first sandwich himself is now targeting 1,000 outlets in India in five years and 5,000 in 10 years. There are 260 outlets now. Fred DeLuca, founder and CEO of restaurant chain Subway, started a sandwich shop "Pete's Super Submarine" at Bridgeport (Connecticut) when he was 17. It was started with a USD1,000 loan from family friend Peter Buck to pay his college fee. DeLuca sees high potential in the Asian market, especially India and China.
Retail sourcing spurs an India supply club
Designco's sprint from brass mill to mass supplier in high-quality home decor to the likes of Walmart and IKEA showcases the transformational scale of a sourcing shift
Vipul Gupta, 25, leans back in his large, towel-covered chair, inside a predictable wood-panelled office, and begins a story. It’s about how his grandfather, Narayan Kumar Lohia, a purveyor of watches in Haridwar, established a brass rolling mill some time in the 1970s. And, subsequently, brought his four sons together to start a brass handicrafts company in 1982.
Aditya Birla's The Collective to expand presence in India
India's multi-brand luxury lifestyle retail outlet The Collective, a wholly-owned subsidiary of listed Aditya Birla Nuvo is planning to expand its footprint across India by opening 8-10 stores in eight Indian cities in the next three years. The company is investing around INR90 crore (INR900 million, USD17.49m) for this expansion. It has recently opened its fourth store in Pune and will later in Chandigarh, Hyderabad and Chennai by end of this year.
India's FDI in services up 62pc in Apr-Jan last fiscal
Uncertain economic conditions in the western markets are working to India's advantage when it comes to foreign direct investment (FDI) inflows into the services sector, which went up by an impressive 62 percent during April-January last fiscal.
The financial and non-financial services sector had attracted FDI worth USD4.83 billion during the 10-month period of 2011-12 as compared to USD2.98 billion in the same period of previous year, according to official data.
India's jewellery sales to lose shine this year
In a major blow to Indian diamond jewellery manufacturers and retailers, demand for domestic jewellery is likely to decline 50 per cent in the next five months due to a short buying season this year.
Unlike in past years, when the wedding season stretched from March to early June, it is expected to be concluded in a fortnight this year. A fourth of annual jewellery sales takes place during this season. Also, there is hardly any big festival in the next four months. Hence, there’s a dry summer ahead for jewellery makers.
India's Maruti Feb car sales up 6.5pc
India's s top carmaker, Maruti Suzuki today reported a 6.5 percent rise in February car sales at 118,949 units as compared to 111,645 units in the same month last year.
The car sales were at 115,000 units in the month of January.
India's 3Q pain in store for GDP growth
India's current financial year is set to record the worst economic expansion in its third quarter, as economists do not see the GDP growing beyond 6.7 percent against the backdrop of a near-flat growth in the industrial production numbers.
The first quarter of 2011-12 saw the economy growing by 7.7 percent, while the figure was 6.9 percent in the second quarter, thus delivering a 7.3 percent economic expansion in the first half. Advance estimates pegged the economic growth at 6.9 percent for the entire FY12.
