Sagar Malviya, The Economic Times Mumbai, 10 July 2015 Spanish fashion brand Zara has become the fastest apparel brand in India to cross the $100-million sales mark, five years after it opened its first shop here. Inditex Trent, the joint venture between Zara brand owner Inditex and Tata Group's retail arm Trent, posted 24% annual growth in sales for the year ended March 2015 at Rs 721 crore ($114 million), Trent said in its annual report released on Thursday. In FY13-14, it had sales of Rs 580 crore. However, sales growth has nearly halved from a year ago period when,…
CONTINUE READING
Ankita Rai, Business World New Delhi, 13 July 2015 To take advantage of the growing demand in the entry-level premium car segment, Maruti Suzuki India (MSIL) has just unveiled a new chain of dealership under the Nexa brand to showcase its premium offerings. MSIL's desire to serve the premium end of the market is not new - over the years it has launched two products, the Grand Vitara SUV and premium sedan Kizashi, to woo this market segment. Unfortunately, these brands have not been able to make the kind of impact the country's largest carmaker had hoped for. In a…
CONTINUE READING
Sapna Agarwal, MINT Mumbai, 13 July 2015 Three brands from Madura Fashion and Lifestyle, a unit of Aditya Birla Group company Aditya Birla Nuvo Ltd, crossed the Rs.1,000 crore revenue mark in terms of consumer price in fiscal 2015. Fiscal 2016 will see two brands from Arvind Ltd’s retail unit Arvind Lifestyle Brands Ltd cross the same milestone. Consumer price is the price at which the product is sold to the consumer. It could be lower than the maximum retail price (MRP) as it takes discounts into account. “More and more brands are now crossing the Rs.1,000 crore mark. In…
CONTINUE READING
Gurbir Singh and Vishal Krishna, Businessworld New Delhi/Bengaluru, 9 July 2015 As many as 12 big retailers, including Future Group, Landmark, Shoppers Stop and Globus, met Commerce Minister Nirmala Sitharaman in New Delhi on Wednesday and pitched strongly against the Union government's proposal to grant 100 per cent foreign direct investment (FDI) status to e-commerce and e-tailing companies. Led by Future Group CEO Kishore Biyani and Shoppers Stop vice chairman B.S. Nagesh, organised retailers demanded a level playing field between the brick-and-mortar retail industry and e-commerce. They also presented a memorandum highlighting the violations and what they call "malpractices" of…
CONTINUE READING
Madhura Karnik, Quartz India New Delhi, 9 July 2015 India is working up a voracious appetite for chocolates. A delectable combination of rising disposable incomes, changing lifestyles and a young population’s growing penchant for indulgence has transformed India into one of the world’s fastest growing chocolate markets. A July report from French investment bank Societe Generale predicts that in the next five years, global confectioners will see the highest growth in four markets: India, Mexico, China and Brazil. But it’s not just affluent Indians who are craving for chocolates, although they still comprise nearly 80% of country’s chocolate sales, according…
CONTINUE READING
