Rashmi Pratap, The Hindu Businessline Mumbai, June 13, 2014 In a market where homegrown and multinational companies alike make a beeline for the hinterland, here’s one that has boarded a bus to urban India after becoming a household name in villages. Jyothy Laboratories has meticulously targeted rural consumers to grow its brand into the country’s fifth-largest in the fast-moving consumer goods category. Every month, truckloads of Ujala fabric whitener and detergent, Maxo mosquito repellent coil and Exo utensil cleaner arrive at the doorstep of retailers in lakhs of villages, saving them precious time and transportation costs. The goods are also…
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Pia Heikkila, for the International Bar Association Mumbai, June 11, 2014 The unprecedented victory by Narendra Modi in the world’s biggest democratic elections in India has created what can only be described as a wave of optimism, with many hoping that the country’s economic and business climate will now take a similarly dramatic turn for the better. Foreign investors are watching closely in the hope that the country’s new Prime Minister is able to move swiftly to implement much needed change. This optimism isn’t without foundation: there have already been promises to make India more investor friendly and resolve ongoing…
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Mayu Saini, Women's Wear Daily (WWD) New Delhi, June 9, 2014 In another fillip for onlinefashion retail in India, FashionandYou, one of the pioneers in the online fashion retail space, has raised $10 million in funding, the company said Monday. The etailer, which got a boost from its early partnership with Lakme Fashion Week is known for its focus on designers and its flash sales model. Aasheesh Mediratta, chief executive of FashionandYou.com, said that the additional investment would help "acquire more customers to bolster our flash sale dominance and build a more cohesive brand." Competition in the fashion retail segment…
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Meghna Maiti, Financial Chronicle Mumbai, 7 June 2012 Even at a time when the economy has put in its worst performance in nine years, Mukesh Ambani, chairman of Reliance Industries, continues to be overtly optimistic about the conglomerate's retail business. Ambani expects Reliance Retail to increase its revenues by around five-six times to Rs 40,000-50,000 crore in the next three-four years. At present, unlisted Reliance Retail has a turnover of approximately Rs 7,600 crore. “We are investing aggressively in this business (Reliance Retail) to consolidate and strengthen our leadership position in this sector. With scale, supply chain integration and continuous…
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Ankita Rai, Business Standard New Delhi, June 2, 2014 Gurgaon-based online home furnishing and furniture retailer FabFurnish, which operates both online and offline stores, has found its niche in smart expandable and collapsible furniture. Translated, this means it creates flat-pack products that are assembled at the customer's home. Why is this insistence on flat-pack and in-home assembly? Simple: Cost reduction. DIY (do it yourself) products reduce logistics cost, damages and storage costs, ensuring phenomenal efficiencies at the backend. But hold the applause. The whole idea is borrowed: the e-retailer has been inspired by global furniture behemoth IKEA. "Flat-pack furniture can…
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