Meghna Maiti, Financial Chronicle Mumbai, March 20, 2012 Azim Premji, the billionaire chairman of Wipro, is once again turning his attention to the retail sector. His investment fund, PremjiInvest, has bought nearly half the shares on offer in the recently concluded qualified institutional placement (QIP) of the Tata group’s listed retailer Trent. PremjiInvest has invested Rs 122 crore in Trent which runs the Westside chain and the Star Bazaar chain, according to a Trent disclosure to the Bombay Stock Exchange (BSE) on March 16. This makes PremjiInvest, with 4.91 per cent, the second largest shareholder after the Tatas who have…
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Rashmi Pratap, The Hindu Businessline Mumbai, March 14, 2014 Circa 2002: Waiting for a flight at the Mumbai Airport is a nightmare. There is just one coffee shop and a long queue to announce it. Your ability to wait out and pay for a cup of coffee will be of no help. If the shop’s staff, employees of the Airports Authority of India (AAI), are not irritated by the time your turn arrives, you’ll get your coffee. And if you’re lucky, it will be hot. Else, your only takeaway from the shop will be a sullen “khatam hai (it’s over)”.…
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Raghavendra Kamath, Business Standard Mumbai, March 6, 2014 According to the Internet & Mobile Association of India, the e-commerce sector had grown from $3.8 bn (Rs 23,560 crore) in 2009 to $9.5 bn (Rs 58,900 crore) in 2013. The share of e-tailing had grown from 8% in 2009 to 16% in 2013. And while they are not physically present in this country, some of the largest US-based retailers — JC Penney, Nordstrom, Macy’s, Ann Taylor — are increasingly betting on “shipping to India” or selling their products here through their e-commerce portals, to test the waters. Most of these portals…
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Raghavendra Kamath, Business Standard Mumbai, March 3, 2014 Half of international brands which are present in the country had entered the local market through franchise or distribution agreements, said a new study. The logic for opting for this route is to gain control in terms of the product, price and partly the retail experience, said a study by retail consultant Third Eyesight. "Amongst the new brand launches this year (2013), many are luxury or bridge to luxury brands. For such brands, the low volumes may not justify India-specific sourcing to meet the 30% local sourcing clause of the FDI policy.…
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Ankita Rai, Business Standard New Delhi, February 15, 2014 Beware when you see 50 per cent off online on your favourite Chanel, Birkin or Louis Vuitton bag that you have been eyeing for long. Chances are it is a Chinese piece of art and a perfect imitation. While e-commerce websites are hailed for the wide assortments and discounts they offer, the medium has come under fire for increasing sales of counterfeit products. A recent Assocham report puts the size of the fake luxury products market in India at Rs 2,500-3,000 crore. That is 5-6 per cent of the overall luxury…
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