Raghavendra Kamath, Business Standard Mumbai, November 28, 2013 India's retail sector needs no bigger testimony than the one it got from the CEO of Britain’s largest clothing retailer Marks & Spencer (M&S), Marc Bolland. On a recent trip to India, he said the company has plans to make India its biggest international market, outside its home market. In fact, India tops its list of priority markets, ahead of China too. The British retail chain, which has a joint venture with Mukesh Ambani’s Reliance Industries, plans to more than double its stores in the country and open some of world's first…
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Raghavendra Kamath, Business Standard Mumbai, November 25, 2013 As French menswear brand Celio looks to become the sole owner of its Indian business, it has drawn up plans to not just open more stores, but make them look better as well. Celio, whose joint-venture with Kishore Biyani's Future Group is called Celios Future Fashions, has got clearance from the Foreign Investment Promotion Board (FIPB) to increase its India stake to 100 per cent in July this year. Celio has already increased stake in the JV to 65 per cent. It is planning to increase the count of both its standalone…
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Leonie Barrie, just-style.com November 15, 2013 Marks & Spencer has so far failed to make much of a dent in the Indian clothing sector since it first stepped into the country in 2001. It currently operates 36 stores in there since forming a joint venture with local conglomerate Reliance Retail in 2008. But it's easy to see why India appeals. The Indian apparel and footwear market is valued at US$51bn and is the third-largest market in Asia-Pacific following China and Japan, according to data supplied to just-style by market research company Euromonitor International. With a compound annual growth rate (CAGR)…
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Vishal Krishna, Businessworld Bangalore, November 12, 2013 If the Rs 1,000-crore Page Industries, the Bangalore-based manufacturer and distributor of international innerwear brand Jockey is in the spotlight today, it’s because of a strategic move it made four years ago. Sunder Genomal, managing director, Page Industries, introduced a women’s innerwear line, marking his entry into the $1.7-billion segment. He backed this up with a ramping up of Page Industries’ retail presence from 18,000 to 23,000 outlets over the next three years. The women’s range received a push-up, with over 100 styles on offer. That appears to have paid off as the…
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Zahra Khan, Sapna Agarwal, MINT Mumbai, November 12, 2013 Marks & Spencer (M&S) on Monday said it expects to have 80 stores in India by 2016, making the country the largest international market by stores outside of the UK. Marc Bolland, chief executive of London-based Marks and Spencer Group Plc, said India is the retailer’s new “priority market” and a “key sourcing hub”. “We also want to expand to attractive tier-II cities like Surat and Kanpur, and aim for more than 80 stores by 2016,” he said in an interview, adding, “China used to be the priority international market, but…
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