Agence France Presse Mumbai, October 23, 2013 The Centre One shopping mall on the outskirts of Mumbai is gloomy and bereft of customers, even during India's annual festive and wedding season when retailers traditionally cash in. "Business is dull, usually weak," said one bored-looking fashion salesman. The shopping centre's empty look is no exception. In the past decade, supermarkets and malls have spread across India's large cities and towns, fuelled by fast economic growth and excitement about middle-class buying power. A "Malls in India" report released by Images Research last month found 470 shopping centres were operational this year, up…
Sagar Malviya, The Economic Times Mumbai, October 17, 2013 Barely a week after the world's top retailer Walmart ended its association with Bharti Group, its British rival Tesco has moved a step closer to entering the $450-billion Indian retail market with the Tatas launching a neighbourhood convenience store format modelled on Tesco Express. Tesco Plc, the world's third largest retailer, has a partnership with Tata Group's Trent under which it provides back-end support and retail expertise to the Indian conglomerate's Star Bazaar hypermarkets. Tesco Hindustan Wholesaling, the Indian unit of the British retailer, supplies merchandise including some of its own…
Raghavendra Kamath, Business Standard Mumbai, October 16, 2013 Spencer's Retail, part of the Sanjiv Goenka group, was looking to break even in financial year 2010-11. As the deadline passed, the retailer postponed the target by another 18 months to the second quarter of 2012, only to revise it again. Now, Spencer's hopes to turn profitable at the earnings before interest, depreciation, taxes and amortisation (Ebitda) level by December 2013. Spencer's is not the only company which has fallen behind its break-even target. Saddled with high overhead costs and low margins in a slowing economy, food and grocery retailers such as…
Much has been written about the various relationship break-downs that have happened in the Indian retail sector in recent years. The biggest, most recent high profile ones are between Bharti and Wal-Mart and the three-way conflict playing out at McDonald’s. Other visible ones include Aigner, Armani, Jimmy Choo, and Etam, while Woolworth’s faded away more quietly because, rather than being present as a retail brand, it was mainly involved in back-end operations with the Tata Group. I think it’s important to frame the larger context for these relationship upsets. Most international companies, non-Indian observers as well as many Indian professionals…
Anjana Pasricha, Voice of America New Delhi, October 11, 2013 After waiting for years to open superstores in India, the world’s biggest retailer, Walmart, has split with its Indian partner, delaying its ambitious plans to expand in the country. India opened the door for foreign retailers last year, but tough regulations are proving to be a deterrent, and virtually no foreign chains have come forward to invest in the country’s $400 billion retail sector so far. After parting ways with its Indian partner, Bharti Enterprises, this week, Walmart said it will continue to run the 20 wholesale stores that the…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
