Meghna Maiti, Financial Chronicle Mumbai, December 31, 2012 In the year gone by, high inflation left consumers with lower disposable incomes. Analysts said in 2012, consumers were worried about their jobs, volatility in the stock market and soaring real estate prices. More importantly, the grim outlook on fresh hiring, muted forecasts on wage hikes and lack of any spectacular bonuses created a sentiment of caution. Consumers are now awaiting the finalisation of budgets in the New Year to decide whether they should live it up or save for the rainy day. While recent reports on the economy have been mixed,…
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Sagar Malviya, The Economic Times Mumbai, December 25, 2012 Teenager Aniruddha Aggarwal keeps nearly a dozen pairs of jeans stacked up in his cupboard. The brands range from international labels such as Wrangler and Lee to local ones like Killer and Flying Machine. But one brand that is barely visible in Aniruddha's closest is Levi Strauss. Reason? Aniruddha's father swears by the denim brand that sports the leather tag with the iconic two-horse design - virtually every denim in his wardrobe has the Levi's stamp on it. "Levi's is a good brand, but it's what my father and his generation…
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Raghavendra Kamath & Sharleen D'Souza, Business Standard Mumbai, December 22, 2012 Quality space and high street seem to sell even in a slow economy. While many malls in the country are going vacant and space supply surpassing demand in many cities, shortage of quality space and heavy demand from retailers for high-footfall areas have pushed up high-street rents by 58 per cent this year. Vittal Mallya Road in Bangalore, Colaba Causeway in Mumbai and Camac Street in Kolkata have seen a rise in rents of 58 per cent, 56 per cent and 33 per cent respectively, said a study from…
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Yassir A Pitalwalla, Meghna Maiti, Financial Chronicle Mumbai, December 10, 2012 McDonald’s outlets in south and west India are going for a changeover as Hardcastle Restaurants (HRPL), the master franchisee for west and south India operations is preparing for a reverse merger with its parent Westlife Development (WDL). With the changeover, HRPL aims to connect better with older customers and increase sales. “Fashions too change over time. To keep ourselves relevant we are reimaging the look of our restaurants by going in for softer lighting, more use of wood and more apt graphics. This whole new design has already been…
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Raghavendra Kamath, Business Standard Mumbai, November 19, 2012 His rivals and analysts may not agree, but Future group Founder and CEO Kishore Biyani insists that his mall concept, Central and discount chain Brand Factory, have become “the largest department store network” in the country. Central and Brand Factory, whose financials are integrated, posted a turnover of Rs 2,200 crore in FY 2012, while Raheja-owned department store chain Shoppers Stop posted sales of Rs 2,167 crore and Westside, the department store of Tata-owned Trent, posted a turnover of Rs 770 crore. “Both the formats are bigger in sales than all other…
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