Vishal Krishna, Businessworld Bangalore, 30 April, 2012 It is a marriage of two companies with their business roots firmly entrenched in Kolkata. The $4-billion Aditya Bitla Nuvo has acquired a part of Pantaloon Retail India Limited’s lifestyle business called ‘Pantaloon’. Eighty-six such stores will now form part of a new entity, controlled by Aditya Birla Nuvo (ABN), which will be automatically listed on the BSE and the NSE. A source from the Future Group added that ABN has for the moment acquired a minority stake by infusing Rs 800 crore through debentures, which will be converted to equity when the…
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Writankar Mukherjee and Sarah Jacob, The Economic Times Kolkata/Bangalore, April 24, 2012 More than 750 electronics outlets have either stopped selling Samsung products or cut back on fresh orders after the Korean brand slashed dealer margins on its televisions and home appliances early this year. Samsung has initiated talks with several retail chains to resolve the issue, but says the development will not impact its sales. Videocon-owned Next Retail, the country's largest electronic retail chain, and large regional chains such as Vijay Sales, Kohinoor, Girias, Adishwar and Great Eastern all say Samsung's new terms are unacceptable in an industry that…
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Meghna Maiti , Financial Chronicle Mumbai, April 24, 2012 Noel Tata-led Tata International on Monday said it had entered into a 50:50 joint venture with Wolverine World Wide for the wholesale distribution of Wolverine’s ‘Merrell’ and ‘Caterpillar’ footwear and apparel brands in India. “This venture is in line with Tata International’s strategy of growth, focusing on growing presence in footwear distribution and retail in domestic and international markets,” said Noel Tata, managing director of Tata International and half brother of Ratan Tata, the chairman of Tata Sons. The joint venture will have an arrangement with Trent, where Noel Tata is…
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Writankar Mukherjee, The Economic Times Kolkata, April 23, 2012 Hair stylist Jawed Habib, who runs a chain of more than 300 salons across India, plans to take his venture global in a strategic partnership with Procter & Gamble, the world's largest consumer goods company. Procter & Gamble will not pick up equity in the venture, but will provide bridge financing and help identify locations as well as the kind of services to offer and how, said Habib who has finalised plans to set up three salons in London and one in Singapore. "Our initial thrust will be Europe and we…
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Vishal Krishna, Businessworld Bangalore, April 21, 2012 On 10 April, the Department of Industrial Policy and Promotion (DIPP) under the commerce ministry issued a circular to clarify the grey areas in foreign direct investment (FDI). While the note titled ‘Consolidated FDI Policy’ answered some key questions around foreign investment in multi-brand retail, it also put a question mark over the e-tailing business in the country. The note says: “E-commerce activities refer to the activity of buying and selling by a company through the e-commerce platform. Such companies would engage only in business-to-business (B2B) e-commerce and not in retail trading, inter…
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