MUMBAI, 28 December 2010, MINT (A partner to the Wall Street Journal) Sapna Agarwal The Bindra family, the owners of Biba Apparels Pvt. Ltd, which owns a popular women’s ethnic wear brand of the same name, is on the verge of splitting, said a person directly involved in the development, who did not want to be identified till the details are made public. Sanjay Bindra, 45, will sell his stake for around Rs 75 crore in an all-cash deal, added this person. Siddharth Bindra, 36, confirmed that Sanjay Bindra was exiting the business and added that he would be buying…
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Business Standard, Mumbai,16 Dec 2010 Raghavendra Kamath The apparel & textile major now wants separate strategies for each of its brands. Last month, S Kumars Nationwide (SKNL) invited pitches from advertisement agencies for its brands. The purpose: repositioning of the brands that include Reid & Taylor and Belmonte. The company has already finalised two out of five pitches from the shortlisted agencies and wants to complete the entire process by January. But the move surprised many as the brands are already in clear price segments with little overlap. But Ashesh Amin, director of the textile and apparel major, thinks a…
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Indiaretailing.com,15 Dec 2010 Payal Kapoor The MRP, or the maximum retail price, of a product plays an important role in the customer's purchase decision. It tells them the maximum amount they need to spend to buy a product. The rationale behind printing the MRP on products is to protect the consumer from being overcharged by retailers. No doubt, the MRP does its job well in informing consumers about the 'fair price' of a product, but it fails to give retailers the much-needed flexibility in determining the price based on various factors – services offered, location of the store, among many…
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RETAILER, December 2010 issue Varun Jain National and international brands are yet to make deep inroads into the country’s regional markets, where lies a huge opportunity. The regional markets in the country are dominated by the regional retailers. But national and international retailers are trying to get better of them and are now modifying their offerings to suit the regional tastes and preferences. The result has been very encouraging and more brands and FMCG companies are likely to get into this practice. Companies like Godrej, LG, Barista and Future Group among others have already started micro-localising their offerings in order…
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Retailer, December 2010 Varun Jain Recently, 150 all new glittering Mercedes Benz cars rolled out of the company's premises to be delivered to Aurangabad Group in Aurangabad, a small town of the country. The group consists of top industrialists, businessmen and professionals. Bookings for US-made Harley-Davidson cruiser bikes, expensive luxury and sports sedans from Mercedes-Benz, BMW, Audi and Porsche have hit the roof, with some dealerships experiencing shortfall in vehicle supply. The fact that luxury in India is growing fast is quite evident. Luxury retailers from across the globe are thronging India, where they see a lot of potential for…
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