By Aniruddha Basu MUMBAI (Reuters) Friday December 5, 2008 Textile companies may not benefit much from the rupee's weakness as a slump in global demand and prior currency hedges trim bottomlines in an industry dominated by exports, officials said. The partially convertible rupee has fallen almost 21 percent in 2008 and hit a record low of 50.65 rupee against the U.S. dollar on Tuesday. But demand from some large retailers overseas has slowed, company executives added. "Because of the recession, what is happening is that demand for products are going down," said Jayesh Shah, chief financial officer, at apparel maker…
Whatever you might say about "customer relationship management", you can't fault some companies for trying. Only, sometimes they just try too hard. For instance, one bank (that shall remain unnamed) sent an email with birthday wishes WEEKS after the event. You could laugh at the mistake, blame it on a fault with the IT system, whatever. But what do you do when the very next day they follow it up with an emailed apology that says: "Dear Customer We apologize for inadvertently e-mailing a Birthday wish to you. Kindly accept our sincere apology for the inconvenience caused to you. We…
In 1998, Stan Davis and Christopher Meyer, two collaborators of the Ernst & Young Centre for Business Innovation, wrote a groundbreaking book under the title: 'BLUR. The speed of change in the connected economy.' The authors defined blur as 'the accelerating pace of change of our post-modern economy'. They wrote: "Because we are so newly caught up in the whirlwind of this transition, we are experiencing it as a blur." In the meantime, in some business circles, 'BLUR' has acquired the status of a cult book. Raving about this book may be exaggerated, but its main message is certainly worth…
For all those who have admired the consistency and presentability of produce in western supermarkets, here’s proof that tough times really focus us on substance and force us to look beyond skin-deep beauty. Even in fruits and vegetables. British supermarket Sainsbury has challenged European Union guidelines that restrict the sales of fruits by certain physical standards. Sainsbury's is questioning EU regulations that prevent selling "ugly" fruit and vegetables. Due to EU regulations such as size of cauliflower (minimum 11 cm diameter) and the shape of carrots (requirement that there should be a single root, not multiple), Sainsbury estimates that up…
By K G Narendranath, ECONOMIC TIMES Bureau DELHI, 5 Nov 2008 Much before the index of industrial production (IIP) showed a big decline (IIP grew just 1.3% in August against 10.9% a year ago and 7.4% in the previous month), the production data from the textile industry indicated a slump. IIP had risen 8.1% in 2007-08 but during the year, major textile groups reported dismal growth figures—wool , silk and manmade fibre textiles grew just 4.2%, cotton textiles 4.1% and textile products (which includes garments), a more tepid 3.3%. As per textile ministry data, spun yarn output increased 4% in…
Brands are ready to roll the red carpet for consumers this festive season. But for #India's #jewellery brands this #Diwali will likely be a tad different from previous ones.
Reliance Retail & 7-Eleven ending 5-year franchise deal in India @SagarMalviya_ET
@devangshu:"convenience stores pressured by q-comm; family-kiranas survive with lower overheads & different margin expectations than corps"
Speciality Restaurants expanding into high-margin QSR and cloud kitchen spaces - @devangshu shared his perspective on the opportunities and realities of managing a diverse "house of brands" in the food service sector #India #strategy #diversification
