MUMBAI, March 6, 2006: The presence of Tier-II cities on the growth map of leading retailers has been on the rise in recent months. While sales are growing by 50-60%, albeit on a lower base, leading retailers say that volumes have been significant enough to encourage them to pan out quickly to other similar markets. Currently, while the top metros growing at 35-40% are the biggest contributors to total sales, retailers say the format in the smaller cities is more profitable, owing to lower investments in land and manpower. In fact, the entry of several retailers in smaller cities has…
In February, just before the mega-blitz of “India Everywhere” at the World Economic Forum, the Indian government took a step forward. Amidst shrill outcries from its coalition partners and domestic anti-FDI lobbies, it finally decided to bell the cat, and let foreigners invest in retail again! About a month has passed since the cabinet announcement, the dust has settled, and it is a good time to consider what has happened. Since the initial euphoria of the early-to-mid 1990s when international retailers entered the market including companies such as Benetton (50% JV) and Littlewoods (100% subsidiary), this revised policy provides the…
Written By Dr. H K Sehgal In their frantic efforts to reduce cost to attract and retain customers, retailers / buyers have now innovated a new way to source - through reverse auction. Under this system, buyers / retailers issue specifications and invite, online, lowest bids for the garments from across the world. Online discussed this new phenomenon with Devangshu Dutta, a textile and apparel industry professional and international consultant, on the future of this alternative to sourcing as is being done today. This, he felt, could only be possible for mass product categories rather than small, niche products that…
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As legacy retailers balance speed with customer experience, is near-instant delivery a sustainable goal for fashion, or will the costs outweigh the rewards?
@devangshu
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Ikea has been around in India for about eight years. and has taken a long-term view on India with product and format customisation, and future investment plans of over $2 billion.
Modern retail, consumption, brand building, M&A, balance of power between brands & retailers/platforms, sustainability vs growth and more; tune in if you're building for the long run
@vishalkrishna @devangshu
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