By Manu Balachandran, Forbes IndiaApr 27, 2022 Sometime in 2002, in his mid-20s, Ravi Modi wanted to buy a Mercedes. Not because he was a petrol head or because he wanted to flaunt his newfound success in his hometown, Kolkata. “My belief was that if you can afford it, buy it,” says Modi, who’s dressed in a blue kurta pyjama at his house in Newtown, Kolkata. His then-four-year-old business, Vedant Fashions, which made popular ethnic wear, Manyavar, was doing reasonably well and money was flowing smoothly. However, as he firmed up his plans to buy a Mercedes, his father, who…
Written By Christina Moniz Brand and marketing experts, while expressing surprise at the development, as the two labels enjoy significant brand equity, also noted that if true, it highlights the challenges faced by legacy brands, with international brands growing their footprint in the country. Apparel and textile major Raymond may be in the midst of talks to sell its prized apparel brands Park Avenue and ColorPlus, amid rising speculation about the future of the company’s apparel business. As per media reports, the company is in talks with Danish retail group Bestseller — which houses labels such as Jack & Jones,…
Written By Devika Singh The Enforcement Directorate (ED) on April 19 accused Amway India of running a “multi-level marketing (MLM) scam” and attached its assets worth Rs 757.77 crore. This is not the first time that Amway India has been accused of running a ‘pyramid scheme’. Read on to understand how direct selling is different from pyramid schemes and why has the ED attached Amway India’s assets? The direct selling industry is again under the regulatory scanner in India with the Enforcement Directorate’s (ED) move to attach the assets of the Indian unit of US-based direct selling company, Amway. The…
Written By Suvashree Ghosh, Bijou George, and Sankalp Phartiyal It was a contentious plan to repay overseas bondholders in full that brought what would have been India’s biggest retail deal to a grinding halt. Debt-laden Future Retail Ltd.’s offshore bondholders -- a relatively smaller part of the creditor pool -- were promised 100% payment in the rescue offer from billionaire Mukesh Ambani, according to people with knowledge of the matter. Indian lenders were asked to take a haircut of as much as 66%, the people added, asking not to be identified discussing confidential information. The unequal treatment led to the…
Writankar Mukherjee & Sagar Malviya, Economic Times Kolkata / Mumbai, March 28, 2022 The war for instant grocery delivery is going to intensify with Reliance Retail entering the segment with its JioMart platform. The company will start the trial in next 2-4 days in Navi Mumbai for 'JioMart Express' which will sell and deliver around 2,000 stock keeping units (SKUs) in a few hours, two senior industry executives aware of the plans said. Reliance has plans to take instant grocery sales to over 200 cities and towns where JioMart is currently operational by end of next quarter and double the…
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
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
