Raheja-owned Hypercity plans its growth on the back of quality merchandise rather than cheaper price points.
Patience, however, ran out for over a dozen global brands, including GAS, Replay, Etam and Argos. All of them have ended their joint ventures or franchisee arrangements with Indian retailers in the last one year due to reasons ranging from poor sales and high rentals to mounting losses and failure to open stores on time.
Marks & Spencer Reliance is the joint venture between the Mukesh Ambani-promoted Reliance Retail and the British department store chain, Marks & Spencer group. The first store would have around 40 employees and would offer men's, women's and children's garments besides various household items.
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Consultants say those selling imported consumer durables, apparel, food products, furniture, etc, are the ones hit the hardest.
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