Indian jewellery firms are increasingly showing interest in the international market and are planning to venture into luxury lifestyle products.
The slowdown in the world's largest jewellery market could provide an opportunity for acquisitions. Following the acquisitions of two jewellery chains in the US, Samuel Jewels in December 2006 and Rogers in November 2007, Gitanjali Gems is eyeing a few more buyouts in the world's largest jewellery market.
Consumer finance schemes and credit card purchases are gradually enjoying a greater share in the sale of consumer durables.
Apparel makers are hopefully eyeing the Indian womenswear and lingerie market in the New Year.
The Rajasthan State Industrial Development & Investment Corporation (RIICO) is going all out to woo textile firms to set up shop at its proposed garment zone in Bhilwara.
Reliance Brands, a subsidiary of Reliance Retail, will focus on brand partnerships and creating brand portfolios to make its presence felt in the Indian branded apparel sector.
Raymond, the Singhania family-controlled textile and apparel manufacturer, had slapped a notice against the city-based footwear retailer for showing a man wearing suit with a tagline The Incomplete Man. In a letter written to ASCI, Raymond had pointed out that the company has been using the tagline for several decades and it is inseparable from its brand.
Metro's print advertisement campaign shows a man in a suit without wearing shoes, and the tagline says 'The Incomplete Man'. The print campaign was released in a leading media publication.
Currently, Reliance outsources a bulk of the apparel needs of its three Vimal sub-brands, Black, White and Red. But, it is keen on establishing a manufacturing base for specialised garments such as suits and jackets. The new facility is likely to come up in south India in the next 6-9 months, said Reliance executives. However, the capacity details of the facility will be divulged later.
Gitanjali Gems is close to acquiring a US-based jewellery retail chain with sales of about $100 million. The deal, if it goes through, would be the company's second acquisition in the world's largest jewellery market. Though the deal size and name of the company could not be ascertained, sources said that the acquisition is expected to be completed in 30 days.
The company has reportedly entered into a sourcing agreement with Rosy Blue, one of the largest jewellery manufacturers, for operations. The jewellery foray is part of the company's lifestyle retail, which includes books and music, cosmetics, lifestyle accessories and home solutions.
The company's first apparel store will be launched in Gurgaon in October with 22 in-house retail brands and a team of 76 designers tapping the men, women and kidswear segment.
With Ganesh Chaturthi, Maharashtra's biggest festival, set to begin in mid-September, many companies are providing value-added services to cash in on the occasion and for brand promotion.
Consumer durables firm Videocon Industries is looking at renewing talks to acquire the ailing Korean electronics giant Daewoo Electronics.
BPCL to introduce single-screen theatres at Ghar outlets.
Even as India is mulling legislation to make energy-efficient air conditioners and refrigerators, consumer durable manufacturers are already thinking beyond that.
Nooyi had recently said that the company might make two or more acquisitions outside North America this year to add snacks or drinks it did not already make.
The demand for diamonds will invariably affect the domestic industry as India has expertise in diamond cutting and polishing, says Shankar Pandya, chairman, Diamond India.
Zurich-based Barry Callebaut, a $3.3 billion world leader in manufacturing cocoa, chocolate and confectionery products, is set to enter the Indian market in September this year.
Ceramic tile manufacturer H&R Johnson is in talks with the UK-based Johnson Ceramics International for a strategic global alliance
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