Retail chains may be struggling in the face of the economic slowdown, but Kishore Biyani's Future Group seems to be buoyant in the New Year, expecting to do well in the quarter ending March 2009.
The equity infusion will happen at Rs 505 a unit, which is a premium of nearly 14 per cent over February 4's close of Rs 444.60.
He's betting big on small stores to help him reach 10 million households by FY21, report Abhineet Kumar and Raghavendra Kamath.
The JV will be set up in about 8-10 cities, including Hyderabad, Ahmedabad, Kolkata, Bangalore, Indore, Jaipur, Pune, Delhi and Mumbai. The investment is expected to provide significant synergies to the Future Group, which has a large advertisement budget and aligns well with the group's businesses such as Future Media, which has interests in media and advertising.
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SBI will hold 30 per cent in RIL joint venture
Brand Factory clocked in Rs 1,045 crores worth of sales in FY17, accounting for 27 per cent of the total revenues earned by Future Lifestyle Fashions Retail. But what about the future?
INX Media, the company set up by Indrani Mukherjea, wife of ex-Star Group CEO Peter Mukherjea, has roped in three top advertisers -- Vodafone, Reliance Industries and Future Group -- for their Hindi entertainment channel 9X. Each of these advertisers are believed to be paying Rs 35-40 crore (Rs 350-400 million) for a three-year contract. The television broadcaster has formed Club INX, which will include corporates keen to advertise on the channel.
Consumer durables major Videocon and Kishore Biyani's Future group have entered into an agreement to source consumer durables.
A wise word from Mahendra Singh Dhoni inspired Mohammed Shami to bowl the delivery that earned his place in ICC Men's Cricket World Cup history.
While festive season spends by consumers did contribute to the uptick seen in Q3, experts said greater aggression displayed by retailers to corner a larger share of the shopper's wallet also worked.
While global competitors Amazon and Walmart are looking to explore B2B online in India, traditional Indian retailers like the Future group and Reliance Retail and e-commerce players such as Snapdeal and Flipkart have no immediate plans in this area.
Deccan Chronicle had taken a Rs 170-crore loan from Future Capital and Rs 100-crore loan from Tata Capital.
In the decade since Biyani revolutionised retailing in India, he has attempted a number of things, eventually exiting a few of them.
CSD was created to provide easy access to quality products of daily use, at prices less than market rates to the soldiers, ex-servicemen and their families
In Nov last year, L&T Finance Holdings had told BSE it was not eligible to be the sponsor of an insurance business, as it was a subsidiary of L&T under the Irda norms
To operate large wholesale markets and imports.
French giant might apply for multi-brand retailing if UK rival gets nod.
'Big Bazaar Profit Club' hopes to build loyalty amongst customers and get better prices from suppliers. Can it succeed?
To join 'Big Bazaar Profit Club', a customer has to pay Rs 10,000, after which he can shop for Rs 1,000 a month for 12 months.
Some analysts believe convenience stores could be challenged by digital grocery in the future.
The company's total debt is Rs 5,500 crore (Rs 55 billion) as of December 31, 2012.
Many private equity funds and retailers, who have long-term vision, will come to India, says Biyani.
Industry estimates R-Day sales are eight times the usual for big retailers.
While HackerEarth has clients and developers globally, the US consists more than a third of the revenue stream, and plans to ramp it up to 60 per cent of the total share.
Noel, Ratan Tata's half-brother and Mistry's brother-in-law, was a contender for the top position when Mistry was chosen as chairman in 2011.
Noel Tata likes to relax at his Alibaug beach home on weekends, but he is equally passionate about driving on the Mumbai-Pune Expressway at a speed of over 100 kilometres per hour.
From the retail pack, Future Group firm Pantaloon Retail surged 32.61 per cent to Rs 209, while Provogue India gained 17.83 per cent to Rs 18.90 on the BSE.
After ending its wholesale partnership with Walmart, Bharti Retail has decided to merge with the Future group
Executives in the segment say some top European, Japanese and Korean retailers are seriously interested.
Maggi banned in Delhi for 15 days.
For instance, Shoppers Stop has seen a mere two per cent like-to-like growth in the southern region in the first quarter of 2012-13 (and 10 per cent in the western region, mostly Mumbai and Pune) due to the cannibalisation effect, said managing director Govind Shrikhande.
The downsizing is a direct fall-out of the slowdown in the business and the promoter's plan to sell stake in the life insurance business.
'Many have read them. Many know the verses. May hear the interpretations. But few actually get it. If you get it, you will be at peace even in the midst of war. You will not be outraged,' says Devdutt Pattanaik about the Bhagavad Gita
And, Future Group chairman Kishore Biyani, who has copyright on the famous ad tagline, admits even steep discounts didn't help much in many regions this year.
According to the agreement, Pantaloon Retail India, along with its wholly owned subsidiary Future Value Retail, would sell its stake in FCH.
S Rajarathinam is the founder-owner of this retailing giant. We asked him about his opinion on the government's decision to allow 51 per cent foreign direct investment in India's multi-brand retail trade and 100 per cent FDI in single-brand retail trade.
Recent data from market analytics firm Nielsen shows that the rural market in the country's 630,000-odd villages is pulling down the overall FMCG business.
Biyani's comments come on the heels of the Committee of Secretaries' recommendations for opening up the multi-brand retail sector to foreign investment, with a cap of 51 per cent and a minimum investment of $100 million by overseas players.
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