Kishore Biyani-led Pantaloon Retail India (PRIL) will invest close to Rs 250 crore within the next year-and-half for setting up 10 Central malls in the country.
A leading Brazilian poultry company has also expressed keen interest in joining hands with Kishore Biyani's Future Group to sell their products in the country
The varied roles he has played have included those as a trader, a failed film-maker, a dance festival organiser
Reliance Retail will acquire the retail, wholesale, logistics and warehousing businesses of the Future Group. Future Group's financial and insurance businesses are not part of the deal.
The group had launched a 5-day promotional blitz called Mahabachat across its retail chains from August 12 till August 17. The promotion and special offers were offered across the Group's retail formats -- Big Bazaar, Pantaloons, Food Bazaar, Central, EZone, Home Town, Brand Factory, Furniture Bazaar, KBs Fairprice, Mobile Bazaar and Aadhar.
Enthused by its success in retail, the Kishore Biyani-led $2 billion Future Group will soon foray into the logistics business, investing more than Rs 400 crore (Rs 4 billion) by 2010.
Online biggies and global retail giants are working on being omnipresent in both the virtual and the real world to see what helps them get the numbers, says Karan Choudhury.
According to estimates, entry into India would enable Starbucks to triple its stores to 40,000 worldwide by expanding into emerging markets.
The probe is being conducted under various sections of the Foreign Exchange Management Act (FEMA) after the central probe agency recently received a communication from the commerce ministry seeking "necessary action" against e-commerce players like Amazon and Flipkart pertaining to certain multi-brand retail businesses and an observation made by the Delhi High Court in relation to Amazon.
Amazon has moved the Supreme Court challenging the Delhi high court's division bench order that had vacated a stay on Kishore Biyani-led Future Group proceeding with its Rs 24,713 crore asset sale to Reliance Industries. Amazon, in the petition, sought a stay on the March 22 order of the division bench, terming it "illegal", "random", "inequitable and unfair". On March 22, a division bench of the Delhi high court had granted Future a reprieve from a March 18 single-judge order that restrained it from taking any steps to sell assets to Reliance.
The Supreme Court Tuesday set aside three Delhi high court orders including the refusal to grant a stay on the final arbitral award which had restrained Future Retail Ltd from going ahead with its Rs 24,731 crore merger deal with Reliance Retail and ordered fresh adjudication. In a major relief to Future group, a bench headed by Chief Justice N V Ramana also set aside the high court's order of February 2 last year, by which it had directed Future Retail Ltd (FRL) to maintain status quo in relation to the merger deal. The March 18 order of the high court, upholding the EA's award and imposing a cost of Rs 20 lakh on it as well as its directors, has also been set aside.
The Delhi high court on Friday declined Future Group's plea for stay on an arbitration tribunal order refusing to interfere with the Emergency Award (EA) which restrained it from going ahead with the Rs 24,731 crore merger deal with Reliance Retail. Justice Suresh Kumar Kait sought response from US-based e-commerce giant Amazon which had challenged the merger before the Singapore arbitration tribunal under SIAC, and listed the appeals by Future Coupons Pvt Ltd (FCPL) and Future Retail Ltd (FRL) for further hearing on January 4. Senior counsel Harish Salve, appearing for FRL, urged the court to pass an interim order clarifying that an earlier order passed by the Supreme Court - which stayed all proceedings in relation to the enforcement of the EA - would remain in force despite the subsequent order passed by the duly constituted arbitration tribunal.
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?
Embattled retailer Future Retail Ltd (FRL) on Tuesday moved the Supreme Court to avert insolvency proceedings over missing a loan repayment deadline, even as its independent directors rejected an Amazon-supported offer to sell the company businesses at less than a third of what Mukesh Ambani's Reliance is offering. India's second-largest retailer, which operates multi-brand retail chains such as Big Bazaar, Easyday and Heritage, failed to pay Rs 3,494.56 crore to lenders by the due date of December-end and sought a 30-day grace period to resolve the situation. Unable to find money, it moved the apex court seeking to restrain its lenders from declaring the company a defaulter, which can invite initiation of insolvency proceedings.
While the talks are still at a preliminary stage, sources said major retail players had held discussions with Amazon
20 start-ups that beat decades old companies in valuations.
Amazon has also signed a term sheet with Kishore Biyani-led Future group to invest $600 million to $700 million for a 12 to 15 per cent stake in the retail giant, it is learnt.
Founded in 2006, PremjiInvest's assets under management are worth over $2 billion across India
Coming close to Future Retail, after 42 per cent revenue growth.
The big question, however, is if it can sustain its business model as it grows and expands.
The big question, however, is if it can sustain its business model as it grows and expands.
The growth was led by family-owned companies and business groups with presence in pharmaceuticals, information technology services, and consumer products.
In a break from the recent trend, retailers, led by Kishore Biyani's Pantaloon Retail (India) Ltd, Raheja-owned Shoppers Stop Ltd and the Lalbhai Group's Arvind Ltd, are experiencing strong growth in the fashion segment, thanks to positive consumer sentiments during the current festive season.
Future Consumer Enterprise Ltd, the food and FMCG arm of Kishore Biyani-led Future Group, on Friday acquired south India-based convenience store chain Nilgiris for nearly Rs 300 crore (Rs 3 billion).
Industry estimates R-Day sales are eight times the usual for big retailers.
While the investment amount could not be immediately ascertained, a report pegged it at about $2 billion.
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.
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.
Retailers are also demanding that home delivery across all forms of retail should be allowed to ensure a level playing field.
When Biocon chairperson Kiran Majumdar-Shaw - well known for raising issues ranging from lack of civic services in Bengaluru to climate change - decided to take on the Indian stock market regulator, the Securities and Exchange Board of India (Sebi), she forced the Indian corporate world and legal community to take notice. In an interview to Business Standard, Majumdar-Shaw called a Sebi order to impose a fine on insider trading charges against a Biocon employee and an external consultant an "Agatha Christie" fiction, which destroyed the reputation of "innocent people". "The order is pure harassment and has caused huge reputational damage to us and goes against the principles of good governance promised by this government," Mazumdar-Shaw said. "We will certainly appeal this," she added.
Kishore Biyani's Future Group will hive off its electronics business into a separate company, as continued promotions and increased competition are taking a toll on its margins.
The co-founder of Snapdeal was talking a day after he signed an agreement with Tata-run Croma
When Kishore Biyani- led Future Group opened the 200,000 square feet Home Town store in Mumbai's Vikhroli early last year, it became a symbol of the group's giant-sized ambitions in home solutions.
The Kishore Biyani-led group is scaling up operations with Foodhall, its latest venture in the food retail space, which would offer a different format to cater to the growing aspirations of consumers.
