Festive sales are expected to surge 27 per cent to cross Rs 120,000 crore in 2025, driving Amazon and Flipkart to expand warehousing capacity by millions of cubic feet and extend delivery networks to thousands of new pin codes -- an infrastructure buildout that could reshape India's retail landscape for years.
While Reliance Retail did not comment, sources said the company will have to follow order, at least in Delhi.
Reliance Industries Ltd will acquire German firm Metro AG's wholesale operations in India for Rs 2,850 crore as the conglomerate run by billionaire Mukesh Ambani seeks to strengthen its dominant position in India's mammoth retail sector. "Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd, signed definitive agreements to acquire a 100 per cent equity stake in Metro Cash & Carry India for a total cash consideration of Rs 2,850 crore, subject to closing adjustments," said a joint statement. Through this acquisition, Reliance Retail will get access to a network of Metro India stores located in prime locations across key cities, along with a large base of registered kiranas and other institutional customers, and a strong supplier network.
Tech titan Google on Wednesday launched the Google Wallet app for Android users in India, allowing them to securely store essentials like boarding passes, loyalty cards, event tickets, and public transport passes. The digital wallet, which becomes operational in India from Wednesday, comes as a complementary service to existing payment app Google Pay, a top official said.
The stores will sell products under the Fashion at Big Bazaar brand.
According to the officials, the three-storey coaching institute, surrounded by residential and commercial establishments, had permission to use the basement as a store room, but it was being used as library in violation of the rules.
T E Narasimhan/Business Standard reports from Chennai on how the Future group plans to shore up its small store network in the South.
After 11 years at the helm of Jubilant, Ajay Kaul, the 'nuts and bolts' executive, called it a day amid speculation that his expansionist strategy was not clicking, says Viveat Susan Pinto.
Turbocharged with technology is becoming the Holy Grail of retail.
Online play is a priority now -- so far unthinkable in a business that's all about a meaningful interface with kirana stores.
Nearly 250 private liquor vends, licensed under now-withdrawn Excise Policy 2021-22, are running currently in the city.
SoftBank-based e-commerce marketplace Snapdeal has deferred its Rs 1,250 crore IPO, joining the list of startups that have decided to shelve their initial public offering (IPO) plans this year. Snapdeal, which competes with Amazon and Flipkart, filed a request this week with the Securities and Exchange Board of India (Sebi) to withdraw its draft red herring prospectus (DRHP) amid a sell-off in tech stocks worldwide. "Considering the prevailing market conditions, the company has decided to withdraw the DRHP. The company may reconsider an IPO in the future, depending on its need for growth capital and market conditions," a Snapdeal spokesperson said.
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?
The expansion into smaller towns is coming at a time when the online retail space has not only seen consolidation but is actually looking to collaborate with physical stores. Abhineet Kumar reports.
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.
Given the current global cues, if the next six months do not turn out to be the way we would want it to, we are definitely looking at a very gloomy start to 2016.
The store segmentation approach that Shoppers Stop is taking is intended to improve its hit rate at a time when local and international fashion retailers are crowding the market with new merchandise across price points.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
'Goa is about community living, but blending in takes time.'
ITC has extensively reset its strategy and will explore opportunities to craft disruptive business models to set up structural drivers helmed by digital and sustainability for its next horizon of growth and make the company future-ready, chairman Sanjiv Puri said on Wednesday. The company is pursuing an accelerated journey to build a dynamic utureTech' enterprise by investing in cutting-edge digital technologies to shape a new paradigm of competitiveness, create innovative business models and tap newer opportunities, he said while addressing shareholders at ITC's virtual annual general meeting. As part of the next horizon vision, the company is "proactively exploring inorganic opportunities" even as it has shrunk "business segments that were incongruent to our growth aspirations, such as the Lifestyle Retailing Business" while the existing growth platforms comprising megabrands will be scaled up and fortified.
Global retail behemoths seem to have read the signals right.
Men and women from mofussil India are buying designerwear either on their laptops or their cellphones.
Patience has kept IKEA, the euro 27-billion Swedish retailer, going despite entry hurdles. So says Juvencio Maeztu, its chief executive officer for India.
National brands prefer the acquisition route since the southern market is culturally different, reports T E Narasimhan from Chennai.
Recently, there has been a mushrooming of international apparel retailers.
India's rank was further amplified by the collapse of the South American and Russian economies.
How do you decide if you should take up a new job in these difficult times? HR guru Mayank Rautela has some tips that could help you decide.
'Sometimes we remember our plans and preoccupations from early March.' 'They seem laughably unreal now,' says Shuma Raha.
RustOrange co-founders Samik Sarkar, Shashank Agnihotri and Kuvalaya Singh share their story and learnings.
Yulu founder Amit Gupta believes bicycle sharing is the next big thing.
'If we keep losing such institutions, we will soon become a city and culture of short-term memory.' 'Nothing to remind us of the years gone by and eventually with nothing to remember.'
About 9 million people in Mumbai live in areas where homes are hardly two metres apart. Vaihayasi Pande Daniel/Rediff.com reports on the lurking dangers in the city's slums in the times of the coronavirus.
A platform that helps retailers reduce failed transactions while keeping the cost down, Innoviti is all set for India's digital payments revolution.
With Katrina Kaif as brand ambassador, will Lenskart be able to steer customers away from local opticians and keep them loyal?
The real estate sector is set to enter a progressive phase in 2015.
'At Snapdeal, our aim is to become the best-in-class technology company.'
'If standing in a bank or ATM line is a test of patriotism, why is not a single leader standing in that queue too?'
'I found my motivation in the fast emerging mobile market.' 'Nokia's biggest mistake lay in its stubbornness to change.' 'It's important to understand the pulse of the people It has been a long journey for Md Gyasuddin, Hitech Mobiles MD.
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