No financial details were disclosed.
At a time when the overall narrative is around India being an attractive investment destination, the two American multinationals are more specific in projecting India as their centrepiece.
The sale of Nature's Basket, Godrej's chain of food stores in west India, is the second exit by a big group in a year in the category
He's betting big on small stores to help him reach 10 million households by FY21, report Abhineet Kumar and Raghavendra Kamath.
In its election manifesto -- 'Sankalp Patra' -- the Bharatiya Janata Party has vowed to implement the Union Civil Code (UCC), maintain peace in the Northeast, among other key poll promises.
Mukesh Ambani's Reliance group has struck acquisition deals worth $4.2 billion with a dozen companies in just two years to expand its retail business. The latest purchase was of a majority stake in Justdial for Rs 3,497 crore. Elaborating on his acquisition strategy a few weeks ago during the AGM, Ambani stated that one of the key planks would be to acquire businesses that enhanced Reliance's offerings and experiences to customers and that they would be both physical and digital.
Perhaps, the group's leadership position and potential in the retail segment prompted Tata Sons Chairman Cyrus Mistry to identify retail as one of the group's four growth clusters in his recent Vision 2025 statement.
'For experienced and risk-taking investors, now may be the time to go all in.' 'By 'experienced and risk-taking', I refer to those who remained net buyers in equities during the early stages of the 2020 pandemic.' 'On the other hand, those who exited the markets during the pandemic may go the SIP way.'
According to three people in the know, it is exploring various options, including alliances and joint ventures, and may even exit the business altogether.
Helping UK outlets get wearable devices, robotics; apps to identify empty kitchen jars and auto-order likely soon
Anamika Pareek answers five most frequently asked questions about investing in silver ETFs
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
'Sweden removed the inheritance tax because many of the rich were fleeing. For example, the owner of IKEA had migrated out of Sweden'
Portal to be launched in three months, says Future Group's Kishore Biyani
Commodity investments can help you diversify your portfolio in asset classes other than equity and debt, says Dwaipayan Bose.
As organised retailers try to squeeze margins, Kishore Biyani-promoted Future Group has replaced PepsiCo's Frito Lay snacks with ITC's Bingo at its Big Bazaar and Food Bazaar stores.
The bigger threat for DMart is that the Reliance-Future combine now has grocery revenues that are nearly 2.5 times of it, putting pressure on the former to improve stickiness of its consumers.
Big chains such as Star Bazaar, Future Group and D Mart have set up separate shelves to sell products of Patanjali.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
Kishore Biyani met Jeff Bezos, the founder and CEO of Amazon, in Delhi last week and "discussed many things like the macro environment and the prime minister"
Customers want formats which have wide assortment, international products, and so on. Basically, it is an assortment play.
Future Group and V-Mart have put in place systems to prevent panic buying at their neighbourhood grocery stores.
UK fashion retailer Superdry on Wednesday said it will sell its intellectual property assets in South Asia to Reliance Retail for 40 million pounds (Rs 402 crore) through a joint venture. Superdry, whose fashion line mostly includes sweatshirts, hoodies and jackets, will own 24 per cent of the joint venture while Reliance Retail, India's largest retailer, will have the remaining 76 per cent. Under the agreement, Superdry's brand IP assets in South Asia will be permanently transferred to the new JV entity.
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 company is not holding plans for clarity on policy.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
Future Group said customer acquisition costs, fulfilment costs and other expenses in e-commerce add up to 50 per cent of overall business costs, making it unviable
French giant might apply for multi-brand retailing if UK rival gets nod.
Ravi Shankar mulls taking his products, available at 600 outlets, to 2,500 stores by 2017; others have plans, too.
Reliance Jio and Facebook will look to use WhatsApp for delivering goods from local neighbourhood kirana stores to consumers before expanding collaboration in education and healthcare sector, billionaire Mukesh Ambani said soon after announcing the mega Rs 43,574 -crore deal. "All of us at Reliance and Jio are delighted to welcome Facebook Inc," he said in a short video message posted on the group's social media handles.
The most convincing signs of revival are visible in historically retail-oriented cities such as Mumbai, Bangalore, Delhi, Kolkata and Pune, with the action beginning to perk up in other cities as well.
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.
Venturing into the outdoor media business, Kishore Biyani's Future group, with retail brands such as Pantaloon, Big Bazaar
The collection of mostly small and medium sized businesses is a hotchpotch of ventures and include design schools, schools, villas for hire in Goa and a country club in Gurgaon.
He wants to transform his retail-led enterprise into a consumer goods giant, and reach Rs 1 lakh crore in turnover by 2021, but is that feasible?
Sky-high rentals are forcing retailers to explore new ways to stay afloat. Many have done the obvious thing by shifting to cheaper locations or simply downing their shutters. But others are renegotiating deals with developers to ensure business sustainability. New deals like longer "rent-free" periods, no "lock-in" clauses in agreements and revenue-sharing deals with developers are becoming common.
After ending its wholesale partnership with Walmart, Bharti Retail has decided to merge with the Future group
Ramping up e-commerce operations and going beyond its current strongholds are key challenges for the grocery chain in its battle with Mukesh Ambani's retail behemoth.
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.
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