In a country where wearing lipstick could still invite disapproval, Simone Tata understood that Lakmé's future depended on shifting attitudes.
In the shadows of a sliding rupee, India's knitwear hub Tiruppur is weaving a success story. While the domestic currency edges closer to the 86 mark against the US dollar, triggering concerns for many sectors, this textile town in Tamil Nadu is finding opportunity in adversity: Between April and December alone, Tiruppur's exports reached Rs 26,000 crore, almost eclipsing last financial year's total of Rs 30,690 crore.
The UK-based retailer can add to the best practices it already brings to Tata's retail business.
Due to clauses on local sourcing and infrastructure investments, the world's third largest retailer has not been able to make much headway in India.
The six-year-old Tesco Hindustan Service Centre, the Bangalore-based support centre of Tesco Plc, the world's third largest retailer, is gearing up for the retail giant's cash-and-carry outlet opening by year-end.
After experiencing an 11 per cent contraction in exports in 2023-24 (FY24) due to a dip in exports for 10 consecutive months from April to January, the Tiruppur textile industry is back on track in 2024-25 (FY25). The cluster, which contributes 55 per cent of the country's total knitwear exports, posted a 13 per cent increase in the first five months of this financial year (FY25), with August seeing a 22 per cent rise - the highest in over two years.
The company said Philip Clarke will continue as CEO until October 1 and will remain available to support the transition until the end of January 2015.
Tesco proposal entailing investment of $110 million has been cleared, sources said after the FIPB meeting held in New Delhi.
The first such proposal in the sector has come from the joint venture between Tata-Trent and Tesco Plc, which will open outlets simultaneously in these two states.
Leading retail chain Tesco is planning to get into the banking business by offering current accounts and mortgages to consumers, a media report said on Wednesday.
UK-based retail major Tesco Plc on Tuesday filed the first application for setting up multi-brand retail outlets in India.
Helping UK outlets get wearable devices, robotics; apps to identify empty kitchen jars and auto-order likely soon
Tesco was the first global retailer to apply for multi- brand retailing in India.
UK-based retailer Tesco plans to increase sourcing from India by about 66 per cent this year.
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Retail giant Tesco's entry into Indian market has hit a regulatory roadblock.
French giant might apply for multi-brand retailing if UK rival gets nod.
The Advertising Standards Authority yesterday ruled that the company has shown an 'unfair' comparison in the advertisements to claim that a selection of goods sold at its stores are cheaper than those of rival retailers Asda and Wm Morrison. ASA said that 'ads must not appear again in their current form,' as it found that 'both ads were likely to mislead.'
Dayanand Allapur, head of human resources, Tesco HSC, said: "We will add another 2,000 employees in both IT (information technology) and non-IT processes."
Tesco already has presence in India through a joint venture with Tatas. These stores are located in Mumbai, Bengaluru, Ahmedabad and Chennai. Greg said, 'we see a huge opportunity for future growth in India'.
Retail giant Tesco will make foray into Indian retail market as it has signed an agreement with Tata Group-led Trent.
Tesco, which has sought the government's permission to buy 50 per cent stake in Tatas-owned Trent Hypermarket Ltd, will have to invest atleast $55 million in creation of fresh back-end infrastructure.
Tesco and Tatas have reached "a crucial stage in the negotiations, which have advanced considerably over the recent past
Tesco has admitted that its plan to be the first multinational supermarket retailer in India has unravelled.
Executives in the segment say some top European, Japanese and Korean retailers are seriously interested.
Commerce and Industry Minister Anand Sharma has asked global retail chains not to rush the government into allowing foreign direct investment (FDI) in multi-brand retail.
The company is not holding plans for clarity on policy.
Bentonville-based Walmart has also raised apprehensions about the ongoing probe by investigating agency Enforcement Directorate, said an internal note of the Department of Industrial Policy and Promotion.
The company has entered into an exclusive franchise agreement with Tata group's retail venture Trent, which will help in driving the latter's hypermarket format Star Bazaar. Tesco plans to develop new wholesale outlets, which will offer a range of food, grocery and non-food products to small retailers, restaurants, kirana stores and other businesses.
To differentiate itself from Wal-Mart, Tesco, through its Fresh & Easy chain, has gone in for convenient neighbourhood stores which stock fresh foods, which is not a thrust area for Wal-Mart. But cost is one area where the two cannot avoid clashing, and this is where Tesco Hindustan Service Centre steps in.
The BJP counts the owners of several million mom-and-pop stores as among its most loyal supporters.
The city government will bring an amendment to the APMC Act for facilitating direct purchase of produce from farmers.
Actis was earlier negotiating with other private equity players, but changed its strategy after the government opened retail sector to foreign companies.
The best way to really take in the English countryside is to go narrowboating.
The UK's largest retailer, with revenues of 67 billion pounds, is currently focusing on its existing franchise agreement with the Tata-run Trent.
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