Reliance Industries, the parent of Reliance Retail, said it has acquired a 12.5% stake in a fashion company called Future101 Design Pvt Ltd at a cost of Rs 9.5 cr. The Gurgaon-based company designs and manufactures garments such as ladies kurtis and men’s shirts. “Future101, incorporated in July, 2013 is engaged in manufacturing, distribution and […]
Kishore Biyani-promoted Future Retail has bought Foodworld, a supermarket chain that is popular in Bangalore, for Rs 40.79 cr in cash. The acquisition of the grocery-focused retail chain will strengthen Biyani’s existing portfolio of super markets, particularly the smaller stores under the EasyDay brand. Foodworld had revenue of Rs 119 cr for the year ended […]
L Catterton Asia, the Asian unit of the consumer‐focused private equity firm, will take a stake of around 10% in Future Lifestyle Fashions Ltd, the company that operates the Brand Factory and Central fashion stores in India. The valuation or the amount invested was not revealed. However, Future Lifestyle Fashions has an equity market value […]
Kishore Biyani, head of Future Group, outlined mega expansion plans for his retailing business for the next 12-15 months in the context of the entry of WalMart into India’s retailing sector. “Our plan is to add 1,000 small stores over the next 12-15 months,” Biyani told CNBC-TV18 in an interview. “Our plan is to open […]
Companies belonging to the Future Group, which runs India’s largest super market chain Big Bazaar, said they have not taken any decision on selling a minority stake to any global retailer. Their comments came in response to a clarification sought by the stock exchanges into a news report that quoted Future Group founder Kishore Biyani […]
Hero MotoCorp has launched online shop for consumers to buy genuine parts and accessories for their Hero scooters and motorbikes. The portal, www.hgpmart.com, will be run by the company directly. However, it will tap close to 100 distributors in a ‘hub and spoke’ model for fulfillment. Consumers can buy any part by following a step-by-step […]
Future Retail, the flagship company of the Future Group led by Kishore Biyani, reported an 81% jump in its net profit due to higher operating leverage afforded by increasing revenue and a sharp dip in interest costs. Net profit for October-December rose to Rs 183 cr from Rs 101 cr in the year-ago quarter and […]
Titan Co, India’s largest jewelry company, said its mainstay jewelry business saw retail sales that were in line with expectations for the October-December period, but there was a slight slowdown in sales to franchisees. It also said its pilot stores for special occasion ethnic wear are doing well and it may open a few more […]
Tata Global Beverages, the world’s second largest tea company, said it is evaluating the possibility of entering the cafe business and has launched its first pilot outlet at Indira Nagar in Bangalore. The outlet, called ‘Tata Cha’, will offer a wide variety of teas as well as snacks. “Tata Cha will specialise in serving freshly […]
Private players such as Reliance Industries and Essar — owned by Russia’s Rosneft — have tripled the number of petrol and diesel outlets in India in the last two years, and could double their market share by implementing their ongoing expansion plans, India Ratings said. From practically nothing in 2014, private players including Shell and […]
PC Jeweller, the Delhi-based jewellery chain, said it signed up Bollywood stars Akshay Kumar and Twinkle Khanna as it gets ready for a pan-India expansion. The brand, which started 12 years ago with a single shop in Karol Bagh in New Delhi, today has close to 80 outlets. Most, however, are in North India, and […]
Future Retail will pay most of the cost of its proposed Hypercity acquisition by issuing new shares, and only about a fourth will be paid in cash. The deal will put even more distance between Future, which operates chains such as Big Bazaar and Central, and other players in India’s organized retail market. Hypercity is […]
After introducing a separate showroom network for its higher-end cars by the name of NEXA, India’s largest carmaker Maruti Suzuki said it will not overhaul, transform and rebrand its remaining car showrooms in the country. The Company targets to set up over 80 showrooms under the ARENA brand by March 2018. Progressively, existing showrooms across […]
Airline SpiceJet said it has opened its first physical store under its new ‘SpiceStyle’ retail brand at Galleria Mall in Gurgaon, near Delhi. The launch of its first physical store marks SpiceStyle’s entry into the offline segment besides its ecommerce portal and a brand store launched in association with Amazon. It also announced freebies, including […]
SpiceJet, arguably the most aggressive low-cost carrier in India, has entered the e-commerce business with a new venture named ‘SpiceStyle!’ and also tied up with online giant Amazon. Products from the company will be available via the eponymous website, as well as on Amazon. The unit has been created as a subsidiary of SpiceJet. SpiceStyle! […]
Encouraged by a strong response, Honda Motorcycle & Scooter India said today it was advancing its roll-out target for its ‘Best Deal’ second-hand motorcycle chain in India. The company said it would add another 50 such pre-owned motorcycle shops in India in the remaining nine months of the current financial year. This will take the […]
V2 Retail, formerly known as Vishal Retail, said it expects organized retail in India to grow a strong pace in the next three years to increase its share of the overall market to 24% by 2020. At present, the share of organized retail — mostly super markets and hyper markets, but also e-commerce — is […]
Den Networks said it sold its home shopping channel to Pimex Broadcast Private Limited based in Noida. Den entered the business under a joint venture with Jasper Infotech, the holding company of e-commerce firm Snapdeal.com, two years ago. “The name of DEN and Snap deal will be dropped off from the branding,” said the cable […]
OnePlus 3, arguably the most successful premium phone of 2016 in India, may not get warranty support from the manufacturer if purchased from Flipkart, going by a statement by the company. The company issued a statement that seemed to suggest that Flipkart’s sale of the model is not authorized by the company. “We have an exclusive partnership […]
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