Sagar Malviya, The Economic Times Mumbai, 13 July 2016 Spanish fashion brand Zara posted its slowest sales growth in India during the year ended March, indicating that its novelty factor may be waning as consumers shift to global rivals such as H&M and Gap, which entered the country last year. Inditex Trent, the joint venture between Zara brand owner Inditex and Tata Group's retail arm Trent, clocked a 17% sales growth to Rs 842.5 crore during FY16, Trent said in its annual report on Tuesday. A year ago, its revenue increased 24% to Rs 721 crore. Zara's sales growth has…
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Anshul Dhamija, Forbes India Bengaluru, 12 July 2016 Dinesh KS loves the wilderness. And, as an avid mountaineer (he is a certified instructor in climbing and mountaineering), he always found it easy to be close to it. But, in 1990, he suffered an ankle injury which hindered his treks. Dinesh was forced to find another way to stay in touch with his passion. By 1993, he had figured out how: The then 32-year-old Bengaluru resident started to design tents and backpacks, which were manufactured in the city’s industrial hub of Peenya. “I would shop for buckles, zippers and other accessories,…
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Rashmi Pratap, The Hindu Businessline Mumbai, 11 July 2016 Bharti Retail’s hypermarket stores Easyday have now become Big Bazaar outlets as the Future Group has completed their integration following the merger agreement in May last year.Future Group’s convenience stores — KB’s Fair Price and KB’s Conveniently Yours — are being turned into Easyday supermarket or neighbourhood stores in an attempt to streamline formats and improve customer connect.“We have done this over the course of the last one year. We have an iconic brand that customers are familiar with and the integration has added strength to it,” Big Bazaar CEO Sadashiv…
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Sobia Khan & Richa Maheshwari, The Economic Times Bengaluru, 6 July 2016 Lifestyle International, the Bengaluru-based retailer, has set a target of becoming a billion-dollar (nearly Rs 6,750 crore) turnover company by March 2017 by adding more stores, a top official said."This will be the most aggressive expansion for the company post 2010. Our expansion plan is firm, we have been on track. But sometimes malls get delayed," said Kabir Lumba MD Lifestyle International. The company clocked a turnover of Rs 5,700 crore during the last financial year. Lifestyle International operates stores under Lifestyle, Max and Home Center formats across…
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Ankita Rai, Financial Express New Delhi, 5 July 2016 Think ‘mobile wallet’ and you will probably think of recharges, DTH/bill payments or at the fringes of your mind, even e-commerce sites. But paying for a can of yoghurt at a milk-booth near your home with, say, a Paytm? Not an idea to be scoffed at — this is a reality today. In order to drive the next phase of revenues, the offline ecosystem poses a world of opportunities as far as m-wallets are concerned. Ranging from the Big Bazaars of the world to the neighbourhood mom-and-pop stores, petrol pumps, auto…
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