{"id":2195,"date":"2013-10-09T10:49:00","date_gmt":"2013-10-09T10:49:00","guid":{"rendered":"https:\/\/www.thirdeyesight.in\/?p=2195"},"modified":"2022-11-07T09:59:22","modified_gmt":"2022-11-07T09:59:22","slug":"a-slew-of-break-ups-in-the-retail-space","status":"publish","type":"post","link":"https:\/\/myechoproject.com\/TES\/a-slew-of-break-ups-in-the-retail-space\/","title":{"rendered":"A Slew of Break-Ups in the Retail Space"},"content":{"rendered":"\n<p> <i>Rashmi Pratap &amp; Purvita Chatterjee, The Hindu Businessline<br>\n              Mumbai, October 9, 2013<\/i><\/p>\n              <p><img decoding=\"async\" data-src=\"https:\/\/www.thirdeyesight.in\/wp-content\/uploads\/2022\/09\/money-fight.jpg\" width=\"300\" height=\"214\" align=\"left\" vspace=\"10\" hspace=\"10\" alt=\"starbucks mumbai\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" style=\"--smush-placeholder-width: 300px; --smush-placeholder-aspect-ratio: 300\/214;\">It \n                is the season of break-ups in the Indian retail space. In the \n                last two months, three joint venture partners have decided to \n                part ways in the market pegged at $520 billion.<br><br>\n                The reasons range from regulatory issues to alleged misconduct \n                by one partner. But the real cause often is the distribution of \n                profits and control over business, which can lead to the end of \n                a partnership.<br><br>\n               While there have been many instances of partners calling off \n                joint ventures in the past decade, the most recent ones are Bharti \n                Walmart, Di Bella Coffee and McDonald\u2019s.<\/p>\n              <p><b>\u201cJoint ventures are breaking up due to differences in \n                the direction the business should take in terms of investments \n                and scale,\u201d said Devangshu Dutta, MD of retail consultancy \n                firm Third Eyesight.<\/b><\/p>\n              <p>Why this happens is not difficult to fathom. Foreign firms need \n                an Indian joint venture partner to study the market, put the back-end \n                infrastructure in place, evolve store location strategy and get \n                the multiple regulatory approvals.<\/p>\n              <p>Once all this is done and business is stabilised, future growth \n                direction and profit division becomes a bone of contention.<\/p>\n              <p><b>DISTRIBUTION OF SPOILS<\/b><\/p>\n              <p>\u201cIf there is a business going on successfully, both parties \n                want a larger share for themselves. \u201cAnd who has contributed \n                more to the business becomes a point of argument. Moreover, foreign \n                firms want more control at some point in time,\u201d says an analyst \n                on condition of anonymity.<\/p>\n              <p>In the case of McDonald\u2019s, the company has alleged that \n                Indian partner Vikram Bakshi was not devoting enough attention \n                to business, besides levelling other charges.<\/p>\n              <p>The case is now before the Company Law Board. \u201cJoint ventures \n                don\u2019t work for a long time in India. In most cases, it is \n                a marriage of convenience and at some point, differences of opinions \n                are bound to arise,\u201d said Arvind Singhal, Chairman of Technopak \n                Advisors.<\/p>\n              <p><b>\u201cIn the case of Bharti Walmart, since 100 per cent FDI \n                is already allowed in cash and carry, it would straightaway give \n                Walmart control after buying out Bharti in the joint venture,\u201d \n                said Dutta.<\/b><\/p>\n              <p>Singhal said what also caused Bharti and Walmart to part ways \n                was the regulatory fatigue the two partners were facing. \u201cThey \n                (Bharti and Walmart) seem to have run out of patience. Doing retail \n                business in fresh produce is increasingly becoming complex,\u201d \n                he said.<\/p>\n              <p>Despite promises, the Government has not scrapped the APMC Act, \n                which allows only the State governments to set up markets for \n                fresh farm produce.<\/p>\n              <p>Singhal said Indians usually turn a blind eye to harassment but \n                in other countries, laws are far more stringent and the liability \n                of the foreign partner could be much higher.<\/p>\n              <p>It is to protect themselves in their own country that they prefer \n                to break-up the moment an allegation surfaces.<\/p>\n              <p>Whatever the reasons, foreign partners don\u2019t usually leave \n                India. They either go solo or find another partner to ensure that \n                they don\u2019t miss the action in one of the world\u2019s largest \n                consumer markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rashmi Pratap &amp; Purvita Chatterjee, The Hindu Businessline Mumbai, October 9, 2013 It is the season of break-ups in the Indian retail space. In the last two months, three joint venture partners have decided to part ways in the market pegged at $520 billion. The reasons range from regulatory issues to alleged misconduct by one [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-2195","post","type-post","status-publish","format-standard","hentry","category-press-quotes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A Slew of Break-Ups in the Retail Space - Third Eyesight<\/title>\n<meta name=\"robots\" content=\"index,follow\" \/>\n<link rel=\"canonical\" href=\"https:\/\/myechoproject.com\/TES\/a-slew-of-break-ups-in-the-retail-space\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Slew of Break-Ups in the Retail Space - Third Eyesight\" \/>\n<meta property=\"og:description\" content=\"Rashmi Pratap &amp; Purvita Chatterjee, The Hindu Businessline Mumbai, October 9, 2013 It is the season of break-ups in the Indian retail space. 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