—Contributed by Charu Gupta The much awaited ICRIER report that was commissioned at the behest of Congress Chief Sonia Gandhi has been finally out which has good news for all. According to the report, Indian Retail is close to $300 billion with a mix of organized and unorganized players and is set to grow at [...]

Oswal Retail, a subsidiary of Punjab-based Oswal Group, has decided to wind up its innerwear business and close down its 22 exclusive outlets ‘Straps’. “We have decided to close all our outlets and it is a strategic decision taken by the company,” Oswal Retail Managing Director Adish Oswal told PTI. Since the launch of its [...]

Vishal Retail Ltd is likely to add 600,000-700,000 square feet to its retail space before festival season of Diwali, its chairman and managing director said on Friday. “The demand for the products we sell is inelastic. We don’t see any fall in consumer demand. So our plans continue to be on track,” Ram Chandra Agarwal [...]

ASSOCHAM brought a comprehensive study on “Indian Retailing – the way forward” in June 2008. The Study was released by Shri Y S Bhave, Secretary, Ministry of Consumer Affairs, Government of India at a Press Conference held on May 22, 2008 in New Delhi. This study was submitted to the government and other institutions. One [...]

Spencer’s Retail Ltd, the retailing arm of $3 billion RPG Group, has reported a loss of Rs 149.92 crore before deducting taxes for the year ended 2007-08, clocking a turnover of Rs 812.81 crore in the same period. The company said the loss after considering deferred tax credit of Rs 62.01 crore was Rs 89.30 [...]

Jones Lang LaSalle Meghraj (JLLM) research paper titled ‘High Streets of India : Embracing Change ‘, released yesterday, focuses on High streets across the country, and how they have stood up against the proliferation of malls and how they have adapted. The report emphasises that Indian high streets have certain attributes which make them unique, [...]

Sphinx Adonis Sphinx, a Pune-based event management firm, will launch 100 ‘events retail stores‘ in Maharashtra in the next one year and 1,000 stores countrywide in the near future to offer services in organising and managing birthday parties, anniversary get-togethers and weddings. Named ‘Eventwala’, these stores will be one-stop shops offering theme-based packages starting from [...]

Indian retail major, Subhiksha, hopes to extensively tap the booming retail segment and plans to open 1,000 more outlets by the year-end. “Organised retail is growing at a rate of 8-10 per cent per annum, which so far represents only about four per cent of the total retail market. We are planning to open about [...]

The retail sector is now betting on a fresh lease of life. Following the pullout of Left parties from the United Progressive Alliance (UPA) government, industry players are again pinning hopes on the opening up of the retail sector to foreign direct investment. Domestic retail companies feel that the Manmohan Singh government, if it survives, [...]

For 19-year-old Hemant Patel, getting a pair of branded jeans was a top priority when he entered his first year of junior college two years ago. But like most college students, Patel only had his meagre pocket money to fund his branded needs. It was then that Patel spotted The Loot at Marine Lines when [...]