AHMEDABAD: The upcoming festive season will see retail players increasing their marketing spend by 20%. The retail sector missed a big opportunity
Top brand endorsersBrand endorsersTop Ten celebrity ad list around August 15. Depressed conditions due to weak monsoon and swine flu fears kept consumers away on the Independence Day, treated as a big discount day that usually gets shoppers in hordes to avail of up to 70% discounts. Traditionally, retailers spend 40% of their promotional budget on advertisements, 30% for freebies and promotional schemes, and the remaining 30% for discounts. National players such as Pantaloon, Reliance, More, and Spencer’s are already planning special festival offering and the sector is trying its best to attract buyers to malls and big retail stores. The attempt is to recover what was lost in a year-long slump and make a killing in the four-month festival period, starting mid-September with Navratris. “The slump seems to be at its fag end. Diwali being early this year, coinciding with the last phase of monsoon, will have greater impact on the retail market
. This will have retailers spending increased amount of money to attract customers. Around 20% additional advertisement spend is expected from the retailers,” retail consultant Vahid Ravji told ET. He said this would give retailers a chance to make amends for the August 15 sales fiasco, as market sentiments have been improving. “I can surely say customers are expected to benefit a lot,” Mr Ravji said. With stock market rising and shop rentals falling by 30-40%, the sentiment is high in Gujarat. Mr Ravji, who pioneered organised retail in Gujarat in 1989 with his own department store and later had a stint with Aditya Birla group’s More, said, “Promotions were put on hold last year due to bad stock market and economic conditions. Now, with things looking up, retailers’ confidence is likely to get a boost. Also, hurdles like unavailability of trained manpower have been removed due a consolidation phase in the market and personnel training institutes coming up.” Retailers believe economy is reviving and the sector will try to take advantage of it. Says Pantaloon Retail’s Gujarat head Anand Adukia: “Promotional spending for the festival season should be higher by around 20%. The sector has passed through a difficult period and it is the right time to change the consumers’ mood and get them back.” Chairman of IIM-A’s Centre for Retailing Prof Piyush Sinha too believes that things would only get better from here. “Retailers have received good response during Ganesh Chaturthi, and therefore, the sector is optimistic for the Durga Puja and Diwali season as well. Retailers will surely try to attract more customers.
Posted by: Neha Dhall
Monday, August 31, 2009
Retail revs up for the long haul in India
Posted by: Dr. Vishesh Rawat
FDI in retail must be allowed, insists Anshuman Magazine, CMD of CB Richard Ellis South Asia Pvt Ltd. "India's retail trade is around $ 180 billion, which is almost 10 per cent of the GDP, employing more then 21 million persons. Policies should be more transparent and smooth, in order to attract foreign investors," he justifies. "Like any other person who invests money, we need to understand that foreign investors will also expect returns. Perhaps the challenge lies in reassuring these investors," he wonders aloud. According to Dubai-based real estate consultant, Rajesh Bijlani, the news of retail chain IKEA putting its India entry plans on hold, indicates the prevalent scenario. "There is something in India's policies and implementation that is keeping such major brands from entering right now, despite the fact that the economic indices are attractive to MNC brands," he feels. "Many retail brands that have outlets in the UAE have shown interest in setting up operations in India, but little is actually working out in the near future, as compared to the potential. I guess we need to work out red-tapism and other issues that seem to be delaying the entry of these retail players at present," he adds. FDI is not allowed in multi-brand retail, only in single-branded stores, points out Bappaditya Basu, vicepresident (retail), Jones Lang LaSalle Meghraj. "Foreign, single brand stores can open with an Indian partner and hold a maximum of 51 per cent stake, according to FDI norms. In the past, this was not allowed, which meant that only the franchisee route was available and it did not suit many of these brands," he explains. Among the global retailers seeking to enter the Indian retail arena are Hamleys, Diesel, et al, reveals Basu. "Leading international brands like Burberry, Smallsmith, Kenzo, Bottega Veneta, Canali and Just Cavali were already present on a limited scale and have now changed partners, to open up more stores in India. There are also some international coffee chains eyeing India and scouting for partners," he adds. Ashok Kumar, principal and managing director, CresaPartners India mentions how the Emke Group, which operates the biggest hypermarket chain in the Middle East under the LuLu and Al Falah brands, is entering the Indian market by developing the biggest shopping mall in Kochi, in Kerala. "Crocs India Retail Ltd, the lifestyle footwear brand, will launch eight to 10 more EBOs in India. Similarly, Manchester United Food & Beverage Asia, with a mandate to set up casual dining outlets tapping into the popularity of the multi-billion dollar club, has done a recce of select Indian cities in recent months and followed it up by talking to potential investors. Leonidas, a Belgian chocolate producer and seller, has entered the Indian market by establishing its retail operations in India. It claims to be the only chocolate brand having its own exclusive store," he adds. Similarly, New Delhi-based Grand Slam, one of the market leaders in high end fitness equipment, is planning to set up 30 more franchisee stores in tier-II and tier-III cities, by January 2010, adds Kumar. "Obviously, things are looking up and the Indian scenario seems receptive to FDI in retail," he adds. Rajnikant Ajmera, former president of CREDAI explains that the retail segment in India faces a simple challenge: global trends do not fit-in entirely, given that the end customer has a different buying pattern and motivators to loyalty, with regards to a brand or a location. "If you look at Mumbai's retail story, initial projects faced all sorts of challenges. Some quietly shut down, were taken over or re-did their business plans. Issues pertaining to footfalls, the right size and mix of anchor tenants are still being learnt," says Ajmera. However, global brands will definitely want to enter the vast Indian market, he adds. Kumar points out that the government has proposed setting up a retail regulatory authority, which will have jurisdiction over the organised retail sector, including single-brand stores and the wholesale cash-and-carry trade. Amidst talk of a recovery from the global economic recession and the impact on real estate in India, Atul Modak, head of Kohinoor City Project says, "Global financial hiccups are a fact of life. They impact sentiment but will not stop economic growth in India. There is a demand-supply gap when it comes to quality commercial space. Prominent locations have and will always see terrific growth in residential space and this, in turn, will trigger the retail and commercial realty boom in any area," he says.
FDI in retail must be allowed, insists Anshuman Magazine, CMD of CB Richard Ellis South Asia Pvt Ltd. "India's retail trade is around $ 180 billion, which is almost 10 per cent of the GDP, employing more then 21 million persons. Policies should be more transparent and smooth, in order to attract foreign investors," he justifies. "Like any other person who invests money, we need to understand that foreign investors will also expect returns. Perhaps the challenge lies in reassuring these investors," he wonders aloud. According to Dubai-based real estate consultant, Rajesh Bijlani, the news of retail chain IKEA putting its India entry plans on hold, indicates the prevalent scenario. "There is something in India's policies and implementation that is keeping such major brands from entering right now, despite the fact that the economic indices are attractive to MNC brands," he feels. "Many retail brands that have outlets in the UAE have shown interest in setting up operations in India, but little is actually working out in the near future, as compared to the potential. I guess we need to work out red-tapism and other issues that seem to be delaying the entry of these retail players at present," he adds. FDI is not allowed in multi-brand retail, only in single-branded stores, points out Bappaditya Basu, vicepresident (retail), Jones Lang LaSalle Meghraj. "Foreign, single brand stores can open with an Indian partner and hold a maximum of 51 per cent stake, according to FDI norms. In the past, this was not allowed, which meant that only the franchisee route was available and it did not suit many of these brands," he explains. Among the global retailers seeking to enter the Indian retail arena are Hamleys, Diesel, et al, reveals Basu. "Leading international brands like Burberry, Smallsmith, Kenzo, Bottega Veneta, Canali and Just Cavali were already present on a limited scale and have now changed partners, to open up more stores in India. There are also some international coffee chains eyeing India and scouting for partners," he adds. Ashok Kumar, principal and managing director, CresaPartners India mentions how the Emke Group, which operates the biggest hypermarket chain in the Middle East under the LuLu and Al Falah brands, is entering the Indian market by developing the biggest shopping mall in Kochi, in Kerala. "Crocs India Retail Ltd, the lifestyle footwear brand, will launch eight to 10 more EBOs in India. Similarly, Manchester United Food & Beverage Asia, with a mandate to set up casual dining outlets tapping into the popularity of the multi-billion dollar club, has done a recce of select Indian cities in recent months and followed it up by talking to potential investors. Leonidas, a Belgian chocolate producer and seller, has entered the Indian market by establishing its retail operations in India. It claims to be the only chocolate brand having its own exclusive store," he adds. Similarly, New Delhi-based Grand Slam, one of the market leaders in high end fitness equipment, is planning to set up 30 more franchisee stores in tier-II and tier-III cities, by January 2010, adds Kumar. "Obviously, things are looking up and the Indian scenario seems receptive to FDI in retail," he adds. Rajnikant Ajmera, former president of CREDAI explains that the retail segment in India faces a simple challenge: global trends do not fit-in entirely, given that the end customer has a different buying pattern and motivators to loyalty, with regards to a brand or a location. "If you look at Mumbai's retail story, initial projects faced all sorts of challenges. Some quietly shut down, were taken over or re-did their business plans. Issues pertaining to footfalls, the right size and mix of anchor tenants are still being learnt," says Ajmera. However, global brands will definitely want to enter the vast Indian market, he adds. Kumar points out that the government has proposed setting up a retail regulatory authority, which will have jurisdiction over the organised retail sector, including single-brand stores and the wholesale cash-and-carry trade. Amidst talk of a recovery from the global economic recession and the impact on real estate in India, Atul Modak, head of Kohinoor City Project says, "Global financial hiccups are a fact of life. They impact sentiment but will not stop economic growth in India. There is a demand-supply gap when it comes to quality commercial space. Prominent locations have and will always see terrific growth in residential space and this, in turn, will trigger the retail and commercial realty boom in any area," he says.
Moti Mahal expanding internationally
With presence across India, Moti Mahal Delux Management Service Pvt Ltd, the chain which manages the brand Moti Mahal restaurants recently announced its plans to foray into overseas markets. By end of this year, the company is looking to launch its flagship stores in Melbourne, Australia and UAE.
According to the sources, the company is in active discussions with potential franchisees to set up its restaurants in Europe and New Zealand. Owing to the global meltdown, the company delayed its overseas plans.
By this year end, the company intends to launch about 12 new outlets in Delhi, Chennai, Bhopal and Mumbai. The company is in the process to consolidate its existing stores and it will also consider new restaurants in tier - III cities.
The company looks at expanding through franchise management model. Presently, the company is working on three major business formats: the restobar, casual fine dine and the food courts. The company may possibly explore new formats during this year.
In order to introduce its restaurants in the airport terminals, the company is contemplating on the financial viability. It may also consider major international airports for the brand`s expansion.
The company plans to launch two restaurants at Rajindera Nagar and Patel Nagar in Delhi, which will be operational by August 2009 and to introduce the brand in Pune.
Posted By - Shivender Singh Panwar
According to the sources, the company is in active discussions with potential franchisees to set up its restaurants in Europe and New Zealand. Owing to the global meltdown, the company delayed its overseas plans.
By this year end, the company intends to launch about 12 new outlets in Delhi, Chennai, Bhopal and Mumbai. The company is in the process to consolidate its existing stores and it will also consider new restaurants in tier - III cities.
The company looks at expanding through franchise management model. Presently, the company is working on three major business formats: the restobar, casual fine dine and the food courts. The company may possibly explore new formats during this year.
In order to introduce its restaurants in the airport terminals, the company is contemplating on the financial viability. It may also consider major international airports for the brand`s expansion.
The company plans to launch two restaurants at Rajindera Nagar and Patel Nagar in Delhi, which will be operational by August 2009 and to introduce the brand in Pune.
Posted By - Shivender Singh Panwar
Aspri brings Ceretto Wines of Italy to India
Aspri Spirits Private Limited, one of India’s leading importers and distributors of premium wines, beers and spirits inks an exclusive tie-up with Ceretto Wines for its marketing and distribution rights in India. Ceretto Wines is one of the most awarded & premium range of wines from Piedmont, Italy. Through this tie-up, Aspri Spirits will be the exclusive importer for Ceretto Wines in India and will handle complete marketing, sales and distribution for the brand. On the other hand, Ceretto Wines will benefit from Aspri’s widespread reach that will enable it to expand its footprint and extend presence to major markets in the country.Speaking on the tie-up Sumedh Singh Mandla, CEO, Aspri Spirits Private Limited says, “We are very delighted with this association. Ceretto is an iconic brand and it is very well in line with our philosophy. We will be working towards making these wines available in all premium hotels and restaurants across India.” Aspri Spirits Pvt. Ltd. which has developed one of the largest sales and distribution networks in India covers over 22 major states and will be expanding in near future. Speaking on the occasion, Fedrico Ceretto, Owner-Ceretto vineyards says, "We always give our best and choose to associate with the best in the industry. With this tie-up, we aim to enlarge our penetration & tap to the major Indian markets extensively.” The Ceretto brand was founded by Riccardo Ceretto, seventy years ago and is one of the largest producers of wines such as the Bricco Rocche Barolo, the Bricco Asili Barbaresco, Blangé Arneis, Moscato from Vignaioli di Santo Stefano, Dolcetto, Barbera and Langhe Monsordo.
Post by –Upmeet Kaur
Post by –Upmeet Kaur
Tunday Kebabs’ foray into franchising
‘Tunday Kebabs’, a 105 year old scrumptious speciality from the City of Nawabs is on the way to franchise its outlets across India. Owned by a family which had a humble beginning from a kebab-parantha shop in 1905 in Lucknow has now become the most renowned name ‘Tunday Private Ltd’.
Mohammad Usman, Chairman of the company decided to enter into the franchise business arrangements across the globe. M/S U.S. Eating Point is the first one to take up the franchisee. The franchised outlet is situated at a strategic location on the main picnic spot road in Khurram Nagar in Lucknow. M/S U.S. Eating Point, which has taken the franchise is a venture undertaken by two young NRIs Uzair and Shakil, who decided to say good bye to their respective businesses in Sharjah and return to their roots here. With an aim to make it global they are confident of going ahead with plans to have franchises not only across India but even abroad soon, particularly countries where the melt-in-the-mouth 'Galavati Kebabs' are already in great demand among NRIs.
Usman's next destination will be Bangaluru, where Abdul Rehman Khan has already sought a franchise arrangement to take it to new heights.
Tunday Kebab was a ramshackled shop in a remote corner of Lucknow before Mohammad Usman started an outlet in Aminabad in 1996. It is due to his desire to become global that now the business has gained a corporate identity.
In order to give a brand identity to their products they wish to standardise the ingredients to ensure the quality and standard of food with every franchisee. The mouth-watering Kebabs will have its own logo and trade mark, 'Tunday's', with Lucknow's famous Roomi Darwaza in the backdrop.
Posted By- Deepak Khatri
Mohammad Usman, Chairman of the company decided to enter into the franchise business arrangements across the globe. M/S U.S. Eating Point is the first one to take up the franchisee. The franchised outlet is situated at a strategic location on the main picnic spot road in Khurram Nagar in Lucknow. M/S U.S. Eating Point, which has taken the franchise is a venture undertaken by two young NRIs Uzair and Shakil, who decided to say good bye to their respective businesses in Sharjah and return to their roots here. With an aim to make it global they are confident of going ahead with plans to have franchises not only across India but even abroad soon, particularly countries where the melt-in-the-mouth 'Galavati Kebabs' are already in great demand among NRIs.
Usman's next destination will be Bangaluru, where Abdul Rehman Khan has already sought a franchise arrangement to take it to new heights.
Tunday Kebab was a ramshackled shop in a remote corner of Lucknow before Mohammad Usman started an outlet in Aminabad in 1996. It is due to his desire to become global that now the business has gained a corporate identity.
In order to give a brand identity to their products they wish to standardise the ingredients to ensure the quality and standard of food with every franchisee. The mouth-watering Kebabs will have its own logo and trade mark, 'Tunday's', with Lucknow's famous Roomi Darwaza in the backdrop.
Posted By- Deepak Khatri
Haryana to create ultra modern supply-chain infrastructure for horticulture products; a win-win proposition for farmers and retailers
Posted: By Shiv Bhatia
HSAMB (Haryana State Agricultural Marketing Board), a state government development agency, is taking up commendable steps to strengthen agriculture supply infrastructure for efficient marketing of fresh/ green horticulture products like fruits, vegetables, flowers, and herbs.
Apart from helping farmers in securing better price for their products, creation of modern suppy-chain infrastructure will go a long way in reducing spoilage/wastage of short shelf life fresh products. This will also provide common platform to retail chains and large national and global wholesalers to procure their requirements from well equipped market places in an organised manner.
The Agriculture Marketing Board will invest over Rs 100 crore (1 billion) in creating two modern wholesale markets at Panchkula and Mewat in Haryana (source). The wholesale markets, being set up under under National Horticulture Mission, will facilitate sale and purchase of fruits, vegetables, flowers and herbs.
Apart from facilities of auction halls for sale of fruits, vegetables and flowers, proposed wholesale markets will also have ultra modern facilities for grading packing halls, pre-coolers, cold storages for potato,etc, onion storage, organic food section, ripening chambers, among others. Among other provisions, the proposed markets will have infrastructure for retail chain and wholesale shops, retail market for farmers, business park, viewing gallery, transport and waste disposal area, water works, loading and unloading areas, and quality testing labs.
According to R R Jowel, HSAMB’s chief administrator, creation of these markets will help state farmers in seeking customers for their produce not only from Haryana but from national and international markets as well.
The Board, according to Jowel, is also considering a proposal for development of supply chain infrastructure, that will include creating facilities for pre-cooling, washing, waxing, grading, sorting, packing and cold storage of horticulture products at 17 existing market places at an additional investment of over Rs 75 crore (750 million).
The state agency, according to Jowel, is also setting up a new vegetable market at Panipat and a modern farmer’s market at Panchkula in the state. Apart from these, new vegetables and fruits markets including modern farmer’s market will also come up at Hisar, Narnaul, Rohtak and Karnal. Setting up of air conditioned market at Gurgaon, cold storage facilities for potatoes at Shahbad, storage facilities for onions at Jhajjar and multi utility cold storage at Sonipat are also going to form part of infrastructure plans.
Apple retail news: three new stores opened this weekend
While all of the attention this weekend was around the launch of Snow Leopard, Apple opened up three new retail stores; two new stores in the US and one in Germany.
First, the company opened a new store in Hamburg, Germany on Saturday, which is now Apple's second store in Germany, after the store in Munich opened last December.
Second, there's a new store in Dedham, Massachusetts at the Legacy Place shopping center. This store will be the ninth store in the state of Massachusetts.
Finally, Apple also opened up a new store at the Stonebriar shopping complex in Frisco, Texas. This store makes it the sixth store in the Dallas/Fort Worth area.
If you live in or are near one of these areas, be sure to check out your new Apple Store. As always, we would love to hear your stories of your first visit or see your photos!
Posted By- Tapasya Joshi
Saturday, August 29, 2009
Future group has begun hiring again with pick up of retail sales, says Biyani
Posted: By Shiv Bhatia
“Retail sales have again picked up and we are more or less back to the same level as we were before the global crisis broke out,” said Kishore Biyani, Founder and CEO of Future group.
Accordingly, Pantaloon Retail (Future group’s retail arm), which operates several multi-format, multi-product, retail chains in value, lifestyle, and home retail segments, across the country and provides direct employment to 40,000 persons, after a short blip, has begun hiring new employees for retail chains.
Retail sector, one of the biggest job creators in any economy, according to Biyani, is a key growth driver for the country’s economy. The sector offers great potential for creation of jobs everywhere. India’s retail sector, like other global economies, too has great potential for creation of jobs.
According to Biyani, increase in urban consumption leads to rural prosperity as well. According to a study conducted by his group, every Rs 100 worth of urban consumption results in channeling of Rs 39 to rural areas.
Biyani was participating in meeting of top industry leaders convened on Tuesday by India’s Finance Minister Pranab Mukherjee. The meeting was called to chart out a road map for reforms and sustainable economic growth.
India’s Retail Business Estimated to Touch $590 Billion in 2 Years
India’s retail business, the second largest employer after agriculture, is estimated to touch $590 billion in two years, Parliament was informed today. “The retail trade is estimated to grow at 13 per cent per annum from $322 billion in 2006-07 to $590 billion in 2011-12,” Minister of State for Commerce and Industry Jyotiraditya Scindia said in a written reply to the Lok Sabha. The share of organised retail in total retail has grown from 3.3 per cent in 2003-04 to 4.1 per cent 2006-07. Replying to the query on FDI in the country’s retail market, Scindia said there was no proposal to change the foreign direct investment (FDI) policy in the sector.
“Government also fully recognises the need to ensure that small retailers are not adversely affected by the growing organised retail and that there is no adverse effect on employment,” he added. A Parliamentary Standing Committee on Commerce has recommended a blanket ban on entering of domestic and foreign players into the retail trade. FDI is prohibited in retail trading except for single brand, where 51 per cent foreign investment is permitted. Foreign investment up to 100 per cent is permitted under the automatic route in wholesale cash and carry trading.
Posted By- Tapasya Joshi
A well-knit franchise formula for WELHOME
The renowned chain of home textiles in India and a division of Welspun Retail Ltd, WELHOME, has recently tied up with ‘Franchise India Holdings Limited’ for expanding its franchise network in India. Being the home décor giant, WELHOME has 200 stores across 120 cities offering quality products at competitive prices. Consumers can look forward to international quality merchandise, at value-for-money prices – with a lot of knowledge and fun in store while shopping at WELHOME
Currently focusing on its franchise network expansion, WELHOME plans to penetrate deeply in tier II and tier III cities. In today’s dynamic and constantly evolving times, where time is a constraint for shoppers WELHOME offers widest assortment of products under one roof. It includes bed and bath linen, living and dining accessories, furnishings and gift items and toys for children. WELHOME is in the business of soft furnishings and home accessories. They aim to fulfil every customer’s dream of converting a house into a home.
Posted By - Shivender Singh Panwar
Currently focusing on its franchise network expansion, WELHOME plans to penetrate deeply in tier II and tier III cities. In today’s dynamic and constantly evolving times, where time is a constraint for shoppers WELHOME offers widest assortment of products under one roof. It includes bed and bath linen, living and dining accessories, furnishings and gift items and toys for children. WELHOME is in the business of soft furnishings and home accessories. They aim to fulfil every customer’s dream of converting a house into a home.
Posted By - Shivender Singh Panwar
KFC plans to operate 500 outlets by 2015
KFC, a brand of Yum! Restaurants, is on its launching spree as it opens its 50th restaurant in the country which is the fourth in Chennai and plans to operate 500 KFC outlets by 2015. Their target is to open 100 outlets by ending 2010 and at least 300 outlets by 2011.
These outlets will be both franchised and company owned in the metros.
The fiscal year 2009 has been quite exciting for KFC with some novel products such as Krushers (a beverage) introduced in the market. There has been a 10 percent increase in the number of patrons of KFC and the sister brand Pizza Hut has also seen growth of about 7 percent.
Yum! will test-market its other big brand, Taco Bell, in Bangalore, where the first outlet will open by the end of the year. KFC is Yum! Restaurants’ biggest brand worldwide.
Yum! has over 35,000 restaurants in over 100 countries. KFC is present in over 80 countries, with more than 13,000 outlets. This quick service restaurant chain is now present in 11 cities in India.
Posted By - Deepak Khatri
These outlets will be both franchised and company owned in the metros.
The fiscal year 2009 has been quite exciting for KFC with some novel products such as Krushers (a beverage) introduced in the market. There has been a 10 percent increase in the number of patrons of KFC and the sister brand Pizza Hut has also seen growth of about 7 percent.
Yum! will test-market its other big brand, Taco Bell, in Bangalore, where the first outlet will open by the end of the year. KFC is Yum! Restaurants’ biggest brand worldwide.
Yum! has over 35,000 restaurants in over 100 countries. KFC is present in over 80 countries, with more than 13,000 outlets. This quick service restaurant chain is now present in 11 cities in India.
Posted By - Deepak Khatri
Friday, August 28, 2009
People not fit for management jobs
People not fit for management jobs:
The best practices will fail to build the right spirit unless management bears witness for its own professed beliefs every time it appoints a man to a management job.
Character is not something a man can acquire; if he does not bring it to the job, he will never be able to do it. It is not something one can fool people.The men with whom a man works and especially his subordinates know in a few weeks whether he has integrity or not. They may forgive a man a great deal: incompetence, ignorance, insecurity or bad manners. But they will not forgive him lack of integrity. Nor will they forgive higher management for choosing him about.
Integrity may be difficult to define, but what constitutes lack of integrity of such seriousness as to disqualify a man for managerial position
A man should not be appointed if he is more interested in the question: Who is right? Than in the question: What is right?
Management should not appoint a man who considers intelligence more important than integrity. For this is immaturity.
In addition a manager with high integrity is also responsible to keep a watch on his subordinates if the matters involve financial transactions with outside agencies and pre-empt any losses that his organization is likely to incur. Keeping a blind eye in total good faith is also not desirable from a competent manager.
Posted by:
Reshma Singh
HR
The best practices will fail to build the right spirit unless management bears witness for its own professed beliefs every time it appoints a man to a management job.
Character is not something a man can acquire; if he does not bring it to the job, he will never be able to do it. It is not something one can fool people.The men with whom a man works and especially his subordinates know in a few weeks whether he has integrity or not. They may forgive a man a great deal: incompetence, ignorance, insecurity or bad manners. But they will not forgive him lack of integrity. Nor will they forgive higher management for choosing him about.
Integrity may be difficult to define, but what constitutes lack of integrity of such seriousness as to disqualify a man for managerial position
A man should not be appointed if he is more interested in the question: Who is right? Than in the question: What is right?
Management should not appoint a man who considers intelligence more important than integrity. For this is immaturity.
In addition a manager with high integrity is also responsible to keep a watch on his subordinates if the matters involve financial transactions with outside agencies and pre-empt any losses that his organization is likely to incur. Keeping a blind eye in total good faith is also not desirable from a competent manager.
Posted by:
Reshma Singh
HR
Retail sales of medicines grew 8.9% in July
Retail sales of medicines grew 8.9% in July over the year ago period, down from 18.3% in the month of June, due to deficient monsoon.
This is because sales of anti-infectives, cough & cold preparations, anti-diarrheals, anti- asthamatics & anti-asthainflammatory which normally show a seasonal spurt in the month of July due to rainfall saw lower growth, consultancy firm ORG IMS said. The Rs 36,000 crore drug industry has been growing at 14-15% over the last few years, but sales in June rose 18.3% as stockists bought more drugs in anticipation of higher demands during the rainy season. ORG IMS tracks the sales figures of stockists and not the actual sales of drugs sold by over five lakh chemists across the country. Cipla held on to its top ranking for domestic sales, followed by Ranbaxy and Glaxosmithkline. Among products, Novartis’ painkiller Voveran continued to remain the top-selling drug.
This is because sales of anti-infectives, cough & cold preparations, anti-diarrheals, anti- asthamatics & anti-asthainflammatory which normally show a seasonal spurt in the month of July due to rainfall saw lower growth, consultancy firm ORG IMS said. The Rs 36,000 crore drug industry has been growing at 14-15% over the last few years, but sales in June rose 18.3% as stockists bought more drugs in anticipation of higher demands during the rainy season. ORG IMS tracks the sales figures of stockists and not the actual sales of drugs sold by over five lakh chemists across the country. Cipla held on to its top ranking for domestic sales, followed by Ranbaxy and Glaxosmithkline. Among products, Novartis’ painkiller Voveran continued to remain the top-selling drug.
its good time to invest..
In looking through the many articles on this subject I am struck by the wide range of opinions real estate professionals have regarding the current real estate climate. Many say this is a perfect time to buy because the market has bottomed; others say the market is stagnant; others maintain that we have "just reached the tip of the iceberg" and home prices will continue to fall dramatically. These opinions are currently peppered among various questions and answer threads in many subgroups i.e. buyers, sellers, bankers. My goal in starting this thread is to consolidate these opinions into one thread and spark more thorough debate. If you have an opinion on the issue, based on what you are personally seeing, studies or other data, or anything else you deem relevant, please weigh in!
Besides real estate being local, it is just like the stock market (although I like to think it is not as liquid as stocks). Sell low, buy low, sell high buy high. The advantage of owning real estate is...it will NEVER go bankrupt, don't have to worry about the business getting up and moving...How often has real estate depreciated and or totally lost its value? If you have a good Realtor and they offer sound, knowledgeable advice I would buy in any market. Do your research, find a good Realtor that you trust (just like a financial advisor) and buythe main reason for buying now is the combination of historically low interest rates coupled with low prices. While prices may drop further (I doubt very much), the interest rates will probably not drop much, if at all. The amount of money you will save in home prices by waiting for a lower priced home, will more than likely be offset by the rising interest rates. One thing is for sure: you will never be able to time the market perfectly. By the time the media reports that the housing market has bottomed out, it will have already occurred in the field by at least 4 months. When in your life have you ever been able to time anything perfectly? Buying a house should be a decision you make based on your personal situation and lifestyle preferences, and not just for investment purposes.
If you are buying for investment or your family taking advantage of this market is an option.
3 Question you should ask yourself.
1 Why am I buying? 2 What if I buy a house what will happen? 3 What will happen if I wait?
Will this be the biggest investment I will make or is a way of getting to where I want to be?
If you can answer these questions with a good positive outcome then you should be contacting your local realtor and buy. It is a great time to make money and go to the future. Do it now!
Besides real estate being local, it is just like the stock market (although I like to think it is not as liquid as stocks). Sell low, buy low, sell high buy high. The advantage of owning real estate is...it will NEVER go bankrupt, don't have to worry about the business getting up and moving...How often has real estate depreciated and or totally lost its value? If you have a good Realtor and they offer sound, knowledgeable advice I would buy in any market. Do your research, find a good Realtor that you trust (just like a financial advisor) and buythe main reason for buying now is the combination of historically low interest rates coupled with low prices. While prices may drop further (I doubt very much), the interest rates will probably not drop much, if at all. The amount of money you will save in home prices by waiting for a lower priced home, will more than likely be offset by the rising interest rates. One thing is for sure: you will never be able to time the market perfectly. By the time the media reports that the housing market has bottomed out, it will have already occurred in the field by at least 4 months. When in your life have you ever been able to time anything perfectly? Buying a house should be a decision you make based on your personal situation and lifestyle preferences, and not just for investment purposes.
If you are buying for investment or your family taking advantage of this market is an option.
3 Question you should ask yourself.
1 Why am I buying? 2 What if I buy a house what will happen? 3 What will happen if I wait?
Will this be the biggest investment I will make or is a way of getting to where I want to be?
If you can answer these questions with a good positive outcome then you should be contacting your local realtor and buy. It is a great time to make money and go to the future. Do it now!
Pantaloon Retail sees 30% growth in revenue this year
Pantaloon Retail sees 30% growth in revenue this year
As fears over swine flu spread across India, its effect is gradually being seen in the retail sector as well. Kishore Biyani, chief executive officer, Pantaloon Retail (India) Ltd, said in an interview that his company saw some impact on sales in Pune and Mumbai.
He, however, also said that the firm aimed to achieve at least 30% growth in revenue this year. Edited excerpts:What’s your sense of how this sales season will be, given that there is a swine flu scare going on?
We had much bigger plans and we are much organized this time. We had a lot of stock and a lot of collaborative approach with the manufacturers, but we have some impact in Pune, none of our stores is closed except one store in Pimpri (in Pune district).We are seeing decent business, but not crowd as we normally see..., but we are still expecting a sale of about Rs250 crore and whatever our yesterday’s number suggests, we are on track.
So you don’t see any big dip this time around year-on-year because of the kind of footfalls that have been happening?
We had about 6-8% lower sales in Mumbai than what we had expected. Pune was less than 20% but we have 116 overall stores in the country. The northern, southern and eastern region have done more than expectations and we have balanced out in that sense.I believe that you had indicated to investors that you are gunning for a 16-17% same-store growth in FY10.
Are you on track for that kind of an aggressive growth target?
We are looking at close to 30% growth and not 16-17%, so we are looking at 3.5-4 million sq. ft of expansion as a group in this fiscal year and that will contribute to some growth and also growth will happen out of same-store sales growth.So we are confident of 30% growth, not same-store, but overall growth in terms of revenue.
Posted by- Deepak Khatri
As fears over swine flu spread across India, its effect is gradually being seen in the retail sector as well. Kishore Biyani, chief executive officer, Pantaloon Retail (India) Ltd, said in an interview that his company saw some impact on sales in Pune and Mumbai.
He, however, also said that the firm aimed to achieve at least 30% growth in revenue this year. Edited excerpts:What’s your sense of how this sales season will be, given that there is a swine flu scare going on?
We had much bigger plans and we are much organized this time. We had a lot of stock and a lot of collaborative approach with the manufacturers, but we have some impact in Pune, none of our stores is closed except one store in Pimpri (in Pune district).We are seeing decent business, but not crowd as we normally see..., but we are still expecting a sale of about Rs250 crore and whatever our yesterday’s number suggests, we are on track.
So you don’t see any big dip this time around year-on-year because of the kind of footfalls that have been happening?
We had about 6-8% lower sales in Mumbai than what we had expected. Pune was less than 20% but we have 116 overall stores in the country. The northern, southern and eastern region have done more than expectations and we have balanced out in that sense.I believe that you had indicated to investors that you are gunning for a 16-17% same-store growth in FY10.
Are you on track for that kind of an aggressive growth target?
We are looking at close to 30% growth and not 16-17%, so we are looking at 3.5-4 million sq. ft of expansion as a group in this fiscal year and that will contribute to some growth and also growth will happen out of same-store sales growth.So we are confident of 30% growth, not same-store, but overall growth in terms of revenue.
Posted by- Deepak Khatri
Bata will open 200 new stores
Bata India Ltd plans to add 200 new stores to its retail network across the country over the next two years. The stores will be launched under the company’s new retail model that classifies stores into four formats – flagship
Stores, city stores, super stores, and family stores, according to a company release. Bata recently opened a flagship store and a super store in Thane. Modelled after the international Bata stores, the flagship store is spread across a lavish 4,800 square feet, while the super store has an area of over 6,000 square feet.“These stores offer customers a comfortable and trendy shopping experience in air conditioned comfort. The large format enables proper display of the shoe line, which has over 200 new designs on offer,” the release said. The company also announced the opening of its new flagship store in Thiruvananthapuram, Kerala. Spread across an area of 3,500 square feet, the new store offers customers the company’s entire range of footwear, including over 200 new designs. Bata is the largest footwear retailer in India with more than 1,100 stores.
Posted By- Tapasya Joshi
Stores, city stores, super stores, and family stores, according to a company release. Bata recently opened a flagship store and a super store in Thane. Modelled after the international Bata stores, the flagship store is spread across a lavish 4,800 square feet, while the super store has an area of over 6,000 square feet.“These stores offer customers a comfortable and trendy shopping experience in air conditioned comfort. The large format enables proper display of the shoe line, which has over 200 new designs on offer,” the release said. The company also announced the opening of its new flagship store in Thiruvananthapuram, Kerala. Spread across an area of 3,500 square feet, the new store offers customers the company’s entire range of footwear, including over 200 new designs. Bata is the largest footwear retailer in India with more than 1,100 stores.
Posted By- Tapasya Joshi
Bata will open 200 new stores
Bata India Ltd plans to add 200 new stores to its retail network across the country over the next two years. The stores will be launched under the company’s new retail model that classifies stores into four formats – flagship
Stores, city stores, super stores, and family stores, according to a company release. Bata recently opened a flagship store and a super store in Thane. Modelled after the international Bata stores, the flagship store is spread across a lavish 4,800 square feet, while the super store has an area of over 6,000 square feet.“These stores offer customers a comfortable and trendy shopping experience in air conditioned comfort. The large format enables proper display of the shoe line, which has over 200 new designs on offer,” the release said. The company also announced the opening of its new flagship store in Thiruvananthapuram, Kerala. Spread across an area of 3,500 square feet, the new store offers customers the company’s entire range of footwear, including over 200 new designs. Bata is the largest footwear retailer in India with more than 1,100 stores.
Posted By- Tapasya Joshi
Stores, city stores, super stores, and family stores, according to a company release. Bata recently opened a flagship store and a super store in Thane. Modelled after the international Bata stores, the flagship store is spread across a lavish 4,800 square feet, while the super store has an area of over 6,000 square feet.“These stores offer customers a comfortable and trendy shopping experience in air conditioned comfort. The large format enables proper display of the shoe line, which has over 200 new designs on offer,” the release said. The company also announced the opening of its new flagship store in Thiruvananthapuram, Kerala. Spread across an area of 3,500 square feet, the new store offers customers the company’s entire range of footwear, including over 200 new designs. Bata is the largest footwear retailer in India with more than 1,100 stores.
Posted By- Tapasya Joshi
Nokia Officially Launched its Music Store
Nokia officially launched its Music Store in India at a function held in Mumbai yesterday. With more than 3 million tracks across various genres available for download, it is easily one of the largest stores of its kind designed for Indian users.The store is loaded with heavy localized content and to achieve this, the company has collaborated with local music labels including Tseries, Yashraj Music, Saregama, BIG Music and Venus. Along with the Music Store launch, Nokia is expected to launch its Comes With Music service in India as well, later this year. On the sidelines of the Music Store launch, Nokia also announced the launch of three new devices in India. These include the Nokia 5630, 5530 XpressMusic and the 5230. We already have covered the launch of these phones in our preview here.
Coming back to the Music Store, the current version of the Nokia Music Store gives users a variety of options to download music. The service comes with an "on-device" client for downloading music over the air or the easier to use PC Client. Users can play the purchased tracks wherever they want to and can sync it to their phones or to their PCs - unlike the case with most other DRM laden music. The full-fledged launch of the Music Store comes months after Nokia has started offering purchase vouchers with select phone models on the E, N and the XpressMusic series of phones.At the launch of the service, Nokia's Head of Global Music, Elizabeth Schimel, informed that the Nokia Music Store is available in over 20 countries, with India being the 21st. Out of these countries, nine have access to the Comes With Music service. The service, as mentioned earlier, will also reach India by year-end. The specialty of the Nokia Music Store is its rich localized content. Nokia seems to have taken care in hiring people who have deep knowledge of local music genres and has managed to provide users with interesting content, as evident from the Home Screen of the Nokia Music Client. You can download the Music Store from the link provided at the beginning of the article.
Posted By Neha Dhall
Kerala retailers gear up for ‘Onam’ sales;
Kerala retailers gear up for ‘Onam’ sales;
Posted By: Shiv Bhatia
offer gifts, draws, shopping bonanzas to lure customers , the biggest harvest festival of Kerala marking the homecoming of legendary King Mahabali, despite clouds of global recession still hovering on the sky, is being celebrated with traditional gaiety, festivity, and feeling of happiness.While, Supplyco (Kerala State Civil Supplies Corporation), a state government retailer, has planned to celebrate the festival beginning the 28th August, 2009, private sector retail players have also geared up for the occasion with several mouth-watering shopping offers for their customers.Supplyco is hoping to garner sales of Rs 210 crore this Onam by setting up five Metro People’s Bazaars and 12 Town People’s Bazaars that will cater to customer needs of essential commodities and other household products at reasonable prices during the festival time.Sony, the leading Japanese consumer electronic brand, is all set to garner festive season business of Rs 75 crore, this Onam. Apart from promoting various other products in its range, Sony is expecting to sell 20,000 CTVs (LCDs) and 10,000 digicams during the period.Whirlpool, the well known brand of home appliances, is ready to storm the market with a wide range of washing machines and other durable products. The brand is expecting to garner sales of Rs 100 crore by selling 250,000 appliances this year. The brand sold 170,000 appliances last year.Tanishq, the leading gold jewellery maker owned by Tatas-led Titan, is offering gifts worth Rs 2 lakh at each store in Kerala. Besides, it is also freeing its customers from obligation of paying last installment under Golden Harvest Savings Scheme of the company.Panasonic India, the leading consumer electronics company, is hoping to double its sales during the Onam festival in Kerala. The durables brand is expecting to achieve Rs 40 crore worth business this year compared to Rs 20 crore in the previous year by offering an exchange and upgrade offer to its customers. Panasonic will exchange and/or upgrade old colour TV sets with new CTV, LCD or plasma TV sets.Sonata, the leading wrist watch maker, is offering 20 per cent special ‘Onam’ discount on its products. Sonata, according to its Regional Sales Manager Anand Moorthy, is looking at creating a distinct style and personality for its customers with the season’s ‘must have’ accessory.Zuari Furniture, a K K Birla company, has also targeted big jump in the festive business this year. The brand, despite global economic meltdown, has registered 55 per cent growth this year.Philips India, the leading consumer durables company, is looking at 40 per cent growth in its sales and is expecting to achieve sales worth Rs 60 crore for consumer electronic products during the quarter. It is offering free gifts and special prices on its products like CTVs and DVD players, among others.Zapp, the kidswear brand, which currently operates six stores in the state, has decided to bring cheer to faces of poor children this Onam by partnering with ‘SOS Children’s Village.’ The brand will be gifting toys/books to children from poor families through its outlets at Ernakulam and Edappally. Telecom service provider MTS, a mobile telephony brand of Sistema Shyam TeleServices Limited (SSTL), has announced special plans, called MSaver 98 and MSaver 199, exclusively for its customers in Kerala on the occasion of Onam. Even Tata Telecom, apart from special tariffs for the occasion, has come out with gift and other offers for its prepaid customers.Even State Bank of India (SBI) has reduced interest rates on consumer loans as “Onam Gift.’ The bank is offering interest rates of 7 per cent on housing loans and 8 per cent on car loans to its consumers.
Wednesday, August 19, 2009
Madura back in the black on cost controls, better margins
Aditya Birla Nuvo's fashion retail business Madura Garments, India's largest apparel maker, has turned cash positive after battling losses for 15 months in the wake of slowing consumer spend. The Rs 1,000-crore operations, with brands like Louis Philippe, Van Heusen and Allen Solly, posted cash profit in July and is projecting 10% rise in sales during the fiscal
Posted by Neha Dhall
Aditya Birla Nuvo's fashion retail business Madura Garments, India's largest apparel maker, has turned cash positive after battling losses for 15 months in the wake of slowing consumer spend. The Rs 1,000-crore operations, with brands like Louis Philippe, Van Heusen and Allen Solly, posted cash profit in July and is projecting 10% rise in sales during the fiscal
Posted by Neha Dhall
Tuesday, August 18, 2009
Organised retail to grow 40% touch
· Organised retail to grow 40%; touch $ 90 billion in 2011, says a research report. The Indian retail market, which is currently (2009) estimated at around US $ 450 billion, is expected to touch $ 720 billion by 2011. The organised retail sector currently estimated at $ 63 billion (14 per cent of the total) will, however, grow much faster at 40 per cent to reach $ 90 billion during this period.
· These are part of findings of a study entitled ‘Indian Retail Research 2009 Edition’ prepared and published by investment bank Northbridge Capital.
· According to the bank, while the overall Indian retail market is growing at 30 per cent, the annual rate of growth for the organised sector is going to be at around 40 per cent.
· “Retail market size in 2009 is estimated to be of USD 450 billion, growing at the rate of 30 per cent per annum. It is expected to grow to USD 720 billion by the end of 2011.”
· “However, the organised retail market is growing at the rate of 40 per cent and is anticipated to grow at a faster pace over the next three years, especially in view of the fact that major global players and Indian corporate houses are entering the fray in a big way. At the current growth rate it is expected to touch $90 billion by 2010,” says the report .
· The retail sector which accounts for 12 per cent of the country’s GDP and employs around 9 per cent of its workforce is well on its way to become a boom sector of the economy.
· “Retail in India is slowly moving its way towards becoming the next boom industry with the whole new concept of shopping has altered in terms of format and consumer buying behavior.”
· Organised retail to grow 40%; touch $ 90 billion in 2011, says a research report. The Indian retail market, which is currently (2009) estimated at around US $ 450 billion, is expected to touch $ 720 billion by 2011. The organised retail sector currently estimated at $ 63 billion (14 per cent of the total) will, however, grow much faster at 40 per cent to reach $ 90 billion during this period.
· These are part of findings of a study entitled ‘Indian Retail Research 2009 Edition’ prepared and published by investment bank Northbridge Capital.
· According to the bank, while the overall Indian retail market is growing at 30 per cent, the annual rate of growth for the organised sector is going to be at around 40 per cent.
· “Retail market size in 2009 is estimated to be of USD 450 billion, growing at the rate of 30 per cent per annum. It is expected to grow to USD 720 billion by the end of 2011.”
· “However, the organised retail market is growing at the rate of 40 per cent and is anticipated to grow at a faster pace over the next three years, especially in view of the fact that major global players and Indian corporate houses are entering the fray in a big way. At the current growth rate it is expected to touch $90 billion by 2010,” says the report .
· The retail sector which accounts for 12 per cent of the country’s GDP and employs around 9 per cent of its workforce is well on its way to become a boom sector of the economy.
· “Retail in India is slowly moving its way towards becoming the next boom industry with the whole new concept of shopping has altered in terms of format and consumer buying behavior.”
Monday, August 17, 2009
Festival Season (12th September to 11th October)
Ansal Plaza is the oldest shopping mall chain in India, having 6 malls in 4 states (Delhi, Greater Noida, Gurgaon, Ludhiana, Jalandhar and Jodhpur.
During this festival season we are doing series of events Rock Concerts, Fashion Shows, Music Concerts, Exhibitions, and many more at Ansal Plaza's which will be starting form 12th of September.
If you are interested you can make your bookings now.
Looking forward for your positive response.
For Any queries Contact
Nikhil -9717500299
Gagan - 9899961342
Neha 0 9871668516
Ansal Plaza is the oldest shopping mall chain in India, having 6 malls in 4 states (Delhi, Greater Noida, Gurgaon, Ludhiana, Jalandhar and Jodhpur.
During this festival season we are doing series of events Rock Concerts, Fashion Shows, Music Concerts, Exhibitions, and many more at Ansal Plaza's which will be starting form 12th of September.
If you are interested you can make your bookings now.
Looking forward for your positive response.
For Any queries Contact
Nikhil -9717500299
Gagan - 9899961342
Neha 0 9871668516
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