Retail India Business - News, Views and Much More

Levis Opens South Asias Largest Levis Store in Bangalore

Levi Strauss India Pvt Ltd has just opened Levis Square at Bangalore measuring about 9000 Sq.Ft. and spread across 3 floors, which is South Asias largest store. It also happens to be the 2nd largest in the world.

Finally the global brands are taking steps in setting up the true shopping experience that they do elsewhere, otherwise, rather than just opening more stores and capturing market share.

India's First FDI in Single Brand Retailing Policy

After weeks and months of the recent policy wherein FDI in Single Brand Retail allowing upto 51% was rolled out, only now has the first proposal being approved. Mauritius based Tano India Private Ltd would invest about Rs. 2.8 Crores through this route in setting up an exclusive retail outlet for Nike covering its entire product category. The Joint Venture is with Moja Shoes Private Ltd.

Pantaloon's Debut With Generali in Insurance

Pantaloon is a step closer to following its undisclosed icon - Wal-Mart.

Pantaloon has yet again entered into a new business and this time it is the Insurance Sector with a Joint Venture with Italy's Generali although it needs the final regulatory approval for the government.

Wal-Mart Exits South Korea

Wal-Mart has just announced its exit from South Korea where it has a presence with 16 stores. The move follows Carrefour's recent exit. Although both Carrefour and Wal-Mart have not expressly mentioned the reason for thier exit, it is due to the stalled growth for the chaines for the last 2 to 3 years. Shinsegae, South Koreas leading retailer will take over Wal-Marts 16 stores.

Tesco - Brand Magnet in India

Tesco is probably to launch a smaller and different version of its Tesco brand. The brand it may set in India would be a smaller hypermart format called Magnet. This will be in partnership with Home Care Retail Mart Pvt Ltd.

A T Kearney's Retail Development Index Ranks India 1

India continues to top practically every research or report in Retailing. The recent A.T.Kearney's 2006 Global Retail Development Index ranks India at number 1.

As the report states India's estimated $350 Billion retail market is expected to grow at 13% with an 8% GDP, pushes India to the number 1 spot.

The governments recent opening up the FDI in single brand retailing allowing International companies to set base here with up to 51% ownership but only in single brand retailing like Reebok or Pizza Hut. Although they are all here through join ventures or otherwise, this has been seen as an primer to the opening up of the sector although at a gradual pace.