N R Narayana Murthy, the global IT face of India and Chief Mentor of NASDAQ listed Infosys, welcomed the Bharti-Wal-Mart JV, saying Bharati would benefit from the expertise and technology of the world’s largest retail chain. Murthy was responding to questions on the sidelines of an international conference on ‘managing technology innovation in IT’, organised by the Institution of Engineering and Technology (IET), reports PTI.
“What’s unique about Wal-Mart is its ability to leverage the power of technology to bring in efficiency and customer comfort in an unheard of manner and Bharati would get the benefit of that technology, that expertise and that environment,” said Murthy. “It’s a very important progress,” added Murthy.
The NASDAQ listed, Rs.11,031 crore, Infosys draws 15% of its revenues from the retail sector and works with all big retailers including Tesco and Wal-Mart.
Categories: Retail News
Telecom major, Bharati Enterprises, which recently entered into a tie-up with the world’s biggest retailer Wal-Mart for cash and carry as well as back-end operations has clarified that its alliance with the US firm was “as per the guidelines.”
“Bharati will manage the front-end 100%, while Wal-mart will provide back-end, logistics and supply chain support.” “The deal is as per the guidelines,” said Rajan Bharti Mittal, joint managing director, Bharti Enterprises, who according to grapvine is expected to head the Bharati’s retail business.
Repudiating the charge that Wal-Mart is entering the Indian retail sector through a back door, Mittal explained that Wal-mart will be doing, what other major global retailer Metro AG of Germany is already doing in India.
It may be recalled that the Left parties have opposed Wal-Mart’s entry into India, who have alleged that the retail giant’s joint venture with Bharti would enable FDI entry into the retail sector through the back door.
Source: PTI
Categories: Retail News
Kishore Biyani owned, Rupees 2,199 crore, Future group flagship, Pantaloon is launching two new brands to exclusively woo youth segment, particularly the college students, reports Business Standard.
The Future Group, has recently launched ‘Jealous 21,’ with opening of its first store in Mumbai. ‘Jealous 21,’ a denim wear brand targeted at women aged between 21 (+/-4) years, offers a range of casual, club, and denim wear collection for the middle and upper middle income segments. Indus League Clothing, the group company responsible for marketing ‘Jealous 21′ plans to open 16 ‘Jealous 21′ stores by June 2007 in eight big cities across the country. Over the next 3 years, apart from the department and lifestyle stores, ‘Jealous 21′ will also be made available through 130 odd stand-alone stores.
The second youth brand christened ‘Top 10,’ which has been named after taking into consideration the popularity, particulary among college going students, of the weekly top 10 listings of movies, music and books, etc. being published by news papers, TV channels, etc.
‘Top 10′ among others will offer the best 10 styles and fashion collections for the youth and will have a special collection dedicated to colleges in Mumbai.
“It is well known that campus rivalry exists among college students and one always takes pride in wearing the college batch on their sleeves,” said Zahid Shaikh, chief of marketing
The first ‘Top 10′ store will be launched in Mumbai within a week.
Categories: Retail Industry
Kishore Biyani owned, Rupees 2,199 crore, Future group flagship, Pantaloon is launching two new brands to exclusively woo youth segment, particularly the college students, reports Business Standard.
The Future Group, has recently launched ‘Jealous 21,’ with opening of its first store in Mumbai. ‘Jealous 21,’ a denim wear brand targeted at women aged between 21 (+/-4) years, offers a range of casual, club, and denim wear collection for the middle and upper middle income segments. Indus League Clothing, the group company responsible for marketing ‘Jealous 21′ plans to open 16 ‘Jealous 21′ stores by June 2007 in eight big cities across the country. Over the next 3 years, apart from the department and lifestyle stores, ‘Jealous 21′ will also be made available through 130 odd stand-alone stores.
The second youth brand christened ‘Top 10,’ which has been named after taking into consideration the popularity, particulary among college going students, of the weekly top 10 listings of movies, music and books, etc. being published by news papers, TV channels, etc.
‘Top 10′ among others will offer the best 10 styles and fashion collections for the youth and will have a special collection dedicated to colleges in Mumbai.
“It is well known that campus rivalry exists among college students and one always takes pride in wearing the college batch on their sleeves,” said Zahid Shaikh, chief of marketing
The first ‘Top 10′ store will be launched in Mumbai within a week.
Categories: Retail Industry
On being quizzed about FDI in multi-brand retail, during India Economic Summit, Reliance chairman Mukesh Ambani, said that, considering that the sector offered immense potential, it should be allowed. FDI in the sector was welcome as the retail potential was real and no single large company or an MNC would be able to capture it, he added.
The retail segment had the potential to aid not only in India’s economic growth but also to provide employment opportunities, said Ambani. 10 to 15 million jobs would be generated over the next three to five years due to the explosion in the retail sector, he added.
One of the biggest opportunities offered by the retail, according to Ambani, was to create purchasing power, even at the bottom of the pyramid.
Categories: Retail News · Retail Trends · Retail policies
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