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Govt gets 6 proposals for 51% single-brand retail trade

The Indian Government has received six proposals from foreign companies to start single-brand retail operations with 51% ownership, Union Commerce & Industry Ministry said on Monday.

Retailers who have applied to the Government for 51% single-brand retail operations include Tommy Hillfiger, Brooks Brother Group, Italian jewellery brand Damiani International, French fashion brand Promod SAS, Fapa Company Ltd. and NA Pali Europe SARL.

Many of these retailers are already present in India via licensing and joint-venture partnerships with Indian retailers, reports said.

The Government has not taken a decision on these proposals, Jyotiraditya Scindia, junior Commerce & Industry Minister, said in parliament today.

Eight states, including Delhi, Maharashtra, Haryana and Andhra Pradesh, have expressed their support for FDI in multi-brand retail, Scindia said.

The Commerce & Industry Ministry said today that no decision has been taken on modifying the domestic sourcing norms.

In January this year, the Government allowed foreign retailers to set up wholly-owned operations in India, but a clause on local sourcing has discouraged these firms from applying for full ownership.

Only Ikea and Pavers England have applied so far for 100% single-brand retail presence in India.

Max Hypermarket, Auchan sign franchise agreement

Max Hypermarket India Private Limited (“Max Hypermarkets”) and Auchan Group today signed a franchise agreement for development of the hypermarket business in India.The existing stores of Max Hypermarket will be rebranded “Auchan” and shall operate under the franchise agreement.

Ramanathan Hariharan, Director, Landmark Group, commented, "We are very pleased at this new relationship with Auchan, one of the largest and most successful hypermarket operators in the world.The  Landmark Group has agressive growth plans for India, across various verticals ; and we believe that Auchan are the right franchise partners for us, as we continue to set benchmarks in Indian retailing.’

Commenting about the franchise partnership, Viney Singh, Managing Director, Max Hypermarket, said, “We are confident that this new relationship will help our company further enhance the standards of hypermarket retailing in the country, besides strengthening our back-end supply chain and processes. Auchan’s expertise in managing hypermarkets and our understanding of the Indian market will ensure we bring the best of value, choice and experience to our customers.”

"We share with Max Hypermarket, a renowned retailer operator in India, the same vision of business and look forward to sharing our know-how to foster the development of its hypermarkets under our brand. We consider this new franchise partnership in India as a great opportunity for Auchan to enhance its brand on a very high potential market, characterized by dynamism and a strong economic growth ", said Philippe Baroukh, General Manager, Hypermarkets of the Auchan Group.

The existing stores will be rebranded in Q4 of 2012. The franchise partnership is aimed at reinforcing the business objectives of both organizations in providing customers with best of value, choice and experience.

Max Hypermarkets and Auchan plan to open 12 - 15 new stores in a year across various geographies in India.
Infocus

Result

Rajesh Exports net profit at Rs982.67mn

Rajesh Exports Ltd. announced financial results for the quarter ended 30.06.2012. The company continued to consolidate its position with its retail initiative under the brand name of “SHUBH Jewellers”.

With a total of 80 retail stores, SHUBH Jewellers has emerged as the most trusted jewellery brand in the state of Karnataka and also as the largest retail jeweller in the state of Karnataka.Along with it’s export business, the retail business has emerged as a key driver of profitability in the company.

Highlights for the quarter ended 30th June, 2012

Revenues for the quarter ended June 30, 2012 jumped to 49,671 million,compared to 47,235 million the same quarter last year.

Net Profit after Tax grew to Rs. 982.67 mn from 951.23 mn compared to the corresponding quarter last year.

Rajesh Mehta, Chairman of Rajesh Exports Limited said, “I am pleased to announce the results for the quarter ended June 30, 2012, the company has posted a profit after tax of Rs. 982.67 million for the quarter. The Company has achieved an impressive growth in its retail business, and SHUBH Jewellers has emerged as a household brand in the state of Karnataka. I am glad that the company is now the largest retailer of gold jewellery in the state of Karnataka, I am confident that my team will ensure that in the near future SHUBH Jewellers emerges as the largest retailer of jewellery in the country, due to the policy of offering best Purity, Product and Price to the consumer at SHUBH Jewellers”.

Domestic News

Be a Diva everyday with eternal platinum jewellery

The eternal and everlasting quality of platinum makes it a perfect choice for today’s generation to include it in their jewellery box. The metal does not tarnish or fade making it easy to be worn on a daily basis, whether it is to work or college.

The elegant and unique designs crafted in white luminous platinum makes it highly desirable amongst the young independent women.

Platinum jewellery is the choice of modern day woman and it fulfils the emotion of making one feel truly special and set apart. The dainty new platinum collection has been specifically crafted keeping the contemporary Indian woman in mind, who prefers delicate yet precious jewellery.

The rarest of metals platinum has been coveted by discerning women for centuries. Found in very few places around the world, platinum is 30 times more rare than gold. It is this rarity and eternal feature makes platinum exclusive and distinctive – the perfect expression of your individuality.

From beautiful pendants to elegant necklaces inspired by floral and timeless Indian motifs and spirituality, the collection pays homage to the strength that comes with being a woman. It is perfect for college wear, a catch up with old friends, official power dressing, a relaxed Sunday brunch with family or a special date.

This new range of platinum jewellery starts at Rs. 10,000 onwards and is available across leading retailers Orra, Joyalukkas, Tanish, TBZ and many other authorised platinum jewellery retailers.

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Bombay Dyeing to abide by Supreme Court order

TBZ opens new showroom at Vadodara

A dazzling array of the world’s finest writing instruments

Nikon India celebrates World Photography Day

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Bonita expands its virtual presence with social networking site

GUNNAR Eyewear to hit Indian stores on Independence Day

Franchise India to host Master Franchise Show in New Delhi

Timex unveils first Helix Web-store

Star CJ presents Shopping ki Swatantrata Festival

Designer Bhakti Shah unveils Bridal Collection

GJSCI announces finalists participating in WorldSkills International 2013

Be a Diva everyday with eternal platinum jewellery

International News

U.K. July retail sales up

British retail sales  reported 0.3% monthly up in July and zooms 2.8% compared to the same month last year, but didn't appear to benefit from the start of the London Olympic Games.

Retailers are of the opinion that there has been no impact on sales from the Games in this trading period, reports stated.