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Retail Newsletter – December 02 to 06, 2013

India Infoline News Service/ Mumbai 13:08 , Dec 07, 2013

As a consequence of India’s retail transformation, the country has seen a substantial increase in mall space over the years

Top News

JLL: Indian Retail - Managing Dead Mall Spaces
As a consequence of India’s retail transformation, the country has seen a substantial increase in mall space over the years. However, out of the hundreds of the shopping centres operational, only a few can be counted as genuinely successful. The success of a mall depends upon various factors such as location, accessibility, tenant mix and also optimal space utilisation. One of the prime factors for the less-than-successful malls in the country is poor mall design, with suboptimal utilisation of spaces. This results in ‘dead spaces’.

Considering the present market dynamics, dead mall space management has become a critical consideration when it comes to the optimisation of a shopping centre’s per square foot productivity. In a rapidly evolving retail market like India, adapting to the changing needs of consumers as well as retailers has become imperative. If the dead spaces in malls can be converted into productive and useful areas for leisure, entertainment and dining, then the mall would attract greater footfalls. In order to achieve efficient space management, the designing of shopping centres requires a holistic approach so as to optimise the leasable area for the mall developers.

Apart from non-performing malls, successful malls in India are also continuously working towards eliminating dead spaces so as to achieve better rental realisation. This can be achieved by:

Making structural design-oriented changes
Implementing softer parameters such as changing the positioning of anchor stores, or
Introducing major attractions or newer retail categories in dead spaces.


On-going Remedies
In India, some mall developers have eliminated the alleys or narrow passages that the mall’s inherently poor design produced, and have merged them with existing stores. Such narrow alleys create a secondary circulation pattern with no central concentration zone in the mall, thereby leading to decreased footfalls in such areas. This also creates a dead space with lack of visibility and access for the stores towards the rear, thereby affecting the rental realisation of these stores.

In order to improve leasing feasibility, developers are now opting for better design with a good circulation and visibility of such stores. There is now greater emphasis on directing footfall traffic along the mall’s entire floor scape, thereby providing parity and frontage to all stores…Read More


Domestic News

Clay Craft India joins hands with Jabong.com
India’s fastest growing manufacturer and retailer of bone china and ceramic tableware, Clay Craft India has today announced its strategic tie-up with leading online retailer – Jabong.com. This strategic tie-up is exclusively arranged to present the luxurious product range of clay craft across India. Under this exclusive tie-up, Clay Craft’s fine bone china, ceramic ware and Thermoware products will be merchandisedon Jabong.com. This product range includes tableware and tea-sets, kitchenware, interior art pieces and exclusively designed mugs. Traditional and Mughal theme based products will be the key attractions that will serve the demand of niche class, and will meet the expectations of corporate and social gifting culture. Starting from a range of 100 ml to 500 ml Mugs, set of Cup & Saucers, various combinations of Tea/Coffee sets, Dinnerware for six persons serving and serving for eight persons in combination of 18 pieces to 124 pieces will be available on this portal…Read More

Beetel launches ‘Retro Phone’ with new age digital technology
Beetel Teletech Limited (Beetel), a market leader in fixed line devices announced the launch of the ‘Retro Phone’ - a stylish new device designed with an impressive packaging of new age digital technology into a colourful, sleek & retro look. It is a collector’s piece which boasts of a never before classic yet modern design. A lifestyle enabler, it can jazz up the room with its youthful look & feel. Offering innovative benefits like a round digital dial & 3.5mm audio jack which allows customer to even connect the device to a headphone for a mobile like hands free experience receiver or vice-versa for a old fashion experience on a mobile device, the phone is the best of its kind to hit the market. The phone also has a unique anti-steal alarm which intimates against any parallel use of the number at any point in time. Designed in exciting colour combinations of red & white and black& white, it will be available across the country at about 4000 dealer outlets of Beetel at an affordable price of  just Rs. 1690/-.

Kurlon unveils its latest product ‘New Klassic Plus’
Kurlon introduces another ‘Klassic’ example of comfort with its latest product – “New Klassic Plus”. Welcome home the pinnacle of wellbeing as it guarantees a perfect balance of relaxation and blissful sleep after a long day. True to every product from the stables of Kurlon, this specially crafted mattress is custom made with the finest materials of the rubberized coir with “Advanced Centre Densification” (ACD). The ACD technology strengthens the mattress at the centre which enables it to bear any amount of body weight without sagging. The PU (Polyurethane Foam) ensures the right support to the body.

New Klassic Plus is made in accordance with international style and portrays a vogue the latest trends. It is quilted on the both sides for dual comfort and the plush side can be used for extra comfort while the firm side can be used for extra support to compliments one’s need of comfort. The mattress priced at Rs 32, 366/- for the Queen size and is available across all Kurlon authorized stores.


Myntra.com launches its latest TVC

Myntra.com, India’s leading e-commerce platform for fashion and  lifestyle products, launched its latest brand advertising campaign on the theme – “Real Life Mein Aisa Hota Hai Kya”. The TVC titled ‘Ayega, Ghar Baithe Payega’ communicates the benefits of convenience and ease of shopping online at Myntra.com. The TVC truly establishes Myntra.com as the online fashion destination and positions it as one of the country's most comprehensive online fashion stores. The commercial was first launched on Myntra.com’s social media platforms Youtube and Facebook before being aired across major TV channels starting November 30, 2013. Demystifying the inbuilt inertias of shopping online, Myntra.com’s latest ad gives an innovative treatment to educate and captivate the audience on the perks of online shopping over offline. The ad showcases a mammoth parcel being carried across crowded streets by a large number of Myntra delivery boys. The parcel gets ferried across the river, over the bridge and through tiny lanes to reach its final destination. The parcel upon arrival unveils the numerous fashion apparel and accessory options that Myntra.com offers its customers, reiterating its position as the one-stop-shop for fashion. The catchy background score picks pace through the journey and conveys advantages of shopping with Myntra.com in a simple, realistic manner.

International News

Moody's assigns Baa1 to Starbucks' proposed senior unsecured notes
Moody's Investors Service today assigned a Baa1 rating to Starbucks Corporation's ("Starbucks") proposed 3- year and 5-year senior unsecured note offerings (aggregating $750 million in total). The rating outlook is positive. Proceeds from the proposed notes will be used to fund a portion of the recent arbitration award to Kraft Foods Global, Inc. and for general corporate purposes.

Ratings Rationale
The Baa1 senior unsecured rating reflects Starbucks global brand strength, dominant position in the US specialty coffee segment, global diversification, meaningful scale, solid credit metrics, and very good liquidity. Fundamentally, the ratings also reflect the negative impact that soft consumer spending and heightened competition could have on consumer visits, operating performance, and debt protection measures if overall consumer spending remains soft for a prolonged period. The ratings also consider the limited scope and concept concentration which is focused towards a single product -- coffee.

The positive outlook reflects Moody's view that greater customer focus, new product offerings, and reasonable level of new restaurant growth both in the U.S. and internationally should continue to strengthen the Starbucks brand and drive further improvement in earnings, cash flows, and debt protection metrics. The outlook also incorporates Moody's view that management will balance returns to shareholders in a manner that preserves credit metrics and liquidity appropriate for a higher rating.

A higher rating would require maintaining solid operating performance, particularly positive same store sales and strong debt protection metrics with debt to EBITDA of under 2.5 times, EBITA coverage of gross interest of around 7.0 times and retained cash flow to debt of over 25% on a sustained basis. An upgrade would also require management's firm commitment to a balanced financial policy that is consistent with a higher rating and maintaining very good liquidity…Read More

 



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