Top News
Retail stocks flare up on renewed FDI hopes
Shares of retail companies such as Shoppers Stop, Trent, Pantaloon India and Provogue rallied on Thursday in an otherwise muted session, after media reports indicated that the Government was likely to revive an order allowing foreign investors to own majority stakes in local supermarkets and department stores after July 19 presidential elections.
In December 2011, the Centre suspended its decision to allow overseas retailers to open supermarkets following protests by the opposition and few allies.
The move is being spearheaded by Union Commerce & Industry Minister Anand Sharma, who has been sounding out state governments and other stakeholders, to reach a consensus, according to a business newspaper.
Pantaloon is part of the Future Group and operates the Big Bazaar hypermarket chain while Shoppers Stop operates the Hypercity chain. Trent operates hypermarket by the name Star India Bazaar.
Retail FDI after presidential polls?
Once the presidential polls of July 19 are done with, with the change of guard at the Finance Ministry, we can expect some fast-tracking on the reforms front.
The government plans to give a big push to foreign direct investment (FDI) in multi-brand retail after the presidential polls this month.
The move will enable players such as Walmart and Carrefour to make an entry into the country.
Last year, the Cabinet had approved 51% FDI in multi-brand retail with riders and raised the cap to 100% FDI from the 51% earlier in single-brand retail.
However, the Centre had to take a U-turn on its decision in the face of stiff opposition from the Opposition and allies such as the Trinamool Congress (TMC).
While TMC president Mamata Banerjee has been sidelined because of her stand on the presidential polls, the government has found an ally in the Samajwadi Party and hopes to move ahead with its retail reform with the support of the latter.
The government has managed to get the support of the chief ministers of Odisha, Punjab, Uttar Pradesh, Delhi, Maharashtra, Haryana, Andhra Pradesh and Assam for the move.
However, the move is being met with strong opposition from several states, including Bengal, Bihar and Kerala.
Officials said the Centre would be only a facilitator in opening up the sector. States have a larger role to play as they will have to grant permission to the retailers under local laws, such as Shops and Establishments Act and Agricultural Produce Marketing Committee Act.
The move is expected to bring large-scale technological reforms and would also check wastage. Nearly 35-40% of fruits and vegetables and about 10% of foodgrains are wasted in India.
Domestic News
Samsonite unveils smart collection shoes for Men
You think you have mastered the way to a woman's heart? Think again? “Shoes maketh a Man” - a phrase for time untold still holds so much relevance. Shoes can literally make or break an entire outfit -- this cannot be stressed enough. And this isn't only essential when it comes to women, but it's also crucial when applying for a job, and going out on the town with friends. If you want others to be impressed when they look you over, you'd better make sure your shoes match the rest of your outfit, and that they are of the latest style.
Samsonite, the leading global luggage brand at the helm of world-class quality and innovation and keeping with the current trend offers the discerning man, a collection that comprises the must-have for every wardrobe. Stylishly crafted and handpicked, these shoes strike a perfect balance between comfort and style. From an adventurous outdoor, to a rendezvous with friends, being the boss’s most trusted at work or hitting the red carpet, the new smart collection has all that it takes to make you the toast of the town. The lace up oxfords in Black and Brown have chiseled features that can make for formal office wear and also parties, the choice is yours. Either way you win! The boots add up to the machismo and great companion for any casual get together. The brown suede moccasin adds the much comfort look in the collection, the pair you rely on the most. Not to forget the gorgeous oxford styled loafers which balance the casual affair with much subtlety.
For all the style and trendiness, the new collection is priced fashionably at Rs. 3490 and goes up to Rs. 6990 and is available across leading Samsonite retail outlets across the country.
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International News
Toblerone comes to India
Cadbury India announced the launch of Toblerone, the legendary triangular chocolate from Kraft Foods in India. Relished by consumers in over 122 countries, this delicious Swiss chocolate, infused with honey and almond nougat is being introduced in India in the classic ‘Milk Chocolate’ flavour. Given its premium quality and unique triangular shape, Toblerone makes for a perfect gift for any occasion.
Commenting on the launch, Chandramouli Venkatesan, Director – Snacking & Strategy, Cadbury India said, “It gives me immense pleasure to officially launch Toblerone in India. It is a landmark achievement for us as we add Toblerone to our chocolate portfolio. This launch is in line with our business objective of growing the premium gifting chocolate market and we are confident that Toblerone will significantly help us drive future growth.”
Toblerone, a legendary Swiss Chocolate, is over a century-old and prides itself on being the only triangular chocolate in the world. It is manufactured only in one factory, Bern Brunnen in Switzerland and exported to counties all across the world. The most preferred premium gifting chocolate for globe-trotters, it is the No. 1 brand across duty free stores at airports across the world.
Cadbury India aspires to position this heritage brand as one of the most premium gifting brands in the country with ‘Gift like no one else’ as the brand theme.
“Toblerone is globally known for being unconventional. Our consumer research in India showed that Indians are increasingly looking for unique gifting options that can delight and touch the heart of the receiver. Being the pioneers of chocolate gifting in India, we believe that Toblerone with its unique shape, distinctive taste, Swiss heritage and premium quality is the perfect choice to make a mark in gifting,” added Mr. Venkatesan.
Established in 1908, this iconic brand will now be available across India through modern retail outlets in 5 pack sizes - 50 gm for Rs. 65, 100 gm for Rs. 130, 150 gms tiny box for Rs. 375, 200 gm for Rs. 250 and 400 gm for Rs. 430.
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