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123...FDI in retail gets victory in Rajya Sabha
The UPA government on Friday won the vote in the Rajya Sabha on foreign direct investment in retail after winning the same in the Lok Sabha of Wednesday.
The government can breathe easy for a while as it managed to muster support for the vote in the Rajya Sabha on foreign direct investment in retail.
Following a victory in the Lok Sabha earlier on Wednesday, this means that foreign equity in multi-brand retail in the country can now be a reality.
In the Rajya Sabha, the motion opposing FDI in multi-brand retail saw 123 votes being cast against it while 109 votes were in favour of the motion.
Earlier in the day, the Samajwadi Party staged a walk out similar to what they had done in the Lok Sabha.
Commerce Minister Anand Sharma has maintained that FDI in multi-brand retail will not render small traders unemployed or hurt the interests of farmers. Speaking in the Rajya Sabha, he said 11 states and many trader organisations including farmers were in favour of allowing FDI in retail.
Shares of Tara Jewels listed at Rs 242, a 5 percent premium to issue price of Rs 230, according to reports. At 11:07am, stock is currently trading at Rs229, down Rs0.10. The stock has hit a high of Rs254 and a low of Rs229.
Reports stated that the company raised Rs 1.79bn through the issue, which comprised of a fresh issue of equity shares worth Rs 109.5 crore and an offer for sale of Rs 70 crore worth of shares by Fabrikant H K Trading. It had set a price band of Rs 225-230.
Tara Jewels is an integrated player in the jewellery industry with experience ranging from designing to retailing. The Company’s business can be divided into three operations namely, manufacturing, exporting and retailing with the portfolio of products includes gold, platinum, honeydium, pristinium and silver jewellery with or without studded precious and semi-precious stones.
Tara Jewels conducts jewellery retail operations under the brand “Tara Jewellers”. The company entered jewellery retailing in India in October 2008 with the launch of their Existing Store at Andheri, Mumbai and currently it operate 30 Stores.
The company primarily exports to Australia, China, Canada, European Union, South Africa, UAE, UK and USA and 12 countries in European Union including Austria, Germany and Switzerland. The company has four manufacturing units, of which one is located in Panyu, China. The other three units are located in Mumbai, India out of which two units are situated in SEEPZ and one in MIDC
Retail mall supply across top seven cities of India slowed considerably: JLL
RETAIL REAL ESTATE IN 2012
With an operational stock of close to 65 million sq ft during 2012 YTD, the retail mall supply across the top seven cities of India slowed considerably as compared to the supply recorded in 2011.
With a drop in supply of over 65%, new completions in 2012YTD were at a new low when we consider the trend of the past five years (since 2007). Barring Hyderabad, all cities recorded completions during 2012, albeit at a slower pace than witnessed in 2011.
Mumbai, NCR-Delhi, Bangalore and Chennai together absorbed 81% of the total retail space in 2012. This is significant, considering their consolidated contribution of 70% in total retail space absorption in 2011.
Retailers in cities like NCR-Delhi, Mumbai and Bangalore continued to actively lease space in superior quality malls due to the limited availability of new space and the low vacancy rates in existing prime malls. The total net absorption of retail space across India projected for 2012 was 4.4 million square feet, led by NCR-Delhi and Bangalore (which together absorbed 2.6 million square feet). They were followed by Mumbai, Pune and Kolkata, where absorption was around 0.8, 0.5 and 0.4 million square feet respectively.
Anuj Puri, Chairman & Country Head, Jones Lang LaSalle India
Dunkin' Donuts, the world's leading baked goods and coffee chain has launched its first restaurant in Noida at the Great India Place mall. This is the 7th store of Dunkin' Donuts in India.
Following the overwhelming response to its existing restaurants in Delhi NCR, Dunkin' Donuts restaurant in Noida is becoming a huge draw among the Noida residents who are especially appreciative of the great all-day menu of food and fantastic range of beverages that the brand offers.
The Dunkin' Donuts restaurant is committed to providing guests with exceptionally delicious range of food and beverages. The menu will includes extensive range of donuts, Dunkin' Donuts Original Blend drip coffee; espresso based beverages, as well as a delectable range of sandwiches made out of artisan breads such as focaccia, croissants, ciabatta and bagels. The beverages menu has also been expanded with fruit milkshakes, smoothies and tea. Read more…
eBay India released the Quarterly Battle of the Gadget Rankings for the most popular gadget models & brands based on an analysis of all gadget transactions on eBay India from July 1, 2012 to September 30, 2012. The research report showcases interesting trends of India’s Top Gadget Cities, Models & Brands across 5 popular gadget categories of Mobile Phones, Laptops, Tablets, Digital Cameras, & Televisions. Tablets, which earlier was part of the Laptops Category has been separated and highlighted as a new significant electronics category.
The most popular gadget brand has been taken over by Sony with 20% of market share across the gadget categories of Mobile Phones, Laptops, Tablets, Digital Cameras, & Televisions on eBay India. The most popular brands are Sony in the Mobile Phones category, Dell in the Laptop category, iBerry in the Tablets category, Nikon & Canon in the Digital Camera category & Samsung in the TV Category. On an average day on eBay India, a mobile handset sells every 2 minutes, a laptop sells every 23 minutes, a tablet sells every 11 minutes, a digital camera sells every 20 minutes & a TV sells every 43 minutes on eBay India. Read more…
Lanco Hills, one of a world’s largest mixed development project in a single phase today, announced the launch of its most awaited phase - The Mega Mall, which will be the largest mall in South India once constructed. Planned with in depth research and benchmarked with the best in the world, the Mall will bring a completely new experience for the people of twin cities.
Unlike most of the other malls in the country that are skewed towards only one format, the Lanco Hills Mega Mall will be a destination mall which will serve to all demographics and tastes with widest range of options in every sphere like shopping, movies, gaming, entertainment, and dining. The concept of the mall is in line with the promise of Lanco Hills to offer everything under one roof from luxury homes to office spaces to shopping and entertainment zones.
The mall which will be the largest in South India in terms of built up space, largest number of shopping outlets and entertainment options under one roof is expected to be completed in next 30 months with an investment of 500 crores. Read more…
The Dramatic Art and Design Academy (DADA) will host Delhi Ibsen International festival under the auspices of the Royal Norwegian Embassy to present the richness and diversity of the work of Henrik Ibsen and the varied manifestations of his text produced in Indian context. The seven-day theatre festival is scheduled from 1st to 7th December.
Now into its fifth year, the Delhi Ibsen International festival incorporates new initiatives to bring together international collaboration between theatre directors from abroad, and actors, designers and technicians from India. The experience of such cultural interaction enriches everyone and often brings forth unexpected results. The festival will bring a wide range of productions, which represent many new trends in theatre internationally.
Of the plays commissioned by the Delhi Ibsen International Festival, three are by very young Indian directors, which include Sankar Venkatreswaran from Thrissur, Heisnam Tomba from Imphal and Shubham Bhatia of Ramjas College from Delhi. These three productions, ‘When We Dead Awaken’ and ‘An Enemy of the People’, represent the new trends of young directors working in India, and ‘The League of Youth’, was part of the University Ibsen Festival in September, and because of its very successful adaptation into a rural Indian scenario as ‘Jai Jawaan Party’, it was included in this main Ibsen festival. Read more…
With reference to the news item appearing in a leading financial daily titled "Premji fund back in retail with Heritage Foods stake buy", Heritage Foods (India) Ltd has clarified that company decided to subsidiarise retail business and a wholly owned subsidiary company namely Heritage Foods Retail Ltd was incorporated and the decision of the Board was informed to the Stock Exchanges on September 26, 2008. Company is open for strategic partnership in retail business for accelerating its growth. However before finalizing any such deal the Company will follow the prescribed guidelines as per the Listing Agreement.
Company is not looking for any strategic investor at the group company level (HFIL) and the promoters are not looking to sell their stake. The buzz in the market regarding open offer by a strategic player with a total transaction value of $ 100mn, is not true."
Ferns N Petals (FNP), the largest organized player in the flower retail business in India has found the right match for its expansion in the Tier III and Tier IV towns. The brand recently opened its 150th retail store in the Faizabad (Uttar Pradesh).
With this, the brand has also re-emphasized its focus on emerging cities and towns where demographics favor the expansion. In the last 3 months, FNP opened around 13 stores in Tier II, III and IV cities that included Bilaspur, Bhilai, Raipur, Guwahati, Bhopal, Kanpur, etc.
Commenting on this milestone, Vikaas Gutgutia, Founder and Managing Director, says, “In the past few years, India’s retail journey seemed picture perfect however with global scenarios happy grins were turning into nervous smiles.
Being a homegrown brand we understand India as a market and the fact that consumers embrace brands/products that address lifestyle, aspiration and functional needs. Also we do understand that almost 39% of India’s buying power is in the eight large Tier-I cities therefore the next segmentation had to come from smaller towns. Read more…
Harper’s Bazaar, the world’s oldest fashion magazine with 29 international editions, is introducing its new brand campaign themed ‘Always in fashion’ in India to complement its international signature ‘Where Fashion Gets Personal’. The magazine positioned to appeal to the sensibilities of the sophisticated, elegant and provocative global-Indian rolls out the new brand campaign starting December. The new tag line, ‘Always in Fashion’ is a tri series creative campaign featuring Harpers Bazaar cover shots featuring Sonam Kapoor, Anushka Sharma and Deepika Padukone!
The India Today Group also announced the appointment of new team at Harper’s Bazaar India led by Nishat Fatima as Editor and Ami Patel as Creative Director. Nishat has been part of the launch team of Harper’s BAZAAR India from 2009 to 2010 as Deputy Editor before taking a two-year break to pen a fictional novel. Nishat has studied fashion design and photography. She has 12 year of experience in journalism and has been associated with the introduction of The Times of India in Hyderabad & remodeling HT City with Hindustan Times. She has also written two coffee table books – One on Suneet Varma and another on Mumbai.
The new creative director of Harper’s Bazaar, Ami, has been in the industry for over 12 years. She has extensive experience in all aspects of fashion styling. She moves from L’Officiel, where she has created some of the most iconic covers and fashion stories featuring India’s best-known celebrities. Her experience also spans celebrity styling and image consultancy.
STAR CJ alive is the fastest growing home shopping channel in India as it wins over its 3mn customer. Achieving the 1mn customer mark in January 2012, Star CJ alive has, in less than a year, appealed to a wider audience and won the hearts of 2 more mn loyal shoppers. It can therefore be stated that Star CJ alive is now one of India’s biggest shopping channel, offering a variety of products ranging from fashion, lifestyle, home appliances, kitchenware, digital devices, jewelry, beauty products etc.
Star CJ alive is always a step ahead by providing shoppers the Delight of Smart Shopping. Such loyalty towards this well known shopping channel has been a reflection of the high standard of quality products and delivery that they’ve inculcated through the years. Adding to these would be the exciting deals and offers that they host every month.
With shoppers from all over India, Star CJ alive currently has a massive customer base and they look forward to increasing their fan following with continuous inclusions of premium brands. Their biggest shoppers have been from Ahmadabad, Mumbai, Delhi and Chandigarh where customers have shopped for goods more than 2.5 lacs each. Read more…
Hot Wheels fans in Mumbai experienced the thrill of watching the Hot Wheels Team Xtreme and its Captain, Hrithik Roshan, enter the Guinness Book of World Records by creating the ‘Thrill Machine’ - a one-of-a-kind, colossal, 25+ ft. tall Hot Wheels machine at Oberoi Mall, which brought to life the adventure and excitement of playing with Hot Wheels cars and track sets.
This is the first-time ever that the world’s largest Hot Wheels ‘Thrill Machine’ was unveiled and is available for its fans exclusively at Oberoi Mall. The grand event was a visual delight for kids and parents alike. With over a thousand spectators, the evening saw the ecstatic fans cheering for their favorite superstar and the captain of Hot Wheels Team Xtreme, Hrithik Roshan, who was dressed in the stylish Team Xtreme gear.
Speaking on this occasion Mr. Nirzar Jain, Vice President of Oberoi Mall said, “We are excited to partner with Hot Wheels to create a Guinness World Record at Oberoi mall. It is a pleasure to have Hritik Roshan, the Captain of Team Xtreme, with us to celebrate this historic moment with young fans”
Commenting on the unveiling of the Thrill Machine, Hot Wheels Team Xtreme Captain Hrithik Roshan said, “I am extremely pleased to be a part of this world record-breaking event with Mattel. The awesome Thrill Machine is an immense treat for people of all ages, and as the Captain of Hot Wheels Team Xtreme, I look forward to being a part of even more memorable, action-packed and thrilling vehicle experiences.” Read more…
In one of the most exciting partnerships ever between two worldwide icons, Moët & Chandon is proud to introduce Roger Federer as the House’s new brand ambassador. Roger Federer, with his shining aura of big bold wins and elegant moves, is the absolute perfect match for Moët & Chandon, the universal symbol of global success and eternal style.
Moët and Roger Federer: A natural match that says Style and Success. In his new role as brand ambassador, Federer will take centre stage in the House’s upcoming advertising campaign, certain to generate lots of buzz when it is revealed in March 2013.
“It’s more than just an honour to be Moët & Chandon’s brand ambassador, it’s an invitation to be part of a very glamorous tradition,” enthused Roger Federer. “Moët &Chandon has always been the champagne of international trendsetters and I’m proud to be part of a brand that is as dedicated to the pursuit of excellence as I have been throughout my career.”
“Roger Federer personifies the glamour of achievement, great generosity and tremendous style values that have been key to our House throughout its long history,” declared Stéphane Baschiera, President and CEO of Moët & Chandon. “As the champagne of victory and an enthusiastic supporter of major tennis tournaments around the world, we are extremely proud to welcome Roger Federer with Moët &Chandon’ shall mark hospitality.” Read more…
Following the successful rollout of the ASEAN Trading Link, the CEOs of ASEAN Exchanges announced the schedule for Invest ASEAN 2013 road-show, to promote and create greater awareness of the ASEAN capital market. The announcement was made at the 17th ASEAN Exchanges CEOs meeting hosted by Bursa Malaysia in Kota Kinabalu, Sabah, Malaysia.
Organised in collaboration with local broker partners, Invest ASEAN 2013 underscores the collaborative effort and on-going progress of ASEAN Exchanges towards the development of the ASEAN capital market as a highly investable asset class.
Speaking on behalf of the ASEAN Exchanges CEOs, Dato’ Tajuddin Atan, Chief Executive Officer, Bursa Malaysia said, “Having recently launched the ASEAN Trading Link to facilitate cross border trading, we are now determined to empower investors with keen knowledge and insights of the ASEAN capital market.
“For a borderless ASEAN capital market to thrive, investors need to be able to make informed decisions about ASEAN markets and stocks. Invest ASEAN 2013 is designed to facilitate this with a goal to increase the pool of regional retail investors who are well-versed and familiar with trading ASEAN stocks just as they are trading stocks in their home market”, continued Tajuddin. Read more…
India Infoline Research Team / 14:59, May 20, 2015
GPIL reported 13.5% yoy decline in operating profit as the impact of higher volumes was offset by lower product prices