Dec 22, 2009
South Africa's premium cocktail-bar chain News Cafe has announced plans to invest up to Rs 100 crore over the next five years to expand operations in India. The company, which ventured into India last week under a master franchise agreement with Hyderabad-based Numbersonly Hospitality, plans to open 20 outlets across India in the next five years.
"We have just opened our first Indian restaurant at Delhi, which also marks our first foray outside the African continent. We will open four more cafes in India in 2010 and our plan is to have a total of 20 restaurants within five years," said Alan van der Westhuizen, general manager (restaurant division), News Cafe.
On investment plans for the Indian market, Westhuizen said: "Our expansion will entail an investment of up to Rs 100 crore over next five years. Setting up the first restaurant in Delhi has cost us around Rs 3.6 crore."
Westhuizen said the investment will mostly come from the franchise operator, Numbersonly Hospitality, adding franchise arrangement could be extended for other South Asian countries and Mauritius in the future.
Bullish on the Indian market, Westhuizen said News Cafe expects a revenue of around Rs 50 lakh per month from each of its cafes.
"Our idea is to promote the cocktail culture in India. However, to suit the Indian market we have indigenised about 30 per cent of our menu," said Westhuizen.
The $40 million News Cafe currently operates 47 restaurants in South Africa, Botswana and Nigeria.
"Our next cafes will come up in Hyderabad and Mumbai and then we will open restaurants in other cities. Our main target is the corporate customer," Westhuizen added.
Westhuizen said the company's restaurants will have a size of 3,500-6,000 sq ft with indoor and outdoor seating arrangements.
Source: http://www.franchise-plus.com/Fullstory.asp?news_id=3470&cat_id=1
Wednesday, December 23, 2009
Monday, December 21, 2009
Indian retail sector to be $410-bn by fiscal-end: Assocham
NEW DELHI: The Indian retail market is expected to reach $410 billion by the end of the current fiscal, according to the Associated Chambers of Commerce and Industry of India (Assocham).
Another report on India’s retail market released here late last month had made similar projections, saying the sector was expected to reach $535 billion by 2013.
“With anticipated $30 billion fresh investment over the next five years, modern retail will show impressive compound annual growth rate of 40 percent,” said the Fashion and Lifestyle Franchise Report 2009-10.
“With this growth rate, the market is expected to reach $535 billion by 2013,” added the report compiled by Franchise India Holding Ltd, a franchise solutions provider.
As per the Assocham study released on Monday, the retail sector is estimated to grow 5.5 per cent to become $410 billion market by April 2010, registering growths of more than 22 per cent and 30 per cent in the third and fourth quarters this fiscal.
The study noted that the share of retail trade in the country’s gross domestic product (GDP) was between 8-10 per cent in 2007.
With strides of development in the organized retail segment, its share has now risen to 12 per cent, Assocham said.
Also, organised retail, which currently accounts for nearly five per cent of the retail market, is pegged at around $9.23 billion and was expected to grow at 2.3 per cent to touch $13 billion by the end of this financial year.
“Retail sector is witnessing exponential growth with development taking place not only in major cities and metros but even in tier-II and tier-III cities in India,” said Assocham president Swati Piramal in a statement.
Source: http://retail-guru.com/indian-retail-sector-to-be-410-bn-by-fiscal-end-assocham/
Another report on India’s retail market released here late last month had made similar projections, saying the sector was expected to reach $535 billion by 2013.
“With anticipated $30 billion fresh investment over the next five years, modern retail will show impressive compound annual growth rate of 40 percent,” said the Fashion and Lifestyle Franchise Report 2009-10.
“With this growth rate, the market is expected to reach $535 billion by 2013,” added the report compiled by Franchise India Holding Ltd, a franchise solutions provider.
As per the Assocham study released on Monday, the retail sector is estimated to grow 5.5 per cent to become $410 billion market by April 2010, registering growths of more than 22 per cent and 30 per cent in the third and fourth quarters this fiscal.
The study noted that the share of retail trade in the country’s gross domestic product (GDP) was between 8-10 per cent in 2007.
With strides of development in the organized retail segment, its share has now risen to 12 per cent, Assocham said.
Also, organised retail, which currently accounts for nearly five per cent of the retail market, is pegged at around $9.23 billion and was expected to grow at 2.3 per cent to touch $13 billion by the end of this financial year.
“Retail sector is witnessing exponential growth with development taking place not only in major cities and metros but even in tier-II and tier-III cities in India,” said Assocham president Swati Piramal in a statement.
Source: http://retail-guru.com/indian-retail-sector-to-be-410-bn-by-fiscal-end-assocham/
Marks & Spencer to scale up India operations
British retail major Marks & Spencer is looking at scaling up its India operations and plans to open at least 50 more outlets in the country over the next few years.
The company, which is present in India through a joint venture (JV) with Reliance Retail, is also looking at increasing its product range in the country.
“We currently have 14 stores across seven cities in India and further plans to open at least 50 new stores in India over the next few years,” Marks & Spencer Reliance India Pvt Ltd Head of Marketing Nandini Sethuraman said in an e-mailed response to PTI.
“Marks & Spencer believes India offers significant expansion opportunities and the potential is huge with a wider range of products, bigger M&S stores and a better brand experience overall,” she added.
Sethuraman said the initial investment in the JV was of 29 million pound (around Rs 220 crore) and both the partners may put in more money in future.
“The total value of the initial investment into the JV will be up to 29 million pound sterling, wherein M&S invested up to 14.79 pound sterling and Reliance Retail invested up to 14.21 pound sterling. Both parties will provide further funding in the near future,” she said, without giving more details.
Source: http://retail-guru.com/marks-spencer-to-scale-up-india-operations/
The company, which is present in India through a joint venture (JV) with Reliance Retail, is also looking at increasing its product range in the country.
“We currently have 14 stores across seven cities in India and further plans to open at least 50 new stores in India over the next few years,” Marks & Spencer Reliance India Pvt Ltd Head of Marketing Nandini Sethuraman said in an e-mailed response to PTI.
“Marks & Spencer believes India offers significant expansion opportunities and the potential is huge with a wider range of products, bigger M&S stores and a better brand experience overall,” she added.
Sethuraman said the initial investment in the JV was of 29 million pound (around Rs 220 crore) and both the partners may put in more money in future.
“The total value of the initial investment into the JV will be up to 29 million pound sterling, wherein M&S invested up to 14.79 pound sterling and Reliance Retail invested up to 14.21 pound sterling. Both parties will provide further funding in the near future,” she said, without giving more details.
Source: http://retail-guru.com/marks-spencer-to-scale-up-india-operations/
Rosebys plans 500-700 stores over next 5 yrs
Mumbai: In a mega-expansion spree, Dalmia group’s home decor retail chain, Rosebys, plans to rollout 500-700-stores across the country over the next 3-5 years.
The UK store, which was acquired by Sanjay Dalmia-led Gujarat Heavy Chemicals Limited in 2006, presently operates 70 outlets in the country.
“We will have a total of 125-stores by March-2010. On a broader horizon, we plan to open between 500-700-stores over the next 3-5-years,” Rosebys Interiors India, Director, Nikhil Sen, said.
He said the company would set up at least 30 franchise stores, on 700 to 2,000 sq ft of area, by December-end.
The retailer already has a footprint through franchisees in cities like Mumbai, Delhi and NCR (National Capital Region), Kolkata, Hyderabad, Hubli, Vizag, Jamshedpur and some towns in Punjab, Haryana and Tamil Nadu.
“We are predominantly a franchise chain. At best, we will have 5 per cent stores as company-owned,” Sen said, adding the franchise model of expansion suited them best.
Rosebys had last year toyed with the idea of expanding into markets like Romania, Poland and Vietnam.
“We are talking with some potential partners. Nothing is decided and we will take it as it comes,” Sen said.
Rosebys had a turnover of Rs 81-crore in fiscal 2009 and is targeting a Rs 85-90 crore annual turnover this year.
Posted by Retail News From Financial Express on October 19, 2009
The UK store, which was acquired by Sanjay Dalmia-led Gujarat Heavy Chemicals Limited in 2006, presently operates 70 outlets in the country.
“We will have a total of 125-stores by March-2010. On a broader horizon, we plan to open between 500-700-stores over the next 3-5-years,” Rosebys Interiors India, Director, Nikhil Sen, said.
He said the company would set up at least 30 franchise stores, on 700 to 2,000 sq ft of area, by December-end.
The retailer already has a footprint through franchisees in cities like Mumbai, Delhi and NCR (National Capital Region), Kolkata, Hyderabad, Hubli, Vizag, Jamshedpur and some towns in Punjab, Haryana and Tamil Nadu.
“We are predominantly a franchise chain. At best, we will have 5 per cent stores as company-owned,” Sen said, adding the franchise model of expansion suited them best.
Rosebys had last year toyed with the idea of expanding into markets like Romania, Poland and Vietnam.
“We are talking with some potential partners. Nothing is decided and we will take it as it comes,” Sen said.
Rosebys had a turnover of Rs 81-crore in fiscal 2009 and is targeting a Rs 85-90 crore annual turnover this year.
Posted by Retail News From Financial Express on October 19, 2009
Shopper’s Stop will invest Rs 350 cr in 5 yrs
Shoppers stop which has 28 stores in 12 cities with an operational area of 1.88 million sq.ft, plans to invest Rs 350 crores to set up an additional 32 stores and augment its pan India network. The company is expected to take up the total store count to 60 in the next five years.
The new stores will open at Mysore, Mangalore, Aurangabad, Ahmedabad, Amritsar, Chandigarh and other Tier 2 cities. An additional Rs 150 crore has been earmarked to add 14 stores.
“We have drawn up investment plans of Rs 200 crore for adding 18 new stores with approximately 3 million sq.ft in the next three years”, said Govind Shrikhande, President & CEO of Shopper’s Stop.
The company, launched Europe’s first denim brand, Mustang in the city, plans to introduce more foreign brands in the near future, the official said.
On its private labels business, Shrikhande said that its contribution to the company’s sales this year fell to 17 per cent against 20 per cent in the last year.
Posted by Retail News From Financial Express on December 17, 2009
The new stores will open at Mysore, Mangalore, Aurangabad, Ahmedabad, Amritsar, Chandigarh and other Tier 2 cities. An additional Rs 150 crore has been earmarked to add 14 stores.
“We have drawn up investment plans of Rs 200 crore for adding 18 new stores with approximately 3 million sq.ft in the next three years”, said Govind Shrikhande, President & CEO of Shopper’s Stop.
The company, launched Europe’s first denim brand, Mustang in the city, plans to introduce more foreign brands in the near future, the official said.
On its private labels business, Shrikhande said that its contribution to the company’s sales this year fell to 17 per cent against 20 per cent in the last year.
Posted by Retail News From Financial Express on December 17, 2009
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