Britain-based Truefitt & Hill, one the oldest barber shops in the world, opened its first door in India here with a promise to “introduce a new level of indulgence for the metrosexual man.” An Indian firm Lloyds Luxuries, owned by 21-year-old Krishna Gupta, has won the master franchise to start its salons in India and sell grooming products in neighboring countries such as Sri Lanka, Bhutan, Myanmar, Vietnam, Bangladesh and Nepal. Lloyds has hired Istayak Ansari, former chief executive of Gold’s Gym chain, as its managing director and partner.
“We will have a price of Rs 1,200 for a 30-minute hair cut and shave, and up to Rs 6,000 in our VIP lounge under a royal package,” Gupta said. “We will add three more salons by 2015.” The company has entered into a 10-year agreement with the London chain with the option to extend it for another 10 years. “Our plan is to build salons by 2024, half of them owned and the rest sub-franchised,” Gupta said. Its first store in India has opened at Khar, Linking Road in Mumbai in June.
July 12, 2014 No Comments
Europe’s fourth-biggest retailer, Metro AG, said it wants India to become one of its “focus expansion countries”, alongside Russia, China and Turkey. “We have seen continuous like-for-like growth recently in India. Now we decide to inject extra momentum into our expansion course there,” Metro CEO Olaf Koch confirmed.
The company is planning to have 50 wholesale stores in the country by 2020, up from 16 now. Metro has been active in India with its cash-and-carry business since 2003 and is one of the few foreign retailers operating in the country. Besides stores in major cities such as Delhi, Bangalore, Mumbai and Kolkatta, the company has chosen a regional expansion to Tier 2 cities such as Indore, Jaipur and Vijaywada. It has also built up a geographic focus in one state, Punjab, with stores in Amritsar, Chandigarh, Jalandhar and Ludhiana.
In 2012, the Indian government gave foreign supermarket chains the green light to enter its $500 billion retail sector. Full foreign ownership of supermarkets that sell directly to consumers is restricted. Metro sells goods to small shopkeepers, which dominate India retail market.
May 5, 2014 No Comments
Further developing its capabilities in India, Covidien PLC has opened a training and education center in India. Quoted in MarketNews Brian D. King, President Emerging Markets said “The Covidien Center of Innovation India in Mumbai offers clinicians training on advanced procedures and techniques using leading equipment and technology.
The top three priorities will be procedures to address vascular disease, metabolic disorders (obesity and Type II diabetes) and cancer. Mark Rooney, Managing Director, India Subcontinent, Covidien, said, “Chronic diseases contribute to over half of Indian deaths. Cardiovascular disease, dyslipidemia and many types of cancers are highly prevalent in urban and rural areas. The India center will have the capacity to train more than 5,000 healthcare professionals annually
Covidien has an important and growing presence in India with offices in Gurgaon, Mumbai, Chennai, Kolkata and Hyderabad. The company has more than 400 employees in India with a network of distributors and partner hospitals across the country. In 2012, Covidien opened the Covidien India Engineering Center, in Hyderabad. (Full Disclosure: The company is an Amritt client. This article is derived exclusively from public sources).
April 30, 2014 No Comments
Amazon India has launched a pilot program to test in-store pick up service in India’s two largest cities.
In Mumbai and Delhi, the company has partnered with state-owned oil marketing firm Bharat Petroleum. BPCL operates a retail chain known as In&Out at some of its gasoline stations across the country. It is through some of these In&Out stores that customers are allowed to pick up their packages.
It has 23 outlets around Delhi and eight stores in Mumbai, but the in-store pick up service is currently only available in six stores in Delhi and four stores in Mumbai. Overall, BPCL had 320 such stores in 100 cities across India in 2011 and has arrangements with Western Union, Cafe Coffee Day and E-charge for mobile and DTH recharges at these stores.
March 29, 2014 No Comments
While acknowledging the need to remove trade barriers on both side, American Vice President Joe Biden celebrated the rising bilateral trade between India and the United States.
Speaking at the Bombay Stock Exchange in Mumbai last week, he told business leaders, “Our bilateral trade has increased fivefold to $100 billion over the past thirteen years. We see tremendous opportunities (in India) and there is no reason that if our two countries make the right choices, trade cannot grow fivefold or more,” according to the Atlantic Sentinel.
Biden also stated that India has the full support of the United States for securing a seat on the United Nations Security Council and that Indian prime minister Dr. Man Mohan Singh has been invited to the White House to meet with President Barack Obama at the end of September to discuss this particular topic, on top of other trade related issues.
July 31, 2013 No Comments