Posted: 2009-02-04 16:51:54+05:30 IST
Vision Express, the joint venture between Reliance Retail and Dutch optical retailer Pearle Europe, plans to open 500 eyewear outlets across the country by 2015 as it aims to be a leading player in the estimated 900-million dollar Indian optical eyewear market.
"We formalised our JV in July last year and started our retail operations in December. We are now looking at rolling out aggressively across India and have at least 500 outlets by 2015," Vision Express Head (Marketing and Operations) Gijsbert Ackermans said.
The firm has already opened eight outlets in Bangalore, Mysore, Hyderabad, Pune and Delhi in the last two months.
Ackermans, however, refused to share investment plans for the expansion or targeted sales turnover.
"We are willing to tap the entire metro, Tier I and II markets and our aim is to be among the top few players in the Indian optical eyewear market by the end of 2011," Ackermans said.
The Indian eyewear market is estimated to be around 900 million dollar and the share of organised retailers in it is still minuscule, he said, adding at least 30 per cent of Indians need eyewear providing huge potential.
Vision Express is touting itself as a 'value for money' player with sunglasses, contact lenses and frames offered at a price range of Rs 250-15,000.
Thursday, February 5, 2009
Tuesday, February 3, 2009
Retail food biz in India to grow by 400%: Govt
The Indian food retail industry is expected to grow by over four hundred per cent in next five years, and share of global trade in the sector has been projected to double by 2015, a Government official said.
"Food in grocery sector is about 154 billion USD which is 77 per cent of total retail sales. two-third of the food is in retail grocery, and the organised Indian food retail is just three per cent at 7 billion USD which is expected to grow by 400 per cent in next five years," Joint Secretary, Ministry of Food Processing India, Ajit Kumar said.
Kumar was speaking at the 5th annual Agri Business Summit organised at the Indian Institute of Management (IIM) Ahmedabad.
Highlighting the estimated growth projection targets set by the Union Government, Kumar said the retail food industry is going to be at 20 billion USD by 2010 against the present 7 billion USD.
"We will have tremendous growth in food processing sector by 2015, increasing the level of processing of perishable from six per cent to 20 per cent, value addition which is only 20 per cent now to 35 per cent and share of our global food trade of 1.5 per cent to double by 3 per cent by 2015," Kumar said.
According to Kumar, government has taken several steps for promotion of food processing industry, including tax holidays and permission for repatriation of profits.
"The 100 per cent EOU units in SEZ can retain 50 per cent of the foreign exchange reciepts in foreign currency accounts, these are huge incentives for them," Kumar said.(2009-01-17)
"Food in grocery sector is about 154 billion USD which is 77 per cent of total retail sales. two-third of the food is in retail grocery, and the organised Indian food retail is just three per cent at 7 billion USD which is expected to grow by 400 per cent in next five years," Joint Secretary, Ministry of Food Processing India, Ajit Kumar said.
Kumar was speaking at the 5th annual Agri Business Summit organised at the Indian Institute of Management (IIM) Ahmedabad.
Highlighting the estimated growth projection targets set by the Union Government, Kumar said the retail food industry is going to be at 20 billion USD by 2010 against the present 7 billion USD.
"We will have tremendous growth in food processing sector by 2015, increasing the level of processing of perishable from six per cent to 20 per cent, value addition which is only 20 per cent now to 35 per cent and share of our global food trade of 1.5 per cent to double by 3 per cent by 2015," Kumar said.
According to Kumar, government has taken several steps for promotion of food processing industry, including tax holidays and permission for repatriation of profits.
"The 100 per cent EOU units in SEZ can retain 50 per cent of the foreign exchange reciepts in foreign currency accounts, these are huge incentives for them," Kumar said.(2009-01-17)
Bharti Retail's Easy Day Market TM
Bharti Retail, the retail arm of telecom behemoth Bharti Enterprises, which currently operates 17 neighbourhood supermarket format stores across Punjanb and Haryana in North India under the brand name of ‘Easyday’ has forayed into hypermarket segment with the launch of its first store under the new format in Ludhiana. Interestingly, Easyday neighbourhood chain was also launched from the owners’ hometown of Ludhiana.
As against the average size of 3,000 +/- 1,000 sq ft for its supermarket chain Easyday, the new mid-format chain called ‘Easyday market TM’ occupies around 25,000 sq ft of trading space.
The new compact hypermarket format chain, according to a company statement, will carry a wide range of daily need and household products including, apparels for men, women and kids, home furnishings, home ware, cosmetics, a wide range of kids toys, small appliances, mobile phones and stationery, bakery, meat, poultry and fish, fruits and vegetables, grocery and general merchandise.“Our consumers desire everything that is available across different markets, to be under one roof and also want everything to be available at the best price every day. This is exactly what Easyday market TM promises to deliver,” said Vinod Sawhny President and COO Bharti Retail, on the occassion.
As against the average size of 3,000 +/- 1,000 sq ft for its supermarket chain Easyday, the new mid-format chain called ‘Easyday market TM’ occupies around 25,000 sq ft of trading space.
The new compact hypermarket format chain, according to a company statement, will carry a wide range of daily need and household products including, apparels for men, women and kids, home furnishings, home ware, cosmetics, a wide range of kids toys, small appliances, mobile phones and stationery, bakery, meat, poultry and fish, fruits and vegetables, grocery and general merchandise.“Our consumers desire everything that is available across different markets, to be under one roof and also want everything to be available at the best price every day. This is exactly what Easyday market TM promises to deliver,” said Vinod Sawhny President and COO Bharti Retail, on the occassion.
Bharti Retail, the retail arm of telecom behemoth Bharti Enterprises, which currently operates 17 neighbourhood supermarket format stores across Punjanb and Haryana in North India under the brand name of ‘Easyday’ has forayed into hypermarket segment with the launch of its first store under the new format in Ludhiana. Interestingly, Easyday neighbourhood chain was also launched from the owners’ hometown of Ludhiana.
As against the average size of 3,000 +/- 1,000 sq ft for its supermarket chain Easyday, the new mid-format chain called ‘Easyday market TM’ occupies around 25,000 sq ft of trading space.
The new compact hypermarket format chain, according to a company statement, will carry a wide range of daily need and household products including, apparels for men, women and kids, home furnishings, home ware, cosmetics, a wide range of kids toys, small appliances, mobile phones and stationery, bakery, meat, poultry and fish, fruits and vegetables, grocery and general merchandise.“Our consumers desire everything that is available across different markets, to be under one roof and also want everything to be available at the best price every day. This is exactly what Easyday market TM promises to deliver,” said Vinod Sawhny President and COO Bharti Retail, on the occassion.
As against the average size of 3,000 +/- 1,000 sq ft for its supermarket chain Easyday, the new mid-format chain called ‘Easyday market TM’ occupies around 25,000 sq ft of trading space.
The new compact hypermarket format chain, according to a company statement, will carry a wide range of daily need and household products including, apparels for men, women and kids, home furnishings, home ware, cosmetics, a wide range of kids toys, small appliances, mobile phones and stationery, bakery, meat, poultry and fish, fruits and vegetables, grocery and general merchandise.“Our consumers desire everything that is available across different markets, to be under one roof and also want everything to be available at the best price every day. This is exactly what Easyday market TM promises to deliver,” said Vinod Sawhny President and COO Bharti Retail, on the occassion.
Pantaloons
Pantaloon(part of Kishore Biyani-led Future group)operate over 1,000 multi-format stores both lifestyle and value segments across 63 cities in India. The group occupies over 11 million square feet of retail space and has employed over 30,000 people to manage its operations.
Shopping Festivals
Shopping festivals offered to shoppers by likes of retailers, as Future Group offered "The Great Indian Shopping Festival", "Sabse saste teen din".
Going by customers point of view, they want these festivals to continue for longer period of time, so, are the retailers ready for this?
"The Great Indian Shopping Festival" started in the month of Dec,2008 to Jan, 2009, Future Group has earned around Rs.700 Cr.
Which again supported by another 'Sabse Saste Teen Din' from 24 Jan to 26 Jan, 2009. Future Group practiced this one three years in a row and were successful.
Going by customers point of view, they want these festivals to continue for longer period of time, so, are the retailers ready for this?
"The Great Indian Shopping Festival" started in the month of Dec,2008 to Jan, 2009, Future Group has earned around Rs.700 Cr.
Which again supported by another 'Sabse Saste Teen Din' from 24 Jan to 26 Jan, 2009. Future Group practiced this one three years in a row and were successful.
Little things matter a lot
In Retailing, little things matter to the extent that one can't wait to see it affecting their business. Shoppers visit retail outlets like, Big Bazaar, Reliance Mart just to get products on fair prices(value for money). what matters for a consumer matters to retailers too-
1. Sales person
2. cleanliness within store
3. variety in product choice
4. product placement(presentation)
Retailers are making efforts to bring customers to their stores, so is it feasible to let customers go unsatisfied.
1. Sales person
2. cleanliness within store
3. variety in product choice
4. product placement(presentation)
Retailers are making efforts to bring customers to their stores, so is it feasible to let customers go unsatisfied.
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