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Birla to enter retail: Acquires Trinethra

Indiaretailing Bureau
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In a bid to enter the retail industry the AV Birla group is about to acquire the Hyderabad-based supermarket chain Trinethra Super Retail, including its online shopping outfit, Fabmall.

The Trinethra group has about 172 outlets 83 in Andhra Pradesh, 26 in Bangalore and 15 in Chennai. It has annual revenues of about Rs 250 crore. This acquisition will give the AV Birla group foothold in the fast-growing food and grocery market. The company has recently announced its entry in the retail market through Aditya Birla Retail.

Retail is said to the fastest growing sector and has the potential to become a $350 billion sector. Analysts suggest that the Indian food retail sector will grow at the rate of about 32 per cent every year.

Trinethra Super Retail was founded in 1986. It is southern India’s fastest-growing grocery retail chain. It is also know as Fabmall in Kerala and Karnataka it is known as Fabmall. It has more than 2, 500 employees and is mainly focused on groceries

Biyani may sell Planet Retail stake

Indiaretailing Bureau
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Biyani may sell Planet Retail stake

Kishore Biyani, of the Future group is expected to sell a part of his 49 per cent stake in Planet Retail Holdings (PRHL) back to its Indonesian promoter. These reports have been denied by Mr. Biyani, but sources close to the company have confirmed that talks between the two partners to change the structure of the company has been going on for a while. It is said that Mr. Biyani is in preparing to dilute equity in some subsidiary to raise Rs 1, 000 crore, to finance an expansion plan.

PRHL sells many brands in India like Guess, Body Shop, Marks & Spencer, Converse and Speedo. And it is also going to introduce the world’s largest coffee chain Starbucks to India in August.

Reliance starts buying Adani

Indiaretailing Bureau
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Reliance Industries has begun buying the Adani groups’ retail venture. Both the players are tight-lipped about the deal, but sources in the know have said that the deal is in the tune of Rs 200 crore.

The Adani group has 54 outlets spread across Gujarat and sell apparel and groceries. The outlets have stopped sourcing new products from the market and are disposing their existing stock at a quick pace. Reliance industries have already hiring people for this venture and are going to hire only short listed employees from the present Adani staff.

The process and formalities of acquisition are likely to be entirely completed in a couple of months. After this acquisition Reliance will have access to over 54 supermarkets and hypermarkets across nine cities in Gujarat.

Rs 15 bn to be raised by Omaxe IPO

Indiaretailing Bureau
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Rs 15 bn to be raised by Omaxe IPO

On of the biggest real estate firm Omaxe Ltd has filed a red herring prospectus with the regulator for an initial public offering. Sources close to the banker involved in the deal said that this IPO could raise money to the tune of Rs 15 billion ($339 million). Omaxe largely operates in north India

The source said that the company plans to sell up to 11.2 per cent of its equity in the IPO, which will include a green shoe option of 1.75 million shares. Omaxe has registered a net profit of Rs 1.03 billion and operating income of Rs 5.90 billion, in the half year period till September 2006.

New look Barista soon

Indiaretailing Bureau
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A conceptual shift from a café to a lounge will be seen in Barista, starting from this month. Barista outlets across the country will sport a new look. The cafe chain will also to expand Barista Crème, its premium offering.

The company sources say that this is not just an exercise in redecoration, keeping under consideration the age group of our customers and their expectation of comfort and service, this change was needed. The new look Barista will have more couches, warmer colours and the walls inside the café will have contemporary graphics.

This news of revamp comes at a time when big chains like Starbucks are about to enter the Indian market and the reports that Sterling Infotech, the holding company for the Barista coffee company, is on its way to sell a majority stake in the company to a foreign buyer.

MP to have 75 Reliance Fresh stores

Indiaretailing Bureau
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MP to have 75 Reliance Fresh stores

Reliance Fresh, has planned to open around 75 Fresh outlets in Madhya Pradesh from April 2007. This was confirmed by the Madhya Pradesh’s Industries Minister Mr. Babulal Gaur.

Under the first phase these stores would open in cities like Indore, Gwalior Jabalpur and Bhopal, he told reporters, Mr. Gaur said.

This move is expected to help the farmers as they would be able to sell their produce directly to Reliance. This will help the farmers to save on transportation expenses. Besides this, Reliance would also provide farmers with valuable tips on new techniques of framing.

Videocon and Infiniti Retail in sourcing agreement

Indiaretailing Bureau
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Videocon and Infiniti Retail in sourcing agreement

Infiniti Retail, Tata group’s consumer durable retail venture, has signed a sourcing agreement with consumer electronics major Videocon for its planned private labels.

Venugopal Dhoot, Videocon Industries chairman and managing director has confirmed this and said that we have signed an agreement with Tatas to supply them consumer electronics for their private labels. This agreement is similar to the ones that Videocon had signed with Pantaloon and Reliance.

Conversely, Ajit Joshi, Infiniti Retail CEO has denied the development and said that there has been no alliance with Videocon. At present Infiniti has no private labels and until it builds sizable mass, it won’t introduce them.
According to the said agreement, Videocon would supply a range of goods to Infiniti’s Croma stores, including colour televisions, air conditioners, washing machines and DVD players, which will be sold under the Tatas’ private label.

Infiniti Retail has a technical and sourcing agreement with Australian retailer Woolworths under which it will own and run the retail operations in India, while Woolworths will provide technical support and strategic sourcing facilities from its global network. Videocon has similar arrangements to supply consumer electronic goods to Reliance and Pantaloon for retailers’ private label businesses.

Daewoo Creditors may stall Videocons bid

Indiaretailing Bureau
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Daewoo Creditors may stall Videocons bid

The much publicize $730 million acquisition by Videocon-led consortium of Daewoo Electronics may end in the bin if creditors of the ailing Korean company reject a price cut demand by the proposed buyers.

Videocon-led consortium which also includes US-based equity firm Ripplewood, insist on a price cut of up to 13 per cent after conducting due diligence of Daewoo, sources in the know said that the creditors’ would take a call next week. If the creditors do not agree to the price cut, the process for sale of the company would start anew.

The officials of Videocon didn’t make any comment regarding the price cut, as well as on the issue of resistance by the creditors led by Woori Bank. Woori Bank has been running the company since the Daewoo conglomerate collapsed under $80 billion debt in 1999. It is believed that unless more than 75 per cent of the creditors agree to the proposal, the deal would be cancelled.

Carrefour to partner with Wadia Group

Indiaretailing Bureau
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Carrefour is likely to make its entry into the Indian retail scene through JV with Nusli Wadia group. For Carrefour, this would be a strategic entry, as the company expects to get better exposure into the Indian market, as is in the case of Bharti-Wal Mart JV.

Over a century old history in textile manufacturing, the Wadia group’s interests have diversified into food, chemicals, aviation, healthcare and electronics. Industry sources inform that with its existing potential, the Wadia group provides a proper platform for Carrefour’s India foray.

For some now, Carrefour was looking to enter India through JV with local Indian companies. The company was earlier in talks with Dubai-based Landmark group, owners of Lifestyle departmental stores, and Bharti Enterprises

‘Electronics Festive Bonanza ‘ at all E-Zone stores

Indiaretailing Bureau
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‘Electronics Festive Bonanza ‘ at all E-Zone stores

Home Solutions Retail (India) Ltd., part of the Future Group, has announced the first-of-its-kind ‘Electronics December Dhoom’ shopping bonanza at all E-Zone electronics specialty stores between December 23 and 31, 2006. Between Christmas and New Year, every E-Zone store, which showcases a wide range of consumer electronic products, will offer a confirmed gift with every purchase. There will be attractive lucky draws with mega prizes worth Rs. 1.5 crore to be won. The bumper prize entails a Mercedes car.

Mr. Manoj Kumar, Head — Consumer Durable & Electronics, Home Solutions Retail (India) Ltd., said, “The year-end period is a mega shopping occasion and synonymous with ‘never-before’ deals and enthusiastic crowds. In lieu of the tremendous anticipation amongst customers, every E-Zone will give them a golden opportunity to buy the latest electronics products coupled with exciting offers. Being the leaders and pioneers, we wish to successfully create this novel concept of ‘Big Days for Electronics Shopping’.”

E-Zone provides a complete shopping experience through ‘Touch ‘n’ Feel’ for customers seeking to buy new products or upgrade their existing ones

At the store, a customer gets to choose from a range of products of different brands under one roof catering to needs across all ages. It has three dedicated zones — the liberation zone, the experience zone and the home zone to meet the electronic needs of the entire family.

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