Future Value Retail :A fancy name for Big Bazaar and Food Bazaar

Big Bazaar and Food Bazaar = Future Value Retail..

Finally the decision has come from Future Group MD , Mr. Kishore Biyani this week. All pantaloons employees were shot a mail about this stating the changes from 1st of January.
According to me these changes have made to focus more on their target customer . I think it is a smart move as it will help building a strong brand name in mind of customers and they also will be able to relate the stores with them. As Wal-Mart has already began its operations in India and in expanding mode , it is crucial to be very clear for PRIL on its branding strategies.
Currently there are around 120 Big Bazaar and Food Bazaar stores across India and company is planning to make it to 140 in 4 to 5 years of span.
They also have come out with a decision to limit their KB's Fair Shop format to Mumbai , Delhi and Bangalore. Company has the plan to open 1200 stores and want to be penetrated across these cities.

India all set to become next luxury retail destination

International luxury goods makers are planning to foray into India in a big way,
perceiving the country as a major “retail destination” of top- end products.

“India is becoming the beacon of the future,” said Tikka Shatrujit Singh, advisor
to the chairman of Louis Vuitton company, a French leather and fashion
brand, that is set to expand its footprint in the country.

An environment has now been created for consumption of high-end luxury
goods and services, UB Global CEO Shashikanth said, which is all set to roll
out a luxury retail project, UB City-Collection, in first quarter of next year.

“The group had already signed up 10 international brands including names
like Dunhil Gucci, Mont Blanc, Van CLeef, Arpels, Zegna and would bring
in 12 others, Shashikanth added.

The luxury retail market which is currently in its nascent stage was roughly
estimated to be around Rs1,500 crore and expected to grow at 20% in
next five years.

The booming stock market and the recent news that India’s leading
industrialist, Mukesh Ambani, had even overtaken Bill Gates, to become
the richest person in the world, is an indication that the country was ready
for that ultimate ‘haute couture´ experience, Vivek Kaul, Retail and
Leisure Advisory of Jones Lang LaSalle retail advisory service, said.

“Indians have become global,” he said adding that the growing exposure
to international brands had changed the dice in favour of the luxury
retail segment.

The luxury retail market is all set to evolve in a major way. In the
beginning the consumer might go in for small things like a cufflink,
a purse, but you will soon see the consumer graduating to more high
end products and services, Vivek said.

The advent of ‘aspirational shoppers’ is expected to add a thrust to
this emerging segment.

These young shoppers who aspired to acquire a lifestyle that was
international and the best that the market offers, is what was going
to take this segment to the next level of growth, he added.

“It is not merely all about ‘I have arrived syndrome’. It is also
realising that the reputed brands bring along with world class
quality and were not beyond one’s reach,” he said.

India, one of the country with the fastest growing high net worth
individuals in the Asia-Pacific region, is being perceived now as
the next hub of luxury goods consumption, he said.

Mallya enters retail, ropes in Louis Vuitton

Mallya’s UB Group will hold a 55% stake in UB City -
the Collection, a Bangalore shopping mall exclusively
retailing luxury brands


After starting a premium airline and buying one of the world’s oldest
scotch-whisky makers, flamboyant Indian tycoon Vijay Mallya announced
on 6 November a new venture in high-end retail.

Mallya’s UB Group, the world’s third-largest maker of alcoholic spirits,
will hold a 55% stake in UB City - the Collection, a Bangalore shopping mall
exclusively retailing luxury brands, the company said on 6 November.

Mallya, 51, the self-styled “king of good times,” managed to rope in France’s
Louis Vuitton as one of the anchor tenants of the mall, to be located on No. 1,
Vittal Mallya Road, named after his late father and due to open in early 2008.

“It has been purely driven by the vision of Mallya, who calls it a value
proposition,” said Irfan Razack, chairman and managing director of the
property group Prestige, which will hold the remaining 45% stake in
the venture.

“It will be an iconic landmark of Bangalore -- like what the Petronas
Towers is to Kuala Lumpur,” said Razack, estimating the cost of the
project at Rs300 crore ($76.26 million). “It will be an opportunity to
tap high networth individuals.”

Other brands who have signed on for space in the 1.5 million square
feet complex are Gucci, Fendi, Mont Blanc, Van Cleef & Arpels, Zegna,
Rolex and Omega.

The Venetian-style project will include a 250-room JW Marriot hotel,
serviced apartments and office space, already leased to Citigroup,
Toyota, ABN Amro, Jones Lang LaSalle, 3M, Ernst and Young and Yahoo!.

Mallya this year splurged 595 million pounds (869 million euros, $1.181
billion) to buy Whyte and Mackay, a 163-year-old scotch whisky maker,
two years after starting an airline named after his flagship beer, Kingfisher.

Introduction

I made this blog for discussion on current retail. As we all know that the word retail is originally come from the word Retailia which is a french word. So i decided to give the same name to this blog.

In India organized retail has started to flourish.With the entrance of companies like walmart will definetly boost up the Indian retail Market. India is a country which is dominated by the small unorganized retail stores. And what i think that Indian customers having a myth that the organized retail sell the goods in a much higher rate than the unorgainzed sector. Well if walmart want to be successful in india , first of all it must break this myth.
There is no lack of potential in India. And especially when the organised retail is only 3.5 % in the country , there is an open invitation to the retail giants to come and get set in such a huge market,,,,