All India articles – Page 6
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News
Walmart takes action over corruption probe
Walmart has suspended several associates of its joint venture company Bharti Walmart as part of an ongoing corruption probe.Walmart has not disclosed the nature of its inquiry or the specific allegations it is looking into.
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Flipkart adds one-click payment service to website
Etailer Flipkart has added a ‘Save Cards’ feature to its website, allowing customers to check out with a one-click payment. It has been reported that the retailer has built its own payment gateway to store card details, allowing Flipkart increased control over the user experience. The new one-click system will ...
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News
Walmart to team up with small and mid-level Indian suppliers
Walmart plans to team up with small and mid-level suppliers in India on sourcing various product categories.The partnership arrangement will enable the retailer to create private labels that will be priced as much as 10% to 15% lower than established brands. Private labels are already being sold in its BestPrice ...
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NewsIndian foreign investment law relaxation opens the door for Tesco
A relaxation of the laws on foreign direct investment (FDI) in India has opened the door for Tesco to trade under its own brand in the country for the first time.
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Gap plans to enter Indian market
Gap is conducting market research as part of a plan to open a retail business in India.Details such as how many stores will open and how much Gap may invest are likely to be decided early next year.Gap spokeswoman Edie Kissko said: “India is one of the markets that we ...
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Migros to open New Delhi office
Migros is to open an office in New Delhi to source Indian goods without intermediaries.The initiative is in line with Migros founder Gottlieb Duttweiler’s belief in cutting out intermediaries in favour of lower selling prices.Migros has had its own procurement offices in Hong Kong and Shanghai since 1995, as well ...
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AnalysisInternational analysis: Auchan signs franchise deal to power growth in India
French grocer Auchan has signed a franchise agreement with Landmark Group (India)-owned Max Hypermarkets to develop hypermarkets in India.
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Amazon launches Indian Kindle Store
Amazon has launched an Indian Kindle Store on Amazon.com. The India Kindle Store offers more than 1 million books, now priced in Indian rupees, including 70 of 100 Nielsen Bestsellers. Customers can now purchase the Kindle ereader at Croma stores across India.Amazon vice-president of Kindle Content Russ Grandinetti said: “We ...
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News
Net sales increase for Pantaloon Retail
Future Group-owned Pantaloon Retail’s full-year net sales for the core retail business rose by 7% to INR117.9bn (£1.36bn), compared with INR110.1bn (£1.27bn) last year. Net profit grew to INR2.85bn (£33m) compared with INR766.7m (£8.81m).The retailer added 2.37 million sq ft in the year, taking its total retail space to 16.71 ...
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News
Inditex’s joint venture with Tata Group deferred
Inditex’s proposal for a joint venture with Tata Group for its brand Massimo Dutti was deferred by the Foreign Investment Promotion Board (FIPB), the authority that clears foreign investment in India.The FIPB said the investment was not being made by Inditex but by its 100%-owned subsidiary Zara Holdings BV, which ...
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News
Future Group to sell stake in Future Capital Holdings
Multi-format retailer Future Group is to sell its stake in Future Capital Holdings (FCH) to private equity firm Warburg Pincus. As part of the transaction, Pantaloon Retail and its subsidiary Future Value Retail will sell their stake in FCH to Cloverdell Investment Limited, an affiliate of Warburg Pincus.V Vaidyanathan, vice-chairman ...
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News
Bharti Walmart to open Best Price Modern Wholesale store
Walmart’s joint venture Bharti Walmart is to enter Gujarat with a 50,000 sq ft Best Price Modern Wholesale store, to open later this year.The retailer said: “We plan to open 12 to 15 Best Price Modern Wholesale stores in 2012, mainly in south and west India.” It also plans a ...
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News
Spar International’s partnership with Max Hypermarkets to end
Spar International’s partnership with Landmark Group’s Max Hypermarkets is to come to an end in December. Both companies are to pursue separate strategies to expand their retail presence across the country.A Spar spokesman said: “Spar now wishes to extend its footprint nationwide through new partnership arrangements with a range of ...
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Walmart’s global ecommerce division to double hiring target in India
Walmart’s global ecommerce division is doubling its hiring target in India to 200 employees to revamp the retailer’s ecommerce platform. Over the last five months, @WalmartLabs – which operates under Walmart’s global ecommerce unit – has been building Indian operations with a focus on social and digital technology. Jeremy King, ...
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News
Walmart to focus on expanding existing operations
Walmart is to concentrate on expanding its operations in existing markets rather than entering new locations this year. However, the retailer is still looking at possibilities to enter new countries and acquire technology and other capabilities.Walmart highlighted it has no plans at present to enter Russia but said it would ...
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Bharti Walmart to establish online operations in India
Bharti Walmart is likely to set up an online operation in the country with the grocer reportedly looking to partner with domestic ecommerce companies. Online retailing is gaining ground in India with several companies such as Amazon’s Jungle.com coming to the market, an indirect entry owing to the current restrictions ...
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NewsChina becomes world's largest grocery market
China has overtaken the US as the world’s largest grocery retail market.
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News
Pantaloon Retail in talks to acquire Big Apple stores
Future Group-owned Pantaloon Retail is in talks to acquire Express Retail Services-owned Big Apple’s stores. Big Apple operates 65 neighbourhood shops in Delhi. The takeover is expected to be valued at around INR2.5bn (£30.7m).Big Apple recently launched an online home delivery service – which is not part of the acquisition ...
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NewsHeathrow reports record retail sales
Heathrow Airport has reported a record retail sales of £1.7bn.
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News
Pantaloon Retail to leave joint venture with Staples
Future Group-owned Pantaloon Retail in India plans to leave its joint venture with office retailer Staples by June.The change is part of the group’s strategy to raise funds and focus on core retail operations. The joint venture agreement with Staples, signed in 2007, gives the US-based retailer an option to ...