Pizza Hut's parent co Yum under ED's lens
Yum Restaurants, which owns the franchise of KFC and
Pizza Hut in India, has come under the Enforcement Directorate's
(ED) scrutiny for allegedly failing to bring in Rs 390
crore ($80 million) foreign investment in the country
after getting the government approval, reports Business
to continue investing in Asia
plc, the international grocery and general merchandising
retail chain, will continue to invest in Asia despite
the global economic slowdown, agency reports. More...
said to be buying Intermarche Spanish stores
Intermarche decided to leave the Spanish grocery market,
Carrefour is now hoping to takeover the outlets formerly
used by the chain, agency reports. More...
Q2 net plunges 94% at euro 45 million
electronics giant Philips has reported a 94 per cent
drop in net income at euro 45 million for three months
ended June, primarily on account of higher restructuring
and acquisition related charges. More...
focuses on Asia for expansion
theatre company Imax is hoping Harry Potter's magic
touch will help catapult the company itself into a global
smash hit, agency reports. More...
entertainment zones may be reality by 2011
and entertainment zones (REZs) are going to be the next
big thing in India’s retail sector as the country is
expected to have its first such zone within two years,
reports Financial Chronicle. More...
aims to increase store count to 100 by ’11
instruments manufacturer Luxor is planning to put its
expansion plans back on track. The company has not able
to reach its turnover target of Rs 300 crore this year
and hopes to achieve the figure by the end of March
2011. In addition, Luxor is also planning to ramp up
its retail presence across India and increase its store
count from 12 to 100 by the end of 2011, reports Financial
mulls hub-and-spoke stores for retail expansion
the lifestyle products division of Jindal Steel, has
plans to make available its products through a mix of
large and small stores. Dubbed as the ‘hub-and-spoke’
model, a city will have a couple of large stores, the
hub, which would showcase the entire range of artd’inox
products, whereas the spokes -- smaller stores would
have products as per the specific taste and preferences
prevalent in a locality, reports Financial Chronicle. More...
Uno to open three new stores in Orissa
Uno, India’s leading jeanswear brand, has announced
plans to open three more exclusive stores in Orissa
by June next year. The new stores will come up in Cuttack,
Rourkela and Sambalpur. More...
maintains same-store growth
Biyani’s Pantaloon Retail maintained its same-store
sales in June, as revival in consumer demand helped
the country’s largest retailer to post positive numbers. More...
likely to close Hyper Books chapter
Tata is looking at the option of closing the Hyper Books
discount stores that sell books and music. This will
be part of a restructuring of the Tata group’s book
and music retail business. In addition to this, Tata
also plans to shut some non-profitable Landmark lifestyle
retail stores which sell books, music and movies, reports
Financial Chronicle. More...
will rebrand its jewellery with logo
elimination of the 2 per cent excise duty on branded
articles of jewellery, Titan’s jewellery retail chain
is re-entering the branded jewellery segment. The company
will start the process of branding by putting its logo
on its packaging through carry bags and boxes, reports
Financial Chronicle. More...
Govt plans 5,000 Onam bazars
Civil Supplies Department will open 5,000 bazars during
Onam in Kerala, according to the minister for food and
civil supplies, C Divakaran. More...
Group bets big on pvt labels
Brands, a subsidiary of the Kishore Biyani-promoted
Future Group, will focus on the FMCG segment as part
of a plan to increase the share of private labels in
the company's retail formats, reports Business Standard. More...
India announces strategic tie-up with AIPL
India, a part of Mexico-based entertainment giant Cinépolis,
has entered into a strategic tie-up with real estate
major Advance India Projects Ltd (AIPL) to open its
multiplex at Celebration Mall, one of AIPL construction
to be operational in Amritsar. Meanwhile, Jones Lang
LaSalle Meghraj (JLLM) will support Cinépolis in managing
the fit-outs of the Amritsar project. In addition, JLLM
is also helping Cinépolis to connect with quality shopping
mall developers throughout the country, according to
a company press release. More...