Search Result for : Retail Outlets

The Dollar Business Bureau In a move to attract major foreign investment, the Government on Monday approved an investment of around $500 million proposed by e-commerce giant Amazon for opening retail food stores in India. This is the first proposal for foreign direct investment (FDI) in food retail that got the government’s approval. This is also the first FDI case that gets an in-principle approval after the recent shut down of the Foreign Investment Promotion Board (FIPB). This proposal was pending with the FIPB. Therefore, the Department of Industrial Policy and Promotion (DIPP) has given its nod to the proposal. According to the proposal, the American ecommerce major will open a fully-owned arm in India for carrying out the business of storing food products and sell them online. Presently, the Government allows 100% ...

The Dollar Business Bureau (sourced from PTI) Apple Inc officials on Tuesday met Commerce Ministry top brass amid its plans to open stores in India without initially having to source components locally.  According to media sources, the meeting chaired by Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek lasted for almost an hour with senior officials from Apple discussing details of the new Foreign Direct Investment (FDI) rules in single-brand retail and the company's retail expansion plans.  Apple officials are believed to have sought clarity on the changes in mandatory domestic sourcing norms for single-brand retail brought in earlier this year. However, no official word on the meeting was received from either side.  In June this year, the government had relaxed FDI norms by ...

The Dollar Business Bureau Peter England, the clothing brand of Aditya Birla Fashion and Retail Ltd, announced its entry into Sri Lanka’s market with an exclusive retail outlet in the country’s capital city, Colombo. “Peter England announced its successful foray into Sri Lanka. Peter England has successfully grown as one of the most popular Menswear brands in India. The brand is betting on the fastest growing retail sector in Sri Lanka,” the company said in a statement. The company has launched the outlet in partnership with Sri Lanka's Softlogic Holdings. Ashish Dikshit, Business Head - Madura F&L, Aditya Birla Fashion and Retail Ltd said, according to our thorough market research, apart from witnessing a growing market for retail, the island nation of Sri Lanka ...

The Dollar Business Bureau Aditya Birla Fashion and Retail Ltd (ABFRL) said that the company’s fashion retail stores division, Pantaloons, has signed an exclusive pact with the UK brand Izabel London to sell its women wear in India. The deal marks the entry of the British high street brand into India, across 145 retail outlets of Pantaloons, ABFRL said in a statement. “Pantaloons is among the most popular hubs for women's wear in India. Our motive behind introducing 'Izabel London' is to create exciting moments of shopping for our women customers, at our Pantaloons stores,” said Shital Mehta, CEO, Pantaloons. The women's wear division is rapidly growing and has been contributing a significant part to the overall share of business, Mehta added. Mehta further ...

 Deepak Kumar | The Dollar Business China’s e-commerce giant Alibaba on Monday once again sought approval from the Indian government to launch its e-commerce and retail operations in the Indian market. On Friday, Alibaba Group President Michael Evans and Global Managing Director K G Gowrappan held a meeting with the Indian Communications and Information Technology Minister Ravi Shankar Prasad to express the company’s interest. The China-based company intends to launch its operation in India by this year end. Prasad, in turn, assured Alibaba’s top officials that the Indian government would extend its support in the company’s global expansion plan. "We will give them (Alibaba) full cooperation,” Prasad had said after the talks. Alibaba’s founder Jack Ma has visited India several times since ...

The Dollar Business Bureau The Minister of State for Petroleum and Natural Gas (Independent Charge) Dharmendra Pradhan (3rd L) chairing the meeting of the Consultative Committee of Parliament on the “Marketing in a competitive environment”, in Mumbai on Monday.   Indian oil marketing companies (OMCs) are looking at expanding distribution network to cover all significant points of consumption in the domestic market, including remote areas of the country. Union Petroleum Minister Dharmendra Pradhan on Tuesday held a meeting of the Consultative Committee of Parliament for the Ministry of Petroleum & Natural Gas on ‘Marketing in a competitive environment’ in Mumbai. The event attended by CMDs of Public Sector Companies (PSUs) focused on the marketing of petroleum products in a competitive environment. Addressing the gathering, ...