Provogue India To Demerge Realty Biz

Provogue (India) Ltd is restructuring its business by demerging its real estate business in a move which will give strategic and private equity investors more liquidity. The apparel retailer, backed by ace investor Rakesh Jhunjhunwala, has raised funding for its real estate business from the UK-based Capital Shopping Centres Group (one of the largest REITs focused on shopping centre management and development) and Triangle Real Estate India Fund.

The move is similar to that of Agre Developers, which was demerged from Pantaloon Retail (India) Ltd last year, to focus on retail real estate, infra-logistics parks and development of wholesale markets.

The new entity, to be listed, will be called Prozone Capital Shopping Centres Ltd. The share price of Provogue (India) closed at Rs 30.5 per unit on the BSE on Monday, down 2.87 per cent. The company currently has a market capitalisation of around Rs 350 crore.

Under the deal, Provogue will transfer its retail-centric real estate development division to Castle Mall Pvt Ltd, which will amalgamate the business with Prozone Enterprises Pvt Ltd, a subsidiary of Provogue. While shareholders will get 1:1 share for the demerger, the exchange ratio for the amalgamation is 313:75. Ladderup Corporate Advisory is the advisor to the above transaction.

The Capital Shopping Centres Group, formerly known as Liberty International Plc., had picked up 25 per cent of equity stake in Prozone Enterprises for Rs 202.5 crore in 2005, valuing the company over Rs 800 crore. Prozone is building retail-centric, mixed-use development projects in tier II cities like Aurangabad, Indore, Coimbatore and Nagpur.

http://www.vccircle.com/500/news/provogue-india-to-demerge-realty-biz

Prapti Fashions opens flagship store in Kolkata

Prapti Fashions, Kolkata-based men and women ethnic wear apparel chain, has opened its flagship store at Elgin Road, Kolkata. Spread over an area of 4,000 sq.ft., the store stocks kurtis, leggings, sherwanis, sarees, lehengas, salwar suits, dupattas and bridal wear.

The starting price for these products is Rs. 395, while the bridal range starts from Rs 7,000.

Speaking on the occasion, Akashdeep Agarwal, Director, Prapti Fashions, said: "We will be opening Prapti's outlet in Bangalore on September 20 and after that we will open our store in Inorbit Mall, Hyderabad on September 30. We will also open another shop in Kolkata in much awaited Avani Riverside Mall. Later this year around December, we will add Prapti's outlet in Surat also."

Prapti Fashions recently opened an outlet in Chennai and has plans to open stores in other metros also. The company is taking the brand outside East India and planning to make it a renowned national brand.

http://www.indiaretailing.com/news.aspx?topic=1&Id=6133

Mumbai gets its first L'Occitane en Provence store

L'Occitane en Provence, the French natural skincare and beauty brand, has unveiled its first retail store at the Palladium Mall, Mumbai. Spread over 400 sq.ft., the new outlet stocks a wide range of skincare, fragrances and body care products made from over 200 ingredients of plant origin and natural oils.

Speaking on the occasion, Guillaume Geslin, Country Manager, L’Occitane India, said: “Today as our Mumbai store is being unveiled, we can now say with pride that L'Occitane has a national presence in India. This journey from one store in Delhi to eight retail points of sale in the country has only been made possible with the overwhelming response, support and feedback from our ever increasing customer base in India. We are confident that this bond will only grow stronger with L'Occitane entering newer Indian markets."

The brand currently has more than 1,800 boutiques in 90 countries worldwide. In India, it is present in Delhi, Bengaluru, Kolkata, Ludhiana and now in Mumbai. The company also has expansion plans for Pune and Mumbai. L'Occitane claims that it has never tested its products on animals.

http://www.indiaretailing.com/news.aspx?topic=1&Id=6134

Children's wear retail set for explosive growth: IRIS Retail

The Indian retail market for children’s apparel is estimated at INR 26,300 Cr with 15.4 percent share of the total apparel market. Registering a healthy annual growth rate of 17 per cent the children’s apparel retail is expected to touch INR 30,800 Cr this fiscal according to a report by IRIS Retail.

Revealing key findings of IRIS Retail Report titled ‘Children’s Apparel and Footwear Market in India’ set to release at the India Retail Forum on 21st September, Vivek Kumar, Director, IRIS Retail, says, “With rise in double-income families, children becoming influencers in purchase decisions, and working mothers spending more on kids, the needs of parents and children’s have increased considerably, which has translated into the formation of micro-segments within children’s category. Affluent parents demand the best for their children, right from high quality clothes and footwear to toys and accessories. With increasing awareness of brands and niche categories like infant, children’s formal & ethnic wear, casual wear, etc built at store level, children’s market has plenty of headroom for expansion and thus presents a massive opportunity a for retailers.”

The organized market with brands and structured retail in children’s apparel (INR 3000 Cr) is mere 5.3 percent of the overall organized apparel market. However, this market is growing at an estimated 24-25 percent, which makes it a significant and exciting opportunity. Given the current demand and improved supplies, by 2011-12, the organized children’s wear segment is expected to reach INR 3700-3800 Cr. The growth in the organized sectors can be attributed to the rapid expansion of domestic players and influx of new domestic and international players.

http://www.indiaretailing.com/news.aspx?topic=1&Id=6135

Organised kids wear market to touch Rs 3,800 cr: report

The organised kids wear market is expected to touch Rs 3,800 crore this fiscal, up from the current Rs 3,000 crore, says a report prepared by Images Retail Intelligence Services (Iris Retail).

"Given the demand and improved supplies, by 2011-12, the organised children's wear segment is expected to reach Rs 3,700-3800 crore due to rapid expansion of domestic players and an influx of new domestic and international players," it said.

At present, the organised kids' wear market is worth Rs 3,000 crore, growing by nearly 30 per cent per annum, the report noted.

The report also said that the overall kids' wear market is likely to touch Rs 30,800 crore this fiscal, buoyed by the robust growth in organised retail. This market was estimated at Rs 26,300 crore last year and is growing at 17 per cent.

http://www.financialexpress.com/news/organised-kids-wear-market-to-touch-rs-3-800-cr-report/844945/

'FDI can scale modern retail to Rs 3.5 tn'

The penetration of the domestic organised retail sector will increase from the current 6.5 per cent to nine by 2015, if the proposed move to allow foreign direct investment (FDI) in retail sector is implemented quickly, according to leading rating agency Crisil.

The organised retail market is expected to be Rs 3.5 lakh crore from the present Rs 1.4 lakh crore, the agency said in a report.

The domestic retail market currently is estimated to be Rs 21.6 lakh crore and by 2015 it is likely to touch Rs 37 lakh crore, Crisil added.

The government is in the process of allowing 51 per cent FDI in multi-brand modern retail, though a consensus is yet to be reached.

"Today there is moderate competition; we feel there will be increased competition very soon. Once foreign players enter, the competitive landscape is expected to change," Crisil Head for Industry Research Ajay D'Souza said.

http://www.financialexpress.com/news/fdi-can-scale-modern-retail-to-rs-3.5-tn/845581/

A new Zaveri Bazar in Bandra

Bandra’s Turner Road is turning a gold leaf. Even as old bungalows are making way for new constructions, the shops in these buildings are in big demand with jewellery stores. As many as 50 upscale showrooms and jewellery boutiques dot the 500m stretch at Turner Road, with the biggest names in the business already having an outlet here, or planning one.

More than half the stores have sprung up in the past couple of years, and there’s a good chance that any new shop or sale of an old shop will add to the number.

The junction at Waterfield Road alone has eight jewellery stores — Farah Khan Fine Jewellery, AA Motiwala, Anmol, Gehna, Popley, AK Motiwala, Lalchand and Popley Eternal — and hopefuls are willing to pay a premium for space to set up new outlets.

Just down the lane, four of the five shops in the recently developed AN Chambers are jewellery stores — Decotie, Oma, Pure Gold, Razwada — and one of them went for a whopping Rs4 crore.

“The going rate for outright sale along this stretch of Turner Road is Rs 80,000 per square foot, and the monthly rental rate is Rs 800 per square foot,” said Sunny Chawla, an investor who’s weighing offers from boutiques that want to rent his office space on the first floor of a new building. The ground floor of the same building already houses three leading jewellery brands.

The emergence of Turner Road as the favourite destination for jewellery buyers has been consistent with the decline of Zaveri Bazar’s popularity. “Discerning buyers no longer want to that travel all the way to town, when they can get the best designs, the perfect ambience, and a convenient location on Turner Road,” said jewellery designer and gemologist Farah Khan, director, Farah Khan Fine Jewellery. She added that, after the serial bomb blasts, people are avoiding going to the congested Zaveri Bazar, and instead preferring to shop at Turner Road, “where even parking is not a problem.”


http://www.dnaindia.com/mumbai/report_a-new-zaveri-bazar-in-bandra_1585928

Da Milano opens five stores in Maharashtra

Italian leather fashion brand Da Milano has opened five flagship stores in Maharashtra at Mumbai Airports (Domestic Airport and Chatrapati Shivaji International Airport), Palladium Mall at Lower Parel, Infiniti Mall at Malad and in Market City, Pune. Spread across 800 to 1,000 sq.ft., the stores feature the Autumn Winter’11 Collection and a wide range of leather products and accessories for both men and women such as bags, clutches, wallets, belts, travel bags, laptop bags, corporate folders and trolleys.

Speaking about the future plans, Sahil Malik, Managing Director, Da Milano, said: “At present we have 32 signature Da Milano stores across the country and we are still counting on. We are now visible at Mumbai and Delhi airports and in this financial year we promise to come up with 10 new outlets across India. We provide guarantee of our products crafted in leather and solid brass fitting with life-time warranty”.

Da Milano, an Italian fashion brand, offers leather accessories and products in India and global markets such as Europe, North America, Asia and Russia. The brand's collection varies from formal to informal occasions, business and glamor. Exclusive Da Milano stores are present in Delhi, Noida, Gurgaon, Mumbai, Pune, Chandigarh, Hyderabad, Kolkata and Chennai.

http://www.indiaretailing.com/news.aspx?topic=1&Id=6131

Tommy Hilfiger Buys 50% in Arvind JV

Indian apparel retailer Arvind Ltd. Thursday said the Tommy Hilfiger Group has bought a 50% stake in its joint venture, Arvind Murjani Brands Pvt. Ltd., from partner Murjani Group.

Tommy Hilfiger, which was bought by clothing conglomerate PVH Corp. last year, has also acquired Murjani Group's license for Tommy Hilfiger trademarks in India, Arvind said in a regulatory filing.

The company didn't provide financial or other details of the deal.

Arvind Murjani Brands, an equal joint venture between Arvind and the Murjani Group, has the apparel sub-licence for the Tommy Hilfiger brand in India.

The reconfigured joint venture will continue its existing businesses, as well as take on the management of other sub-licensees in India, Arvind said.

http://online.wsj.com/article/SB10001424053111903285704576557832853002092.html

Van Heusen opens twenty-ninth store in Delhi

Van Heusen, a corporate fashion brand, has opened a flagship store in Ambience Mall, Vasant Kunj, Delhi. Inaugrated by John Abraham, the new outlet houses brands such as Van Heusen, VDOT, Van Heusen Woman, Van Heusen Sport and a separate lounge showcasing a collection of suits and blazers. This is the brand's twenty-ninth store in the city.

The event also saw the unveiling of the new retail identity of the brand, designed by German Design Consultants, Blocher and Blocher.

Speaking on the occasion, Ajay Ramachandran, Brand Head, Van Heusen, said: “We are happy to launch our flagship store in Delhi and would like to dedicate this store to the fashionable and sophisticated city of Delhi. The showroom will offer one of the finest merchandise from all our segments for all the smart and stylish consumers. The brand is also excited to unveil its new retail identity and looks forward to continued love and affection from our consumers across the capital and the nation.”

Van Heusen is a global dress shirt brand. It is a lifestyle brand for men, women and youth which entered India in 1990.

http://www.indiaretailing.com/news.aspx?topic=1&Id=6127

Baazar Kolkata enters Malda

Baazar Kolkata, a Kolkata based apparel retailer, has opened its first showroom in Malda. Spread over an area of 6,750 sq. ft. the store is made with an investment of Rs. 2 crore.

According to Rishav Goenka, Retail Head of Baazar Kolkata, tier II cities are very important for their brand because they are largely untapped and hold a lot of potential.

Baazar Kolkata has a strong presence in Eastern India with its stores in cities such as Kolkata, Agartala, Jamshedpur, Bhilai, Cuttack, Guwahati, Asansol etc.

Talking about Baazar Kolkata's expansion plans Goenka said: "We are trying to penetrate more deep into East India for now. Within this financial year we will be coming up in one more town in West Bengal."

http://www.indiaretailing.com/news.aspx?topic=1&Id=6128

Asansol Sentrum Mall's soft launch scheduled on September 15

Asansol Sentrum, touted to be one the largest and most important malls of Asansol, is scheduled for a soft launch on September 15. Developed by Shristi Infrastructure Development Corporation Ltd and ADDA, the gross leasable area of the mall is 2.5 lakh sq.ft.

Mall has already signed up with host of retail brands such as, Future Group as the anchor occupying 30,000 sq. ft; Reliance Trends as the fashion anchor, occupying 15,000 sq ft; Reliance Footprint as the footwear fashion anchor; INOX as the entertainment anchor and Buzz as the food court.

The vanilla brands like Nike, CCD, Lilliput World, Gini & Jony, The Mobile Store, Hoffmen, Moustache, Khadims, Kanpur Leather House, Chandra & Sons, Fab Lens, Pavillion Café, City Bazar Metro and Just i will have their stores in the mall. The entire third floor is dedicated to local retail brands dealing in various categoriee while the fourth floor, will house Inox as Multiplex and also Buzz food court. The mall also has provision for restaurants and lounges.

Few of the brands in pipeline are – Adidas, Woodland, Lee, Spykar, Pepe, K Lounge, Denizen, Vip, The Loot, Geeta Fashion, Kaya Skin Clinic, Presto, Fun Toys, Titan, Tanishq, Kathleen, Subway and Dominos.

Most anchor tenants will operate on a revenue share and minimum guarantee model.

http://www.indiaretailing.com/news.aspx?topic=1&Id=6129

My Mart's shopping-cum-entertainment store debuts in Rani Bagh

My Mart, promoted by P B Retail- an infant products retailer, has opened a shopping-cum-entertainment store in Rani Bagh, Delhi. Spread over 6,000 sq. ft. across three floors, the showroom stocks everyday requirements for infants and teenagers such as apparel, accessories, toys, party wear, sportswear and furniture.

The first floor showcases infants’ apparels, accessories, baby gear and stationary, while the second floor houses the boys section (0-14 years) displaying apparel, party wear, sportswear, ethnic wear and furniture. The third floor for teenagers showcases westerns, formals, semi-formal and party wears. Along with shopping, the outlet also has gaming and movie zone for kids.

Speaking on the occasion, Pawan Agarwal, Chairman and Managing Director, said: “We are bringing a complete shopping and entertain solution for the kid’s up to 14 years. Here the kids will get variety of products to create their own exclusive wardrobe. This is our second store in the city which offers a wide range of good quality products with latest fashion and trends. We are also planning to open 10 more store in Delhi NCR very soon in the areas like Gurgaon, Ghaziabad, and Noida.”

The store offers a wide range of products and accessories both for infants and children up to 14 years. The apparels are are priced between Rs.69- Rs.4,000 while the furniture prices start from Rs. 2000 onwards.

My Mart provides shopping solutions for new born kids 0-5 years old, including apparel, footwear, accessories (bath and fashion), stationery, gifts and toys and kids furniture.

http://www.indiaretailing.com/news.aspx?topic=1&Id=6130

Malad HyperCITY gets a makeover

HyperCITY store in Malad has revamped its look to provide customers a better shopping experience. The outlet has designed a new floor plan that houses shopping, entertainment and leisure under one roof. Along with the new look the store has also added more products in its offerings.

The makeover includes an improved Waitrose section that allows customers to choose from a wide range of cuisine, a Furtados section with musical instruments & accessories from various brands and and additional display space for fruits and vegetables.

HyperCITY Retail (India) is part of the K. Raheja Corp. Group, a leader in the Indian retail sector. The retailer launched its first store in Malad, Mumbai, spread over 1, 20,000 sq ft. Currently, HyperCITY has 10 stores in cities such as Mumbai, Hyderabad, Bengaluru, Bhopal, Ludhiana, Amritsar and Jaipur. It offers over 44,000 products. Over 11 lakh customers visit HyperCITY stores every month.

-IndiaRetailing Bureau

http://www.indiaretailing.com/news.aspx?topic=1&Id=6125

At Rs 4,200 cr, Pantaloon’s debt in danger zone

Delays in opening the retail sector to foreign direct investment (FDI), rising interest burden and a looming economic slowdown bode ill for Pantaloon Retail, flagship venture of the Kishore Biyani-owned Future Group. Saddled with Rs 4,200 crore debt at the end of June 2011, the company’s debt-equity ratio has touched 1.3:1, a level not seen at other retailing peers.

Though Future Group plans to trim its rising debt-equity ratio by selling its stake in non-core businesses like Future Capital, analysts say any slowdown in the economy could spark trouble.

An inter-ministerial panel recently recommended allowing 51 per cent FDI in multi-brand retail, which must still be cleared by the Union Cabinet. Jagannadham Thunuguntla, head of research at broking firm SMC Global, said Pantaloon’s debt is manageable if the economy continues to grow at the current pace. India’s GDP is expected to grow at 8.2 per cent this fiscal, slightly below...

http://www.financialexpress.com/news/at-rs-4-200-cr-pantaloons-debt-in-danger-zone/842833/

Indian, global retailers in mating dance

Struggling Indian chain stores are hoping the long-anticipated opening of the sector to foreign players like Wal-Mart Stores Inc and Tesco provides a lifeline in the form of equity investments and joint venture partnerships.

That has local chains, which make up a small share of a fast-growing retail sector dominated by mom-and-pops, scrambling for tie-ups with Western retail giants.

Indian companies like Trent and RPG are local operators with scale expected to seek partnerships with global players preparing to swoop in on Asia's third largest economy , the head of investment banking at a foreign bank in Mumbai said.

A Carrefour link-up with India's Pantaloon has long been anticipated.

http://www.financialexpress.com/news/indian-global-retailers-in-mating-dance/842983/

Indian, global retailers in mating dance

Struggling Indian chain stores are hoping the long-anticipated opening of the sector to foreign players like Wal-Mart Stores Inc and Tesco provides a lifeline in the form of equity investments and joint venture partnerships.

That has local chains, which make up a small share of a fast-growing retail sector dominated by mom-and-pops, scrambling for tie-ups with Western retail giants.

Indian companies like Trent and RPG are local operators with scale expected to seek partnerships with global players preparing to swoop in on Asia's third largest economy , the head of investment banking at a foreign bank in Mumbai said.

A Carrefour link-up with India's Pantaloon has long been anticipated.

http://www.financialexpress.com/news/indian-global-retailers-in-mating-dance/842983/

The Body Shop on an expansion spree

The Body Shop, UK’s cosmetics and toiletries retailer, has opened three new stores in Pune, Mysore and Chandigarh as part of its expansion plans increasing its total store count to 73 in India.

The brand has opened its 5th store at Amanora Mall, Pune; its first store in Mysore at “Mall of Mysore” (the brand's second store in Karnataka) and its second store at DLF City Center Mall, Chandigarh. The new outlets will showcase a wide range of products across skin care, bath and body, make-up, hair, fragrance, gifts and accessories.

All the three new stores will offer promotions, free make-up application and consultation, skincare consultation and others services at the store in the first month of its launch.

The brand also plans to expand its customer base in Delhi/NCR through Customer Loyalty program “Love Your Body” for discounts, special offers and other privileges all through the year.

The Body Shop has over 2,500 stores across 60 countries. With over 1, 200 products made with natural ingredients, the brand was awarded the Humane Cosmetic Standard for its Against Animal Testing value. From Brazil to India, The Body Shop trades with 28 Community Fair Trade suppliers across 21 countries sourcing natural ingredients.

http://www.indiaretailing.com/news.aspx?topic=1&Id=6121