Sweden's Ikea pitches to enter India
Swedish home furniture giant Ikea pitched for fast-growing Indian retail sector to open up its huge retail precedence. The furnishings chain, which sources 500 million euros (655 million dollars) in textiles and other goods from India annually, plans to boost that figure to one billion euros within three to four years. If Ikea -- famed for its flat pack stylish furniture -- could open up stores in India it could supply at least half the volume of goods from Indian production sources as it does in China and Russia. And most of all, Ikea stores will furnish a new business for in-store signage companies.
Sports lifestyle brand Fila India plans to set up 60-70 stores within three years, mostly in metros and Tier I cities for an investment of over Rs 10 crore. The brand licence was bought about a year ago by Cravatex. It aims to garner a revenue of Rs 125-150 crore by the end of FY 2013. The first store is likely to come up in two weeks at Linking Road in Mumbai. The stores will be a mix of high streets and malls with an average size of 1,500 sq ft. Most of the stores are going to be franchised. The new Fila stores will be a new delight for in-store companies as well as PSPs, fabricators, etc.
Evok Mega Home store, a specialty home interior destination brand by Hindware Home Retail Private (HHRPL), plans to open seven-eight Evok stores by the end of 2010-11. At present, the company has five stores in the NCR region and the sixth store was launched at Zirakpur recently. It has been decided that the new stores would be opened in Western and Southern parts of the country to help Evok create a pan-India presence. No doubt, the Evok stores would provoke new zeal in the business of in-store signage companies as well as others like PSPs, fabricators, sign suppliers, etc.
Metro Cash & Carry, an international self-service wholesale retailer, would initially make its two wholesale distribution centres at Zirakpur and Ludhiana operational by the middle of 2011. The group would also launch the other two distribution centres at Patiala and Jalandhar by the end of year 2011. The centres would give a push for the modern practices in the development of the state with the focus on agriculture development and employment generation in allied farming. The new Cash & Carry outlets is an added advantage for the in-store signage majors as well as others like PSPs, signage fabricators, etc
Bharti Walmart plans to open 40 more retail and three cash-and-carry wholesale stores by December 2010. Two cash-and-carry stores would come up in Rajasthan and Madhya Pradesh by the year-end. The company currently has three such stores. The firm will be looking at south India next year. This process is on and Andhra Pradesh and the south will be the company’s next foray to set up cash-and-carry stores. The company plans to invest US$2 billion in the next 10 years. This expansion is the new step with which in-store signage companies can embark upon new business.
Gitanjali Gems, a listed jewellery company that owns brands such as Nakshatra and D’damas, has engaged consulting firm KPMG to help restructure its business. The company believes that the intrinsic value is much more than the existing market cap of the company. The company has five major businesses. These include manufacturing of diamond and jewellery, brands, retail stores, construction and international retail stores. The restructuring exercise is expected to be completed over the next 6-12 months. In this endeavor of Gitanjali Gems, in-store signage companies can find opportunity to unfold new business.
in-shop model. The brand, now owned by Moet Hennessy - Louis Vuitton (LVMH) group, was launched in 2009 in India and now eying brand conscious and global traveler young Indians as its growth strategy. India is very unique market with lots of diversity at the same time exiting with opportunities as the company is trying to tap the opportunity. With such double fold increase of Zenith stores, there creates opportunity for new business for in-store signage companies.
Pune-based A P Confectionary Pvt Ltd (APCPL), is planning to open 150 new franchisee outlets at select major cities across India by the end of the next FY 2011-12. The company is also planning to introduce sugar free chocolate drink for diabetic patients in the coming few months. The company, which already has two outlets in Nashik, is planning another two new outlets in Nashik by September 2010. Addition of new stores to the existing 50 franchisee outlets, including 20 in Pune and rest of the outlets are located in other cities will be an added advantage for signage companies, particularly those engaged in in-store displays.