Tag: Croma

  • Q2-2015: Reliance Retail juggernaut grows 20 per cent y-o-y

    Q2-2015: Reliance Retail juggernaut grows 20 per cent y-o-y

    BENGALURU:  The Mukesh Ambani led Reliance Industries Limited (RIL) announced its Q2-2015 results on 13 October reporting a y-o-y  de-growth of 4.3 per cent in consolidated turnover to Rs 1,13,396 crore in Q2-2015 from Rs 1,18,439 crore in Q2-2014, and a growth of 5.1 per cent versus the immediate trailing quarter Q1-2015 turnover of Rs 1,07,905 crore. During HY-2015, the company’s revenue grew just 1 per cent to Rs 2,21,301 crore from Rs 2,19,054 crore in HY-2014.
     
    The company’s organised retail segment contribution to RIL’s turnover grew from 2.93 per cent (Rs 3470 crore) in Q2-2014 to 3.67 per cent (Rs 4167 crore) in Q2-2015, registering a 20.1 per cent growth y-o-y. In Q1-2015, RIL’s retail segment contributed 3.71 per cent (Rs 3999 crore) to the company’s turnover registering a 4.1 per cent growth q-o-q.  In FY-2014, the segment had reported revenue of Rs 14,566 crore or 2.69 per cent of RIL’s turnover of Rs 5,41,599 crore. A Reliance earnings release for Q2-2014 says reports EBDIT figures for its retail segment at Rs 186 crore, recording a y-o-y EBDIT growth of 96 per cent.

    This quarter, the company’s overall operational outlet count crossed 2000 with a presence in 155 cities of the country.  Some of the store formats under Reliance Retail Brands include Reliance Retail, Reliance Market, Reliance Fresh, Reliance Digital, Reliance Trends, Reliance Footprint and Reliance Jewels.

     

    In the overall context of RIL numbers, its retail segment figures may seem small, but how many companies can boast of annual revenues of about Rs 15,000 crore plus, that the segment must cross this fiscal? Not too many.

     

    According to an Economic Times report, in comparison, Tata group’s retail divisions, including Titan, Croma, Trent and Landmark, had revenue of about Rs 17,000 crore. Kishore Biyani’s Future Retail had revenue of Rs 11,336 crore in fiscal 2014.

     

    India’s retail industry has been pegged at a quarter of India’s gross domestic product (GDP) about $525 million or Rs 31.5 lakh crore and is expected to double over the next five years leading to 2020. There is more than enough scope for the company’s organised retail segment to grow and contribute in a big way to RIL’s numbers over the next few years.

     

     

    Click here for the financial statement

     

  • Tata Group to be the ‘Alibaba’ of India?

    Tata Group to be the ‘Alibaba’ of India?

    MUMBAI: The multiple investments made by its chairman emeritus Ratan Tata in e-tail and the steep rise in the e-commerce industry seems to have inspired the Tata Group too, which is now reportedly planning a big entry into the e-commerce space with a marketplace-based model.

     

    The Economic Times reported that the site will be headed by its subsidiary Tata industries and that Tata is modeling its business on Tmall.com, which is the marketplace in the Alibaba Group.

     

    The new marketplace business, modelling on Alibaba’s Tmall.com, would allow third-party sellers on the platform. It would help generate revenues by charging a fee or commission from merchants, who will use the platform.

     

    The yet-to-be-named venture is likely to be rolled out in 2015, and will initially showcase Tata’s existing retail chain brands such as Westside, Croma and Star Bazaar. Tata is also planning to tie up with its partner Zara, which only sells online through its own sites.

     

    It will also allow other merchants to sell alongside Tata’s various units. The group has already reportedly begun enrolling vendors and hiring people, the report added.

     

    Tata already has a substantial presence in real-world retail, including joint ventures with Britain’s Tesco, Spain’s Zara and coffee chain Starbucks. Last month Ratan Tata, chairman emeritus of Tata Sons, bought a stake in Snapdeal and online jewellery retailer Bluestone.

     

    India’s e-commerce market has been booming in recent years with market leader Flipkart clocking a valuation of $7 billion in a July funding round when it raised $1 billion from a clutch of existing investors and a day later, Amazon announced plans to invest $2 billion in India.

     

    Also, India’s online retail business is expected to surge to between $19 billion and 38 billion, from about $2.3 billion in annual sales now. Enticed by the potential, other business houses like Reliance Industries and Aditya Birla Group have reportedly been hinting at forays into the e-commerce space but have not revealed any concrete plans so far.

  • New ‘gourmet category’ coming soon on Snapdeal

    New ‘gourmet category’ coming soon on Snapdeal

    MUMBAI: Continuing its category expansion spree, Delhi-based e-retailer Snapdeal.com has become the first online major to enter into non perishable food category. In a deal with the veteran chef Sanjeev Kapoor, the e-commerce company will soon offer a gourmet section to its customers.

     

    The industry pioneer, also known to author various cookbooks will be working closely with the website to launch the category.

     

    Talking about his latest venture with Snapdeal.com, Kapoor said, “This collaboration will bring good quality products to India at par with the rest of the world. People here find it difficult to find good gourmet products, through this tie-up, we will be able to provide excellent products to the customers.

     

    “All my endeavors are in line with the aim to glorify the richness of our food culture and to keep alive the traditions of the Indian kitchen. This new association with Snapdeal.com will now enable people across the country to order products like snacks, confectionery, international groceries, exotic dry fruits and nuts at their doorstep just with a simple click of a button,” he added

     

    The gourmet category will launched with chef’s brand WonderChef which already sells some of its products on the site.

     

    The section will include assortment of food products and beverages including ready to cook items, spreads and jams, wide range of Indian and international groceries, confectionery, chocolates and desserts.

     

    Snapdeal VP fashion Amit Maheshwari said, “This launch will further strengthen Snapdeal’s leadership as a marketplace and a destination of choice for all kind of products across categories which fulfill customers’ both home and business requirements.”

     

    The chef added, “We have been dealing with Snapdeal at a strategic level with our brand WonderChef which has seen huge success on the portal. So when they approached us this new deal and we jumped on board.”

     

    Even though the chef did not comment on how much the deal is worth, he added that if someone as credible as Ratan Tata is trusts the site, it’s not tough to take that extra leap of faith.

     

    Recently Snapdeal also tied up with Tata homes to sell houses online and also entered into a partnership with Croma to sell its electronics products online. Ratan Tata, the former chairman of salt-to-steel Tata conglomerate also bought a stake in the online retailer.

  • After Tata Housing, Snapdeal now ties up with Croma

    After Tata Housing, Snapdeal now ties up with Croma

    MUMBAI: Tata Group promoted electronics retail chain Croma and Snapdeal.com have entered into a strategic partnership to sell products online.

     

    According to the press release, Snapdeal.com would create Croma’s Flagship Store on its portal to sell electronic items including mobiles, tablets and laptops. The two will jointly work towards market development initiatives, establish joint collaboration on customer and vendor outreach programmes and category development.

     

    Talking about the collaboration, Snapdeal CEO Kunal Bahl said, “This is a big moment for us, where Croma and Snapdeal.com will now leverage their offline and online presence respectively and work jointly to offer a more holistic shopping experience to consumers across the country.”

     

    Both brands would also be looking at exclusive launches of products and brands belonging to the select categories.

     

    Infiniti Retail MD & CEO Ajit Joshi said, “Today’s dynamic retail industry demands an infrastructure that is equally robust on the online and brick-and-mortar fronts.”

     

    “Omni-channel retail is undoubtedly the way forward in the Indian retail industry, and therefore the association is designed to enable Croma and Snapdeal to leverage from each other’s strengths, to provide a winning proposition for customers and business alike,” he added.

     

    This is second tie-up of Tata with the New Delhi-based e-commerce major after its chairman Ratan Tata picked up a stake in the portal. Last month, Tata Value Homes, a 100 per cent subsidiary of Tata Housing, entered into a first-of-its-kind, strategic and exclusive partnership with Snapdeal.com to sell residential properties.

     

    Infiniti Retail Ltd, a 100 per cent subsidiary of Tata Sons runs Croma stores. Launched in October 2006, Croma has 96 outlets across 16 major cities of India and sells over 6000 products.

     

    Started in February 2010, Snapdeal.com is country’s online marketplace.

  • Who controls the remote?

    Who controls the remote?

    A TV remote control is the most sort-after item in a household. From parents to kids, everyone wants to get their hands on the small black device controlling the idiot box in the living room.

     

    The battle has been going on for decades now. The broadcasters, a very few of them in the beginning, understood it very early wherein they smartly segregated their programmes into time slots pertaining to a particular gender.

     

    Afternoons were meant for housewives who after finishing their work had their daily dose of soaps to entertain them before the children came back from schools and tune into shows catering to their tastes. It was in the evening that men got hold of the television set to catch-up on the day’s news.

     

    The pattern has been passed down the history even though the number of channels available to entertain a household has multiplied. Everybody is spoilt of choice, be it the women or men of the house or children.

     

    Everyone has numerous channels to surf before they pick their favourite.

     

    As per a new research published by Croma, the electronics megastore from Infiniti Retail, India’s women ‘own’ the household TV throughout the day; however by the time the clock chimes 9 pm it’s the men who take over.

     

    The findings highlighted in Croma’s ‘Household Habits’ survey reveal that 9 pm as a form of ‘Remote Relay’ hour is when control of the ubiquitous and all-important remote finally passes from female to male jurisdiction. According to the findings nearly 40 per cent of men claim that their female partners dominate the remote control all afternoon (from midday to 9 pm); while over half of all respondents collectively claim that it’s their respective mothers who rule the remote during the same period. Over half of the female respondents actually admit to ‘fighting for control’ of the precious device.

     

    Before the recently concluded FIFA World Cup even started, the jokes doing the rounds were of men telling their wives to keep away from the remote control at night. Every now and then, the battle intensifies especially during sporting events or some major political development. However, this doesn’t mean that women aren’t interested in sports or politics but in general it’s the soaps that catch their fancy.

     

    However, with the increase in disposable income and technology wherein multi-device and cross-screen usage has become common in certain sections of our society, the survey demonstrates the importance, protocols and household politics relating to control of the household TV set. And, according to the findings, the females of the household exercise a near monopoly on the remote; at least during daylight hours.

     

    The 9 pm slot symbolises a form of ‘changing of the guard’ when the females of the household cede control of the TV to their male counterparts.  This form of ‘remote control diplomacy’ confirms the central role and meaning the TV set continues to exert in the Indian household.

     

    While women clearly rule the noon and evening slot of the remote relay, men take over from 9 pm, with over a quarter of all respondents citing fathers overtaking mothers for control of the remote during this period. The time slot (primetime as per most channels) has seen a significant increase in male partner dominance in terms of control over the TV remote.

     

    But, if men rule the 9pm slot, one is forced to think about the primetime slot which broadcasters, especially general entertainment channels (GECs), invest in?

     

    As per various media analysts who study the medium and plan and buy for it every day, the study might be true, but the ‘change of guard’ doesn’t happen sharp at 9!

     

    They insist that times are changing and men too are interested in watching what their partners watch every night. It is a transition period wherein almost for one to two hours, both men and women, sit and watch two channels overlapping the couple’s or of family’s interest.

     

    It is family time where everyone watches together. And as kids and others move away from the TV sets as night progresses, men are left as the sole controller of the remote, free to watch whatever interests them.

     

  • McCann Erikson appoints Suraja Kishore as head planning

    McCann Erikson appoints Suraja Kishore as head planning

    MUMBAI: There’s some change at top at the McCann Erikson office. The agency has roped in Suraja Kishore from Publicis Ambience for its Mumbai office as the head planning.

     

    Suraja comes with over 17 year of experience and has worked on Idea Cellular – What an Idea, and the iconic Tata Tea – Jaago Re campaigns. On his new role, he said, “McCann Erickson is known for its creative force and it has brands that enjoy scale and size. I think it is the right place for strategic planning to make a real difference. I look forward to creating transformational brand stories that are based on powerful human truths.”

     

    He is a postgraduate from Tata Institue of Social Science and began his career as a copywriter at the then Chaitra Leo Burnett. He began is planning stint in Mudra Delhi. He has worked on diverse categories and brands such as Croma, Ginger Hotels, Lakme, Axa Insurance, Citibank, Park Avenue Men grooming products, World Gold Council, Renault Duster, Henko Detergent, Tata Automotive, Hershey’s Milk Mix, Electrolux, Yamaha Motorcycles, Ariel Detergent and Suzlon, among others.

     

    McCann Erikson president Govind Pandey said, “Suraja will gainfully enhance ME’s strategic planning prowess. He is a seasoned professional and has an interesting and rich way of seeing life and people. His contribution will enhance relevance for our brands by adding depth and nuance to our solutions.”

     

    McCann Erickson Mumbai senior VP and GM Namrata Nandan added, “McCann Mumbai’s team is strengthened with Suraja’s addition, and we look forward to working together and creating great work for our brands.”

  • MTV forays into gadgets’ space in partnership with Soundlogic

    MTV forays into gadgets’ space in partnership with Soundlogic

    MUMBAI: Giving ‘coolness’ a complete new dimension, MTV, the leading youth iconic brand in association with Soundlogic – makers of state-of-the-art technology products – together launched an uber cool range of gadgets for the youth – MTV Fashiontronix by Soundlogic.

    Speaking about this new range, Viacom 18 business head – consumer products Saugato Bhowmik said in a release: “We are extremely delighted to launch this exciting new gadget range with Soundlogic. Through this partnership we are focused to empower the youth with their favourite Music on the Go… It is the perfect mix of style, design and price. So, no more compromise between funk and affordability!”

    The range is available exclusively on www.cromaretail.com and across 40 plus Croma stores for the first 60 days. Apart from this, it is available at 300 plus traditional retail outlets across the country.

    Soundlogic director Sagar Gwallani added: “We are thrilled to partner with MTV for the launch of MTV Fashiontronix range of gadgets. The entire range is designed keeping in mind the needs of the youth. It’s not only, very cool and stylish but also state-of-the-art technology. Partnering with Croma, the most preferred electronic destination for today’s youth, we are confident of the range doing very well.”

    MTV Fashiontronix by Soundlogic brings together the channel’s unique creative edge and Soundlogic’s technical bandwidth to deliver unmatched sound experience. The range is available in trendy colours that exude the youth channels’ attributes making it just as stylish as the youth today!   The range comprises earphones; headphones and Bluetooth enabled speakers priced between Rs 899 and Rs 3,999.

    Infiniti Retail CEO and MD Ajit Joshi said: “At Croma, you’ll always find the latest and the best electronics being launched first. And this time again, we are excited to be the exclusive retail partner for MTV Fashiontronix by Soundlogic. The range is funky and cool, something the youth will like instantly.”

  • MTV makes music, again

    MTV makes music, again

    MUMBAI: While it counts as the oldest music television network in Asia and the one brand that has always stood for all things youth, MTV India, Viacom18’s youth entertainment channel, is not one to rest on its laurels.

     

    And so, in a bid to add an exciting new dimension to its youth connect as much as stay ahead in an already cluttered space, the channel has, in collaboration with Soundlogic, an American gadget major that set shop in India two years ago, and Croma, launched a range of music accessories under the flagship brand, MTV Fashiontronix.

     

    The accessories including trendy earphones, Bluetooth ear buds and many more will be exclusively available at Croma stores across the country and on its website.

     

    Speaking on the launch, Viacom 18 senior VP consumer products Saugato Bhowmik said: “We believe in catering to the youngsters and only want to expand our horizons across categories which cater to our thought process, be it related to fashion, gadgets, Bollywood etc.”

     

    About the tie-up with MTV, Soundlogic director Sagar Gwallani said: “After the successful response we got here, we thought of enhancing our reach more among the youngsters. Hence, we collaborated with MTV because of its popularity among the youth and its digital following. The combination of our technical bandwidth along with the channel’s creative edge in the market will help us achieve our goal.”

     

    On the collaboration, Infiniti Retail CEO & managing director Ajit Joshi said: “We sell products like JVL and Bose but today, youngsters want music on the go. It is a religion for them. And when we got an opportunity to address the needs of the youth of the country, we were glad to be part of it.”

     

    MTV will market the new product range through its digital space. “Where do youngsters hangout? It’s cafes, colleges and are always on the digital platform. Apart from us, Croma too will be supporting us on its digital space,” informed Bhowmik, adding that the channel is in the planning stage of launching a marketing plan on its sister channels. “We have all the edge at our disposal and we will be utilizing our sister channels in the future,” he said.

     

    Meanwhile, Joshi opined that the range, priced between Rs 899 and Rs 3999, doesn’t really need marketing as he could predict it would fly off the shelves as soon as youngsters got their hands on it.