News Update from the Retail Scene in India

Wal-Mart filed an application with the Reserve Bank of India (RBI) to start operations in India. The first office will be in Bangalore and will be for conducting market research and business development for their Indian operations.
Currently, Wal-Mart has a Global Sourcing office in Bangalore, employing 80 people and making annual purchases of USD 1 billion.
Source: The Economic Times

S Kumars set up retail division

S Kumars Nationwide (SKNL) has entered organized retailing under its 100% owned subsidiary, Brand House Ltd (BHL). The company will be investing approximately Rs. 90 crore into the new business in the next two years.
BHL will be headed by Govind Mirchandani, former chief of Reid & Taylor and head of Arvind. According to sources, the company has been talking to brands such as CKNY, Dolce & Gabbana and Dunhill. Apart from bringing in international brands, BHL will be launching 12 in-house brands also.
Source: The Economic Times

Reliance talent hunt

The entry of Reliance Industries Ltd in retail and the company’s immediate need for hiring staff to fill 25 CEO posts in 700 cities has put major retail chains such as Shoppers Stop, Pantaloons and Piramyd on alert. The company is looking to fill several senior positions from outside India.

Intra-Industry Movements

Piramyd Retail Head Krish Iyer will be stepping down after completing his notice period.
According to sources, RPG’s Retail VP-Merchandising, Radhakrishnan will be leaving the company for a job in Diamond Trading Company (DTC).
Source: DNA, Sify

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