Private Labels in India (B):(Kishore Biyani's) Future Group's Private Label Strategy
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Code :BSM0064
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Region : India
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Private Labels in India Indian organised retailing has been booming since the introduction of the large store formats in the early 1990s. The country has evolved from a savings-driven economy to a consumption-driven economy. As of 2008, spending on personal consumption was valued at $350 billion. Experts estimate that an additional consumption value of another $40 billion will be generated every year. This growing consumption provides the biggest business opportunity for the retailers in India with the potential growth in key categories such as food (62%), fashion (9.5%) and entertainment (7.9%). With the change in consumption, Indian organised retailing is poised to enter into a new era with its strong economic growth, favourable demographics and media exposure. It occupies 7% of the Indian retail in 2008 and is expected to reach 14%-18% by 2015. Organised retail occupied nearly 16 million sq.ft. of retail space in 2008, an increase from just 1 million sq.ft. in 2002. It is expected to create employment for about 2.2 million people by 2010 and fuel the economic growth of the country... Future Group's Private Labels Kishore Biyani's (Biyani) PRIL, is one of the largest organised retailers in India, occupying about 13 million sq.ft., of retail space across 69 cities in contrast to just 1.8 million sq.ft., by Shoppers Stop. Being one of the pioneers of modern retail, PRIL also has the fame of introducing the first hypermarket in India in 2001. Starting from the single store, 'Pantaloons' for fashion retailing in 1996, PRIL has grown into a multiple format retailer with about 263 stores (116 Big Bazaars, 45 Pantaloons, 9 Centrals and 93 other stores) catering to both value and lifestyle segments of the Indian consumer market. By 2009, its market capitalisation has grown to INR 1,800 crore and 60% of its retail sales are from its value retailing... |
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