Tata Steels unveils ‘steeljunction’ in a new avatar

India’s largest steel producer, Tata Steel, has launched its steel retail store ‘steeljunction’ in a new avatar with an aim to create new paradigms in steel retailing for the ‘B2C’ consumers. This unique outlet will provide a ‘one stop destination’ for consumers intending to go ‘steel shopping’. Inaugurated by Tata Steel CEO & MD T. V. Narendran recently, the store will showcase steel products catering to four consumer segments – Home Décor & Gifting, Home Building, Home Making and Tools & Implements. Located in a premium Kolkata area, this 6,000-sq.…

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Shoppers Stop to set up a big unit at Urban Square, Udaipur

Bhumika Group has signed an agreement with Shoppers Stop , one of India’s largest chain of Department Store for its Mall Urban Square at Udaipur. Spread over the Ground Floor and Upper Ground Floor measuring a total Carpet Area of  20,331 Sq Ft., Shoppers Stop at Urban Square will be the first store in the city and is expected to be operational by 2021. Shoppers Stop will be one of the biggest attractions and an integral part of the upcoming “Urban Square”, an integrated Hospitality, Retail and Family Entertainment destination…

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Apple India former country manager launches General Trade platform

 Sanjay Kaul, former Country Manager – Apple India, has announced the launch of Sofyx, a social commerce platform for general traders dealing in smartphones and accessories. Once celebrated for building two key smartphone businesses from scratch, Kaul is now dedicating himself to making technology accessible & affordable for small retailers. In the venture, Kaul is supported by Co-founder Mukesh Kachroo, former Chief Technology Officer – Gain Capital Group, USA. Meanwhile the platform enables business networking, engagement, real-time feedback, and community building amongst the stakeholders. Besides, it helps drive business transactions between various partners. Sofyx also…

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India to get over 65 Mn Sq. ft. of new Mall Space by 2022-end

Considering the growing surge in e-commerce business in the country, its quite natural to conclude that it would slacken the business in the physical malls segment. But according to ANAROCK’s latest retail report TCCx: Redefining the Future of Retail Malls released at the CII North Retail Conclave recently in Delhi, the sector is riding high on the phenomenal rise of consumerism and renewed interest by institutional investors. According to the report, the Indian mall developers are looking to add over 65 mn sq. ft. of new mall supply by 2022-end across the country. Of…

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Amazon getting ready for drone delivery

Five years after Amazon CEO Jeff Bezos had expressed his intent to kickstart drone driven deliveries to the consumers, the company now appears to be close to making it a reality. The company has created a sensation by revealing a new design for its Prime Air delivery drones which could be pushed into the services sometime later this year. Capable of vertical take off and landing, the prime air delivery drones can travel upto 15 miles and can carry consignments weighing less than 5 pounds. The air carrier of the…

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PE Inflows in Indian Retail double to $1.2 bn in two years

(Executive summary of a recently released report by Anarock) Further liberalization in FDI policies – 51% FDI in multi-brand retail and 100% FDI in single-brand retail under the automatic route (against the previous 49%) – has attracted major global PE funds to double their investments in the Indian retail sector. As per ANAROCK’s Private Equity in Indian Real Estate report, the total private equity inflows in the Indian retail sector between 2015-2018 stood at USD 1.84 bn. Of this, nearly USD 1.2 bn were pumped in between 2017-2018 alone.   US and Canada-based PE funds together invested more…

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INORBIT MALL, HYDERABAD BAGS THE BEST REORIENTATION SHOPPING CENTRE AWARD

Inorbit Mall, Hyderabad – the one stop destination for fashion, food and entertainment has another achievement to be proud of. Recently Inorbit Mall, Hyderabad won the award for “The Best Reorientation Shopping Centre of the Year Award” at the India Shopping Center Awards. Inorbit Hyderabad bagged the award for their recent upgradation and introduction of new brand mix. The India Shopping center Awards recognizes excellence in the business of shopping centers among various categories.

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Flipkart to invest Rs 5000 crore in logistics parks

Several recent media reports suggest that the Walmart– owned domestic e-commerce giant Flipkart is all set to invest a staggering Rs 5000 crore in creating large scale logistics parks across three locations in the country – Karnataka, Gurugram and West Bengal. The company is looking to acquire land parcels amounting 300 acres to set up the three units. According to a newspaper report, construction of its proposed West Bengal logistics parks will begin shortly. Flipkart’s closest rival Amazon is also working on improving and expanding its back-end infrastructure and is…

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Greater Noida (West) biggest mall to become operational by June

Gaur City Mall, slated to be the biggest mall facility in the upcoming residential hub (Greater Noida West) in Delhi/NCR is likely to become operational in June. The over 8 lakh square foot mall has been developed by Delhi’s leading realty firm Gaurs Group at an investment of Rs 750 crores. It’s a typical mixed land use project wherein the 20 floors facility will retail outlets on the first 5 floors followed by offices and service apartments and has signed up with Radisson Hotels for an upscale 180 key Luxury…

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Zorambo aims to set up 200 outlets in four years

Zorambo, the emerging Caftaurant chain was formally launched through its first premium outlet at Central Plaza, Golf Course Road, Gurugram last week.  The company is reportedly pursuing an aggressive growth plan, which will see an expansion scaling to 200 outlets in India, UK, Ireland, Germany and Singapore over the next 48 months and plans to hit the 5000 mark by end of 2030 via distribution led model. Zorambo is aiming at consumers who want to discover Indian street food gastronomy with a twist of fusion in the convenience of a…

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