abhishreshthaa
Abhijeet S
In last couple of years this industry has made agile move from its nascent stages. Organized retailing started picking up in Southern India. Availability of land at prime locations coupled with cheaper real estate prices (compared to Mumbai & Delhi) made it possible to have multi stored shopping complexes here.
It took two years of recession to get this concept of shopping to major cities like Mumbai & Delhi. Recession brought property prices down in these cities. It was during this period of industry slump that big business houses took notice of the potential in retailing.
A classic example being- Lakme Ltd. The company after selling off its cosmetic division to HLL, made an aggressive foray into retailing. Its retail chain branded ’Westside’ already comprises 4 stores- one each in Bangalore, Hyderabad, Chennai and Mumbai.
A cash hoard of Rs107bn will enable Lakme to roll out stores aggressively. The company plans to open 10 stores by December 2000.
It took two years of recession to get this concept of shopping to major cities like Mumbai & Delhi. Recession brought property prices down in these cities. It was during this period of industry slump that big business houses took notice of the potential in retailing.
A classic example being- Lakme Ltd. The company after selling off its cosmetic division to HLL, made an aggressive foray into retailing. Its retail chain branded ’Westside’ already comprises 4 stores- one each in Bangalore, Hyderabad, Chennai and Mumbai.
A cash hoard of Rs107bn will enable Lakme to roll out stores aggressively. The company plans to open 10 stores by December 2000.