MUMBAI: The Tata group said there have been no talks with UK’s biggest retailer Tesco, which was jilted at the door by the Sunil Mittal-owned Bharti Enterprises, who preferred an alliance with Wal-Mart.
Says R K Krishna Kumar, director, Tata Sons: “There have been no discussions with Tesco. Let me tell you that we are very happy with Woolworths (the Australian chain) and they will remain our first preference.”
He said it’s too early to talk about entering into other formats of retailing, pointing out that Trent has done very well managing different formats such as the Star India Bazaar hypermarket, apparel store Westside and books and music chain Landmark.
“We can’t have two companies from the same business house existing in one format and competing for the same market,” Krishna Kumar said.
He was speaking after the inauguration of the second Croma store in the Malad west suburb of Mumbai on Thursday evening. Excerpts from an interaction:
Are you acquiring the southern chain Viveks?
We are looking for scale and size in this segment to derive synergies. No options are ruled out. If an opportunity comes as we expand, we would definitely go for acquisitions that make commercial sense.
What about the acquisition of Himalayan water brand?
The mineral water segment has lot of strategic business value for us. We are looking forward to entering it, but as I said earlier, acquisitions will be based on opportunities that have a commercial value.
Has the Singur controversy deterred or delayed your plans of the Rs 1 lakh car?
Let me put it very categorically. We are committed to rolling the small car out by 2008. I must say the West Bengal government has stood strongly behind us in this. The House of Tatas hasn’t done anything that is against the wishes of the common people. There are some vested interests who have made it a political issue.
What about the group’s plan to enter real estate?
Well, as you see, expansions need huge real estate investment, especially in the retail sector. We are exploring the idea. On the controversy over FDI limit in the retail sector
I think we are taking a very short-term view of things.
Let us accept the fact that unlike China, ours is a democratic process and decisions have to made through consensus. Global forces are opening up the economy and in future we will see lot of changes in the Indian retail sector.
There will be a surge in demand from Tier-II and Tier-III cities. The rapidity of changes will force the industry to see merit in FDI and I am hopeful that limit will increase as our size of economy grows further.
source : DNAINDIA
Says R K Krishna Kumar, director, Tata Sons: “There have been no discussions with Tesco. Let me tell you that we are very happy with Woolworths (the Australian chain) and they will remain our first preference.”
He said it’s too early to talk about entering into other formats of retailing, pointing out that Trent has done very well managing different formats such as the Star India Bazaar hypermarket, apparel store Westside and books and music chain Landmark.
“We can’t have two companies from the same business house existing in one format and competing for the same market,” Krishna Kumar said.
He was speaking after the inauguration of the second Croma store in the Malad west suburb of Mumbai on Thursday evening. Excerpts from an interaction:
Are you acquiring the southern chain Viveks?
We are looking for scale and size in this segment to derive synergies. No options are ruled out. If an opportunity comes as we expand, we would definitely go for acquisitions that make commercial sense.
What about the acquisition of Himalayan water brand?
The mineral water segment has lot of strategic business value for us. We are looking forward to entering it, but as I said earlier, acquisitions will be based on opportunities that have a commercial value.
Has the Singur controversy deterred or delayed your plans of the Rs 1 lakh car?
Let me put it very categorically. We are committed to rolling the small car out by 2008. I must say the West Bengal government has stood strongly behind us in this. The House of Tatas hasn’t done anything that is against the wishes of the common people. There are some vested interests who have made it a political issue.
What about the group’s plan to enter real estate?
Well, as you see, expansions need huge real estate investment, especially in the retail sector. We are exploring the idea. On the controversy over FDI limit in the retail sector
I think we are taking a very short-term view of things.
Let us accept the fact that unlike China, ours is a democratic process and decisions have to made through consensus. Global forces are opening up the economy and in future we will see lot of changes in the Indian retail sector.
There will be a surge in demand from Tier-II and Tier-III cities. The rapidity of changes will force the industry to see merit in FDI and I am hopeful that limit will increase as our size of economy grows further.
source : DNAINDIA
Last edited: