Thought of the Day:
“I am so clever that sometimes I don't understand a single word of what I am saying.”
Oscar Wilde
Did you know?
President Kennedy was the fastest random speaker in the world with upwards of 350 words per minute.
India:
International:
“I am so clever that sometimes I don't understand a single word of what I am saying.”
Oscar Wilde
Did you know?
President Kennedy was the fastest random speaker in the world with upwards of 350 words per minute.
India:
- Etailers Hawk Political Merchandise Before Election: Several online retailers are cashing in on election fervour by selling awide variety of political merchandise, helped along by the willingness of citizens to flaunt their political affiliations. They are hawking a range of personal accessories, home décor and utility items that are branded with images and logos of mainline political parties which will fight it out for the affection of voters this summer. “We just launched our political merchandise category three months ago and are already seeing 30% of daily orders coming from this category,” said Sahil Baghla, founder of merchandise portal BlueGape, who started the business in 2011 while still studying at the Indian Institute of Technology in Kanpur. “We capture the political messaging of a party and present in a glamorous fashion on a product just like we would do for a Bollywood movie star. It appeals to the youth instantly,” said Baghla, 22, who raised . 1.5 crore for his venture last year. Online marketplace Snapdeal that first launched the ‘NaMo’ brand of phones aimed at followers of the Bharatiya Janata Party’s prime ministerial candidate, Narendra Modi, now offers merchandise for followers of the Aam Aadmi Party which include wall clocks and covers for phones and tablets. For BlueGape, customers for Aam Aadmi Party’s caps and Tshirts come mostly from Delhi and Bangalore. Narendra Modi brand of mugs, shirts and clocks are popular amongst customers from Andhra Pradesh and Maharashtra. He added that products with Congress’ development theme or Rahul Gandhi as its ambassador are selling less, due to lack of a strong theme. “Other political parties such as Samajwadi have mixed messaging which makes it difficult to make a merchandise around a theme for them,” said Baghla, who is aiming for 5,000 orders per day by end of this year. Entrepreneurs said the increase in social media usage is leading to greater willingness amongst people to flaunt their political leanings, a dramatic shift from the reticence evident during even the previous general election in 2009.
- Fashion brands taking e-commerce route for India entry: Dorothy Perkins, a UK-based fast fashion brand for the youth, and another fashion label Miss Selfridges are making their India debut in the next few weeks. But unlike brands such as Zara and Forever 21that have opened retail stores mostly in large cities, these brands will be available only via online fashion retailer Jabong.com. As escalating real estate costs and complex regulations delay the entry of foreign brands into India, some brands are choosing to avoid spending millions on stores, marketing and hiring talent, and are instead testing the market by stocking their merchandise with specialist online retailers and marketplaces such as Jabong and Myntra. Arun Mohan, chief executive and co-founder at Jabong.com, said over the past few months the company has had discussions with multiple fashion brands, largely European labels, that are keen on entering India. “These brands were even seeking potential partners to open brick-and-mortar stores, but online seemed to resonate better,” he said. Jabong, backed by Germany’s Rocket Internet GmbH and the UK’s development finance CDC Group Plc, will for now import these products and sell them through a micro-site. Some executives suggested that such associations would only work if the products are made locally as high import duties would make the brands unaffordable for consumers or unviable for the retailers. “You can keep prices reasonable if you have a local sourcing partner, otherwise the customs duties, freight charges and other costs make it prohibitively expensive to sell international brands, even online,” said Arun Sirdeshmukh, chief executive and co-founder at online retailer Fashionara. His company has been approached by international brands and is “trying to work out the economics and the pricing”, he added.
- Lost in a mall? Use maps on phone to find way: If you often lose your way in big malls, help is at hand, literally. Starting today, you can use your smartphone to search for a shop or an eatery in a shopping mall if you happen to live in Mumbai, Delhi or any other big Indian city. Google on Wednesday announced the availability of indoor maps in India. The company said that users of Google Maps on Android, iOS and personal computers can now access the floor plans of 75 places in 22 Indian cities. Most of these 75 places are shopping malls, but museums and convention halls also find a mention in the list. While most of these places are located in big cities, some buildings from Raipur and Ludhiana are also part of the project. “We launched indoor maps in countries like the US earlier. Now we are bringing it to India. We worked with mall owners and authorities that manage a place to get the floor plans and location details and have added that information to Google Maps,” Suren Ruhela, geo product manager for Google India, said. “For now we are starting with 75 places. But as we get feedback from consumers and work with more partners, we hope to add more places.” The indoor maps will be available to consumers immediately. Those who use Google Maps on Android phones or iPhones will be prompted for an update to their maps app and once they have updated app, they will be able to use indoor maps option.
- Saks Fifth Avenue renews interest in India’s luxury market: American retailer Saks Fifth Avenue sent a delegation of senior executives to size up India’s small but fast-growing market for luxury goods last week, evincing renewed interest in a country it first eyed eight years ago. Saks’s senior vice-president of international business ventures David Pilnick, who was accompanied by other senior managers of the retail store chain, met real estate developers, consultants and retailers in Delhi and Mumbai on the visit, according to two people who declined to be named. “The progression in India for a potential market entry and participation in luxury multi-brand retail is very preliminary and exploratory at this point,” an advisory company that represents Saks said in an email reply to questions from Mint. The New York-based seller of high-end apparel, shoes and handbags, beauty products, jewellery and other accessories is among the first multi-brand retailers of luxury products to explore the Indian market, which the government opened up to overseas store chains in August 2012 by permitting 49% foreign direct investment (FDI) in supermarkets and department stores and 100% FDI in single-brand retail, with riders such as the need for local sourcing.
- India's first e-commerce industry awards announced: Prominent players like Amazon.in, eBay.in, BigBazaar Direct, Yepme.com, Flipkart and Jabong have been conferred the first eTailing India e-commerce industry awards. Jabong.com won the 'Online Retailer of the Year' award, while Yepme.com was declared winner of 'Web-only Brand of the Year'. The 'Business to Consumer (B2C) Marketplace of the Year' award went to Flipkart.com and 'Global Online Marketplace of the Year' was given to eBay.in. The 'Pathbreaking Debut of the Year' award went to Amazon.in. The awards were conferred at eTailing India's flagship Conference and Exhibition 2014, an event that brought together major stakeholders in the retail and e-commerce business in the country. Congratulating the winners, eTailing India founder Ashish Jhalani said: "This is an inflection point in time for e-commerce adoption in India. People started buying online because of ease and greater variety. The industry will have to consolidate and give better reasons for people to stay online."
- Luxury industry optimistic about January-March quarter: Wealth-X survey: Despite weak global demand, nearly 80 per cent of luxury industry executives are optimistic about increase in their firms' revenues during the first quarter of this year, says a survey. According to the Wealth-X luxury sentiment survey report released, more than 30 per cent of luxury industry executives expect revenue to rise by more than 10 per cent in the first quarter of 2014. Asia and North America were selected by participants as the locations that are most likely to have the fastest revenue growth for Q1 2014. Around 67 per cent expect that Asia would contribute the largest Q1 2014 growth in the hospitality and services sector. For half of the respondents, North America generated the largest share of their revenue in Q4 2013, followed by Asia with 29 per cent and Europe with 19 per cent. However, for traditional luxury items such as apparel, leather goods and jewellery, Asia was perceived as the main revenue generator; while for the art collectibles and wine & spirits sub-sectors, both Asia and Europe were particularly important, the survey said. Respondents felt that Asia and North America are the two regions most likely to have the fastest growth in terms of luxury goods revenue in Q1 2014. More than 50 per cent of respondents expect Asia to display the largest growth in Q1 2014.
- Raymond partners with Woolmark to launch cool wool summer collection: Raymond Ltd, producer of suiting fabrics, today launched a complete all weather cool wool collection in partnership with the Australian firm the Woolmark Company. The new premium cool wool range has 100 per cent wool fabric as well as blends with natural fibres such as silk, cotton and linen and could be used as trans-seasonal fibre in India which has a tropical weather. Raymond also launched 20 garments collection designed by Gaurav Gupta, which would be introduced in the market by March this year. The company would price the premium cool wool range starting from Rs 1,500 per meter and above, said Raymond officials. "India has tropical climate and customers avoid wearing wool garment in summers as they clearly identify the fabric with winters. Indian customers need to understand the true potential, versatility and the benefits of using wool in summers," said Woolmark Company Global Strategic Advisor Peter Ackroyd. Raymond Chief Marketing Officer Lifestyle Business Mrinmoy Mukherjee said:" This cool wool offerings from Raymond is the output of product engineering that is aimed at widening the appeal of wool towards new consumption possibilities."
- You Need to Stay on Guard Against Online Frauds, Always: Online credit card frauds have come into focus once again after some fraudsters targeted 60 bank customers in Mumbai a few days ago. The fraudsters used others’ credit card information to shop online and ran up huge bills. Though the new Banking Codes and Standards Board of India (BCSBI) code of commitment to customers has put the onus on banks to prove that the fraud occurred due to customer’s negligence, consumers cannot be blasé about it. They should take precautions and report unauthorised transactions immediately to the bank to be on the right side of the law, say experts. Criminals target unsuspecting customers both online and offline. They try to get sensitive information from individuals in many ways. For example, they send emails, claiming to be from a bank or RBI and ask for personal information, bank account or credit card details. They also send mails, asking individuals to share with their bank account details, to claim huge prize money they have won abroad. Another common method is installing malware in public computers to capture sensitive information. Jairam Sridharan, president and head, consumer lending and payments, Axis Bank, asks individuals to avoid using internet cafes to carry out banking transactions. “It is possible that malware, which can capture sensitive information, is installed in those machines. Also, you should not shop on online retailing websites if the security signage or security certification is not displayed,” says Sridharan.
International:
- Prada at Bergdorf Goodman: A Work in Synergy: Beyond the current Prada windows at Bergdorf Goodman, there’s a backstory about a unique partnership. Prada has leased shops inside upscale stores, but that’s not the case at Bergdorf’s, and Prada’s chief executive officer Patrizio Bertelli takes a very hands-on approach to make it happen at BG. “I have personally worked with many of the presidents who have succeeded each other in running the company: Dawn Mello, Jim Gold and now Joshua Schulman, to mention just a few,” Bertelli told WWD. “Our business relationship is based on a constructive collaboration. Each side has always sought to understand the needs of the other, and this approach has determined the success of our work together, in commercial and sales terms, with a double-digit average growth.” Bertelli said Prada and Bergdorf’s “work in synergy in selecting products, with the closest attention paid to the requirements of the market and Bergdorf Goodman’s sophisticated clientele. On many occasions, products have been made especially for Bergdorf Goodman,” he said, citing the Prada women’s spring footwear currently on display. Within BG’s Prada assortment is a selection of four shoe and two handbag styles exclusive to the store for a period before the products arrive at Prada’s own stores.
- Target CIO Beth Jacob Resigns Post: In the wake of a data breach that potentially impacted more than 100 million people and hit its profits and sales, Target Corp. is revamping its information security practices. And it is shaking up the operation’s management in the process. Target said Wednesday that chief information officer Beth Jacob had resigned. She had been in the position since 2008. The discounter is now looking for an interim cio to succeed Jacob. “While we are still in the process of an ongoing investigation, we recognize that the information security environment is evolving rapidly. To ensure that Target is well-positioned following the data breach we suffered last year, we are undertaking an overhaul of our information security and compliance structure and practices,” said chairman, president and chief executive officer Gregg Steinhafel. The ceo himself has been under pressure in the wake of the data breach, but also as the retailer has struggled to recapture its momentum in the U.S. and with its expansion into Canada.
- Tommy Hilfiger to Buy Raleigh Hotel in South Beach: Tommy Hilfiger is negotiating to buy The Raleigh hotel in South Beach. The Miami Beach property has been owned since late 2012 by New York-based developer David Edelstein, who owns the W South Beach, and hotelier Sam Nazarian, who owns the SLS South Beach. “I’m in the process of buying it from them. I’ve always wanted a hotel property. We’re going to turn it into a five-star chic hotel with all the amenities,” said Hilfiger Wednesday. He declined to reveal the partners in his investment group. The Raleigh, which is located on Collins Avenue and 18th Street, is the first step toward launching Hilfiger Hospitality — a hospitality experience centered on fashion, art, music and entertainment. Hilfiger said he’s exploring one-of-a kind properties in gateway cities in key U.S. markets, as well as international markets. Hilfiger said he expects to close the Raleigh deal sometime next month and will keep the Raleigh name. The Raleigh is a landmark Art Deco hotel that was built in 1940 during the area’s hotel boom. Sources estimate the cost of the hotel around $100 million. The beachfront property has 100 rooms, a pool and several restaurants. “We will create a whole new dining experience,” said Hilfiger. He said the hotel “needs a full redo. It’s a bit dated.” The onetime André Balazs-owned property was bought by Brilla Group in 2009 before being sold to Edelstein and Nazarian.
- Anita Barr Joins Harvey Nichols: Anita Barr has been named group fashion buying director at Harvey Nichols, and will take up her role on March 31, the store said Wednesday. Barr will be responsible for women’s wear, men’s wear, and accessories. She will succeed Paula Reed, who resigned her post last October after a little more than a year on the job. Barr will report to the store’s chief executive, Stacey Cartwright, who took up her role last month. Barr has held senior positions in buying and merchandising at Harrods and Selfridges. Most recently, she was global product merchandising director at AllSaints.
- Jack Nicklaus Apparel to Launch at J.C. Penney: Jack Nicklaus gives new meaning to the words hands-on. The man widely viewed as golf’s greatest player, now 74, can tick off the licensee, the designaesthetic and even the fabric content of his apparel offerings through the years, starting with Revere in Boston in 1961 to Hartmarx in 1967 and now Perry Ellis International. PEI acquired the license earlier this year and the merchandise will be introduced at 470 J.C. Penney stores on Friday. It will roll out to 600 units for fall. According to Howard Milstein, who bought a minority interest in the golfer’s Nicklaus Cos. in 2007, apparel sales alone are expected to eventually become a $1 billion business. Already, there are 900 Jack Nicklaus boutiques in Japan, bringing in $100 million in sales, and another 100 in South Korea, which account for an additional $50 million in volume. The company is seeking a partner in China as well, as it strives to reach its lofty goal.
- Message in Facebook’s Drone Shopping: In recent comments about the $19 billion purchase of WhatsApp, Facebook Chief Executive Mark Zuckerberg said that people shouldn’t expect any new flashy acquisitions in the near future. After spending that kind of money, he said, “you’re probably done for a while.” But reports have the company closing in on a deal that is much less flashy in financial terms but far more so in technological wondrousness. Facebook is reportedly negotiating an acquisition of Titan Aerospace, a tiny company in New Mexico that is constructing a pilotless, solar-powered plane designed to stay aloft for five years at a stretch. The deal would help bolsterFacebook’s Internet.org project, which is intended to expand access to areas that are currently offline. Titan hasn’t responded to a request for comment, and a spokesperson for Facebook said the company doesn’t comment on speculation.
Currency:
· 1 USD= ₹ 61.493
· 1 EUR= ₹ 84.406
· 1 GBP= ₹ 102.767
· 1 AUD= ₹ 55.450
Glitter Meter: India
Gold (INR/10g) | Silver (INR/kg) | |||
City | Current | Change | Current | Change |
Chennai | 30670.00 | -70 | 47325.00 | -65 |
Mumbai | 30190.00 | -70 | 47325.00 | -65 |
Delhi | 29940.00 | -70 | 47325.00 | -65 |
Kolkata | 30060.00 | -70 | 47325.00 | -65 |
World Indices:
Exchange | Last | Change |
DJIA | 16360.18 | -35.70 |
FTSE 100 | 6775.42 | -48.35 |
CAC 40 | 4391.25 | -4.65 |
DAX | 9542.02 | -47.13 |
Nikkei | 14954.48 | +56.85 |
Hang Seng | 22641.01 | +61.23 |
Sensex | 21318.34 | +41.48 |
NASDAQ | 4357.97 | +6.00 |
*Disclaimer:
World One Consulting Pvt Ltd will not accept any liability for loss or damage as a result of reliance on the information contained within this newsletter including data, quotes, charts and buy/sell signals.
World One Consulting Pvt Ltd will not accept any liability for loss or damage as a result of reliance on the information contained within this newsletter including data, quotes, charts and buy/sell signals.