www.indiaretailing.com
`50 US$10MAY 2013 • VOL. 12 NO. 5
INDIA’SBEST SELLING
MAGAZINE ON MODERN
RETAIL
Department Stores
ENTREPRENEURMeena BindraChairpersonBibaGoing Big with Biba
RETAIL EXCELLENCEVed Vyas ChhabraFounderTouristorWalking on a Success Path
What Lies AheadWhat Lies Aheadforfor
in India?in India?
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w w w . i n d i a r e t a i l i n g . c o m
It’s been two decades that department stores have become a major part of organised retail scenario in India. The concept is popular throughout the country as customers get a plethora of choices under various categories, thereby fulfi lling their aspirations.
Since inception, Indian retailers have innovated and improvised on the department store concept. Though heavily infl uenced by global trends, retailers try to stay true to Indian ethos and are constantly tweaking their strategies offerings to suit this diverse market. As a part of the series on retail formats in India, let’s get up close and personal with department stores and their progression in India.
The Indian department store chains are ready to take on challenges from global retail players post FDI liberalisation. Ultimately, a successful retailer is one who understands his customer. The customer should feel that it is a part of his culture, his perceived values, and does not try to impose alien values or concepts on him. In fact a local feel with global appeal seems to be the mantra for these chains.
The future shows tremendous potential for growth in the retail sector. Almost all large companies worldwide are looking to establish a base or stake in the Indian market. In this scenario, the Indian retail sector itself must seize the initiative to realise the dreams of contributing to a prosperous and booming economy.
Stay tuned to the next issue which will throw light on the cash-and-carry format and map its growth trajectory.
MAY 2013 • PAGES 96 • VOL. 12 NO. 5
Editor in Chief Amitabh Taneja CEO Jayant Kochar Editorial Director R S Roy Publisher S P Taneja
Editorial Editor in Charge Payal Gulati (Asst. Editor) Chief of Bureau (Bangalore) Rajeev Kumar (Assoc. Editor) Copy Editor Shipra Sehgal Sr. Correspondent (Delhi) Avinder Batra Sr. Correspondent (Mumbai) Shanti Padukone Correspondent (Kolkata) Shahona Dutta Correspondent (Bangalore) Roshna Chandran
Creatives Art Director Pawan Kumar Verma Dy. Art Director Deepak Verma Asst. Art Director Mohd. Shakeel Layout Designer Rakesh Kumar Sr. Photographer Vipin Kardam
Circulation & Support Assoc. VP - Circulation Anil Nagar General Manager – Consumer Connect Hemant Wadhawan General Manager – Administration Rajeev Mehandru Sr. Manager – Circulation R P Singh Dy. Manager – Circulation Rajesh Kumar Sr. Executive – Subscriptions Kiran Rawat
Production General Manager Manish Kadam Sr. Executive Ramesh Gupta
KOLKATA:Piyali Oberoi, assoc. vice [email protected].: +91 9831171388
Rohan Narayan, asst. [email protected].: +91 9830961388
BANGALORE:Suvir Jaggi, assoc. vice [email protected].: +91 9611127470
LUDHIANA:Hemant Gupta, [email protected].: +91 9814019745
DELHI:Mansi Chawla, assoc. vice [email protected].: +91 9899900399
Naveen Chauhan, dy. [email protected].: +91 9891390763
Mohd. Iqbal, asst. [email protected].: +91 9871249479
MUMBAI: Bindu Pillai, sr. gen. [email protected].: +91 9820324063
Nayan Shetty, sr. [email protected].: +91 9892769533
Chandan Singh, sr. exec.- [email protected].: +91 9769653976
ADVERTISINGBUSINESS HEAD
Waseem Ahmad, vice [email protected].: +91 9833628852
Anjali Sondhi, [email protected].: +91 9810204297
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CONTENTSMAY 2013
IN THIS ISSUE
Entertainment ..............................................34“We create an experience that cannot be replicated at home”
Gautam Dutta of PVR talks about the relevance of innovation in
gaming industry and the key learnings in the business
Retail Excellence .........................................37Walking on a Success Path
Kolkata-based footwear retailer Touristor is bullish on expanding
nationally
Entrepreneur ................................................40Going Big with Biba
Success story of Meena Bindra, Chairperson, Biba
Profi le ..........................................................60Delsey’s Second Inning in India
Post re-entering Indian market in 2011, Delsey is aggressively rolling
out expansion plans
Regional .......................................................64Local Retailers in Northeast Look for Opportunities
Understanding the potential, support requirements and challenges of
the Northeast India to boost the retail business
Fashion .........................................................68Shreem Jeweler
Shreem Jeweler entered the retail business last year and plans to
expand its footprint in North India
Expert Speak.................................................70The Starbucks Learning Curve
What budding retail chains in India should learn from the speciality
coffee giant Starbucks
Learning ........................................................7410 Things Walmart Doesn’t Want Other Retailers to Know
Lessons you can use to turn great services into your store’s
competitive advantage.
Opinion .........................................................80Think Creative and Create Excitement for Customers
Retailers across various segments are required to think creative in
order to entice customers to shop more
Technology ...................................................82Traceability in Food Retailing: A Buffet of Options
How technology can help the food retailers in signifi cantly improving
their supply chain
Design ..........................................................86It’s All About Design
Manuu Mansheet analyses retail stores based on his expertise in VM
and retail design
Online Retail .................................................90Merchant Credit Card EMI: Driving Sales in Retail
How merchant credit card EMI has grown sales of products on EMI
10 ............................... International Round Up
16 .........................................National Updates
30 ..............................................New Openings
92 .............................Personality of the Month
94 .............................................................Index
R EGULARS
Cover Story 46
MODERN INDIAN DEPARTMENT STORES HAVE EVOLVED SIGNIFICANTLY IN THE LAST DECADE. THESE PLAYERS HAVE NOT ONLY REALIGNED THEIR PRODUCT OFFERINGS BUT ALSO HAVE MOVED FORWARD TOWARDS PROVIDING OTHER VALUE ADDED SERVICES SO THAT THE CONSUMER KEEPS COMING BACK TO THEIR STORES. IMAGES RETAIL GETS UP CLOSE AND PERSONAL WITH SOME OF THE MAJOR DEPARTMENT STORES IN INDIA AND ALSO TAKES A CLOSER LOOK AT WHAT LIES AHEAD
WHAT LIES AHEAD for
DEPARTMENT STORES in India?
Cover Photo Credit:Lifestyle, Ambience Mall, Vasant Kunj, New Delhi
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MAY 2013 . IMAGES RETAIL . 37
KOLKATA-BASED FOOTWEAR RETAILER, TOURISTOR WAS LAUNCHED IN 2004, WHEN THEY OPENED THEIR FIRST STORE IN BHUBANESWAR AT THE FORUM MART. THE BRAND HAS STEMMED OUT OF THE PARENT COMPANY KNOWN AS BHARAT SHOES. AND, JUST IN A SPAN OF 10 YEARS, TOURISTOR HAS BECOME A NAME TO RECKON WITH. THE COMPANY CURRENTLY HAS 31 OPERATIONAL OUTLETS AND IS BULLISH TO EXPAND NATIONALLY. THE BRANDED FOOTWEAR INDUSTRY WILL GROW BY LEAPS AND BOUNDS IN COMING FEW YEARS, BELIEVES VED VYAS CHHABRA, FOUNDER OF TOURISTOR
By Shubhra Saini
The footwear market in India is estimated to be around `52,000 crore and it is growing at approximately 12-15 percent per annum. The urban centric educated youth today are more fashion conscious and they now consider footwear as an integral part of their attire. This has created a demand for different styles of footwear in order to match one’s dress for different occasions.
Footwear retailing is fast switching from traditional to modern organised way. New brands have entered the scene with organised retailing concept to meet the growing demand. Consumers have become more
Walking on a Success PathVed Vyas Chhabra, Founder, Touristor
knowledgeable as well as choosy because they have more options to look at and buy; therefore, customer service both sale and post sale is important. The brands are seriously looking at it and adopting various means to provide better customer service for brand recall. Furthermore, online shoe selling has picked up in the recent years and is growing at a very brisk pace.
Matching up with the pace of time, Touristor stepped on the bandwagon almost a decade back, when they chose to go with more contemporary way of retailing, which was to stock all the leading brands and create an
MBO of their own. The company has history in footwear retailing with their earlier brand called as “Bharat Shoes.”
Talking about their USP and marketing techniques, Chhabra says: “Touristor is positioned to cater mid- and high-mid urban centric consumers. It is equipped with product for every member of the family; in a way Touristor outlets are more of a family stores, but our
retail excellence
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entrepreneur
40 . IMAGES RETAIL . MAY 2013
Going MEENA BINDRA, CHAIRPERSON, BIBA, SET OUT ON HER ENTREPRENEURIAL JOURNEY IN 1980S WITH A LOAN OF `8,000, GIVING THE COUNTRY ITS FIRST TRYST WITH READY-MADE SALWAR-KAMEEZ. HER PASSION FOR DESIGNING PAVED THE WAY FOR THE VENTURE WHICH STARTED WITH 30-40 BLOCK-PRINT SUITS PRICED AT `175 EACH. FROM MAKING HER “PUNJABIS” A HIT IN MUMBAI TO DRESSING UP BOLLYWOOD DIVAS SUCH AS SHARMILA TAGORE, BINDRA SHARES HER STORY IN HER OWN WORDS WITH TRIPTI BISHT
A Technopak report published in November 2012 pegged the size of Indian ethnic wear market at `56,800 crore and estimated it to achieve a 10 percent growth rate till 2015. The report also highlighted that sarees, salwar-kameez, and kurtis were among the fastest-growing categories in India with the size of salwar-kameez market in the country estimated at `20,700 crore.
When Meena Bindra started the Biba journey in 1980s introducing the concept of ready-made salwar-kameez in India, she had no clue that her simple idea would turn into a huge market one day. The Indian women’s wear ethnic retailer currently has 105 outlets in 43 cities. Large-format stores such as Shoppers Stop, Pantaloons, Lifestyle, and Central also stock Biba’s merchandise. The brand has expanded its product portfolio from salwar-kameez to unstitched suit pieces, mix-n-match stuff, and kidswear range (for 2-12 years) to widen its customer base.
Big with
Biba
Meena Bindra, Chairperson, Biba
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entrepreneur
MAY 2013 . IMAGES RETAIL . 41
AN IDEA STITCHED IN TIMEI had ample of free time with an urge to do something on my own. Having the need for extra money and holding just a graduate degree, I came up with the idea to start something from the house only which would not require much investment. I decided to make a few suits as I was always interested in designing. My husband, who was in the Indian Navy, arranged for a bank loan of `8,000 to start my business in Mumbai.
Being a stranger to the city, I booked a cab and asked the driver to take me to the wholesale market. I looked around, bought some plain fabric, and that’s how it started. A friend then introduced me to a good printer who had a big factory. I took my fabric and got the block printing done. With a tailor in place, I managed to get about 30-40 basic suits stitched which were priced at `175 each. They just had nice block prints with a cotton dupatta. The absence of ready-made wear, Indian fashion industry, malls, and retailers during that time helped my venture. Every city had only some local two-three well-known retailers such as Kala Niketan and Roop Kala in Mumbai who had been there for 30-40 years.
Initially, I was only making salwar-kameez or sometimes elaborate kalis. I did a design that had 72 kalis, but most of my suits were plain and simple. People in Mumbai were not aware of the Punjabi suits that well. The city was full of rich Gujaratis, Marwaris, Parsis, and Sindhis. They all wanted to wear suits but din’t know what they were called; so a lot of Parsi and Marwari women would come to my house for these suits and say “Mrs. Bindra, can we see your Punjabis?” So the name for these salwar-kameez became Punjabis. Now wearing salwar suits is nationally accepted. I would say salwar-kameez had a good role in integrating the whole nation.
LUCKY BREAKMy fi rst exhibition was held at my brother’s vacant fl at. With 30-40 suits for sale, I invited a few naval friends and some other people. The response was very encouraging as most of my suits got sold and there were a lot of orders. An interesting thing is that I had spent only 50 percent of my seed capital thinking of any probable loss. I re-invested the money earned so 40 became 60 suits, and 60 became 100. Within 6 months, I had about 500-600 suits as my stock. By then, lot of people had come to know about my venture. Then I experimented tie-die with block printing, gold khadi, silver khadi, etc, which were all great success and total sell out. With my earnings, I returned `4,000 to the bank.
BOLLYWOOD MERCHANDISING I was lucky to get a very good clientele. My house was at Cuffe Parade, Mumbai. We were the pioneers in Bollywood merchandising and contributed in the growth of the industry. We did 12 Bollywood projects. Also, actresses such as Sharmila Tagore and Asha Parikh who were at the peak of their careers that time shopped from me. Apart from Bollywood, my early clients included top business families such as Rahul Bajaj’s wife, who would come from Pune to buy my stuff. I had a very large fl at almost 5,000 sq.ft. There were three big servant quarters behind it. I converted one of those rooms into my store. For almost eight to nine
An average salwar-kameez of Biba costs `3,000. The starting price for its average mix-n-match kurta is around `899
Biba aims to be `500 crore turnover company by the next year
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cover story
46 . IMAGES RETAIL . MAY 2013
WHAT LIES AHEAD for
DEPARTMENT STORESin India?
MODERN INDIAN DEPARTMENT STORES HAVE EVOLVED SIGNIFICANTLY IN THE LAST DECADE. THESE PLAYERS HAVE NOT ONLY REALIGNED THEIR PRODUCT OFFERINGS BUT ALSO HAVE MOVED FORWARD TOWARDS PROVIDING OTHER VALUE ADDED SERVICES SO THAT THE CONSUMER KEEPS COMING BACK TO THEIR STORES. IMAGES RETAIL GETS UP CLOSE AND PERSONAL WITH SOME OF THE MAJOR DEPARTMENT STORES IN INDIA AND ALSO TAKES A CLOSER LOOK AT WHAT LIES AHEAD
By Priyanka Dasgupta and Rajeev KumarWith knowledge support from Wazir Advisors and ASIPAC
It’s been two decades that department stores have become a major part of organised retail scenario in India. The concept is popular throughout the country as customers get a plethora of choices under various categories, thereby fulfi lling their aspirations. Department stores in India mostly replicate their Western counterparts in terms of store concept, layout, and designs. For instance, Indian stores such as Shoppers Stop and Westside exude Western look and feel. These stores are usually multi-storied, with different fl oors catering to different business verticals. However, apparel usually forms a major proportion of
sales for Indian department stores. Again while some offer multiple brands under one roof, others concentrate more on private labels.
GLOBAL TRENDSInternationally, department stores are large and have an average trading size of around 80,000-1,00,000 sq.ft. In terms of merchandise, there are two major categories of department stores: • Stocking mostly a range of private
label products, e.g., Marks & Spencer
• Stocking a wide range of national brands, e.g., Kohl’s
However, internationally we are
seeing a shift in the trend. According to the industry experts, future department store is already morphing from a place to buy goods into a hub of entertainment. Macy’s, for example, is already planning the shift, which could eventually mean fewer stores, even in its headquarters at Cincinnati in the US.
Also, experts feel that department stores will incorporate newer technologies. Retailers will increasingly change pricing and store
Cover Story-DEPARTMENT STORES in India--Final.indd 46 5/1/2013 3:34:53 PM
cover story
MAY 2013 . IMAGES RETAIL . 47
any single brand never gets enough space to offer the complete range it could otherwise have offered in an EBO. At the same time, there are times when the depth is not available for the products being offered.
According to international standards, department stores in India such as Shoppers Stop and Lifestyle are multi-brand stores. Others like Pantaloons and Westside have more private label offerings.
As far as the product offering goes, apparel and fashion retailing forms a major chunk of revenues for the major Indian department stores. This category is considered to be the pioneer of modern/organised Department retailing in India. Clothing and fashion has witnessed an uptrend in the recent years supported by a large market of young consumers, rising fashion awareness and increase in income levels. With rapid urbanisation, brand-conscious behaviour, initially restricted to men’s apparel, has also caught up with women’s and kidswear apparel as well. Gradual shift from the traditional “bespoke tailoring” to ready-made wear due to convenience and larger
choice prompted the increase in purchase through Department stores.
Another interesting feature associated with the Indian Department stores is the increase in private labels. Retailers have realised that the most important engine to drive both growth and profi tability is building private labels. In a highly competitive retail scenario, where operating costs are high and margins under pressure, private labels offer margin of safety. Since they are brand-owned, merchandised and sold by the retailers
In India, large department stores always presented consumers with a greater choice under one roof. A large-format store typically has a great number of brands together in each category. Wherever there is a gap in positioning, the retailers have tried to add private label, primarily to give a wider choice to the consumers across price positioning. While these stores have been successful to provide choice to the consumer, ensuring a good shopping environment, they fail on certain parameters. In most cases,
windows several times daily, attracting different kinds of shoppers. But retailers aren’t just using technology and games to engage shoppers. Expert advice, exclusive merchandise from private label designers and personal services, from shoe shines to manicures, are fi nding their way into the department stores.
INDIAN SCENARIOA large retail establishment offering a wide variety of merchandise, across diverse brands, providing large depth in each product category can be called a department store. Organised into different departments, these stores offer diverse categories such as clothing, furniture, home appliances, toys, cosmetics, gardening, toiletries, sporting goods, food, books, jewellery, electronics, stationery, photographic equipment and baby and pet needs at variable pricing. Discounting is usually, but not necessarily, a part of this retail strategy.
Key International Department stores:Retailers Country of Origin No. of Outlets No. of Countries Typical Store Size Range (Sq ft.)
Kohl's USA 1,146 US 70,000-75,000
Marks & Spencer
UK 1012 UK Europe, Middle East,
Asia
100,000-1,50,000
Sears USA 950 USA and Canada 70,000-1,00,000
Macy’s USA 800 USA 100,000-1,40,000
Debenhams UK 167 28 70,000-90,000Data Source: Company reports, Media articles and Wazir research
Cover Story-DEPARTMENT STORES in India--Final.indd 47 5/1/2013 3:34:56 PM
profi le
60 . IMAGES RETAIL . MAY 2013
Delsey’s Second Innings in IndiaAFTER ENDING THEIR DECADE-OLD MARRIAGE WITH VIP, DELSEY, THE WORLD’S SECOND LARGEST PRODUCER AND SELLER OF LUGGAGE AND TRAVEL GOODS, RE-ENTERED THE INDIAN MARKET IN 2011. ON THE BACK OF ENCOURAGING RESPONSE RECEIVED FROM THE INDIAN CONSUMER AS COMPARED TO THE TARGET SET FOR THE FIRST YEAR, THE COMPANY IS AGGRESSIVELY ROLLING OUT ITS PRESENCE IN THE METROS AND EMERGING CITIES TO OCCUPY THE NUMERO UNO POSITION IN THE INDIAN LUGGAGE MARKET
By Rajeev Kumar
The fortunes of the Indian luggage retail segment are tied to the travel and tourism industry. The World Travel & Tourism Council (WTTC), a global business leaders’ forum for travel and tourism which works to raise its awareness as of one the world’s largest industries, estimates that $1 mn spending in travel and tourism generates $1.3 mn GDP in India. This underscores its linkages with the rest of the economy.
The luggage market in India has been growing steadily over the past few years due to the increasing disposable income levels, rise in the number of air travellers, the expanding number of retailers and specialty stores all over the country and luggage fast turning into a lifestyle product rather than something utilitarian. According to market estimates, the Indian luggage market is currently pegged somewhere between `3,000 and `4,000 crore, out of which around 65 percent is unorganised. The organised market is dominated by VIP (60 percent share) followed by Samsonite. The
fast-growing Indian market is also attracting other international players to grab a pie of the Indian luggage market.
The latest entrant in the branded luggage market is the French luggage brand Delsey. Although the company was present in India since 2001, through a licensing agreement with VIP, it has decided to go solo after both the partners parted ways in 2010. Currently, it has entered into a joint venture with an Indian partner. “It is important for us to have a partnership because we think we know some things about how to design, produce and sell luggage, but we don’t know much about the Indian market and as such we needed a reverse partner who has a long experience in retailing,” says Frédéric Cachera, Delsey’s Global CEO.
Since its inception in 1946, Delsey has been a creator of baggage. For more than 65 years, the brand has been offering both personal and professional luggage for travellers. Today Delsey is present in 5 continents and in more than 130 countries.
CUSTOMER PROFILEDelsey designs baggage for both business and leisure travel and caters to families, couples, businessmen and women. In India, the brand wants to target upper middle to upper social strata. “Well we are very clearly a medium to premium brand. We are not low price and we think there is pretty good business to be done worldwide by addressing the medium to upper social classes,” says Cachera.
According to him: The higher economic growth in the last decade has given fi nancial freedom to consumers. They are not just being quality conscious but also price conscious.
PRODUCT RANGEThe company’s product portfolio is broadly stacked under two heads including travel collection and business collection, alongside a range of travel accessories. The travel product range includes Helium, U-lite and All Around collections. The Helium collection made from polycarbonate material consists of
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MAY 2013 . IMAGES RETAIL . 61
CURRENT TRENDSIndia is traditionally being considered a hard luggage market. However, the country has witnessed a drastic change in the last decade. Now, luggage is no longer considered a functional product that people buy for 10-15 years. Indian consumers have become increasingly fashion conscious where aesthetics and attractive colours have started playing a major role in their decision-making. Earlier a lot of luggage bought was during weddings. This trend has slowly shifted towards need-based buying. Another important trend among the Indian consumers is a shift
in preference towards soft luggage from hard due to convenience and price factors.
Delsey India is best placed to tap the Indian market with its offerings due to rising demand for branded and premium goods. The Indian consumer today would not hesitate to loosen his purse strings in return for value for money. With more and more women also entering the workplace, many of the new travel goods are being specifi cally designed for women, including portfolios and laptop bags. In addition, there are new luggage lines featuring special sections for toiletries, cosmetics, shoes and other items that enable female travellers to travel more conveniently.
However, the company will face stiff competition in India from its erstwhile partner, VIP, which controls more than 50 percent of the market share. “We don’t want to comment too much about competitors because, you know, the sun shines for everyone. I am not sure that besides Samsonite we can consider anyone else as competitor. The reason being that we are the second largest brand in the world with a worldwide set-up. VIP to my knowledge is very strong in India and Carlton internationally has not broken through. Samsonite is really someone that we need to keep an eye on. But we need not copy what they are doing or else we
Frédéric Cachera, CEO, DELSEY SA
The company believes that a franchisee is in a better position to understand the taste and demand of local customers
both ultra-light and extremely sturdy suitcases distinguished for its sleek and lightweight design. It is priced between `6,000 and `19,000.
On the other hand, the U-lite collection is designed according to the latest fashion trends. The range includes suitcases, duffl e bags, and toiletry cases and is available within the price range of `2,000 to `14,000. Made from polycarbonate material, the All Around collection inspired by the designs and colours from the 1970’s decade. The ticket size for this category ranges between `8,000 and `19,000.
The business collection includes Quarterback and DLC collection. Quarterback collection is a comprehensive range of professional backpacks available within the price range of `9,000 to `14,000. DLC range is a fl exible and ultra lightweight business luggage available for both men and women. The accessories range is made up of various luggage add-ons such as foldable rucksacks, expandable suitcase covers, padlocks, luggage scales, luggage straps, and travel pillows, among others.
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