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AT Kearney,s 2005 Global Retail Development Index records show that Indias retail market is estimated to grow at $ 330 billion which is expected to grow at 10% a year. Other existing competitors are developing their retail business and others are getting into multibrand retail stores. Hindustan Lever, which is the consumer goods giant, has joined the retailing league by starting Kwality Walls Parlour.Vijay Sales and Raymond Plug-Ins dominates the consumer electronics venture. Organized Retail Sector is dominated by RPG group where the outlets are Food World, Music World , Health and Glow .Oswal Group the 300 crore retail player has entered in to settling up the first ever brand intimater wear retail chain , called"Sensa" which is the exclusive branded lingerie retail chain in india to claim the firm foothold over national and international brands. Loft the speciality footwear is a commanding player in footwear retailing. Sensa is coming up with 3 stores in Mumbai and it already has 5 stores in india wherein four are in Delhi and one is in Banglore. The first outlet is going to have its opening in andheri-lokhandwala than to be followed by Bandra linking road and later on in worli. Company has planned to have 25 stores in 34 locations by march 2006, that includes Pune and Ahemdabad." Due to the absence of specialized lingerie outlet we saw a conspicious need for lingerie retail chain. " says; Mr Adish of Oswal Group. He further explained that Sensa would have more consumers because lingerie sales in India has shoot up by 36% in the last 2 years due to many aspects. The group has further planned to open 40 stores at the end of the next year and 120 by the end of 2008-09. Investment in the stores has been to the tune of 9 crore and total capex set aside for the project is Rs 30 crore. KSA Technopak study reports say that by 2009 the lingerie market in India is expected to grow by almost 70% . Organised Lingerie Market in India is worth 2,000 crore with a compounded annual growth rate of 15% year-on-year. |
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| Posted : 9/19/2005 |
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