Innovative business practices are a must to sail over recessionary period. Recently the veterans of the Indian industry were asked to rate on some interesting concepts unfolding in the sector which started mainly in the past 12 months. The criteria for choosing the same was
- Paradigm shift from unorganized to organized and should be convenient and customer friendly
- Should contain some ethnicity of Hindustan driven by self efficient model revenue
- Meets cost, wide choice availability with scalable business model
- Format should be capable of being placed @ mall and could be built on employee entrepreneur model.
The top 10 emerging retail businesses as selected by the veterans are as follows [No particular order]
CarNation Auto: Started by former Maruti Suzuki MD, setting up state of the art integrated multi-brand auto sales, services and related solution hubs across India. Goal is to bring Automobile Service providers under standardized business model. Started in Q1-2009, already has 10 outlets.
Down to Earth:Upcoming brand in the most sought after sector – Organic Food. In March-09, the company launched its first store in Tardeo, Mumbai. Over 300 SKUs @ the store. Backend investment of over Rs 100 cr for creating capacities of production and the Tardeo store has cost the company Rs 10 crore.
Bakers Street: A somewhat exception to the Indian rule as this Dabur’s Burman funded company is involve in retailing premium European style bakery cafe exclusively serving La Tazzadoro, the finest Italian coffees.
Fashion Yatra:Tata Group’s retail wing has taken a plunge into this store with the theme – Offer goods at the Best Value for Money. First store was opened in Kalyan in October-2008 with SKUs for Men, Women, Kids and not to forget footwear and fashion accessories. Will expand in Tier-II and Tier-III cities only.
We still have 6 more left to cover, but we would like our readers to guess on the same. Hint – One of them Promoted by Pioneer of Indian Retail [See the Pic above]. Other is promoted by large Industrial House from Mumbai and caters to Women and Babies. Should be easy guys, come on 🙂