Magazines Archives - 2010 January

Retail opportunities abound in India and China
Story 8 - Focus

India’s overall retail sector is likely to grow to US$419.93 billion by 2015, according to a recent report from the consultants at McKinsey.

Adding their own views, global real estate advisors at CB Richard Ellis say India has moved up to the 39th most preferred retail destination in the world in 2009. It was 44th in 2008. The organised retail segment’s turnover is pegged at around US$8.1 billion. It is expected to reach US$51 billion by 2010.

Retail opportunities, Technopak Advisors maintain, are slated to riseby about US$160 billion in five years. In urban India, modern retail is likely to grow from 9.6% of total retail to 26% in the next five years.

India’s retail players, both big and small, are rushing in to get a bigger slice of the expanding pie. For instance, Reliance Digital, the consumer durables arm of Reliance Retail, plans to invest about
US$22.5 million in the current fiscal to roll out 31 stores across India.

How are the key international firms responding to these developments? Geneva-based luxury watch brand Hublot, from the Louis Vuitton Group, is looking to set up exclusive brand boutiques in the country this year.

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