NEW DELHI — Six months after it parted ways with Indian partner Bharti Enterprise Ltd., Wal-Mart Stores Inc. has made a comeback, revealing plans to open 50 cash-and-carry stores in India.
The format, which sells wholesale and not direct to consumers, is expected to be worth $22 billion in India by 2017.
Wal-Mart has 20 stores in India in cities such as Amritsar, Bhopal, Ludhiana and Agra.
Having been at the forefront of the debate over foreign direct investment, or FDI, in the $500 billion Indian retail market, Wal-Mart was expected to be the first to enter the country after FDI in multibrand retail was allowed in September 2012. The Arkansas-based retailer had also supported the view of many global retailers that it was not possible to source 30 percent from small and midsize suppliers in India in order to meet the requirements of India’s FDI rules.
After the Indian government approved 51 percent ownership in multibrand retail, there was a long silence from global retailers for almost a year, including Wal-Mart. Three months ago, Tesco became the first global retailer to reveal a $110 million investment to open supermarkets in India in collaboration with the Tata Group.
Wal-Mart’s continuing silence appeared indicative of the company’s intention to forego the market of 1.2 billion people where the political opinion has been strongly divided on opening up retail to foreign investment. Wal-Mart in particular had been the focus of controversy as the single largest retailer that threatened the mom-and-pop stores that make up more than 90 percent of the retail market in India.
The decision to split with its partner in India in October, and the silence about further plans for the country, appeared to indicate the world’s largest retailer had given up on the market. No stores were opened in 2013, despite an ambitious expansion plan revealed previously. Another blow to Wal-Mart last year was the allegations of corruption over irregularities in foreign investment in India.
In yet another fashion show shuffle, @elleryland is moving its show in sync with the Paris couture calendar — though the brand is still keeping one foot on the city’s ready-to-wear schedule. Their runway show in January will coincide with the launch of a new strategy: designing two main collections each year instead of four, which will then be released in four drops. “As we all know, the system needs to change. We need to show sooner to give time back to artisans and designers to do what they do best — create,” said founder Kym Ellery. #wwdnews #wwdfashion (📷: @kukukuba)
@maxmara’s classic 101801 coat was the cornerstone of its pre-fall 2018 collection. The design team expanded the traditional double-breasted, kimono-sleeved style into a trapeze coat, lean belted styles and a peacoat and presented them in monochromatic looks – like the camel one pictured here. #wwdfashion #prefall18 (📷: George Chinsee)
The @cfda has shifted the dates of #NYFW, with Men’s showing on February 5 through February 7, and Women’s will directly follow, running from February 8 through 14. The preliminary schedule will be released on the CFDA’s web site in the next few days, but Mark Beckham, VP of marketing for the CFDA, revealed that @rafsimons will be back to close the men’s-specific part of the week with a show on February 7 #wwdfashion (📷: Kelly Taub)
@ferragamo is introducing a new space dedicated to the development of women’s and men’s leather good samples. The laboratory, which is created eco-friendly materials and designed to reduce the environmental impact of the manufacturing processes, will allow the company to expand its accessories offering through traditional artisanal approaches. #wwdfashion (📷: @aitorrosasphoto)
How does a “regular, degular, schmegular” girl from the Bronx, N.Y., become a Grammy-nominated artist with a certified platinum record in less than a year? Call it the @iamcardib come up. The 25-year-old has become a musical sensation, and the fashion world is taking note. “If I could describe her style I would say drama. She’s really into the dramatics,” says Cardi B’s stylist @kollincarter. See how Carter styles her bold and out there looks with the link in bio. #wwdfashion
“There is no formula. There is no guideline. I can watch Ted Talks all day, but there is no one who can advise me on exactly what it is I should be doing,” said @ronniefieg, CEO of @kith, in an interview with WWD’s @ariahughes at the brand’s new SoHo office in Manhattan. Head to WWD.com to see how Fieg went from hanging out in shoe stockrooms at 13 to building his own business. #wwdfashion (📷: @weston.wells)
@fearofgod and @maxfieldla have teamed up on a pop-up installation. The store, located in the gallery space across from Maxfield’s Melrose Ave location, is the site of the brand’s House of God pop-up in which Fear of God founder @jerrylorenzo has created a church-inspired installation. A dozen vintage church pews sit in front of an LED screen playing 90s gospel singers in an effort to re-create an environment akin to a Southern Baptist Church, Lorenzo explained. Read more about the pop-up on WWD.com #wwdfashion (📷: Jennifer Johnson)
Known for his sleek, sophisticated American glamour, Norman Norell is the subject of an upcoming exhibition at @fitnyc. “Norell: Dean of American Fashion,” which runs from February 9 through April 14, will feature approximately 100 ensembles and accessories. His best work is exemplified by the designer’s glittering “mermaid” gowns frosted with thousands of hand-sewn sequins – like the one pictured. (📷: William Helburn) #wwdfashion
For pre-fall 2018, @balmain didn’t let go of the glitz. A crystal embroidered baseball jacket priced at around $40,000 hangs in the “couture” section of the brand’s first men’s pre-collection. Sporting the words “Balmain Army” across the back, the item took around two months to make. “When it was completed, it was like Christmas, it was like, ‘It’s done, it’s exactly what I wanted,’” said Balmain’s creative director @olivier_rousteing during a tour of the collection in a Paris showroom on Monday. #wwdfashion