B&Q, the $7.8-billion UK-based home improvement retailer, is closing in on its India foray. Top company executives are in India currently to hold talks with a host of Indian companies for the debut into the country’s $12-billion organised retail mart. Part of the UK-based retail major Kingfisher group, B&Q is exploring both franchisee and joint venture options. While the retailer is in talks with established retail players, it is also learnt to be initiating discussions with relatively new-to-retail companies.
B&Q’s chief of Asian operations, Steve Gilman, had visited India early this year to explore opportunities in the country for a B&Q chain. Mr Gilman had also sought a clarification on India’s roadmap to relaxing FDI in retail norms from commerce and industry minister Kamal Nath. The retailer is expected to make an initial investment of $250 million in its Indian retail venture.
Multi-brand retailers like B&Q can only opt for the franchisee route for their India entry currently. India’s regulations currently permit 51% FDI in single-brand retail and 100% FDI in cash-and-carry under the automatic route.
UK Home Improvement Co B&Q Plans India Foray
May 8, 2007 by Cris | 1 Comment
In Franchises, Franchise Ideas / Opportunities, Successful Franchises, Franchising Worldwide
Rakesh on July 28th, 2008 at 4:49 am
Having commercial space of 1500 sq.ft in Chandigarh’s newly opened Mall. Wants to run Franchise.