"When European steel maker Arcelor bowed to an improved 25.6 billion euro ($32.2 billion) takeover offer from Mittal Steel on Sunday, it went on to create a world giant three times larger than its nearest rival." -The Economic Times, New Delhi, 26th Jun'06
Another day, another morning and more news. The Economic Times of today carried news about two bigshots of economy. One was making news for the past few months and the other was just another news.
Finally the news of Mittal Steel Co. taking over the Arcelor arrived and Arcelor merged into Mittal Steel. This made the Group not only bigger but also reinstated its monopoly as it has become three times its nearest rival. This not only made Mittal happy, but Indians are also taking pride in it. Indians have emerged as a global economy players and will continue to influence world economy in near future.
On the other side, TATA group acquired Eight O'Clock Coffee, based in US. According to the newspaper,
"Tata Coffee, a 51% owned subsidiary of Tata Tea, on Sunday announced that it had acquired the US-based Eight O’Clock Coffee Company (EOC), from Gryphon Investors for Rs 1,015 crore ($220m)." - The Economic Times, New Delhi, 26th Jun'06
Eight O'Clock coffee is third largest brand of US when it comes to volume. The Indian companies are going places collaborating and acquiring foreign companies. This is the just the opposite of what we used to see let say five - eight years back.
But can we hope to see the same happening with Indian fashion industry??? Willl ever an Indian design house be able to buy out houses like Dior, Chanel, Gucci or so??? We don't know. We can just hope. Indian fashion industry is in its nascent stage getting its work ethics, design values and marketing right on its path. Designers have started venturing into products other than clothes to give themselves status of 'House' rather than 'Label'. This looks promising. Here's a short article on this www.channelnewsasia.com
But giving to Indian scenario and international appeal, not many designers have potential to grow that big and I dont think we can see that happen in near future.
In other news, after so much hulla and discussion FDI in retail has finally marked off. With numbers of collaborations and direct setups, Indian retail scenario will no longer be the same. We will soon see worlds biggest designer and retail brands Gucci, Armani and Versace all making their space on the shelves of nearby stores. This will definitely infuse fresh competition in Indian market and provide consumer with wide array of choices and price options.
You can read the whole story here - www.fibre2fashion.com
Another day, another morning and more news. The Economic Times of today carried news about two bigshots of economy. One was making news for the past few months and the other was just another news.
Finally the news of Mittal Steel Co. taking over the Arcelor arrived and Arcelor merged into Mittal Steel. This made the Group not only bigger but also reinstated its monopoly as it has become three times its nearest rival. This not only made Mittal happy, but Indians are also taking pride in it. Indians have emerged as a global economy players and will continue to influence world economy in near future.
On the other side, TATA group acquired Eight O'Clock Coffee, based in US. According to the newspaper,
"Tata Coffee, a 51% owned subsidiary of Tata Tea, on Sunday announced that it had acquired the US-based Eight O’Clock Coffee Company (EOC), from Gryphon Investors for Rs 1,015 crore ($220m)." - The Economic Times, New Delhi, 26th Jun'06
Eight O'Clock coffee is third largest brand of US when it comes to volume. The Indian companies are going places collaborating and acquiring foreign companies. This is the just the opposite of what we used to see let say five - eight years back.
But can we hope to see the same happening with Indian fashion industry??? Willl ever an Indian design house be able to buy out houses like Dior, Chanel, Gucci or so??? We don't know. We can just hope. Indian fashion industry is in its nascent stage getting its work ethics, design values and marketing right on its path. Designers have started venturing into products other than clothes to give themselves status of 'House' rather than 'Label'. This looks promising. Here's a short article on this www.channelnewsasia.com
But giving to Indian scenario and international appeal, not many designers have potential to grow that big and I dont think we can see that happen in near future.
In other news, after so much hulla and discussion FDI in retail has finally marked off. With numbers of collaborations and direct setups, Indian retail scenario will no longer be the same. We will soon see worlds biggest designer and retail brands Gucci, Armani and Versace all making their space on the shelves of nearby stores. This will definitely infuse fresh competition in Indian market and provide consumer with wide array of choices and price options.
You can read the whole story here - www.fibre2fashion.com
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