Report -The Viability Of Liverpool Retail India Ltd

STEVENS BUSINESS SCHOOL BATCH: 2009-2011 IIP REPORT
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1. INTRODUCTION
1.1 RETAIL CONCEPT
The distribution of consumer products begins with the producer and ends at the ultimate consumer.
Between the producer and the consumer there is a middleman---the retailer, who links the producers
and the ultimate consumers. Retailing is defined as a conclusive set of activities or steps used to sell
a product or a service to consumers for their personal or family use. It is responsible for matching
individual demands of the consumer with supplies of all the manufacturers. The word ‗retail‘ is derived
from the French work retailer, meaning ‗to cut a piece off‘ or ‗to break bulk‘.
Retailing has become such an intrinsic part of our everyday lives that it is often taken for granted. The
nations that have enjoyed the greatest economic and social progress have been those with a strong
retail sector. Why has retailing become such a popular method of conducting business? The answer
lies in the benefits a vibrant retailing sector has to offer—an easier access to a variety of products,
freedom of choice and higher levels of customer service.
The ease of entry into retail business results in fierce competition and better value for customer. To
enter retailing is easy and to fail is even easier.
Therefore, in order to survive in retailing, a firm must do a satisfactory job in its primary role i.e.,
catering to customers. Retailers‘ cost and profit vary depending on their type of operation and major
product line. Their profit is usually a small fraction of sales and is generally about 9-10%. Retail stores
of different sizes face distinct challenges and their sales volume influences business opportunities,
merchandise purchase policies, nature or promotion and expense control measures.
1.1.1 FUNCTIONS OF RETAILING
Retailers play a significant role as a conduit between manufacturers, wholesalers, suppliers and
consumers. In this context, they perform various functions like sorting, breaking bulk, holding stock,
as a channel of communication, storage, advertising and certain additional services.

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1.1.2 DIVISION OF RETAIL SECTOR IN INDIA
The retail sector in India can be divided into two major categories:
1) Organized – only 5% of total share
2) Unorganized
1.1.3 RETAILING FORMAT IN INDIA
Convenience Stores:
These are relatively small stores 400-2,000 sq. feet located near residential areas. They stock a
limited range of high-turnover convenience products and are usually open for extended periods
during the day, seven days a week. Prices are slightly higher due to the convenience premium.
The traditional family run convenience stores serves the purpose of the housewives who
definitely wants to avoid traveling long distances to purchase daily needs. The convenience
factor in terms of items, among people in general can be highlighted as below:
· Groceries
· Fruits
· Drug Store
· Necessary stationery
Specialty Stores:
Organised
Supermarkets
Hypermarkets
Department Stores
Speciality Chains
Company owned &
operated stores
Exclusive Brand
Outlets
Unorganised
Kiranas: Mom &
Pop Stores
Kiosks
Street Markets
Multi-brand Outlets
FIG: 1.1 Division of Retail Sector in India

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Specialty stores stress on one or a limited number of complementary product categories and
extend a high level of service to their customers. In India, the traditionally independent
retailers in the specialized market centre operate in a particular product category, at these
centre attract large crowds. Such specialized retail operations provide expertise economies of
scale, bargain and image to the particular stores.
Chains such as the Bangalore based Kids Kemp, the Mumbai books retailer Crossword, RPG's Music
World and the Times Group's music chain Planet M, are focusing on specific market segments and
have established themselves strongly in their
sectors.
Department Stores:
Large stores ranging from 20000-50000 sq. ft,
catering to a variety of consumer needs, further
clas sified into localized departments such as
clothing, toys, home, groceries, etc.
Departmental Stores are expected to take over
the apparel business from exclusive brand
showrooms. Among these, the biggest success
is K Raheja's Shoppers Stop, which started in
Mumbai and now has more than seven large stores (over 30,000 sq. ft) across India and even has its
own in store brand for clothes called Stop.
The other leading fashion department stores in India are Ebony, Globus, LifeStyle, Pantaloon,
Shoppers‘ Stop and Westside.
Hyper marts:
A hypermarket is a very large retail unit offering merchandise at low prices. Superstores have
a sales area of over 50,000sq.ft. Hypermarkets are characterized by large store size, low
operating costs and margins, low prices and comprehensive range of merchandise.

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Supermarkets:
Large self-service outlets with low-cost, low- margin catering to varied shopper needs are termed as
Supermarkets. These are located in or near residential high streets. These stores today contribute to
30% of all food & grocery organized retail sales. Super Markets can further be classified in to mini
supermarkets typically 1,000 sq ft to 2,000 sq ft and large supermarkets ranging from of 3,500 sq ft to
5,000 sq ft. having a strong focus on food & grocery and personal sales.
Multi Brand outlets:
Multi Brand outlets, also known as Category Killers, offer several brands across a single product
category. They usually do well in busy market places and metros. MBOs give the size and scalability
opportunities. Customers also look for variety of products, choice of price points all in one place. This
is best captured by MBOs, particularly the ones who are positioned as destination stores
Discount Stores:
As the name suggests, discount stores or factory outlets, offer discounts on the MRP through selling
in bulk reaching economies of scale or excess stock left over at the season. The product category
can range from a variety of perishable/ nonperishable goods.
Malls:
This is the largest form of organized retailing today. It is
located mainly in metro cities, in proximity to urban outskirts.
The size ranges from 60,000 sq ft to 7, 00,000 sq ft and
above. They lend an ideal shopping experience with an
amalgamation of product, service and entertainment, all
under a common roof. Example includes Shoppers Stop,
Pyramid, and Pantaloon.

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1.2 INDUSTRY ANALYSIS OF THE INDIAN RETAIL SECTOR
1.2. 1 MARKET STATISTICS
 Indian retail market is the fifth largest retail destination globally
 Currently, the share of retail to the country‘s GDP is about 22% (US$ 353 billion) & is estimated to
grow to $637 billion in 2015
 Organized retail sector has been growing at a faster pace than traditional outlets. Its growth is
expected to grow from 5% to 14%-18% in 2015
 Higher disposable incomes, alterations in people‘s lifestyle, easy availability of credit cards, high
exposure of brands through media, increasing number of malls and branded outlets has enabled
this transition of sales from traditional outlets to organized retail
 Clothing and apparel contributes to about 36% of the total organized retail sales, following food &
grocery segment, in terms of value, growing annually at the rate of 10% - estimated to grow by
12%-15% per year
 Apparel is the fastest growing category with both domestic and international brands
 Footwear has the highest retail penetration in organized retail with wide distribution network and
consumer confidence
 With the opening up of the economy and globalization, India‘s retail industry has witnessed a huge
change over the years and with FDI now allowing up to 51% in single brand retail
72%
10%
5%
5%
3% 2%2% 1%
Fig: 1.2 India's Organised Retail Sector
Food & Grocery
Clothing & Textile
Durables
Watch & Jewellery
Home Décor
Health & Beauty
Footwear
Books, Music & Gifts
Courtesy: Indian Brand Equity Foundation

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1.2.2 POLICY AND REGULATORY ENVIRONMENT
 To facilitate easier flow of Foreign Direct Investments (―FDI‖) inflow, instead of having to seek
Foreign Investment Promotion Board (―FIPB‖) approval, FDI up to 100 % is allowed under the
automatic route for cash and carry wholesale trading and export trading.
 FDI up to 51% is allowed, with prior Government approval for retail trade in ‗Single Brand‘
products with the objective of attracting investment, technology and global best practices and
catering to the demand for such branded goods in India. This implies that foreign companies can
now sell goods sold globally under a single brand, such as in the case of Reebok, Nokia and
Adidas. However, retailing of multiple brands, even if the goods are produced by the same
manufacturer, is presently not allowed.
 Relaxation of FDI restrictions are being vigorously pursued by the business and trade coalitions
and are expected to fall in place over the next 3-5 years.
 The most common channels for entry of foreign retailers are the strategic license agreements,
franchising, distribution, manufacturing, joint ventures and cash and carry wholesale trading.
Strategic license agreements
This route involves the foreign company entering into a licensing agreement with a domestic retailer
or partnering with Indian promoter owned companies in the Middle East (UAE) or South East Asian
countries (Singapore, Malaysia, Thailand and Indonesia).
Franchising
This is a widely taken entry route, with many international brands setting up shop via this provision.
When one buys a franchise, he is buying the right to use a specific trademark or business concept.
The business one runs is essentially the same as all other business being run under the same name.
In order to do this, one may have to buy things like products, tools, advertising assistance, and
training from the franchisor (the company that owns the rights to the business).

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The franchising routes operable in India are:
• Unit franchisee: Franchisee is granted rights to operate a single business unit
• Multiple franchisees: Individual unit franchises are given to multiple outlets, a route primarily used by
domestic brands
• Master franchisee: Rights are granted for an entire territory to the master franchisee and the master
franchisee can in turn grant unit and multiple franchisees in that territory
• Regional franchisee: This route is similar to that of the master franchisee, but applicable on a larger
scale. The master and regional franchisee routes are the most preferred and the oft-adopted routes of
entry into India by the international retailers.
Cash-and-carry wholesale trading
100 % FDI is allowed in wholesale trading which involves building a large distribution infrastructure to
assist local retailers and manufacturers.
Joint ventures
International firms can enter into agreements with domestic players, and set up base in India. The
share of the multinational is restricted to 49 % in this route.
Manufacturing
International retailers can set-up manufacturing units for their products in India. Entry through this
route entails the company the rights to retail the products in India through individual retailing outlets.
Distribution
 An international company can set up distribution offices in India and supply products to the local
retailers. Franchisee outlets can also be set up in this route.
 Efforts are also being undertaken by the Government to remove impediments being posed by
licensing and clearance mechanisms in India; with the aim of introducing a single-window
clearance mechanism. This would reduce the entry and establishment timelines for new players in
the market and facilitate easy procedures in issuance of necessary approvals.
 The Government is expected to take a calibrated approach in land and rent reforms to improve the
real estate regulatory environment and facilitate easy access to retail space for international
investors.

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 Solutions to problems related to the lease rentals and pro-tenancy laws, which significantly deter
international investors, are being pursued by the Government, with initiatives like Special
Economic Zones (SEZs), allotment of Government controlled land etc.
1.2.3 INDIA’S FAST-GROWING APPAREL MARKET
India‘s apparel market is in the throes of change. Rapid growth and rising urbanization have spawned
a new class of consumers with more money to spend, and a growing passion for fashion. In India‘s
high-growth, fast-changing retail clothing market, we see significant new growth opportunities for
foreign and domestic players.
Though menswear has held a special place amongst apparel retailers from the start, women and kids
wear are gaining momentum as the untapped market and an industry with a lot of potential. Most of
the organised retailers picked up men`s clothing section, but a great deal of women`s and kids wear
sections lay in hands of unorganized
sector. However, now-a-days, many
apparel makers are eyeing a share
of this bigger pie with companies
focusing entirely on women`s wear
or kids wear, and menswear makers
too launching special lines of women
and kids wear. There is lot of
specialization coming up in ethnic
and western clothing, in both men`s
wear and women`s wear sections.
Lack of organized players in
women`s wear sector has given way to apparel brands eyeing a bigger share of this untapped
market.
Indian apparel sales are expected to reach an estimated $25 billion this year, having grown in excess
of 10 % over the past 5 years—a growth rate faster than that of the overall India retail market—and
the trajectory is expected to continue. This growth is being driven by a number of factors:

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 Increase in disposable income:
By 2005, 21 million of India‘s 210 million households already earned more than $4,000 a year,
qualifying them for membership in what we call ―the consuming class.‖ Based on McKinsey research,
by 2015 the number of consuming class households will likely triple to 64 million.
 New occasions:
As the lifestyles of India‘s prospering urban consumers have evolved, their clothing needs have
broadened, reflecting more varied usage occasions. While the Indian shoppers love for clothes has
been unchanged over the years, the average amount spent on clothes and the frequency of shopping
has shown a sharp increase. Indians, who spent an average of $36 (approximately Rs 1,440) in the
2003, were seen to be spending $58 (approximately Rs 2,320) in the same period in 2008. And while
only 8% men and 9% women bought clothes once a month in 2003, 22% men and 31% women now
shop for clothes monthly. Indeed, 38% of Indian respondents to a McKinsey study,2008 said they
were highly likely to buy apparel for special events—a significantly higher proportion than in Brazil
(5%), Russia (3%) or China (6%). Family celebrations and weddings continue to eat up an enormous
share of Indian consumers‘ clothing budgets.
 Growth in the women’s segment:
Historically, the men‘s apparel market in India has been significantly larger than the women‘s apparel
market. With only 20 % of India‘s urban women in the workforce, women‘s wardrobes have
traditionally been limited to home wear and items for special occasions. Now, women are more willing
to dress differently when they venture beyond the home—to shop, for example, or visit a school or
office.
 Fashion increasingly a form of self-expression:
Increasingly, Indian consumers are embracing the idea of fashion for its own sake, as a means of
self-expression, and not merely as a functional purchase. Traditional clothing remains central to the
way consumers dress, and the quality and craftsmanship of classic Indian clothing have drawn rave
reviews in recent years from some of the world‘s leading designers, style magazines, and fashion
blogs. In a recent McKinsey survey of Indian consumers, 62 % said they thought it was important to
―keep up with trends.‖ More than ever, Indian consumers are experimenting with combining styles, as
seen in the recent ―Indo-fusion,‖ boom, which mixes the silhouettes of the East with the comfort cut of
the West.

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 Further urbanization:
At present, just 30% of India‘s population resides in cities, among the lowest urbanization rates of
any nation in the world. But that has been changing. Over the next 20 years, we expect the number of
Indians living in cities to grow by 300 million, where they will buy new styles and fashions to match
new lifestyles. A large percentage of these new city dwellers will be in their twenties, and making first-
time choices for whole categories of clothing items including denims, shirts, and even shoes.
 Comparative youth of India’s population:
Against the backdrop of an ageing world, India possesses the advantage of having a largely young
population. 35% of India‘s population is under 14 years of age and more than 60 % of the population
is estimated to constitute the working age group (15-60) till 2050. Two-thirds of Indian population is
under 35, with the median age of 23 years, as opposed to the world median age of 33. India is home
to 20% of the global population under 25 years of age.
1.2.4 RETAIL FORMAT IN TRANSISTION
Modern retailing has entered India in form of malls and huge
complexes offering shopping, entertainment, leisure to the
consumer as the retailers experiment with a variety of formats,
from discount stores to supermarkets to hypermarkets to specialty
chains.
The organized retail sector, which currently accounts for around
5% of the Indian retail market, is all set to witness maximum
number of large format malls and branded retail stores in south
India, followed by north, west and the east in the next two years.
Large branded store chains where products are systematically stocked and displayed, will speed the
transformation of consumer preferences. A clutch of Indian retailers have planned to ramp up the
number of bigger stores in their portfolios the year 2010. The focus for retailers this year has moved
to larger stores for several reasons. For one, retail industry experts said renting larger spaces in malls
gives companies better negotiating power.

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Rents eat up anywhere between 15% and 20% of a retailer‘s revenue, compared with the global
average of 10-15% said by Shubhranshu Pani, managing director for retail at property consultancy
Jones Lang LaSalle Meghraj,.
Pinakiranjan Mishra, partner for retail practices at consultancy firm Ernst and Young, (E&Y) said large
stores can also generate additional incomes through sub-letting spaces for shop-in-shops and in-
store advertising.
Source: article- Retailers Think Big, Shift Focus To Large-Format Stores From Business Standard, April 08, 2010
IMAGES F&R research study (2009) reveals that by the first quarter of 2011, India can expect to have
nearly 120 million square feet of total mall space available through about 350 malls.
 North & South in the Lead
Pointing out that the country's North & South have been leading the Malls revolution and continue to
be in the lead, the Report says that the number of operational malls in North zone will increase from
the present 90 in 2010 to 150 by Q1, 2011. Thus, the percentage increase in this zone in number of
malls will be 60 % by 2011 from the existing 90 malls in 2010.
According to the Image F&R projection, the number of operational malls in the South zone will
increase from 21 operational malls in September 2009 to 72 by Q1, 2011.
The highlight of the development in South is that the total existing mall space of 7.2 million square
feet is projected to be more than doubling to touch 18.43 million square feet by 2011.
 West Zone & East Zone
In the West, Mumbai has been dominating mall development activity and continues to do so,
accounting for almost 66 % of the total 56 existing shopping malls.
The report says that the number of operational malls in West zone will increase from the 56 as on
September 09 to 87 by Q1, 2011.
In West Zone, about 31 more malls will be added by 2011 where the total available mall space is
16.36 million square feet. This, the Report says will be increasing by 33.9 % by 2011.
And in a broader sense, East zone appears to be tagging along too, albeit at a comfortable pace. The
number of operational malls will be more than doubling from the present strength of 16 as on
September 2009 to 37 by Q1, 2011.
SOURCE: Malls of India, the 2009 edition published by IMAGES Group

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These changes will have far-reaching implications for designers, manufacturers, and retailers
targeting the Indian apparel market. Spanish fashion giant Inditex (Zara) had announced plans to
enter India in 2009. Fast Retailing (Uniqlo) has pegged 2012 for market entry.
FIG: 1.3 APPAREL IS THE MOST PROFITABLE SEGMENT OF THE INDIAN RETAIL MARKET TODAY
CATEGORY
TYPICAL RETAILER
MARGIN
DESCRIPTION
Food 15-20%
More than 80% organised retail in India
if food
Apparel 35-50%
Highest retailer margins through
apparel
Electronics 5-10%
Household appliances may provide as
much as 8-10%, cell phones may be as
low as 5-6%
SOURCE: McKINSEY REPORT, 2009

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SOURCE: IBEF REPORT – RETAIL, DEC 2008
FIG 1.4

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1.2.5 KEY PLAYERS
Pantaloon Retail
Pantaloon Retail, a Future Group venture started its operations with Pantaloon Shoppe in 1993 and
has since emerged the retailing giant of India with over 5 million square feet of retail space spread
over 1000 stores across 71 cities in India. Pantaloon Retail operates in over twenty diverse store
formats, with a spectrum of offerings ranging from food and grocery to carpentry services. It operates
some of the immensely popular retail outlets of India, including the Central chain of malls, Big Bazaar
and Brand Factory. The aggressive expansion rate, combined with the aim of capturing both the
value segment and the lifestyle segment of the market has resulted in Pantaloons capturing a large
part of the organised retail pie.
In terms of retail sales mix also, the share of the
lifestyle segment went up from 27 % in the
second quarter of 2008-09 to 29 % in 2009-2010
(Pantaloon follows a July-to-June financial year).
The company posted a 51 % jump in its net profit at Rs 50.67 crore and a 25% jump in net sales at
Rs 1,912.84 crore for the second quarter ended December 31, 2009.
Pantaloon Retail has many firsts to its name in the Indian market, with discounted store formats like
Brand Factory setting benchmarks for new players entering the market.
The unique selling proposition of Pantaloon Retail is the dual approach to tap both the ―Value‖
segment and ―Lifestyle and Luxury‖ segment consumers, by establishing retail formats in each
segment like Big Bazaar, Fashion Station etc. aimed at value retailing while Central, Pantaloons
captures the lifestyle segment consumers.
Shoppers Stop Limited
Shoppers Stop, established in 1991 with its flagship store- Shoppers Stop by the K. Raheja Group,
has now expanded to over 100 retail outlets spread across 1.1 million square feet of built-up area,
spanning a spectrum of retailing verticals and formats. The group offers formats in the lifestyle and
luxury segment, with the growing affluent middle class population as their target consumer base.
The revenue in the year 2009-2010 is Rs. 141,181.25 lacs (previous year Rs. 127,108.20 lacs),
registering a growth of 11.07% y-o-y basis. The net Profit achieved in the year 2009-2010 was Rs.
5,023.05 lacs (previous year net loss of Rs. 6,371.80 lacs).
Private labels account for more than 21 % of their retail revenues, with Shoppers Stop clocking
impressive total number of transactions to customer footfalls ratio (conversion ratio) of 27 %.

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Strategic partnerships with international retailing players like Mothercare Plc of
Britain and Leisure & Allied Industries of Australia, are aiding Shoppers Stop in
catering to the niche markets.
Shoppers Stop and Hypercity Retail (India) Ltd. have jointly entered into an
agreement with Home Retail Group Plc, United Kingdom, to develop the format of
catalogue retailing in India under an exclusive franchise.
OTHER KEY PLAYERS
Tata Trent Ltd.
• Established in 1998
• Revenues: Rs.40.22 cr
• Retail sector activity: Apparel, Specialty – books and music
• Current store format: Hypermarket, Supermarkets
• Entered in Hypermarket format in 2004 with Star Bazaar
• Future plan: New venture-Infiniti Retail Ltd.
• Manufacture private labels in apparels
• Principal fascia: Westside, Landmark, Star India Bazaar
Landmark Group – Dubai based co.
• Present in India since 1999
• Revenues: US$ 3.2 billion
• Retail sector activity: Apparel, Home décor & Furnishing
• Current store format: Department stores, Hypermarkets
• Entered in Hypermarket format in 2007
• Current outlets: Lifestyle-15 outlets, Max Retail-4 outlets, 3 hyper
markets
• Future plan: Presence in mini metros and Tier-II cities
• Principal fascia: Lifestyle, Home Centre, Max Retail, Spar

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Madura Garments
• Part of the Aditya Birla Nuvo Group since 2000
• Retail sector activity: Apparel
• Principal fascia: Louis Philippe, Van Heusen, Allen Solly, SF jeans, Peter
England
• Joint Venture with international brands: Esprit
• Current outlets: Planet Fashion-50 outlets, Trouser town-9 outlets
• Future plan: Projected to increase to 300 outlets by 2009 and diversify into the women‘s wear
segment
Globus
• Retail sector activity: Apparel
• Current store format: Stand alone stores
• Current outlets: 26
• Future plan: To set up additional 100 fashion stores by the end of 2012.
• Manufacture private labels under Globus and F21
• Principal fascia: Globus
Provogue Ltd.
• Revenues: US$ 38.1 million
• Retail sector activity: Apparel, Footwear
• Current store format: large format store & Stand alone stores
• Current outlets: 126 own outlets & 110 shop-in shops
• Future plan: To manage and develop malls
• Principal fascia: Provogue, Prozone

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1.2.6 KEY PLAYERS’ SWOT ANALYSIS
EARLY BIRDS
RETAILERS BRANDS PLANS STRENGTHS CHALLENGES THREATS
K Rhaeja
Group
Shopper's
Stop,
Crossword,
Inorbit Mall,
Hyper City,
Café
Brio/Desi
Café
Raising the no. of
Shopper‘s Stop
Outlet to 49 By
2010-End,
60-70 New
Crossword
Outlets Within
Two Yrs,
68 Hyper City in
next 5yrs & 100
Café Brio/Desi
Café
Pulse On
Customer Tastes
With Local
Retailing
Experience
Keeping Up
Brand Loyalty
Could Get
Bogged Down In
Positioning Itself
Right
Future
Group
Pantaloon,
Big Bazaar,
Food Bazaar,
Central,
Ethnicity,
Brand
Factory,
Home Town
A Store A Day
For The Next 3-4
Yrs, 3300
Planned By
2011; Currently
operates around
1000 stores
Can Evolve On
Vast Customer
Experience &
Existing Models
Expanding
Customer Base,
Sourcing
Products At
Cheaper Rates
Straddling With
Too Many Retail
Formats
Tata Trent
Westside,
Star Bazaar,
Landmark
Looking To
Register In
Hypermarkets;
Currently
operates in 42
retail outlets
growth of nearly
28 % in the retail
space since
2009; won an
award of ‘'The
Most Admired
Private Label
Fashion Retailer
of the Year-
2010'
Sprucing Up
Product
Offerings,
Opening More
Outlets, &
Introducing New
Retail Formats
It‘s Smaller Retail
Operations
DEBUTANTS
RETAILERS BRANDS PLANS STRENGTHS CHALLENGES THREATS
Reliance
Reliance Fresh,
Reliance Mart,
Reliance Super,
Reliance Digital,
Reliance Jewels,
Shifts the
focus to
hypermarkets
Growth through
value creation.
Operates
several value &
specialty
formats
Getting the retail
portfolio right for
Indian tastes
Lack of
experience in
retail format,
product pricing
Bharti
Walmart
Field Fresh
To open up
140 retail
stores by the
year-end & 15
wholesale
store by next
3-years
Bharti's local
expertise & Wal-
mart's back-end
makes a lethal
combo
Government
interventions at
intervals
Product pricing,
shelf & overall
offerings

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1.2.7 MARKET ANALYSIS OF VARIOUS BRANDS
Source: Article- Brands of India, IMAGE BoF
1.2.7a) KOUTONS RETAIL INDIA
 Targeting Indian middle class where they shop as a family
 Product Range: wide range of apparel designs suited for all segments including corporate, formal
and casual dressings for men, women and children.
 Location: in both large and small city malls and high streets.
 No. of Outlets: More than 1400 stores in India out of which 1341 are franchised outlets
 Company‘s Fascia:
 Koutons the flagship brand
 Charlie Outlaw for men
 Les Femme for the modern and vibrant women
 Koutons Junior for the young and energetic children
 K2One for shoes, leather jackets
 Accessories: Patent Club and Feel Me.
 Turnover till 30 December, 09 was Rs 235.94 million.
 Production Capacity:
 Manufacturing capacity of 80 lakh pieces approximately per annum (cost around Rs 4 crore),
 Finishing capacity of 80 lakh pieces approximately per annum(cost around Rs 4 crore)
 No. of in-house manufacturing / finishing units: 18
 No. of Warehouse: 14 warehouses spread across Gurgaon
 Future Target: All the state capitals and districts of the states
1.2.7b) ROYAL CLASSIC GROUP (RCG)
 Year of Establishment: began in 1991 as an exporter
 Brand mantras
 Customer is the king
 Quality is God
 Development:
 In February 2001, the company launched its maiden T-shirt brand Classic Polo, making its
foray into the domestic market.
Although, Classic Polo is primarily a T-shirt brand, it also offers a complete lifestyle wardrobe
like exclusive T-shirts, shirts, trousers, etc.

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 RCG acquired Smash, another T-shirt brand, in 2004
 launched its exclusive premium men`s intimate wear under the brand name Smash in 2005.
 Brand turnover FY ‗10 (projected): Rs 75 crore
 Retail presence:
 EBOs: 76; Company-owned: 52; Franchises: 24
 Factory outlets: 5
 MBOs: 3500+
1.2.7c) CANTABIL
 Company: a fashion-and-lifestyle label from the house of Cantabil International
 Launched in India: 2000
 Merchandise:
 Initially formal and semi formal shirts and trousers for men
 Subsequently, the brand expanded its portfolio to casuals and smart casuals for men, & also
for the diverse segments of women and children
 Brand mantras:
 Offer the latest in fashion and style for the Indian consumers
 Quality at an affordable price Brand
 Turnover FY ‗10 (projected): Rs 150 crore
 Retail presence: EBOs: 405
 Company-owned: 60 per cent
 Franchises: Remaining 40 per cent
1.2.7d) GARBO
 Company: National Clothing Supply India Private Limited
 Product: Kidswear
 Brand mantras:
Quality at affordable price
 Retail presence: MBOs: 300

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1.2.7e) PEPE JEANS
 Company: PJL Clothing (India) Ltd
 Launched In India : 1989
 Brand mantra:
Global, bold and ambitious, Pepe Jeans is all about premium jeans and casual wear, young at
heart, positively rebellious with a broad appeal
 Product portfolio:
Casual Cotton, Shirts, T-Shirts, Denims, Fashion Tops, Dresses, Jackets and Accessories
 EBOs: 204; company-owned: 78; franchise: 126;
 Factory outlets: 12; company-owned: 1; franchise-owned: 11
 MBOs: +1500
1.2.7f) NUMERO UNO
 Company: Numero Uno Clothing Ltd
 Brand mantras
 Let the product speak for itself
 Superior value for money
 Product Portfolio: complete casual wear brand
 started manufacturing shirts in 1998 and knits
and jackets thereafter
 launched its footwear division in 2006
 Accessories are also a strong area of growth
 EBOs: 105; company-owned: 36; franchised: 69
 Factory outlets: 12; company-owned: 9; franchise: 3
 MBOs: 400+

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1.2.7g) SPYKAR
 Company: Spykar Lifestyles Pvt Ltd
 Brand mantras
 To deliver the right value to the customer
 To consistently set free latest fashion for the
youth
 EBOs: 202 (all franchises);
 Factory outlets: 56; company-owned: 3; franchise
outlets: 53;
 MBOs: 750;
1.2.8 FUTURE OUTLOOK
 The Q410 BMI India Retail Report forecasts that total retail sales will grow from INR16.51trn
(US$380.39bn) in 2010 to INR26.02trn (US$679.32bn) by 2014.
 Of this, organized retail, which constitutes just 5% of the total market, is estimated to grow at a
CAGR of US$ 107 billion by the year 2013 from US $20 billion in 2007, signifying a huge potential.
 Strong underlying economic growth, population expansion, the increasing wealth of individuals
and the rapid construction of organised retail infrastructure are key factors behind the forecast
growth.
 As well as an expanding middle and upper class consumer base, there will also be opportunities
in India's second and third-tier cities.
 The greater availability of personal credit and a growing vehicle population to improve mobility
also contribute to a trend towards annual retail sales growth of 11.4 %.
 India‘s per capita GDP has grown exponentially over the years and is expected to grow further.
This along with the transition of the middle class will lead to a reduction in poverty and further the
burgeoning middle class. In 2005, the middle class segment was relatively smaller in size,
comprising just 5% of the total population but this is expected to increase to 41% by 2025.
 The total apparel consumption by these classes is said to increase more than 10 times from $3.6
billion in 2006 to $37 billion by 2025. This data simplifies the vision for India‘s retail sector.

Page21
 Further, the consumption rate is growing stronger day by day and the combination of rapidly rising
household incomes and a growing population will
lead to a significant increase in consumption.
 The aggregate consumption of India is
expected to grow to Rs 34 trillion by 2015 and Rs
70 trillion by 2025, a four-fold increase from the
current levels of Rs 17 trillion. The Indian market is
expected to be the fifth largest market in the world
by 2025, surpassing the market of Germany.
Although low growth of 6% annually is likely to continue for the next two years, the AEPC vision is
based on sustained growth of top five apparel suppliers. Based on the past export trends of India,
feasibility study and the assumption that the world apparel market would grow moderately at 8%,
AEPC fixed the target for apparel exports by 2015 at US$34 billion.
 The retailers are also working to overcome key hurdles. Increasing market share, improving brand
image, insulating the export market by diversifying, tackling production-related issues and
reducing cost disadvantage, keeping a check on debt-funded expansion, penetrating the rural
markets and Tier-I and Tier-II cities, offering products for the lower income bracket and much
more, is on the retailers‘ minds to make the most of the next projected boom in the market cycle.
 With the second largest population in the world growing at an average of around 1% per annum
coupled with rising income levels, the retail sector will ride on the consumption wave that
continues to be one of the most significant components of the Indian GDP.
 Malls are expected to be one of the major growth drivers of apparel retailing and in terms of
opening new retail outlets, apparel retailers and brands attained a higher than expected growth
rate. The market potential is clearly evident from the number of stores being added to the list of
existing ones every year.
 The number of operational malls is expected to grow two-fold with a major slice of development
taking place in Tier-II and Tier-III cities, which are relatively newer avenues for the industry.
1.2.9 FLATTERING REMARKS
 Apparel industry is considered an environment-friendly industry due to its low emission levels. The
industry can leverage carbon credits saved in this industry and trade them in the world market. In
fact, it can be a new source of revenue for our industry.

Page22
 Given the fact that because of the rise in the global equity markets, the prices of some of the
apparel stocks such as Zodiac, Provogue and Koutons have already gone up by an average of
150% in the last six months.
 The Indian Brand Equity Foundation (IBEF) too upholds most of these projections. The country‘s
retail market is the fifth largest retail destination globally to be ranked as the most attractive
emerging market for investment in the retail sector by AT Kearney‘s eighth annual Global Retail
Development Index (GRDI) in the year 2009.
 Commercial real estate services company, CB Richard Ellis‘ findings state that the retail market in
India is currently valued at US$ 511 billion.
 Further, CB Richard Ellis states that India has moved up to the 39th rank in the list of the most
preferred retail destination in the world in 2009, up from 44 last year.

Page23
1.3 COMPANY PROFILE
Liverpool Retail India Ltd. ventured into the readymade garments sector in the year 2006 with its
diverse product line of Shirts, Trousers, T-shirts and Men's and Women's Accessories. Liverpool
incorporated in the year 2001 by launching its fashion retail chain across the country under the same
brand name of "Liverpool". Liverpool is the only Brand from Ahmedabad, infact from Gujarat who has
all over India retail presence in such a short span.
Retail Format: Discount Format Stores
1.3.1 FOCUS
The focus of the brand and infact the products USP is Quality, Variety and its very attractive Price
bracket in which they come. With the exceptional fits, styling and COLOR options available in the
products range, Liverpool promises to be an instant success amongst the young generation and
working professionals.
Liverpool Retail India Ltd. is owned by a team of distinguished Promoter and Directors.
:: Promoters
Mr. Vijay Singh Rathod
Mr. Kailash Gupta
:: Present Directors
1. Mr. Vijay Singh Rathod, Director, Liverpool Retail India Ltd.
 Masters in Economics from Agra College, Agra
 First job: a lowly-paid milk supervisor for Hindustan Lever Ltd in the moffusil town of Etah in
Uttar Pradesh way back in 1988.
2. Mr. Kailash Gupta
 Education: post graduate in Personnel Management from XLRI, Jamshedpur, and also has
degree in law from the University of Delhi
 Serves as Managing Director of National Multi-Commodity Exchange of India Ltd., Neptune
Overseas Limited and a GoI recognized Export House
 Has been Director of Personnel & Administration at Shipping Corp. of India since July 2006
 Serves as Managing Director of Liverpool Retail India Ltd.

Page24
3. Mr. Dharmendra Kothari
 Director at Liverpool Retails India Ltd.
 Served as Senior Manager at RSM McGladrey FPO – H & R Block Group Company
 Worked as Manager Finance & Accounts at Creative Global Services
 Was at Shoppers Stop Limited at Assistant Manager – Accounts
 Education:
 The Institute of Company Secretaries of India
 Institute of Chartered Accountant of India
 Mohanlal Sukhadia University
Liverpool entered in the fashion retail sector with a vision to not only spread its business in the
domestic Indian market, but also make its presence felt internationally.
Currently the company has 554 stores spread in
different states of India namely Gujarat, Rajasthan,
Bihar, Madhya Pradesh, Delhi, Punjab, Haryana,
U.P., Uttaranchal, Karnataka, Tamil Nadu, Assam,
Jammu & Kashmir, Himachal Pradesh, Orissa,
Kerala and West Bengal.
The company has just launched a budget-
conscious new brand called 'Barcelona' in June,
2008, which offers garments for men and women between the price range of Rs 400 and Rs 2000 at
151 outlets in the country.
The company has stepped into international market having started two stores at Dubai and shortly
entering into Europe, Japan, Nepal and other International locations.
Liverpool aims to cross 1000 stores target by the year end of 2011-12. Showroom area varies from
500 sq-feet to 3000 sq-feet, with the latest Retail Design and Visual Merchandise.
Liverpool target customers are of all age groups & currently, the company sources its garments from
third parties.

Page25
1.3.2 STRENGTH
Liverpool is rapidly developing its brand image in customers mind and turning them into loyal
customers of Liverpool. Customer loyalty doesn‘t come easy in today‘s highly competitive market. Our
customers are satisfied buyers not only because we meet their requirements in terms of a premium
brand but one that's reasonably priced too, which is the secret behind our customer‘s loyalty.
Liverpool has a good market presence with attractive schemes and offers running on a regular basis.
As the garments are designed keeping in mind the latest fashion trends, forecasts and colors, they
are not only affordable but fashionable too.
1.3.3 BRANDS
1.3.4 KEY PROGRESS FOR LIVERPOOL RETAIL INDIA LTD.
1.3.4a) Liverpool Set To Carve Its Name In Guinness
 Liverpool has strongly promoted its brand nation wide and within a short span of time has
succeeded, by establishing 125 franchise outlets. The company now aims high to enter Guinness
Book of World Records by coming up with 150 retail outlets in 16 states simultaneously.
 Launched two stores in Dubai
Source: Fibre2fashion News Desk – India, April 09, 2008

Page26
1.3.4b) Liverpool To Invest Rs. 500cr in 2 yrs
 To set up a new manufacturing plant
 To start new brands
 To expand its current Liverpool stores to 600 outlets by March 2009 and 1000 outlets by March
2010 across the country.
 To enter the high-end garment market, plan to open a chain of designer boutique stores for which
it will tie up with some of the major designers in the country – Rs. 30 crore would be invested
Source: Business Standard, June 16, 2008
1.3.4c) ‘Liverpool’ Opens 151 Stores On A Single
Day; Enters The ‘Limca’ Book Of Records
Launched 151 retail stores for another apparel brand
called ―BARCELONA on 15th
June 2008. Interestingly,
all the stores were launched on the same day and at
the same time across the country. Barcelona clothes for
men and women would be priced between Rs 400 and
Rs 2000.
Source: Fibre2fashion News Desk – India, 23 June, 2008
1.3.4d) Liverpool Plans IPO; Mulls Acquisitions
 Liverpool Retail India Ltd plans to launch an initial
public offer (IPO) in the financial year 2010-2011. Around INR 1 billion is expected to be raised
from banks through loan and private equity whereas INR 1 billion may be raised through the IPO.
 Launched first Liverpool family store in Rajasthan in August
 Launched foremost Liverpool Kidsland outlet in Gujarat in September
SOURCE: Fibre2fashion News Desk – India, 16/10/2009

Page27
1.3.4e) Shapoorjee Chandabhoy To Invest In Ace Tours, Liverpool
Mumbai-BASED non-banking finance company (NBFC) Shapoorjee Chandabhoy Finvest Pvt Ltd
(SCFPL) plans to invest Liverpool Retail India Ltd. The negotiation with company is at the final
stage and expected to conclude within the next few months.
If all goes as planned, SCFPL will pick up 20% in Liverpool Retail India Ltd, an Ahmedabad-based
readymade garment retailing company, for Rs 15 crore.
SOURCE: 22 Jun 2010, ET Bureau
1.3.4f) City-Based Apparel Firm Eyes Stores In Japan
 Liverpool Retail India Ltd plans to set up stores in Japan and Nepal this fiscal. The company also
intends to come out with an IPO of around Rs 150 crore. For its foreign venture, it is in talks with
Japanese and Nepal-based firms.
 Planned to start 20 stores in Nepal and an equal number in Japan
 Claimed to be the number two apparel company in the organised retail sector after Koutons Group
SOURCE: Ahmedabad Mirror, 20 July, 2010
1.3.5 CURRENT SCENARIO
Liverpool Retail India Ltd. currently operates around 500 Exclusive Brand Stores running on
the franchise format. It has only one warehouse which is situated in Naroda, Ahemdabad. Its
biggest project ever, which includes setting up of garment manufacturing unit, huge lifestyle stores &
warehouse facilities is in the pipeline.
Liverpool Retail India Ltd.‘s minimum guaranteed payments to franchisees cover lease rentals,
employee costs, and other establishment costs apart from incentives on sales.
Presently the company is facing heat of minimum guarantee fad. Due to the peculiarities of the Indian
real estate market minimum guarantee has come to the fray. Hence presently the company is in
restructuring stage where it is focusing on cost cutting & withdrawing the loss making franchisees.
Most of the company‘s earlier franchisees had been provided a fixed minimum guarantee on the
assumptions of good sale. The reason to offer minimum guarantee is to ensure returns to
franchisees. The risk is covered due to MG.

Page28
The company has now initiated to restructure the format of the Minimum Guarantee from the fixed
one to the commission base. The commission can range from 25% to 33% on the net sale.
The fundamental of the thought is to reach a level where both parties undertake their fair share of
risks to make it turn into a business format franchising.
Next to these essential commercial factors (investments and earnings), the support facilities from the
company, like supply chain management, merchandise in tune with the season and competition,
stock refreshment as per industry standards, quality uncompromised, and price worth the product that
constitute the key ingredients for the goodwill of the company are put under scanning in the reforming
strategy. Among other things, the company will also revamp its discount model this year.
1.3.6 OPPORTUNITY
An important aspect of the current economic scenario in India is the emergence of organized retail.
There has been considerable growth in organized retailing business in recent years and it is poised
for much faster growth in the future. India is on the radar of Global Retailers and suppliers / brands
worldwide are willing to partner with retailers here. Further, large Indian corporate groups like Tata,
Reliance, Raheja, ITC, Bombay Dyeing, Murugappa & Piramal Groups etc and also foreign investors
and private equity players are firming up plans to identify investment opportunities in the Indian retail
sector. Retail Space is no more a constraint for growth.
Favorable demographic and psychographic changes relating to India's consumer class, international
exposure, availability of increasing quality retail space, wider availability of products and brand
communication are some of the factors that are driving the retail in India. Indian consumers are
rapidly evolving and accepting modern formats overwhelmingly. Customers also look for variety of
products, choice of price points all in one place
The economy is tougher to categorize as an influence on shopper behavior – particularly as it relates
to choosing one format over the other. Thus, to ensure high return on investment & a competitive
edge in the market, the company needs to ascertain the new retail formats i.e. multi-brand outlets
(MBOs) & large format stores (LFS) that are flavor of the season. Consumers want the convenience
of shopping at branded stores that have a wide range of products and broader aisles. They are
looking for all the modern conveniences and they appreciate all-under-one roof concept.

Page29
Exclusive brand outlet (EBO) does ensure that the store is never out of stock, thanks to the
predominant one-brand presence & also EBOs are in command with better visual merchandising,
more control over the brand, customer experience etc. However, veterans argue that it is the multi-
brand outlets, which drive more footfalls. In the MBOs, the retailers offer wider range of merchandise.
In the response to the open poll question on IndiaRetailing — Exclusive brand stores may allow for
greater depth and branding of merchandise, but multi-brand outlets and shop-in-shops are really the
revenue drivers for a brand — 91.67% of the respondents support the statement while the remaining
8.33% of them negated it.
MBOs and shops-in-shop (SIS) can certainly help a brand build its footprint more rapidly and with
lower capital & give the size and scalability opportunities than it could with only exclusive brand
outlets, as discussed by Devangshu Dutta, chief executive, Third Eyesight.
Positioning a brand in multi-brand outlets enables the brand to enhance reach across a cross-section
of customers, thereby driving revenue.
The company can enter into new retail formats along with its current store layout as the exclusive
stores would help in building the brand and the multi-brand stores and shop-in-shops will help in
increasing the visibility and reach of the brand as sales channels for the fast moving SKU‘s in the
brand.

Page30
2. INTERNSHIP PROJECT DETAILS
2.1 RESEARCH METHODOLOGY
TOPIC: ―The Viability of Liverpool Retail India Ltd. In Large Format Stores‖
The research was to be conducted in mainly four stages:
STAGE 1: Identifying the Problem
a) Primary information was explored about the company‘s retail format.
b) Inputs, about the basic (Generic) factors that are considered while patronizing a retail format
were gathered.
c) Various materials published in similar studies were consulted.
d) Key factors & the kind of data required for successful completion were being identified.
STAGE 2: Collecting Suitable Data
a) A questionnaire was framed while considering both the key & the generic factors, which affects
consumer selection behavior & decisions.
b) Personal interview taken of following people:
 Entrepreneurs, Store Managers & Staff working in various retail formats
 Customers who buy apparels from various types of retail stores
STAGE 3 : Analysing & interpreting the collected Data
A data sheet has been formatted & analysed by feeding the data collected by filling
Questionnaires into excel sheet systematically.
STAGE 4 : Writing the Report
Detailed report has been made as per the analysis from time to time in a most possible proper,
convenient & scientific format by applying suitable higher order statistical procedures to define &
interpret the required information.

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2.2 RESEARCH DESIGN
TOPIC: ―The Viability of Liverpool Retail India Ltd. In Large Format Stores‖
AREA OF RESEARCH: Marketing - Retail Management
RESEARCH OBJECTIVES:
 To propose Liverpool Retail India Ltd. a business plan about investment in Multi-brand outlets
(MBOs) & Large Format Stores (LFS)
o To provide information about various pros & cons of the new investment in LFS
o To give data of current status & performance of other apparel brands in all formats of
retail stores
o To derive the relationship between the fresh investment & impact on sales of Liverpool
retail in market
o To know consumer purchasing behavior in Large Format Stores (particularly apparel
department )
RESEARCH TYPE
Our research type is Quantitative and Suggestive research because it compares the performance
of various formats of retail outlets and attractiveness of the investment in the new retail formats.
DATA REQUIREMENT
For this research we required:
i) Entrepreneurs who are already functioning in EBOs, MBOs & LFS
ii) Store Managers & Staff of the various brands present in the store
iii) Customers who are actually purchasing from various types of apparel retail stores
DATA COLLECTION METHOD
Target population was asked to fill up the Questionnaire and Information has been sourced from
books, newspapers, trade journals, and white papers, industry portals, government agencies,
trade associations & monitoring industry news and developments.

Page32
SAMPLING DESIGN
 Sampling Techniques: Probability Sampling Method
In this Probability sampling Method, we had used the Simple Random Sampling as in our
research each respondents in the population had an equal opportunity of selection. Each
Respondent was selected independently of every other respondent.
 Sample Size: 100 people
 Survey area: Customers located in different area of Ahemdabad city
 Scaling Techniques
We have used the Comparative Scaling techniques as for capturing the data about the
preference and performance of various formats of retail store.
LIMITATIONS OF THE STUDY
 It was be difficult to get sales details from the store managers of other apparel brands because
of its confidentiality.
 The bias of respondents while filling questionnaire cannot be eliminated.
 The business proposal is purely on the basis of assumptions due to the lack of data &
experience of the researcher.

Page33
2.3 CONSUMER SURVEY ANALYSIS
2.3.1 Consumers’ Ideal Time for Shopping Apparels
Particulars
No. of
respondents
On Weekends 11
Once or more in a month 16
Once in two months 22
Only on special occasions 27
Only when necessary 24
ANALYSIS:
According to survey, people buy clothes during celebrations such as birthdays, Diwali, or marriage as
27% & 24% of the total respondents prefer to buy apparel on special occasion or when necessary
respectively. Also 22% respondents told that they buy clothes on regular interval of two months or
more for trying out latest fashion.
The 27% of respondents who shop frequently buys clothes from local market or near-by outlets.
11%
16%
22%27%
24%
Graph 2.3.1
Consumers’ Ideal Time for
Shopping Apparels
On Weekends
Once or more in a
month
Once in two
months
Only on special
occasions
Only when
necessary

Page34
2.3.2` Chosen Location To Buy Apparels
Particulars
% of
respondents
Local Market 2
Near-by local retail
outlets
25
Exclusive Brand
Outlet – (e.g.
Spykar, Pepe)
28
Multi Brand Family
Store - (e.g.
Kenzer, Half-ticket)
11
Large Format Store
- (e.g. Central,
Pantaloons,
Westside)
34
Do not prefer to buy
ready-made
garments
0
ANALYSIS:
34% of the sample size has adopted the new retail format to shop followed by exclusive brand: 28%.
Near-by local retail outlets also take prominence when going out for shopping as 25% of the overall
respondents prefer them over other areas.
2%
25%
28%11%
34%
0%
Graph 2.3.2
Chosen Location To Buy Apparels
Local Market
Near-by local retail outlets
Exclusive Brand Outlet – (e.g. Spykar, Pepe)
Multi Brand Family Store - (e.g. Kenzer, Half-ticket)
Large Format Store - (e.g. Central, Pantaloons, Westside)

Page35
2.3.3 Preference of Retail Store Format
Type of Retail Store
Least
Preference
Neither less
nor high
preference
High
Preference
Exclusive Brand Outlet –
(e.g. Spykar, Pepe)
28 25 47
Multi Brand Family Store -
(e.g. Kenzer, Half-ticket)
44 43 13
Large Format Store - (e.g.
Central, Pantaloons,
Westside)
28 32 40
I.
ANALYSIS:
ANALYSIS:
High preference is given to the exclusive brand outlets (47%) followed closely by large format store
(40%). The basis for going to exclusive brand outlet is the variety of merchandise available there &
the staff ambience and service is good as compared to large format store where only limited stock is
available & it‘s much more about self service. The respondents informed that they are not use to the
new trend of going from one corner to other for shopping a single garment.
0
10
20
30
40
50
Least
Preference
Neither
less nor
high
preference
High
Preference
28 25
47
44 43
13
28 32
40
Graph 2.3.3 Preference of Retail Store Format
Exclusive Brand Outlet – (e.g.
Spykar, Pepe)
Multi Brand Family Store -
(e.g. Kenzer, Half-ticket)
Large Format Store - (e.g.
Central, Pantaloons, Westside)

Page36
2.3.4 Scale Of Brand Consciousness While Purchasing Apparel
Rating
No. of
Respondents
1 = Least brand conscious 18
2 = Little brand conscious 22
3 = Neutral 27
4 = Much Brand conscious 19
5 = Most Brand conscious 14
ANALYSIS:
Only 33% of the respondents told that they look for branded apparels while shopping whereas 27%
were neutral on rating their brand consciousness i.e. they said that it depends on the mood or
occasion to go for branded or unbranded apparel.
Besides this 40% respondents are certainly not brand-stuck as they feel that comfort & style is more
important while wearing. So it‘s a good sign for new entrants in the industry to excel by serving the
latest taste to the buyers.
18%
22%
27%
19%
14%
Graph 2.3.4
Scale of brand consciousness while
purchasing apparel
1 = Least brand
conscious
2 = Little brand
conscious
3 = Neutral
4 = Much Brand
conscious

Page37
2.3.5 Ideal Destination To Get Favourite Brand Apparels
Particulars
% of
Respondents
Exclusive brand outlet 45
Large format store 55
2.3.6 Action Taken When Preferred Brand’s Stock Is Unavailable
Particulars
% of
Respondents
Wait for the stock to come 13
Go to another outlet of the
same brand
24
Look for some other brand
immediately
50
Hang around for some time,
then finally shifts to another
brand
13
ANALYSIS:
As per the survey, people are now moving towards large format stores (55%) to purchase their
favourite brand apparels due to the characteristics of variety.
Further if they don‘t like the stuff or stock is unavailable of their preferred brand 50% respondents
said that they would switch to other brands immediately. Thus the frequency of brand loyalty is
decreasing gradually.
This is the present distinctiveness of this dynamic & ever changing apparel retail sector.
45%
55%
Graph 2.3.5
Ideal Destination To Get
Favourite Brand Apparels
Exclusive brand
outlet
Large format
store
13%
24%
50%
13%
Graph . 2.3.6
Action Taken When Preferred
Brand’s Stock Is Unavailable
Wait for the
stock to come
Go to another
outlet of the
same brand
Look for some
other brand
immediately
Hang around for
some time, then
finally shifts to
another brand

Page38
2.3.7 Consumers’ Quantity of Purchase while Shopping For Apparels
Particulars % of Respondents
Exactly what is needed 43
More than what had
been planned
50
Much more than
planned
7
ANALYSIS:
Exactly half of the respondents do shopping more than planned so once they go for purchasing
apparels they look for new styles and new products & if they match their taste they‘ll certainly buy
it.
This gives opportunity to the stores to keep multiple items along with the main merchandise such
as formal wear store keeps tie, belts & handkerchiefs as accessories.
43%
50%
7%
Graph 2.3.7
Consumers’ Quantity of Purchase
while Shopping For Apparels
Exactly what is
needed
More than what
had been planned
Much more than
planned

Page39
2.3. 8Striking Quality of Large Format Stores
Particulars
% of
Respondents
Product range and
variety across all age
groups
30
Multiple brands under
one roof
34
Loyalty programs 7
Ambience/ in store setup 4
Convenience in
shopping
4
Rebates and discounts
on purchase
15
Visual display 6
ANALYSIS:
Multiple brands under one roof (34%) & product range across all age groups (30%) are presently the
new tastes & obvious winners of liking large format stores. 15% of the respondents, generally in early
twenties, also marked rebates & discount on purchase for going to shop in large format stores. The
individual store is unable to fulfill all the demands of the customer at one go so the key to their query
is Large Format Store.
30%
34%
7%
4%
4%
15%
6%
Graph 2.3.8
Striking Quality of
Large Format Stores
Product range and variety across all age groups
Multiple brands under one roof
Loyalty programs
Ambience/ in store setup
Convenience in shopping
Rebates and discounts on purchase
Visual display

Page40
2.3.9 Significant Characteristics while Favouring a Retail Store
Characteristics
% of High Rating-
Respondents
Mean of Ratings
Quality 100 4.21
Variety 100 4.05
Multi Brand 97 3.8
Convenience 93 3.73
Store Ambience 88 3.66
Window Display 86 3.46
Staff Ambience 81 3.46
Affordability 81 3.27
Deals & Offers 65 3
Out store promos 54 2.57
In-store promotions 46 2.51
ANALYSIS:
The customers of sample size gave high priority to quality & variety available while
selecting a retail store to shop. The multi-band, convenience & store ambience are the
important characteristics that a shopper looks for.
The contrasting fact visible here is the affordability & deals and offers are given least
preference over the other factors. This clearly evidences change in buying habits of
Indian consumer.
Thereafter they are also held by the visual merchandising of a store. They want to get
well treated by the staff of the stores.
11%
11%
10%
10%
10%9%
9%
9%
8%
7%
6%
Graph 2.3.9
Significant Characteristics While Selecting
a Retail Store to Shop
Quality
Variety
Multi Brand
Convenience
Store Ambience
Visual Merchandise
Staff Ambience
Affordability
Deals & Offers
Out store promos
In-store promotions

Page41
2.3.10 Rate Of Accessibility To The Facility Of Exclusive Benefits And Privileges Given
In Large Format Stores
Particulars
% of
Respondents
Yes 64
No 36
ANALYSIS:
The response to this question illustrates a differing opinion from the earlier one. On the one hand
respondents have not given importance to the out-store as well as in-store promotions but on the
other hand the rate of accessibility to the exclusive benefits & privileges given in Large Format Stores
is quiet high.
The reason behind to provide these benefits is to retain customer loyalty as today‘s buyer is more
experimenting & brand-switcher.
From the end of the customer, these customer loyalty programs give better remuneration in long term
than discounts & other offers.
64%
36%
Graph 2.3.10
Rate Of Accessibility To The Facility Of
Exclusive Benefits And Privileges Given
In Large Format Stores
Yes
No

Page42
2.3.11 Ideal Retail Store Format For Various Brands To Shop From
Particulars % of Respondents
BRAND
Exclusive
Brand Outlet
Large Format
Store
Flying Machine 57 43
Van Heusen 56 44
Pepe Jeans 43 57
Wrangler 64 36
Lee 45 55
Levi‘s 52 48
Liverpool 30 70
Koutons 38 62
ANALYSIS
The large format store is the current flavour of the respondents over the exclusive brand outlet. The
shopper now doesn‘t want to attach to a single brand for a long time as well as he wishes to have all
the brands under one roof for convenience. People are much loyal to the brands such as Wrangler,
Flying Machine & Van Heusen but Liverpool & Koutons, both discount stores, are much preferred in
Large Format Store so there is a new opportunity for both the brands.
57 56
43
64
45 52
30
38
43 44
57
36
55
48
70
62
Flying Machine Van Heusen Pepe Jeans Wrangler Lee Levi’s Liverpool Koutons
Graph 2.3.11
Ideal Retail Store Format For Various Brands To Shop From
Exclusive Brand Outlet Large Format Store

Page43
2.4 NEW INVESTMENT PROPOSAL
2.4.1 For the fresh investment in multi-brand outlets & large format stores the company should focus
on three decisive factors:
 Shape the category:
Winners will innovate occasions, looks, and wardrobes; the focus will therefore be broader than just
building brands. E.g.:
 Over the past three years, for instance, major jewelry brands have revived a 5,000 year-old
―sacred‖ day known as ―Akshay Tritha,‖ which now accounts for the largest single-day jewelry
sales in India.
 The ―Friday dressing‖ concept, introduced by one apparel brand, asked young professionals to
buy brighter colors for Fridays, expanding the wardrobe in the process.
 There is even a place for more cutting-edge trends such as organic clothing: apparel retailers Van
Heusen and Arrow recently launched 100 % organic lines made of cotton, linen, and natural dyes.
 Focus on inventory and markdown management:
 Today, apparel is one of India‘s most attractive business segments due to its high margins.
Looking at an index based on the cost of a basic white shirt, it has found that Indian apparel prices
have doubled over the last decade, and tend to be 25 to 30% higher than in China as a result of
supply chain inefficiencies and restricted competition.
 Winners will need to get the back-end operations right much earlier than the scale of the market
suggests: managing margin through smarter in-season markdowns, a disciplined balance
between core fashion and high fashion, managing inventory through a proper mix of made-to-
order and later engagement rates, and keeping 50 to 60% of regularly restocked items at the core
have become part of a winning retail formula.
 Though optimum margins on these pieces of clothing may not be as much as the more expensive,
high-impact fashion pieces, they keep customers coming back regularly.
 The high fashion range should be advertised and showcased, but kept only to 10 to 15% of
inventory to reduce the impact of markdowns.

Page44
 Take a segmented view of the market:
 As in many other emerging markets, not all consumer segments or geographies are the same.
E.g., consumers in the north tend to spend more than in other regions due to cooler climates and
different approaches to social occasions.
 Similarly, retailers cannot ignore the smaller cities, which will drive apparel growth opportunities,
even for more expensive brands. Benetton, for example, recently hit $100 million in sales in India,
and is targeting $250 million within the next 3-4 years, largely by targeting smaller cities, which are
already contributing about 20% to the company‘s growth and growing much more quickly than in
the larger markets.
 Winners who want to build real scale in India will be those who understand the market in a
granular manner, and then ―own‖ the customer throughout their lifecycle with a portfolio of brands,
price points, and formats.
2.4.2 PRDUCT INFORMATION
Retail Format: Large Format Store
Brand: Liverpool ‘Youth
Category: Semi-Premium Brand
Style: Casuals
Merchandise: Denims & T-shirts
Accessories – Wallets, Belts, Handkerchiefs
Price Range: T-Shirts = Rs. 699/- to Rs. 999/-
Denims = Rs. 899/- to Rs. 1599/-
2.4.3 TARGET MARKET
Demographic
 Age - Between 18yrs - 30yrs
 Income - >INR 15,000 p.m.
 Generation - Generation Y
Psychographic
 Personality – Competent, Sophisticated, Strivers, Achiever, Experimenters
 Life Style – Brand Conscious, Pleasure & comfort seeker,
Behavioral
 Loyalty Status – Shifting loyal
 Readiness Stage for buying – Interested
 Attitude towards product - Positive

Page45
2.4.4 INVESTMENT SPECIFICS
Investment Breakup:
= Rent amount* + merchandise cost + salary + margin given to store authority + miscellaneous
(branding, snacks expense, incentives, etc.)
*Rent Amount includes furniture fixture, Account Staff/Cashier, Security, Electricity and Common
Maintenance
2.4.5 SOURCES OF FINANCE
Own reserves: Rs. 5 Lac
Bank Over Draft: Upto Rs. 50000
2.4.6 ASSUMPTIONS
 Our projections are based on the assumption that the economy, consumer spending habits and
population growth in India will continue for the foreseeable future.
 It must also be assumed that the company‘s present and future suppliers will continue to sell
inventory at prices that allow us to maintain present margins. It is also important that the company
is able to hire reliable employees at reasonable wages.
 Rent amount:
 Store Space Required: 250 sq. ft.
 Cost Price per sq. ft: Rs. 150/- to Rs.250/- p.m.
 Rent per month: Rs. 220 * 250 = Rs. 55000/-
 Merchandise cost
FY 2011 FY 2012 FY 2013
Avg. Cost price of Jeans (in Rs.) 350 400 400
Avg. Cost price of T-shirt (in Rs.) 150 200 200
No. of pieces bought per year 2800 1600 1200
 The merchandise bought would be in the ratio of 60:40 i.e. 60% of the total merchandise will
be jeans & 40% will be t-shirts.
 During season sale, the discount limit on the merchandise would be up to 40% of the original
selling price.

Page46
 As per company policy: 1 sq ft. = 5 garments
So, 250 sq ft. = 1250 garments
Hence, 1250 garments are required in the store for display & 100 garments will be needed for
stock up in the store house through out the year.
 The creditors will give 90 days credit limit to the company.
Cash Budget for the first year - 2011 (Projected) in Rs.
Jan Feb Mar April May June July Aug Sep Oct Nov Dec
Opening Balance 500000 429000 446429 56238 73524 99038 1224 26424 59167 5382 4846 38799
Sales 0 120000 110000 108000 118800 108000 151200 129600 146200 118800 143000 135000
Other Income
(Interest)
0 0 0 0 0 0 0 0 0 0 0 0
Additional Capital 20000 20000 0 35000 25000 10000 35000
Total Cash Inflow 500000 549000 556429 164238 192324 227038 132424 156024 240367 99182 137846 208799
Rent 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000 55000
Salary 0 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000
Purchase 0 0 405000 0 135000 135000 108000
Commission
(25% on Net Sales)
0 28571 26190 25714 28286 25714 36000 30857 34810 28286 34048 32143
Advertisement
Expenditure
10000 5000 1000 0 0 0 0 1000 0 1000 0 0
Misc. Expenditure 6000 4000 3000 0 0 0 5000 0 0 0 0 0
Interest ( 6% pa) 100 0 0 175 50 0 175
Total Cash Outflow 71000 102571 500190 90714 93286 225814 106000 96857 234985 94336 99048 205318
Net Cash 429000 446429 56238 73524 99038 1224 26424 59167 5382 4846 38799 3481
Profit & Loss Statement for the first year ( Projected) in Rs.
Opening Stock 0 Sales 1388600
Purchase 783000 Closing Stock 365850
Gross Profit 971450
Salary 120000 Gross Profit 971450
Rent 660000
Commission 330619
Misc Expense 13000
Advertisement Exp 18000
VAT 28838
Interest 500
Net Profit
-199507

Page47
INCOME STATEMENT (Projected)
First year '11 Second year '12 Third year '13
Sales 1388600.00 2290000.00 2410000
Less : Cost of Production (417150.00) (465050.00) (384000)
Gross Profit 971450.00 1824950.00 1589473
Less : Administrative & Selling Expense (1170457.00) (1587300.00) (1368142)
EBDIT (199007.00) 237650.00 954861
Less : Depreciation 0.00 0.00 0
EBIT (199007.00) 237650.00 954861
Less : Interest (500.00) (500.00) (50)
EBT (199507.00) 237150.00 954811
Tax @ 30% 59852.10 (71145.00) (286443.30)
EAT (139654.90) 166005.00 668367.70
2.4.7 INCOME STATEMENT PROJECTIONS
The gross sale in the statement shown here is on the basis of no. of units sold per year that is 1500,
2000 & 2300 for the FY 2011, FY2012 & FY2013 respectively.
Based on growth rate of apparel retail sector & our marketing plans, location, store size and product
offerings, we expect to collect annual sales of Rs.13,88,600 in year one, Rs. 22,90,000 in year two &
Rs. 24,10,000 in year three. The break-even would be achieved before the completion of the third
year of the opening of the store. Our minimum monthly fixed costs are Rs.65, 000 per month per
store.
The accompanying income statement gives the specifics of a single store & demonstrates the
company's profitability.
Thus on the basis of presumption at this point it can be concluded that though the project shows loss
in the first year of opening, as the sale grows in the later years the profits margin increases itself
keeping all the external factors constant.
The company can make it a sound investment by its deep knowledge & long experience in apparel
retail industry.
By keeping the quality, variety & style at most priority & good communication strategies followed by
constant watch on the market dynamics & behavioral change in shoppers‘ buying pattern, the
company can make the venture a grand success in long term.

Page48
3. REFLECTIVE NOTE ON INTERNSHIP
In the 6 weeks of the internship program, I have discovered much about the retail industry and its
working culture. I got a good exposure to the real image of corporate life; walking along with multiple
liabilities, new challenges and mind stress every morning. The person who has the skill to manage
this steady stress with ease will get shine as an asset in this field.
I had been specified on-the-job training in marketing division as well as visual merchandising
department. Though both the sections have completely different functions they are interdependent to
hold the company successfully from the front-end.
In the highly dynamic marketing department the duties & responsibilities are changed or added as the
situation demands.
The training helped me in understanding the operations and working at the company based on
franchisee format. I have found out that franchising today has not been restricted to product only
where the franchisor, franchisee transact the product but the franchisor has gone above limits to
include into fold training and orientation of franchisee and his team in maneuvering incredibly
successful sales and imprinting brand name in the minds of customers, through franchise outlet, who
surrogates the face of the brand.
The online as well as telephonic co-ordination among departments which are inside as well as
outside the infrastructure has become an integral part of the job specification.
The project given during the internship enhanced my knowledge about the procedures exercised to
enter into different formats of a retail store. I got the opportunity to meet eminent personalities of the
apparel retail industry to gather information for the report.
The noteworthy learning is to get assurance about the correctness and clarity of information on any
subject or matter prior to taking any decisive action.
The training taught me that to be successful at a position one requires the absolute knowledge of the
industry, clarity of job description & aptitude of learning.
I personally think that sales and marketing is not everyone‘s cup of tea but if one set his target high
and continuously strive towards that, nothing is impossible. The only thing required in our field is a
right & positive attitude towards attaining one‘s goal.

Page49
4. CONCLUSION
After studying the customer survey questionnaire statistically and theoretically as well and after
observing the consumer‘s mood and their preferences it can be inferred that Big Retail is here to stay.
Consumers make retail format choices based on a complex set of interrelated attributes or ―utilities‖.
The relative importance of any one of these utilities is influenced by the environment the consumer is
presented with on any given shopping occasion & hence the consumer‘s preferences are changing
rapidly and becoming highly diversified. It is difficult for the retail stores to satisfy all the needs of the
customers. The most of the consumer‘s want to get some best quality, variety, exclusive benefits and
privileges given on every purchase and a shopping comfort as well. Those who are able to purchase
their needs and want for a month in a bulk prefer to go to the large format stores. Because of
competitions in the market the branded wears have also become affordable so the younger
generation prefers to purchase from the retail outlets where multi-brands are available. Thus, only the
big retail chains are able to satisfy all these needs of the new age consumers whereas there is still
some consumers mostly of the late 20‘s who are willing to purchase from the exclusive brand outlets.
Some of them have perception that these big stores are too costly to afford and some of them are not
able to make purchases in a bulk so they do not want to waste their time to go especially to the big
store for 2-3 items purchase.
Our survey respondents certainly seem to feel that ―who you are selling to and how‖ is going to trump
―what you are selling‖ in the future. This means formats like ―the youth store‖ or ―the senior store‖
might make more sense than ―the apparel store‖.
And the respondents clearly feel that the market is going to take a step back in importance to format
success.
Assuming that improvements in infrastructure and lower real estate costs become a reality, Big Retail
still has a long way to go before satisfying the highly diverse needs of the Indian population. As a
result, there will be a steady state where Big Retail will co-exist with Small Retail.

Page50
5. BIBLIOGRAPHY
 Marketing: An Introduction (7th Edition) by Armstrong and Philip Kotler (2005), Dorling
Kindersley (India) Pvt. Ltd., New Delhi.
 Marketing Research: An Applied Orientation (5th
Edition) by Naresh K.Malhotra &
Satyabhushan Dash (2009), Dorling Kindersley (India) Pvt. Ltd., New Delhi.
 Research Methods for Business Students (3rd Edition) by Mark Saunders, Philip Lewis and
Adrian Thornhill (2007), Dorling Kindersley (India) Pvt. Ltd., New Delhi
 Retailing: Environments & Operations (Indian Edition) by Andrew J Newman & Peter Cullen
(2009), Cengage Learning India Pvt. Ltd., New Delhi.
 ‗Retail Hotspot‘ The Hindu Business Line, 22 August 2002
 http://economictimes.indiatimes.com/articleshow/6078501.cms
 http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=45981969
 http://www.primaryinfo.com/apparel_retailers.htm
 http://www.bespokecreations.net/Resources/Brands%20of%20India_Part_1.pdf
http://www.business-standard.com/india/storypage.php?autono=326168
 http://www.clickindia.com/detail.php?id=2485181
 http://www.docstoc.com/docs/10893194/Indian-Retail-Industry-Report-220708
 http://www.docstoc.com/docs/12163960/RETAIL-CONCEPT
 http://www.financialexpress.com/news/apparel-retailers-move-to-small-towns-for-
growth/494604/0
 http://www.franchiseindia.com/magazineArticlesView.php?magzid=49&artid=49-1-
1&title=May+2009+Vol.+10+No.+3&p1=2&p2=&year=2009
 http://www.indiaretailing.com/news.aspx?topic=1&Id=4155
 http://www.referenceforbusiness.com/business-plans/Business-Plans-Volume-09/Retail-
Clothing-Store.html
 http://www.oppapers.com/essays/Branded-Outlets-Vs-Multi-Brand-Stores/224478
 http://www.scribd.com/doc/27403185/Indian-Apparel-Retail-Sector-an-Overview
 http://info.shine.com/Article/Retail/Retailers-think-big-shift-focus-to-large-format-
stores/4000/cid139.aspx
 http://www.thebusinessplanstore.com/business_plan_financial_projections.htm#BalanceSheet
s
 http://thirdeyesight.in/articles/all_about_format.html

Page51
6. ANNEXURE
A STUDY ON THE CUSTOMER PERCEPTION ABOUT EXCLUSIVE BRAND OUTLET (EBO),
MULTI BRAND OUTLET (MBO) & LARGE FORMAT STORE (LFS)
I, Nikita Sanghvi, the student of Stevens Business School, Kalol, is doing a study on customer perception
about EBO, MBO & LFS stores. I would like you to fill up the questionnaire given below. Your
valuable feedback will help me with the analysis required in completing my project report.
Q1. How often do you shop in an apparel and lifestyle showroom?
a. On Weekends [ ]
b. Once or more in a month [ ]
c. Once in two months [ ]
d. Only on special occasions [ ]
e. Only when necessary [ ]
Q2. From where do you buy your apparels?
a. Local Market [ ]
b. Near-by local retail outlets [ ]
c. Exclusive Brand Outlet – (e.g. Spykar, Pepe) [ ]
d. Multi Brand Family Store - (e.g. Kenzer, Half-ticket) [ ]
e. Large Format Store - (e.g. Central, Pantaloons, Westside) [ ]
f. Do not prefer to buy ready-made garments [ ]
Q3. Rate your shopping preference on the scale of 1-3 where: 1= least preferred & 3= Most preferred
a. Exclusive Brand Outlet – (e.g. Spykar, Pepe) [ ]
b. Multi Brand Family Store - (e.g. Kenzer, Half-ticket) [ ]
c. Large Format Store - (e.g. Central, Pantaloons, Westside) [ ]
Q4. How brand conscious are you; rate yourself on the scale of 1-5:
(Rate: 1= least brand conscious & 5= Most brand conscious) [ ]
Q5. To buy your preferred Brand apparels you go to its-
a. Exclusive brand outlet [ ]
b. Large format store [ ]
Please state the reason for your choice: ______________________________
Q6. What do you do when your preferred brand’s stock is not available?
a. Wait for the stock to come [ ]
b. Go to another outlet of the same brand [ ]
c. Look for some other brand immediately [ ]
d. Hang around for some time, then finally shifts to another brand [ ]

Page52
Q7. When you go to shop for apparels, your purchase remains:
a. Exactly what you need [ ]
b. More than what you had planned [ ]
c. Much more than planned [ ]
Q8. What attracts you towards a Large Format Stores?
a. Product range and variety across all age groups
(menswear, women wear and kids wear) [ ]
b. Multiple brands under one roof [ ]
c. Loyalty programs [ ]
d. Ambience/ in store setup [ ]
e. Convenience in shopping [ ]
f. Rebates and discounts on purchase [ ]
g. Visual display [ ]
Q9. Rate the importance of following for you in a retail store on a scale of 1 to 5, where:
Least important =1 & Most important =5
a. Multiple brands 1 2 3 4 5
b. Variety 1 2 3 4 5
c. Quality 1 2 3 4 5
d. Store ambience 1 2 3 4 5
e. Window display 1 2 3 4 5
f. Staff behavior 1 2 3 4 5
g. In-store promotions 1 2 3 4 5
h. Sales promotion initiative publicized out-store 1 2 3 4 5
i. Deals and offers 1 2 3 4 5
j. Convenience in shopping and product placement 1 2 3 4 5
k. Affordability 1 2 3 4 5
Q10. Would you like to buy apparels of a new brand launched in the Large Format Store?
a. Yes [ ] b. No [ ]

Page53
Q11. Do you think location of store in the proximity area affects your purchase behavior?
a. Agree [ ]
b. Neither Agree nor Disagree [ ]
c. Disagree [ ]
Q12. Have you availed the facility of exclusive benefits and privileges given to loyal customers who
frequently visit the stores? (E.g. Green card in case of Pantaloons, and first citizen cards in case of
Shoppers Stop)
a. Yes [ ] b. No [ ]
Q13 For the following brands, from where would you like to shop:
Exclusive Brand Outlet Large Format Store
a. Flying Machine [ ] [ ]
b. Van Heusen [ ] [ ]
c. Pepe Jeans [ ] [ ]
d. Reid & Taylor [ ] [ ]
e. Wrangler [ ] [ ]
f. Lee [ ] [ ]
g. Levi‘s [ ] [ ]
h. John Players [ ] [ ]
i. Allen Solly [ ] [ ]
j. Liverpool [ ] [ ]
k. Koutons [ ] [ ]
PERSONAL INFORMATION
1. Name: _________________
2. Gender:
Male [ ] Female [ ]
3. Age group (in yrs):
a. Under 18 [ ]
b. 18-25 [ ]
c. 26-35 [ ]
d. 36-55 [ ]
e. > 55 [ ]
4. Area of the residence: ________________________
5. Occupation: ________________________

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