A PROJECT REPORT ON
INDEX
Sr.No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 MACRO- INTRODUCTION OVERVIEW OF SECTOR MARKET STRUCTURE AND MAJOR PLAYERS CONTRIBUTION OF THE FDIs LEGAL ISSUES CURRENT ISSUES MICRO- INTRODUCTION HISTORY 4Ps FINANACIAL INTERPRETATION HR POLICY AND CODE OF CONDUCT KEY PERSONNEL CORPORATE SOCIAL RESPONSIBILITY FUTURE PLANS SIGNIFICANT EVENTS SUGGESTIONS AND CONCLUSION Particulars Page No. 3 8 10 13 16 18 21 21 23 25 27 31 31 33 34 35
INTRODUCTION
WHAT IS RETAIL?
The word retail is, in fact, derived from the French w ord retailer, which m eans to cut off a piece or to break bulk.A retailer may be defined as a dealer or trader who repeatedly sells good in small quantities. The sale of goods or commodities in small quantities directly to consumers. Of, relating to , o r eng ag ed in the sale of go od s o r com m o dities at retail. It also m eans to sell in small quantities directly to consumers.
RETAIL The sale of goods individually or in sm all quantities to the public to sell or be sold in small quantities to the public. Retailing consists of the sale of goods or merchandise from a fixed location, such as a department store or kiosk, or by post, in small or individual lots for direct consum ption by the purchaser. Retailing m ay include subordinated services, such as delivery. The sale of goods directly to the consumer; To sell at retail, or in small quantities directly to customers; To repeat or circulate (news or rumors) to others; Of, or relating to the sale of goods directly to the custom er; In retail quantities, or at retail prices To sell directly to the consumer, usually in small quantities in comparison with the total level of sale. Any product for sale in a store or directly to a consumer. Trade in which a client buys or sells an over-the-counter stock through a brokerdealer.
Merchants selling tangible goods in a face-to-face environment who normally use conventional terminals and swipe transactions.
sourcing are also done locally to meet local needs. Its organized counterpart may not obtain its supplies from local sources.
Difference between organized and unorganized retailing The major differences between organized and unorganized retailing lies in its number (chain) of store operations. An unorganized outlet may be just stand alone or can have maximum of 2-3 outlets in a city, where as the organized outlets are "any retail chain (more than two outlets)which is professionally managed (even if its family run), has a accounting transparency (with proper usage of MIS and accounting standards) and organized SCM with centralized quality control and sourcing (certain parts can be locally made) can be termed as an "organized retailing" in India. Retailing in India is predominantly unorganized. According to a survey by AT Kearney, an overwhelming proportion of the Rs. 400,000 crore retail market is UNORGANISED. In fact, only a Rs. 20,000 crore segment of the market is organized. We are known as a nation of shopkeepers with over 12 million, the highest outlet density in the world in the world with an estimated turnover of $ 200 billion. However a disturbing point here is that as much as 96 per cent of them are smaller than 500 square feet in area. This means that India per capita retailing space is about 2 square feet (compared to 16 square feet in the United States). India's per capita retailing space is thus the lowest in the world. Another point to note is that only 8 % of our population is engaged in Retail whereas the global average is around 10-12%. INSTORE RETAILERS This type of retail format is also known as the brick and mortar format. These retail stores are in the form of fixed point sale outlets. They are specially designed to lure the customers. There are different types of stores through which the instore retailers operate.
Branded Stores appear in the form of exquisite showrooms. Here the total range of a particular brand is available and the quality of the product is certified by the government. There are also multi brand specialty stores that sell a series of brands so that the consumer can choose from the wide array of brands. Department stores have a large number of brands and products catering to all basic needs to luxurious items as well. Supermarkets are basically self service retail stores. Discount Stores offer commodities at reduced prices. In Hyper Marts customers have wide variety of products to choose from and they are also available at discounted rates. Convenient stores are located in prominent places within the reach of majority of the customers and do not operate in stringent work hours. Shopping Malls are a storehouse of a large variety of retail shops situated close to each other.
or excess stock left over at the season. The product category can range from a variety of perishable/ non perishable goods DEPARTMENT STORES: Large stores ranging from 20000-50000 sq. ft, catering to a variety of consumer needs. Further it is classified into localized departments such as clothing, toys, home, groceries, etc. DEPARTMENT STORES: 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!. HYPER MARTS/SUPERMARKETS: Large self service outlets, 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. 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
p premium.
MBOs: Multi Brand outlets, also known as Category Killers, offer several brands across a single product category. These usually do well in busy market places and Metros.
O V E R V IE W O F IN D IA N R E T A IL S E C T O R
Retail Sector is the most booming sector in the Indian economy. Some of the biggest players of the world are going to enter into the industry soon. It is on the threshold of a big revolution after the IT sector. Although organized retail market is not so strong as of now, but it is expected to grow manifolds by the year 2010. The sector contributes 10% of the GDP, and is estimated to show 20% annual growth rate by the end of the decade. The current growth rate is estimated to be 8.5%, but CRISIL report says that the retail market is most fragmented in the world and only 2% of the entire retailing business is in the organized sector. There are about 300 new malls, 1500 supermarkets and 325 departmental stores being built in the cities very soon. The retail boom will face a strong competition from the 12 million mom-and-pop stores, which are easily accessible and approachable and provide services like free home delivery and goods at credit. But buying from Malls, Supermarkets and Department stores like Subhiksha, Marks & Spencers, etc gives a different feeling and the environment of pick and choose from a variety of products. A number of retail giants are also going to explore the market such as Reliance Retail Ltd and Wal-mart. The revolution is driven by large expectations where both domestic and international players will be channel through which other large stores in India are spreading themselves across the country. Some of the players present in the industry: Archies, Bata India Ltd, Big Bazaar, Crossword, Ebony Retail Holdings Ltd., Fabmall, Food Bazaar, Globus Stores Pvt. Ltd., Health and Glow, Liberty Shoes Ltd., MTR Foods Ltd., Music World Entertainment Ltd., Pantaloon Retail India Ltd., Shoppers Stop, Style SPA Furniture Ltd, Subhiksha, Titan Industries, Lifestyle, etc.New entrants entering the market soon will be Reliance Retail Ltd, Wal-Mart Stores, Carrefour, Tesco, Boots Group, etc.
Magnification of the Indian Retail Industry Yardstick Value of retail sales Annual growth rate Value of organized market Share of organized market in the sector Forecasts (after 5 years) about size of organized retail market Forecasts about growth rate of organized market The above table clearly shows that the retail market as well as the mindset required for it has experienced a thorough revisal in the last three years. This is just the beginning and Indians are sanguine that the sector will see rosy days in the future. This confidence has helped India acquire the No.1 position among 30 most attractive retailing destinations in the world according to the Global Retail Development Index of 2005 (by AT Kearney, India). Among emerging markets, India holds the second position after China in the list of most favored retail destinations. The retail industry employs a huge share of the total workforce in India. It is the second largest employer after India. Presently 7 percent of the total labor force is employed in the retail sector. According to available data it is also the largest employer in the services sector and maximum growth in the non-agricultural sector has been witnessed by retail trade. According to market analysts 300 new malls, 1,500 supermarkets and 325 departmental stores are going to come up in India in the next few days. The shopping revolution that has led to this retail boom is going to continue and this is a good news for the government as well as those who wish to work in the organized sector. Aroun Aroun Over Rs. 1,00,00 Rs 35,000 Rs 55,000 Situation in 04-05 Situation in 07-0 Rs. 10,20,000 0Rs. 2,00,000 Rs 12,00,000
6.4% 6.8%
10%
P ro jectio n s
of
8% su stain ab le
1997 1998 1999 2000 2001 2002 2003 2034 2005 2006 2007
real GDP growth rate till 2020 h ig h for p rom ise g row th p otential Indian Retail...
CONTRIBUT ION OF FDI IN RETAILING Perm itting Foreign the Direct in retailing Investm ent
sector can have im m ense benefits. It can generate huge em ploym ent for the sem i-skilled as w ell as illiterate population which otherwise can't be em ployed in
retail secto r is d epend en t th e can th e im provem en t o f th e stan d ard of living of by farm ers p urchasin g co m m o dities at a re aso n ab le It out also an co st. ste m s ind irec t em p lo ym en t g en eratio n ch an n el training em ploying people in the transportation and distribution sectors such as drivers, m echanics etc. It is also that evident genuine by and on ru ral facilitate
sector. T h u s it
real estate is a
challenge organized retailing. Traditional retailers use situation their taking franchisees the favor
for
can this in by of
mega
players of this industry. On the other hand, the consumer gains from the wide of variety
choices and a more diversified basket of prices available under one Secondly like roads, expansion telecom 'big other marketing, of sector to the not the roof. the better online
indirect benefits
huge revenue
tax
generated from these biggies collected g overnm en t coffers o ut and the w ill u gly fiscal g radu ally w ip e loo king d eficits. B esid es tran sactio n fo reig n cu rren cies th ese b alan ce exchang e w ill create by a in rate MNCs th e in retail and in
revenu e
w ill in tu rn act as a b o o st to th e d evelo p in g (o r 'transform ing', as suggested of The by the US AID) economy India.
phobias relating to
Greater Per Reduced Tax Greater Consumer Spending due to economic boom Evasion Capita Income GDP Growth
FDI in the retail sector are unfounded as neitherPopulation the retailing sector in India is an infant industry, nor it can outweigh the paramount local tastes and preferences. Let's pray that the retail sector like the IT and manufacturing sector brings happiness in the eyes of the people and help remove the regional and class-based disparities. BENEFITS TO THE GOVERNMENT It will help in increasing employment levels as FDI would result in market growth and expansion which in turn will result in employment generated at various levels
Employ Benefits Greater Exports ment to Govt. Greater Sourcing From India
Increased consumer demand implies employment generation across the value chain as
Revenues certain areas in retail does not need very high skill sets as basic needs are high school graduates Increased Tax
and other similar skill levels which is currently a majorly unemployed demographic group.
different environment where one can pick and choose from a variety of products. Owing to th e entry o f such b ig players, the sm all sho pkeepers fear losin g th eir busin ess. R eliance R etail L td. h as b een in vitin g su ch peo p le to jo in in its D airy bu sin ess as franchisees.
3)ESI Act 4)Bonus Act 5)Minimum Wages Act 6)Industrial Disputes Act 7)Gratuity Act 8)Maternity Act 9)Welfare Act As part of a big move to liberalize the foreign direct investment (FDI) regime, the Cabinet today approved new FDI norms for several sectors including retailing. Retail presents the next big opportunity (worth $250 billion) for the foreign investor. However, foreign direct investment in the India retail sector is currently restricted. There are several methods pursuant to which a foreign investor may gain exposure to the Indian retail sector: i)Pursuant to Press Note No. 3 (2006 series), foreign direct investment up to 51% is now permitted in single brand retail trade with the prior approval of the government; 0)Pursuant to Press Note No. 4 (2006 series), foreign direct investment up to 100% is now permitted under automatic route for cash and carry wholesale trade; or i)The foreign investor could enter into franchise arrangements. LVMH is among the international brands that have indicated interest in a 51% stake. However, multi-brand retail stores such as Wal Mart are not yet permitted.
CURRENT ISSUES
C
The boom in Indias retail sector will continue and top $365 billion in 2008, against $300 billion a year. With a year-on-year growth of 30-35 per cent, the retail trade sector in India will top $440 billion by 2010, says the study by the Associated Chambers of Commerce and Industry of India (Assocham). The study estimated the organised retail segment would witness an additional investment of $70 billion by 2010. In 2008, the
i investment size would be in the region of $25-28 billion.
Mukesh Ambani, RILs chairman, plans to open 100m sq ft of retail space in India by 2010. Local press reports talk of between 5,000 and 10,000 stores spread across 1,500 towns and cities. Ambani has described the concept as a pan-India footprint of multi-format retail outlets.Reliance will operate hypermarkets, convenience and speciality stores, as well as business-to-business operations, selling food, clothing, electrical goods, consumer durables, luxury goods and financial and travel services. The project will employ 1m people within five years. w
P Protests against reliance fresh in UP and Jharkhand.
Chinese conglomerate Li & Fung Group said it is studying India's logistics and retail sectors to expand its presence in the country. The company, engaged in distribution, retail, logistics, private equity and properties businesses, currently sources consumer products worth 550 million dollars from India every year for its global operations."We will look at India for innovative designs and creativity. In the next three years we expect to more than double our sourcing from this country," Li & Fung Group Chairman Victor K
F Fung said today on the sidelines of a FICCI event.
Taxpayers, especially corporates in the retail sector who have to bear the burden of huge rentals for commercial space, could get some relief soon. The government is considering allowing taxpayers to deduct tax at source (TDS) on rents after reducing the total outgo on service tax. North Block is examining a proposal in this regard after receiving references from field formations, and a clarification may be issued shortly. To put it simply, if a taxpayer pays Rs 100 as rent he is liable to pay service tax at the rate of 12%, taking the total outgo to Rs 112. There was a confusion as to whether TDS would be on Rs 100 or Rs 112. As the field formations were in dilemma, in some
instances they had demanded deduction of tax on the final amount of Rs 112. The confusion had arisen after the government brought commercial rental service under tax net in the Budget for 2007-08.
Wal-Mart Store Inc. will open its first cash-and-carry centre in India in 2009, the head of its India operations said on Wednesday. Wal-Mart, which has a venture with India's Bharti Enterprises for cash-and-carry wholesale operations, had earlier said it aimed to open the first of its centres by year-end and open 10-15 centres over seven years.
MICRO ANALYSI S
INTROD UCTION
Established in
1998 as part of the Tata Group, Trent operates Westside, one of India's and growing largest fastest chains Ltd.
of retail stores. The stores numerous departments shopping of These to meet the varied needs include customers. Westside have
Menswear, Womens wear, Kids Footwear, Cosmetics, Perfumes Handbags, Household Accessories, lingerie, Gifts. company and The has and wear,
already established Westside departmental stores (measuring 15,000 - 30,000 square each) Mumbai, Bangalore, Hyderabad, Jaipur, Chennai, Pune, Delhi, Noida, Gurgaon, Ghaziabad, Kolkata, Nagpur, Indore, Ahmedabad, Lucknow, Ludhiana, Surat, Mysore Rajkot. company with offer a & The hopes similar fine feet in 31
to expand rapidly format stores that balance between style and price retailing.
HISTOR Y
This story began
circa 1998 when The acquired Littlewoods a London acquisition based was retail chain. This followed by the establishment of Trent Tata that operates Westside). Littlewoods subsequently renamed Westside.In retail a rapidly evolving scenario, has Westside was Ltd (a enterprise presently Tatas
carved a niche for its brand of merchandise creating a loyal following. Currently, Westside measuring 15,000-30,000 square feet each across 17 cities. With a variety of designs at Westside and is styles, everything the stores company has 31
exclusively designed and the merchandise ranges footwear accessories from and for stylized clothes,
men, women and children to wellco-coordinated table artifacts, accessories furnishings. Well-designed interiors, sprawling space, prime locations and coffee shops enhance customers shopping experience. the linens, home and
THEIR MISSION
At West side the missi on is to be regar ded by their custo mers as the most relev ant retail er in the count ry. In order to achieve this goal, they shall develop
a compre hensive underst anding of their needs, strive to win their confide nce, and offer them best-inclass produc ts and services at afforda ble prices. They shall always be in the forefron t of fashion and services by anticipa ting and exceedi
ng the expectat ions of their custome rs. Their leadersh ip will be the product of their styling, quality and service consciou sness.he y will continue to scale new heights of excellen ce through teamwo rk, in an atmosph ere that encoura ges creativit y and innovati veness.
It is their policy to satisfy our customer s with the range, quality and value of the products we offer. However , if they are dissatisfi ed with any item that they might have purchase d they would take the necessar y measures to assist them. They expect their custom ers to
return unused mercha ndise along with its receipt within 30 days; they would exchan ge the returne d items or give the custom ers a comple te refund. In the eve nt that the cust ome rs do not hav e the
rece ipt the y wou ld offe r the m an exc han ge or pro vide the ma gift vou che r to the cur rent or last kno wn selli ng pric e. They have complet
e confide nce in the quality of our mercha ndise howeve r should if custom ers have any grievan ces, they would be happy to address them once they are brough t to our attentio n.
4 Ps
PRODUCT
The Westside stores have numerous departments to meet the varied shopping needs of customers. These include Menswear, Womens wear, Kids wear, Footwear, Cosmetics, Perfumes and Handbags, Household Accessories, lingerie, and Gifts. Some of them are as follows;
PRICE
Menswear: For men at work and at play, Westsides menswear range extends from formal to casual to sporty. There is also a wide price range starting from value and extending into premium. Womens wear: For women there are western
casual, western formals & very classy ethnic wear with a look unique to Westside. The range does not end with clothes but extends right into accessories with a great range of jewelry, scarves & other accessories. Also available are comfortable lingerie at affordable prices. Kidswear: With a dash of attitude and a sprinkle of playfulness, Westsides Kidswear has a huge range to select from. Catering to a wide age band starting from infants to early teens the garments sport a look that is hip, trendy and very international. Footwear: The range encapsulates footwear for the entire family with a wide variety of choice, great styles and colours to charm everyone. Cosmetic, Perfumes and Handbags: The Westside store has a separate
section for cosmetics and perfumes in some stores. The handbags are tastefully crafted and range from casual to formal wear. Household Accessories: The Westside motto is -Your Dreams Our Visionwhich translates into a Household section that caters to every taste. This section is one of the most contemporary with every item being exclusive & unique. The merchandise is well coordinated & allows customers to mix & match and to create their own look. The range extends from bed linen, towels, table linens to coordinated crockery, a cook shop, glassware and much more to set up an entire home. The range also includes high quality home accessories and dcor product. Gifts : A wonderful gift section with the trendiest of collections that
will leave one spoilt for choice. This section matches every requirement and suits every occasion.
Westsides gift section is vast and includes gifts ranging from photo frames, candle stands, candles, vases, ceramic mugs, lanterns, lamps and more.
PLACE
The company has 31 Westside departmental stores up till now (measuring 15,000 - 30,000 square feet each) in Mumbai, Bangalore, Hyderabad, Jaipur, Chennai, Pune, Delhi, Noida, Gurgaon, Ghaziabad, Kolkata, Nagpur, Indore, Ahmedabad, Lucknow, Ludhiana, Surat, Mysore & Rajkot. The company hopes to expand rapidly with similar format stores that offer a fine balance between style and price retailing.
PROMOTIO N
Westside does its regular brand building through advertisement in the mediawith brand ambassador yuvraj Singh and other young models. More importants its inhouse promotions which peak during main festive seasons, summer, diwali and Christmas. The promotion are mostly them based, with decorations to match, live bands and other attractions.
DIVIDEND: On 30th June 2008, the Board of Directors recommended a final dividend of Rs. 7/- per share
on 1,95,32,896 equity shares (70%) (Previous year interim dividend - 70% on 1,57,60,737 equity shares) involving a distribution of Rs. 13.67 crores (previous year Rs. 11.03 crores). The total outflow will be Rs. 15.24 crores including the tax on dividend of Rs.1.57 crores.
ISSUE OF EQUITY SHARES ON RIGHTS BASIS: During the year under review, the Company allotted 31,48,264 equity shares of Rs 10/- each at a premium of Rs. 490/- each for an amount aggregating to Rs. 157.41 crores on Rights basis to the existing equity shareholders of the Company in the ratio of one fully paid equity share for every five equity shares held on the record date i.e. on 15th May 2007. The shares have been listed on Bombay Stock Exchange Limited and National Stock Exchange of India Limited.
DISTRIBUTION OF REVENUE:
Records A Tata company shall prepare and maintain its accounts fairly and accurately in accordance with the accounting and financial reporting standards which represent the generally accepted guidelines, principles, standards, laws and regulations of the country in which the company conducts its business affairs. 3.Competition A Tata company shall fully strive for the establishment and support of a competitive, open market economy in India and abroad, and shall cooperate in efforts to promote the progressive and judicious liberalisation of trade and investment by a country. 4.Equal Opportunities Employer Employee policies and practices shall be
administered in a manner that ensures that in all matters equal opportunity is provided to those eligible and that decisions are based on merit. 5.Gifts and donations A Tata company and its employees shall neither receive nor offer or make, directly or indirectly, any illegal payments, remuneration, gifts, donations or comparable benefits which are intended to or perceived to obtain business or uncompetitive favours for the conduct of its business. 6.Government Agencies A Tata company and its employees shall not offer or give any company funds or property as donation to any government agencies or their representatives, directly or through intermediaries, in order to obtain any favourable performance of official duties
7.Political NonAlignment The company shall not offer or give any company funds or property as donations, directly or indirectly, to any specific political party, candidate or campaign. 8.Health, Safety and Environment A Tata company shall be committed to prevent the wasteful use of natural resources and minimise any hazardous impact of the development, production, use and disposal of any of its products and services on the ecological environment. 9.Quality of Products and Services The quality standards of the company's goods and services should meet the required national standards, and the company
to
Tata companies are encouraged to develop social accounting systems and to carry out social audits of their operations. 1.Cooperation of Tata Companies In the procurement of products and services, a Tata company shall give preference to another Tata company as long as it can provide these on competitive terms relative to third parties. 2.Public representation of the company and the Group A Tata company shall honour the information requirements of the public and its stakeholders. It will be the sole responsibility of these authorised representatives to disclose information on
the company or the group. 3.Third-Party Representatio n Parties which have business dealings with the Tata Group but are not members of the group, such as consultants, agents, sales representatives, distributors, contractors, suppliers, etc. shall not be authorised to represent a Tata company if their business conduct and ethics are known to be inconsistent with this code. 4.Use Of The Tata Brand The use of the Tata name and trademark owned by Tata Sons shall be governed by manuals, codes and agreements issued by Tata Sons. The use of the Tata brand is
defined in and regulated by the Tata Brand Equity & Business Promotion Agreement. 15.Ethical Conduct Every employee of a Tata company, including whole-time directors and the managing director, shall deal on behalf of the company with professionalism, honesty and integrity, as well as high moral and ethical standards. 16.Group Policies A Tata company shall recommend to its board of directors the adoption of policies and guidelines periodically formulated by Tata Sons. 17.Sharehold ers A Tata company shall be committed to enhance
shareholder value and comply with all regulations and laws that govern shareholders' rights. 18.Regulatory Compliance Every employee of a Tata company shall, in his or her business conduct, comply with all applicable laws and regulations, both in letter and in spirit, in all the territories in which he or she operates. 19.Concurren t Employment An employee of a Tata company shall not, without the prior approval of the managing director of the company, accept employment or a position of responsibility (such as a consultant or a director) with any other company, nor provide 'freelance' services to anyone.
20.Conflict of Interest
An employee of a Tata company shall not engage in any business, relationship or activity, which might detrimentally conflict with the interest of his company or the Group. A conflict of interest, actual or potential, may arise where, directly or indirectly: 21.Securities transactions and confidential information An employee of a Tata company and his or her immediate family shall not derive any benefit or assist others to derive any benefit from access to and possession of information about the company or the Group, which is not in the public domain and thus constitutes insider information.
22.Protecting Company Assets The assets of a Tata company shall not be misused but shall be employed for the purpose of conducting the business for which they are duly authorised. 2 3. C i t i z e n s h i p An employee of a Tata company shall in his or her private life be free to pursue an active role in civic or political affairs as long as it does not adversely affect the business or interests of the company or the Group. 24.Integrity of Data Furnished Every employee of a Tata company shall ensure, at all times, the integrity of data or information furnished by him or her to the company.
Board Of Directors:
F . K . K a v a r a n a ( C h a i r m a n ) N . A . S o o n a w a l a
C o r p o r a t e S o c i a l R e s p o n s i b i l
i t y
I n d ia is a y ou t h f u l country w h e r e a la r g e percentage of the p o p ul a t i o n is in the younger age brackets. We believe that these young people shall be the backbone of the nation in the coming years. It is therefore our intention to focus on socially underprivileg ed children in order to provide them with a chance to have a better life tomorrow. We shall dedicate resources commensura te with our business requirements to community activities that work towards improving the future of socially underprivileg ed children. We shall also use our assets and our expertise in
the retail business to further the cause of such communities. Were it not for the active participation of our customers, our social policy might never have been activated. We are truly grateful for their generosity in supporting our socially conscious endeavours.
Lend a hand
Light a Diya, Help a Child Purchase a diya and light it at Westside du ri ng t he D iwa li Pr o mot io n. F un ds co ll ec te d wi ll be dona te d to NG Os to help bringing smiles to the faces of underprivile ged children. Angels Tree Purchase a Silver Star or a Gold Star during our Christmas Promotion, and decorate our Angels Tree. The money collected will be donated to various NGOs across the country working with underprivileg ed children. Assisting a number of child welfare organizations The co mpany also ext en de d
it s te ch ni cal assis ta nc e to ne w N GO s The company strictly adheres to a number of human rights principles against discrimination & child labour.
SIGNIFICANT EVENTS
In 1998 Tata sold of their 50% stake in the cosmetic products company Lakme to HLL for Rs 200 Crore (approx. 45 million US$), and created Trent from the money it made through the sale. All shareholders of Lakm were given different s shares in Trent. SIMON TATA, the chairperson of Lakm, went on to head Trent. Trent Ltd. operates Westside, one of Indias largest and fastest growing chains of retail stores that currently operate 29 stores in the major metros and mini metros i in India. Westside has Balanced India Brand garnered Scorecard Summit numerous accolades Hall Brand of Leadership Fame Retail
IFA Visionary of the Year Award, 2002 Mrs. Simone N. Tata Most Admired Large Format Retail Chain of the Year - Lycra Images Fashion A w a r d s 2 0 0 5 N NDTV Profit Business Leadership Awards 2006 - Retail Category Westside, Tatas leading chain of retail stores has launched its Designer Development Programme (DDP) to encourage Emerging Talent of the fashion industry and provide them a mass retailing platform. A concept pioneered by Westside; this is a significant step to bridge the gap between exclusive designer w wear and the fashion conscious Indian consumers. It is significant that Trent had in April this year entered into an agreement with The Xander Group Inc, a global private equity firm, to develop and manage an institutional retail real estate portfolio in India in partnership with Indian d developers. The flagship stores planned next year will substantially improve possibilities for cross-promotion between Westside and Landmark, the south-based books and music retail chain in which Trent had acquired 76 per cent stake in 2005.