The coming of age of Indian Retail
Organized Indian Retail is a relatively new sector, not over 30 years old with ‘Pantaloon’ and Shoppers Stop being the pioneers in the business. Besides them, there were only a handful of early adopters in the first decade, a scenario that changed rapidly in the second decade. The late 90’s to 2008 saw a plethora of emerging retail brands in India. With apparel and fashion taking the lead, other lifestyle needs were not too far behind. With the economic wave’s upward crescent and disposable income on the rise, the burgeoning middle class was now spoilt for choice. But in the midst of this massive expansion, a critical question to be asked was, ‘Was Indian Retail at par with international retail?’ The answer was apparent with a walk down a high street or malls— the new flavour in organized Indian retail. Often greeted by straightjacketed mannequins with hanging arms and staid expressions, standing in a military formation in a cramped window. This was the face of the store and it...