Archive for September, 2010

A Luxury Brand Called Reliance?? Coming Soon!!

September 27, 2010

How would you feel going to a store near looking out to by the latest designs from Reliance? Yes, this is true. Soon you might just find Reliance selling you luxury amenities at exclusive stores near you.

Reliance Brands, a subsidiary of Mukesh Ambani-led Reliance Retail, is scouting for acquisition in the domestic market, besides launching its own luxury label in the next 18 months. The company, which at present predominantly focuses on men’s range, plans to focus on women and kids wear categories.

Reliance Brands President and CEO Darshan Mehta explained to the media that Reliance Retail has become serious about launching its own brand and has already started work on that and dedicating resources on the same. If everything goes as planned, in the next 18 months it should get going”.

The company is also in discussions with a few existing Indian companies operating in apparel, footwear and accessories space for an acquisition. “The due diligence is for the acquisition,” Mehta said without specifying details. When asked what would be the focus of the company in case of an acquisition or launch of an own label, Mehta said women and children are the two categories, which could be looked at.

Launched in 2007, Reliance Brands has joint ventures with Diesel, Zegna and Timberland. It is also a licensee for Italy’s fashion brand Paul & Shark. The company opened the first outlet for Diesel in March this year and plans to gradually expand the reach of existing brands in its kitty.

“We are not in a hurry to scale up the operations. The company is still in investment mode and the focus is to partner with strong brands,” Mehta said. “In the next two years we are likely to announce tie-ups with two more international brands,” he added without mentioning the names.

On the expansion of the existing labels, Reliance Brands plans to have three more Diesel stores, 10 outlets for Timberland, five outlets for Zegna and four stores for Paul & Shark. Mehta, however, did not reveal the investment planned for the expansion of these brands in the country.

Hence it is pretty clear from the way that reliance has been moving ahead with acquisitions in other sectors that the message here is pretty clear. The women and children categories are always in demand and hence the wily brain of Reliance Retail is going to no doubt target this audience. The only question remaining is that how will reliance manage to keep its buyers interested in the clothesline. Would people like to wear Reliance? Only time will tell.

Reliance Timeout Host to Kara 4 Kids Story Telling Workshop

September 17, 2010

Kids are the wonders of god. Who would not fall in love with these lovable and innocent mischief-makers! And when Mukesh Ambani owned Reliance Retail’s subsidiary Reliance Timeout got an opportunity to welcome an army of toddlers home, how could they defer.
Reliance Timeout at Ambience Mall, Gurgaon utilized the dying art of live storytelling with the help of a team from Kara 4 Kids, Gurgaon’s premier extended preschool and daycare centre. The Kara team of early years’ practitioners narrated a meaningful tale regarding respect diversity; a grown up concept, presented in an age appropriate format.
Learning can take place in the most unexpected ways and keeping this in mind, the jungle scene was set, the audience was in place and the animals were chomping at the bit off stage; time for the performance to begin.
For the team from Kara 4 Kids it was also an amazing experience to have the attention of so many innocent moldable minds. And so commenced “The Jungle Rumble”, a tale of friendship and cooperation.
The response which the team received was tremendous. The children were simply bowled over as Kara’s trained teachers stepped onto the TimeOut stage in full costume to introduce Zeba the Zebra; The Elephant; Jiffy the Giraffe and the Cheeky Monkey.
To further reinforce these values, children were provided with the chance to explore their creativity through a selection of multi-sensory learning opportunities, including making masks, puppets and more. These were further complemented with a range of at-home extension activities, including cold cooking Jungle Energy Bars and making a Jungle Rainstick, thus completing Kara’s customized approach to early childhood teaching.
As regards feedback from the parents, the smile on their faces said it all, as mobile phones and cameras were whipped out to record every moment of their child’s experience, albeit interacting with Kara’s teachers as they revisited the concepts taught by making a giraffe puppet and an elephant mask, or carrying home their Kara good-bag full of their creative handiwork.

Reliance Industries & IBN18 Honor the Unsung Heroes of India

September 14, 2010

Reliance Industries Limited India’s largest private sector enterprise in partnership with IBN18 honored 24 Real Heroes of India. Real Heroes is a movement to acknowledge the unsung champions of the common man who strove tirelessly to promote the welfare of others. These Real Heroes were shortlisted by the editorial team of CNN-IBN, and they were spread across six categories including, Women Welfare, Social Welfare, Health and Disability, Youth, Education and Children & Sports. The ceremony was attended by luminaries including CMD of Reliance Group Industries, Mr. Mukesh Ambani, his wife, Mrs. Nita Ambani, Sachin Tendulkar, Aamir Khan, Yash Chopra and other eminent personalities applauded the heroes who through their extraordinary work have made a difference. Each of the Real Heroes was presented a trophy along with a cash prize of Rs 5 lakh.
The Real Heroes all represent an inspirational story of selfless service, these range from a mechanic in Jharkhand who has set up an orphanage with his own meager resources to provide education, food and shelter to children who were left orphans due to polygamy or alcoholism to a person who has been fighting to preserve the environment over the past three decades. From a hockey coach who is on a mission to train players free of cost to an 80 year old gynecologist who is fighting to rehabilitate mentally challenged women and provide them vocational training so they can be financially independent, and many more who have dared to stand up for the betterment of the society were awarded as the Real Heroes. Speaking on the initiative on behalf of Reliance Industries, Nita Ambani, President of the Dhirubhai Ambani Foundation said, “I feel proud today – proud to be an Indian. I also feel proud of the ‘Indianness’ today. ‘Indianness’ that puts compassion, kindness and empathy before everything else. We salute the benevolence of these extraordinary people. They embody the purity of the human spirit.They may not have received the spotlight of publicity but their actions radiate the sunlight of generosity. Each of these stories is a font of inspiration. My Real Heroes friends you are our crusaders of hope. Thank you for this.”

Finally to conclude the sitting, Rajdeep Sardesai, Editor-in-Chief, IBN18 Network added, “Each one of these real heroes has performed extraordinary deeds to promote the welfare of their fellow citizens and society as a whole. Their path wasn’t easy and they have battled tremendous odds ranging from personal tragedy to social opposition and financial constraints. Yet the flame to make a positive impact has continued to burn bright and they have truly been the instruments of change. I would like to thank all our distinguished guests for their presence here in support of the Real Heroes of our nation”.

RIL buys 3 mn barrels spot Brazil crude

September 3, 2010

Reliance Industries (RIL), operator of the world’s largest refining complex, bought around 3 million barrels of spot Brazilian crude to arrive in India in the next two months, industry sources said on Friday.

The move was made possible by weaker US crude prices versus European benchmark and lower freight rates, traders said.RIL bought from Petrobras a Very Large Crude Carrier (VLCC) of Roncador Heavy and Albacora crudes to be loaded this month and a Suezmax of October-loading Marlin, a trade source said.
Petrobras has provisionally booked VLCC Olivia to load crude in Brazil on September 28 and head for the Indian west coast at a freight rate of W47.5, a shipping fixture from brokerage Clarksons showed.

RIL has also booked VLCC Vega Star to load crude in the Caribbean on September 30 at a freight rate of $2.7 million.

US crude futures have fallen below ICE Brent with the front month differential between the two grades at its widest level since late May, making South American crudes more affordable to Asian refiners.

Crude oil freight rates on major routes were also mostly lower this week due to growing vessel availability.

More Brazilian crudes are flowing into Asia as Chinese and Indian refiners diversify their crude supplies.

RIL’s purchase of Brazilian crudes jumped to 43,060 barrels per day (bpd) last year, up from 2,760 bpd in 2008.

The company operates two refineries with a total capacity of 1.24 million bpd in Jamnagar.

RIL last bought in April a VLCC of Brazilian crudes from Petrobras for June delivery, the source said.

Rising supplies from Canada and the Bakken oil shale may continue to put downward pressure on the front month spread until “the peak in refinery maintenance passes in six to eight weeks’ time”, JPMorgan analysts said in a September 1 note.

“We retain a cautious view on the WTI-Brent differential in light of the structural supply pressures that we see building at the Cushing delivery point,” the analysts said.