Coimbatore has lots of department stores but the one that stands out in terms of location and selection of items is Nilgiris. Today it was announced that a group of Private Equity firms , Actis from UK and GIC special investments from Singapore paid about $65 million for 65% of the Nilgiris. What this will mean to the consumers is wait to be seen. It is expected by this deal that the presence of Nilgiris brand of products in their retail centers will increase to 40% from the current 20%.
Will the additional investments and new Management will improve the already good customer service ?
This management shift will certainly result in the change in the product mix and it is not hinted whether this will result in any retail center closing and subsequent job loss.
Source: Hindu BusinessLine (Oct 14th)
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