Indiabulls to rebrand its outlets Happy Store

Retailer Indiabulls Retail Services Ltd, under fire for non-payment of dues to several vendors and coping with an economic slowdown that has seen retail sales in India fall by between 10% and 12%, is convinced the situation calls for some cheer and is preparing to unveil a new name, Happy Store, a new logo, a smiley face transposed on a cheerful yellow shopping bag, and a new tagline—“A bagful of smiles”. “Common sense” dictates that Indiabulls Megastore isn’t a name that may “connect too well” with consumers, said Anil Lepps, chief executive officer of Indiabulls Retail, who declined comment on how much the company plans to spend on its rebranding effort.
Indiabulls Retail, the retail arm of Indiabulls Group, a company with interests in businesses such as infrastructure, real estate, financial services, multiplexes and power, entered the business through its late-2007 acquisition of Piramyd Retail Ltd from the Ashok Piramal Group for Rs208 crore. The Piramyd chain was rebranded Indiabulls in January; the 33 smaller grocery stores were branded Indiabulls Mart and the nine bigger lifestyle ones, Indiabulls Megastore. By September, Indiabulls Retail had shut four of the nine stores, and at least 20 of the grocery stores