Latest news with #GlobalCapabilityCentre
Miami Herald
12 hours ago
- Business
- Miami Herald
Costco makes huge investment to improve customer experience
Most of us can probably agree that shopping at a physical store just isn't what it used to be. For starters, that's because there are just fewer stores around. Related: Top Dominos competitor makes a big bet in growing new area Many small or local stores closed during Covid, leaving sizable vacancies for larger corporate incumbents to scoop up. So, when we actually do go shopping at a physical business, it's more likely now than ever before that we're visiting a Walmart, Target, Costco (COST) , Home Depot, or other national brand. While it might be hard for business owners, this isn't the worst thing in the world but customers. These big box stores offer so much variety, it's hard to complain about just popping into one store for everything you need. This is especially the case at Costco, which sells everything from diapers to diamonds. The warehouse club prides itself in its variety. You could easily spend a half (or full) day wandering through its aisles, trying its various samples, and finding the best possible deals on a multitude of consumables without ever having to visit another store. This is great for people that have access to a Costco nearby. But Costco knows it must ramp up its e-commerce capabilities to stay competitive. Image source: Shutterstock Costco's website and app are some of the most frequented e-commerce platforms for good reason. They offers deals on all sorts of items and experiences, but some folks have found issues with the platforms. MORE RETAIL: Popular Mexican chain closing all restaurants, no bankruptcyHome Depot local rival closing permanently after 120 yearsAmazon makes a harsh decision amid concerning customer trendHuge bankrupt retail chain closing down all stores after 80 years Sometimes, top-selling items are out of stock more often than not. And some people find the app hard to navigate. So Costco is opening up a Global Capability Centre in India where employees will work behind the scenes to make online faster and more user-friendly. The efforts should help keep items in stock and streamline supply chain processes. The Global Capability Centre will open up in Hyderabad, India and employ about 1,000 people. The center is the first of its kind for Costco and is designed to help make online shopping easier for customers. Costco is hardly the first corporation to employ a Global Capability Center to make its operational processes easier. Top consumer-facing companies like Walmart, Target, and McDonald's, plus top banks like JP Morgan Chase also use GCCs in India. Costco hopes its Global Capability Center will make online ordering faster and more satisfactory for shoppers. Employees will be tasked with personalizing data to help target certain customers with promotions, which should in turn convert to bigger sales. The center will also help to make deliveries happen faster, which will help Costco compete more effectively with Walmart and Amazon, since the two retailers are celebrated for their speedy same- or next-day deliveries. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
&w=3840&q=100)
Business Standard
26-06-2025
- Business
- Business Standard
Grade A office leasing in Q2 CY25 up 11% across top 7 cities: Colliers
Gross grade A office leasing across the top seven Indian cities in Q2 CY25 grew by 11 per cent year on year (YoY) to 17.8 million square feet (msf), according to a report by Colliers. The growth is said to be due to rising occupier confidence, particularly from flex space operators and firms across sectors like technology, BFSI, and engineering and manufacturing, despite ongoing global uncertainties. In Q2 CY25, five out of the top seven office markets in India witnessed growth in grade A space uptake on an annual basis. Bengaluru led leasing activity with a 27 per cent share at 4.8 msf, but growth remained flat. Hyderabad, Mumbai, and Chennai each recorded over 2.5 msf of leasing in the quarter. However, space uptake in Mumbai declined by 20 per cent YoY. "The robust performance in the first half—with demand reaching 33.7 msf, a 13 per cent year-on-year increase—signals sustained occupier confidence and strong market fundamentals. Backed by a diversifying occupier base, a steady supply pipeline and growing investor appetite, 2025 is shaping up to be another impressive year for commercial real estate in India. Overall, office space demand looks well placed to reach 65–70 msf at least by the end of the year," said Arpit Mehrotra, Managing Director, Office Services, India, Colliers. Gross absorption does not include lease renewals, pre-commitments and deals where only a letter of intent has been signed. Meanwhile, overall supply during the quarter grew by 11 per cent YoY to 14.9 msf. However, cities including Delhi NCR, Mumbai, Kolkata, and Hyderabad recorded a decline on a YoY basis. Of the total 17.8 msf of leasing in Q2 CY25, leasing by flex space operators stood at 4.3 msf. Conventional leasing remained at 13.5 msf, led primarily by the technology and BFSI sectors. Technology firms alone accounted for 6.4 msf space uptake—a 42 per cent YoY growth, driven largely by Global Capability Centre (GCC) expansion. Amal Mishra, Founder and Chief Executive Officer, Urban Vault, said, 'Despite the global uncertainty, the demand for office space continues to gain momentum, driven by competitive operating costs and the growing availability of build-to-suit facilities. This rising demand is not limited to start-ups or small enterprises; large corporations and GCCs are also actively seeking flexible and customised workspaces.' Additionally, the overall vacancy level remained almost stable at 16.2 per cent amid relocations and churns. However, Pune and Hyderabad, with significant completions in Q2 CY25, were at relatively higher vacancy levels.
The Hindu
25-06-2025
- Business
- The Hindu
West Bengal CM Mamata announces new TCS office in New Town, spread over 20 acres
West Bengal Chief Minister Mamata Banerjee announced that plans for a new office of IT giant Tata Consultancy Services (TCS), spanning 20 acres, have been sanctioned at the Bengal Silicon Valley tech hub in New Town. 'I am pleased to share that the New Town Kolkata Development Authority (NKDA) has sanctioned the Phase-I building plan for the TCS office campus at Bengal Silicon Valley, spread over 20 acres,' she wrote on X. According to her announcement, 9 lakh sq. ft. of infrastructure, including an 11-storey office building, will be developed in the first phase. Meanwhile, another 15 lakh sq. ft. of infrastructure will be developed in the second phase. I am pleased to share that the New Town Kolkata Development Authority (NKDA) has sanctioned the Phase-I building plan for the TCS office campus at Bengal Silicon Valley, spread over 20 acres. In this first phase, 9 lakh sq. ft. of world-class infrastructure, including an… — Mamata Banerjee (@MamataOfficial) June 24, 2025 The Chief Minister said that while the first phase is expected to generate 5,000 jobs, the second phase would give rise to 20,000 more jobs. Upon completion, she added, the new campus of TCS will span over 24 lakh sq. ft. of real estate and create 25,000 direct employment opportunities. 'To those who relentlessly malign Bengal and wilfully ignore the strides we are making, let this be a reminder of our capacity to deliver. Bengal is emerging as a hub of innovation, investment, and inclusive growth. BENGAL MEANS BUSINESS, and the world is taking note,' the Chief Minister's social media post further read. Additionally, on June 4, the Chief Minister had shared that semiconductor manufacturer GlobalFoundries will set up a fabless centre for design and testing at their Kolkata Power Centre. Fabless refers to in-house design and marketing of semiconductors, but with the fabrication (fab) process outsourced to a third-party manufacturer. 'We have already facilitated their operations by allotting 13,000 of space at the STPI IT Park in Sector V, Salt Lake. An additional 19,000 has been requested and the process is underway,' Ms Banerjee wrote on social media. She claimed that Santech Global Inc, a New Jersey-based firm specialising in semiconductors, nanoelectronics and telecommunication, has also 'shown keen interest' in setting up a major project in Kolkata. The Chief Minister added that the West Bengal government is working closely with startups, academia, and industry stakeholders to develop a 'comprehensive power electronics system' in Bengal. 'We are in the final stages of drafting the Global Capability Centre (GCC) Policy for West Bengal, which will further strengthen our State's position as a hub of next-generation technology and innovation. These initiatives reflect our commitment to building a robust semiconductor ecosystem in Bengal, creating new opportunities, generating meaningful employment for our youth, and positioning West Bengal at the forefront of India's technological renaissance,' Ms. Banerjee wrote.
Entrepreneur
09-06-2025
- Business
- Entrepreneur
First Citizens India Expands Operations with New Bengaluru Facility
The GCC's mandate covers the delivery of enterprise-grade solutions across core functions critical to the bank's infrastructure and customer engagement strategies You're reading Entrepreneur India, an international franchise of Entrepreneur Media. First Citizens India, the Global Capability Centre (GCC) of U.S.-based First Citizens BancShares, Inc., has opened a new office in Bengaluru, signaling a deepened commitment to India as a strategic operations hub. The announcement was made through a press release issued by the company. The Bengaluru facility features a collaborative and digitally enabled environment designed to support cross-functional teams and foster innovation. The move comes amid the bank's broader push to enhance digital transformation and operational resilience in response to evolving client expectations and market demands. Jeff Ward, chief strategy officer at First Citizens Bank, who is currently in India to mark the inauguration of the new site, noted the importance of the region in the bank's broader vision. "Our decision to expand our footprint in the established hub of Bengaluru allows us to strategically leverage the country's vast talent pool and directly support the long-term commitment to our enterprise vision," he said. The expansion reflects the growing role of India in supporting First Citizens Bank's global operations, particularly in areas such as technology, cybersecurity, finance, risk management, and enterprise operations. First Citizens India has played an increasingly vital role in this transformation journey, integrating the bank's relationship-driven service model into a high-performance global operations framework. The GCC's mandate covers the delivery of enterprise-grade solutions across core functions critical to the bank's infrastructure and customer engagement strategies. Satya Prakash Ranjan, country head and head of technology at First Citizens India, emphasized the dual role of the new office as a center for delivery and talent development. "As we continue to modernise and scale the bank's technology platforms, this facility and our local team give us the flexibility and environment needed to deliver enterprise-grade solutions across a variety of functions," he said. "We are hiring and welcoming colleagues to help us deliver business solutions based on the bank's shared values."
The Hindu
25-05-2025
- Business
- The Hindu
CRDA Commissioner visits New Delhi, seeks investments for Amaravati project
AP-Capital Region Development Authority (AP-CRDA) Commissioner K. Kannababu led a series of high-level meetings aimed at mobilizing investments for the construction of capital city Amaravati, in New Delhi and Gurgaon on Sunday. He also visited the Delhi Aerocity, Gurgaon, The Camellias by DLF, where he had deliberations on premium mixed-use urban development, which forms a critical component of Amaravati's infrastructure vision. He had an interaction with the Managing Director of a leading shared workspace provider on integrating flexible, ready-to-occupy professional workspaces into Amaravati's urban landscape. Mr. Kannababu then visited the One and Two Horizon Centres in Gurgaon and obtained perspectives on cutting-edge commercial space design and Global Capability Centre - readiness. He had strategic sessions with Surbana Jurong and Knight Frank regarding innovative financing models, including Public-Private Partnerships (PPP) and infrastructure bonds, to enhance Amaravati's capital investment portfolio. Also, he held discussions with the Collage Group and Omaxe Ltd. on the development of large-scale infrastructure, including sports stadiums. Mr. Kannababu also announced plans to develop a 1-km-long green canopy along a key stretch in Amaravati inspired by Delhi's Yamuna Biodiversity Park. This canopy will feature three tiers of plantations on both sides of the road, designed to filter air pollution, and be adorned with vibrant, multi-coloured flowers for aesthetic appeal. The AP-CRDA Commissioner was accompanied by Chairman of Urban Green Spaces for CRDA C.R. Babu and other officials.
