Captive technology centers of global retailers in India such as Target, Rakuten, Lowe’s and JC Penney, grew in the double-digit range in FY18, as retailers continued to move work in-house to their own offshore centers.
JC Penney Services India FY18 revenue grew 154% to $27 million, according to regulatory filings sourced from business intelligence platform Tofler based in Gurgaon, India. “The company is in the process of creating a global marketing capability in the present year of operations,” the technology unit for JC Penney said in its FY17-18 filing with the Ministry of Corporate Affairs in India.
Home improvement chain Lowe’s saw revenue at its India services arm double to $70 million according to regulatory filings. “The company continued building capabilities in analytics and technology delivery and initiated capabilities in support of global shared services. The shared services implementation, while small, is expected to leverage prior investments in technology and the benefits of automation,” Lowe’s Services India said in its FY18 annual filing. The company’s headcount grew by more than 500 to 1,460 in the year.
Target Corp India‘s revenue grew slightly more than 11% to $125 million.
Rakuten India Enterprise, subsidiary of a Japanese electronic commerce and Internet company which launched in India in 2016, reported 54% revenue growth of $14 million. The company said it plans to double its headcount to over 800 in the next 12-18 months.
U.K.’s Tesco Hindustan Service Center Private Limited, based in Bangalore India recorded a 5% year-on-year growth in FY 2018 with a revenue growth of $110 million.
| JC Penney Services India | |
| FY18 | $27 million |
| Growth | 154% |
| Lowe’s Services India | |
| FY18 | $70 million |
| Growth | 102% |
| Rakuten India Enterprise | |
| FY18 | $14 million |
| Growth | 54% |
| Target Corp India | |
| FY18 | $125 million |
| Growth | 11.3% |
| Tesco India | |
| FY18 | $110 million |
| Growth | 5% |
