02 August 2022, Mumbai:

Democratizing fashion in India, the country’s largest and fastest growing apparel and accessories specialty chain of Reliance Retail, Trends, launched its second store in Angul, Odisha.

ALSO READ Reliance Trends to launch shopping festival offering heavy discounts

RELATED NEWS . Reliance-owned apparel chain Trends opens new store in Kerala

By connecting with customers in India, Trends has become India’s favorite fashion shopping destination. The Angul store is modern and features good quality and relevant fashion merchandise for the consumers of the region at prices that are affordable.

Reliance Trends's store houses women’s wear, men’s wear, kids' wear, and fashion accessories, at delightful prices.

The 14,000 sq. ft. store has introduced a special inaugural offer for its customers, besides great relevant fashion and amazing prices.

As part of the special inaugural offer, customers can shop for Rs 3,499 and get an exciting gift at just Rs 199. They will also get coupons worth Rs3,000 absolutely free on purchase of Rs 2,999 from the store.

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28 July 2022, Mumbai:

Kolkata-based garment maker Rupa and Company’s new seller business called RetailFZ is taking over Cloudtail’s home and kitchen business.

Cloudtail was the biggest seller on Amazon before shut by the etailer after acquiring a 100 per cent stake in Prione, as existing norms do not allow an entity running an online marketplace or its group companies to own equity in any seller on the platform or control its inventory.

RELATED NEWS . Rupa & Co Q4FY’22 results reported

ALSO READ  Rupa & Company's Prahlad Rai Agarwala has been awarded the Padma Shri Award

Besides home and kitchen, RetailEZ will also sell sports-related products like gym equipment, Agarwal said.

Cloudtail is moving its business to several new and existing seller firms after Amazon’s acquisition.

The transition has, however, not been smooth. Sales of fast-moving consumer goods have fallen significantly on Amazon India after brands including Nestle, Dabur and HUL could not issue credit to the new sellers over a lack of history in dealing with large business volumes and not having in place the required processes and technologies.

Amazon is assisting these new sellers in the transition by asking former Cloudtail employees to work with them temporarily.

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08 August 2022, Mumbai:

Revenues of mall operators in India are expected to rise amid rising footfalls following the withdrawal of COVID-19 restrictions, projects CRISIL.

The consequent healthy improvement in cash flows and steady debt levels are also likely to improve the average debt service coverage ratio (DSCR1) to 1.3 times this fiscal from 1 time last fiscal.

ALSO READ Good days ahead for retail as developers announce new mall projects

RELATED NEWS .  Retailers Association of India (RAI) expresses disappointment over malls not being allowed to operate 

Anand Kulkarni, Director, CRISIL India Ratings says, malls have seen swifter recovery with each passing COVID-19 wave. The third wave did not materially impact the sector, as malls were not completely shut.

Major mall operators trajectory has since remained strong, with retail sales already at 120-125 percent of the pre-pandemic mark in the first quarter of this fiscal. Business traction has helped malls roll back rental waivers offered to tenants.

That, and escalations based on contractual terms will drive rental income 10 percent above the pre-pandemic level this fiscal, adds Kulkarni

Shopping Mall operators had waived off rent during the pandemic, thereby ensuring healthy occupancies at 90 percent. Additionally, the expected increase in revenue share linked to healthy retail sales has strengthened the cash flow visibility of malls.

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02 August 2022, Mumbai:

Developers’ rush to build A-Grade malls in India has made available almost 10.15 million sq ft of mall space this year, as per an Anarock report.

India is expected to build approximately 15 malls across 12 Tier I, II, and III cities in 2022. Chennai will see the highest development with four malls sprawled over 2.55 million sq ft being developed in the city.

ALSO READ New Mall Supply: Pan-India To Double In 2022

RELATED NEWS . Mall operators: Get Picky & Choosy With Brands

A total of 5.1 million sq ft of new mall space will be provided to Ahmedabad, Bengaluru, Hyderabad, Mumbai, Pune, and Ghaziabad in NCR. Some 2.5 million sq ft is devoted to Tier II and Tier III cities, such as Vadodara, Budaun, Indore, Nagpur, and Udaipur, according to the report.

In recent months, mall occupancy levels have returned to pre-pandemic highs across the country. New shopping malls are coming up and existing ones are looking for ways to expand, says Rohtas Goel, chairman, of Omaxe, whose retail project at Chandni Chowk is at the final stages of construction.

Tier II and III cities are experiencing rapid mall penetration. These cities have seen an increase of 91 percent in mall supply in the past year, according to a recent report.

There has been a significant rise in disposable income in these cities, as well as mobile internet penetration and support infrastructure.

Consumers in these cities have shown an apparent preference for branded products, which has led to rapid growth in organized retail, the report added.

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06 August 2022, Mumbai:

India's biggest real estate developer DLF Malls Delhi plans to bid for a prominent New Delhi shopping mall which has a starting auction price of $366 million.

The 1.2 million sqft "Ambience Mall" in the posh southern district of India's capital has been put up for auction as its current owner, the Ambience Group, has not paid the debt of $149 million to India bulls Housing Finance and other creditors.

ALSO READ Versace: Opens store @ DLF Emporio, Delhi 

RELATED NEWS . DLF to come up with two new shopping malls

DLF malls in Delhi NCR will review data related to the mall's occupancy status and contractual obligations and then consider whether to bid for it or not, one of the sources with direct knowledge said on Thursday.

The Ambience mall houses prominent brands like Swedish fashion retailer H&M and Uniqlo, owned by Japan's Fast Retailing. It is located right next to two other giant DLF mall on the same stretch, including one that houses luxury brands.

A public notice stated the auction will end on September 5 and that the reserve price for the mall was Rs. 29 billion.

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05 August 2022, Mumbai:

According to a RedSeer report, the size of the live commerce market in India is expected to reach a gross merchandise value of $4-5 billion by 2025.

The categories that are expected to contribute to this growth are beauty and personal care, and fashion.

ALSO READ Is It Time For Retailers To Set Up Dark Stores

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Nothing Phone (1) recently debuted on the ‘Flipkart Live’ platform. Around 3.8 lakh users logged in for the sale, with more than 3.19 lakh peak concurrent viewers.

Flipkart has been routinely experimenting with the live commerce section on its app. It engages with content creators to promote different products that make up its inventory.

Users can log in to the Flipkart app, go to the categories tab and click on the ‘Live’ button. When they do so, they are taken to a section where live stream sales are routinely hosted across various categories, like fashion, home furnishings, kitchen tools, beauty and makeup, and electronics.

Myntra (which is also owned by Flipkart) also has a play in the live commerce category. On Myntra’s app, there is a section titled M-Live Potential customers can access live videos by various influencers across various product categories.

At the heart of most live commerce ventures, is the fact that the influencers endorsing these products, are believable and viewed as a credible source of information when it comes to the categories they claim to be experts in.

Rohit Khanna, Co-founder, and COO, of Eleve Media, explains. live stream shopping combines the convenience of instant purchasing of a featured product and the real-time engagement of audience participation through a chat function or reaction buttons.

SowmyaIyer, founder and CEO, DViO Digital, adds, live commerce makes the best use of social media, e-commerce, and streaming technology, and enables real-time interaction.

Khanna points out, that live commerce can potentially make shopping exciting and immersive, allow users to interact with each other, build a community and have conversations, he adds.

PalkushRaiChawla, Director-Product Management, ShareChat&Moj, mentions, that the reason for the rising popularity of social media apps is because people want to watch relatable content.

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29 July 2022, Mumbai:

IKEA India plans to increase local sourcing and cut product prices to attract consumers amid rising prices.

SussanePulverer, CEO, IKEA India has increased the prices of some of its products while absorbing the inflation costs on other products.

RELATED NEWS .  Ikea appoints Murali Iyer as new CFO for India business 

ALSO READ Ikea to open first store in a mall at Ghatkopar in Mumbai 

The retailer has stores spanning 300,000 to 400,000 square feet usually located on the outskirts of Mumbai. The Swedish retailer opened its fourth store in the country in the R city mall, Mumbai. This will be the third store in the city.

Reportedly, even after three stores in Mumbai, the retailer plans to continue with its expansion plans in the city. With the launch of the third store in Mumbai, IKEA will have five operational stores in the country. IKEA India on July 28 will launch its second city store in Mumbai after Worli.

The company also launched a large format store in Navi Mumbai in 2020.

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20 July 2022, Mumbai:

LARGEST FASHION STORE OF V-MART WITH 20000 STYLES INAUGURATED IN ESPLANADE, Kolkata in the august presence of Debabrata Chatterjee, Vineet Jain, Madan Agarwal, Jayesh Kothari, and Arya Sumant.

V-Mart Retail has expanded its retail presence by opening 11 new stores in the April - June quarter of FY 2022-23.

RELATED NEWS .  V-Mart Retail to organize EOSS event at multiple stores

ALSO READ V-Mart Retail expands retail presence with new stores

Founded in 2002, V-Mart is a complete family retail store chain offering apparel, footwear, and accessories for men, women, and kids.

The company has 17 years of experience in providing high-quality affordable fashion. Its retail network spans over 200 stores across 171 towns in 17 states.

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