28 July 2022, Mumbai:

Retail Chain Shoppers Stop reported a consolidated net profit of Rs 22.83 crore for the first quarter that ended on June 30, 2022. The company had posted a net loss of Rs 104.89 crore in the April-June quarter a year ago, said Shoppers Stop in a regulatory filing.

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Its revenue from operations during the period under review was at Rs 948.44 crore, up over four-fold in comparison to a lower base of the pandemic-impacted corresponding quarter. It was Rs 205.23 crore in Q1/FY 2021-22.

Shoppers Stop's total expenses were at Rs 921.63 crore, up over two-fold in Q1/FY 2022-23 as against Rs 408.95 crore.

Its e-commerce sales grow by 29 percent on a year-on-year (YoY) basis, it added.

During the quarter "average selling price (ASP) has improved by 15 percent YoY and the average transaction value (ATV) by 7 percent Y[-o-Y in Q1FY23, The K Raheja Group-owned retailing firm Shoppers Stop continues to remain debt free and opened six new stores during the quarter.

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09 July 2022, Mumbai:

Online retail spending in India is expected to grow nearly six-fold to $300 billion by 2030 with expansion in the number of digitally-influenced shoppers and online shoppers, says a Boston Consulting Group report.

The report adds, the number of digitally-influenced shoppers has grown to 280 million from 260 million and online shoppers have grown to 230 million from 210 million in 2021.

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These numbers are expected to increase by 2.5 times over the next decadewith online retail spending growing by sixfold, adds the report.

The pandemic encouraged new-to-online shoppers and existing shoppers to increase their online purchasing, as physical shopping channels closed or became difficult to access, says Nimisha Jain, Senior Partner and Managing Director, BCG India.

Digitally-influenced retail spend is expected to surpass $1.5 trillion by 2030, and account for about 80 per cent of total retail spends, according to the BCG report.

The survey was conducted with over 10,000 Indian consumers, across more than 40 metro to Tier IV cities and 50 rural towns and villages, and was overseen by BCG's Center for Customer Insight, according to the report.

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05 July 2022, Mumbai:

Direct-to-consumer (D2C) athleisure brand Zymrat has launched its first offline store at Bengaluru’s Garuda Mall.

The brand sees huge growth potential in the offline space and plans further expansion to other parts of the country. Ujjawal Asthana, Co-Founder says, the first flexi retail experience centre will sell products that have recorded massive acceptance online. Ankita, Co-founder adds, the brand is committed to expanding offline through flexi retail, exclusive brand outlets, and multi-brand outlets.

Founded in 2018, Zymrat, an innovation-led performance wear brand, offers a wide range of training and running products such as T-shirts, shorts, joggers, and outerwear for men. It recently raised $500,000 (Rs 3.5 crore) in seed funding led by Dominor Investment Holding LLP.

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28 July 2022, Mumbai:

Embracing a seasonless approach, eponymous designer Gaurav Gupta has launched a new couture collection 'Heiress of Dunes’ as the brand takes a more versatile approach.

The brand’s new collection features textiles including georgettes, organzas, and crepes for a tactile feel.

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With ample bridal options as well as more experimental, red carpet style gowns, the collection brings Gupta’s signature architectural style to a wider audience than ever before.

This can also be seen with Gupta’s growing celebrity clientele which ranges from American musicians Meghan Thee Stallion and Cardi B to Bollywood royalty AishwaryaRaiBachchan.

With Gupta’s latest launch, his brand has gone seasonless and plans to henceforth launch a number of collections annually, without being tied to specific calendars.

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08 July 2022, Mumbai:

Footwear brand Melissa has expanded its retail presence by opening a new flagship store in Mumbai's Palladium Mall to house the brand’s ‘Real Jelly’ plastic shoe collection and a number of other collections.

RELATED NEWS . Melissa expands with new store in Mumbai

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Designed by PipaArquitetura e Design, based in Rio de Janeiro, the store reflects the brand’s values of sustainability, fashion, art, and design.

The bright retail outlet has a peach interior complimented by gold fixtures. The walls are lined with shelves to display Melissa’s vibrant plastic footwear and a number of handbags.

The store also retails the brand’s children’s footwear line. Along with some youth-specific styles, the brand’s children’s offering includes mini versions of its women’s styles such as strappy sandals and slip-ons.

The new store also includes a number of digital features. Footwear from the Real Jelly collection has a QR code embedded in the insoles of each pair and this redirects the wearer to a custom Instagram filter.

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04 July 2022, Mumbai:

Iconic American denim brand Wrangler launched its first store in Mumbai at Linking Road. This is the brand’s 39th store in India. Spread across 950 sq ft, the store sells jeans, T-shirts and shirts. It launched a special collection on the 75th anniversary of Wrangler globally. The brand also offers curated ‘Traveler Collection’ comprising denims for its adventure-ready and thrill-seeking customers. The collection includes black hooded T-shirts, unisex tank tops and T-shirts in black and white colors as part of the ‘Pride Collection’ launched to support the LGBTQIA+ community. To mark Wrangler’s 75th anniversary, the store will give away 75 T-shirts to the first 75 customers.

The store’s design provides customers with an immersive brand experience across fit and styles. Its design resembles a contemporary hangout that showcases denim culture through lifestyle presentations, rich storytelling and interactive touch-points.

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08 July 2022, Mumbai:

To be held on October 30 at the Marvel Stadium in Melbourne, the multi-brand fashion event India Fashion Week Australia will feature collections of a wide range of Indian fashion from veteran and upcoming designers.

The fashion show will celebrate fashion by bringing together brands, models, the wide industry, and the public, and providing them with a networking opportunity.

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Organized by Meillur Event, the last edition of India Fashion Week Australia was organized in 2019 and featured brands including Samant Chauhan, Mini Raxevsky, Nicholas Gilbert, Rimi Nayak, Vicoola, etc.

The event featured Indian ethnic alongside western wear, children’s wear and occasion wear. It also featured live music, a judge’s panel which presented awards, and a ‘GenNext’ segment for new brands. The upcoming event will feature similar clothing styles with participating designers to be announced in the run-up to the event.

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04 July 2022, Mumbai:

Fashion and lifestyle brand Good Earth has launched its latest collection at its Khan Market store in New Delhi in collaboration with women’s wear brand Kismish. The collective between Good Earth and Kishmiss boasts of a color palette of navy blue, red, white, and neutral. Garments in the collection have been designed to be mixed and matched to create minimalistic and sustainable wardrobe. The slow fashion range of handloom textile dresses has been created in collaboration with artisans across India.

The collection uses fabrics scraps from past collections to reduce textile waste and create unique garments. It uses offcuts to create patchwork trims and cuffs for its ‘Potla Potli’ project.

Launched by Rekha Bhatia and Nikki Kalia in Mumbai, Kishmish aims to create simple, comfortable handloom clothing. The brand is known for its relaxed silhouettes, use of heritage craft techniques.