Reliance Retail will host an exclusive wedding exhibition-‘The Wedding Collective’ from Aug 23-25, 2024, at the Jio World Convention C-entre in Mumbai.

The three-day exhibition will be attended by India’s leading wedding couturiers, luxury jewelry brands, beauty brands, wedding planners, etc. Over 100 brands will participate in the event.

Some of the designers participating in the event include Abu Jani-SandeepKhosla, Anita Dongre, , Arpita Mehta, Ekaya, Faabiiana, Gaurav Gupta, , KshitijJalori, KunalRawal, ManishaMalhotra, PayalSinghal, Rahul Mishra, Ritu Kumar, Rohit Gandhi + Rahul Khanna, SangeetaKilachand, Krésha Bajaj, Shantnu& Nikhil, Delhi Vintage, Roseroom and SurilyGoel.

IshaMukeshAmbani, Director, Reliance Industries, says, the Wedding Collective promises to be the perfect showcase.The event will be supported by AjioLuxe, HSBC India, the Natural Diamond Council, and Tira Beauty.

As a venue for standout weddings, the JWCC has been designed to cater to events—both intimate and immense, Ambani adds.

Indian fashion retailers are grappling with a slowdown, a period of consolidation after a slowdown in demand that stretched over five quarters, leading to a wave of store closures and a cautious outlook for the coming quarters. Data from FY24 reveals a stark shift from the previous years' aggressive expansion. Major chains like Pantaloons (Aditya Birla Fashion and Retail), Spencer's Retail, and V-Mart Retail witnessed a net decline in store count due to closures exceeding new openings, reflecting a shift in strategy.

Empty storefronts

• Pantaloons, owned by Aditya Birla Fashion and Retail, saw its store count drop from 431 to 417. Closures targeted smaller stores in less populated areas, with a focus on larger towns moving forward.

• Spencer's Retail went from 151 to 133 stores, exiting "non-strategic geographies" in the South.

• V-Mart Retail opened just 9 stores while shutting down 19 underperforming ones.

• TCNS Clothing brands like W and Aurelia slashed their network by 15%, citing a focus on profitable channels as revenue dipped.

• Titan Eye+, a Tata-owned chain, also closed 8 stores in the last quarter.

Reasons for the closures

• Weak demand: The primary culprit is a prolonged slump in consumer spending. This has forced retailers to focus on profitability by trimming their network and exiting non-performing stores in smaller towns and less strategic locations.

• Optimizing networks: Retailers are consolidating their store presence by shutting down underperforming outlets, particularly in smaller towns and non-strategic locations. This strategy aims to reduce operational costs and improve profitability.

• Shifting consumer habits: The post-pandemic period saw retailers experiment with new formats and markets. However, with the slowdown, they're optimizing their presence and focusing on channels that deliver better returns.

Outlook for coming quarters

• Cautious expansion: While the large-scale closures are likely a one-time event, a return to aggressive expansion is not on the immediate horizon. Retailers are expected to adopt a measured approach, focusing on profitability and optimizing their existing networks.

• Focus on profitability: The emphasis will be on cost-cutting measures like network rationalization and improving operational efficiency. This might lead to a continued focus on larger stores in bigger towns.

Not all gloom

• E-commerce growth: While brick-and-mortar stores are consolidating, e-commerce is expected to maintain its growth trajectory. Retailers are likely to strengthen their online presence to tap into this demand.

• Selective expansion: Some retailers, like Meena Bazaar, are still bullish on physical stores and plan to continue measured expansion. However, success will hinge on factors like mall support and effective strategies to drive footfall.

Malls and retailers need collaboration

Experts highlight the need for collaboration between malls and retailers. Malls can support retailers through initiatives that boost sales and ultimately benefit both parties.

Indian fashion retail sector is at a crossroads

The coming quarters will likely see a cautious approach from fashion retailers in India. While store closures might stabilize, a significant rebound in expansion is unlikely until demand picks up consistently.

Retail sales in India saw a modest 3 per cent growth in May 2024 compared to the same period last year, according to the Retail Business Survey by the Retailers Association of India (RAI).

Kumar Rajagopalan, CEO of RAI, noted that while consumer spending on non-essentials remains cautious, food, grocery, and consumer durables are experiencing positive trends.

Retailers are hopeful that the upcoming budget in July will provide incentives to boost consumer confidence and drive further growth in the sector.

South India led retail growth in May 2024 with a 4 per cent increase, followed by East and West India at 3 per cent, and North India at 2 per cent. Food & grocery and consumer durables/electronics grew 6 per cent each, while Quick Service Restaurants saw a 5 per cent rise compared to May 2023.

Retailers are optimistic about the post-election season and anticipate that the budget will offer the necessary support to sustain and enhance this growth trajectory.

Nykaa Fashion has launched a new campaign featuring actor JanhviKapoor and social media influencer KushaKapila to expand its customer base.

Kapoorsays, the curated collection of brands offered by Nykaa Fashion in its Global Store along with the designs from the House of Nykaa Fashion are incredible.

Nihir Parikh, CEO, Nykaa Fashion, adds, the curated collection from over 650 international brands and beloved homegrown favorites enables the e-commerce company to offercustomers everything they need to stay ahead in the game of fashion.

One of the fastest-growing fashion platforms in India, Nykaa Fashion houses over 3,200 brands across women, men, kids, luxe, and home categories to appeal to every consumer.

A Mumbai-based leading denim and casual wear brand, Camaro is set to expand its presence into western and northern India. This strategic expansion aims to double the company's turnover to Rs 200 crore over the next three years.

The brand plans to widen its marketing network to Maharashtra, Gujarat, and Uttar Pradesh, affirms RK Patawari, Executive Director, Camaro. This move is part of the brand’s broader strategies to tap into new markets and increase brand visibility in these populous and economically dynamic regions.

Camaro currently boasts a strong network of over 1,000 dealers, which has established its market leadership in Bengal, Odisha, Assam, and Bihar. The brand’s expansion into western and northern territories will build on this foundation, leveraging Camaro's established reputation and market knowledge.

To support this growth, Camaro has diversified its product offerings beyond denim to include a wider range of casual wear. This diversification is designed to attract a broader customer base and enhance the brand's appeal across different market segments.

Despite a growing trend towards comfort wear, denim will continue to be a primary driver of Camaro’s growth. The brand manufactures 60 per cent -70 per cent of its sales volume in-house at its units near Goregaon and Ludhiana, while the remaining production is outsourced to meet demand efficiently.

Expanding its product range, apparel brand United Colors of Benetton has introduced its SS24 luggage collection in India, catering to shoppers preparing for summer holidays.

Designed for the modern traveler, this new collection features a vibrant palette of yellows, reds, and blues, complemented by darker hues such as black and forest green. The luggage is not only stylish but also designed to ensure the protection of its contents, making it a practical choice for discerning travelers.

In addition to the new luggage collection, United Colors of Benetton has opened a new store in Bengaluru. This two-story retail space boasts a bright, white interior, creating an inviting and contemporary shopping environment. The store houses the brand's diverse range of men’s, women’s, and children’s apparel and accessories collections.

The store features the complete range of United Colors of Benetton's apparel and accessories. The men’s collection at the store offers casual and formal wear, with a focus on vibrant colors and stylish designs. The women’s collection offers a variety of trendy outfits, from everyday casuals to chic evening wear. The kids collection comprises colorful and comfortable clothing options for kids of all ages.

The store is designed to provide a seamless shopping experience, with clearly organised sections for different product categories. Friendly and knowledgeable staff is available to assist customers with their shopping needs.

Known for its commitment to quality and innovative designs, United Colors of Benetton has a strong global presence and is recognised for its vibrant and contemporary fashion offerings. With the launch of the SS24 luggage range and the new store in Bengaluru, United Colors of Benetton continues to strengthen its position in the Indian market, providing customers with stylish and practical products for their lifestyle needs.

German sports footwear and apparel brand, Adidas plans to set up its first Global Capability Centre (GCC) across 45,000 sqft in Chennai. This is the company’s first center in Asia outside of China. Located in the Smartworks-managed Olympia Pinnacle on Old Mamallapuram Road, the facility accommodates 700 seats.

The GCC will handle functions such as planning and analysis, invoice-to-cash, record-to-report, and source-to-pay in India. Led by AkhilKapoor, Vice President of GBS Global Procurement and Head of GBS in India, the ‘state-of-the-art office’ represents a significant upgrade in infrastructure, facilities, and accessibility, reinforcing Adidas's position as a global GBS powerhouse.

Smartworks, which leased 200,000 sqft in Olympia Pinnacle last year, hosts the new Adidas office. The establishment of the GCC highlights India's appeal, offering cost efficiencies and a skilled talent pool. Global multinationals are increasingly leveraging GCCs in India for high-tech capabilities and innovations that drive their operations globally. As of FY23, India had around 2,740 GCCs, according to CBRE India.

While Bengaluru hosts majority of GCCs, Chennai accounts for approximately 9 per cent of the total GCCs in India. In FY24, Chennai leased 3.5 million square feet of GCCs compared to over 9 million square feet in Bengaluru and over 5 million square feet in Hyderabad. Notably, in December last year, Bank of America leased 1.1 million square feet in Chennai’s OMR zone, one of its largest captive centers outside the US.

A prominent brand specialising in plus-sized men’s and women’s apparel, Big Hello plans to open 50 new stores across India in the coming months. The brand recently opened its sixth brick-and-mortar store in the Bengaluru.

Dedicated to catering to all body types, Big Hello offers a wide range of western and ethnic wear specifically designed for plus-sized individuals. The brand’s collection includes denims with flattering cuts that provide comfort for larger sizes.

Its new store in Bengaluru offers specialised tailored denims for plus-size customers, chinos and shorts, blazers, kurtas and ethnic bottom wear, t-shirts and bandh galas and accessories.

Big Hello also operates stores in other cities including Chennai, Vijayawada, Guntur, and Hyderabad. Owned by Absolute Brands and Retail Private Limited, founded by Vishnu Prasad, Big Hello is set on making fashionable, comfortable clothing accessible to plus-sized individuals across India.

Youth-oriented casual wear brand backed by Accel and ViratKohli, WROGN has bagged Rs 125 crore investments from TMRW House of Brands.

Founded in 2014 by siblings Anjana and Vikram Reddy, WROGN is now part of TMRW’s expanding portfolio, which includes eight high-value Indian fashion brands.

Having successfully expanded its presence through both online and offline retail channels, Wrong has established an excellent product market fit and disruptive brand building, says PrashantAluru, CEO and Co-founder, TMRW. The brand aims to elevate its iconic status with TMRW’s deep category expertise, brand building experience, and tech-led scaling approach.

According to a recent report by TMRW and Bain & Company, valued at $110 billion, the fashion and lifestyle sector is India’s second-largest consumer category, with about 10 per cent of this market online, worth $11 billion. The online fashion market is projected to grow to approximately $35 billion by the financial year 2028 (FY28), with a 25 per cent CAGR.

Indian cricketer ViratKohli comments, TMRW’s partnership marks an exhilarating new chapter for the brand, sharing a goal to revolutionise the fashion industry.

Known for its high-quality textile and apparel products, SP Apparels has acquired 100 per cent equity shares of Young Brand Apparel(YBAPL). Marking a significant milestone in SP Apparels’ strategic expansion into the international market, particularly the US, this acquisition enhances its business synergies and market presence.

The acquisition involved a cash transaction of Rs 167 crore. It aligns with SP Apparels’ vision to diversify into new textile categories and strengthen its export portfolio. The move is set to enhance the company’s market presence and build a more robust business model by leveraging YBAPL’s established customer base in the US, UK, Japan, and Canada.

PSundararajan, Chairman & Managing Director, SP Apparels, has been appointed as the new Managing Director of YBAPL and SChenduran, Joint Managing Director, SP Apparels, has been appointed as a Director of the company.

Established in December 2006, YBAPL specialises in manufacturing and exporting intimate wear, catering to well-known brands like American Eagle, Jockey International, Marks &Spencers, Gelmart, and Benetton. The company operates a state-of-the-art facility on 26 acre with a 280,000 sqft factory near Chennai. The company recorded a turnover of Rs. 325.91 crorefor the fiscal year 2022-2023.

Manufacturer of Killer Jeans, KKCL plans to expand its manufacturing capacity from the current 8 million units to 10 million units. The company also plans to open new company-owned outlets across the country, reveals Hemant Jain, Managing Director. This expansion will be carried out with an investment of Rs35 crore in the current fiscal year. It will be a brownfield project adjacent to its existing units in Daman and Vapi.

To improve distribution, the company also plans to open over 10 new stores by March 2025, increasing the total number of outlets to 40. These stores will be opened before the festive season to leverage the high demand during this period, adds Jain.

KKCL recently acquired a 50 percent stake in women's jeans maker Kraus, with the goal of doubling the company's revenue over the next three years from Rs 176 crore in FY24. The company was acquired with an investment of Rs 166 crore.In FY25, KKCL plans to grow its organic revenues to Rs 1,000 crorefrom the current Rs864 crore.

Delhi-based women’s ethnic wear retailer, Meena Bazaar is upgrading its e-commerce operations besides expanding its omnichannel presence in partnership with SaaS platform-Unicommerce.

To offer an improved shopping experience across channels, enable quick deliveries and optimise operational costs, the retailer has implemented Unicommerce’s multi-channel order management and omnichannel retail management systems. The integration of its online channels, offline stores, and warehouses nationwide on Unicommerce will help Meena Bazaar streamline its operations.

Being a trusted name in the e-commerce and SaaS domain, Meena Bazaar looks forward to a long-term relationship with Unicommerce, says AnuManglani, CEO of Meena Bazaar. This collaboration will enable the retailer to offer features such as store pick-up, placing online orders with offline returns (and vice versa), routing order fulfillment to the nearest store, and store-to-store transfers. Unicommerce's technology will allow Meena Bazaar to process orders from various channels and view the entire inventory through a single dashboard.

Founded in 1970, Meena Bazaar specialises in ethnic wear staples including lehengas, kurta sets, sarees, and suits. Starting as a small store in ChandniChowk selling printed sarees, the company has grown to over 70 stores in India and the United States. According to its official website, Meena Bazaar plans to have more than 250 exclusive brand outlets (EBOs) in operation by 2025.