01 August 2022, Mumbai:

Footwear retailer Relaxo Footwears is seeing a growth in demand for products priced at Rs 500 and above, says Rakesh Kumar Dua, MD, Relaxo Footwears. Currently, inflation is high although raw material prices have softened, adds Dua.

The worst sufferers are the masses although demand for articles used by the middle class continues to grow despite inflation, he adds.

ALSO READ Relaxo: Opens store in Orissa 

RELATED NEWS .  Relaxo Footwears expands store count 

The company’s margins are under pressure as raw material prices are high. However, softening of prices in coming quarters will boost margins, he opines. Dua adds decline in inflation is likely to boost demand for its products as people will be able to buy more footwear.

People abstain from buying more footwear during inflation due to the limited flow of money.

Once inflation goes down, again and money is available in the market, products will become more affordable and demand will increase.

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05 July 2022, Mumbai:

Indian retail sector is likely to witness accelerated earnings growth despite rising inflation as consumer sentiments and discretionary purchases bounce back from COVID-19 pandemic.

Sector growth will be boosted by a shift in consumer preferences from unorganized to organized sector coupled with rising domestic demand, says Nishit Master, Portfolio Manager, Axis Securities.

RELATED NEWS  Booming retail market encourages Indian retailers to expand store network 

ALSO READ Rising cotton cost compel Indian fashion retailers to hike apparel prices

Mall footfalls Tier II cities and standalone stores are growing with increasing consumption levels. Retailers are also expanding stores as sales recover to pre-pandemic levels. Aditya Birla Fashion and Retail (ABFRL) plans to set up around 400 stores in their 'Lifestyle' format while Shoppers Stop plans to set up 12 to 13 new department stores. Analysts at Phillip Capital opine, mall-based retailers like Shoppers Stop and Pantaloons could grow relatively faster in the first half of FY23.

Gaurav Dua, Head-Capital Market Strategy, Sharekhan - BNP Paribas, says, domestic players like Trent, ABFRL, and Bata India will perform well in the coming quarters driven by strong domestic demand. However, Indian retailers will continue to remain pressured by a rise in freight and power costs due to increase in crude oil prices and disruptions in supply chain dynamics, adds Dr VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

To offset margin pressure emerging from high input costs and inflation, companies like Westlife Development, V-Mart Retail, and Devyani International hiked prices in the range of 6 to 11 per cent in April 2022.

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02 July 2022, Mumbai:

Amazon India expects its fashion and beauty categories to return to pre-pandemic growth this year for both Indian and international brands as the business penetratesinto non-metro markets.

According to SaurabhSrivastava, Director, Amazon India, some of the retail trends driving this growth include increasing digital adoption across the country and sustainable fashion advancements.

ALSO READ Amazon Retail launches new collection centre in Gujarat

 RELEVANT NEWS Amazon reiterates commitment to continued growth in India

The business has seen increasing demand from Tier 2 cities and beyond in line with increased internet access and adoption in these regions. Over 70% of Amazon’s customer orders and over 86% of the e-commerce platform’s new customers hail from Tier 2 cities and more rural areas, according to Srivastava.

To continue to tap into this trend, Amazon India has been expanding its regional services including its language services. The platform is now available in eight languages and Amazon Fashion is partnering with local influencers for local influencer marketing.

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28 July 2022, Mumbai:

The new sustainable initiative by Luxury womenswear brand Ekaya named ‘Second Chance’ encourages customers to revive their heirloom pieces to either sell on or alter to ensure they remain in circulation.

By filling out the new Second Chance form on Ekaya’s website, interested parties can detail what they have, its condition, and what they want to do with it then Ekaya’s client advisors will get in touch with further information.

RELATED NEWS .  Ekaya collaborates with fusion wear brand Arohi 

ALSO READ  Ekaya launches latest fusion wear collection digitally

The brand will work with damaged heirloom sarees, lehengas, and textile pieces and aims to help their clients resell, revive, restore, repurpose, and rewear their pre-owned Ekaya heirlooms.

Ekaya’s customers can also get in touch with the brand’s client advisors to book an email or phone consultation, the brand announced on Facebook.

Ekaya, which specialises in sarees and traditional wear, is also expanding its product offering and recently launched a homeware line featuring cushions and other goods in its signature printed textiles.

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04 July 2022, Mumbai:

Lenskart has signed a deal to buy a majority stake in Japan’s Owndays Inc, making it one of Asia’s biggest online eyewear retailers. Supported by SoftBankk Group Group, Lenksart will buy the shares held by L’Catterton Asia and Mitsui & Co. Principal Investments. The deal values Owndays at about $400 million.

The Japanese retailer will operate as a separate brand led by co-founders Shuji Tanaka and Take Umiyama but target the premium segment, while Lenskart will focus on the middle and mass market segments, they said. Lenskart will own majority stake in Owndays but the deal is designed as a merger.

The eyewear brand will depend on Owndays to expand presence in physical retail. The deal will help the brand to build a company like Amazon for eyewear, says Piyush Bansal, Co0Founder and CEO, Lenskart.

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 30 June 2022, Mumbai:

The largest store of sportswear brand Adidas was inaugurated by athlete Nikhat Zareen in Bengaluru recently.

The 6,500 sq. ft, three-storey store offers both online and offline shopping services and features Adidas’ complete range of clothing and accessories for running, training, sportswear, football, basketball, golf, tennis and outdoors for men, women and children.

ALSO READ  adidas: Launches 'Run For the Oceans 2022' campaign

Sunil Gupta, Senior Brand Director says, the store provides a global shopping experience to the brand’s consumers besides offering them a glimpse of the brand’s experiences zones, digital touchpoints and sustainability initiatives.

One of the striking features of the store is the ‘Sustainability Wall’ made up from electronic waste displaying the brand’s End Plastic Waste logo. The logo reflects the brand’s commitment to sustainability. Other features of the store include a children’s activity area, an exclusive football floor, and a gaming inspired lounge.

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09 July 2022, Mumbai:

A part of the Ingka Group, Swedish home furnishing retailer Ikea has appointed MuraliIyer as its new chief financial officer (CFO) for its India business.

Iyer will replace Preet Dhupar who has moved into a global role within Ingka Group, and will be part of the IKEA India leadership team reporting to Susanne Pulverer, CEO and CSO (chief sustainability officer).

RELATED NEWS .  Ikea to open first store in a mall at Ghatkopar in Mumbai 

ALSO READ  IKEA India’s maiden Bengaluru store to feature over 7,000 products

He will focus on profit, leading the finance controlling, business navigation, legal, tax, customs, and business risk and compliance teams.

Ikea is currently focusing on priority markets and building a strong home furnishings foundation through its omnichannel expansion to be more accessible, affordable, and sustainable for more customers, says Iyer.

He has over 22 years of experience in financial leadership, having worked with the Volvo Group in India and Sweden in multiple roles.

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04 July 2022, Mumbai:

Footwear brand Birkenstock has strengthened its retail presence in South India by opening its second brick-and-mortar store in Bengaluru’s Orion Mall. The store houses Birkenstock’s classic season-less footwear collection and its seasonal lines for men, women, and children.

Birkenstock recently opened stores in Jubilee Hills, Hyderabad; Lulu Mall, Kochi, and Express Avenue Mall, Chennai. The brand is known for its classic slip-on sandals designed to optimize comfort.

Vinay Bansal, Managing Director, Birkenstock India says, having expanded presence across various states, Birkenstock India is exploring the Indian market. The great response received for its recent store openings encourages the brand to enhance and curate an experience to hence its popularity across India, he adds.

28 June 2022, Mumbai:

Indian fashion shopping fair The Haat will showcase premium and heritage desi brands through business-to-customer fairs in Kolkata this August and October.

A late summer-themed shopping fair will be held from August 5 to 9 at the Kolkata Ice Skating Rin.

ALSO READ B2C fair: The Haat to promote heritage fashion brands

The event will feature product categories including men’s and women’s ethnic and occasion wear, bridal wear, casual wear, children’s wear, accessories, handbags, footwear, jewellery, cosmetics, art, gift items, and lifestyle goods among others.

The Haat will hold an autumn fashion fair from October 20 to 23 at the same location. The exhibition will feature a similar product selection to its August edition but with autumn/ winter collections for the colder months and upcoming festive season.

The shopping event focuses on bridge-to-luxury brands and is organised by events management business Fair Care India. The event recently held a summer edition in Kolkata from June 16 to 20 and has previously announced its July fair which will run from the 15th to the 18th of the month, also at Kolkata’s Ice Skating Rink.

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08 July 2022, Mumbai:

Roperro has been launched as a multi-brand e-commerce platform, with ‘Lerida’ as its flagship label targeting those who like to stay ahead on the fashion curve.

In line with the Indian government’s ‘Make in India’ vision, Roperro is fully conceptualized and manufactured in India. Roperro’s parent company is Malik Tanning Industries which has been the OEM for several large international brands over the last three decades.

Roperro is a versatile and trendy brand embodying an international appeal while it is ‘Indian’ at heart. It seeks to engage India’s young demographic that is making smart choices for itself and follows global fashion trends.

RELATED NEWS   Multi-Brand platform Roperro launched in India

ALSO READ  Roperro launched as a multi-brand e-commerce platform

ArpitaKatyal, CEO, Roperrosays, the brand aims to become a global leader in the luxury apparels and accessories market by catering to the fashion and styling needs of young adults across the country.

The ‘Roperro’ platform will offer 5 sub-brands priced at different ranges to cover a wider consumer base. The brands include Lerida, Monadaa, Zimba, Arkar and MiGearRoperro also promises to be a brand with purpose. A fixed percentage of surplus generated from sales will be used to skill women and educate children at the Vidya Devi Charitable Trust.

Roperro parent company Malik Tanning Industries is a member of the Council of Leather Exporters and the Apparel Export Promotion Council and is compliant with all international compliances.

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02 July 2022, Mumbai:

The Export Promotion Council for Handicrafts will hold the 54th edition of its Indian Handicrafts and Gifts Fair from October 14 to 18 at the India Expo Centre and Mart in Noida, Delhi NCR to promote the industry globally.

The event is one of Asia’s largest gifts and handicrafts fairs and draws a visitor crowd of both domestic and international buyers. The main aim of the fair is to boost India’s handicrafts exports to uplift the sector and demonstrate the wide array of products available from Indian manufacturers.

ALSO READ IHGF Delhi Fair comes to a close

 RELEVANT NEWS  IHGF Delhi Fair received solid business enquiries

The trade show will feature product categories including fashion jewellery and accessories, home furnishings, spa and wellness products, bamboo and eco-friendly products, bathroom accessories, gift items, carpets and rugs, garden accessories, festive décor, and furniture, etc.

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27 June 2022, Mumbai:

A PETA-approved homegrown vegan footwear brand, The CAI Store will open its first official physical outlet at Phoenix Palladium in Mumbai.

As per an Apparel Resources report, the store will open will the brand’s latest collection that aims to elevate both the craft and comfort components of the band.

ALSO READ  Physical fashion shows comeback with a vengeance!

From selling out at their very first small exhibition in 2018 to launching a collection in collaboration with stylist and film producer Rhea Kapoor, CAI is achieved everything within a short span.

It’s great to finally see the brand’s retail vision coming to life with its first store, say Aradhana and DhanrajMinawala, Co Founders.

Started in 2015, The CAI Store is a ‘Made in India’ brand with the sole purpose of providing non-leather and vegan footwear locally and globally to the trend-conscious market at an accessible price point.

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