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Retail 23-11-21

Beverly Hills Polo Club unveils second exclusive outlet in Hyderabad

20 November 2023, Mumbai

Beverly Hills Polo Club, the US-based clothing brand, expands its presence in India with the inauguration of its second exclusive outlet in Hyderabad, in collaboration with Apparel Group India Private Limited.

This addition not only strengthens the brand's footprint in Telangana but also elevates its nationwide store count to 25.

The new store boasts a sophisticated white and gold façade adorned with the iconic polo player logo. Inside, dark wood accents enhance the classic aesthetic, showcasing a range of casual and smart menswear. A focal point is the vibrant rainbow wall displaying the brand's signature polo shirts.

Recently establishing stores in cities like Surat, New Delhi, Pune, Kochi, Ranchi, Calicut, and Bengaluru, Beverly Hills Polo Club, founded in 1982, positions itself as an affordable luxury brand.

Beyond India, the brand extends its global presence with stores in the UAE, Egypt, Turkey, and more, drawing inspiration from the glamour of Beverly Hills and the rich heritage of polo.

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Retail 23-11-21

Walmart revises net sales guidance for FY’24

Walmart has adjusted its net sales guidance for FY24, forecasting a range of 5 to 5.5 per cent, with adjusted earnings per share expected to fall between $6.40 and $6.48 in the same period. The delayed launch of its Indian ecommerce arm, Flipkart’s ‘Big Billion Days’ festive season this year allowed the company to enhance its consolidated gross margin. The ecommerce company’s gross margin saw a 32 basis points increase. However, the shift of Flipkart’s Big Billion Days sales from Q3 last year to Q4 this year negatively impacted overall and ecommerce sales growth.

The company reported a 3 per cent increase in international ecommerce sales, while advertising sales grew 4 per cent. Flipkart had set expectations to achieve a gross merchandise value of around Rs 33,000-36,000 crore during the festive season sale, which commenced on October 8 and concluded in November. In 2023, Flipkart conducted over half of the total festive season sales through online platforms, contributing to consistent sales growth, especially in sectors such as electronics, food, and groceries, recording double-digit growth over the previous year.

Walmart's international net sales for the year grew 5.4 per cent year-on-year to reach $26.7 billion, with strong performances reported in Mexico and China. The global advertising business experienced 20 per cent growth, with advertising sales from Walmart Connect and Sam’s Club MAP increasing 26 and 27 per cent, respectively.

The American company also recorded a significant improvement in its consolidated net income, reporting $453 million for the third quarter, compared to a loss of $1.79 billion in the same period last year. Consolidated revenue for the third quarter grew 5.2 per cent year-on-year to $160.8 billion. Adjusted earnings per share for the three months ending on October 31 were reported at $1.53.

Retail 23-11-20

Walmart revises net sales guidance for FY’24

Linen Club elevates Hyderabad style with exclusive Lulu Mall outlet

Linen Club, the distinguished menswear and fabrics brand, expands its footprint in Telangana with an exclusive outlet in Hyderabad's Lulu Mall.
Nestled on the mall's first floor, the store boasts a curated collection of both festive and everyday attire. Shoppers can explore an array of printed and plain short-sleeve shirts, progressing to occasion wear staples as they navigate the store.
Linen Club's offerings include a spectrum of smart casual ready-to-wear, encompassing blazers, shirts, and chinos. The fabric selection caters to diverse tastes, featuring western wear suiting fabrics and opulent textiles suitable for special occasions.
Earlier this year, the brand reinforced its presence in Uttar Pradesh with a new store in Kanpur's Z Square Mall, augmenting its retail stronghold in cities like Noida, Lucknow, Varanasi, and Akbarpur.
Boasting over six decades of textile expertise, Linen Club, a part of the Aditya Birla Group, seamlessly integrates its retail prowess with an online presence through its direct-to-customer e-commerce store.

Retail 23-11-15

Linen Club elevates Hyderabad style with exclusive Lulu Mall outlet

Sai Silks Kalamandir expands with 57th store in Chennai

08 November 2023, Mumbai

Sai Silks Kalamandir, the ethnic apparel retail giant, has expanded its footprint with the inauguration of its 57th Kancheepuram Varamahalakshmi Silks store in Chennai's Poonamalle district.
This new addition underscores their commitment to Tamil Nadu's ever-growing ethnic wear market. Actress Khushboo Sundar graced the ribbon-cutting ceremony, adorned in a stunning blue and purple saree.

Outlines
The store offers a diverse collection of premium ethnic sarees and handloom weaves, ideal for weddings and special occasions.
Shoppers can explore Banarasi, Patola, Kota, Paithani, Organza, Kuppadam, and Kancheepuram silk sarees, as well as a range of men's and children's occasion wear.
In line with their growth strategy, Sai Silks Kalamandir plans to expand further in Chennai and build a substantial warehousing facility to accommodate additional stores.
With festivals like Diwali and Christmas approaching, there's no better time to tap into the high demand for ethnic wear in Tamil Nadu.

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Retail 23-11-08

DGFT pegs India’s e-commerce exports at $200 billion in six years

Santosh Kumar Sarangi, Director General of the Directorate General of Foreign Trade (DGFT), stated India's e-commerce exports could reach $200 billion in the next six to seven years, a significant increase from the current $1.2 billion. Speaking at the 'E-commerce Exports' conference organized by the Federation of Indian Chambers of Commerce and Industry (FICCI), Sarangi highlighted the need for changes in logistics handling, policy-making, and the approach of the Reserve Bank of India (RBI) to facilitate this growth in e-commerce exports.

He emphasized for India to achieve this ambitious target, there must be reforms in logistics and policy frameworks. He also expressed confidence that the e-commerce industry will play a pivotal role in helping India realize its broader goal of achieving $2 trillion in exports.

During the conference, Sarangi discussed the initiatives undertaken by the DGFT in collaboration with other regulatory agencies to streamline and facilitate e-commerce exports. He also underscored the importance of creating awareness among exporters to conduct e-commerce business in a fair and ethical manner.

Retail 23-11-20

DGFT pegs India’s e-commerce exports at $200 billion in six years

Reliance Retail’s phenomenal growth makes it Reliance Industries biggest star

07 November 2023, Mumbai

Reliance Industries has many large and successful verticals; however, Reliance Retail is poised to outshine them all.

Following a superb growth trajectory, Reliance Retail has been writing its unstoppable success story for the last four years.

Operational leverage

Reliance Retail's revenue from operations grew 30.4 percent year-on-year to touch Rs 2,30,951 crore in fiscal 2023, up from Rs 1,74,993 crore in fiscal 2022. Earnings before interest, taxes, depreciation, and amortization (EBITDA) saw a hike of 44.7 percent, led by broad-based growth across consumption baskets. Net profit was Rs 9,181 crore in fiscal year 2023 and its valuation has doubled to Rs 8.28 lakh crore at present from Rs 4.28 lakh crore in September 2020.
What’s more, Reliance Retail added over 3,300 new stores last fiscal year, taking the total count to over 18,650 stores, accounting for 71.5 million sq. ft. Currently, Reliance Retail is engaged in the business of retailing products and services across five key consumption baskets, viz., fashion and lifestyle, consumer electronics, grocery, pharma retail, and connectivity.
The quarter ending September 2023 reinforces growth
The Bombay Stock Exchange (BSE) filing shows that a year-on-year gross revenue growth of 18.8 percent, amounting to Rs 77,148 crore, was reported by the organization. In the same quarter in 2022, revenue figures were Rs 64,920 crore. Among its five key consumption baskets, grocery, fashion, and lifestyle maintained stronger growth momentum than consumer electronics, pharmaceutical retail, and connectivity. Another 471 new stores were added in this quarter, and although this year the festive season was scheduled towards the end of the year, the consumer electronics basket showed steady growth.

Nuanced picture
The company’s digital commerce and new commerce businesses continued healthy growth and contributed to 19 percent of its total revenues.
Impressive financial metrics spurs greater growth
Q2 net profit for fiscal year 2024 has gone up 21 percent to Rs 2,790 crore against Rs 2,305 crore in fiscal year 2023.

The EBITDA margin for the quarter, up from 7.6 percent last year, grew to 8.4 percent, driven by operating leverage and a focus on cost management. On a half-year basis, the retail giant’s gross revenue stood at Rs 1,47,096 crore, with a net profit of Rs 5,238 crore.

Quotes
Mukesh D Ambani, Chairman and Managing Director, Reliance Industries, says, “Strong operational and financial contributions from all business segments have helped Reliance deliver another quarter of robust growth.

Reliance Retail has continued to rapidly expand its offline as well as online presence while adding to its already impressive range of products and offerings. We are providing a fresh and friendly shopping experience across our seamless ecosystem.

On the roll; The strength and diversity of our retail business model are consistently delivering robust performance.” In the last Annual General Meeting, he said that Reliance Retail caters to over 90 percent of the daily needs of Indian households, from staples, food, fashion, and FMCG, to home, personal care, and general merchandise.
Analysts tracking the company also maintain that for the Mumbai-based conglomerate, the retail business is going to be the growth engine and the biggest performer in next few years.

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Retail 23-11-10

V-Mart reports for Q2 2024

V-Mart Retail Ltd posted a substantial net loss of Rs 64.12 crore for Q2 2024, in stark contrast to the Rs 11.31 crore loss in the same period last year.
Revenue for the September quarter reached Rs 549.43 crore, up from Rs 506.16 crore in the prior year.
The company emphasized the incompatibility of results, owing to its recent acquisition of LimeRoad's digital marketplace operations.
Hence, comparing Q2 2024 with the results of the same period in 2023 is not valid. V-Mart's total expenses in the September quarter tallied to Rs 637.84 crore.

Retail 23-11-08

Soch soars: Doubles stores, targets 20% online revenue by 2026

18 November 2023, Mumbai

Women's ethnic wear brand Soch is poised for significant expansion, intending to double its store count this year after successfully launching 18 new locations in the previous year.
Notably, the brand revamped its Bengaluru outlet and is actively bolstering its online presence. Soch has prioritized the consumer experience by renovating several stores and unveiling a groundbreaking multi-storey, tech-infused shopping concept in Bengaluru's Jayanagar.

Spotlight
Embracing an omni-channel approach, Soch is integrating new features into its direct-to-customer e-commerce store. The introduction of 'Digital Tabs' will seamlessly connect online and brick-and-mortar outlets. The brand anticipates a substantial boost in its online revenue, aiming for a surge from 11% to 20% by 2026.
In addition to strategic expansion, Soch recently introduced its dazzling 'Baroque' collection, showcasing metallic hues and jewel-toned blouses in shimmering sarees. This festive line, blending simple silhouettes with captivating textiles, is meticulously crafted to resonate with a diverse age demographic.
The brand's financial performance is equally impressive, boasting a remarkable 60% year-on-year increase in revenue for the 2023 financial year.

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Retail 23-11-18

Celio's expansion plans soar

08 November 2023, Mumbai

French menswear brand Celio plans to expand its retail presence with 15 new outlets within the next 8-10 months.
Currently operating 65 standalone stores and being present in multi-brand outlets nationwide, the new outlets will occupy 200-300 square meters, prioritizing data-driven merchandise selection. These stores will feature product displays and a self-navigating concept.

About Brand
Celio's focus extends to the top 5-6 markets in mall locations. Their brand-building efforts include boosting marketing spending to 8% of revenues from the current 6%, while aiming for a consistent 25% Compound Annual Growth Rate (CAGR) over the next 24 months.
Positioned in the premium segment for 24-25-year-olds, Celio has noted a growing demand from the 12-18 age group, accounting for 18% of their business. The company is also streamlining manufacturing for faster consumer response.

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Retail 23-11-08

Cantabil Retail: Strong revenue growth, EBITDA declines

06 November 2023, Mumbai

Cantabil Retail India Limited, the apparel manufacturer and retailer, reported robust revenue growth in H1 FY '24, reaching Rs. 247 crore, a 14% increase from H1 FY '23's Rs. 217 crore.
However, the company saw a slight EBITDA dip, recording Rs. 64 crore for H1 FY '24, down from Rs. 66.7 crore in H1 FY '23. This also led to a decreased EBITDA margin of 25.9% in H1 FY '24, compared to 30.8% in H1 FY '23.

Nuanced picture
The profit before tax (PBT) for the period stood at Rs. 24 crore, a decrease from H1 FY '23's Rs. 31.1 crore. Correspondingly, the PBT margin contracted from 14.4% to 9.7% in H1 FY '24. Profit after tax (PAT) in H1 FY '24 amounted to Rs. 19.8 crore, down from Rs. 23.4 crore, resulting in a PAT margin of 8%, compared to 10.8% in H1 FY '23.
Operationally, Cantabil Retail expanded by adding 35 new stores, increasing the total store count to 482 as of September 30, 2023. The company plans to extend further, targeting over 700 stores in the next 2-3 years.

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Retail 23-11-06

ColorPlus elevates menswear in Calicut, Kerala

Menswear brand ColorPlus has expanded its retail footprint in Kerala with a new exclusive outlet in Calicut's HiLite Mall.
The store showcases ColorPlus' complete range of smart casual separates within a sleek, modern design. The open façade, illuminated in the brand's distinctive green hue, invites customers to explore the vibrant collection.
Gold and white shelves elegantly display polo shirts and jeans, while key pieces from the autumn/winter collection are highlighted in display nooks. The outlet also offers accessories such as leather belts and socks.
Established in 1993, ColorPlus specializes in men's smart casual wear, emphasizing the use of cotton and linen textiles. Acquired by Raymond in 2002, the brand, headquartered in Thane, extends its presence through physical stores, Raymond's e-commerce platform, and various multi-brand online marketplaces.

Retail 23-11-15

ColorPlus elevates menswear in Calicut, Kerala

Myntra's fashion empire expands with 8 new stores in Bengaluru

07 November 2023, Mumbai

Myntra, the fashion e-commerce giant, has just unveiled eight new stores in Bengaluru's Phoenix Mall of Asia, marking a significant achievement. From meticulous design and development to seamless execution, all eight stores were inaugurated on a single day.
These freshly inaugurated stores feature renowned brands like Mango, Mango Kids, Mango Man, Nautica, Nautica Kids, Myntra's diverse lifestyle brand Taavi, French Connection, and House of Pataudi, Saif Ali Khan's ethnic wear brand.

Background
Myntra, headquartered in Bengaluru, boasts a vast online marketplace hosting over 6,000 fashion and lifestyle brands, including global favorites like H&M, Levis, U.S. Polo Assn., Tommy Hilfiger, and more.
Phoenix Mall of Asia, developed by The Phoenix Mills Ltd., welcomed the public on October 27, 2023. Spread across five floors, it houses 440 brands, including 160 international labels, over 200 national brands, and 50 exciting debuts in Bengaluru.

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Retail 23-11-08

Jio World Plaza: India's Largest Luxury Mall to Elevate the Country's Retail Landscape

04 November 2023, Mumbai

Tectonic Shift

India's retail landscape is poised for a significant elevation with the inauguration of Jio World Plaza, the country's largest luxury shopping mall, opened on November 1 in Mumbai. Sprawling across an impressive 750,000 square feet within the Bandra Kurla Complex, this opulent shopping paradise will house renowned luxury brands, including Bvlgari's first Indian store, Cartier, Louis Vuitton, Versace, Valentino, and more, reshaping luxury shopping in India.
Jio World Plaza is a testament to the growing affluence and discerning taste of Indian consumers. It is also a reflection of India's emergence as a major player in the global luxury market. The mall's world-class ambience, curated selection of brands, and unparalleled shopping experience will offer discerning shoppers a truly exceptional experience.
Ascent India

The opening of Jio World Plaza is a momentous occasion for India's retail industry. It is a sign of the country's growing economic prowess and its increasing importance in the global luxury market. The mall is sure to become a popular destination for shoppers from all over India and the world.

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Retail 23-11-04