19 October 2023, Mumbai
The mall will be inaugurated by Indian actress and playback singer Andrea Jeremiah.
The inauguration will also witness a magnificent balloon drop, followed by other exciting activities like band and dance performances and acts by magicians and jugglers.
Please find below the program details:
Day & Date: Friday, 20th October 2023
Time: 5:30 pm onwards
Location: Aerohub Mall, Chennai, Tamil Nadu
19 October 2023, Mumbai
Shoppers Stop's profit plunged 83.2% in the second quarter due to higher costs and lower demand, the company announced on Wednesday.
The department store faced a slump in sales as customers delayed buying clothes and other items for the holiday season.
Historic View
In India, the festive season, which started in September last year, usually contributes a large share of retailers' annual revenue as customers splurge on new outfits, accessories, and other products.
The 2023 festive season will kick off in late October.
Operating Leverage
Shoppers Stop said that its net profit for the quarter ended on September 30 was 27.3 million rupees, a sharp drop from the 162 million rupees it earned in the same quarter last year.
The company's revenue also declined by 3.5% to 9.34 billion rupees.
Shoppers Stop attributed the decline in profit to higher costs, including employee salaries and rent, as well as lower demand from customers.
The company said that it is expecting a rebound in sales in the third quarter as the holiday season begins.
State of affairs
Shoppers Stop's results are a reflection of the challenges facing the Indian retail industry.
The sector has been hit hard by the COVID-19 pandemic, which has led to a decline in consumer spending.
The rise of e-commerce has also put pressure on traditional retailers like Shoppers Stop.
The upcoming holiday & festive season is expected to provide a boost to sales, as the festive season is typically the busiest time of year for Indian retailers, as consumers spend heavily on new clothes, gifts, and other items.
The company's results are a reminder of the challenges facing the Indian retail industry.
13 October 2023, Mumbai
A report by ANAROCK Capital, FLUX - 1H FY24, shows that private equity (PE) investments in Indian real estate rose by 17% to USD 117 Mn in the first half of FY24.
The growth was mainly driven by a mega deal of USD 1.4 Bn, in which two office assets in Mumbai and Gurugram were acquired by Brookfield India REIT and GIC from Brookfield Asset Management.
The report also states that:
Office assets attracted the most PE investments, followed by data centers and residential real estate.
Equity investments accounted for 89% of the PE funding.
Domestic investments grew by 9%, while foreign investments declined by 11%.
06 October 2023, Mumbai
Shoppers Stop has unveiled a new Kashish collection alongside their Diwali campaign 'Tyohar Ki Nayi Kashish', featuring their brand ambassador, Sanya Malhotra. The campaign aims to inspire everyone to embrace new experiences and traditions during the festive season.
Embodies the Spirit of Embracing the New
Sanya Malhotra embodies the spirit of embracing the new. Her versatility and fresh perspective resonate perfectly with the campaign's thought of trying to do something new and innovative.
Collection Promises to Add a Touch of Glamour
The brand-new Kashish collection features curated chic apparel, in bright festive hues along with contemporary silhouettes, eye-catching embroidery and detailing, gorgeous ethnic wear sets, and sparkling kurtas, promising to add a touch of glamour and radiance to your celebrations.
Radiance to Your Celebrations; This Diwali, Shoppers Stop and Kashish invite everyone to join in the celebration of fresh ideas and boundless creativity.
16 October 2023, Mumbai
Great festive season 2023 shopping has begun in all earnest in India. The country’s economic health was reinforced by a recent Reserve Bank of India study which highlighted consumer spending that accounts for 60 percent of GDP proving its forecast for economic growth of 6.5 percent this fiscal.
In this robust spending spree, e-commerce platforms are rubbing their hands in glee as projections show not only will the dynamic economy see a splurge during the festive season but also a stable spending pattern next year.
E-commerce sales graph rising and how
As per the Ministry of Commerce’s estimates, the e-commerce market is projected to expand to $350 billion by 2030 from an estimated $63 billion in 2023. Bengaluru-based consultancy firm that specializes in monitoring 100 Indian e-commerce platforms which contribute nearly 90 per cent of India’s e-commerce sales says between October and November this year, Indians will be spending almost $1 billion, a record sales and 20 per cent more than last year. Amazon, Flipkart, Myntra, Ajio, Nykaa, Meesho, and Snapdeal –are in it to win it thanks to the enormous orders pouring in and they are recording a 15 percent increase in order volumes compared to last year within the first days of their festive sale campaigns.
E-commerce platforms are elated as the fear of inflation and higher interest rates are not dampening Indian consumers' spirit.
This is not surprising at all as according to RBI, consumer confidence touched a four-year high in September riding on stabilizing inflation and improving employment conditions.
Big guns are breaking their own records
The Great Indian Festival of 2023 has so far been the most lucrative of Amazon India’s festive campaigns with Vice President Manish Tiwary stating that this year witnessed the biggest start. Similarly, Flipkart’s Vice President Arif Mohammed went on record to say the festive season started phenomenally with seven to ten times more orders than the pre-festive season for garments, furniture and furnishing, domestic appliances, and electronics.
Readiness
Both retailers hired over 200,000 temporary workers to meet the rush and added over 300,000 new sellers, according to company officials.
The leader of India’s fashion e-commerce, Online Myntra’s Big Fashion Festival, popularly known as BFF saw a winning streak in not only its core but also emerging categories.
When the sale opened on October 7, millions of customers were shopping on Myntra, with equal weightage from metros and non-metros for festive purchases, with 45 percent being Tier II and III cities and about 10 percent from smaller places. The biggest sales were of kurta sets, lehengas, co-ordinated sets, shirts, jeans, and T-shirts. Myntra’s BFF 2023 is expected to yield 8 million shoppers, an increase by 2 million from BFF 2022.
Meesho’s Mega Blockbuster Sale 2023 also recorded a hit and seems to have made deep inroads in the country with 70 percent orders from Tier II, III, and IV cities.
Boom-time for delivery service providers
In anticipation of the Tsunami of festive orders, most e-commerce firms upped their delivery outreach by organizing delivery solutions for more customers living in non-metro areas. Gurugram-based supply chain management agency Prozo’s CEO Ashwani Jakhar was amazed that within the first two days of Amazon’s “Great Indian Festival of 2023” campaign 80 percent of deliveries were from Tier II and III cities and small retailers saw a 35 percent increase in sales compared to the festive sale of 2022.
Jhakar feels the e-commerce boom is a blessing for the logistics sector, providing small entrepreneurs the incentive to grow their businesses and generate a large number of jobs for the local youth.
11 October 2023, Mumbai
America’s iconic denim jeans Levi’s is the number one brand in the world, selling the most number of units compared to competitors such as Wrangler, Lee, Calvin Klein amongst others in the middle-price range.
However, in India popularity wise, Levi’s ranks third and is classified as a premium brand. Levi's entered Indian market in 1994 through a wholly-owned subsidiary Levi Strauss India. And nearly 30 years later, the American denim brand has over 500 exclusive brand outlets (EBOs) spread across the country.
Multimodal approach
Levi’s in India also retails from multi-brand outlets (MBOs) such as Pantaloons and Shoppers Stop. And as Michelle Gass, the President of Levi Strauss & Co. says, India is sixth largest global market for the brand and the number one within Asia.
Gass is confident of the tremendous growth Levi’s is experiencing as it has increased 50 per cent post pandemic and there is a great potential to become the most preferred American jeans in the country as youth make up over half of its 1.4 billion population.
India largest Asian market and talent hub
Fiscal 2022 was a bonanza for Levi Strauss & Company in India as it increased its net sales by a whopping 58 per cent to Rs 1,154 crore – it should be noted that the Levi Strauss Co’s revenues in India are on sales that are accounted at wholesale prices to franchise partners. Gass says, India is primarily a franchise market and the local team did a good in curating a diverse Levi’s product portfolio of tops and bottoms, driven by Levi’s international design team as well as the local production capabilities.
Gass also acknowledged that the Indian franchisees are its major success element as they not only believe in the Levi’s brand and its potential here but also putting in the right mix of efforts to popularize it across the diverse population of the country.
Sequence of events
During the pandemic-led lockdown, most franchisees invested in the brand’s retail store square footage across the most reputable and popular malls to leverage long-term opportunities. Keeping in mind the role of franchisees in its success story in India, the company has filtered down the most committed and serious players to a manageable 25 compared to 80 in the past – the strategy is to focus on servicing and strengthening the best partnerships as Levi’s grows in leaps and bounds.
The company also opened 100 per cent owned outlets which are slightly larger than the usual 2,000 square feet EBOs in India. As Levi’s globally has an extended portfolio beyond denim, a large part of its marketing effort since 2022 has been in promoting its non-denim line of clothing and accessories.
India, China and Japan bolster Asian performance
CFO Harmit Singh is confident that with India in the lead, the Levi’s brand will continue a stellar run across Asia – the overall growth in Asia has achieved a greater expansion of its operating margin in the continent with a 330 basis points increase, reaching 12.3 per cent.
Singh points out the company achieved robust Asian growth of 18 per cent and will continue focusing on its three key markets, namely India, China and Japan. China contributes 3 per cent to Levi Strauss & Co’s total revenues.
06 October 2023, Mumbai
Uniqlo, the renowned Japanese apparel giant, has marked its debut in Mumbai by inaugurating a sprawling 11,500 sq. ft. store at Phoenix Marketcity, Kurla. This strategic move represents Uniqlo's 11th brick-and-mortar store in India, showcasing its commitment to the Indian market.
The store encompasses two floors within the mall, offering a wide array of Uniqlo's Lifewear collection for men, women, and children, featuring items like jackets, t-shirts, shirts, and jeans. Notably, this store also boasts a unique creative touch by local architect and illustrator Aashti Miller.
Retail Footprints
Uniqlo's expansion plans in Mumbai continue with another store set to open at Oberoi Mall, Goregaon, on October 20, 2023. The retailer aims to establish six to eight additional stores in Mumbai and Pune over the next two years, actively engaging with prominent malls in these cities.
Despite initial challenges posed by the COVID-19 pandemic, Uniqlo's presence in India is steadily growing, with existing stores in Delhi NCR, Chandigarh, Lucknow, and Zirakpur.
This move underscores the brand's global footprint, with over 2,400 stores across Japan, Asia, Europe, and North America. Uniqlo operates under the umbrella of Fast Retailing Co. Ltd., a Tokyo-based retail holding company, which houses a portfolio of diverse brands.
13 October 2023, Mumbai
Month-long Extravaganza of Shopping, Dining, Entertainment, and Celebration
DLF CyberHub, Gurugram's premier entertainment and shopping destination, is celebrating its 10th anniversary with a month-long campaign called 'Feel the Beat'.
The campaign promises to be bigger, better, and more exciting than ever before, with incredible offers, exclusive giveaways, and fun activities.
Spoilt for choice
From October 9th to 30th, customers can win vouchers worth 2K-6K on retail purchases, and the highest weekly shopper will take home a Samsung Galaxy Flip 5.
There's also a 'Mega Prize Lucky Draw' where customers can win a Skoda Slavia by spending INR 50K or more on food, beverage, and retail.
To mark the occasion, CyberHub is also hosting an Oktoberfest celebration from October 11th to 25th, with a carefully curated selection of the finest brews, delectable culinary delights, and an exciting Pub Crawl.
Unbox
For those looking for some interactive fun, CyberHub is launching exclusive AR Filters on Instagram and a life-sized pixel heart with a unique QR code. Scan the code to watch a 3D heart pop up on your mobile screen and match three boxes with the same symbol to win fantastic giveaways.
Super-exciting
On October 29th, CyberHub will also be hosting a Zumba Dance Party led by fitness queen Shwetambari Shetty as part of their Active Gurugram initiative.
CyberHub's 10th Year Anniversary promises to be an unforgettable celebration of shopping, dining, entertainment, and celebration. Don't miss out on this whirlwind of excitement!
10 October 2023, Mumbai
Fast fashion in India may be attributed to the entry of H&M in 2015. Within 2018, H&M had harnessed the appetite for online shopping in India by launching its own app and online store. In 2019, the Swedish brand started retailing through ever-growing e-commerce fashion and beauty giant Myntra and now Reliance Retail’s successful online store Ajio features in H&M India’s e-commerce channels.
H&M India, which operates 51 stores, posted revenue of Rs 2,115.9 crore in fiscal 2022, up 49 per cent from a year ago, while profits rose to Rs 25.3 crore, as per business intelligence platform Tofler.
Its outreach strategy is of course omni-channel growth and as it expands online footprint and extends brick and mortar presence.
In an interview with a popular business site, Yanira Ramirez, H&M India Country Sales Manager reinforced India is a high-growth and high-priority market and she supports the way forward with an omni-channel presence rather choosing an online or offline focus.
Ajio is not displacing Myntra in H&M’s mix
While the entry of Ajio might end Myntra’s exclusivity with H&M products, the Swedish brand will continue retailing on the Myntra platform thereby ending rumors that Myntra and H&M are parting ways.
As Ramirez says, H&M’s long-standing partnership with Myntra has been a super success, exceeding what the Swedish brand was expecting as Myntra power-rolled H&M throughout India and penetrated regions that H&M may not have thought possible through its own online and physical stores.
Exclusive partnerships with well-known fashion brands can significantly boost the appeal of a fashion ecommerce platform. It not only draws in a broader audience but also cultivates a perception of exclusivity and uniqueness.
Ramirez explained in trying to reach more customers, Reliance Retail’s reputation made H&M consider and consolidate Ajio as another online channel.
Earlier this year, it was reported that fast fashion brand Shein is planning to re-enter India in partnership with Reliance Retail.
Under this partnership, Reliance Retail would sell Shein products in offline stores operated by the retailer as well as through its ecommerce app AJIO. With the addition of H&M, Ajio stands to gain and become a greater rival for Myntra and Nykaa Fashion.
With H&M, Ajio ramps up portfolio of international brands
Ajio features over 5,500 brands that include a portfolio of exclusive international brands, own-labels, besides homegrown brands, including Puma, Superdry, Gap, USPA, Steve Madden, Levi’s, Marks & Spencer, Only, Armani Exchange and Nike.
The addition of one of the most successful global fast fashion brands is another great feather on Ajio’s hat. Ajio also stands to gain from Myntra’s work as it built up a robust customer base for H&M in India, particularly in the kids clothing segment.
H&M is also focused on their physical presence
By the end of this year, Ramirez says, H&M would have three additional stores in Patna, Ranchi and Mangalore whilst bolstering its presence in existing cities like Ahmedabad, Hyderabad and Bengaluru. The retailer plans to open six new stores in the country, taking take its store count to 57 by the end of this year.
As the Swedish fast fashion brand embraces an omni-channel strategy that includes e-commerce giants Myntra and Ajio and a continual growth of its physical presence including Tier II cities, H&M will continue maintaining its leadership of being the most preferred international fast fashion brand in India.
05 October 2023, Mumbai
Khadi for the Younger Generation
The Khadi and Village Industries Commission (KVIC) recently inaugurated a newly renovated Khadi India outlet on the IIT-Delhi campus in an effort to introduce Khadi to the YOUNG INDIA. It was unveiled on Oct, 2nd, 2023 Gandhi Jayanti, a day that holds special significance for promoting Khadi, as it celebrates Mahatma Gandhi's association with this indigenous fabric.
Vocal for Local
Manoj Kumar, Chairman of KVIC, officially launched the outlet at the IIT shopping complex. During the event, he emphasized that Prime Minister Narendra Modi had highlighted the importance of Khadi during his address at the G20 University Connect Finale held at Bharat Mandapam on September 26. The Prime Minister urged India's youth to embrace "Vocal for local" and make Khadi their preferred fashion choice. He encouraged them to support indigenous products and contribute to a self-reliant India.
Khadi Gramodyog Bhawan at IIT-Delhi
Chairman Kumar specifically addressed students, encouraging them to incorporate Khadi into their college attire.
The establishment of a Khadi Gramodyog Bhawan at the IIT-Delhi campus gets a spotlight by making youthful Khadi designs an easy & direct access to brilliant students at the institute of eminence.
CoEK's New Collection of Khadi Apparel
As part of this initiative, KVIC also unveiled a new collection of apparel designed by the Centre of Excellence for Khadi (CoEK) in tie-up with various Khadi institutions.
The Ministry of Micro, Small, and Medium Enterprises (MSME) committed support/help to KVIC in collaboration with the National Institute of Fashion Technology (NIFT). Their joint efforts aim to reach out to young audiences and tap into the global market.
The CoEK Network
The CoEK operates on a hub-and-spokes model, with Delhi serving as the hub and other cities like Bengaluru, Gandhinagar, Kolkata, and Shillong as spokes. This network facilitates research, design innovation, and skill development related to Khadi.
Khadi: A Sustainable and Eco-Friendly Choice
Khadi is renowned for its breathability, sustainability, and natural origin. It provides warmth in winter and comfort in summer. Due to its hand-spinning and hand-weaving processes, Khadi is both sustainable and energy-efficient.
Khadi gets a new narrative
The CoEK team has given direction to Khadi institutions in producing nine standardized styles of apparel for retail through the IIT outlet. This initiative marks the beginning of a new narrative in presenting Khadi as a fashionable and eco-friendly choice.
13 October 2023, Mumbai
Women’s western wear brand, Cover Story, has extended its footprint with the opening of a second exclusive outlet in Lucknow. Situated within the bustling Lulu Mall, this marks the 19th brick-and-mortar store in India for the fashion brand.
The move underscores Cover Story's commitment to staying in vogue with dynamic fashion trends, allowing customers to curate a wardrobe for every mood and occasion.
Details
Cover Story's spokesperson expressed their enthusiasm, emphasizing the brand's dedication to providing up-to-the-minute fashion while maintaining quality.
The new outlet is strategically positioned to cater to the style-savvy consumers of Lucknow, who seek the latest trends in women's casual and semi-formal wear.
Cover Story's diverse collection, including office-friendly ensembles and youthful separates, is on display at the Lucknow store.
This expansion is part of the brand's nationwide growth strategy, with established stores in cities like Mumbai, Hyderabad, and New Delhi.
As Cover Story continues to flourish, it remains a flagship venture of Reliance Retail Ventures Limited, fostering its unique fashion vision developed at a design studio in London, UK.
09 October 2023, Mumbai
Luxury women's fashion brand Payal Khandwala has unveiled its latest flagship store in New Delhi's sought-after shopping enclave, Dhan Mill. This new boutique seamlessly blends high-end fashion with an immersive art gallery-inspired atmosphere.
The store boasts a sophisticated aesthetic, combining rich, dark hues with carefully curated lighting and captivating sculptural installations.
Showcase
Garments are elegantly showcased within booth-like wooden compartments, while a chic minimalist seating area beckons shoppers to take a moment to contemplate their choices.
More than just a retail space, this flagship store provides New Delhi's fashion-forward patrons with a tangible connection to the brand's distinctive ethos.
With its understated luxury and inviting ambiance, it encourages visitors to pause, explore, and indulge in a unique shopping experience.
04 October 2023, Mumbai
CAMLA Barcelona, the esteemed fashion powerhouse renowned for its unique designs and top-tier quality, is poised to revolutionize the Indian fashion scene with a sweeping expansion strategy. The brand's bold move marks a pivotal moment in its journey, aiming to create a broader fashion horizon.
Set to go
CAMLA Barcelona is set to inaugurate 10 new exclusive retail outlets, strategically positioned to bolster accessibility and embrace a diverse customer base.
With an established presence in over 100 shop-in-shop retail spaces and the online platform glamly.com, the brand's expansion blueprint is meticulously crafted to introduce its exquisite collections to a wider audience of fashion aficionados.
Retail footprints
The expansion plan focuses on metropolitan areas, Tier 1 and Tier 2 cities in India, catering to the dynamic fashion preferences prevalent in urban settings. This strategic move deepens the connection between CAMLA Barcelona and its stakeholders, showcasing the brand's growing influence.
Akhil Jain, Executive Director of Jain Amar Group, expressed enthusiasm, affirming the commitment to delivering exceptional fashion experiences. The expansion is not just an extension of CAMLA Barcelona's footprint but a promise to weave a more diverse narrative within the ever-evolving fashion industry.
