27 July 2023, Mumbai

Shoppers Stop Ltd. unveiled its Q1FY24 financial results on July 24, 2022, showcasing a Profit Before Tax (PBT) of Rs. 19 Crores and a Profit After Tax (PAT) of Rs. 13 Crores. The company's success was bolstered by an 8% ATV growth, achieved by emphasizing premiumization in various categories.

CAPEX

Investing Rs. 43 crores in capital expenditure, Shoppers Stop added 1 HomeStop and 6 Beauty stores, along with renovating 3 Department and 1 HomeStop store.

The newly launched "Fashion For All" brand, "Intune," featuring 100% private brand products, further expanded with 3 new stores opened in Hyderabad and Dombivali (Mumbai).

Growth in ‘Beauty & Non-Apparel Categories’

The Beauty segment surged with a 13% YoY increase in sales, reaching Rs. 216 crores. Non-Apparel also witnessed a strong 13% growth, driven by the travel and luggage segment (+50%) and the watches segment (+9%).

Loyalty program

The First Citizen loyalty program played a significant role, contributing 80% to the total mix, with 67% of members being repeat customers. This, combined with premiumization strategies, resulted in an 8% increase in ATV and a 5% rise in Average Selling Price (ASP), marking 13 consecutive quarters of growth.

Resilience

Shoppers Stop, highlighted the company's resilient and competitive performance amid challenging market conditions.

With a strategic focus on personalization, premiumization, and private label offerings, Shoppers Stop continues to drive sustainable growth and cater to diverse customer segments.

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Amazon's annual Prime Day sale in India surpassed all expectations, setting new records for sales and product launches.

Witnesses unprecedented success

The 7th edition of Prime Day witnessed an astonishing lineup of more than 45,000 new products from 400 plus renowned Indian and global brands, including mobile phone brands and more. Local small and medium enterprises also showcased over 2,000 new products, showcasing the nation's diverse offerings.

Customer loyalty

Prime members showed their overwhelming support, driving a 14% increase in purchases compared to the previous year, with a staggering 22,190 orders per minute at peak hours.

A significant trend noticed during the event was the surge in orders from tier 2 and 3 regions, accounting for half of all purchases.

Quick commerce

The sale witnessed remarkable same-day deliveries, and one out of three orders in metros and half of the orders in tier 1 and 2 cities were delivered in less than two days.

29 July 2023, Mumbai

Shoppers Stop expands Intune to 10 stores, targeting India's lower-end apparel market. The move aims to compete with Trent's Zudio and Reliance Trends in this segment.

Target Tier-2 and Tier-3 consumers

The decision is driven by the significant market share in tier-2 and tier-3 cities, and the ongoing shift from unorganized to organized retail.

The Intune stores offer affordable products for women, children, and men, focusing on 100% private-label merchandise. Unlike the traditional Shoppers Stop model, Intune will only sell private labels, not third-party brands.

Optimism

Despite recent challenges in the apparel business, Shoppers Stop remains optimistic about a gradual recovery in demand, especially in the second half.

Non-apparel categories like beauty, luggage, and watches showed growth, but inflationary pressures impact the mass market segments.

Targets ‘Lower-End Apparel’

The strategic expansion aims to strengthen Shoppers Stop's presence in the lower-end apparel market, leveraging India's evolving retail landscape.

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26 July 2023, Mumbai

Reliance Retail is set to modernize approximately 150 Trends fashion stores nationwide, embracing cutting-edge technology and contemporary aesthetics, aimed at capturing the attention of younger clientele.

Unveils ‘Revamped Stores’

The revamp will encompass self-checkout counters, electronic shelf labels, and RFID-enabled systems, revolutionizing the shopping experience for customers. With a fresh brand identity, the revamped stores will exhibit a complete makeover from facades to fixtures, lighting, ceiling, and flooring, offering an aspirational ambiance to shoppers.

Evolving customers

The objective is to cater to evolving consumer demands and provide them with novel and distinctive shopping experiences. The first renovated store with the new identity has already opened in Surat, with numerous others scheduled to follow.

All forthcoming Trends stores will adopt this modern format, which may even incorporate dedicated spaces for local artisans to showcase the city's unique identity through their creative expressions.

Digitization

The company emphasized the integration of innovative tech interventions in the VIP Road, Surat store, including self-checkouts, electronic shelf labels, RFID enablement, and dual-sided cash tills. Global best practices in merchandising and product display have also been incorporated to enhance product discovery for customers.

Pivot

Trends constitute a significant portion of Reliance Retail's garment sales, operating over 4,000 fashion and apparel stores, featuring popular brands such as Trends, Centro, Azorte, and Fashion Factory. This new concept aims to retain the brand's wide appeal across diverse demographics while embracing warmth and inclusivity.

Premiumization

Moreover, Reliance Retail's recent quarterly results demonstrated a notable shift towards premiumization, as consumers are increasingly investing in apparel and footwear.

The fashion and lifestyle stores have witnessed increased footfall and average bill values, indicating a trend towards smart casuals and leisurewear that cater to both office and non-office settings.

Customer Delight

The re-imagination of Trends stores by an international innovation studio underscores Reliance Retail's commitment to staying ahead of consumer trends and delivering fresh and unique retail experiences across India.

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21 July 2023, Mumbai

Westside, a renowned part of the esteemed Indian family-TATA, has proudly inaugurated its 224th store in Hyderabad, Telangana, aiming to ignite the passion of fashion enthusiasts. Located at Road no.2, Banjara Hills, the store sprawls across an expansive 30,142 sq. feet area.

Inspiring fashion

The new outlet epitomizes the brand's vision of delivering an extraordinary retail experience, offering contemporary and modern fashion trends at an exceptional value, all conveniently housed under one roof.

Style statement

Embodying a commitment to making style effortlessly accessible for every moment, the store showcases Westside's diverse brands encompassing apparel, accessories, cosmetics, and footwear. The thoughtfully curated and clutter-free displays highlight the latest fashions, refreshed every three weeks on Fridays.

From chic and versatile Indian wear by Utsa to the creative fusion of Bombay Paisley, the coordinated elegance of Vark, the majesty of Zuba, the zestful party-glam of NUON, the subtlety of L.O.V, and the comfort for curvy women at Gia, the store caters to all fashion sensibilities.

Enthusiasts

For millennials, NUON MEN provides curated street-wear always trending, while E.T.A. offers relaxed urban wear with an ethnic edge.

Spectacular range

Studio West presents an exclusive range of beauty products for both men and Indian women, featuring luxurious bath & body products, fine fragrances, and more.

Moreover, Westside's kids' wear collection artfully blends fashion and functionality, presenting charming and trendy outfits for every occasion, cherishing the playful spirit of little ones.

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28 July 2023, Mumbai 

Real estate development giant, K Raheja Corp, is set to transform Vizag's retail scene with its ambitious project - a sprawling 6 lakh square foot InOrbit Mall in Andhra Pradesh.

The mall aims to become a vibrant hub for fashion and beauty brands, enhancing the city's shopping landscape.

Foundation Laying Ceremony with Chief Minister's Presence

Group has graciously invited Chief Minister Y S Jagan Mohan Reddy to visit the site and participate in the foundation laying ceremony, scheduled for August 1 at Kailasapuram.

Full Operation within three years

As per the Andhra Pradesh state government's press release, the mall is projected to be fully operational within three years, promising an exciting addition to the city's retail offerings.

Diversified Investments in the State

Apart from this grand venture, K Raheja Corp is actively exploring other investment opportunities in Andhra Pradesh, demonstrating its commitment to the state's development.

K Raheja Corp's Established legacy

InOrbit Malls in Mumbai and Vadodara, K Raheja Corp, the parent company of Shoppers Stop and InOrbit Mall chain, has a proven track record of offering a delightful mix of Indian and international brands, including Puma, W, Levi’s, Just In Time, Mufti, Go Colors, and many more.

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25 July 2023, Mumbai

Pacific Group, a renowned real estate company, has exciting news for shopaholics and entertainment enthusiasts!

Unveiling

The much-anticipated 'The Mall of Faridabad' is set to open soon, spanning an impressive 3.8 Lakh sq. ft. in the heart of NIT Faridabad. With a commitment to creating iconic destinations, Pacific Group is committed to providing promisingly an unforgettable experience.

Bunch of brands

Discover an impressive lineup of premium retail brands, including Nykaa, Uniqlo, Lifestyle International, Trends, McDonald’s, Deerika, and Fashion Hub. Besides shopping, the mall will host top-notch fine-dining restaurants, state-of-the-art cinemas, and a family entertainment center.

Expanding footprintAs part of Pacific Malls' expansion, this grand project marks the first of three planned launches in 2023.

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19 July 2023, Mumbai

Deal in the making

Reliance Brands Ltd, a subsidiary of Reliance Retail Ventures, is reportedly in advanced discussions to acquire actress Alia Bhatt's children's wear brand, Ed-a-Mamma, for an estimated ₹300-350 crore. Acquisition to bolster the portfolio.

The deal, expected to be finalized within the next seven to 10 days, aims to strengthen Reliance's presence in the lucrative kidswear market. Ed-a-Mamma, valued at over ₹150 crores, has gained popularity primarily through its online sales channels and follows an environmentally conscious approach to clothing.

About Brand

It was initially launched in 2020 and later expanded into teenage and maternity wear segments, is available on prominent e-commerce platforms like Myntra, Ajio, and Amazon, as well as through its own website and select retail chains including Lifestyle and Shoppers Stop.

Juggernaut rolls

With partnerships ranging from luxury to high-street lifestyle brands like Armani Exchange, Burberry, and Jimmy Choo, Reliance Brands continues to establish itself as a key player in the retail industry.

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28 July 2023, Mumbai 

Unveils 'The Mall of Faridabad':

Pacific Group, excitedly announced the forthcoming masterpiece, 'The Mall of Faridabad,' continuing the tradition of creating iconic destinations.

The group's vision is to elevate shopping and entertainment to unparalleled heights, promising a world-class experience.

A diverse shopping haven

Spanning 3.8 lakh square feet, the mall will house an array of Indian and international brands, such as Nykaa, Lifestyle International, Uniqlo, Trends, Fashion Hub, and Deerika.

Visitors can relish a delightful food court and diverse entertainment facilities.

Expanding horizons

Adding to their impressive portfolio of six malls across North India, including Dehradun and Sahidabad, this expansion solidifies Pacific Group's presence.

Anticipated as one of India's most sought-after retail destinations, the grand opening is set to redefine world-class shopping and entertainment.

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24 July 2023, Mumbai

Uniqlo, the renowned Japanese clothing retailer, is set to strengthen its presence in India by opening its inaugural store in Mumbai in October as part of its nationwide sales network expansion.

Reaffirms commitment to India

Uniqlo India, expressed enthusiasm about the fall launch in Mumbai, marking a significant milestone in their four-year Indian journey.

The new store, strategically situated at Kurla's Phoenix Marketcity, will offer a wide array of LifeWear products for men, women, children, and babies - embodying simple, high-quality daily wear designed to meet life's demands.

Retail footprint

Uniqlo's expansion into Mumbai reflects its growing footprint in India since its 2019 debut, with a focus on cities like Chandigarh, Lucknow, and Delhi-NCR.

Omnification

The retailer also introduced online commerce during the pandemic and unveiled its first highway shop earlier this year in Zirakpur, Punjab. With over 2,400 stores worldwide, Uniqlo continues to captivate customers with exclusive LifeWear offerings on its e-store.

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18 July 2023, Mumbai

Department store chain Shoppers Stop's fashion format store, Intune, has announced the opening of its latest outlet in Mumbai.

Intune expands footprint

The company made the exciting announcement through its official social media channels. Situated at Lodha Xperia Mall, Kalyan - Shilphata Rd Palava, Dombivli, Maharashtra, the new store joins Intune's growing portfolio.

Quick background

Intune initially launched its first store in Hyderabad on June 2, 2023, which garnered significant attention. Shoppers Stop Ltd., established in 1991, is renowned for its collection of fashion and beauty brands.

Broad-based

With an extensive presence across 98 department stores in 52 cities, the company also operates premium home concept stores, specialty beauty stores, and multiple airport locations, totaling an impressive 3.9 million square feet.

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