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Retail 22-04-25

Forever New unveils new sustainability campaign

25 April 2022, Mumbai:

On the occasion of Earth Day, Forever New unveiled a new campaign showcasing its progress on its sustainability goals.

The retailer unveiled its sustainability vision last year, driven by five key pillars: Responsible Fibres, Environment, Ethical Supply, Community, and Diversity and Inclusion.

ALSO READ EARTHDAY.ORG has launched a fashion for the planet campaign with the goal of changing the fashion industry's direction

As per the vision, by 2022-end, Forever New plans to make 80 percent of its garments with responsible fibers in a sustainable manner.

The company also plans to ban the use of faur leather in its collection.

RELEVANT NEWS Shivani Goel joins Forever New as VP-Marketing

It plans to make 50 percent of its polyester garments from recycled materials and cotton garments from 100 percent sustainable fibers.

Forever New MD Carolyn Mackenzie said the business is excited to make positive changes.

The brand is committed to becoming a champion of change in the industry, inspiring conscious shopping choices, he adds.

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Retail 22-04-25

Forever New unveils new sustainability campaign

American Eagle to open multiple stores across India

25 April 2022, Mumbai:

American Eagle plans to open 50 stores across India over the next two years with its franchisee partners.

The brand recently launched its first franchise store in Jaipur in partnership with Arihant Agencies.

ALSO READ American Eagle, India soars Hi with 1st Franchisee Store

Spread across 1,700 sq ft. the store has two floors and houses the latest collections from the brand. AshishMukul, Brand Head, American Eagle India says, with stores across NCR, Hyderabad, Pune, Chandigarh, Chennai, Mumbai, Bangalore, Kolkata, and now Jaipur, the brand has covered most of the top cities in the country.

RELEVANT NEWS 'American Eagle Outifitters' launches first brand store in Kolkata

Tarun Sharma, Owner, of Arihant Agencies adds, Being America’s favorite jeans brand, American Eagle has immense scope for growing and taking the brand across new cities in India.

American Eagle retails in India through Aditya Birla Fashion and Retail Limited, which owns the rights for the brand in the Indian market.

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Retail 22-04-25

American Eagle to open multiple stores across India

Shivani Goel joins Forever New as VP-Marketing

20 April 2022, Mumbai:

Shivani Goel, Head-Marketing Communications and International Expansion, Colorbar, has been appointed the new Vice President-Marketing by Melbourne-based premium fashion brand, Forever New effective from April 2022.

Goel will lead the brands’ communications across all channels, strategy, retail marketing, and public relations.

ALSO READ Forever New launches new Autumn/ Winter range

She will focus on achieving excellence in CRM, e-commerce operations, influencer management, digital marketing, and brand ambassador program.

With over 18 years of experience in brand management, communication, and PR, Goel has led many brand campaigns.

She has also designed, and implemented curated concepts for brand launches, led the influencer marketing program, and partnered for brand expansion in international markets.

She also led marketing activities for Major Brands India-group brands such as Mango, Aldo, La Senza, Nine West, Koovs.com, etc.

Along with Forever New, she aims to set a new benchmark in the fashion industry.

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Retail 22-04-20

Shivani Goel joins Forever New as VP-Marketing

RAI : Retail clock decent sales growth in March

13 April 2022, Mumbai:

All-time low infection rates, withdrawal of sanctions, and improvement in consumer mobility helped boost retailers’ sales to the highest levels of 28 percent in March, indicates a pan-India study by the Retailers Association of India.

The study revealed, that the West region grew the fastest at 37 percent last month compared to a year back; followed by the North at 28 percent, East at 26 percent, and South at 21 percent.

ALSO READ January retail sales restricted to 91 per cent of pre-pandemic levels: RAI

Kumar Rajagopalan, the CEO, of RAI, says, the removal of pandemic-related restrictions gave a boost to the growth of retail businesses across regions and categories including garments and footwear.

However, inbuilt inflation in products like garments, electronics, and FMCG products impacted the performance of the sector.

The report shows that the consumer durables, and electronics segment grew 45 percent in March over last year, while categories like furniture, furnishing, food, and grocery grew by 28 percent. Sports goods and apparel categories grew 26 percent each.

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Retail 22-04-13

RAI : Retail clock decent sales growth in March

Ikea India appoints Adosh Sharma as Country Expansion Manager

22 April 2022, Mumbai:

Swedish home furnishings retailer Ikea has appointed Adosh Sharma new Country Expansion Manager. Sharma will lead Ikea India’s expansion and growth plans.

He will take over the responsibilities from Per Hornell and report to Susanne Pulverer, CEO, Ikea India.

ALSO READ IKEA looks forward to National Retail Policy (NRP) rollout

A seasoned professional with over 20 years of experience in retail, Sharma has worked across India, the Middle East, and North Africa markets.

His last assignment was with Al Futtaim where he worked with brands such as John Lewis, Marks and Spencer, and Eggo as General Manager.

He says Ikea has been able to build a strong foundation in India through its omnichannel presence and looks forward to providing customers with accessible, affordable, and sustainable home furnishing solutions.

IKEA India has been operating in India for 30 years as a part of the INGKA Group, sourcing many different products for IKEA stores worldwide.

It sources products for approximately € 315 million every year, with the aim of doubling it in the next few years.

The company works with 48 suppliers in India, engaging over 45,000 direct co-workers and approximately 400,000 coworkers in its extended supply chain.

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Retail 22-04-22

Ikea India appoints Adosh Sharma as Country Expansion Manager

H&M launches new linen collection

15 April 2022, Mumbai:

Leading apparel brand H&M has launched a new collection of linen long sleeve shirts, linen tees, relaxed-fit resort shirts, along with pull-on trousers and shorts both in relaxed fits.

The silhouettes and colors give the collection a fresh and light feel through neutral shades along with playful prints.

ALSO READ Despite persistent retail limitations, H&M returns to pre-pandemic sales level

Its garments are designed in soothing neutral and pastel tones making the collection a perfect addition to a summer wardrobe.

The collection features classic menswear pieces, relaxed tailoring, and more sustainable materials that combine to create a modern range of everyday wear, says Amit Kothari, Regional Marketing & Communications Manager – South Asia.

The collection launched with a campaign, starring musician and artist Armaan Malik, embodying the message of freedom to be your own self.

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Retail 22-04-15

Uniqlo to launch new collection with Square Enix

13 April 2022, Mumbai:

Japanese casualwear fashion brand Uniqlo plans to launch a new collection ‘Final Fantasy’ in collaboration with Square Enix. The collection features T-shirts in sixteen designs-one for each entry in the Final Fantasy series.

It will be exported to other countries where Uniqlo operates stores.

ALSO READ 'Uniqlo India' sales jump

Uniqlo produces an amazing number of unique products as its business model unifies the entire clothes-making process--from planning and design through production, distribution, and retail. The brand develops radical new materials together with the world's best fabric technology innovators and creates basic designs using superior natural materials.

Uniqlo LifeWear is high-quality, innovative clothing that is universal in design and comfort.

The brand leverages today's increasingly digital world to communicate directly with customers and quickly transform their desires into actual products.

RELATED NEWS Uniqlo India reduces their losses

Uniqlo Japan had 810 stores including 30 franchise stores as of the end of August 2021.

Uniqlo International expanded to 1,502 stores, including 932 stores in the Greater China region, 134 in South Korea, 270 in South Asia, Southeast Asia & Oceania, 109 in Europe, and 57 in North America.

The brand has been accelerating new store openings, primarily in the Greater China region and Southeast Asia.

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Retail 22-04-13

Uniqlo to launch new collection with Square Enix

Bhumika Group to launch ‘Lifestyle’ store in Udaipur

21 April 2022, Mumbai:

Real estate developer Bhumika Group plans to launch a new store in collaboration with fashion retailer Lifestyle spanning 22.000 sq. ft. in Udaipur inside the ‘Urban Square Mall.

ALSO READ As retail limitations reappear, retailers are resuming rent negotiations with malls

A part of the Dubai-based retail and hospitality conglomerate, the Landmark Group, Lifestyle is a one-stop shopping destination for Indian men, women, and children for apparel, footwear, handbags, fashion accessories, and beauty products.

The store offers shoppers an enhanced shopping experience through its assortment of national and international brands.

Launched in a joint venture with Trehan Developers, Alwar, the Urban Square Galleria Mall by the Bhumika Group is spread over 1 lakh sq ft.

It comprises retail shops, a food court, restaurants, multiplex, and an entertainment zone.

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Retail 22-04-21

Bhumika Group to launch ‘Lifestyle’ store in Udaipur

Flipkart’s Singapore arm invests in Myntra

14 April 2022, Mumbai:

The Singapore arm of e-commerce company Flipkart has invested $116 million in fashion retailer Myntra.

This increases Flipkart’s investment in its various businesses in March to over $800 million.

In March, Flipkart invested $553 million in its marketplace business and another $143 million in the new healthcare business. The e-commerce company also launched a separate app for healthcare businesses, called Flipkart Health+.

ALSO READ Flipkart is a firm believer in real-time transactions

The new investment would help Myntra focus on building live commerce and beauty categories in the future, says Nandita Sinha, CEO.

The company’s live commerce feature aims to target Gen Z shoppers.

The company also launched Style Squad on February 22 to attract more influencers onto the platform and help them launch and promote new brands.

Kalyan Krishnamurthy, the CEO, of Flipkart, says, Myntra will continue to operate with its strategy under the new management.

It will continue to target growing customer segments.

Walmart-owned online retailer Flipkart witnessed several changes in its management in recent months.

Amar Nagaram, the Former CEO, quit to start his own ventures along with Ramesh Bafna, CFO, and Harish Narayanan, CMO.

The e-commerce firm acquired Myntra in March 2014 for Rs 2,000 crore.

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Retail 22-04-15

Flipkart’s Singapore arm invests in Myntra

Shoppers stop sells stake in Crossword

12 April 2022, Mumbai:

Shoppers Stop sold a 19.50 percent stake in Crossword on Friday, April 08, 2022, reducing its stake in the company to 29.50 percent On August 31, 2021, the board approved the sale of 100 percent equity shares held by Shoppers Stop in Crossword Bookstores (Crossword) to Dinesh Gupta, Aakash Gupta & Family (owners of Agarwal Business House) (ASH), Pune.

On October 11, 2021, Shoppers Stop sold a 51 percent stake of the company in Crossword that ceased to be a subsidiary of the company.

ALSO READ Shoppers Stop to open new department stores

In continuation to the same, Shoppers Stop plans to sell its entire 100 percent equity shares held in Crossword.

In Q3 FY21, Shoppers Stop reported a consolidated net profit of Rs 77.32 crore against a net loss of Rs 25.11 crore in Q3 December 2020. On a consolidated basis, net sales rose by 33.82 percent to Rs 958.11 crore over Q3 December 2020.

Shoppers Stop is an Indian department store chain, owned by the K Raheja Corp.

There are 86 stores across 40 cities in India, with clothing, accessories, handbags, shoes, jewellery, fragrances, cosmetics, health and beauty products, home furnishing, and decor products.

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Retail 22-04-12

Retailers optimistic as apparel sales clock growth in March

21 April 2022, Mumbai:

The resurgence of retail sales to 12 percent in March 2022, compared to the pre-pandemic level of March 2019, has made Arvind Fashions and Metro Brands more confident about growth prospects.

Retail sales in India grew 28 percent over the same month last year, as the government lifted pandemic-related restrictions.

ALSO READ January retail sales restricted to 91 per cent of pre-pandemic levels: RAI

Kulin Lalbhai, Executive Director, Arvind Fashions adds, that marriages in the quarter along with the return to normalcy drove retail sales growth in March.

Nissan Joseph, the CEO, of Metro Brands, adds that the apparel category, which experienced a 10 percent price rise is expected to experience another hike later this year.

There could be another price hike during the autumn-winter season, adds Lalbhai.

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CREDITS: Retailers Association of India (RAI) report.

Retail 22-04-21

Retailers optimistic as apparel sales clock growth in March

Retailers’ revenues grow double digits during March quarter

14 April 2022, Mumbai:

Revenues of listed retailers across apparel, lifestyle products, restaurants, and supermarkets grew by double digits year-on-year during the March quarter despite the Omicron outbreak as the reopening of offices and schools, and weddings drove demand.

Most retailers expect sales to pick up in the new fiscal with the onset of the wedding season and the reopening of schools and offices, says Venu Nair, Managing Director, Shoppers Stop.

Consumption of beauty and kid’s clothes is expected to rebound, posing a rosy outlook for the next six months, he adds.

Supported by new store openings, apparel brands and retail companies such as Trent, Aditya Birla Fashion and Retail, V-Mart, Shoppers Stop, and TCNS Clothing Company are expected to register over 20 percent Y-o-Y revenue growth in the March quarter, as per ICICI securities.

The third COVID-19 wave in December and consequent restrictions in malls, multiplexes, and restaurants restricted revenue recovery to 60 percent of pre-COVID levels in January’22, says the ICICI Securities report.

February revenues improved to 80-85 percent of pre-COVID levels while they surged higher in March, the report added.

The watches business of Titan grew by 12 percent during the March quarter while its jewelry business declined by 4 percent as gold prices increased sharply and continued to remain volatile.

The Tata-owned retailer hopes for robust demand for its products in the first quarter of 2022-23.

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Retail 22-04-14

Retailers’ revenues grow double digits during March quarter

CBRE: New store openings to increase 25% in 2022:

12 April 2022, Mumbai:

Real estate investment firm CBRE says, new store openings will increase by 25 per cent in 2022, compared to last year. Leasing across high streets and malls in India will also soar past the pre-COVID levels this year, adds the firm in its report 'Real Estate Market Outlook 2022’.

Further it adds retailers will lease over 5.1 million sq ft of space in 2022, coming close to the previous two years' combined figure of 5.9 million sq ft.

Devarajan Iyer, CEO, of Lifestyle International, says, their store count will increase in double-digits this year. A bulk of the company’s expansion will be on smaller towns.

A sharp drop in COVID-19 cases has accelerated the pace of economic recovery in the country and encouraged retailers to roll out store expansion plans. The robust economic recovery has strengthened consumer and market sentiments, causing retail growth to return to pre-COVID levels, adds Shibu Philips, Business Head, Lulu Mall.

Most companies were able to surpass pre-COVID level sales in March on account of strong demand driven by the opening of offices, and schools and increased demand due to the wedding season. Driven by a strong recovery in demand despite the third wave of the pandemic, revenues of brick and-mortar apparel retailers are expected to grow 20-25 per cent this fiscal, says CRISIL on analyzing 35 apparel retailers.

The industry will also see an increase in retail rentals as leasing inches back to pre-pandemic levels, adds Abhishek Trehan, Executive Director, Trehan Iris.

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Retail 22-04-12