12th August 2021, Mumbai:

Bata India’s Q1FY22 revenues is expected to grow 92.5 per cent at Rs 260 crore as against Rs 135.1 crore for the same period last fiscal though the brand’s revenues are likely to decline quarter on quarter. The company’s EBITDA during Q1 FY22 is likely to decline to Rs 45 crore year-on-year against Rs 85.8 crorer. Its net loss is expected to widen to Rs 80 crore against a loss of Rs 108 crore YoY.

Management commentary on demand will be the key focus and street would also focus on store opening and opening up of cities from June 2021. Bata India recently appointed Gunjan Shah, Chief Commercial Officer as its new CEO and Vidhya Srinivasan, Executive Director, Puma India as its new CFO. The company was incorporated as Bata Shoe Company in 1931, In January 1934, the foundation stone for the first building of Bata’s operation - now called the Bata was laid. In the years that followed, the overall site was doubled in area. This township is popularly known as Batanagar. It was also the first manufacturing facility in the Indian shoe industry to receive the ISO: 9001 certification.

TOP 5:

• Supreme Court directs Amazon India & Flipkart to face antitrust investigations
• ‘V-Mart Retail’ reports 49% decline in Q1 FY22 revenues
• Myntra 'Right to Fashion Sale' on Independence Day
• Bata India Q1FY22 revenues to grow 92.5%
• Government taking measures to address concerns of small traders: Piyush Goyal

12th August 2021, Mumbai:

Footwear brand Neeman's has launched India’s first footwear range made from 100 per cent recycled PET bottles. Known as 'ReLive Knits', the range is available in two styles -- Sneakers and Slip On. It is lightweight, flexible, breathable, sustainable and one of the most comfortable footwear crafted for all-day wear. Modishly designed, the shoe also uses other materials such as bamboo insoles, castor bean oil, natural and recycled rubber making the premium looking ReLive Knits the epitome of comfort and style.

The unisex ReLive Knits Sneakers and Slip On are available in seven and five colors respectively, employing a vibrant colour palette that truly offers something for everyone. The collection will be available on Neeman’s official website- www.neemans.com, as well as leading e-commerce platforms in the country.

TOP 5:

• Supreme Court directs Amazon India & Flipkart to face antitrust investigations
• ‘V-Mart Retail’ reports 49% decline in Q1 FY22 revenues
• Myntra 'Right to Fashion Sale' on Independence Day
• Bata India Q1FY22 revenues to grow 92.5%
• Government taking measures to address concerns of small traders: Piyush Goyal

The Supreme Court’s latest verdict upholding Singapore’s Emergency Arbitrator’s (EA) decision has proved to be a huge setback for debt-laden Future Group. Lockdowns have caused huge losses to Future Retail’s operations as most its large popular retail chains such as Big Bazaar, Nilgiris, Fashion at Big Bazaar remained shut.

The Supreme Court’s decision further impedes the group’s plan to sell its retail, wholesale and other assets to Reliance Industries for Rs 24,713 crore.

The acquisition would have given Reliance an edge in India’s retail market that is set to touch $1 trillion in 2025. The deal would have also helped Reliance expand its clout in the grocery and fashion retail market, where it has already built a sizable business.

In August 2020, RIL Reliance Retail Ventures, a unit of Reliance Industries (RIL) announced plans to acquire the retail and wholesale business and the logistics and warehousing business from the Future Group as going concerns on a slump sale basis.

Meanwhile, in a petition, Amazon argued the deal violated its investment agreement with Future Group that barred the company from selling its retail assets to Mukesh Ambani’s conglomerate, among other specified entities without Amazon’s consent.

12th August 2021, Mumbai:

Piyush Goyal, Union Commerce Minister, has assured the government is taking measures to address concerns regarding the impact of big e-commerce players on small offline traders.

The minister made this statement a day after the Supreme Court declined to entertain a plea by e-commerce giants Amazon and Flipkart, saying they must face an inquiry by Competition Commission of India (CCI) for anti-competitive practices.

A bench headed by Chief Justice NV Ramana and comprising Justices Vineet Saran and Surya Kant declined to interfere with the orders of the Karnataka High Court, which refused to interfere with the preliminary enquiry ordered by the CCI into their alleged anti-competitive practices.

The e-commerce companies had moved the apex court challenging the Karnataka High Court's July 23 order. Amazon had moved the High Court against a CCI order which had called for a Director General level investigation into allegations of anti-competitive conduct in the online sale of smartphones on its platform.

The Delhi Vyapar Mahasangh (DVM), the informant before the CCI, had alleged predatory pricing, deep discounting, preferential seller listing, and exclusive partnerships, among others, against Amazon and Flipkart.

TOP 5:

• Supreme Court directs Amazon India & Flipkart to face antitrust investigations
• ‘V-Mart Retail’ reports 49% decline in Q1 FY22 revenues
• Myntra 'Right to Fashion Sale' on Independence Day
• Bata India Q1FY22 revenues to grow 92.5%
• Government taking measures to address concerns of small traders: Piyush Goyal

12th August 2021, Mumbai:

Dollar Industries’ profit in Q1 FY2021-22 increased by 16.49 per cent to Rs 22.54 crore.

The company’s total income declined by 33.81 per cent to Rs.205.49 crores during the period ended June 30, 2021 as compared to Rs.310.44 crore during the period ended March 31, 2021.

The company’s EPS increased by Rs.3.97 for the period ended June 30, 2021 as compared to Rs.3.41 for the period ended March 31, 2021.

Dollar Industries’ net profit for Q1 FY2021-22increased by 39.31 per cent to Rs.22.54 crores as against net profit / (loss) of Rs.16.18 crores for Q1 FY2020-21 ended June 30, 2020.

The company’s net income grew by 28.74 per cent to Rs.205.49 crore during the period ended June 30, 2021 as compared to Rs.159.62 crore during the period ended June 30, 2020.

The company reported EPS of Rs.3.97 for the period ended June 30, 2021 as compared to Rs.2.85 for the period ended June 30, 2020.

 https://www.linkedin.com/feed/update/urn:li:activity:6831590073100746752

TOP 5:

• Supreme Court directs Amazon India & Flipkart to face antitrust investigations
• ‘V-Mart Retail’ reports 49% decline in Q1 FY22 revenues
• Myntra 'Right to Fashion Sale' on Independence Day
• Bata India Q1FY22 revenues to grow 92.5%
• Government taking measures to address concerns of small traders: Piyush Goyal

Four Aces Fashion House, the licensee of Being Human Clothing label, has appointed Sanjeev Rao as its new CEO.

As per ANI News, Rao has over 27 years of management experience leading strategic growth in the retail arena. He joined the clothing company on August 02, 2021.

An alumnus of the Wharton Business School UPENN, Rao has handled core teams of large retail units as a cross-functional expert. Moreover, he has worked at leadership levels with retail giants like Raymond, Landmark group, Aditya Birla Retail and Jubilant Retail across strategy, operations and P&L management. His vast experience in retail, specifically in the garment industry, will help him lead Being Human Clothing to expand to more markets and countries, says Alvira Agnihotri, Managing Director, Being Human Clothing.

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12th August 2021, Mumbai:

Revenues of one of India's leading chains of fashion retail stores, Trent grew by 98 per cent to Rs 492 crore during Q1 FY22 ended on June 30, 2021, compared to Rs 248 crore in the same period of prior fiscal. However, the company incurred a net loss of Rs 138 crore during the quarter. The company’s total expenses during the quarter stood at Rs 675 crore while profit before tax recorded a loss of Rs 164 crore.

Trent continues to focus on expansion program and is rapidly advancing in building a strong pipeline, even as the constraints for actual opening to customers remains a challenge in the near term in the case of mall locations/ select markets, says Noel Tata, Chairman.

Started in 1998, Trent operates Westside, one of the many growing retail chains in India based in Mumbai, and Landmark, a bookstore chain with brick and mortar stores in various locations of India.

TOP 5:

• Supreme Court directs Amazon India & Flipkart to face antitrust investigations
• ‘V-Mart Retail’ reports 49% decline in Q1 FY22 revenues
• Myntra 'Right to Fashion Sale' on Independence Day
• Bata India Q1FY22 revenues to grow 92.5%
• Government taking measures to address concerns of small traders: Piyush Goyal

Sabyasachi Mukherjee has launched new collection called ‘Wanderlust’ in collaboration with H&M’. The collection will go live on August 12, across 11 H&M stores in India and in select stores in 17 other countries, including the US, Britain and Japan. It will also e-tail on Myntra and 48 international markets on hm.com.

The Sabyasachi x H&M comprises 22 womenswear styles, 13 menswear and 32 accessories. The viscose georgette sari, with a print inspired by his hometown Kolkata, is available in H&M’s India stores only.

The line has references to all his couture trademarks, such as the royal Bengal tiger. Wanderlust, with its clashing prints, breezy kaftans, and cool co-ords. It was conceived to be gender and size agnostic. The fits are all easy, and the separates can be mixed and matched. The range also includes fashion jewellery bags and belts.

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Kumar Rajagopalan, CEO, Retailers Association of India (RAI) has expressed serious disappointment over malls not being allowed to operate in Maharashtra despite the best COVID-19 protocol in place.

The state recently permitted those associated with most retail establishments except those located in malls and shopping centres to resume activity. However, it continued to keep malls shut.

Malls in the state generate a business of Rs. 40,000 crores and contribute Rs. 4,000 crores in GST, per month, said Rajagopalan. The prolonged closures are impacting more than 2 lakh people employed in about 50 malls in the state.

They are also impacting all the businesses associated with malls—on average, a mall has 200 retail stores operating in it and over 5,000 business entities associated with it as suppliers and vendors, he added.

Rajagopalan urged the government to permit malls to operate as he believes it will pave the way for citizens to shop in a safe and sanitized environment but will also save jobs of lakhs of livelihoods the mall ecosystem supports.