29 November 2024, Mumbai

Socks brand Bonjour plans to increase its revenues to Rs 175 crore in FY25 from Rs 143 crore in in FY24.

Besides, the company also aims increase its share in the mid-premium revenue segment within the socks market to 30 per cent from the current 22 per cent in the next two years.

Over the next two to three years, the brand also plans to double its production capacities to meet escalating demand. It currently has 17,000 retail touch points across India, the US, the Gulf and Europe and has been sustainably producing 95 per cent of its raw materials in-house.

Founded in 1988, Bonjour initially started manufacturing socks in a rented factory in Delh. The company launched its first EBO in 2008 and currently operates 16 EBOs, across Delhi-NCR, Dehradun, and Ambala. It also has over 180 distributors pan India.

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28 November 2024, Mumbai

Online-first fashion brand, Newme plans to increase its store count to 70 by the Dec ’26. Of this, 45 stores will be opened by Dec’25 and 20 stores by FY24-end. The brand plans to open two stores within the next 30 days across Gurugram and Pune. The brand currently has eleven stores across nine cities.

According to Sumit Jasoria, Co-founder, Newme, the brand’s store sizes range from 2,500 sq. ft. to 3,500 sq. ft. The capex varies depending on the store, with flagship stores having a higher cost. The cost typically ranges from Rs 80 lakh to Rs 1.2 crore per store.

While most of the brand’s stores are currently in malls, its first store in Surat is located on a high street. The brand is currently expanding into both Tier I and II cities.

Besides offline expansion, Newme also plans to focus on strengthening its supply chain in India by setting up its own factories in the country. It also aims to expand its technology and data science teams to drive innovation within the company.

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27 November 2024, Mumbai

Expanding its retail presence in Andhra Pradesh, Reliance Retail-owned brand Azorte has launched its first brick-and-mortar location in Tirupati. Located at the city’s Tata Nagar on Tuda Office Road, the store retails a wide selection of youthful ready to wear and accessories.

Catering to men and women, the store is spread across two storeys and has a large double façade rendered in glass. It aims to connect in-person experiences with technology and houses smart changing rooms to elevate the shopping experience, as per a Fashion Business report. The store also has mobile scan and go features and self check out kiosks in line with many of its other locations.

Shoppers can browse a wide range of Azorte’s private label brands such as its women’s western and fusion wear label Svrnaa, which debuted its colorful range of separates in the store. Azorte also highlights its commitment to sustainability and use of eco-friendly materials in its stores.

This year, Azorte has opened a wide range of stores across the country in cities including Amritsar, Ranchi, Mangaluru, Bengaluru, Guwahati, Surat, Vadodara, and Jamnagar, etc. The brand was launched by Reliance Retail in Sep’22.

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29 November 2024, Mumbai

Expanding the brand’s presence in Bengaluru, globally recognised luxury brand, Beverly Hills Polo Club has launched its fourth store in the city at M5 Ecity Mall. The launch also marks the brand’s 27th store in India.

Personifying a lifestyle of relaxed elegance and affluence, Beverly Hills Polo Club was founded in 1982 in Southern California. The brand is symbolised by its iconic horse-and-rider logo reflecting the sport of polo, representing individual strength and luxury.

Known for blending timeless sophistication with modern styles, Beverly Hills Polo Club has become a symbol of impeccable art and quality. The brand’s new store in Bengaluru offers premium products including apparel, footwear, fragrances, handbags and wallets for men, women and children. The brand continues to elevate its customers’ shopping experience through its new store while also meeting the preferences of India’s growing luxury market.

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28 November 2024, Mumbai

Bringing its total store count in the country to 65, Swedish fashion brand Hennes & Mauritz (H&M) has opened two new outlets in India.

The brand made in debut in Surat with a store at the International Wealth Centre while it launched its second store at the Mall of Dehradun, Mohkampur in Dehradun.

The Surat store spans over 14,542 sq ft, while the Dehradun store is spread across 13,476 sq ft of retail space. Both these stores will help the brand enhance its relevance in the Indian market and forge closer ties with the customers, says Helena Kuylenstierna, Director, H&M India.

Along with this expansion, the brand remains committed to making fashion accessible to all, she adds.

Having forayed into the Indian market in Oct’15, H&M launched its official website in 2018. Currently, the company operates in over 30 cities in the country. It also offers an online shopping experience through its website, app and also through fashion e-commerce platforms Myntra and AJIO.

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27 November 2024, Mumbai

Lyskraft’s premium women’s fashion brand Coyu has made its offline debut with the inauguration of its first brick-and-mortar store in New Delhi. Located in the metro’s Ambience Mall in Vasant Kunj, the store retails a several Indian and international apparel labels.

Offering clothing options for occasions ranging from the office to parties, the label offers 90 minute deliveries in select NCR locations. It also offers live video calls and stylists recommendations to customers. It plans to expand with an omni-channel strategy and offer interactive online services.

Mohit Gupta, Co-Founder and CEO, Coyu says, there is a clear gap between the customers’ expectations and delivery of premium women’s fashion in India. Coyu aims to transform this with its wide selection of Indian D2C brands and renowned international brands while blending exclusive designs, premium quality, and innovative service experience. The brand is supported by investors including Prosus Ventures, Peak XV, and Sofina. Its name means ‘curated for you’ and ‘in collaboration with you’ and was co-founded by entrepreneurs Mohit Gupta and Mukesh Bansal.

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29 November 2024, Mumbai

Women’s ethnic wear brand Meena Bazaar plans to explore and integrate artificial intelligence (AI) into its retail operations for growth in partnership with AI powered intelligence business Sociometrik and real estate business Agrprop.

According to Shivek Aggarwal, Founder, Agprop, focusing on AI-driven retail expansion, the collaboration combines decades of legacy with cutting-edge technology and data science for expansion. The partnership proves to be a blueprint for the next era of retail growth with its smarter store locations and enhanced customer insights.

The partnership uses heat maps across cities to give Meena Bazaar the tools to accomplish data-driven site selection and offer socioeconomic and demographic insights. This data will identify the most promising retail clusters and forecast revenue totals by using machine learning, as per a report by India Retailing.

Meena Bazaar was launched by Suresh and Vishnu Manglani in 1970 to offer a range of ready to wear in traditional styles. The brand today boasts of 70 brick-and-mortar stores in India and the US. Aiming to expand to new customer demographics, Meena Bazaar aims to establish over 250 EBOs by 2025, according to the brand’s website.

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28 November 2024, Mumbai

At a fashion show organised in collaboration with T&T Motors at DLF Emporio in New Delhi, fashion designer Ravi Bajaj launched his new luxury wedding wear label titled, ‘Aurum.’

The label launched with its maiden collection offering a range of suits, sherwanis in menswear and lehengas, gowns, sarees in womenswear. The apparel collection was complemented by a jewelry collection from the brand’s official partner Rose.

A comprehensive wedding wear label, Aurum caters to the entire wedding celebration, says Bajaj who expects the label’s launch to boost sales. The designer recently also refurbished his boutique at the DLF Emporio. The launch of Aurum at this revamped store reflects the brand’s dedication to offer clients the finest in luxury fashion, adds Saurabh Bharara, Head-DLF Luxury Malls. The newly launched label will be available for purchase at all stores of Ravi Bajaj.

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27 November 2024, Mumbai

An edgy fashion label launched by actor Vijay Deverakonda, Rowdy Wear was awarded with the Iconic Indian Streetwear Brand award at the Outlook India Business Awards 2024. Known for its bold designs and youthful energy, Rowdy Wear has established its position as a trailblazer in redefining streetwear culture in India.

The recognition celebrates the brand's widespread appeal among India’s youth, who resonate deeply with its rebellious ethos and distinctive style. Launched as an extension of Deverakonda’s own personality and unique style, Rowdy wear has grown into a movement championing individuality, confidence and bold self-expression. The brand aims to make trendy fashion accessible, aligning with its youthful target audience. It focuses on edgy, urban designs, including t-shirts, hoodies, joggers, and accessories that resonate with India’s growing streetwear culture.

Operating primarily through its exclusive app, Rowdy Wear allows fans to access new collections and engage with the brand directly. The brand’s success not only reflects Deverekonda’s ability to connect with fans on and off the screen but also highlights its role in shaping India’s dynamic streetwear scene.

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28 November 2024, Mumbai

A recent report by Datum Intelligence has highlighted the growing impact of quick commerce on traditional kirana stores or corner stores in India. The report reveals the market share of kirana stores has been steadily declining, with a significant portion of consumers shifting their purchases to quick commerce platforms. This trend raises concerns about the long-term viability of kirana stores and their potential impact on the retail landscape.

Highlights of the Datum Intelligence report

Falling market share: Kirana stores' market share has decreased from 95per cent in 2018 to 92.6 per cent in 2023 and is projected decline further to 88.9 per cent by 2028.

Consumer shift: 46 per cent of quick commerce users have reduced their purchases from kirana stores, and over 82 per cent have shifted at least 25 per cent of their purchases to quick commerce platforms.

Quick commerce growth: The quick commerce segment is expected to grow at a CAGR of 48 per cent during 2023-28, driven by consumer demand for convenience and speed.

Threat to kirana stores

The rapid growth of quick commerce poses a significant threat to the existence of kirana stores. The convenience, speed, and wide range of products offered by quick commerce platforms are luring consumers away from traditional stores. Additionally, aggressive marketing tactics and deep discounts of quick commerce players are eroding the market share of kirana stores. This puts their future in jeopardy. However, despite the threat, it is unlikely that they will completely shut down. Kirana stores have been an integral part of India's retail landscape for decades, and they still hold a significant advantage in terms of customer relationships, personalized service, and credit facilities. However, to survive in the face of growing competition from quick commerce, kirana stores will need to adapt and innovate.

Affects on small apparel/fashion stores

While the primary focus of quick commerce has been on grocery and daily essentials, its impact on small apparel and fashion stores is likely to be limited. The nature of apparel and fashion products, which often require physical examination and try-on, makes it less suitable for online shopping. However, online marketplaces and e-commerce platforms are still posing a significant challenge to small apparel and fashion stores, especially those that lack a strong online presence.

Thus the rise of quick commerce is undeniably disrupting India’s traditional retail landscape. Small stores that have been the backbone of the retail sector, are facing significant challenges. To survive they will need to embrace technology, improve their services, and build stronger customer relationships. Policymakers too need to create a level playing field for both traditional and online retailers.

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27 November 2024, Mumbai

Showcasing a fresh approach to winter fashion for families, leading apparel manufacturer and retailer, Cantabil Retail India has launched its Autumn/Winter 2024 collection. The collection was launched alongside a video highlighting its versatility and sophistication, featuring comfort stretch technology, and stylish designs that transition seamlessly between professional settings, casual outings, festive gatherings, and travel.

Emphasing inclusivity, the collection offers a variety of fits and silhouettes for all body types. It includes tailored blazers, formal and travel suits and tuxedo suits alongwith wide-led trousers. Catering to evolving style preferences, the collection balances relaxed and oversized cuts with classic straight fits.

A few of the unique styles in this collection include high-neck sweaters for a sleek yet cozy look, versatile sweatshirts in relaxed and cropped styles, and hoodies with thoughtful details like ribbed cuffs and textured collars. For women, the range offers chic ethnic wear such as kurta-palazzo sets, dresses, and semi-formal options suitable for festive and professional occasions.

Key pieces like formal trousers, denims, and casual wear in this collection are enhanced through the use comfort stretch technology to ensure unrestricted movement without compromising style.

Some of the standout casual options in this range include cargos, boot-cut denims, and regular fits for men, alongside women’s contemporary silhouettes.

Professional wear receives special attention with ceremonial suits, three-piece sets, and travel-ready attire designed to balance refinement and practicality.

Reflecting subtle branding and minimalist designs, the collection blends functionality with modern aesthetics. It is available across 572 retail stores and major e-commerce platforms, including Myntra, Ajio, Flipkart, Amazon, and Cantabil’s own store, Cantabilshop.com.

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27 November 2024, Mumbai

The 34th edition of Cushman & Wakefield's flagship retail report’s ‘Main Streets Across The World 2024’, is out. The report has once again placed India on the global retail map. It highlights the growing popularity of Indian retail destinations, particularly Delhi's upscale Khan Market, which has retained its position as the 22nd most expensive high-street retail location globally.

A decade of transformation

India's retail landscape has undergone a transformation over the past decade. Economic liberalization of the 1990s paved the way for foreign direct investment (FDI) in retail sector, leading to the growth of modern retail formats like malls and hypermarkets.

What’s driving India's retail growth is a growing middle class with higher disposable incomes that has resulted in spending on retail goods and services. Rapid urbanization too has led to the emergence of new urban centers, creating opportunities for retailers to tap into growing consumer demand. At the same time, the rise of e-commerce has revolutionized the retail industry, offering consumers a wider range of products and convenient shopping experiences. Initiatives like ‘Make in India’ and ‘Digital India’ have further given a boost while promoting domestic manufacturing and digitalization.

Khan Market remains India's premier retail destination

Khan Market, the historic market in Delhi, has consistently ranked among the world's most expensive retail streets. The market's prime location, exclusive retail offerings, and affluent clientele have contributed to its high rental rates.

Table 1: India's Top 3 most expensive retail high streets

Economic volatility, rising costs a dampener

While India's retail sector is poised for continued growth, it faces several challenges viz.

Economic volatility: Economic fluctuations can impact consumer spending and retail sales.

Rising real estate costs: High real estate costs can limit retail expansion and increase operational expenses.

Intense competition: Intense competition from both domestic and international retailers can erode profit margins.

To address these challenges, retailers must focus on omnichannel retailing which involves integrating online and offline channels to provide seamless customer experiences. Leverage data analytics to understand consumer behavior and optimize operations this will help in decision making. And more importantly adopt sustainable practices to reduce environmental impact and attract eco-conscious consumers.

And most Indian retailers have taken up the challenge and adopted changes. For example, Reliance Retail, a subsidiary of Reliance Industries, has emerged as one of India's leading retail companies. By leveraging its strong brand reputation, extensive distribution network, and innovative retail formats, Reliance Retail has successfully captured a significant market share.

Thus as the country continues to grow, the retail industry is expected to play an important role in driving economic growth and creating jobs. With innovation, adapting changing consumer preferences, and addressing challenges proactively, Indian retailers can capitalize on the immense potential of the market.

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