Making a significant expansion into the Northeast region, leading departmental store chain Shoppers Stop has opened its first store in Agartala. This new store promises to elevate the shopping experience for residents with its wide range of fashion, beauty, and home decor brands.

Staying true to its commitment to local communities, Shoppers Stop employs 100 per cent Agartala residents for its front-end staff. This move not only provides job opportunities but also demonstrates the brand's faith in the city's potential.

The store boasts over 500 international, national, and exclusive brands across various categories, catering to diverse individual preferences. It offers a comprehensive selection of renowned labels like Jack & Jones and Levis to popular beauty names like Lakme and Maybelline for fashion-conscious and beauty-savvy customers.

Going beyond just offering products, Shoppers Stop adds a personal touch to its customers shopping experience through personal shopper services, and the First Citizens Club program.

This expansion underscores Shoppers Stop's continuous growth strategy. With over 107 stores across India and a presence in major airports, the brand continues to solidify its position as a leading retail destination.

Luxury fashion retailer Ogaan is hosting a bridal extravaganza on February 24, 2024 at The Oberoi, Delhi, offering a one-stop shop for spring weddings and festive season celebrations.

Open to customers, the even features a curated selection from renowned brands like Anamika Khanna, Divya Sheth, Nidhi Tholia, and Kiran Uttam Ghosh. It provides an exclusive opportunity for brides-to-be and fashion enthusiasts to explore the latest collections ahead of the busy season.

This event follows the recent launch of Raw Mango's handwoven silk sarees at Ogaan's Haus Khas store, further solidifying their commitment to showcasing exceptional designer wear.

Founded in 1989, Ogaan is a leading name in luxury fashion retail in India. The retailer has an e-commerce platform and six multi-brand stores across Delhi, Mumbai, Hyderabad, and Kolkata. It is known for its curated selection of established and emerging Indian designers, offering a unique blend of modern and traditional aesthetics.

India's retail landscape is undergoing a massive transformation. Malls are springing up like mushrooms, high-street brands are flooding the market, and e-commerce giants are expanding their physical presence. This boom in retail real estate has investors cheering, but questions linger: is it a sustainable growth story or a bubble waiting to burst?
The Rise
The numbers paint a rosy picture. As per JLL India, retail real estate investments crossed $2.2 billion in 2023, a 67 per cent increase year-on-year. Tier II and III cities are witnessing a surge, with developers recognizing the untapped potential of a growing middle class. The rise of e-commerce, surprisingly, fuels this growth. Physical stores are increasingly seen as experience centers, complementing online sales.
The report says by 2028, supply of retail real estate space will increase almost 45 per cent from the 91 million sq ft in seven major cities. This will be fuelled by developers expanding their retail footprint. The top seven are: Delhi-NCR, Mumbai, Pune, Bengaluru, Kolkata, Chennai, and Hyderabad. The report also highlighted in 2023, 8.7 million sq ft of gross leasing across malls and prominent high streets took place in the top seven cities with Bengaluru leading (33 per cent share), followed by Delhi NCR with 18 per cent share and Mumbai at 17 per cent share. Gross leasing refers to all lease transactions recorded during the period, including confirmed pre-commitments.
Fashion and apparel at 40 per cent had the highest share in total leasing volume. Super value and value fashion segments have witnessed great traction from leading retailers as they are launching their new formats and expanding in this segment.
The boom and growth drivers
Several factors are driving retail growth in India.
Rising disposable incomes: India's growing middle class has more money to spend, creating a demand for modern shopping experiences.
Urbanization: Rapid urbanization is leading to the development of new townships and satellite cities, requiring more retail space.
E-commerce integration: E-commerce giants like Amazon and Flipkart are increasingly investing in physical stores, blurring the lines between online and offline retail. Also, the sector is witnessing innovation in formats, with mixed-use developments, omnichannel experiences, and experiential retail gaining traction.
Government initiatives: Initiatives like Smart Cities Mission and relaxation of FDI norms are attracting investments in retail infrastructure.
Favourable demographics: India boasts a young and aspirational population, with a rising disposable income. This translates to increased spending power and a growing demand for modern retail experiences.
Concerns about a retail bubble waiting to burst
Despite all the optimism and statistics backing it up question linger if this growth is for real or just a bubble waiting to burst. Indeed there are reasons for optimism as India's retail market penetration is still low compared to developed economies, offering immense room for growth. Moreover the rise of omnichannel retail, with seamless integration between online and offline experiences, caters to evolving consumer preferences. And malls are transforming into leisure and entertainment destinations, attracting foot traffic beyond just shopping.
But the doubts are many. A potential economic slowdown could dampen consumer spending, impacting retail sales and occupancy rates. The sector's dependence on consumer spending makes it vulnerable to economic downturns. Rising inflation and interest rates could dampen consumer sentiment. Also, unplanned mall development could lead to oversupply, pushing down rentals and impacting profitability. While investments are high, absorption rates, especially in larger malls, remain a concern. Overbuilding in certain segments could lead to vacancies and declining rentals. While online giants are entering physical retail, they could also disrupt traditional brick-and-mortar stores. The environmental impact of excessive construction and energy consumption in malls needs to be addressed.
Indeed, while there are risks associated with the rise of retail real estate in India, the potential for growth is undeniable. By adopting a balanced approach that considers consumer needs, economic realities, and environmental sustainability, developers can ensure a thriving and sustainable future for this sector.

Indian menswear brand by Aditya Birla Fashion and Retail and celebrated designer Tarun Tahiliani, Tasva has launched its ninth store in Maharashtra. Located in Pune, the store is the brand’s 76th store in the country.

Located in Kohinoor World Towers, the store caters to the discerning clientele of the city and surrounding region, offering a wide range of meticulously curated wedding and occasion wear with its new perspective, seamlessly blending comfort with style.

Spread across 3,219 sq ft, the new store presents a remarkable range of kurtas, bundis, sherwanis, bandhgalas, achkans, churidars, aligarhis, and accessories such as safas, brooches, pocket squares, shawls, stoles, mojaris, etc. Its delicate ambience complements the exceptional collection. Tasva has a team of knowledgeable stylists to understand customers’ unique preferences and provide personalised assistance.

Each garment in the store reflects Tarun Tahiliani’s signature style, expertly crafted with impeccable attention to detail. Tasva uses traditional embroidery such as zardori, aari, chikankari and gota on fabrics such as silk, banarasi brocade, velvet, and cotton to combine the elegance of Indian craftsmanship with contemporary silhouettes.

Retailer of clothing from brands such as Arrow, Calvin Klein and Tommy Hilfiger, Arvind Fashions reported a slowdown in revenue growth in its third quarter spanning October-December.

Arvind Fashions' consolidated revenue rose about 5 per cent to Rs 11.25 billion in the October-December quarter. However, this was 7 per cent decline as compared to the previous quarter but a 17 per cent growth on a Y-o-Y basis.

Arvind Fashions' profit from continuing operations rose by 14 per cent to Rs 301.2 million in the third quarter. That excluded a one-time gain of Rs 348.2 million from the sale of its unit, Arvind Beauty Brands.

Arvind Fashions’ rival Shoppers Stop reported a third consecutive fall in quarterly profits while the profit of Tata Group-owned Trent surged on strong festive-season sales.

Emerging from the shadows of the COVID slump, Indian’s value retailer V2 Retail reported a 56 per cent surge in revenue during Q3 FY24. Primarily driven by a robust performance from its existing stores, the retailer recorded a 47 per cent rise in same-store sales during Q3 and 29 per cent during 9MFY24.

Despite operating in a challenging environment with weak demand in rural and semi-urban India, V2 Retail strategically expanded its network, opening 14 new stores while closing nine underperformers during the April-December 2023 period. This network optimisation boosted the company’s store productivity, contributing to the strong financial performance.

While pricing pressures led to a slight dip in gross margin, the company's focus on quality control yielded positive results. It’s operating profit surged by 60 per cent and net profit improved by 153 per cent.

The company’s consolidated revenue also increased by 35 per cent during 9MFY24, accompanied by a 67 per cent rise in operating profit and a transition from a loss to a profit of Rs 24.1 crore.

V2 Retail is well-positioned to sustain its success in the value retail market by leveraging its established network, offering innovative products, and targeted expansion plans.

Aditya Birla Fashion and Retail.(ABFRL) saw its Q3 FY24 consolidated revenue increase by 16 per cent to Rs 4,167 crore, despite facing a challenging market environment with muted demand. However, the company reported a net loss of Rs 107.60 crore, compared to a net profit in the previous year's same period.compared to a net profit of Rs 11.21 crore in Q3 FY23.

ABFRL’s EBITDA grew by 29 per cent to Rs 605 crore during the quarter, leading to an improved EBITDA margin of 14.5 per cent. The company current has 4,753 stores across various formats, covering a wide reach across India.

ABFRL emphasises its resilient performance despite challenging market conditions. The company remains committed to delivering value and expanding its reach strategically. It highlights its strong brand portfolio and diverse growth platforms for future success.

ABFRL owns a wide range of popular fashion brands, including Louis Philippe, Van Heusen, Allen Solly, Peter England, and Pantaloons. It also has partnerships with international brands like Ralph Lauren, Hackett London, and Forever 21.

Marking a significant step in its global expansion plans, Aditya Birla Fashion and Retail (ABFRL) is launching its renowned artisanal brand, Jaypore, in the United States.

Known for its curated collection of handcrafted apparel, jewelry and homeware inspired by Indian craft traditions, Jaypore has partnered with Ingenuity for implementing targeted strategies for customer acquisition and retention, leveraging influencers, paid media, and affiliate programs.

This move reflects ABFRL's ambition to expand its direct-to-consumer (DTC) presence internationally. Ashish Dikshit, Managing Director, ABFRL, says, the Jaypore’s launch in the US market enables the company to explore the global market through the digital route. ABFRL’s expertise in streamlined commerce solutions will play a significant role in Jaypore’s success, adds Vivek Ganotra, CEO.

ABFRL aims to diversify its portfolio beyond its established presence in India. The company boasts a strong network of brands and retail formats, including iconic names like Louis Philippe and Van Heusen, and has ventured into ethnic wear with brands like Jaypore.

Spearheaded by TMRW, ABFRL's House of D2C Brands initiative demonstrates its commitment to innovation and growth.

Leading footwear brand, Sparx aims to reshape the Indian retail landscape by launching its first-ever experience store in Vegas Mall, Dwarka. This innovative venture positions Sparx as a brand catering to diverse consumer preferences while venturing into the premium segment.

Ramesh Kumar Dua, Managing Director, Relaxo Footwears, says, the store will serve as a platform to offer unparalleled convenience and choice. It will help Relaxo drive a positive change in the industry, he adds.

Emphashing on Sparx’s foray into premiumization, Gaurav Dua, Executive Director of Relaxo Footwears, adds, the experience store will showcase the finest Sparx products under one roof, providing an interactive experience for the youth to connect with the brand.

By expanding its product portfolio and elevating the retail experience, Sparx aims to solidify its brand presence and cater to the evolving preferences of discerning consumers.

French fashion brand Kiabi is making its Asian debut in India in partnership with e-commerce giant Myntra to tap the country's growing online fashion market. This marks a shift from Kiabi's initial plans of entering through brick-and-mortar stores.

Kiabi will offer over 500 diverse fashion products, including co-ord sets, dresses, and t-shirts. It will have a dedicated online store on Myntra that will ensure brand visibility and access to millions of potential customers.

The partnership will leverage Myntra's extensive reach, including its popular ‘Myntra Minis; video content platform. Kiabi's focus on affordable, sustainable family fashion aligns with Myntra's values and customer base.

Founded with a store in 1978 in France, Kiabi is present in over 25 countries across Europe, the Middle East, Africa and South America. The ready-to-wear clothing brand is owned by The Association Familiale Mulliez (AFM), the group that also owns sportswear label Decathlon and supermarket chain Auchan among other retail brands. Francois Haimez, International Leader, Kiabi, says, the strength and prowess of a key player like Myntra will help us simplify access to fashion for everyone.

On the other hand, Myntra is a leading e-commerce platform with over 400 international brands onboard. Jayanti, Ganguly, Vice President, Myntra, adds, the e-commerce player is confident of building Kiabi into a household name with its huge base of premium shoppers, robust delivery network and keen understanding of India’s fashion needs.

Aditya Birla Group-company, Grasim Industries, reported mixed results in Q3FY24 as the company’s revenue from operations surged by 11.61 per cent Y-o-Y to Rs 31,965.48 crore while net profit declined by 41.5 per cent to Rs 2,603.43 crore.

The company’s attributes the growth in its revenue during the quarter to a strong performance by Grasim's subsidiaries including UltraTech Cement and Aditya Birla Capital. On the other hand, the dip in the company’s profitability is attributed to factors like rising raw materials costs and increased operational expenses.

During the third quarter, Grasim's profit after tax adjusted for certain non-recurring items increased by 48 per cent Y-o-Y.

Revenue from the viscose-pulp, viscose staple fibre, and filament yarn segments surged to Rs 3,714.58 crore during the quarter.

A Tata Group-retailer Westside has expanded with its 229th store in Mohali that offers most of the retailer’s brands across apparel, accessories, cosmetics, footwear and HOME sectors.

Spread across 39 sq. ft, the new store delivers an extraordinary retail experience, by offering with contemporary and modern fashion trends at an exceptional value. It offers a seamless shopping experience, with meticulously arranged and clutter-free displays that highlight the newest fashions.

Womenswear brand Utsa from Westside offers a modern solution to the everyday ethnic wardrobe. Another brand Bombay Paisley presents a contemporary, creative, free-spirited and fusion while Vark offers ethnic wear for modern, opulent, warm and sophisticated occasions. Premium day-wear brand Zuba blends elegance with modernity while Nuon reflects youth that engages a social generation.

Menswear brand WES offers a weekend range, along with lounge wear that is comfortable and urban. Nuon Men offers curated streetwear for the millennial while Studio West offers an exclusive range of beauty products not only for Indian women, but for men as well.

Combining fashion and functionality, Westside's kids wear collection showcases a range of charming and trendy outfits including adorable dresses, stylish tops, cozy knitwear and versatile bottoms.

Westside's footwear collection is equally captivating with casual sneakers, elegant heels, sturdy boots and sporty sandals. The store also offers a fantastic selection of home decoration items.