Leading apparel manufacturer and retailer, Cantabil Retail India opened .the brand's 38th store in Punjab in Ludhiana. The store strengthens the brand’s commitment to providing accessible and trendy fashion to customers across the region.

The new store offers a wide range of menswear from formalwear and casuals to partywear and ethnic wear. It also features a dedicated women’s wear collection including workwear dresses and everyday essential. Besides, the store offers a curated selection of shoes, bags, belts and other accessories.  It has dedicated sections for men, women, and children catering to the needs of the entire family.

This new store opening reflects Cantabil's commitment to expanding its retail footprint across India. With ambitious plans for further expansion in the coming years, the brand aims to reach even more customers and offer them a fashionable and affordable shopping experience.

Renowned British fashion retailer, Marks and Spencer (M&S) has unveiled its third store in Jaipur, India. Located in Vaishali Nagar, the new store promises a fresh shopping wav" of the brand's signature style and quality.

The opening of the store marks a significant milestone for M&S in India. Having entered the Indian market in 2001, M&S partnered with Reliance Retail in 2008. It currently boasts over 107 stores across 33 Indian cities.

With a team of over 1,900 employees supporting both offline and online channels, M&S is committed to providing a seamless shopping experience for its Indian customers.

Founded in 1884 in Leeds, England, M&S has a rich history spanning over a century. Today, it operates over 1,064 stores in the UK alone, with hundreds more scattered across the globe. The company employs over 66,000 people worldwide, making it a significant player in the global retail industry.

With the opening of its new store in Jaipur, M&S plans to further strengthen its presence in India and cater to the growing demand for stylish and high-quality fashion.

Traditional Indian retailer Jaypore has launched its e-commerce store in the US offering a treasure trove of handcrafted delights to the American market.

The store offers a curated selection of apparel ranging from the intricate patterns of ajrakh and kalamkari to the delicate elegance of Benarasi and chikankari. It also offers a collection of homeware, jewelry, and accessories, made with traditional techniques.

To celebrate the launch of this store, Jaypore is offering free shipping on orders over $100. And for a limited time, its ‘Shades of Love; sale will offer a 15 per cent discount on clothing and jewelry, with an additional 10 per cent off for purchases above $150.

The online store is a one-stop shop for all things Indian. It has dedicated sections for men, women, jewelry, accessories, and home, in addition to the latest collections like the springtime ‘Kashni’ collection for women. Featuring botanical prints on flowy linen-blend garments, this collection offers a fresh and whimsical take on Indian style.

The Q3 FY23 net profit of Cantabil Retail India declined by 11 per cent decline to Rs 24 crore ($3 million) as against a net profit of Rs 27 crore in the year ago period.

The company’s revenue for the quarter rose by 7 per cent to Rs 174 crore, as against Rs 162 crore posted in the October-December quarter of the previous fiscal year.

Vijay Bansal, Chairman and Managing Director, says, the company has demonstrated notable resilience in tough conditions. It delivered admirable financial results with a revenue growth of 11 per cent in 9M FY24 despite muted consumer demand and a warmer winter affecting winter sales.

Looking forward, the company remains cautiously optimistic and plans to provide superior value to its consumers by driving competitive volume growth, and investing in brand development. .It anticipates a rebound in discretionary spend with the onset of the wedding season and late winters, propelling the company’s growth trajectory further in the coming quarters..

From April-Dec, 2023, Cantabil Retail India opened 66 stores taking the total tally to 513 stores as of December 31, 2023. It plans to increase its store count to over 700 in next 2-3 years. 

Department store giant Shoppers Stop has opened two new outlets of its value fashion brand ‘Intune; in South India, bringing the total number of stores to 13. Located in Vashi, Maharashtra, and Hyderabad, Telangana, these new stores cater to young families with affordable clothing and accessories starting at just Rs 199.

Launched in June as a trial, Intune has quickly gained traction with its budget-friendly offerings. This expansion follows the initial success of two stores in Hyderabad and one in Mumbai. Shoppers Stop aims to open around 24 Intune outlets by the end of March 2024, solidifying its presence in the value fashion segment.

Founded in 1991, Shoppers Stop boasts a vast network of over 106 department stores, 7 premium home concept stores, and 88 beauty stores across India. With the addition of these new Intune locations, the company further strengthens its retail footprint and caters to a wider range of customer preferences.

Turkish e-commerce giant Trendyol is shifting its focus to Myntra, becoming the platform's exclusive seller in India. This move comes after Trendyol's successful run on Myntra, where it quickly became a top-selling international women's western wear brand.

Trendyol sees India as a key market and wants to solidify its brand recognition. Focusing on one platform allows Trendyol to grow its product catalog growth quickly and access premium customers. Myntra has been a good fit for Trendyol, delivering strong sales and brand performance. Its ‘Beyond Borders’ program provides access to a wider Indian audience.

Trendyol’s move strengthens Myntra's position in the international fashion space. It highlights the growing demand for global brands among young Indian customers.

Driven by the festive season, V-Mart Retail reported a 41.36 per cent rise in net profit during Q3 2023 performance. The company’s net profit surged to Rs 28.23 crore compared to the same period last year. Its revenue from operations also increased by 14.43 per cent to Rs 889.05 crore.

The company attributed this positive performance to a 23 per cent surge in customer footfall during the festive season. However, a delay in the launch winter collection muted demand, impacting sales in that category.

Despite the muted winter season, V-Mart managed to reduce inventory by 12 per cent compared to the previous quarter. The company’s overall expenses for the quarter increased by 15.18 per cent to Rs 865.20 crore. Its revenue from retail trade stood at Rs 872.04 crore, while revenue from the Limeroad digital marketplace totaled Rs 17.01 crore. The company’s total income during the third quarter ended December 2023 surged by 16 per cent to Rs 902.08 crore.

V-Mart Retail also added 20 new stores during the quarter while closing 3, bringing its total store network to 454.

08 February 2024, Mumbai

Operational retail space in India's top seven cities is expected to rise by 45 per cent from 91 million sq ft to 132 million sq ft by 2028.

As per a new report by JLL Developers are focusing on larger malls which grew by 41 per cent in size in 2023. These malls offer enhanced shopping experiences with entertainment, F&B, and fashion. Large foreign investors are expected to hold 24 per cent of the new supply in the next 5 years.

Interesting data-points

The newly launched first retail REIT paves the way for further acquisitions and portfolio expansion. Led by Bengaluru, Delhi NCR and Mumbai, retail leading surged to 8.7 million sq ft in 2023. Most of this space was occupied by fashion and apparel brands followed by F&B, entertainment and home furnishing.

Around 14 new international brands entered India in 2023, primarily in Mumbai and the F&B sector.

Latest Textile Events

The iconic Italian luxury brand, Valentino, has opened a flagship store in the Jio World Plaza mall in Mumbai.

Launched in collaboration with Reliance Brands, this boutique showcases a curated selection of the brand's coveted womenswear, menswear, and handbags. The store's design echoes Valentino's timeless elegance. It houses a dedicated menswear section that reflects the brand's commitment to crafting sartorial masterpieces, ensuring every detail caters to the discerning gentleman.

The store’s background is painted in black, white, and red hues create a striking
backdrop. Its clear, red, and peach furniture adds a touch of vibrancy, while the central seating area allows customers to relax and contemplate their next purchase in comfort. Geometric, square tiles lend a unique retro touch, completing the store's distinctive aesthetic.

Established in 1960 by Valentino Garavani, Valentino has long been celebrated for its couture and ready-to-wear collections. Renowned for its impeccable tailoring and exquisite use of textiles, the brand continues to captivate hearts with its timeless designs. This Mumbai flagship store is a testament to the brand's dedication to offering a truly unparalleled luxury experience in it.

Encompassing apparel, footwear, beauty, and quick service restaurants (QSRs), India's discretionary retail sector witnessed a sharp slowdown in 2023.

Nuanced data-points

Growth in the segment halved to just 9 per cent compared to the previous two years' pandemic-fueled surge. This reflects weakening consumer sentiment, despite continued spending on high-ticket items like cars and electronics aided by easy loans.

Hardest hit was the budget-conscious value category in apparel and footwear, says a report by the Retailers Association of India (RAI).

Same-store sales growth (SSG) for the organised retail sector stood at a meager 2-3 per cent, indicating an underlying drop in demand for everyday items like clothes, shoes, cosmetics, and fast food.

Study

Based on a survey of top 100 modern retailers, the report highlights that like-for-like’ growth remained muted throughout 2023. Though network expansion fueled some growth, it did not reflect organic customer demand.

The sector was further impacted by price hikes in 2022, driven by cotton price surges and rupee depreciation, followed by steep discounts to clear unsold inventory in 2023. The initial pandemic-driven'revenge shopping’ boom, particularly for athleisure wear, also stabilised.

While premium products fared slightly better, the value category remains significantly below pre-pandemic sales levels, explains Kumar Rajagopalan, CEO, Retailers Association of India (RAI).

Mixed bag

Within segments, the apparel and clothing segment grew slowest at 8 per cent, while furniture, sporting goods, and jewelry grew at 12 per cent, and beauty, electronics, and food and grocery grew by 11 per cent each.

Renowned menswear brands under Aditya Birla Fashion and Retail (ABRL), Louise Philippe and Peter England have opened their first-ever stores in Mauritius.

Launched in collaboration with leading local retailer, Jetha Tulsidas, these stores offer paralleled quality and diverse styles.

Louis Philippe’s flagship store in Tribeca spans 1,668 sq ft. It showcases an extensive collection of formal and semi-formal attire, alongside curated accessories. Blending sophistication with understated luxury, the store serves the perfect destination for the modern man.

The debut store of Peter England spans 1,884 sq ft. Located in Curepipe, the store houses a harmonious blend of classic and modern styles. It offers a wide range of shirts, trousers, denims, occasion wear, and accessories.

Jacob John, President-Premium Brands, ABFRL, says, the company’s collaboration with Jetha Tulsidas reflects their dedication to offering an exceptional shopping experience worldwide.

Dinesh Tulsidas, CEO, Jetha Tulsidas & Sons, adds, the stores will consolidate the company’s position as a leading fashion retailer in Mauritius.