24 March 2023, Mumbai 

Pacific Malls, a New Delhi-based company that operates six malls in North India, plans to open three new malls with 1.3 million square feet of retail space in 2023. The plan includes malls at Jasola, followed by Dehradun and Faridabad.

The company believes that malls with environmental, social and governance (ESG) objectives will be game-changers in the industry in the coming years. The company plans to add popular international fast fashion and bridge-to-luxury brands, refresh food and beverage offerings, and hold medium-to-large live events to improve customer experience at its malls.

With growth predicted in the commercial and residential segments, the outlook for the Indian real estate sector is positive, according to reports from real estate services firm JLL and CRISIL.

Pacific Mall will introduce the Synergy Tenant App to service tenant partners and Space As Service so that prospective tenants can access and evaluate options without third-party involvement.

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Tasva, the men's occasion wear brand, has opened its 43rd store in India, located in the Pitampura district of West Delhi.

The store features a full range of traditional wear designed for the modern Indian man. Tasva's latest collection, for spring/summer 2023, features ivory sets with delicate embellishments. The collection also incorporates deep red hues and flashes of opulence with gold accents, adding pops of color to traditional wear.

Tasva is a joint venture between Aditya Birla Fashion and Retail Limited and renowned couturier Tarun Tahiliani. The brand is owned by Indivinity Clothing, a partnership formed by the two businesses.

Tasva was launched in December 2021, with its first store opening in Bengaluru. Since then, the brand has expanded rapidly, opening stores in metros and Tier 1 cities across India. In addition to its exclusive brand outlets, Tasva also retails through its e-commerce store and has a presence on the multi-brand platform Myntra. The brand has recently opened stores in Surat, Meerut, Siliguri, Lucknow, and Jaipur.

13 March 2023, Mumbai

The Aditya Birla Group-owned department store chain Pantaloons has achieved a significant milestone with the opening of its 100th store in Thrissur, Kerala in South India.

With the addition of the Thrissur store, Pantaloons now operates 344 stores across more than 170 towns and cities in India.

Pantaloons is a unit of Aditya Birla Fashion and Retail Ltd. (ABFRL), which acquired the retailer from the Kishore Biyani-run Future Group in May 2015. Today, the department store chain offers over 100 licensed and international brands at its outlets, including its exclusive in-house brands for men, women, and kids.

Pantaloons' milestone achievement highlights the continued success of ABFRL in expanding its presence in the Indian retail market and providing consumers with a diverse range of fashion choices. ABFRL has an even more extensive network, with 3,212 brand stores across the country, and a presence in 31,000 multi-brand outlets and over 6,800 points of sale in department stores throughout India.

ABFRL's portfolio of brands includes Louis Philippe, Van Heusen, Allen Solly, Peter England, The Collective, Simon Carter, American Eagle, Ralph Lauren, Hackett London, Ted Baker, and Fred Perry. Additionally, ABFRL has recently made strategic investments in the branded ethnic wear business, with acquisitions of Jaypore, Shantanu & Nikhil, Sabyasachi, and Tarun Tahiliani.

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22 March 2023, Mumbai 

Fashion and apparel brands led the retail leasing activity in India from July to December 2022, according to a report by CBRE South Asia.

The research, titled "India Retail Figures H2 2022," found that multinational companies are increasingly renting out retail space, indicating a shift in consumer tastes towards traditional storefronts. Despite the growth of online shopping, demand for retail and commercial space continues to rise, leading to a surge in the construction of buildings designed to house both retail and office occupants.

The report identified Delhi-NCR and Bangalore as the top two regions for leasing activity, with the amount of retail space leased each year increasing by 21% from 2021 to 2022, adding 4.7 million square feet. Fashion and apparel brands accounted for about 42% of all leasing during this period, while food and drink, hypermarket, and entertainment stores saw increased demand in 2018.

The study found that over 60% of international retail brands have increased their regional presence, serving new client verticals in both metro and non-metro areas.

Experts commented that the growth trajectory of mall developers in the Delhi NCR region has been robust, supported by increased leasing activity. The festive season during the latter half of 2022 was also a significant driver of positive consumer sentiment, which encouraged retail brands to expand their footprint across Delhi-NCR.

The rise in demand for retail and commercial space in the region has led to a 4–8% increase in rent in some parts of Delhi-NCR and Bangalore.

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16 March 2023, Mumbai 

The All India Garment Manufacturers & Vendors Association (AIGMVA) has called for Future Group owner Kishore Biyani to pay the Rs 200 crore owed to its members since 2019, as per news published in Business Standard.

The AIGMVA, made up of approximately 350 members across various states in India, has threatened legal action if company fails to clear their dues.

The failure to pay has caused significant issues for the garment producers and vendors. Many had to take out bank loans to fulfill Future Group's orders, the banks are hounding the manufacturers and suppliers for default and refusing to offer more loans. This situation has left more than 100,000 people and their families, as well as other stakeholders, on the verge of joblessness and starvation due to Future Group.

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13 March 2023, Mumbai

Sai Silks Kalamandir Limited (Kalamandir),an ethnic wear retailer, has expanded its retail footprint in South India with the opening of a new store in Bengaluru, Karnataka. This marks the company's third store in the city and this store was inaugurated by popular actor Kichcha Sudeepa.

The new store spans four floors and occupies an area of more than 10,000 sq ft. It is located at Kalyan Nagar in Bengaluru and features a wide variety of contemporary sarees, including tusser, silk, kota, kora, khadi, among others.

Sai Silks (Kalamandir), the company's diverse offerings, which include ultra-premium and premium sarees, have established it as an ethnic fashion authority. Kalamandir ‘s Endeavour is to open stores in the same city to efficiently manage stores and inventory, and to tap the purchasing power of customers with a cluster-based model. The Kalamandir stores provide a unique experience and customer service, which combined with our inventory and variety of SKUs that it offers enables to attract and retain a growing customer base.

Sai Silks currently operates 54 brick-and-mortar stores in South India, with its flagship clothing brand named Kalamandir. The business has retail outlets in states including Karnataka, Telangana, Tamil Nadu, and Andhra Pradesh.

The company's expansion in South India reflects its efforts to meet the growing demand for ethnic wear in the region and offer a unique shopping experience to its customers.

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 20 March 2023, Mumbai 

The Sloan School of Management at MIT, USA had done a comprehensive study on the state of offline retail outlets post the pandemic that witnessed the solid establishment of online retail.

E-commerce Disrupts Offline Retail; The study states physical retail outlets were already falling slightly behind e-commerce, particularly in developed countries. The largest physical retail outlet market, the US, saw many iconic American brands closing their physical presence, including JCPenny and Neiman Marcus in the middle of 2020.

Two years later, the scenario seems to have changed slightly in favour of physical retail outlets that offer a glimmer of hope that they will be here to stay.

The two-year-long lockdown confinement may have worked the psyche of people as they now want social experiences outside the digital world. The study revealed contrary to popular belief millennials shop more in physical retail outlets more than Generation X and the main reasons were instant gratification of taking something home and the sensorial experience in store.

That is precisely why brands are rethinking refurbishing their physical spaces to leverage the new tide of offline shoppers. As experts point out, customers returning to shop in malls and high streets are prompting online-only brands to consider being present in the physical space as well.

All about the right location

Be it commercial or residential, it has always been and continues to be located. In India, this has great ramifications for brands seeking greater outreach away from the cluttered metros.

With Tier II, and III cities urbanizing rapidly throughout India, the opportunity to not only be visible but also usher in a whole segment of new customers to a sensorial experience of the brand is what is driving the opening of physical retail outlets across India.

CEO and Co-Founder of Chai Sutta Bar, the rapidly growing tea shop chain, Anubhav Dubey cited the location of an outlet is critical in determining the operations and therefore the profitability.

Retail is all about location..location..location; Venkatesh Kumar, CEO of IBO’s retail division believes for new brands, location is vital for the success of their physical outlets. The store has to be the right size to optimize both demand and inventory and also have access to a wider catchment area for customs.

Big technology, big opportunities

For a successful offline presence across a huge geographic market like India, big data will make all the difference. From assessing demand patterns of items to niche demands based on geographic needs, big data will help brands maximize their inventory distribution to ensure the movement of items.

End of the day, in retail it is the critical back-end operations including inventory management, warehousing, and supply chain that are heavily dependent on technology for efficiency and to be a successful retail business, a robust system has to be in place.

B Sakthi Kumar, Projects Head at Shoppers Stop feels the omnichannel approach has retailers looking at a variety of formats based on changing customer preferences. Therefore, technology integration is required for implementation.

The human touch

One thing the pandemic-led lockdown taught us is the importance of human interaction. No matter how digitally advanced the in-store experience is, it is the human touch that makes all the difference.

More and more brands are taking a leaf out of the beauty sector and training their in-store personnel to be personal shoppers that affirm choices and boost the confidence of customers during their selection and buying process.

More than any technology, it is the humans in the store that makes the customer feel like the king.

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15 March 2023, Mumbai

Indian youth fashion and apparel brand, Wrogn, co-founded by cricket superstar Virat Kohli, has launched a limited-edition capsule in collaboration with the Virat Kohli Foundation.

The range, featuring gender-neutral and edgy designs, is part of a fundraising initiative for the foundation’s animal welfare and sports welfare programmes. The collection, starting at Rs. 1799, includes t-shirts, hoodies and denim jackets, and has been designed by Bollywood filmmaker Karan Johar and rapper Badshah, blending their signature styles with elements from the foundation's work.

The collection is available in 20 cities across India through Wrogn’s exclusive brand stores, as well as at Shoppers Stop and Pantaloons, and can also be purchased online. In a statement, Kohli expressed his excitement over the partnership, stating, "This collaboration is a testament to the power of coming together for a greater cause and is set to make a significant impact in the lives of those who need it most".

Universal Sportsbiz Pvt. Ltd.’s Co-founder and COO, Vikram Reddy, added, “This collection is a testament to our commitment to social responsibility and giving back to the community." The brands under Universal Sportsbiz are retailed at over 350 points of sale in 144 cities in India and plans to expand its reach to over 1000 points of sale in the next 2-3 years.

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 12 March 2023, Mumbai 

India is home to 36 per cent of the world’s billionaires, these are the new Maharajas that are punters of all things luxury. According to the Frank Knight 2022 report, India ranks third globally in terms of billionaires, after US and China. A recently published Credit Suisse report corroborates – the number of Indian millionaires will increase 105 per cent in the next three years.India’s GDP is the fifth largest and defying global recession, continues with a growth of 7 per cent in 2023. Arecent EY report states, India’s GDP will reach $26 trillion and per capita income will touch $15,000 by 2047, placing it among the top developed economies. With such prosperity, can global luxury brands stay away?

The Indian luxury market is poised to grow 3.5 times its current size and reach a value of $200 billion by 2030, states a report from Bain & Company. The luxury market is being driven by the spurt of growth of ultra-high net worth individuals, who are valued at over $30 million in assets. The ultra-rich grew 11 times more in India in the last decade, spanning Tier I, II, III cities. Despite the current retail inflation, India’s luxury goods market generated revenue worth $7.5 billion in 2022.

Gold rush for international luxury brands

Iconic French luxury department store Galeries Lafayette announced its debut in India in partnership with Aditya Birla Fashion Retail. Offering a portfolio of over 200 luxury labels, Galeries Lafayette’s first stores opens in Mumbai and Delhi. Balenciaga is also ready to plunge in to the demand for luxury in India with the help of Reliance Brands and will open its first store in mid-2023. The Kering Group has had a robust relationship with Reliance Brands as it has already met success with the introduction of Valentino, Burberry and Jimmy Choo. Reliance Brands is perhaps the single largest retailer of luxury couture brands in India, with nearly 35 popular names under its umbrella, including Tiffany & Co., Salvatore Ferragamo, Ermenegildo Zegna, Tory Burch, Tod’s, Versace, Michael Kors and Bottega Veneta. The market's largest segment is luxury watches and jewelry with a market volume of $2.24bn in 2023.

Luxury sectors that top growth in India

Luxury homes have been the ultimate lifestyle statement and whilst the India neo-rich can’t claim heritage palaces, they are buying of luxury properties, particularly in metros, Tier 2 towns and at holiday destinations. Whilst 11 per cent of the wealthiest of Indians prefer owning luxury homes abroad, Mumbai, Delhi, Bengaluru, Hyderabad and Goa remain the top five Indian places for luxury homes, farm houses and holiday villas.

Luxury cars are another segment signaling excellent growth prospects. The case in point here is the year 2022. 38,000 luxury vehicles were sold in India that year, registering a 50 per cent rise compared to 2021.

Experiential luxury has really taken off amongst well-heeled Indians as they seek exclusive and customized experiences in the most exotic settings. Be it a personal holiday or a wedding, luxury destinations that offer the finest and the rarest are topping the preference charts. From the finest local cuisine and libations to the best crafted décor items and luxury fashion, Indian travellers are spending on travel experiences and are also showing their interest in sustainable travel.

Indians have definitely arrived in the contemporary luxury world as is evident from all major international labels are making a beeline for destination India.

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 20 March 2023, Mumbai 

Les Petits, a luxury kidswear brand in India, is taking advantage of the growing market for children's luxury fashion.

Reports suggest that the global kids' apparel market will reach $296.85 billion by 2029, and the luxury fashion segment in India is expected to grow annually by 1.67% between 2022-27.

Swati Saraf founded Les Petits in 2011 to provide luxury fashion for children in India, inspired by the struggles of parents to find luxury products for their children when travelling abroad.

The brand offers clothes, accessories, furniture, high chairs, strollers, prams, toys and jewelry. Les Petits has exclusive rights to sell the kidswear collections of seven brands, including Versace, Dolce & Gabbana, Fendi, Givenchy, Moschino, Bloom, Luna, Kenzo, Janod, KMM, and Charm IT. The company also sells exclusive designs in silverware with Argentor Silver and the limited edition Rajasi Jindal collection.

Les Petits recently launched its fourth store in Hyderabad, and it has an online platform, which has contributed to 20% of overall revenue generation, growing year-on-year. Les Petits is expanding its product offerings by adding toiletries and wooden toys to meet the end-to-end requirements of children.

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14 March 2023, Mumbai 

Two Point Two and Six5six, two Indian streetwear brands, partnered with Reliance Industries Limited's sustainable textiles brand R|Elan Fabrics 2.0 to showcase their collections at Lakme Fashion Week x FDCI in Mumbai.

RIL's sector head for polyester, Hemant D Sharma, expressed the company's commitment to promoting sustainable fashion and providing high-quality, eco-friendly fabrics that capture the latest trends and style.

Japanese Martial Art inspiration

Two Point Two's new collection, "A Warrior's Journey," featured Japanese-inspired streetwear mixed with R|Elan high-performance fabrics and bold graphics. The gender-agnostic line drew inspiration from the Shu-Ha-Ri philosophy of Japanese martial arts, it as an expression admiration for Japanese culture.

Recycled way to streetwear

Six5six showcased "The Uniform," a travel-inspired line of street style separates with photographic prints. The collection included textiles such as denim recycled polyester and printed recycled slub jersey, emphasizing the brand's commitment to sustainability.

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11 March 2023, Mumbai 

Spanish fashion retailer Mango is planning to open 35 new stores in India in 2023, bringing its total number of stores in the country to 110.

This expansion in India is part of Mango's global growth strategy, which aims to establish a strong presence in key markets worldwide. India is one of the fastest-growing fashion markets in the world, and Mango sees significant potential in the country's increasingly fashion-conscious consumers.

Mango's expansion in India is part of a larger trend in the fashion industry, as brands look to tap into the country's growing middle class and increasing consumer demand for fashion. With its continued focus on quality and affordability, along with a growing commitment to sustainability, Mango is positioning itself for long-term success and continued growth in India and other key markets around the world.

Founded in Barcelona in 1984, Mango has become a well-known brand in the fashion industry, with a strong reputation for producing stylish and trendy designs at affordable prices. Mango's commitment to sustainability and ethical practices has also contributed to its success, with initiatives like the Take Action program aimed at reducing waste and promoting responsible practices.

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