02 July 2022, Mumbai:

The Export Promotion Council for Handicrafts will hold the 54th edition of its Indian Handicrafts and Gifts Fair from October 14 to 18 at the India Expo Centre and Mart in Noida, Delhi NCR to promote the industry globally.

The event is one of Asia’s largest gifts and handicrafts fairs and draws a visitor crowd of both domestic and international buyers. The main aim of the fair is to boost India’s handicrafts exports to uplift the sector and demonstrate the wide array of products available from Indian manufacturers.

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The trade show will feature product categories including fashion jewellery and accessories, home furnishings, spa and wellness products, bamboo and eco-friendly products, bathroom accessories, gift items, carpets and rugs, garden accessories, festive décor, and furniture, etc.

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04 July 2022, Mumbai:

Lenskart has signed a deal to buy a majority stake in Japan’s Owndays Inc, making it one of Asia’s biggest online eyewear retailers. Supported by SoftBankk Group Group, Lenksart will buy the shares held by L’Catterton Asia and Mitsui & Co. Principal Investments. The deal values Owndays at about $400 million.

The Japanese retailer will operate as a separate brand led by co-founders Shuji Tanaka and Take Umiyama but target the premium segment, while Lenskart will focus on the middle and mass market segments, they said. Lenskart will own majority stake in Owndays but the deal is designed as a merger.

The eyewear brand will depend on Owndays to expand presence in physical retail. The deal will help the brand to build a company like Amazon for eyewear, says Piyush Bansal, Co0Founder and CEO, Lenskart.

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02 July 2022, Mumbai:

Amazon India expects its fashion and beauty categories to return to pre-pandemic growth this year for both Indian and international brands as the business penetratesinto non-metro markets.

According to SaurabhSrivastava, Director, Amazon India, some of the retail trends driving this growth include increasing digital adoption across the country and sustainable fashion advancements.

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The business has seen increasing demand from Tier 2 cities and beyond in line with increased internet access and adoption in these regions. Over 70% of Amazon’s customer orders and over 86% of the e-commerce platform’s new customers hail from Tier 2 cities and more rural areas, according to Srivastava.

To continue to tap into this trend, Amazon India has been expanding its regional services including its language services. The platform is now available in eight languages and Amazon Fashion is partnering with local influencers for local influencer marketing.

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04 July 2022, Mumbai:

Footwear brand Birkenstock has strengthened its retail presence in South India by opening its second brick-and-mortar store in Bengaluru’s Orion Mall. The store houses Birkenstock’s classic season-less footwear collection and its seasonal lines for men, women, and children.

Birkenstock recently opened stores in Jubilee Hills, Hyderabad; Lulu Mall, Kochi, and Express Avenue Mall, Chennai. The brand is known for its classic slip-on sandals designed to optimize comfort.

Vinay Bansal, Managing Director, Birkenstock India says, having expanded presence across various states, Birkenstock India is exploring the Indian market. The great response received for its recent store openings encourages the brand to enhance and curate an experience to hence its popularity across India, he adds.

05 July 2022, Mumbai:

Indian retail sector is likely to witness accelerated earnings growth despite rising inflation as consumer sentiments and discretionary purchases bounce back from COVID-19 pandemic.

Sector growth will be boosted by a shift in consumer preferences from unorganized to organized sector coupled with rising domestic demand, says Nishit Master, Portfolio Manager, Axis Securities.

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Mall footfalls Tier II cities and standalone stores are growing with increasing consumption levels. Retailers are also expanding stores as sales recover to pre-pandemic levels. Aditya Birla Fashion and Retail (ABFRL) plans to set up around 400 stores in their 'Lifestyle' format while Shoppers Stop plans to set up 12 to 13 new department stores. Analysts at Phillip Capital opine, mall-based retailers like Shoppers Stop and Pantaloons could grow relatively faster in the first half of FY23.

Gaurav Dua, Head-Capital Market Strategy, Sharekhan - BNP Paribas, says, domestic players like Trent, ABFRL, and Bata India will perform well in the coming quarters driven by strong domestic demand. However, Indian retailers will continue to remain pressured by a rise in freight and power costs due to increase in crude oil prices and disruptions in supply chain dynamics, adds Dr VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

To offset margin pressure emerging from high input costs and inflation, companies like Westlife Development, V-Mart Retail, and Devyani International hiked prices in the range of 6 to 11 per cent in April 2022.

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 30 June 2022, Mumbai:

The largest store of sportswear brand Adidas was inaugurated by athlete Nikhat Zareen in Bengaluru recently.

The 6,500 sq. ft, three-storey store offers both online and offline shopping services and features Adidas’ complete range of clothing and accessories for running, training, sportswear, football, basketball, golf, tennis and outdoors for men, women and children.

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Sunil Gupta, Senior Brand Director says, the store provides a global shopping experience to the brand’s consumers besides offering them a glimpse of the brand’s experiences zones, digital touchpoints and sustainability initiatives.

One of the striking features of the store is the ‘Sustainability Wall’ made up from electronic waste displaying the brand’s End Plastic Waste logo. The logo reflects the brand’s commitment to sustainability. Other features of the store include a children’s activity area, an exclusive football floor, and a gaming inspired lounge.

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