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Retail 25-02-2022

1-India Family Mart raises Series B round funds

25 February 2022, Mumbai:

Value retail chain startup 1-India Family Mart has raised Rs 50 crore ($6.6 million) as a part of its Series B round from Dubai-based financial services firm Gulf Islamic Investments (GII).

The Gurugram-based firm, which also counts Carpediem Capital as its other financial backer, will leverage the capital to double stores count, both organically and through acquisitions.

ALSO READ: HSE raises Rs 25.50 Cr funds to expand its D2C footprint

“We are excited to raise a fresh funding round from GII which will significantly boost our expansion plans, strengthen our retail presence and drive growth trajectory of the group,” said Jay Prakash Shukla, CEO at 1-India Family Mart.

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*Figures mentioned in the above article have been sourced from vccircle.com article.

Retail 25-02-2022

1-India Family Mart raises Series B round funds

V2 Retail Q3 FY22 results posted

19th February 2022, Mumbai:

The net profit of V2 Retail declined by 17 per cent to Rs 12 crore during the third quarter ended December as against Rs 15 crore in the year-ago period.

However, the company revenue during the quarter increased by Rs 239 crore, as against Rs 227 crore it reported in the corresponding period of the previous fiscal year.

Ram Chandra Agarwal, Chairman and Managing Director, says, demand in the festive season of October and November, however, demand tapered sharply post December 15 and till January 2022 due to restrictions imposed by various state governments in the wake of third wave of COVID-19.

Ram Chandra Agarwal, Chairman & Managing Director, V2 Retail Ltd - Indiaretailing.com

ALSO READ: Aditya Birla Fashion & Retail (ABFRL)’s: New age digital brands to contribute constructively to its revenue in 5 years

The recovery will be sharper with the onset of the festive season in coming months, Agarwal adds, The company kept all its stores operational during the quarter. It continues to emphasize on private brands and opened one store during the quarter.

Currently, V2 Retail has 97 stores across India. It plans to open 5 stores during the fourth quarter to end the fiscal year with over 100 stores.

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Retail 19-02-2022

January retail sales restricted to 91 per cent of pre-pandemic levels: Retailers Association of India (RAI)

17 February 2022, Mumbai:

Pandemic-related restrictions restricted retail sales in India to just 91 per cent of pre-pandemic levels of January 2019 and 2020, indicates a survey by the Retailers Association of India (RAI).

Sales in the East declined 13 per cent year-on-year in January 2022 compared to January 2019. This was followed by the Western region where sales declined 11 per cent and North where sales dropped 8 per cent.

Least impact was in the Southern zone which registered a mere 2 per cent decline in sales as compared to January 2019, says RAI.

Beauty, wellness and personal care categories witnessed the biggest 24 per cent drop in sales compared to January 2019.

These were followed by furniture and furnishing where sales dropped 12 per cent; apparel and clothing registered 7 per cent decline in sales.

On the other hand, sales in the jewelry segment grew 11 per cent in January, as compared to the same month in 2019 and quick-service restaurants also witnessed a growth of 9 per cent.

ALSO READ: January retail sales restricted to 91 per cent of pre-pandemic levels: RAI

Kumar Rajagopalan, CEO, RAI, says, sales growth can be attributed to opening of retail businesses across the country till late hours in the evening.

However, Delhi and Haryana are still not allowing stores to be open till late, which is creating a big impact on businesses, Rajagopalan adds.

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Retail 17-02-2022

January retail sales restricted to 91 per cent of pre-pandemic levels: Retailers Association of India (RAI)

Future Lifestyle Fashions reported the third quarter FY22 results

15 February 2022, Mumbai:

Future Lifestyle Fashions Ltd (FLFL), which is owned by the Future Group, reduced its losses to Rs 112 crore ($14.9 million) in the third quarter of 2021, compared to a net loss of Rs 174 crore the previous year.

The company's revenue for the quarter increased by 32% to Rs 1,255 crore, up from Rs 950 crore in the previous fiscal year's similar period.

"Consumer confidence has risen in the recent quarter, and consumers have a good perspective for the future, although they are still concerned about inflation and expenditure."

Future Lifestyle Fashions - Index

"Various industries face a significant threat from inflation and growing raw material costs, as well as supply chain disruptions," FLFL warned in its quarterly analysis.

ALSO READ:

In the following quarters, the firm intends to focus on increasing traffic and ticket size through various marketing techniques, as well as launching new product categories to enhance revenue.

Future Lifestyle Fashions has 331 stores across all formats at the conclusion of the December quarter.

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*Figures mentioned in the above article have been sourced from ET Fashion Network article.

Retail 15-02-2022

Future Lifestyle Fashions reported the third quarter FY22 results

Mayasheel Retail India collaborates with Columbus shoes

19th February 2022, Mumbai:

Mayasheel Retail India has collaborated with Columbus Shoes to manufacture and wholesale distribution of its sports shoes in India.

The association will help Bazar India, a rapidly emerging pan-India retail chain by Mayasheet Retail India, gain a wider customer base, build the brand strong and increase the exposure and sales of its products.

Mayasheel - Home | Facebook

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Bazar India, in its first phase, will expand its retail presence in India via iconic footwear range launching in 55 operational stores with an area spread across 4.6 Lakh Sq. Ft. covering 51 cities, while giving a total retail space of 27,500 sq. ft. to Columbus on pan-India basis.

The stores network is spread to 13 states in India including prime states such as Bihar, Uttar Pradesh, Uttrakhand, Jharkhand,, Odisha, Madhya Pradesh, Haryana, and the North-Eastern part of the country.

In the second phase, the company will expand its retail space across India via Columbus by launching a wide range of sports apparel/ activewear and accessories, in 55 operational stores along with 20 new stores by the end of FY23 on a PAN basis offering sports footwear to their customers at low-end/fair prices.

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Retail 19-02-2022

Mayasheel Retail India collaborates with Columbus shoes

RedSeer report: Digital-first brands by 2030-$250 bn opportunity

17 February 2022, Mumbai:

Indian e-tailing segment grew to $53 billion in 2021, said a report by management consulting firm RedSeer.

With social commerce and video commerce revolutionising the e-commerce segment, digital-first brands have a $250 billion opportunity in front of them by 2030, said a recent report by management consulting firm RedSeer.

Optimizing digital customer experiences to deliver “light” in #IgniteMoments - Deepcrawl

According to the company, online retail has grown sustainably during the pandemic and made inroads into small towns.

“India's e-tailing GMV (gross merchandise value) reached $53 billion in 2021, demonstrating post-COVID acceleration,” said the report.

ALSO READ Virtual Fashion.Tech: Innovative and engaging Metaverse Networking Platform

As per the report, India will be adding hundreds of millions of new online shoppers in the next few years, primarily from a low-income consumer group in small towns.

“To address the needs of this set of consumers, social and video commerce is creating a new retail channel for an aspirational new India; this is already supported by over $1 billion funding in 2021,” it said.

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*Figures mentioned in the above article have been sourced from Money Control article.

Retail 17-02-2022

RedSeer report: Digital-first brands by 2030-$250 bn opportunity

Flipkart owned by Walmart: Rides on live commerce bandwagon

14 February 2022, Mumbai:

Homegrown ecommerce company Flipkart, majority owned by US-based retail behemoth Walmart, has joined the live commerce bandwagon, in what marks the entry of one of the largest e-tailers experimenting with the medium.

Flipkart is betting big on live commerce and also actively conducting live shopping streams on its app with social media influencers.

Flipkart Group acquires Walmart India to promote wholesale business

ALSO READ: Flipkart is a firm believer in real-time transactions

It has also created a 'feed' -- similar to the one on photo and video sharing application Instagram - on its platform where prominent influencers can be seen showcasing various fashion wear that can be bought directly from the feed, according to ET's review.

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*Figures mentioned in the above article have been sourced from ET article.

Retail 14-02-2022

Flipkart owned by Walmart: Rides on live commerce bandwagon

Myntra: Partners with sportswear brand New Balance

18 February 2022, Mumbai:

Myntra has launched a new global sportswear brand-New Balance, on its platform. The brand offers products that blend function with fashion for everyday use and also athletic purposes.

On Myntra, it will host a range of products from footwear to apparels, bags and sports accessories for both men and women. The range will include the Vazee range of sneakers, inspired by marathons in the 1910s.

The brand will offer 50+ SKUs, which will be increased to 100+ in the upcoming months.

Myntra Engineering – Medium

Sharon Pais, Chief Business Officer, Myntra says, New Balance’s partnership with Myntra will open up the domestic sports and fitness market for the brand.

ALSO READ: Myntra organizes 2nd edition of 'Kurta and Saree Festival'

It will also offer Myntra’s customers a leading brand in global sports and fitness domain.

The brand will have a high visibility on the Myntra app besides a substantial presence on Myntra’s social and liver commerce platforms, Myntra Studio and M- Live.

In addition, the brand also has a dedicated store on M-Mall for shoppers to seamlessly browse through its large collection of styles and designs.

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Retail 18-02-2022

Lulu Group to invest to set up food park in Kerala

16 February 2022, Mumbai:

UAE-based Lulu Group has announced the launch of a food processing centre in Kerala. The chairman of Lulu Group, M A Yusuff Ali said that Lulu Food Park estimated at Rs 400 crore will be established in Kalamassery in Ernakulam.

He announced the new project while attending the International Food Exhibition, Gulfood'22, held in Dubai World Trade Centre.

Yusuf Ali, lulu group

The centre will be functional within 18 months. Around 250 people will be given employment opportunities. Once both phases of the project are completed, more people will be employed.

ALSO READ: LuLu Group, UAE J&K government & signed a Memorandum of Understanding (MOU)

The construction procedure of the food park is scheduled to start soon. The seafood products processing and export centre in Aroor will start functioning by the end of March. The group invested an amount of Rs 150 crore.

M A Yusuff Ali informed that the Lulu group is implementing projects with a net worth of Rs 1500 crore in the food processing industry in India. He also unveiled many food products imported from different countries relating to Gulfood.

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*Figures mentioned in the above article have been sourced from Mathrubhumi article.

Retail 16-02-2022

Lulu Group to invest to set up food park in Kerala

Amazon India signs deal for warehouse space

14 February 2022, Mumbai:

An affiliate of e-commerce major Amazon India has signed on 2.5 million sq ft of warehouse space in the last four months across Mumbai, Hyderabad, and Bengaluru to ramp up operations in the country.

ALSO READ: Amazon's total product exports from India have surpassed $3 billion

The US-based e-commerce firm is also in talks with Blackstone Group's logistics development platform, Horizon Industrial Parks, to lease half a million sq ft of warehouse space in Delhi and Alipore.

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*Figures mentioned in the above article have been sourced from ET article.

Retail 14-02-2022

Amazon India signs deal for warehouse space

Brands unhappy over switch to full rentals

18 February 2022, Mumbai:

Brands are unhappy that malls in India is once again switching to full rental models.

Around 85 percent of tenants are paying full rents in February, says Nirupa Shankar, Executive Director, Brigade Group, operator of three malls in Bengaluru.

Does the American Shopping Mall Have a Future? - Context | AB

Terming the decision unfortunate, Zorawar Kalra, Managing Director, Massive Restaurants, the operator of Masala Library and Farzi Café, says many restaurants and bars are still operating at 50 percent capacity.

ALSO READ ICRA: Omicron to lead to 20% decline in mall rentals in Q4FY2022

Hence, they should not be charged rentals on full occupancy basis. Priyank Sukhija, Promoter, First Fiddle F&B, which operates brands such as Lord of the Drinks and Warehouse, adds, it would have been fine to pay fill rental if we had been allowed to operate without restrictions. However, operations are still restricted to 50 percent capacity.

Mall footfalls in many cities halved in December and January as the third COVID- 19 wave hit India.

However, footfalls have recovered to about 70 percent of pre-pandemic levels are expected to rebound fully in the next one month, says Ashish Dikshit, Managing Director, Aditya Birla Fashion and Retail.

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Retail 18-02-2022

Brands unhappy over switch to full rentals

Future Retail's Q3 FY22 results

15 February 2022, Mumbai:

Future Retail Ltd (FRL) on Monday reported the widening of its consolidated net loss to Rs 1,063.36 crore for the third quarter ended on December 31, 2021.

Future Retail Ltd (FRL) on Monday reported the widening of its consolidated net loss to Rs 1,063.36 crore for the third quarter ended on December 31, 2021.

The company had posted a net loss of Rs 846.92 crore in the corresponding quarter last year, FRL said in a BSE filing.

ALSO READ: Future Lifestyle Fashions reported the third quarter FY22 results

Its total income in October-December 2021 jumped 86.85 per cent to Rs 2,815.68 crore, against Rs 1,506.87 crore in the year-ago period.

Total expenses of FRL, which operates retail stores as BigBazaar, fbb, Foodhall, Easyday and Nilgiris, stood at Rs 3,890.02 crore, a 62.66 per cent jump as against Rs 2,391.43 crore.

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*Figures mentioned in the above article have been sourced from Business Standard ET Money control article.

Retail 15-02-2022

Future Lifestyle Fashions posts Q3FY22 results

14 February 2022, Mumbai:

Future Lifestyle Fashions Limited has reported Consolidated financial results for the period ended December 31, 2021.

Financial Results (Q3 FY2022) - QoQ Comparison The company has reported total income of Rs. 1270.30 crores during the period ended December 31, 2021 as compared to Rs. 842.86 crores during the period ended September 30, 2021.

Future Lifestyle Fashions Limited, Jogeshwari East - Readymade Garment Retailers in Mumbai - Justdial

The company has posted net profit / (loss) of Rs. -111.67 crores for the period ended December 31, 2021 as against net profit / (loss) of Rs. -209.22 crores for the period ended September 30, 2021.

ALSO READ: Future Group looks at Selling its Stake in Insurance JV to Italian Partner

The company has reported EPS of Rs. -5.52 for the period ended December 31, 2021 as compared to Rs. -10.35 for the period ended September 30, 2021.

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*Figures mentioned in the above article have been sourced from Equity Bulls ET Money Control article.

Retail 14-02-2022