26th October 2021, Mumbai:

ShopClues witnessed a 120 percent demand surge for Made in India products, compared to last year. The Gurugram-based e-commerce platform is expecting a huge festive rush this year.

In order to meet the needs of customers, it has expanded its range of merchandise and partnered with several local vendors whose diverse products add much value to the platform.

Catering to festive demand, the company has expanded inventory on its platform to more than four crore products sold by over 7.5 lakh vendors. In addition to products from regional and global vendors, brands such as Toshiba, Lenovo, HP, Catwalk, Puma, Boat, Beardo, Bajaj, Phillips, Portronics, etc will also be a part of the festive sale.

ShopClues currently sells fashion, home decor, and electronic goods in 31,500 pin codes across India. There are stores in UP and West Bengal. The strategy behind opening offline stores is to address local needs with local products and in the local language.

The idea is to have an omnichannel presence, especially in Tier II and III locations where buyers still have a preference for brick-and-mortar stores. Shopclues expects offline to contribute 15 percent to its overall orders for the ongoing fiscal.

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28th October 2021, Mumbai:

The Lee Cooper journey began in 1908 as Europe's first, authentic denim brand. Born in the East End of London, Morris Cooper established a workwear production company called The Morris Cooper Factory.

A joint venture (JV) between Reliance Brands and Iconix Lifestyle India (The Iconix Brand Group), has bought the (IPRs) 'Indian Intellectual Property Rights' of famed the Great Britain denim wear label Lee Cooper as a part of buying spree Reliance Retail has currently unleashed.

It is interesting to mention here that," Erstwhile the rights of 'distribution and producing goods in India' was with the Future Lifestyle Fashions & Future Group company owing Popular retail chains "Central and Brand Factory".

The other high-profile investments of Reliance in recent times include picking up significant stakes in couture brands-Ritu Kumar and Manish Malhotra Group besides entering into an agreement seeking Future Lifestyle Fashions (FRL) deal from the latter for a business consideration of Rs 24,700 crores.

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Shoppers Stop omni-channel sales doubled year on year and contributed eight per cent of total sales in the second quarter. The company aims at adding 10 department stores and 10 home and beauty stores over the next 18 months. As of September ’21, it had 80 department stores, 11 Home Shops, 127 beauty stores, 23 airport doors, taking the total store count to 241 spread across 44 cities. Shoppers Stop witnessed progressive growth in August ’21 and September ’21 with sales growing 140 per cent and 66 per cent respectively. With all stores fully operational, festive sales are now at pre-Covid levels aided by recovery of 100 per cent in the east, followed by the north.

There has been improvement in key strategic pillars, First Citizen (FC) customers contributed 75 per cent to sales in the second quarter. Personal Shoppers contributed 13 per cent sales. Private labels grew 90 per cent year on year and were 14 per cent of sales owing to 59 per cent volume growth while the beauty portfolio contributed 17 per cent to sales. The board of directors had accorded their approval for sale of 100 per cent equity shares in four tranches, held by Shoppers Stop in Crossword. On October 11, '21, the company completed the first tranche of the stake sale of 51 per cent.

09 November 2021, Mumbai:

The National Company Law Tribunal (NCLT) on Monday temporarily put on hold Future Retail's (FRL's) shareholder meeting for its proposed sale of assets to Reliance Retail after US retailer Amazon objected to it. citing a Supreme Court order.

This means further delay for the cash-strapped Big Bazaar parent Future Group, which had announced the sale of its assets to Reliance Retail for Rs 24,700 crore. Subsequently, FRL on Monday filed a special leave petition before the Supreme Court urging it to put on hold the Singapore International Arbitration Centre's (SIAC) ruling that has stalled the deal, according to regulatory filings.

Initially, slated to be held on November 10 and 11, FRL's shareholder meeting was deferred to a later date this month after FRL approached the NCLT for the same. In September, the NCLT had allowed FRL to hold the meetings.

TOI

(The news article has not been edited by DFU Publications staff)

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2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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Iconic British brand Marks & Spencer has come up with a festive collection that is an India exclusive, fusion collection. Designed in response to increasing desire among customers for chic outfits, the latest collections is for occasions or can be paired with daily wear.

Evening wear for Indian men from M&S is a sartorial treat. Some pieces like the bandhgala and bandi jackets help make dressing up for any occasion easy. A fashion show by the brand tossed up must-have pieces like elevated flowing dresses, chic pant suits, beautiful tops on female models. Neha Dhupia the show stopper wore a deep green embroidered round neck dress with contrast color paisley print. Male models wore opulent velvet bandhgalas, dinner jackets, waistcoats, premium shirts in rich satin and ornate prints, exquisitely tailored trousers and top-notch polo T-shirts. The presentation also showcased a combination of smart autumn/winter, loungewear and festive fare, as a part of this special celebratory fashion repertoire.

Marks & Spencer is changing its strategy to cater to the millennial Indian crowd. Starting price points have become affordable. While the clothes are being designed in the UK, the retailer has shifted most of the sourcing to India and Bangladesh.

08 November 2021, Mumbai:

Independent directors of Future Retail NSE-0.10% (FRL) said Amazon is in violation of foreign exchange rules since the Singapore arbitral tribunal has made FRL a party to the arbitration proceedings.

In a letter to the stock exchange, independent directors said Amazon has also concealed facts, made Popular in Ind misrepresentations and false representations to the Competition Commission of India to seek approval for its investment in Future Coupons, a promoter holding company.

The assertions of Amazon which it has claimed with success in the arbitral tribunal meant Amazon has significant strategic rights over FRL superior to all the shareholders, lenders, and creditors of FRL, without holding even a single share in FRL. ET

(The news article has not been edited by DFU Publications staff)

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.  

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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 27th October 2021, Mumbai:

Snapdeal is likely to file its draft red herring proposal in the next few months. Over the last three-four years, Snapdeal has worked on becoming India's leading value e-commerce platform, helping Indian e-commerce grow beyond just brands and urban users.

Nearly 80 percent of Snapdeal’s users come from non-metro locations highlighting its deep reach across the length and breadth of the country.

Snapdeal hosts a wide selection of good quality, value-priced merchandise across fashion, home, beauty and personal care, general merchandise, and other categories. As a part of its efforts to deepen the availability of value merchandise online, Snapdeal has in the last year added more than 5,000 manufacturer-sellers on its platform.

The growing number of value-conscious online shoppers is reshaping India’s e-commerce landscape. Value-conscious online buyers focus on finding affordable products that meet their needs for desirable quality, durability, and trendiness.

Most manufacturer-sellers are from hubs like Meerut, Ludhiana, Tirupur, Jaipur, Panipat, Surat, and Rajkot covering popular products like juicers, food processors, steel and copper utensils, crockery, bed linen, fashion accessories, kids’ wear, sari and suits, casual apparel, and fitness equipment.

The amount raised through IPOs in India so far in 2021 has already surpassed the total gathered in the last three years.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage