2nd October 2021, Mumbai:

V-Mart Retail has opened five new stores in the states of Rajasthan, Tripura, West Bengal, Odisha, and Bihar.

As per an India Infoline report, the company’s total store count now stands at 368 stores as of September 30, 2021. The company retails readymade garments, accessories, etc., and is engaged in the business of value retailing through the chain of stores situated in various cities in India. The company operates its retail stores under the V-Mart brand.

Founded in 2002, V-Mart is a complete family retail store chain offering apparel, footwear, and accessories for men, women and kids. The company also offers a wide range of home furnishings, general merchandise, toys, tableware, utensils, and other home utility items.

It operates medium-sized hypermarket format retail stores. In 2018, it was adjudged the world’s best performing departmental store, as per data compiled by Bloomberg. In 2019, the company was bestowed with the 'Transforming India Through Retail' award for ‘Transforming lives in Tier II and III cities' by the Ministry of Textiles, Government of India.

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25th September 2021, Mumbai:

Amazon has spent Rs 450 crore ($61 million) in the Indian market to bolster its payments business Amazon Pay.

The business had already raised Rs 225 crore through a Singapore subsidiary in May.

The current investment brings Amazon Pay's total capital infusion this year to Rs 900 crore. Amazon plans to use the capital to expand its payments operation in the nation and to attract new consumers by offering cashback and other incentives.

According to regulatory papers filed with the Ministry of Corporate Affairs and obtained by business intelligence platform Tofler, Amazon Pay (India) has allocated 45 crore equity shares worth Rs 450 crore to Amazon Corporate Holdings Pvt Ltd and Amazon.com.incs Ltd.

Amazon Corporate Holdings Pvt Ltd received 449,955,036 equity shares, while Amazon.com.incs Limited received 44,964 equity shares, according to the filing.

On September 17, 2021, the shares were distributed. Amazon sees a lot of promise in India's digital payments market and has been investing heavily to keep up with competitors like PhonePe, Google Pay, and Paytm, among others.

During the next Christmas season, the new investment is likely to help the company compete with rival Flipkart.

As a result of the coronavirus outbreak, consumers have grown increasingly reliant on e-commerce to purchase everything from essentials to holiday presents, and Amazon Pay is rapidly extending its footprint in the Indian market.

Amazon is attempting to grow into a number of industries in the United States, including insurance, wealth management, and credit via Amazon Pay.

In order to deepen its footing in the Indian market, Amazon has been investing millions of dollars across several businesses, including the marketplace, wholesale, and payments divisions.

Last year, the e-commerce behemoth invested Rs 700 crore in its Indian payments arm, with Amazon Pay allotting 700,100,000 equity shares worth Rs 700.1 crore on a rights basis to current shareholders.

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22nd September 2021, Mumbai:

To meet growing demand during for festive season, sellers on Amazon plan to not just launch new products but also invest in seasonal hiring, says a new Neilsen study. It states, 28 per cent sellers plan to launch new products while 40 per cent plan to expand business.

The study was conducted amongst 1,965 sellers registered on Amazon.in from 21 cities across India, including metros, Hyderabad, Bengaluru, Kochi, Patna, Jaipur, Rajkot, Mysore, Guwahati and Vizag. Around 86 per cent of sellers said they expect sales increase this year compared to last year, with over 50 per cent expecting at least 25 per cent growth.

Almost 31 percent sellers said they plan to make additional investments this festive season to achieve their business goals. Around 35 percent expressed interest in investing in seasonal hiring to meet the increase in demand, and 45 percent said they plan to invest in training of personnel.

Around 36 per cent also have plans to invest in boosting their inventory and warehousing. Amazon continues to prioritize efforts to enable sellers to bounce back from the economic disruption caused by the pandemic and accelerate business growth, says Sumit Sahay, Director-Selling Partner Services, Amazon India.

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2nd October 2021, Mumbai:

Reliance Industries’ retail arm, Reliance Retail Ventures (RRVL) has extended the deadline for concluding the Rs 24,713 crore deal with the Future Group to March 31, 2021.

Earlier, RRVL had extended the deadline for the Long Stop Date from March 31, 2021, to September 30, 2021.

Longstop is an established practice in mergers and acquisition transaction in which parties agree on which all the conditions needed to complete a transaction.

Last week, the National Company Law Tribunal (NCLT) had allowed Future Group firms to hold meetings of their shareholders and creditors to seek approval for the sale of assets to RRVL.

The arrangement between Future and Reliance Retail includes the merging of Future Group's retail, wholesale, logistics, and warehousing assets into one entity -- Future Enterprises -- and then transferring it to Reliance Retail.

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25th September 2021, Mumbai:

India's leading fashion destination for the latest trends, Lifestyle has launched its Pujo Collection with ensembles curated by celebrity and style icon Mimi Chakraborty.

With contemporary designs and styles, the collection includes women's kurtas from Rs. 499 and men's kurtas from Rs. 799 and more. c The festive range has been curated to cater to this mindset.

For women, modern silhouettes and trends like layered kurtas, coordinates sets have been complemented with breathable fabrics to create stunning pieces. For men, the ethnic wear category is led by festive kurtas and jackets in natural fabrics along with traditional embroideries that captures the essence of Pujo.

The Pujo collection is aimed at celebrating special occasions in style. Whether it's a get-together with the family or a fun evening with friends, the collection promises to capture the vibe of the festive season with vibrant colours, gorgeous embroideries, modern silhouettes, festive prints and more.

The delightful price points only make it more desirable as customers find something unique for every occasion.

Lifestyle is also offering an exclusive offer to allow shoppers to make the most of the collection at great value - customers shopping for Rs. 6,000 can get a Prestige Barbeque worth Rs. 2,395 at Rs. 1,299 only.

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22nd September 2021, Mumbai:

Ace investor Rakesh Jhunjhunwala has offloaded additional 0.44 per cent equity stake in textiles and garments manufacturer Mandhana Retail Ventures. Jhunjhunwala sold additional 98,094 equity shares in the company (or 0.44 percent stake) and reduced his shareholding to 10.32 percent from 10.77 percent earlier. From last disclosure till September 16, Jhunjhunwala reduced holding by 4,34,403 equity shares which is 1.9672 per cent.

Further on September 17 and 20, he sold 98,094 equity shares, resulting in a change of 2.4114 per cent of the Mandhana Retail Ventures. This takes his total shareholding to 2,280,777 equity shares which is 10.3284 percent of total paid up equity of the company.

Rakesh Jhunjhunwala is the Chairman of Aptech Limited and Hungama Digital Media Entertainment and sits on the board of directors of Prime Focus, Geojit Financial Services, Bilcare Limited, Praj Industries, Provogue India, Concord Biotech, Innovasynth Technologies (I) Mid Day Multimedia, Nagarjuna Construction Company, Viceroy Hotels and Tops Security.

He is popularly referred to as the ‘Warren Buffett of India’ and the ‘King of Bull Market.’

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01 October 2021, Mumbai:

The H&M Group plans to launch its operations in five new markets in 2022. These include Ecudaor, North Macedonia and Kosova and via franchise in Costa Rica and Cambodia. The group’s bet sales in the third quarter 2021 increased by 14 percent compared with the corresponding period last year.

Converted into SEK net sales increased to SEK 55,585 million. At the start of the quarter around 180 stores were temporarily closed and at the end around 100 stores remained closed.

The group’s online sales increased by 22 percent in local currencies and 17 percent in SEK. Its gross profit increased by 19 percent to SEK 29,559 million. This corresponds to a gross margin of 53.2 percent.

Profit after financial items increased by 158 percent to SEK 6,093 million. Its operating margin increased by 11.3 percent; profit after tax increased to SEK 4,692 million, corresponding to SEK 2.83 (1.10) per share.

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24th September 2021, Mumbai:

Bollywood actress Shanaya Kapoor has been chosen as the brand ambassador for designer label Ritu Kumar. In a series of digital advertisements, Kapoor will be seen supporting the brand's current collections.

“Shanaya's strong, cheerful attitude is contagious on the screen,” Amrish Kumar, managing and creative director at Ritu Kumar, said in a statement about the actor.

She has a terrific sense of style and is an excellent dancer, making her the ideal face for the Ritu Kumar label.”

“Label Ritu Kumar is the pinnacle of being spontaneous & fashionable combined with a little fun and embraces my edgy but carefree attitude really well,”

Shanaya Kapoor said of the collaboration. It's all about feeling at ease in your own skin, and that's what I value the most. I'm really grateful and ecstatic to be the brand's face.” This season, the company intends to broaden its appeal by introducing new categories and designs aimed at young urban Indian women.

The new collections will be available at Label Ritu Kumar shops and online in India and worldwide.

Ritu Kumar established her namesake label in 1969 and is recognised for her support of Indian traditional textiles. Kumar is the founder of the Ritu Kumar, Label Ritu Kumar, Ri Ritu Kumar, and Ritu Kumar Home brands.

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30th September 2021, Mumbai:

The National Company Law Tribunal (NCLT) has permitted Kishore Biyani-led Future Group to seek approval for the sale of assets to Reliance Retail from creditors and stakeholders.

A Mumbai-based two-member NCLT bench comprising Suchitra Kanuparthi and Chandra Bhan Singh dismissed the application filed by e-commerce major Amazon opposing the scheme of merger of the Future group companies. The NCLT dismissed Amazon's application on the ground that it was premature, sources said.

Now, Future Group can obtain all preparatory approvals from shareholders and creditors. This will enable the group to save at least 6-9 months' time for the implementation of the scheme in the scenario of it winning the arbitration, the sources added. Reliance Retail Ventures announced plans to acquire the retail, wholesale, logistics, and warehousing business of Future Group in August last year.

The deal worth Rs 24,713 crore has been contested by Amazon, an investor in Future Coupons that in turn is a shareholder in Future Retail.

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24th September 2021, Mumbai:

Major apparel and fabrics brand Raymond has launched a collection of shirting fabrics and customized shirts titled ’Vibez’ in collaboration with designer Suket Dhir. The collection offers seven distinctive prints – watercolor washes, swirling paisley, bold abstract, tie-n-dye, checkerboard, deep with indigo, and tribal prints.

It is multi-utilitarian, versatile, cool, and trendy.

Playing around fabrics in a classic-Suket Dhir style the collection demonstrates the way clothes change the entire atmosphere around the periosn wearing it, says Dhir. The collection is available at all Raymond shops, multi-brand outlets, and e-commerce platforms across India.

Owner of the eponymous brand designer Suket Dhir emphasizes on the importance of playful fabrics and minute details. His design philosophy embodies leisure in all forms. He celebrates his dreamy wanderings by redefining the fabrics in his collections.

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21st September 2021, Mumbai: 

Amazon has announced this year’s ‘Great Indian Festival’ sale with discounts on over 20 lakh products. The sale will go live around the festive season in India this year. It will offers users 0 per cent instant discount on purchases from partner bank HDFC’s credit and debit cards, and EMI payments from HDFC Bank.

Users will also be able to avail no-cost EMI on their Debit and Credit cards via Bajaj Finserv for up to Rs 1 lakh. The sale will include deals on mobiles and accessories, electronics, gaming, toys, TVs, appliances, Amazon Echo/Kindle/Fire TV products, fashion, etc. Like every year, the sale will start earlier for Amazon Prime subscribers, as compared to non-prime users.

Walmart owned e-commerce giant Flipkart also announced its Big Billion Days sale recently. Dates for both the sales have not been announced yet, but as in previous cases, they are expected to clash with each other.

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