11th September 2021, Mumbai:

The opening of 'Avantra by Trends,' an exclusive saree and ethnic clothing concept shop developed especially for women, has been announced by Reliance Retail.

According to a press statement from the firm, the main store here is 9,500 square feet. 'Avantra by Trends' is a unique idea created just for the modern Indian lady between the ages of 25 and 40, who appreciates tradition, history, and legacy and celebrates all things 'Indian' and 'Ethnic,' according to the company.

The idea presently collaborates with more than 80 weavers, designers, artisans, master craftsmen, and manufacturers around the country, including 10 award-winning artists/Master craftsmen in 25 saree craft clusters in 11 states.

It is being positioned as the first pan-India brand that will extend into metros, Tier 1, Tier 2, and Tier 3 markets, with plans to open about 30 outlets across southern states by the end of the current financial year before moving into other regions, according to the statement.

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11th September 2021, Mumbai:

According to a top corporate executive, ASICS intends to add 18 outlets to its sales network in 2022, expanding its footprints in India even further and achieving value-based growth of up to 25% by that time.

Under the present FDI policy in retail, the business, which has already begun domestic manufacture of several of its items, expects to satisfy 30% of local sourcing criteria. Aside from that, ASICS is increasing its product selection and anticipates e-commerce to contribute about 40% of sales, a market that has seen rapid development since the epidemic.

ASICS India Managing Director Rajat Khurana stated that the company's aim is to "intensify its presence on e-commerce platforms while also increasing its business through its network of retail outlets." "We intend to establish 15-18 retail locations in 2022," Khurana told PTI, adding that the majority of the stores will be in non-metro tier-II and tier-III areas. ASICS now maintains a franchise network of 55 shops across the country.

The company's apparels business has recently increased in scope, and its contribution to the overall business is increasing. "By value, we expect the business to expand 20-25 percent in 2022," he added.

In addition, the firm is increasing its reach on e-commerce platforms, which have seen rapid development as a result of a shift in customer behavior during the epidemic, according to Khurana. "In the last two years, e-commerce has been a growth engine for us," he added, adding that by 2021, e-commerce would account for 40% of ASIC's revenues. He noted that internet sales accounted for about 20% of ASIC sales in 2019.

"Both channels (retail and internet) must expand at the same time. E-commerce would be accompanied by a retail growth strategy. Both networks have a distinct target audience "Added he. ASICS is now having its entry-level footwear, school shoes, and clothing made in the United States.

"We want to hit this in the next 2-3 years," Khurana said when asked when it will meet the mandated 30% local sourcing barrier. "We have the appropriate infrastructure here, and if everything goes well, we'll be able to execute it in the next couple of years," he continued. ASICS' sales network would thereafter be made up of a combination of company-owned, company-operated, and franchise outlets, according to Khurana.

On Thursday, ASICS also revealed their commitment to developing future wrestling talent in India. The Japanese sports giant will seek to bolster its focus on the sport of wrestling by providing young athletes with cutting-edge gear and footwear. Bajrang Punia, a bronze medallist in the Tokyo Olympics, spoke about his experience with the company.

ASICS, a prominent designer and producer of running shoes, athletic and sport-style footwear, clothing, and accessories, was founded in 1949.

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7th September 2021, Mumbai:

According to a press release, Shoppers Stop, a fashion and beauty store, has partnered with Accenture to drive its digital commerce transformation across different retail channels.

“As we strive to meet and surpass our consumers' growing requirements and expectations, omnichannel commerce has been a major emphasis area for us. Over the next three years, we want to achieve significant profitable growth in our digital commerce revenues,” stated Venu Nair, MD, and CEO of Shoppers Stop.

The firm said it is bolstering its digital platform with real-time data and analytics throughout the value chain, from customer experience to supply chain operations to sales and last-mile deliveries, with the support of Accenture.

“The retail sector must continuously reset in order to remain relevant in the face of shifting customer expectations and to offer engaging and delightful experiences. This scalable digital commerce transformation initiative will enable Shoppers Stop to adapt to evolving customer requirements and capitalize on new market opportunities,” said Sameer Amte, Managing Director of Accenture's retail business in India.

Shoppers Stop has been moving from a brick-and-mortar to an omnichannel store, offering a shopping experience via WhatsApp, its website, and its application, according to the company.

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15th September 2021, Mumbai:

With the opening of 100 new stores this year, Popees, a major children's apparel company, plans to increase its retail footprint across the country.

The firm will concentrate on expanding in the south Indian market, both via its own stores and through franchisees. Later this year, it intends to expand into the international market by adding outlets in London and Manchester.

“The brand has 32 exclusive locations in south India, in addition to hundreds of multi-brand outlets carrying its products,” Popees managing director Shaju Thomas said in a statement. 

We opened 25 of these 32 locations since the Covid epidemic, and despite the lingering pandemic, the performance and prospects of these locations were quite good, prompting us to embark on this retail growth spree.” “Popees also aims to increase the number of exclusive stores to more than 100 this year, with a goal of 500 in five years.

We want to reach Rs 1,000 crore ($136 million) in five years,” Thomas remarked. Popees presently has three factories that manufacture approximately 5 lakh garments each month across a variety of categories. Amazon, Flipkart, and Ajio are just a few of the main e-commerce sites where the company sells.

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11th September 2021, Mumbai:

Suumaya Industries, an ethnic garment maker, has purchased a minority share in Nysaa Retail, the business behind 1-India Family Mart. Suumaya now has access to India Family Mart's retail network.

Suumaya Industries has purchased a 1% stake in 1-India Family Mart in a deal for about Rs 5 crore ($752,000). A source close to the situation told ET Bureau that the agreement valued the business at about Rs 500 crore.

According to one of ET Bureau's sources, Suumaya Industries' clothes will become more prominent in the store chain's product range as a result of the transaction, and the company will assist 1-India Family Mart with its private label brand offers in the ethnic wear category.

Many of 1-India Family Mart's locations are in Tier 3 and Tier 4 towns, serving a more rural clientele. The shop network specializes in low-cost items and sells ethnic and western clothing, accessories, homeware, footwear, and lifestyle items, among other things.

1-India Family Mart has a large foothold in India's rural value-shopping sector and is backed by private equity firm Carpediem Capital. Suumaya is a Bombay Stock Exchange-listed company that produces women's ethnic clothing for both the general public and its own branded shops.

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06 September 2021, Mumbai:

Reliance Retail readies to launch a retail chain of stores under the brand name 'Avantra'. This comes on the back of the fact that festivity and wedding season is already upon us, contemplating this brick-and-mortar chain positioning more on the lines of mid-size stores & priced in the economy range for the mass outreach the signature of this retail behemoth. 

Doesn't come as a surprise as this burgeoning segment has already seen big ticket foray of Tanishq, predominately a jewellery brand, entering into the ethnic wear space. Aditya Birla’s (ABFRL), too, has started to take this sector more seriously by buying up serious stakes in famed designer wear labels likes of 'Sabyasachi' and 'Tarun Tahiliani' to drive point home.

Avantra true to 'Reliance Retail' DNA will go all guns blazing such as selling private labels in sarees and ethnic wear, partner with regional weaver clusters to push the existing boundaries.

Women’s ethnic wear market is set to grow in pre-teens % (percentage) annually.

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10th September 2021, Mumbai:

As a relief for Biyani as three judge-bench led by CJI asks NCLT, CCI, and Sebi not to pass any final order in relation to the dispute for four weeks. They handed the above order in a special leave petition filed by Future Coupons and FRL.

(SC) on Thursday stayed the proceedings initiated by e-commerce firm Amazon India for SIAC emergency arbitrator's award in a SIAC arbitration to halt the $3.4-billion merger deal between Future Retail (FRL) and Reliance Retail.

Amazon has always pleaded that its non-compete settlement with the Biyani-led chain. So in short “Nothing can occur in coming 4 weeks". As per industry reports the closure of the corporate confronts a threat of over 29,000 job losses.

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