08 December 2021, Mumbai:

A bench comprising Chief Justice NV Ramana and Justices AS Bopanna and Hima Kohli asked the lawyers for both sides to file compact versions of documents, so it is easier for the court to dispose of the matters.

The Supreme Court today adjourned a hearing of various cases involving Amazon and Future Group as the written submission of the two companies were made too late for the judges to read before the arguments began.

"Purpose of our last direction was that you circulate (the notes) so we can read earlier. At 10 pm I got this FRL's arguments and morning we received other party's." Chief Justice NV Ramana said. ch comprising Chief Justice NV Ramana and Justices AS Bopanna and Hima Kohli asked the lawyers for both sides to file compact versions of documents, so it is easier for the court to dispose of the matters.

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

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DAILY NEWS:

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

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

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

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

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

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The city store in Worli is part of Ikea’s efforts to build smaller format stores in the middle of large bustling cities.

Swedish retailer Ikea will open its maiden city store in the country in Worli, Mumbai, on 9 December, the retailer said on Thursday. When the corporation shut down its operations in Ranchi, about 5,000 people lost their employment.

The city store in Worli is part of Ikea’s efforts to build smaller format stores in the middle of large bustling cities. The Worli store, for instance, is 80,000 sq ft; in contrast, Ikea's typical big box store is spread between 400,000-500,000 sq ft.

“The city store format allows Ikea to be adapted to smaller spaces in an urban context and makes it more convenient for the many customers to experience the Ikea offers. Consumers will be able to shop the entire Ikea range based on a well-integrated digital and physical shopping experience," it said in a statement.

MINT (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.

DAILY NEWS:

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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10 December 2021, Mumbai:

Retail malls in India are expected to witness recovery up to 75 percent of pre-Covid rentals in the current financial year, says rating agency ICRA.

Malls have witnessed a faster recovery after the second wave of the pandemic, compared to the first wave, driven by faster relaxation in the restrictions and improved vaccination coverage.

With the easing of restrictions, along with a decline in the fresh Covid infections, there was a gradual improvement in operational metrics and rent income for mall operators in the second half of 2020-21 before the second wave in April 2021 again led to the closure of malls for about two months due to state wise restrictions.

Recovery of retail malls was sharper since August 2021 and the trajectory is expected to sustain driven by pent-up demand, high vaccination coverage, and the resumption of multiplexes which also coincided with the festive season.

While footfalls remain significantly lower than those in pre-Covid levels, the average spend per footfall improved drastically since the pandemic indicating the fact that only serious buyers are visiting malls now.

Store categories such as hypermarkets, electronics, and fashion and beauty have done well with certain brands even exceeding pre-Covid sales.

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.

DAILY NEWS:

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

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

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

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

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

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08 December 2021, Mumbai:

Ethnic wear brand Meena Bazaar is now on Myntra. Myntra’s aim is to bolster its ethnic wear offerings, create a strong impression in the minds of shoppers about Myntra and its fashion proposition.

Meena Bazaar made its debut on the platform with a selection of 350 premium women’s wear products including saris and lehengas and its collection will be expanded to feature 700 products in the coming two months.

The brand targets millennial and Gen Z shoppers. Meena Bazaar sees this alliance with Myntra as an opportunity for various customers to experience the brand who are currently unable to. From a product perspective, a number of products unavailable offline will be available on Myntra.

Meena Bazaar was originally founded in 1970 with a small boutique and now retails its ethnic wear internationally. The brand has 70 stores across India and retails in 45 countries.

Online multi-brand fashion retailer Myntra continues to be the destination of choice for leading brands to extend their offering to fashion-forward customers across the country. Customer convenience is enhanced by avoiding the current pollution levels, travel time, and costs associated with shopping offline.

Ethnic wear is a category with strong growth prospects and Myntra is betting big on this category. 

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.

DAILY NEWS:

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

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

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

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

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

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01 December 2021,  Mumbai:

Snapdeal plans to file preliminary documents for an initial public offering in the next few weeks. The plan is to raise at least $200 million at a $1.5 billion valuation. The e-commerce giant aims to go public in early 2022 after filing the draft red herring prospectus. It joins a growing list of startups preparing to tap capital markets as the nation’s digital economy booms and is hoping to replicate the strong showings of fellow online commerce firms. Snapdeal caters mainly to middle-class consumers.

Snapdeal is backed by SoftBank and Alibaba. Founded in 2010 Snapdeal is India’s leading value e-commerce platform that has over the years helped Indian e-commerce grow beyond just brands and urban users. Nearly 80 per cent of Snapdeal’s users come from non-metro locations highlighting its deep reach across the length and breadth of the country. It hosts a wide selection of good quality, value-priced merchandise across fashion, home, beauty and personal care, general merchandise, and other categories. With more than 200 million app installations, it is one of the top online shopping destinations in India. Snapdeal’s fashion sales grew by 210 per cent in the first six months of 2021. The growth was driven by users replenishing their wardrobe to meet work-from-home clothing needs.

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09 December 2021, Mumbai:

In a report, leading consulting firm Deloitte India stated that after the pandemic affected customer behaviors and caused a shift in-retailer offers, consumers and consumer goods companies in India are adopting a multi-channel approach.

According to the research 'ReWriting the Rules of New Retail,' the retail sector's future will be defined by a multi-channel approach in which online and physical channels will not only compete but also support one another.

In economies like India, the future of retail will be a mix of brick-and-mortar stores and online selling platforms, with both expected to flourish. Brands and retailers are recognizing the shift, and their strategies are being adjusted to reflect it. In particular, India's whole retail sector is valued at $883 billion, having tripled in the last decade. It currently employs 8% of the overall workforce, or 35 million people, and is predicted to produce 25 million additional employment by 2030.

The pandemic has resulted in long-term changes in consumer behavior. Although buyers returned to stores once the lockdowns were released, they are significantly more demanding when it comes to getting their hands on the things they want. This indicates that they are willing to switch platforms and shop across many channels.

As a result, retailers, particularly offline retailers, have had to adjust to the 'new normal,' developing new ways to engage with and reach their end customers, building new business models — including direct-to-consumer reach, and quickly enhancing their online presence while maintaining their offline stores and footprint, according to the report.

According to the report, "Retailers are addressing this quick shopping across numerous channels not only in stores but also upstream throughout the supply chain, which is undergoing a tremendous omnichannel transformation as well."

While it was previously thought that e-commerce would capture only a 5% to 6% share of overall retail sales, Rajat Wahi, Partner, Deloitte India, believes that by 2025, that percentage might be as high as 15%. It may play out differently for different categories, with fashion, gadgets, accessories, and books being more prominent online; but, scaling up online grocery will take time.

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.

DAILY NEWS:

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

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

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

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

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

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07 December 2021,  Mumbai:

FabIndia, a retailer of clothing and furniture inspired by traditional Indian crafts, plans to file preliminary documents for an initial public offering of as much as $500 million, according to people familiar with the matter.

The Delhi-based company, whose backers include PremjiInvest, the family office of Wipro Ltd. founder Azim Premji, aims to submit its so-called draft red herring prospectus as soon as early next year, the people said.

Its IPO will largely consist of investors selling existing shares, they said, asking not to be identified as the information is private.

FabIndia is considering seeking a valuation of about $2 billion, one of the people said.

Deliberations are ongoing and details of the listing such as size and timing could change, the people said. Representatives for FabIndia and PremjiInvest didn’t immediately respond to requests for comment.

Indian companies are pushing ahead with their IPO plans even after Paytm’s tumultuous listing -- which saw the firm behind the country’s biggest IPO plunge more than 35% in the first two days of trading -- challenged investors’ exuberance.

Star Health and Allied Insurance Co.’s IPO last week, the first large offering since Paytm’s debut, was trimmed after failing to get bids for all the shares on sale.

Founded in 1960 by John Bissell to showcase Indian hand-loom textiles to the world, Fabindia sources a large share of its products from villages across India, according to its website. The company connects more than 55,000 rural producers to urban markets, and runs its own school with nearly 500 students, the website shows.

BLOOMBERG (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.

DAILY NEWS:

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

30th November 2021, Mumbai:

Future Retail’s (FRL’s) losses widened in the July-September quarter to Rs 1,117 crore ($149.2 million), as compared with a loss of Rs 692 crore in the corresponding quarter a year ago.

However, the retailer’s revenue was up by 66 percent in the quarter at Rs 2,369 crore. The company’s overall expenses in the quarter were up 60 percent at Rs 3,500 crore.

The company also reported an operating loss of Rs 339 crore, as compared with an operating profit of Rs 47 crore in the year-ago quarter. Future Retail, India's second-largest retailer with more than 1,700 stores is currently embroiled in a legal battle with Amazon.

The company had agreed last year to sell retail and other operations to India's biggest retail group Reliance Industries. However, Amazon had argued that its own deal with one of Future Group's businesses contained clauses prohibiting the Indian entity from selling retail assets to anyone on a "restricted persons" list that included Reliance.

Future Retail, which runs popular Big Bazaar outlets in India, denies having violated any contractual agreements with Amazon.

FASHION NETWORK (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.

DAILY NEWS:

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

09 December 2021, Mumbai:

Myntra has launched an app to appeal to Gen Z shoppers. Style Cast is a curated shopping platform with over 60 fashion brands. It been designed to offer unique and absorbing experiences to customers aged 16 to 25. Brands featured on the online store include H&M, Urbanic, Trendyol, Misguided, DeFacto, Mango, JC Collection, Forever New and Forever 21. Style Cast is Myntra’s one of the biggest initiatives to bring global trends to the Indian market for young fashion-forward shoppers who are known to have edgy and high on-trend fashion choices, says Myntra’s chief business officer, Sharon Pais.

Style Cast caters to the unique fashion preferences of Gen-Z customers with over 3000 styles. It features three curated multi-brand segments with the themes: Winter Wonderland, Winter Crush, and Romanticism. The shopping segment has both a budget and a premium section to cater to multiple price points. Myntra is Flipkart’s fashion arm.

The business is working with established and smaller influencers to promote its garments and accessories to a Gen Z audience. In tandem with the launch of Style Cast, Myntra has launched a new range of influencer-led engagement and promotional activities across its social media platforms including Instagram.

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06 December 2021,  Mumbai:

The Confederation of All India Traders (CAIT) has slammed a number of Indian states for signing memorandums of understanding with Amazon, accusing the corporation of engaging in illicit business activities.

CAIT issued remarks on December 5 criticizing state governments for signing memorandums of understanding (MOUs) with Amazon India to sell items created by government agencies on the company's e-commerce site.

The MOUs are intended to increase sales of locally created items such as handloom textiles, which would help micro, small, and medium businesses, but CAIT claims the accords will harm the states' economy.

In a joint statement, CAIT's national president B.C. Bhartia and general secretary Praveen Khandelwal said, "Madhya Pradesh Home Minister Dr. Narottam Mishra in the past few days had admitted involvement of Amazon in 'ganja' supply racket and therefore at the first instance, the MP government should immediately cancel all its MOUs with Amazon," according to Indo-Asian News Services.

CAIT indicated that it is working to arrange meetings with chief ministers in each state to discuss the matter. The organization also intends to stage rallies against the MOUs across India.

CAIT has vowed additional rallies across India, as well as boycotts and strikes against Amazon in the past. Amazon has been charged with promoting the sale of unlawful items, breaking foreign direct investment restrictions, indulging in deep discounting, and damaging the companies and livelihoods of Indian traders, among other things, by the traders' group.

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.

DAILY NEWS:

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

30th November 2021, Mumbai:

Fashionista, a business-to-consumer shopping event, will host its next edition in Kochi from December 1 to 2, followed by Coimbatore from December 4 to 5, to showcase a variety of winter holidays and wedding apparel.

Fashionista Fashion and Lifestyle Exhibitions stated on Facebook that its winter events calendar has been released, with the Kochi edition taking place from December 1 to 2 at the city's The Avenue Centre in Panampilly Nagar.

The shopping fair will showcase womenswear designers from around India, with an emphasis on bridal attire for the winter wedding season, and will be free to enter and meet Covid-19 safety regulations. Fashionista will fly to Coimbatore for an event at the Vivanta hotel on December 4 and 5.

The 'Wedding Special' edition in Coimbatore will include bridal clothing, wedding, jewelry, accessories, and trousseau products, as well as women's winter wear and leisure items. Conlang, Trinkets, Fabkart, Think Fashionbay, and Rahuls will be among the brands represented.

From November 25 to 27, Fashionista's staged its most recent shopping exhibition in Aurangabad at the city's Welcomhotel Rama International. Royal Pinks Jaipur, Reshim Boutique, and Dev Creation were among the businesses represented during the expo.

According to the shopping fair's Facebook page, versions of its sister expo 'Fashionnavya' will be held in Salem, Mangalore, Hubli, Belgaum, and Kolhapur in December. The events will showcase a product selection similar to its Fashionista events, with a focus on sarees and occasion attire.

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.

DAILY NEWS:

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