30th August 2021, Mumbai:

Future Retail has filed a new case against Amazon, in the Supreme Court to seek clearance for its $3.4 billion retail assets sale to Reliance Industries, which the US firm has challenged.

Earlier this month, the Supreme Court held an interim decision by a Singapore arbitrator in October 2020 that put Future Group’s deal with Reliance Industries on hold, as being valid in India.

The top court had also said Future could not appeal a lower court's decision against it. The retailer is now asking the top court to hear the challenge.

In its over 6,000-page filing, Future has argued that if the deal with Reliance doesn't go through, it would cause "unimaginable" damage to the group, including possible job losses for 35,575 employees, and put at risk roughly Rs 280 billion ($3.81 billion) in bank loans and debentures.

Amazon has for months been locked in a dispute with Future, and accuses the Indian firm of violating contracts when it sold its retail assets to market leader Reliance last year.

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• Shantanu & Nikhil launch 2021 festive couture collection ‘Oasis’

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01 September 2021, Mumbai:

India’s e-commerce segment advertisement expenditure (adex) is likely to increase in domestic platforms such as Ajio and Tata CLiQ Luxury, etc. As Ajio, along with other Reliance Retail’s platforms and Tata Group’s online commerce platforms gain more traction in the Indian market, the homegrown companies may spend in equal proportion as well.

As per a Best in Media report, this will also give double-digit boost to the overall adex of the country, which reduced to Rs 56,000 crore in the last calendar year.

E-tailer Snapdeal plans to launch tactical ad campaigns during the upcoming festive months, says Soumyadip Chatterjee, Director, Brand Marketing. The company has planned a tactical campaign around the festive season that would reintroduce Snapdeal 2.0 at a brand level. Tata CLiQ Luxury too has been seeing steady growth trajectory on the platform since last year, with growing user base month after month. Mohua Dasgupta, Head, Brand Marketing reveals, the luxury e-commerce platform will continue to be digital-first in all its marketing efforts this festive season.

Similarly, the overall ad spend of Bewakoof is likely to be in the range of 10-15 per cent of its net revenue. The e-commerce platform is planning to accelerate its growth trajectory by investing in marketing, branding, technology and talent acquisition. According to industry estimates, leading sellers on these e-commerce platforms have started to place large orders with the manufacturers for the largest-selling categories of smartphones, televisions, laptops and home appliances in the upcoming festive season.

Gupta says, with a slowdown in international travel and lockdown restrictions, consumers have turned to the internet for their luxury purchases. Companies are also gearing up to ramp up the hiring of temporary and gig workers, she adds. A research by the Indian Staffing Federation (ISF) shows, e-commerce sector will employ over three lakh flexi-staff and gig workers this year, which includes an addition of 60,000 to 70,000 workers during the festive season in the current year.

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• In the first half of this year, Bangladesh emerges as the favored destination for Indian garment consumers
• Donear Group, an Indian textile company, has acquired Mayur Fabrics and the PV Suiting distribution network

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29th August 2021, Mumbai:

Value fashion and lifestyle products retailer V-Mart Retail plans to open around 55 stores in the current financial year. The retailer currently has around 274 stores across India with a strong presence in Tier II, III cities.

In Q2FY21 ended June 2021, V-Mart Retail reported a net loss of Rs 29 crore ($4 million) as against a net loss of Rs 34 crore it reported in the year-ago period.

As per Fashion Network, the company’s revenue for the quarter jumped two-folds to Rs 177 crore, as against Rs 78 crore it reported in the corresponding period of the previous fiscal year. Its total expenses increased by 77 percent at Rs 220 crore, as against Rs 125 crore it reported last year.

Lalit Agarwal, Chairman and Managing Director, says, the quick pick-up in consumer demand is a testimony to the customers trust in the V-Mart brand, as well as the deep-rooted relationships at local level communities. With a larger number of people getting vaccinated overall, consumer sentiment is already leading back to normal. Business is expected to bounce back stronger in the coming months and the company expects a strong festive season.

Watch YouTube: https://www.youtube.com/channel/UCnQ6v9wBHyOlRPSDgJMsJaA

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• Flipkart, an Indian online retailer, has strengthened its supply chain network in Karnataka, creating over 14,000 jobs
• Nehha Chandra to be the new Head-Marketing for Ritu Kumar Brands

27th August 2021, Mumbai:

Industry insiders believe e-tailers are likely to witness blockbuster festive season sales this year as consumers will continue shopping online due to the threat of a possible third wave of COVID-19.

The retail arm of Reliance Industries (RIL), Reliance Retail is eyeing more than 50 per cent growth in the fashion marketplace Ajio and likes to attain half the size of online fashion market leader Flipkart-Myntra combined this festive season.

The oil-to-retail conglomerate is targeting at least two times growth in electronics and groceries segments over last year and wants to grab the market leader position in groceries.

The Ambani-led company is bullish to gain traction and take advantage of higher order volume and its exclusive brands like BPL, Kelvinator, and upcoming JioPhone Next affordable smartphone.

Reliance Retail has increased its festive order volume up to 400 per cent in an attempt to push most of the business through its online retail marketplaces such as Ajio, Jiomart and the web store of Reliance Digital.

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Ajio had posted sales of about Rs 2,900 crore last fiscal, whereas this year, in the April-June quarter itself, the fashion marketplace has breached Rs 1,000 crore mark despite the pandemic-induced lockdown, the daily cited another executive as saying.

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• Cult Gaia launches multi-brand store on 'Ajio Luxe platform'

31th August 2021, Mumbai:

RP-Sanjiv Goenka Group-owned Spencer's Retail reported a 7 per cent growth in its standalone sales during the first quarter ended June 2021.

As per Fashion Network, the company’s revenues also rose marginally to Rs 552 crore during the quarter as against Rs 547 crore in the corresponding quarter last year. Its consolidated net loss narrowed to Rs 24 crore as against a net loss of Rs 55 crore in the year-ago period.

Spencer’s Retail’s total expenses for the quarter declined by 2 percent at Rs 598 crore, as against Rs 609 crore in the year-ago period. Its consolidated bottom line improved by Rs 31 crore, shares Shashwat Goenka, Sector Head, RP-Sanjiv Goenka Group.

The Kolkata-based group also added two new stores during the quarter. It currently operates around 190 multi-format stores in over 42 cities in India.

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• Donear Industries signs agreement to buy RSWM assets

Watch YouTube: https://www.youtube.com/channel/UCnQ6v9wBHyOlRPSDgJMsJaA

29th August 2021, Mumbai:

Value fashion retailer V2 Retail reported a net loss of Rs 11 crore ($1.5 million) for the first quarter ended June 2021, as against a net loss of Rs 9 crore it had reported in the year-ago period.

As per a Fashion Network report, the company’s revenue for the quarter rose by 123 percent to Rs 84 crore, as against Rs 37 crore it reported in the corresponding period of the previous fiscal year.

Ram Chandra Agarwal, Chairman and Managing Director, said, the second COVID-19 wave and the aftermath disrupted the company’s operations in recent months. Its stores operated for only 45 percent of the trading days in Q1 FY22. Nevertheless, there was a rapid recovery in customer offtake starting from the middle of June on easing of pandemic related restrictions considerably aiding sentiment and improving consumer traction.

V2 Retail is currently witnessing a sharp recovery with July registering revenue recovery of over 85 percent vis-à-vis FY20 levels. It foresees a strong demand rebound during festival season starting August 2021 onwards. Its expansion plan is on track and the company plans to open 10 stores in FY22.

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• Flipkart, an Indian online retailer, has strengthened its supply chain network in Karnataka, creating over 14,000 jobs
• Nehha Chandra to be the new Head-Marketing for Ritu Kumar Brands

Watch YouTube: https://www.youtube.com/channel/UCnQ6v9wBHyOlRPSDgJMsJaA

26th August 2021, Mumbai:

Sadashiv Nayak has been appointed as the new Chief Executive Officer of Future Retail with effect from August 25, 2021.

Nayak has been associated with Future Group for over 17 years. He has been the CEO of Big Bazaar since the last 8 years and has played a pivotal role in the hypermarket’s growth

During his 17-year association with the Future Group, Nayak has worked on various designations. He is an alumnus of NIT Karnataka and XLRI, Jamshedpur. In all, he has over 27 years of experience. Prior to Future Group, Nayak was associated with Hindustan Lever and and Asian Paints

In August last year, the board of FRL approved the amalgamation of FRL along with other group companies with Future Enterprises to facilitate a Rs 24,713 crore deal to sell the retail and wholesale business to Reliance Retail. The deal has been contested by global e-commerce major Amazon, an investor in Future Coupons that in turn is a shareholder of FRL.

Watch YouTube: https://www.youtube.com/channel/UCnQ6v9wBHyOlRPSDgJMsJaA

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• Export demand is causing a denim downturn in the United States

31th August 2021, Mumbai:

Amazon.com has urged India's market regulator SEBI to withdraw the conditional approval given to Future Group's $3.4 billion retail assets sale to Reliance Industries, citing a court ruling in the US company's favor .

The letter marks the latest twist in the bitter legal spat involving two of the world's richest men, Jeff Bezos, Founder, Amazon and Mukhesh Ambani, Chairman and Managing Director, Reliance Industries.

The eventual outcome is seen reshaping India's pandemic-hit shopping sector and deciding whether Amazon can blunt Reliance's dominance of the country's nearly trillion-dollar retail market.

Amazon has for months been locked in a dispute with Future, accusing India's second-largest retailer of violating some pre-existing contracts by selling its retail assets to market leader Reliance Industries last year.

The Supreme Court this month dealt a blow to Future Retail when it said an interim decision by a Singapore arbitrator in October 2020 was valid and enforceable in India. Amazon had filed the complaint leading to the arbitration ruling, which put Future's deal with Reliance on hold.

TOP 5:

• 'Future Lifestyle Fashion' report Rs 325 crore net loss in Q1
• Trent Ltd appoints P Venkatesalu as new CEO and Executive Director
• Amit GT launches women’s couture collection at 'India Couture Week'
• Future Retail files new case against Amazon seeking asset sale clearance to Reliance Industries
• Donear Industries signs agreement to buy RSWM assets

Watch YouTube: https://www.youtube.com/channel/UCnQ6v9wBHyOlRPSDgJMsJaA

29th August 2021, Mumbai:

Renowned online retailer from China, Shein has become the world’s largest online-only fashion retailer, as per a research by Euromonitor International

Shein has achieved the distinction on the basis of sales of goods under its own brand, says a report by Apparel Resources.

Shein’s app racked up more than 81 million downloads across the globe in the first six months of 2021 – and all this despite strong competition from fashion giants like H&M and Zara.

In May 2021 Shein had, reportedly, surpassed Amazon to become the most installed shopping app in the US, across the App Store and Google Play combined.

As per a report published in Bloomberg, in May Shein also became the most downloaded app in the US and across the globe with 17.5 million downloads.

Shein, which is present in 220 markets, offers apparels for women in sizes ranging from XS to 5XL, besides offering clothes for men and children, in addition to providing fashion and home accessories. This year, Shein’s valuation has, reportedly, touched £21billion.

Watch YouTube: https://www.youtube.com/channel/UCnQ6v9wBHyOlRPSDgJMsJaA

TOP 5:

• At India Couture Week, Ashima Leena showcases ageless femininity
• As customers return to 'embrace summer,' Gap is ready to shine
• INDIAsize is now available in Delhi! In the apparel industry, it aims to bring India's standard size chart
• Flipkart, an Indian online retailer, has strengthened its supply chain network in Karnataka, creating over 14,000 jobs
• Nehha Chandra to be the new Head-Marketing for Ritu Kumar Brands

26th August 2021, Mumbai:

Doug McMillion, CEO, Walmart believes Indian retail market is poised to grow to over $1 trillion by 2025. Speaking at the Converge@Walmart event, he advised the company think and execute locally.

Currently, not allowed to make a foreign direct investment in multi-brand retail in the country, the company operates in a different way. It expects to see generation skipping in India and it hopes to apply the learnings from this market to other countries.

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He pointed out Walmart’s Flipkart business has reached over 300,000 marketplace sellers, while the PhonePe business has more than 300 million users. Flipkart competes with US e-commerce giant Amazon in the Indian market. It recently raised $ 3.6 billion valuing the e-commerce company at $38 billion.

 http://www.dfupublications.com/categories/news/retail/india-s-retail-market-to-reach-1-trillion-by-2025-doug-mcmillion-ceo-walmart

TOP 5:

• Afghanistan's unrest has impacted the textile business in Surat, India.
• 'More Group' with an initial investment of Rs. 150 crores, enters the clothing retail market
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