08 November 2023, Mumbai

Sai Silks Kalamandir, the ethnic apparel retail giant, has expanded its footprint with the inauguration of its 57th Kancheepuram Varamahalakshmi Silks store in Chennai's Poonamalle district.
This new addition underscores their commitment to Tamil Nadu's ever-growing ethnic wear market. Actress Khushboo Sundar graced the ribbon-cutting ceremony, adorned in a stunning blue and purple saree.

Outlines
The store offers a diverse collection of premium ethnic sarees and handloom weaves, ideal for weddings and special occasions.
Shoppers can explore Banarasi, Patola, Kota, Paithani, Organza, Kuppadam, and Kancheepuram silk sarees, as well as a range of men's and children's occasion wear.
In line with their growth strategy, Sai Silks Kalamandir plans to expand further in Chennai and build a substantial warehousing facility to accommodate additional stores.
With festivals like Diwali and Christmas approaching, there's no better time to tap into the high demand for ethnic wear in Tamil Nadu.

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03 November 2023, Mumbai

The pan-India retail segment has seen 46 percent year-on-year growth from January to September 2023, especially in eight cities spread out over 4.73 million sq. ft., as compared to 3.23 million sq. ft. in the same period last year.

The current demand surge in rental leasing across premium retail spaces is due to rapid urbanization, rising disposable income, and the popularity of offline retail, along with government and private investments in retail infrastructure.

Report

As per ‘India Market Monitor Q3 2023’ by CBRE, a leading commercial real estate services company, there was almost 24 per cent increase in retail leasing year-on-year in the first half of 2023 compared to a nominal per cent growth in the same period of 2022.

The total growth from January to September 2023 was up 34 per cent in the fashion and apparel segment’s rental leasing, followed by home furnishing and department stores at 17 per cent and food and beverage at 13 percent.

Bengaluru, Delhi-NCR and Pune lead the real estate boom

The bestsellers in the real estate market were Bengaluru, Delhi-NCR, and Pune, which collectively accounted for over 61 percent of the share across various kinds of leasing activities. While Pune led quick growth with supply additions of 58 percent, followed by Delhi-NCR at 19 percent, some other of the top eight cities saw almost 100 percent YoY growth in the completion of malls and shopping centers.

The Delhi area has consistently witnessed an increase in retail, especially as the capital city hosted the recent G20.

Multi-data point

The lion’s share of leasing activity is led by domestic firms with around 68 percent, followed by retailers from Europe, the Middle East, and Africa (EMEA) at 22 percent, Asia-Pacific (APAC) at 8 percent, and America at 3 percent. While Delhi-NCR, Chennai, and Pune have led leasing activity in the fashion and apparel category, it is home furnishing category store leasing that has been the highest in Pune, Ahmedabad, and Mumbai.
Bengaluru recorded the highest leasing share of 30 percent, followed by Delhi-NCR at 19 percent, Pune at 12 percent, and Chennai at 11 percent.
Focus on malls as entertainment centres
With malls having transformed into busy entertainment centers with restaurants, Cineplex's, and amusement areas that go far beyond just retail, more spaces are needed for bigger and better structures to enhance footfalls.

Going steady

Leasing in the retail sector is expected to remain strong in the post-Covid years, and primary leasing is increasing in momentum both in the metros and the Tier II cities as more brand retailers seize the opportunity and the potential for growth while managing operational costs.

With developers now focusing on launching high-street retail projects not just in commercial areas but also in residential sectors and other untapped locations where the aspirational middle classes strive for better living standards, this is currently helping the retail boom to spread across pan-India.

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07 November 2023, Mumbai

Reliance Industries has many large and successful verticals; however, Reliance Retail is poised to outshine them all.

Following a superb growth trajectory, Reliance Retail has been writing its unstoppable success story for the last four years.

Operational leverage

Reliance Retail's revenue from operations grew 30.4 percent year-on-year to touch Rs 2,30,951 crore in fiscal 2023, up from Rs 1,74,993 crore in fiscal 2022. Earnings before interest, taxes, depreciation, and amortization (EBITDA) saw a hike of 44.7 percent, led by broad-based growth across consumption baskets. Net profit was Rs 9,181 crore in fiscal year 2023 and its valuation has doubled to Rs 8.28 lakh crore at present from Rs 4.28 lakh crore in September 2020.
What’s more, Reliance Retail added over 3,300 new stores last fiscal year, taking the total count to over 18,650 stores, accounting for 71.5 million sq. ft. Currently, Reliance Retail is engaged in the business of retailing products and services across five key consumption baskets, viz., fashion and lifestyle, consumer electronics, grocery, pharma retail, and connectivity.
The quarter ending September 2023 reinforces growth
The Bombay Stock Exchange (BSE) filing shows that a year-on-year gross revenue growth of 18.8 percent, amounting to Rs 77,148 crore, was reported by the organization. In the same quarter in 2022, revenue figures were Rs 64,920 crore. Among its five key consumption baskets, grocery, fashion, and lifestyle maintained stronger growth momentum than consumer electronics, pharmaceutical retail, and connectivity. Another 471 new stores were added in this quarter, and although this year the festive season was scheduled towards the end of the year, the consumer electronics basket showed steady growth.

Nuanced picture
The company’s digital commerce and new commerce businesses continued healthy growth and contributed to 19 percent of its total revenues.
Impressive financial metrics spurs greater growth
Q2 net profit for fiscal year 2024 has gone up 21 percent to Rs 2,790 crore against Rs 2,305 crore in fiscal year 2023.

The EBITDA margin for the quarter, up from 7.6 percent last year, grew to 8.4 percent, driven by operating leverage and a focus on cost management. On a half-year basis, the retail giant’s gross revenue stood at Rs 1,47,096 crore, with a net profit of Rs 5,238 crore.

Quotes
Mukesh D Ambani, Chairman and Managing Director, Reliance Industries, says, “Strong operational and financial contributions from all business segments have helped Reliance deliver another quarter of robust growth.

Reliance Retail has continued to rapidly expand its offline as well as online presence while adding to its already impressive range of products and offerings. We are providing a fresh and friendly shopping experience across our seamless ecosystem.

On the roll; The strength and diversity of our retail business model are consistently delivering robust performance.” In the last Annual General Meeting, he said that Reliance Retail caters to over 90 percent of the daily needs of Indian households, from staples, food, fashion, and FMCG, to home, personal care, and general merchandise.
Analysts tracking the company also maintain that for the Mumbai-based conglomerate, the retail business is going to be the growth engine and the biggest performer in next few years.

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03 November 2023, Mumbai

Bombay Shirt Company, India's pioneering online custom-made shirt brand since 2012, has opened its 17th store in Jaipur, marking its debut in the city.
Known for outstanding customer service and a unique in-store experience, they offer personalized tailoring for shirts, jeans, chinos, and pants.

Outline
Customers choose their fabric and get a tailored fit with the help of in-house tailors. Expert stylists guide fabric selection and oversee customization.
The new Jaipur store features stunning interiors inspired by the city's heritage. It's an exciting addition to their network.

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08 November 2023, Mumbai

French menswear brand Celio plans to expand its retail presence with 15 new outlets within the next 8-10 months.
Currently operating 65 standalone stores and being present in multi-brand outlets nationwide, the new outlets will occupy 200-300 square meters, prioritizing data-driven merchandise selection. These stores will feature product displays and a self-navigating concept.

About Brand
Celio's focus extends to the top 5-6 markets in mall locations. Their brand-building efforts include boosting marketing spending to 8% of revenues from the current 6%, while aiming for a consistent 25% Compound Annual Growth Rate (CAGR) over the next 24 months.
Positioned in the premium segment for 24-25-year-olds, Celio has noted a growing demand from the 12-18 age group, accounting for 18% of their business. The company is also streamlining manufacturing for faster consumer response.

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03 November 2023, Mumbai

Ethnic wear brand Samoh, under Trent Ltd., celebrated the opening of its inaugural Bengaluru store on 100 Feet Road in Indiranagar.
This marks their second physical store, following their debut in Lucknow's Hazratganj area in April 2023, spanning 1,800 sq. ft. Samoh specializes in premium occasion wear for both men and women.

About Trent
Trent Ltd., the retail arm of Tata Group, was founded in 1998. It encompasses several well-known apparel brands such as Westside, Zudio, Utsa, and Samoh, as well as the beauty, accessories, and decor brand Misbu.
Additionally, Trent operates a chain of hypermarket and supermarket stores under the name Star.

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07 November 2023, Mumbai

Myntra, the fashion e-commerce giant, has just unveiled eight new stores in Bengaluru's Phoenix Mall of Asia, marking a significant achievement. From meticulous design and development to seamless execution, all eight stores were inaugurated on a single day.
These freshly inaugurated stores feature renowned brands like Mango, Mango Kids, Mango Man, Nautica, Nautica Kids, Myntra's diverse lifestyle brand Taavi, French Connection, and House of Pataudi, Saif Ali Khan's ethnic wear brand.

Background
Myntra, headquartered in Bengaluru, boasts a vast online marketplace hosting over 6,000 fashion and lifestyle brands, including global favorites like H&M, Levis, U.S. Polo Assn., Tommy Hilfiger, and more.
Phoenix Mall of Asia, developed by The Phoenix Mills Ltd., welcomed the public on October 27, 2023. Spread across five floors, it houses 440 brands, including 160 international labels, over 200 national brands, and 50 exciting debuts in Bengaluru.

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04 November 2023, Mumbai

Tectonic Shift

India's retail landscape is poised for a significant elevation with the inauguration of Jio World Plaza, the country's largest luxury shopping mall, opened on November 1 in Mumbai. Sprawling across an impressive 750,000 square feet within the Bandra Kurla Complex, this opulent shopping paradise will house renowned luxury brands, including Bvlgari's first Indian store, Cartier, Louis Vuitton, Versace, Valentino, and more, reshaping luxury shopping in India.
Jio World Plaza is a testament to the growing affluence and discerning taste of Indian consumers. It is also a reflection of India's emergence as a major player in the global luxury market. The mall's world-class ambience, curated selection of brands, and unparalleled shopping experience will offer discerning shoppers a truly exceptional experience.
Ascent India

The opening of Jio World Plaza is a momentous occasion for India's retail industry. It is a sign of the country's growing economic prowess and its increasing importance in the global luxury market. The mall is sure to become a popular destination for shoppers from all over India and the world.

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