05 September 2023, Mumbai

Decathlon, the renowned French sporting goods brand, has unveiled its 15th store in Bengaluru, located in Nexus Mall, Koramangala.

Promising

This eagerly anticipated large format store promises an unmatched design and exquisite shopping experience. Catering to men, women, and kids, it offers sports apparel and equipment in various categories like outdoor, water, fitness, racket, team, cycling, running, walking, roller, and target sports.

Background; Founded in 1976 by French businessman Michel Leclercq, Decathlon now boasts over 2,080 stores across 56 countries.

It entered the Indian market in 2009, initially as a cash-and-carry retailer, gaining single-brand retail approval in 2013. Today, it operates more than 100 stores nationwide.

India has become the fourth largest sourcing country for Decathlon Global, with 65% of its portfolio manufactured locally, totaling over 100 million units in the past year.

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05 September 2023, Mumbai

Indian Terrain, a leading men's fashion brand, celebrated the grand reopening of its Chennai flagship store. Spanning 2000 square feet, the store now offers a diverse range of men's clothing, from shirts to trousers and T-shirts.

Unveiling

Actor Ashwin Kumar inaugurated the revamped store in the presence of Indian Terrain's MD, Charath Narasimhan, and CBO, Shehnaz Shariff.

The store boasts a welcoming atmosphere and an exclusive collection, promising enhanced customer satisfaction.

Furthermore, the store remains committed to delivering an exceptional shopping experience, aiming to seamlessly blend style, quality, and outstanding customer service.

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04 September 2023, Mumbai

The K Raheja Group’s Shoppers Stop chain of department stores spanning pan-India has the unique distinction of being the first Indian brand in the department store segment in the country.

The first store was opened in October 1991 at Andheri, an affluent Mumbai suburb. Today, the brand has 166 stores spread across 62 cities and towns in 22 states and union territories.

However, India’s pioneer department store chain has hit a rough patch as indicated in Q1 2023 result. Profits are down by a whopping 46 percent to a mere Rs.14.5 crore. To make matters worse, Venugopal Nair, the CEO of Shoppers Stop suddenly announced his resignation on August 24 after which the company’s stocks plummeted almost 13 percent.

The company’s board of directors has also approved the promotion and appointment of Kavindra Mishra, the chief commercial officer and CEO of Shoppers Stop’s furniture retail store HomeStop, as the company’s Executive Director and CEO, following Nair’s resignation.

Intune to drive growth strategy

Conceptualized and nurtured by Nair, Intune is Shoppers Stop’s entry into the value retail space. Touted as the affordable retail format to attract consumers looking for lower-priced fashion clothing, this is perhaps Shoppers Stop’s response to the Zudio that Trent has undertaken already.

Currently, there are two Intune outlets in Hyderabad and one in Dombivali, a lower-end and distant suburb of Mumbai.

The growth strategy for Intune was revised just prior to Nair’s departure from opening 10 more stores across India in 2024 to opening 25 instead. In 2023, the plan is to add an additional 10 stores in Tier I and II towns, particularly focusing on the southern side of India. Intune is Shoppers Stop breaking the barrier of its premium positioning to attract a larger base of clientele.

Demand-based growth strategy for Intune

Intune is slated to go head-to-head with Reliance’s Trends and Trent’s Zudio. A well-analysed report showcasing the robust growth of value retail that is being primarily driven by lower-economic strata of Tier I cities and Tier II, and III towns across India, it was a no-brainer for Shoppers Stop to prioritise and nurture Intune’s growth.

As exciting Nair opined, the current trend of value retail gaining steadily is due to consumers imposing a curb on discretionary spending, opening up the opportunity for labels like Intune to fulfill the gap between need and want in the classic market situation.

Affordability

Intune’s pricing strategy is that the average selling price is between Rs 450 and 500, a segment that not only has a huge consumer base but is being served by the country’s unorganized apparel sector. Nair describes Intune products as awesome fashion at amazingly low prices. However, as Nair exits, the market is speculating if Intune can continue on its trajectory as per plan and bolster Shoppers Stop’s fortunes.

Nair seems positive his baby will break out by the middle of next year, which will be the brand’s first anniversary. However, skeptics aren’t sure as only 30 percent of the apparel market in India is under the organized sector and the value retail space has far too many players, all working towards cornering the Tier II, and III towns dotting the Indian landscape.

It is likely that the new CEO will stick to the well-laid-out plans and continue focusing on creating more efficient and smaller Shoppers Stop department stores in terms of space. It will also focus on SS Beauty and move forward with a premium mix of beauty labels, leveraging the big opportunities this sector presents.

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01 September 2023, Mumbai

Jack & Jones, a men's fashion brand under Bestseller, has inaugurated a new store in Kochi's Forum Mall, Maradu. Commemorating 15 years of operations in India, Jack & Jones originally entered the Indian market in 2008 with its first store at Oberoi Mall, Mumbai.

Background

Bestseller, the Danish parent company of Jack & Jones, established in 1975, oversees more than 20 fashion brands across 46 countries through 2,800 chain stores and 12,000 external multi-brand stores.

With over 313 exclusive brand outlets and a presence in 1,785 shop-in-shops, Bestseller India markets six brands including Jack & Jones, Vero Moda, and Only.

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05 September 2023, Mumbai

Jaypore, the ethnic wear and lifestyle retailer, has unveiled a new store in Pune's Wakad district, offering a captivating blend of heritage craft products to the city's residents.

The store boasts a warm, traditional interior that accentuates its commitment to preserving heritage crafts. Within its spacious confines, shoppers can explore a diverse range, from women's juttis to the vibrant 'Cotton Classics' kurta sets and exquisite handloom sarees perfect for bridal and festive occasions.

Nuances

Additionally, the store showcases semi-precious stone jewelry, kitchenware, home decor, textiles, and various accessories. Located on the second floor of S72 at Shankar Kalat Nagar, this expansion adds to Jaypore's growing presence across India, complementing its exclusive brand outlets in cities such as New Delhi, Noida, Cochin, Bengaluru, and Mumbai, as well as its online store.

In recent times, Jaypore has also established outlets in Hyderabad, and New Delhi, and made its brick-and-mortar debut in Lucknow in late 2022.

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04 September 2023, Mumbai

Cantabil Retail India Ltd. recently unveiled its newest store in Hamirpur, Himachal Pradesh. The 27,000 sq ft. store, inaugurated on August 27th, features an extensive collection for men, women, and kids. A store manager, preferring anonymity, described it as a complete family shopping destination.
This marks Cantabil's third store in Himachal Pradesh, with previous locations in Dharamshala and Kangra.

Background

The brand, owned by Cantabil Retail India Ltd., has been a prominent player in apparel since 2000, expanding from men's wear to women's and children's clothing, along with accessories like perfumes, deodorants, and more.
With over 440 exclusive retail outlets nationwide and an online presence on platforms such as Cantabilshop.com, Amazon, Ajio, Flipkart, and Myntra, Cantabil continues its expansion efforts. Earlier this year, they launched ten stores in various states, solidifying their presence across India.

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01 September 2023, Mumbai

Uniqlo, the distinguished brand renowned for its ready-to-wear attire and flagship label within the Japanese conglomerate Fast Retailing, announced a significant development on Monday. The brand introduced Daisuke Tsukagoshi, aged 44, as the new Chief Operating Officer.

Role & responsibility

In this role, Tsukagoshi's primary responsibility is to provide crucial support to the founder and CEO, Tadashi Yanai, aged 74. Having been overseeing Uniqlo's global day-to-day operations since the previous year's September, Daisuke Tsukagoshi is set to take on multiple pivotal positions starting this Friday.

This includes assuming the responsibilities of Executive Director, President, and Chief Operating Officer at Uniqlo Co., the entity with oversight over all brand-related activities. Tsukagoshi also holds leadership in Fast Retailing's endeavors in North America, a region that witnessed the company's first-time profitability during the 2021/22 fiscal year.

Growth centric

With robust expansion plans for this region in the forthcoming years, the company's aspirations are significant. As of now, there's no official successor named by Tadashi Yanai, leading to conjecture whenever one of his key associates is promoted to a notable role.

Despite this, Yanai's two sons, Kazumi and Koji Yanai, have been active members of Fast Retailing's board of directors since 2018.

Background; It's worth noting that during this period, Yanai repeatedly dismissed any notion of establishing a family-oriented succession strategy.

Back in 2019, Yanai publicly conveyed his preference for a woman to eventually take the helm of his expansive business empire.

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05 September 2023, Mumbai

Hidesign, the leather bag and accessories brand, has just unveiled its newest store in Pune, located at the Phoenix Mall of the Millennium in Wakad. Remarkably, this marks their fourth store opening in four weeks. This recent spree included store launches in Ranchi, Jharkhand; Mohali, Punjab; and Kochi, Kerala, all in the span of three weeks.

About Brand

Founded in 1977, Hidesign initially started in Pondicherry and gradually expanded with stores in Mumbai and Delhi.

Today, they offer their leather goods through both physical outlets and online platforms like Amazon, Flipkart, and Myntra. Their product range includes handbags, briefcases, laptop bags, travel bags, wallets, and footwear.

With approximately 90 stores across India and a presence in 25 countries, including the USA, Canada, UK, Germany, Portugal, Bosnia and Herzegovina, Kenya, Mauritius, Nepal, Sri Lanka, Taiwan, and the UAE, Hidesign continues to grow and reach a global audience.

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