27 May 2023, Mumbai

Formation of Trent MAS Fashion Private Ltd; Tata Group's Trent Ltd. has established Trent MAS Fashion Private Ltd., a new company in a 50:50 joint venture with MAS Amity Pte Ltd., based in Singapore. The primary focus of this new entity is to design, develop, and manufacture intimate apparel and related products in India.

Equity Shares and Capital

Both Trent and MAS Amity have subscribed equally to 5 lakh equity shares of the joint venture company, with a face value of Rs 10 each, totaling Rs 50 lakh. Trent MAS Fashion has an authorized share capital of Rs 1 crore, divided into 10 lakh equity shares with a value of Re 1 per share.

Objectives of the Collaboration

The collaboration between Trent and MAS aims to enhance Trent's ability to offer fully owned brands in its retail stores while supporting MAS in expanding its international presence.

Financial Performance

For the quarter ending on March 31, 2023, Trent reported an increase in net profit and revenue from operations compared to the previous year. This growth can be attributed to a low base in the previous year and ongoing network expansion efforts.

Net Profit for the March Quarter

Trent, the flagship retail arm of Tata Group, achieved a net profit of Rs 45.01 crore in the March quarter, marking a significant increase from Rs 20.87 crore in the same period the previous year.

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09 June 2023, Mumbai

Pantaloons, the renowned fashion brand under Aditya Birla Fashion and Retail Ltd., celebrates the grand opening of its store at Fiza by Nexus, Mangalore.

Pantaloons Unveils New Store

Covering an expansive 13,500 sq. ft., the store was inaugurated by popular Tulu and Kannada actor, Arjun Kapikad. This milestone further showcases Pantaloons' commitment to delivering an exceptional shopping experience nationwide.

The store showcases Pantaloons' highly anticipated summer collection, featuring the latest trends in men's wear, women's wear, and kids' wear.

Leading Fashion Brands Offer Value Proposition

Alongside apparel, customers can explore a wide range of accessories, home decor, and lifestyle offerings. With an array of exciting brands catering to formal, casual, festive, and occasion wear, Pantaloons truly embodies its position as a fashion playground.

Having established its presence in over 195 cities, Pantaloons has become a prominent fashion brand for more than two decades. It caters to the diverse needs of Indian consumers, providing a modern retail environment and accessible contemporary fashion across the country.

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01 June 2023, Mumbai 

Shoppers Stop Ltd., the popular department store chain, is set to open the first store of its affordable fashion brand Intune in Hyderabad.

Although the official launch of Intune is yet to take place, the brand's products are already available for purchase on the company's website.

What all you need to know

Intune is expected to employ a sharp pricing strategy to establish its presence in the industry, targeting young families with trendy fashion and good quality at an attractive price point. The brand will also offer pocket-friendly and trendy fashion for kids, starting as low as Rs 199.

The value format segment in the retail industry is witnessing increasing competition, with companies like Reliance Retail eyeing entry into this space. Leading players in this segment include Zudio, owned by the Tata Group, and Max, owned by Landmark.

Inspired by the success of Zudio, the Tata Group plans to expand its store count to nearly 500 by adding around 130 stores this year.

Shoppers Stop Ltd. is a renowned retailer of fashion and beauty brands, operating across 98 department stores in 52 cities.

Additionally, the company runs premium home concept stores, specialty beauty stores, and airport doors, covering a significant retail space of 3.9 million square feet.

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29 May 2023, Mumbai

V2 Retail Limited has released its consolidated financial results for the period ending March 31, 2023. The company recorded a total income of Rs. 195.5594 crores during this period, showing a decrease from Rs. 242.0465 crores in the previous quarter. The net profit for Q4 FY2023 was reported as Rs. -7.7060 crores, down from Rs. 9.3168 crores in the previous quarter.

In terms of year-on-year (YoY) comparison, the company's total income increased to Rs. 195.5594 crores in Q4 FY2023 from Rs. 161.9099 crores in Q4 FY2022. However, the net profit declined to Rs. -7.7060 crores from Rs. -9.5113 crores in the same period last year.

For the full financial year ending March 31, 2023, V2 Retail Limited reported a total income of Rs. 845.5520 crores, representing a significant increase from Rs. 645.1139 crores in the previous year. The net profit for the year was reported as Rs. -12.8167 crores, compared to Rs. -11.6772 crores in the previous year.

The company's shares on the BSE were trading at Rs. 78.76, slightly lower than the previous close. The stock witnessed a trading volume of 1232 shares throughout the day, with a high of Rs. 80.48 and a low of Rs. 77.85.

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26 May 2023, Mumbai  

British casual wear brand Superdry has inaugurated its exclusive brand outlet in Model Town, Jalandhar. The store offers a wide range of men's and women's western wear, accessories, and footwear.

Stylish Store Interior

The store's interior is designed with natural wood elements and adorned with greenery. It features dedicated sections for sandals, innerwear, logo t-shirts, bags, denim, and hero pieces from Superdry's summer 2023 collection.

Focus on Indian Market

Superdry has been actively engaging with the Indian market. They recently launched a denim campaign featuring Bollywood actor and brand ambassador Kartik Aaryan. This campaign aligns with the brand's efforts to connect with Gen Z shoppers in India.

Additionally, the brand expanded its presence by opening a store in New Delhi's Jasola district.

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07 June  2023, Mumbai

The national e-commerce policy aims to create a favorable environment for sector development and boost exports, according to Rajesh Kumar Singh, Secretary of the Department for Promotion of Industry and Internal Trade.

Retail Policy Underway

The policy will establish a streamlined regulatory framework to facilitate business operations, embrace modern technologies, and integrate supply chains. Although the possibility of a regulatory body being considered, its establishment may require additional time. Projections estimate that global cross-border e-commerce exports will reach $2 trillion by 2025

India's e-commerce export potential is expected to range between $200 billion and $300 billion annually by 2030. The policy aims to address enforcement concerns, clarify various issues and undergo inter-ministerial consultations.
Traders' Associations' Demands

Local traders' associations advocate for an empowered regulatory body to ensure adherence to e-commerce rules.

The policy aligns with amendments proposed in the Consumer Protection (e-commerce) Rules 2020, aiming to serve as an overarching framework for the sector. Additionally, discussions are underway for a national retail policy, intending to facilitate growth in the physical retail sector.

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 27 May 2023, Mumbai

CBRE's survey indicates that 42% of Asia Pacific retailers expect footfall in physical stores to rebound to pre-pandemic levels, while almost half foresee a portion of online spending transitioning back to brick-and-mortar retail. Meeting the diverse needs of hybrid shoppers who switch between online and offline channels is a significant challenge for retailers.

Rising Costs of Online Operations

Retailers face mounting expenses in operating online platforms due to factors like increased transportation costs, supply chain disruptions, labor shortages, and higher cost-per-click fees imposed by platforms such as Google. Consequently, 66% of retailers anticipate higher online operation costs in 2023.

Expansion of Physical Stores and Enhanced Shopping Experiences

Despite the challenges, 71% of retailers plan to expand or introduce new physical stores, underscoring the enduring importance of in-person retail. Preference for In-Store Product Viewing and Sales Network Optimization

The survey reveals that 61% of shoppers in the region prefer to see products in-store before making online purchases, influenced by the more compact living environment in the Asia Pacific.

Retail Investment Outlook and Challenges

Investment sentiment in the retail sector lags behind other sectors like offices and industrial markets. CBRE projects a mostly stagnant investment volume, citing uncertainties in financial markets and concerns about the banking sector. Hope for Improved Investment Sentiment

CBRE suggests that if interest rates peak as anticipated in the middle of the year, investment sentiment in the retail sector may improve.

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24 May 2023, Mumbai  

Reliance Retail, led by Isha Ambani, has laid off over 700 employees from its B2B vertical, Jio Mart, following the integration of German retailer Metro AG's Indian cash & carry business.

What all you need to know

The acquisition led to overlapping roles and functions, resulting in the retrenchment of Metro employees. Reliance Retail is also reviewing the roles of employees in other verticals and placing hundreds of employees on performance improvement plans.

Additionally, the company has asked members of the sales team to transition from a regular monthly salary to a commission-based model, where their earnings are based on sales performance.

These changes are part of the annual appraisal process. Reliance Retail, with approximately 400,000 employees, including those from Metro Cash & Carry India, did not respond to requests for comment.

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