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LuLu Group: Plans To Open In More Cities

25 June 2022, Mumbai:

*Global retail conglomerate LuLu Group recently announced its expansion in three more Indian cities namely Chennai, Hyderabad, and Ahmedabad.

Lulu Lucknow is the largest mall by the group in India.

Lulu Group’s other malls are located in Kochi, Thrissur, Trivandrum, and Bangalore. Headquartered in Abu Dhabi, UAE, Lulu Group currently has 234 hypermarkets and 24 shopping malls in the Middle East, Egypt, India, Malaysia, and Indonesia with a global workforce of over 57,000 employees.

The group has an extensive expansion plan in India, with many more projects in the pipeline.

CREDITS: *Indian Retailer

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LuLu Group: Plans To Open In More Cities

Shoppers Stop: Opens new store in Delhi

27 June 2022, Mumbai:

Shoppers Stop has recently launched a new store in Delhi & this store is located at Soul City Mallin Delhi, Dwarka, Delhi.

India’s retail sales are set to grow in low double digits this fiscal year as footfalls at offline stores surge with the easing of restrictions, says Venu Nair, Managing Director, and CEO, Shoppers Stop.

This year, Shoppers Stop plans to open 15 department stores and 20 beauty stores. And another 15 department stores and 20 beauty stores in FY23, notes Nair.

It plans to partner with a number of international and national brands for its expansion besides adding new brands to its online portfolio.

CREDITS: Retail4Growth

Advertise in FAIR EXPRESS 2022

Shoppers Stop: Opens new store in Delhi

NCLT: Adjournes Amazon’s plea

17 June 2022, Mumbai:

NCLT to hear Amazon’s plea against Future Retail’s insolvency on Monday.

The e-commerce giant’s counsel argued that FRL’s lenders had colluded with the company and hence bankruptcy court should not admit the case.

The National Company Law Tribunal (NCLT) has adjourned Amazon’s plea against a move by the Bank of India to put debt-laden Future Retail under the insolvency process.

The insolvency petition, filed in May, had come up for hearing before the Mumbai bench on Thursday.

The bench, led by Justice Pradeep Narhari Deshmukh, was hearing Amazon’s side on why its plea was maintainable and will take up the case again on Monday.

CREDITS: Business Line (The news article has not been edited by DFU Publications staff).

NCLT: Adjournes Amazon’s plea

Myntra: StyleCast Sees Traction

18 June 2022, Mumbai:

*‘StyleCast’, Myntra's dedicated destination for the fashion-forward Gen-Z enthusiasts of the country, continues to witness steady growth, being a one-stop destination for all trendy drops that are in line with global fashion and their aesthetic palettes.

Despite consumer sentiment being relatively low, many categories in discretionary spending registered high sales during these events, says N Chandramouli, Founder, TRA Research.

As per a RBI report, consumer confidence index improved slightly to 75.9 in May compared to 71.7 in March. Shrenik Gandhi, Co-Founder and CEO, White Rivers Media says, consumer sentiment isn’t as negatively impacted as people are projecting it to be. Business need to introduce right products and services at the right time and right prices to attract customers, he adds.

An earlier report by ICICI Securities also notes,discretionary companies like retail, QSRs and jewelry will perform well. D2C brands selling beauty, home, kitchen, utilities and durable goods will perform well.

CREDITS: *Indian Retailer

Myntra: StyleCast Sees Traction

E-tailer Sales: Going Strong Despite Inflation & Low Consumer Sentiment

16 June 2022, Mumbai:

E-tail biggies — Amazon, Flipkart, and Myntras of the world — are all in the middle of hosting mid-year sales/promotional campaigns one or the other way at the moment.

Given the business environment currently, there are clearly headwinds as inflationary trends are biting the common man more than anybody else.

Startups layoffs, day in and day out & elevated interest rates, and more are not doing any good to consumer sentiments.

But same doesn't reflect in the e-tailers' sales session response been evinced by the e-shoppers buying enthusiasm.

The case in point is," The 16th edition of Myntra’s End of Reason Sale (EORS) witnessed 70 percent growth in traffic over business as usual (BAU) on Day One".

Flipkart’s ‘End Of Season Sale’ is likely to be a win-win for multi-stakeholders including fashion shoppers.

CREDITS: Business Insider

E-tailer Sales: Going Strong Despite Inflation & Low Consumer Sentiment

Shoppers Stop: Sandeep Jabbal joins as CCA, CDT & Information Officer

16 June 2022, Mumbai:

Sandeep Jabbal was appointed as Customer Care Associate and Chief Digital Transformation and Information Officer w.e.f. 23rd May 2022.

Sandeep comes with in excess of 18 years of relevant rich experience holding an MBA degree and in addition to being a mechanical engineer.

Shoppers Stop is an Indian department store chain, owned by the K Raheja Corp.

There are 86 stores across 40 cities in India, with clothing, accessories, handbags, shoes, jewellery, fragrances, cosmetics, health and beauty products, home furnishing, and decor products.

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Shoppers Stop: Sandeep Jabbal joins as CCA, CDT & Information Officer

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