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Retail 02-08-2022

Reliance Trends launches 2nd store in Odisha

02 August 2022, Mumbai:

Democratizing fashion in India, the country’s largest and fastest growing apparel and accessories specialty chain of Reliance Retail, Trends, launched its second store in Angul, Odisha.

ALSO READ Reliance Trends to launch shopping festival offering heavy discounts

By connecting with customers in India, Trends has become India’s favorite fashion shopping destination. The Angul store is modern and features good quality and relevant fashion merchandise for the consumers of the region at prices that are affordable.

Reliance Trends's store houses women’s wear, men’s wear, kids' wear, and fashion accessories, at delightful prices.

The 14,000 sq. ft. store has introduced a special inaugural offer for its customers, besides great relevant fashion and amazing prices.

As part of the special inaugural offer, customers can shop for Rs 3,499 and get an exciting gift at just Rs 199. They will also get coupons worth Rs3,000 absolutely free on purchase of Rs 2,999 from the store.

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Retail 02-08-2022

Anarock report: Around 10.15 mn sqft mall space available in India

02 August 2022, Mumbai:

Developers’ rush to build A-Grade malls in India has made available almost 10.15 million sq ft of mall space this year, as per an Anarock report.

India is expected to build approximately 15 malls across 12 Tier I, II, and III cities in 2022. Chennai will see the highest development with four malls sprawled over 2.55 million sq ft being developed in the city.

ALSO READ New Mall Supply: Pan-India To Double In 2022

A total of 5.1 million sq ft of new mall space will be provided to Ahmedabad, Bengaluru, Hyderabad, Mumbai, Pune, and Ghaziabad in NCR. Some 2.5 million sq ft is devoted to Tier II and Tier III cities, such as Vadodara, Budaun, Indore, Nagpur, and Udaipur, according to the report.

In recent months, mall occupancy levels have returned to pre-pandemic highs across the country. New shopping malls are coming up and existing ones are looking for ways to expand, says Rohtas Goel, chairman, of Omaxe, whose retail project at Chandni Chowk is at the final stages of construction.

Tier II and III cities are experiencing rapid mall penetration. These cities have seen an increase of 91 percent in mall supply in the past year, according to a recent report.

There has been a significant rise in disposable income in these cities, as well as mobile internet penetration and support infrastructure.

Consumers in these cities have shown an apparent preference for branded products, which has led to rapid growth in organized retail, the report added.

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Retail 02-08-2022

Anarock report: Around 10.15 mn sqft mall space available in India

Fluent Commerce India: Legacy order management practices

28 July 2022, Mumbai:

About Fluent Commerce:
Fluent Commerce is a global software company focused on distributed order management for omnichannel merchants.

Owing to supply chain 4.0, customer expectations are growing by the day. They demand for availability of items, range of selection, and quality; both during shopping and shipping, resulting in an increased emphasis on customer experience.

While several retailers are tapping into this new era of customers, those stuck to legacy systems are losing a huge percentage of their business to their competitors.

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ALSO READ SupplyCompass, based in the United Kingdom, is expanding into India and plans to recruit 200 people

Customers are essentially looking for a reason to keep coming back to a retailer. This is defined by their experience from the time they place their order to delivery and beyond.

Moreover, according to a study by Zebra Technologies, companies following traditional warehousing practices risk losing warehouse employees to companies that follow automated systems.

A flexible, scalable, accurate, and fast order management system is a one-stop solution to most of these concerns.

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Retail 28-07-2022

ReTechCon 2022

18 July 2022, Mumbai:

The event is back with the Retail Technology Conclave, popularly known as ReTechCon. This year the industry’s most sought-after platform will be hosted in physical form after a gap of two long years.

ReTechCon will be at its best with all the elements that have made it the country’s largest congregation of CIOs/CTOs, technology service providers, and experts in the retail technology domain. It is designed to help retailers understand the rapid changes in technology and adapt to them, for the benefit of their businesses as well as consumers.

ALSO READ RAI: Retail sales grow in May

Why Participate 100%

Networking with Leading Retailers.

Round Tables

Workshops.

Proposed areas of discussion at ReTechCon 2022*

Contactless

Retail Next in Unified Commerce Supply Chain & Logistics reengineering

Digital Solutions for Business transformation

New Fundamentals of Retail Design.

ReTechCon 2022 promises to be every bit as informative and insightful as the editions so far. It provides the right opportunity to showcase your solutions/services/products to the right audience in retail after a gap.

Technology is the way forward for retail in the new normal. And ReTechCon, the industry’s favourite platform.

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Retail 18-07-2022

H&M: Buybacks of shares

02 August 2022, Mumbai:

Buybacks of shares by H&M during week 30, 2022.

Between 25 July 2022 and 29 July 2022 H & M Hennes & Mauritz AB (publ) (LEI code 529900O5RR7R39FRDM42) has repurchased in total 992,582 own B shares (ISIN: SE0000106270) as part of the share buyback programme initiated by the board of directors.

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The share buybacks form part of the SEK 3.0 billion share buyback programme that H&M announced on 29 June 2022.

The share buyback programme, which runs between 29 June 2022 and 30 November 2022, is being carried out in accordance with Regulation (EU) No 596/2014 on market abuse (the Market Abuse Regulation – MAR) and Commission Delegated Regulation (EU) 2016/1052 (the so-called Safe Harbour Regulation).

All acquisitions have been carried out on Nasdaq Stockholm by SEB on behalf of H&M. Following the above acquisitions, H&M’s holding of own shares amounts to 4,668,970 B shares as of 29 July 2022.

The total number of shares in H&M, including the own shares, is 1,655,072,000 and the number of outstanding shares, excluding the own shares, is 1,650,403,030.

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Retail 02-08-2022

Shoppers Stop: April-June quarter results reported

27 July 2022, Mumbai:

Shoppers Stop Q1 net profit at Rs 22.83 cr, sales up to Rs 948.44 cr.

Shoppers Stop is home to a multitude of leading international and national brands for apparel, fragrances, accessories, cosmetics, footwear, home décor, and furnishings catering to the needs of the entire family.

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Retail chain Shoppers Stop Ltd on Tuesday reported a consolidated net profit of Rs 22.83 crore for the first quarter that ended on June 30, 2022.

The company had posted a net loss of Rs 104.89 crore in the April-June quarter a year ago, said Shoppers Stop in a regulatory filing.

Its revenue from operations during the period under review was at Rs 948.44 crore, up over four-fold in comparison to a lower base of the pandemic-impacted corresponding quarter. It was Rs 205.23 crore in Q1/FY 2021-22.

(Business Standard Report)

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Retail 27-07-2022

Amazon: Introduces 'Updated Smart Dash Cart'

14 July 2022, Mumbai:

Amazon launches the "Updated Smart Dash Cart" -A shopping cart designed to support users scan and pay for their buying thus helping skip the checkout line.

It dates back to September 2020, when Amazon's physical retail team presented the Amazon Dash Cart for the first time.

ALSO READ Amazon reiterates commitment to continued growth in India

Amazon Prime is a subscription membership for offering premium services to its customers. Prime offers shopping and entertainment to more than 200 million paid members around the world. Prime members will have the opportunity to discover deals on unique products across categories under various programs, said the company.

These include Local Shops on Amazon, Launchpad, Saheli, and Karigar. For the first time ever, Prime members can avail of up to a 50 percent discount when purchasing most add-on subscriptions amongst the 12 popular video streaming services available on Prime Video Channels.

CREDITS: ET

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Retail 14-07-2022

Amazon: Introduces 'Updated Smart Dash Cart'

IKEA India to increase local sourcing

29 July 2022, Mumbai:

IKEA India plans to increase local sourcing and cut product prices to attract consumers amid rising prices.

SussanePulverer, CEO, IKEA India has increased the prices of some of its products while absorbing the inflation costs on other products.

ALSO READ Ikea to open first store in a mall at Ghatkopar in Mumbai

The retailer has stores spanning 300,000 to 400,000 square feet usually located on the outskirts of Mumbai. The Swedish retailer opened its fourth store in the country in the R city mall, Mumbai. This will be the third store in the city.

Reportedly, even after three stores in Mumbai, the retailer plans to continue with its expansion plans in the city. With the launch of the third store in Mumbai, IKEA will have five operational stores in the country. IKEA India on July 28 will launch its second city store in Mumbai after Worli.

The company also launched a large format store in Navi Mumbai in 2020.

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Retail 29-07-2022

V-Mart: Kolkata Mega Store Opens

20 July 2022, Mumbai:

LARGEST FASHION STORE OF V-MART WITH 20000 STYLES INAUGURATED IN ESPLANADE, Kolkata in the august presence of Debabrata Chatterjee, Vineet Jain, Madan Agarwal, Jayesh Kothari, and Arya Sumant.

V-Mart Retail has expanded its retail presence by opening 11 new stores in the April - June quarter of FY 2022-23.

ALSO READ V-Mart Retail expands retail presence with new stores

Founded in 2002, V-Mart is a complete family retail store chain offering apparel, footwear, and accessories for men, women, and kids.

The company has 17 years of experience in providing high-quality affordable fashion. Its retail network spans over 200 stores across 171 towns in 17 states.

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Retail 20-07-2022

Cava partners Meolaa platform for retail

13 July 2022, Mumbai:

Athleisure brand Cava will feature its products on the online platform Meolaa. Cava’s products include joggers, sweatshirts, crop tops, hoodies, sports bras, and more.

Cava follows sustainable practices at all stages of the business from sourcing materials and fabrics to ethical labor regulations and spreading the message of mindful consumption and elongated product lifecycles.

Cava’s trendy apparel is made with premium, sustainable fabrics integrated with international design trends and comfortable silhouettes.

ALSO READ Athleisure: Breaking a sweat
Founded in 2022, Meolaa aims to be one of the most inclusive shopping platforms in India and currently houses over 15,000 products across six verticals such as apparel for men and women, home décor, baby products, and beauty essentials, among others.

The integration of Cava brand into this purpose-led, curated platform is expected to add value by supporting the fitness and lifestyle goals of Meolaa’s new-age buyers.

The partnership will help deliver a unique e-commerce experience for consumers by providing alternatives to fast fashion brands that evoke a sense of mindfulness towards conscious consumption.
The rising level of health-consciousness is encouraging consumers to indulge in purchasing apparel for gym sessions and personal training, adventure activities, and more. This has further created a need for brands like Cava to offer these category products to the health-focused audience.

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Retail 13-07-2022

Cava partners Meolaa platform for retail

RetailFZ to takeover Cloudtail home & Kitchen business

28 July 2022, Mumbai:

Kolkata-based garment maker Rupa and Company’s new seller business called RetailFZ is taking over Cloudtail’s home and kitchen business.

Cloudtail was the biggest seller on Amazon before shut by the etailer after acquiring a 100 per cent stake in Prione, as existing norms do not allow an entity running an online marketplace or its group companies to own equity in any seller on the platform or control its inventory.

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Besides home and kitchen, RetailEZ will also sell sports-related products like gym equipment, Agarwal said.

Cloudtail is moving its business to several new and existing seller firms after Amazon’s acquisition.

The transition has, however, not been smooth. Sales of fast-moving consumer goods have fallen significantly on Amazon India after brands including Nestle, Dabur and HUL could not issue credit to the new sellers over a lack of history in dealing with large business volumes and not having in place the required processes and technologies.

Amazon is assisting these new sellers in the transition by asking former Cloudtail employees to work with them temporarily.

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Retail 28-07-2022

Mall operators: Get Picky & Choosy With Brands

19 July 2022, Mumbai:

The sales performance guarantee clause, where a retailer must meet a certain sales target failing which the mall has the right to seek the vacation of the space, is back as malls have started terminating contracts of brands that are unable to perform.

ALSO READ Malls v/s High street

The government's liberalization initiatives have aided in the expansion of organized retail forms in India. As malls are being built throughout the country, it is clear that the retail scene is changing.

India has seen a significant increase in commerce recently.

While organised malls used to have this in the contract before the pandemic, new malls are also making it part of the contract as most retailers are asking for revenue share. To make matters worse, a rent dispute between mall owners and tenants during the lockout has caused several malls to reassess their decisions deciding which brands to be allowed & maintain a presence in malls.

CREDITS: ET

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Retail 19-07-2022

Mall operators: Get Picky & Choosy With Brands

Reliance Retail: Eyes @ Introducing Fortnum & Mason To India

13 July 2022, Mumbai:

Retail, the retail arm of Reliance Industries, is in talks with London-based luxury gourmet, gifting, and hospitality retail chain Fortnum & Mason for an exclusive partnership for India, two executives directly aware of the development said.

The British luxury department store chain is known for curated premium foods, wine, spirits, gifting, and restaurants, and has a close association with the British royal family.