29 April 2022, Mumbai:

The Indian retail industry is set to grow 10 percent and reach approximately $2 trillion by 2032, according to a BCG-RAI report.

In the first 10 years, the Indian retail industry will grow by approx.

$2 trillion as consumption recovers after a two-year COVID pause, says Abheek Singhi, Managing Director, BCC.

ALSO READ January retail sales restricted to 91 per cent of pre-pandemic levels: RAI

In the next decade, organized retailers will focus on expanding their retail footprint across all formats including offline and online, he adds.

Growing at approximately 12 percent pre-pandemic, India’s retail consumption declined during the pandemic but has now recovered to surpass pre-pandemic growth levels at 17 percent.

RELEVANT NEWS RAI : Retail clock decent sales growth in March

The E-commerce industry in India is expected to grow to $130 billion by 2026, as compared to $45 billion in 2021, as per the report.

An in-depth study of retail players, the report identifies challenges in the current environment and highlights emerging trends and models likely to shape the future of retail.

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27 April 2022, Mumbai:

Reliance Retail’s largest and fastest-growing apparel and accessories store chain – Trends launched six new stores across Kerala.

The stores were launched at Kottiyam in Kollam; Nooranad in Alappuzha; Beypore in Kozhikode; and Kuttipuram, Ponnani, and Edavannapara in Malappuram district.

ALSO READ Reliance Retail, Trends: New Stores In Balugoan & Daspalla

The new Trends store offers an exciting range of good quality fashion merchandise for the region’s customers.

Its products are priced affordably and offer great value for money. The storehouses latest Women’s Wear, Men’s Wear, Kids' Wear, and fashion accessories collections at affordable rates.

The Trends store in Kottiyam spans 8.880 sq. ft while that in Nooranad spans 7,150 sq. ft.

RELEVANT NEWS Reliance Retail, The fashion and lifestyle division: Achieves its greatest quarterly revenue ever

The Beypore store is spread over 5,538 sq. ft while the Kuttipuram store covers 7,180 sq. ft. The size of the Ponnani store is 6,500 sq. ft while that of the Edavannapara store is 6,840 sq. ft.

The stores have launched a special inaugural offer for customers. It is offering them a Rs 199 gift on purchases of Rs.3,499 and above.

Customers will also get coupons worth Rs 3,000 absolutely free on purchases of Rs.2.999.

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25 April 2022, Mumbai:

American Eagle plans to open 50 stores across India over the next two years with its franchisee partners.

The brand recently launched its first franchise store in Jaipur in partnership with Arihant Agencies.

ALSO READ American Eagle, India soars Hi with 1st Franchisee Store

Spread across 1,700 sq ft. the store has two floors and houses the latest collections from the brand. AshishMukul, Brand Head, American Eagle India says, with stores across NCR, Hyderabad, Pune, Chandigarh, Chennai, Mumbai, Bangalore, Kolkata, and now Jaipur, the brand has covered most of the top cities in the country.

RELEVANT NEWS 'American Eagle Outifitters' launches first brand store in Kolkata

Tarun Sharma, Owner, of Arihant Agencies adds, Being America’s favorite jeans brand, American Eagle has immense scope for growing and taking the brand across new cities in India.

American Eagle retails in India through Aditya Birla Fashion and Retail Limited, which owns the rights for the brand in the Indian market.

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27 April 2022, Mumbai:

Future Group has started the revival process for apparel firm Future Lifestyle Fashions (FLF) after Reliance stalled a deal to buy the retailer’s assets.

As a part of this revival process, FLF plans to raise Rs 1000 crore by selling a few fashion brands in its portfolio.

ALSO READ Future of Future Group?

The company has already finalized a deal to sell the fast-fashion brand Cover Story for Rs 200 crore and will work with banks and existing investors to restructure loans.

It plans to monetize assets to continue operating smoothly.

Reliance Industries (RIL) recently stalled a deal to purchase Future Group's assets following the rejection of secured lenders to the proposal.

RELEVANT NEWS Future Group starts revival process for 'Future Lifestyle Fashion'

Announced in 2020, the Rs 24,713-crore acquisition plan resulted in a protracted legal battle between Amazon and Future Group in Supreme Court as well as an arbitration tribunal in Singapore.

With the deal falling off, Shailesh Haribhakti, Chairperson and Independent Director, Future Lifestyle Fashions, resigned on April 22. 2022.

In a letter to FLFL, Haribhakti said, the volatile, complex and unpredictable legal and financial circumstances in the company were reasons behind his quitting the company.

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28 April 2022, Mumbai:

Departmental store chain Shoppers Stop plans to make a few acquisitions in the direct-to-consumer (D2C) segment, says Venu Nair, Managing Director, and CEO.

The store chain is also onboarding several D2C companies on its digital platform and on the soon-to-be-launched digital app under its beauty format SS Beauty adds Nair. The company will launch its SS Beauty app in August.

ALSO READ Shoppers Stop to open new department stores

Shoppers Stop also plans to launch a few more exclusive brands for its online platforms.

The departmental store’s footfalls have reached pre-COVID levels with the reopening of the economy, which has also been fuelled by events such as marriages and the opening-up of offices.

After a turbulent two years, the retail industry has finally recovered.

RELEVANT NEWS Shoppers Stop posts net profit in Q3 FY22

As per a recent report by *the Retailers' Association of India, sales in February 2022 grew by 6 percent from pre-pandemic sales levels and 10 percent compared to sales levels in the same month last year.

According to CRISIL, after the 40 percent decline last fiscal due to COVID-19, the revenue of brick-and-mortar apparel retailers will grow 20-25 percent on-year this fiscal, driven by a strong recovery in demand despite the third wave of the pandemic.

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CREDITS:  *The Retailers' Association of India & crisil report.

28 April 2022, Mumbai:

Future Lifestyle Fashions (FLF) has denied reports of selling a few fashion brands in its portfolio to raise Rs 1,000 crore.

The company has denied *a report published by the Economic Times on April 25, after Reliance Industries (RIL) called off its deal to buy assets of the Kishore Biyani-owned retailer.

The news report had claimed that the company had already finalised its deal to sell Cover Story to FLF for Rs 220 crore and will work with banks as well as existing investors to restructure loans.

ALSO READ Future Lifestyle Fashion revival plan starts after Reliance acquisition deal fizzles

However, FLF said, in the course of its business, the company explores and evaluates various possibilities.

At present, it does not plan to initiate any such action, which if otherwise, could have been announced by the company in terms of the SEBI Regulations, 2015.

RELEVANT NEWS Future of Future Group?

Owner of department store chain Central and discount store format Brand Factory, FLF has nearly a dozen apparel labels comprising Ancestry, Urbana, Cover Story, Indigo Nation, aLL, and Scullers in its portfolio.

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CREDITS: *ET report.

25 April 2022, Mumbai:

On the occasion of Earth Day, Forever New unveiled a new campaign showcasing its progress on its sustainability goals.

The retailer unveiled its sustainability vision last year, driven by five key pillars: Responsible Fibres, Environment, Ethical Supply, Community, and Diversity and Inclusion.

ALSO READ EARTHDAY.ORG has launched a fashion for the planet campaign with the goal of changing the fashion industry's direction

As per the vision, by 2022-end, Forever New plans to make 80 percent of its garments with responsible fibers in a sustainable manner.

The company also plans to ban the use of faur leather in its collection.

RELEVANT NEWS Shivani Goel joins Forever New as VP-Marketing

It plans to make 50 percent of its polyester garments from recycled materials and cotton garments from 100 percent sustainable fibers.

Forever New MD Carolyn Mackenzie said the business is excited to make positive changes.

The brand is committed to becoming a champion of change in the industry, inspiring conscious shopping choices, he adds.

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