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Retail 31-03-2022

Selfridges has started a quiet hour

31 March 2022, Mumbai:

It's an all-in-one shopping experience!

Selfridges has made an effort to demonstrate their commitment to fostering a diverse and inclusive environment.

The London-based fashion business has implemented a quiet shopping hour in all of its offices and stores, much to the delight of autistic customers.

According to reports, the business has claimed that it would switch off its in-store music to provide a quieter environment for autistic customers as well as those who love silence.

ALSO READ Selfridges,UK in £4 billion Christmas,2021 Eve sale

Additionally, displays should be turned off whenever feasible to create a less overpowering and more serene environment.

Every Wednesday from 10 a.m. to 11 a.m, Selfridges will host a Quiet Hour.

"We are also developing quiet areas for contemplation throughout our sites where team members are encouraged to relax and take a minute for themselves," the store added, expressing delight in the choice to do something for the inclusive community.

Selfridges, sometimes known as Selfridges & Co., is a high-end department store chain in the United Kingdom owned by Selfridges Retail Limited, a Canadian company.

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CREDITS: The Industry Fashion & Apparel Resources.

Retail 31-03-2022

Zara continues its metaverse journey

30 March 2022, Mumbai:

Fast-fashion giant Zara has announced a new partnership with Ader Error to be present in the world of the South Korean metaverse Zepeto.

The concept of the metaverse may still be somewhat vague for many men and women around the world, but it's becoming harder to ignore this new world that is finding favor in many sectors, starting with fashion and beauty.

ALSO READ Metaverse Fashion Week: Lowdown

The luxury industry is currently dividing its priorities between sustainable and digital initiatives, and it could soon be a key player in these new worlds.

Many brands, including Gucci, Balenciaga, and Ralph Lauren, have already experimented with them, creating capsule lines and collections specifically designed for your virtual counterparts.

But it's not just luxury players who are jumping on board the metaverse.

Fast fashion giants also want a piece of the action and are looking to these virtual worlds to bolster their reputation, especially when it comes to their number-one target, millennials and, even more so, Generation Z. Ready-to-wear brand Zara is jumping in headfirst with a collaboration with South Korean label Ader Error with a collection of clothes for both worlds.

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CREDITS: Forbes India (The news article has not been edited by DFU Publications staff)

Retail 30-03-2022

Shopee e-commerce call it quits in India

28 March 2022, Mumbai:

In just about six months of starting operations in India, Singapore’s e-commerce firm Shopee has decided to shut its India operations, according to three people in the know. Shopee announced to its local team in a company-wide town hall on Monday that it will exit India.

The etailer which competes with the likes of Meesho, Flipkart, and Amazon, especially at the lower-end of the market, will shutter its India operations later tonight, according to sources aware of the matter.

ALSO READ “Employee access was down since morning today (Monday) and operations might shut down from tonight..” said a person in the know.

The development is surprising considering Shopee had aggressive plans for India and was offering heavy discounting on its marketplace to take on existing biggies. Earlier this year, Shopee, housed under Sea, pulled out from France as well after its recent foray in Europe.

“Employee access was down since morning today (Monday) and operations might shut down from tonight..” said a person in the know.

In light of global market uncertainties, we have decided to close our early-stage Shopee India initiative, the company said in a statement to ET.

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CREDITS: ET Dux Tech Finno Expert News Prepare (The news article has not been edited by DFU Publications staff).

Retail 28-03-2022

Shopee e-commerce call it quits in India

Macy's launches Own Your Style, brand platform

22 March 2022, Mumbai:

Macy's, the well-known American department store, has launched a new brand platform called Own Your Style. The rollout is part of the company's recovery strategy, which was revealed two years ago.

The emphasis is on a redesigned brand identity that is fashion-oriented.

So, what does Own Your Style have to offer? There will be a digital hub, which will be a curated destination for style inspiration, in addition to simpler global navigation and a customized customer dashboard.

ALSO READ Macy Inc dependence on stores for 'E-Commerce' to depend on mulled split

Inside the stores, digital screens will aid with product displays as well as style advice. The monthly rotation of the curated Own Your Style and Now Trending pavilions will continue.

As part of the Macy's Style Crew, employees can earn commissions by adhering to a reimagined dress code that encourages self-expression in order to inspire consumers, as well as guiding and advising shop customers.

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Some analysts feel that, after its recent decision to refuse to divide its digital business, Macy's is eager to demonstrate the value of its omnichannel strategy to investors.

Macy's is a retailer that sells clothing, footwear, fashion accessories, and bedding, among other things, and had annual revenue of $24.8 billion in 2017.

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CREDITS: Business Wire & Apparel Resources.

Retail 22-03-2022

Max Fashion opens 400 th store in Bengaluru

29 March 2022, Mumbai:

India's largest family fashion brand, Max Fashion opened its 400th store in Bengaluru on March 27, 2022.

Having opened its first store in 2006, the brand is currently present in 170-plus Indian cities and 19-plus countries globally.

Max Fashion has a strong store footprint in metros and Tier II, III, III & IV towns of India.

ALSO READ Max Fashion partners with Myntra to sell affordable apparels

The brand is also bolstering its digital presence across social platforms.

It currently has 1.7 million Facebook fans and close to 1 million Insta followers.

The brand is also present on all leading e-commerce platforms like Amazon, Flipkart, Myntra, and Ajio.

Synonymous with a world-class shopping experience, Max Fashion offers the latest international styles in apparel, footwear, and accessories for men, women, and kids.

The brand has an overwhelming loyal customer base of over 33 million. It aims to ‘democratize fashion’ for the contemporary middle class and price-conscious families by offering them global styles at great prices.

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Retail 29-03-2022

Max Fashion opens 400 th store in Bengaluru

Cocoblu Retail to take over Cloudtail’s business

26 March 2022, Mumbai:

Cocoblu Retail plans to take over the fashion, apparel, and accessories business of Amazon’s largest seller Cloudtail, which will shut down in about a month's time.

Cocoblu Retail is a newly-floated e-commerce seller incorporated last October, a wholly-owned subsidiary of Delhi-based RattanIndia Enterprises, which in January received Rs 350 crore fund infusion by the promoters.

Cocoblu Retail will handle the fashion business from April when Cloudtail will transfer its complete fashion inventory to Cocoblu.

ALSO READ Amazon India reaches ten lakh sellers

The company is also creating its team from Cloudtail such as Chandramouli Venkataraman, CEO who joined in February from Cloudtail where he was the category leader. Anjali Rattan Nashier, Chairperson, RattanIndia Enterprises said, Cocoblu will partner with large national and international brands as well as MSMEs across multiple categories to tap the e-commerce opportunity.

The Competition Commission of India had earlier this month approved Amazon’s bid to acquire Infosys founder NR Narayana Murthy's 76 percent stake through his investment office Catamaran Ventures in Cloudtail’s parent, Prione Business Services.

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Retail 26-03-2022

Cocoblu Retail to take over Cloudtail’s business

Mall footfalls rebound as pandemic effects subside

21 March 2022, Mumbai:

Footfalls in retail malls across India are on a rebound as the third wave of the COVID-19 pandemic subsides.

The performance of most malls in key consumption centers has either surpassed pre-pandemic levels seen in February 2020 or inched closer to those thresholds.

The festive season of Holi has boosted sales, says Mukesh Kumar, Chairman, Shopping Center Association of India. Shopping malls are gradually reaching their pre-pandemic numbers.

ALSO READ Retailers to centralise omnichannel operations in 2022: Study reports

The sales have already crossed the pre-pandemic numbers in the third quarter of 2021-2022 and the current quarter is also looking very healthy, he adds.

Pentup demand and instantaneous recovery in footfalls and revenue, after the easing of Omicron-related curbs by various local authorities, would help FY23 emerge as the best year for both retailers and mall operators, believe operators.

Pushpa Bector, Executive Director, DLF Retail adds, in terms of business, vacancy levels are at their lowest and most retailers are on an expansion spree now.

Mall developers have already started charging full rentals as opposed to the lower amounts charged during the pandemic period.

Occupancy levels at most retail properties are at their best since the pandemic started.

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Retail 21-03-2022

Mall footfalls rebound as pandemic effects subside

Lulu Group, UAE to invest in Tamil Nadu

29 March 2022, Mumbai:

Multi-national conglomerate LuLu Group International on Monday signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to invest Rs 3,500 crore in Tamil Nadu to build two shopping malls and set up an export-oriented food processing unit.

(MoU) to this effect was signed on Monday by Pooja Kulkarni, Managing Director, and CEO of Tamil Nadu Industrial Guidance & Export Promotion Bureau, and Ashraf Ali MA, Executive Director of Lulu Group, the company said in a statement.

ALSO READ Lulu Group to invest to set up food park in Kerala

The MoU was signed in the presence of Tamil Nadu Chief Minister MK Stalin; Industry Minister Thangam Thenarasu; Yusuffali MA, Chairman of Lulu Group; other officials and dignitaries at the Abu Dhabi Chamber of Commerce HO in Abu Dhabi.

As per the MoU, the first shopping mall will come up in Chennai by 2024, while the first hypermarket is expected to open by this year-end itself at the Laxmi Mills compound in Coimbatore.

A high-level delegation from Lulu will soon visit the state to finalise locations and related formalities.

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CREDITS: ET Deccan Herald Money Control Business Today (The news article has not been edited by DFU Publications staff).

Retail 29-03-2022

CottonConnect x Boohoo team-up creating sustainable collection

22 March 2022, Mumbai:

The online fast-fashion retailer Boohoo Group's commitment to sustainability continues with the announcement of its latest project.

The firm has made a commitment to REEL (responsible environment enhanced livelihoods), which focuses on cotton cultivated responsibly.

It was created in collaboration with CottonConnect, a non-profit organization that has educated 2,500 farmers in Pakistan on the advantages of more sustainable cotton farming and sound business practices.

ALSO READ World Cotton Day is observed by the Indian textile sector

The programme, according to Boohoo, "creates a more transparent supply chain, allowing the company to trace the cotton used in its customers' favorite items down to the village where it was grown."

The REEL programme entails in-depth training on specially constructed demonstration plots, as well as supporting the commitment to consumers to provide more sustainable alternatives and assisting with product signposting with the 'Ready For the Future' logo.

"The company is committed to training and developing people both internally and throughout their supply chain," it stated.

"The CottonConnect cooperation educates farmers about the advantages of more sustainable production practices, which, according to the farmers, result in a greater yield and net income, allowing them to provide better education and health care to their children."

"Nothing goes to waste since the seeds are caught during the cleaning process and either replanted or utilized as a by-product to make cooking oil or fuel at a nearby facility.

It equips farmers with information about the advantages of lowering pesticide usage, a move that has resulted in honeybees returning to cotton fields, allowing farmers to make their own honey and generate more cash."

"This is just the beginning of our REEL cotton journey," Boohoo continued, "but we committed to the farmers and the programme as we work toward our long-term objective of ensuring all of our cotton is sourced more sustainably."

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CREDITS: Eco Textile & Fashion Netwrk.

Retail 22-03-2022

CottonConnect x Boohoo team-up creating sustainable collection

RRVL acquires majority stake in lingerie brand Clovia

21 March 2022, Mumbai:

Reliance Retail Ventures (RRVL) has acquired an 89 percent stake in online lingerie retailer Clovia for Rs 950 crore.

The deal includes primary investment and secondary share sale, according to a statement by the company on March 20.

The founding team and management of Clovia will own the rest of the stake in the firm/ Clovia is the third online lingerie retailer acquired by Reliance Retail after Zivame and Amante.

ALSO READ Reliance Retail launches new retail store brand

Started in 2013 by Pankaj Vermani, Neha Kant, and Suman Choudhary, Clovia offers over 3,500 product styles.

The deal comes after Reliance Retail Ventures led a $240 million funding round in Dunzo, picking up a 25 percent stake in the Bengaluru firm.

Reliance Retail Ventures is an unlisted public company incorporated on December 13, 2006.

It is classified as a public limited company and is located in, Maharashtra. Its authorized share capital is Rs 25,000.00 crore and the total paid-up capital is Rs 6,863.54 crore.

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Retail 21-03-2022

Madbow Ventures targets Rs 120 crore revenues in 2 years

28 March 2022, Mumbai:

Founded in August 2016, Madbow Ventures aims to achieve revenues of Rs 100- 120 crore in the next 18-24 months.

The company is closing the FY 21-22 with GMV of Rs 35 crore with majority of the revenue coming from its own websites.

The company also plans to enter into the offline market and is looking to diversify itself into omnichannel brands.

ALSO READ Madbow Ventures Ltd Eyes ambitious Revenue in coming two years

Keeping this in mind, it has already initiated with MBOs (Multi Brand Outlets) and done some strategic tie-ups with retail chains.

MadBow is also planning to launch its own EBOs (Exclusive Brand Outlets).

It is eyeing 100+ MBO stores and 10 EBOs by the end of 2022.

Founded by Naveen Mahlawat in August 2016, Madbow Ventures has a few in- house brands catering to lifestyle and fashion like stalkbae.com, streetstylestalk.com, slaydeal.com, lovedamoda, and SlayXO.com.

Besides, it is also a platform that helps other acquired D2C brands and moves them to scale at a fast pace with the help of technology, marketing, and operations to make a successful business.

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Retail 28-03-2022

Madbow Ventures targets Rs 120 crore revenues in 2 years

Retail sales in Canada rebounded in Jan 2022

25 November 2021, Mumbai:

Retail sales in Canada rebounded in January, exceeding predictions, as buyers visited auto dealerships and home improvement stores, according to government data released on Friday. However, retail sales in February are expected to fall.

According to Statistics Canada, retail sales grew 3.2 percent to C$58.94 billion ($46.7 billion) in January, owing to greater purchases of automobiles and components.

Analysts had predicted a rise of 2.4 percent on average. According to a preliminary estimate from Statscan, retail sales in February decreased by 0.5 percent.

ALSO READ Bangladesh Lingerie and shapewear exports: US market,Jan 22 report

In January, sales climbed in nine of eleven subsectors, accounting for 85.5 percent of total retail sales.

Retail sales increased by 2.9 percent in volume.

In a report, Avery Shenfeld, chief economist at CIBC Capital Markets, said, "It was a joyful new year for Canadian merchants in January, as Canadians compensated for the anguish of fresh pandemic restrictions by doing a lot of shopping."

According to Statscan, the predicted fall in February was based on replies from 36.6 percent of enterprises questioned.

Over the previous 12 months, the average final response rate for the survey was 89.9%.

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CREDITS: Reuters & Fashion Network (The news article has not been edited by DFU Publications staff).

Retail 22-03-2022

Retail sales in Canada rebounded in Jan 2022

Tata, Reliance moving towards top positions in India’s ecom space: Forrester

21 March 2022, Mumbai:

Ending Amazon-Flipkart duopoly, Tata and Reliance will soon be among India’s online retail space at the top, says a new study by US-based research and advisory firm Forrester.

Indian online retail market will soon witness four-way competition, says the report, ‘The State of Online Retail in India’.

Together, these four companies own more than 80 percent of India’s online retail market each maneuvering to outstep others.

ALSO READ Retailers, e-commerce sellers experience double digit growth in e-commerce sales

Tata Group is developing a super app to increase its e-commerce share. It has already acquired platforms like Bigbasket and 1mg.

Reliance is building its e-commerce platform Jiomart with several acquisitions made over the last year, including quick commerce platform, Dunzo in January. The Tata Group is also seeking the approval of the National Payments Corporation of India (NPCI) to operate on Unified Payments Interface (UPI) as a third-party payments service provider offering digital payments services.

Forrester report says, for the first time in many years double-digit increase, India’s overall retail growth slowed in FY21 as the gross domestic product (GDP) shrunk to 7.3 percent amid lockdowns.

However, online retail grew 5 percent and added $1.6 billion in sales. India’s online retail market growth is expected to accelerate around 20 percent every year to reach $85 billion by 2025, predicts Forrester. The online retail market is will reach $50 billion in 2022 and $60 billion in 2023, the report says.

Forrester predicts online smartphone penetration will taper off post-pandemic due to longer lifecycle, chip shortage, and logistics costs increasing the price of products.

Lifestyle, which mainly includes fashion, is set to make a comeback. Most online retailers will focus on personalization to achieve differentiation, for instance, tailoring experiences based on geography and shopping behavior, adds the report.

Forrester's survey found 77 percent of metro Indian online adults will use both online and offline sales channels, indicating a growing trend of digital and physical integration.

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Retail 21-03-2022