17 May 2023, Mumbai

Pacific Group, a leading mall and real estate developer, has recently launched a state-of-the-art premium outlets mall in the bustling neighborhood of Jasola, New Delhi.

Spanning an impressive 3 lakh sq-ft, this upscale shopping destination marks the latest addition to Pacific Group's portfolio of six operational malls in Delhi and Dehradun, presenting shoppers with a truly unique and immersive retail experience.

The Pacific Premium Outlets Mall houses a remarkable collection of over 74 premium outlet brands, all conveniently located under one roof, such as The Collective, The Tank, Tommy Hilfiger, Calvin Klein, Lacoste, Skechers, Adidas, and Birkenstock, among others, all at unparalleled prices.

Addressing the growing demand and penchant for premium brands, the Pacific Premium Outlets Mall provides ample parking space for over 600 cars.

Pacific Premium Outlets Mall sets a new standard by providing an open and seamless layout, enabling shoppers to engage in up-close and personal interactions with their favorite premium brands, the group's redefining and revolutionizing the retail experience in Del

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 05 May 2023, Mumbai  

Wazir Advisors, the management consulting firm has announced a partnership with Fashion Snoops, a US-based trend forecasting and design advisory firm.

This collaboration aims to expand the reach of Fashion Snoops' services in South Asia, providing manufacturers, brands, and other stakeholders in the fashion, lifestyle, beauty, and wellness sectors with access to their world-class content and services.

With the aim to help businesses and brands thrive in uncertain and fast-changing markets, Fashion Snoops has relaunched its future forecasting platform, streamlining the product creation process to make it more intuitive, interactive, and creatively fulfilling.

Through this partnership, South Asian countries will have access to clear, actionable insights to help them succeed in an increasingly competitive market. The collaboration brings together Wazir Advisors' strong regional presence and Fashion Snoops' customised solutions, ensuring prompt and dedicated service to the industry's needs.

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31 March 2023, Mumbai

The Indian e-commerce market is expected to grow at a compound annual growth rate of 27 per cent to reach $163 billion by 2026, according to a report by Redseer.

This growth is almost three times the rate of growth of the overall retail market, highlighting the significance of digital-first strategies. Digital-first brands now account for over 25 per cent of all online sales, indicating the growing importance of such strategies. These brands are also expanding offline, posing a threat to traditional players.

Currently, digital-first brands typically derive around 75 per cent of their sales online, while traditional players garner less than 30 per cent of sales from online transactions. The research identified 75 Digital Disruptors across three categories: electronics & appliances, fashion & home, and grocery & personal care.

The report also highlighted that while some traditional brands have been able to establish a presence in the e-commerce space, many have struggled to adapt to the agility and financial parameters of the online market.

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13 May 2023, Mumbai 

The Indian government has recently announced its ongoing efforts to develop a comprehensive e-commerce policy and establish rules for the sector under the Consumer Protection Act.

What all you need to know

The primary objective of these initiatives is to ensure coherence and consistency between the policy and rules. With a strong emphasis on consumer welfare, the government aims to formulate regulations that cater to the needs and rights of consumers, be it through the establishment of a regulatory body or other alternative means.

One of the key goals of the government is to create a level playing field in the e-commerce landscape by providing equal access to small and medium-sized businesses.

This move aims to promote fair competition and foster an open network of digital commerce (ONDC). By introducing the concept of ONDC, the government seeks to offer an inclusive platform that enables small players to thrive, while also benefiting consumers at large.

The government firmly refutes any claims suggesting its intention to suppress the margins of e-commerce platforms or engage in direct competition with specific providers.

In line with these efforts, ONDC has set ambitious targets for the near future. By the end of the year, the platform anticipates facilitating approximately one lakh daily transactions, a significant five-fold increase from the current number. Moreover, the number of merchants on the platform is expected to double from the existing count of 36,000, further enhancing the ecosystem of digital commerce in India.

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04 May 2023, Mumbai  

Shifting trends in shopping behavior in urban India are driving a rise in individual purchases, with younger and more affluent consumers in bigger cities choosing to shop alone rather than with friends and family, according to industry executives.

What all you need to know

The trend can be attributed to factors such as the increasing influence of social media and e-commerce, as well as greater financial independence for consumers.

The demand for small, single-serve packs is also on the rise in markets with a high proportion of young professionals and quick commerce. Despite the shift, families still make group purchases, and retailers are responding to changing trends by investing in direct-to-consumer brands that cater to individual preferences.

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27 March 2023, Mumbai 

The expansion and development plans of leading mall operators, as well as the increasing focus on high streets for retail spaces, indicate a positive trend in India's organized retail sector. India's leading malls are embarking on big development and construction plans to cater to the growing demand for quality retail space.

As organized retail penetration increases further due to higher disposable income, shopping malls are likely to benefit the most from this shift. Consumption in malls across the top eight cities is expected to report a 29% CAGR over FY23-28.

Cushman & Wakefield's analysis shows that India's top three cities will need 9 million square feet of retail space annually till 2027 to match the retail space per capita (RSPC) with that of any small country. The increased demand for quality retail space and the potential for significant growth in the organized retail sector is leading to a wave of development and construction activities across India's malls.

The increased demand for quality retail space is not limited to malls alone, as high streets in several cities are also being developed for retail spaces.

According to a recent report by Anarock, India's organized retail sector is expected to grow at a CAGR of 25-30% over the next five years, driven by rising income levels, changing consumer preferences, and the growing adoption of e-commerce. The report also highlights that India's retail sector is expected to reach $1.3 trillion by 2025, making it one of the largest retail markets in the world.

With the retail industry bouncing back post-Covid, brands have found it challenging to lease space, making it an opportune time for mall operators to expand.

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11 May 2023, Mumbai 

Indian shopping malls are projected to attract higher consumption due to factors such as increasing urbanization and rising income levels. However, when it comes to revenue efficiency, high streets are expected to outperform organized and formal retail assets across the country, according to a recent study conducted by Knight Frank India.

In terms of total consumption, shopping malls are predicted to record over $11 billion during the financial year 2023-34, while high streets have a potential consumption of $2 billion. However, when comparing consumption on a per square meter basis, the story changes significantly. Operational malls are estimated to have a consumption rate of $1,273 per year per square meter, whereas high streets have a potential consumption rate of $4,099.

Despite high streets occupying only 6% of the total gross leasable area compared to the extensive shopping mall stock of approximately 93 million square feet, they offer 100% efficiency in terms of maintenance costs. On the other hand, shopping malls can range between 50% and 60% efficiency, depending on their grade, due to the high maintenance costs associated with common areas, central air conditioning, and escalators.

The study highlights the importance of customer experience in the retail industry. While high streets may lack certain amenities provided by shopping centers, the modernization of Indian cities has led to the revival of many high streets, offering improved access, parking facilities, store visibility, and more.

The study also ranks the top high streets in India based on factors such as access, parking facilities, assortment of retailers, and layout. Bengaluru's MG Road tops the list, followed by Hyderabad’s Somajiguda, Mumbai’s Linking Road, and South Extension in Delhi.

Among the 30 high streets surveyed, Ahmedabad’s SG Highway boasts the highest spending quotient. Interestingly, the study reveals that the top high streets demanding the highest rents do not necessarily provide the best retail experience.

While real estate rent corrections have occurred across various asset classes, the post-pandemic recovery has led to numerous transactions being closed at rents higher than before. High streets like Khan Market in New Delhi, DLF Galleria in Gurgaon, and Linking Road and Turner Road in Mumbai command substantial rents for retailers aiming to maintain their brand presence. For instance, Khan Market sees monthly per square foot rentals ranging between Rs 1,000 and Rs 1,500, while DLF Galleria attracts rents of Rs 800 - Rs 1,200, and Linking Road reaches up to Rs 1,000.

The study also identifies NCR, Kolkata, and Ahmedabad as markets with a high concentration of non-modern retail arenas. Ahmedabad and Kolkata, in particular, have yet to witness the entry and expansion of many large national and foreign retailers on their key high streets.

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 27 April 2023, Mumbai 

Mall operators in India are expected to see a revenue lift of 7-9% this fiscal, the growth is equivalent to approximately 125% of pre-pandemic or fiscal 2020 revenue, according to credit rating agency CRISIL.

The increase is due to buoyant retail sales and improved rental yields. The rise comes on a high base of fiscal 2023, where a return to social normalcy after mobility curbs were lifted led to substantial growth in footfalls, resulting in a robust 60% rise in revenue.

The benefits of healthy occupancy and better leasing rates are expected to continue this fiscal. However, the impact of a slowdown in advanced economies and the manifestation of the lagged effect of repo rate hikes could curtail discretionary spending, including retail sales.

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 24 March 2023, Mumbai 

The Mall of Srinagar, Jammu & Kashmir's first international mall, is set to become operational by 2026, creating thousands of jobs in the region.

The mall, which will have over 500 shops, is one of the largest in the area and is being built by UAE-based EMAAR Properties and Magna Waves Buildtech.

The project has already attracted significant investment from top companies, including TATA Sons, TATA Consulting, Lulu International, Apparel Group, Titan Company, EaseMyTrip, Reliance Retail and PVR Group, who have all signed MOUs with Emaar. Together, these companies are expected to create 13,500 jobs in the valley.

The Mall of Srinagar is the first significant foreign direct investment in the state of Jammu and Kashmir, made possible by an MOU signed between the governments of India and the UAE. The 1,000,000 sq. ft. project will feature a mall, a six-cinema multiplex, a five-star hotel, and a multi-use commercial and residential complex.

The launch of the Mall of Srinagar is a significant development for Jammu and Kashmir, which has been working to attract foreign investment and create new job opportunities.

The mall is expected to not only boost the region's economy but also provide residents with a world-class shopping and entertainment experience.

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Runwal Group, a prominent real estate developer, has announced the complete acquisition of R City Mall, located in Mumbai's Ghatkopar area.

The company revealed that it purchased the remaining 50% of shares from its joint venture partner of over 17 years, the Government of Singapore Investment Corporation (GIC). This move positions Runwal Group as a major player in the Indian retail industry and marks a significant milestone in their growth strategy.

According to the company's statement, the acquisition of R City Mall represents one of the largest single acquisitions in the history of the Indian retail sector. Additionally, GIC has realized over four times the returns on its initial investment through this transaction. Runwal Group's primary objective with this acquisition is to expand its annuity portfolio and establish itself as the leading retail player in Mumbai.

The collaboration between Runwal Developers and GIC began in 2006 when they joined forces for the development of R City Mall. This partnership marked one of the early instances in the real estate industry where Foreign Direct Investment (FDI) was attracted through a joint venture. GIC initially invested 50% of the capital, and together, they transformed the project into a flagship mall.

R City Mall, which opened its doors in 2009, sprawls across 1.2 million square feet of retail space. It houses more than 300 renowned Indian and international brands, including 14 anchor brands, covering a wide range of sectors such as fashion, food, beverage, and entertainment.

R City Mall also hosts the first and only in-mall format of Ikea in India, occupying an area of 72,000 square feet.

12 April 2023, Mumbai 

The overall e-commerce logistics opportunity is expected to grow at a minimum CAGR of over 20% and exceed ten billion parcels by FY28, fueled by steady e-commerce growth.

The total number of shipments, including forward and reverse, for e-commerce logistics has exceeded one billion in FY23, excluding hyperlocal shipments, says a report from Redseer Strategy Consultants, indicating that the Indian e-logistics market is experiencing significant growth in FY23.

What all you need to know

The report reveals that the in-house logistics and third-party players have an equal share of the market. Although the industry experienced intensifying competitive trends from smaller incumbents, the market remains an attractive long-term investment.

The report also highlights that direct-to-consumer (D2C) brands have emerged as a strong growth segment within e-commerce. D2C brands across all channels are expected to grow overall GMV at 35% in the next few years.

There are multiple pockets of high-growth and high-yield opportunities available for e-logistics players, such as D2C or non-e-commerce segments like C2C, PTL/FTL, and wider SCM services.

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 24 March 2023, Mumbai 

FabIndia, the ethnic wear and lifestyle retailer, along with its private equity investors, is planning to raise funds through a share sale.

The company is looking to raise between Rs 1,100 crore and Rs 1,200 crore at a valuation of Rs 11,000 crore to Rs 12,000 crore. The funds will be used to repay debt and for working capital needs. FabIndia had earlier filed its draft prospectus for an IPO but due to market volatility, the IPO plans have been pushed back.

The company is working to raise funds from new investors in a secondary sale of shares. Shareholders including PremjiInvest and Lighthouse Funds are expected to sell shares in the upcoming fundraising round. FabIndia has reported strong interest from investors, particularly those focused on sustainability, as the company uses eco-friendly manufacturing practices.

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