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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21 April 2022, Mumbai:

Real estate developer Bhumika Group plans to launch a new store in collaboration with fashion retailer Lifestyle spanning 22.000 sq. ft. in Udaipur inside the ‘Urban Square Mall.

ALSO READ As retail limitations reappear, retailers are resuming rent negotiations with malls

A part of the Dubai-based retail and hospitality conglomerate, the Landmark Group, Lifestyle is a one-stop shopping destination for Indian men, women, and children for apparel, footwear, handbags, fashion accessories, and beauty products.

The store offers shoppers an enhanced shopping experience through its assortment of national and international brands.

RELATED NEWS Post Covid World: Malls Rent Hike Is A Reality

Launched in a joint venture with Trehan Developers, Alwar, the Urban Square Galleria Mall by the Bhumika Group is spread over 1 lakh sq ft.

It comprises retail shops, a food court, restaurants, multiplex, and an entertainment zone.

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14 April 2022, Mumbai:

The Singapore arm of e-commerce company Flipkart has invested $116 million in fashion retailer Myntra.

This increases Flipkart’s investment in its various businesses in March to over $800 million.

In March, Flipkart invested $553 million in its marketplace business and another $143 million in the new healthcare business. The e-commerce company also launched a separate app for healthcare businesses, called Flipkart Health+.

ALSO READ Flipkart is a firm believer in real-time transactions

The new investment would help Myntra focus on building live commerce and beauty categories in the future, says Nandita Sinha, CEO.

The company’s live commerce feature aims to target Gen Z shoppers.

The company also launched Style Squad on February 22 to attract more influencers onto the platform and help them launch and promote new brands.

RELATED NEWS Retail biggies team up to end Amazon-Flipkart dominance in Indian e-commerce

Kalyan Krishnamurthy, the CEO, of Flipkart, says, Myntra will continue to operate with its strategy under the new management.

It will continue to target growing customer segments.

Walmart-owned online retailer Flipkart witnessed several changes in its management in recent months.

Amar Nagaram, the Former CEO, quit to start his own ventures along with Ramesh Bafna, CFO, and Harish Narayanan, CMO.

The e-commerce firm acquired Myntra in March 2014 for Rs 2,000 crore.

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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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21 April 2022, Mumbai:

The resurgence of retail sales to 12 percent in March 2022, compared to the pre-pandemic level of March 2019, has made Arvind Fashions and Metro Brands more confident about growth prospects.

Retail sales in India grew 28 percent over the same month last year, as the government lifted pandemic-related restrictions.

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

Kulin Lalbhai, Executive Director, Arvind Fashions adds, that marriages in the quarter along with the return to normalcy drove retail sales growth in March.

RELATED NEWS Retailers across India on an expansion drive as sales surpass pre-COVID levels

Nissan Joseph, the CEO, of Metro Brands, adds that the apparel category, which experienced a 10 percent price rise is expected to experience another hike later this year.

There could be another price hike during the autumn-winter season, adds Lalbhai.

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CREDITS: Retailers Association of India (RAI) report.

14 April 2022, Mumbai:

Revenues of listed retailers across apparel, lifestyle products, restaurants, and supermarkets grew by double digits year-on-year during the March quarter despite the Omicron outbreak as the reopening of offices and schools, and weddings drove demand.

Most retailers expect sales to pick up in the new fiscal with the onset of the wedding season and the reopening of schools and offices, says Venu Nair, Managing Director, Shoppers Stop.

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

Consumption of beauty and kid’s clothes is expected to rebound, posing a rosy outlook for the next six months, he adds.

Supported by new store openings, apparel brands and retail companies such as Trent, Aditya Birla Fashion and Retail, V-Mart, Shoppers Stop, and TCNS Clothing Company are expected to register over 20 percent Y-o-Y revenue growth in the March quarter, as per ICICI securities.

RELATED NEWS Retailers across India on an expansion drive as sales surpass pre-COVID levels

The third COVID-19 wave in December and consequent restrictions in malls, multiplexes, and restaurants restricted revenue recovery to 60 percent of pre-COVID levels in January’22, says the ICICI Securities report.

February revenues improved to 80-85 percent of pre-COVID levels while they surged higher in March, the report added.

The watches business of Titan grew by 12 percent during the March quarter while its jewelry business declined by 4 percent as gold prices increased sharply and continued to remain volatile.

The Tata-owned retailer hopes for robust demand for its products in the first quarter of 2022-23.

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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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20 April 2022, Mumbai:

Shivani Goel, Head-Marketing Communications and International Expansion, Colorbar, has been appointed the new Vice President-Marketing by Melbourne-based premium fashion brand, Forever New effective from April 2022.

Goel will lead the brands’ communications across all channels, strategy, retail marketing, and public relations.

ALSO READ Forever New launches new Autumn/ Winter range

She will focus on achieving excellence in CRM, e-commerce operations, influencer management, digital marketing, and brand ambassador program.

With over 18 years of experience in brand management, communication, and PR, Goel has led many brand campaigns.

RELATED NEWS Forever New to strengthen omnichannel presence in India

She has also designed, and implemented curated concepts for brand launches, led the influencer marketing program, and partnered for brand expansion in international markets.

She also led marketing activities for Major Brands India-group brands such as Mango, Aldo, La Senza, Nine West, Koovs.com, etc.

Along with Forever New, she aims to set a new benchmark in the fashion industry.

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22 April 2022, Mumbai:

Swedish home furnishings retailer Ikea has appointed Adosh Sharma new Country Expansion Manager. Sharma will lead Ikea India’s expansion and growth plans.

He will take over the responsibilities from Per Hornell and report to Susanne Pulverer, CEO, Ikea India.

ALSO READ IKEA looks forward to National Retail Policy (NRP) rollout

A seasoned professional with over 20 years of experience in retail, Sharma has worked across India, the Middle East, and North Africa markets.

His last assignment was with Al Futtaim where he worked with brands such as John Lewis, Marks and Spencer, and Eggo as General Manager.

He says Ikea has been able to build a strong foundation in India through its omnichannel presence and looks forward to providing customers with accessible, affordable, and sustainable home furnishing solutions.

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IKEA India has been operating in India for 30 years as a part of the INGKA Group, sourcing many different products for IKEA stores worldwide.

It sources products for approximately € 315 million every year, with the aim of doubling it in the next few years.

The company works with 48 suppliers in India, engaging over 45,000 direct co-workers and approximately 400,000 coworkers in its extended supply chain.

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15 April 2022, Mumbai:

Leading apparel brand H&M has launched a new collection of linen long sleeve shirts, linen tees, relaxed-fit resort shirts, along with pull-on trousers and shorts both in relaxed fits.

The silhouettes and colors give the collection a fresh and light feel through neutral shades along with playful prints.

ALSO READ Despite persistent retail limitations, H&M returns to pre-pandemic sales level

Its garments are designed in soothing neutral and pastel tones making the collection a perfect addition to a summer wardrobe.

The collection features classic menswear pieces, relaxed tailoring, and more sustainable materials that combine to create a modern range of everyday wear, says Amit Kothari, Regional Marketing & Communications Manager – South Asia.

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The collection launched with a campaign, starring musician and artist Armaan Malik, embodying the message of freedom to be your own self.

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