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Retail 26-10-23

Shoppers Stop posts Rs 6 cr profit as beauty sales grows

Shoppers Stop returned to black in the July-September quarter, supported by tighter inventory management, higher premium spending and strong beauty sales, even as reported same-store sales growth slowed amid a shift in the festive calendar.

The department store retailer reported consolidated net profit of Rs 6 crore, against a net loss of Rs 7 crore in the year-ago quarter. Consolidated gross retail turnover rose 7 per cent year-on-year to Rs 1,618 crore, while statutory revenue from operations increased 8.7 per cent to Rs 1,370 crore.

Operating EBITDA climbed 55.8 per cent to Rs 43 crore from Rs 27.6 crore, reflecting tighter operating controls and improved inventory efficiency. The company also reduced outright inventory by Rs 78 crore and net debt by Rs 82 crore, advancing its stated goal of becoming net-debt free.

Festive shift masks growth

Reported same-store sales growth (SSSG) moderated to 2 per cent, compared to 6 per cent in the preceding quarter and 9.4 per cent a year earlier. The slowdown was partly attributable to the festive calendar, which shifted key Durga Puja, Navratri and Diwali purchases into the September quarter. On a festive-adjusted like-for-like basis, sales growth stood at 7 per cent, indicating stronger underlying demand than the headline SSSG figure suggests.

The distinction is important for department store operators, whose quarterly performance is sensitive to the timing of festive purchases. However, the adjustment does not eliminate the broader challenge of uneven discretionary spending, particularly among middle-income consumers.

Shoppers Stop’s share price fell 5.4 per cent to Rs 363.15 following the results, reflecting market concerns over the reported slowdown.

Table: Shoppers Stop quarterly results

Operating & financial details	Year ago quarter	Latest quarter (Q2)	Change
Consolidated Gross Revenue	Rs 1,512 Cr	Rs 1,618 Cr	+7.0%
Revenue from Operations (Ind-AS)	Rs 1,260 Cr	Rs 1,370 Cr	+8.7%
Consolidated Operating EBITDA	Rs 27.6 Cr	Rs 43.0 Cr	+55.8%
Consolidated Net Profit / (Loss)	(Rs 7.0 Cr)	Rs 6.0 Cr	Operating turnaround (+Rs 13 Cr)
Same-Store Sales Growth (Reported)	9.40%	2.00%	Moderated by calendar timing
Like-for-Like (Festive-Adjusted)	Baseline	7.00%	Underlying baseline resilience
Outright Inventory Compression	Baseline	Down Rs 78 Cr	Strict working capital release
Net Debt Reduction	Baseline	Down Rs 82 Cr	Target: Net-debt free by Q3
Department Store Format Sales	Rs 1,252 Cr	Rs 1,302 Cr	+4.0% (7% Festive LFL)
Dedicated Beauty Category Sales	Rs 311 Cr	Rs 367 Cr	+18.0%
Global SS Beauty Distribution	Rs 105 Cr	Rs 168 Cr	+59.0% (All-time quarterly high)
INTUNE Value-Fashion Revenue	Rs 68 Cr	Rs 72 Cr	+6% Festive LFL

Note: Gross retail turnover and statutory revenue from operations are different accounting measures and should not be treated as interchangeable.

Premium sales lift ticket values

The department store business generated Rs 1,302 crore in sales, up 4 per cent year-on-year. On a festive-adjusted basis, like-for-like growth reached 7 per cent. Growth was accompanied by higher customer spending per transaction. The average selling price rose 9 per cent to Rs 1,903, while average transaction value increased 8 per cent to Rs 5,527. Items per transaction remained unchanged at 2.9.

The figures suggest that higher price realisation, rather than an increase in the number of items purchased, supported sales growth. This places greater importance on premium merchandise, brand mix and full-price selling as retailers seek to protect margins in a price-sensitive market.

Premium brands accounted for 73 per cent of department store sales, with the contribution reportedly expanding by 390 basis points year-on-year. Shoppers Stop also reduced inventory in its private apparel labels by 26 per cent, while increasing selected higher-priced offerings, including its Bandeya ethnicwear range and Fratini Girl collection.

Beauty leads growth

Beauty remained the strongest growth category. Dedicated beauty retail sales rose 18 per cent to Rs 367 crore, with fragrance demand increasing 35 per cent. Global SS Beauty Brands, the company's distribution business, recorded quarterly sales of Rs 168 crore, up 59 per cent and its highest quarterly level to date. The performance highlights the contribution of prestige beauty and fragrance to the retailer's wider portfolio.

Shoppers Stop continued to expand its luxury beauty presence through dedicated boutiques for fragrance brand CREED in New Delhi and Japanese skincare label Shiseido in Bengaluru. It also undertook a nationwide Versace Crystal Emerald activation across 400 touchpoints.

The company has been consolidating its digital operations by integrating the standalone SSBeauty.in portal into its primary online storefront. This move helped reduce operating losses associated with the digital business by ₹8 crore during the quarter, according to the supplied figures.

Hard to ignore

Loyalty drives repeat sales

Customer retention remains central to Shoppers Stop's strategy. Its First Citizen programme has 14 million registered members, who contributed 84 per cent of overall sales during the quarter.

The premium Black Card segment added 40,000 members, with enrolments rising 24 per cent year-on-year. Black Card customers recorded a 66 per cent repeat-purchase rate and contributed 22 per cent of total retail sales.

A co-branded credit card partnership with RBL Bank adds reward points, airport lounge access and dedicated personal shopping facilities to the loyalty proposition. The strategy is designed to encourage repeat spending among high-value customers rather than relying exclusively on costly customer acquisition.

Refer

Expansion stays measured

Shoppers Stop spent Rs 39 crore on capital expenditure during the quarter, opening four department stores, two beauty boutiques and one MAC shop-in-shop. First-half additions reached 15 outlets, with capital expenditure of Rs 83 crore.

Its value-fashion format, INTUNE, generated Rs 72 crore in revenue and recorded 6 per cent festive-adjusted like-for-like growth. Inventory reductions of Rs 33 crore in the format also supported working capital discipline.

Despite the operating improvement, financial pressures remain. Finance costs stood at Rs 74.7 crore, leaving limited room for error as the retailer navigates the post-festive period. Rising occupancy costs and competition across apparel and beauty could further constrain profitability.

The next phase of the turnaround will depend on sustaining sales growth without excessive discounting, maintaining inventory productivity and converting working capital savings into durable cash-flow improvement. Achieving net-debt-free status will be a key test of whether the latest quarter marks a sustained recovery rather than a temporary improvement.

Easitex-Textiles Sustainability

Retail 26-10-23

Shoppers Stop posts Rs 6 cr profit as beauty sales grows

Myntra strengthens leadership to expand private labels

Myntra has expanded its senior management framework by appointing Jayant Prasad as Senior Director-Brand Management. Bringing over two decades of commercial experience across menswear, product development, and multi-channel retail operations, Prasad steps into overseeing buying and design functions specifically across private-label and licensed western wear and sportswear lines. His prior leadership record includes sustained tenures at Arvind Fashions and Aditya Birla Fashion and Retail (ABFRL), where he executed channel development strategies for major apparel labels.

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Market expansion via direct brand equity

The strategic appointment signals a broader push by fashion platforms to elevate direct-to-consumer and in-house merchandise margins. Industry dynamics indicate, proprietary digital labels yield higher gross margins than third-party vendor listings, making executive sourcing and product creation expertise vital for sustainable growth.

Scaling proprietary fashion architecture requires blending deep supply chain expertise with real-time consumer intelligence, says Rohit Sharma, Principal Consultant, Fashion Commerce Advisory. Apparel platforms are treating in-house portfolio building as a primary levers for unit economics optimization, he adds.

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A market-leading digital fashion destination

Myntra operates as India's premier online fashion and lifestyle platform, specializing in apparel, footwear, beauty, and accessories. Targeting urban and regional fashion consumers, the platform aggressively expands its private-label portfolio alongside international licensed brands. Achieved profitability on a monthly EBITDA level while sustaining double-digit revenue expansion in FY26. Originally founded in 2007 as a B2B personalization business, the venture evolved into a market-leading digital fashion destination.

Easitex-Textiles Sustainability

Retail 26-10-22

Myntra strengthens leadership to expand private labels

Mall space crunch pushes fashion retailers to India’s high streets

India’s fashion and apparel retailers are taking their expansion plans to high streets as a shortage of Grade-A mall space reshapes the country’s retail real-estate market. Gross retail leasing inside shopping malls across India’s top eight commercial centres fell 38 per cent year-on-year to 0.71 million sq ft in the July-September quarter, according to real estate advisory Cushman & Wakefield. The decline, however, is less a reflection of weak consumer demand than of constrained premium supply. Total retail absorption across Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Kolkata, Pune and Ahmedabad fell a modest 4.4 per cent to 2.22 million sq ft in Q3.

High streets moved in the opposite direction. Leasing across prominent open-air retail corridors jumped 33 per cent to 1.51 million sq ft, accounting for 68 per cent of total quarterly absorption, compared with just 32 per cent for malls. The shift is giving fashion, apparel and lifestyle brands an alternative route to store expansion as premium shopping-centre inventory becomes increasingly difficult to secure.

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High streets take lead

Grade-A malls in Tier-I cities are operating near peak occupancy, with average vacancy falling to 4.8 per cent after three consecutive quarters without fresh completions. For retailers planning aggressive store additions, this has translated into longer waits for premium ground-floor and anchor locations. Rather than defer expansion, brands are increasingly turning to established high-street micro-markets.

“India’s retail market continues to demonstrate steady underlying occupier interest, even as quality retail space remains constrained,” says Gautam Saraf, Executive Managing Director, Mumbai and New Business, Cushman & Wakefield. Domestic retailers accounted for 86.3 per cent of Q3 absorption, or 1.92 million sq ft, while international brands contributed 13.7 per cent. Fashion, apparel and lifestyle remained the dominant demand drivers, together with food and beverage, accounting for more than 57 per cent of transactions.

SUSTAINABILITY

Delhi-NCR leads

The city-level numbers underline the uneven availability of quality retail space. Delhi-NCR remained the largest market, with 0.55 million sq ft of absorption, while Hyderabad recorded the strongest growth among major markets.

Table: Retail space by cities

City market	Gross leasing volume (Q3) mn sq. ft	Market share ( per cent)	YoY performance & dynamics
Delhi-NCR	0.55	24.9	Up 7.9 per cent YoY; high streets in Khan Market and Gurugram absorb key fashion flagships.
Hyderabad	0.45	20.3	Up 18.3 per cent YoY; rapid commercial retail corridor take-up in Jubilee Hills and Gachibowli.
Mumbai	0.35	15.7	Down 40.8 per cent YoY; acute space scarcity; Linking Road and Fort see sharp rent spikes.
Bengaluru	0.24	10.8	Steady expansion led by Indiranagar, Koramangala, and outer ring road retail.
Pune	0.21	9.5	Absorption dipped alongside Mumbai due to limited fresh mall supply additions.
Chennai	0.18	8.1	Active take-up across Cathedral Road, RK Salai, and key central commercial strips.
Ahmedabad	0.13	5.8	Moderate absorption driven by value-fashion expansion on standalone avenues.
Kolkata	0.10	4.5	Jumped 68.8 per cent YoY from a lower base ahead of festive Puja season merchandise rollouts.

Delhi-NCR and Hyderabad together accounted for 45.2 per cent of quarterly absorption. Hyderabad’s 18.3 per cent year-on-year growth was supported by rapid take-up across Jubilee Hills and Gachibowli. Mumbai, in contrast, recorded a 40.8 per cent decline as limited availability constrained transactions. Prime corridors such as Linking Road and Fort are also witnessing sharp rental increases.

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Visibility wins

For fashion retailers, high streets offer something very valuable: speed. Standalone properties can enable brands to launch stores without waiting for new mall projects or navigating extensive shopping-centre fit-out requirements. They also offer direct street visibility, independent operating hours and easier access for consumers.

Costs are also changing the equation. High-street leases can have simpler commercial structures than malls, where retailers face common-area maintenance charges, central air-conditioning costs and revenue-sharing arrangements. Prime open-air locations have recorded average rental appreciation of 6.8 per cent year-on-year, prompting brands to secure properties through longer-term agreements before rents rise further.

Retailers are adapting store formats accordingly. Trent has expanded standalone Zudio and Westside formats, including multistorey corner properties positioned along high-footfall transit corridors. Aditya Birla Fashion and Retail and Reliance Retail are also using high streets for womenswear, menswear and footwear concepts in markets such as Indiranagar, Linking Road and South Extension.

EASITEX

Malls still matter

The high-street surge does not signal the decline of malls. Instead, retailers are moving towards a two-format strategy. Around 12.7 million sq ft of Grade-A mall inventory is expected to be delivered through 2028, led by Delhi-NCR, Bengaluru and Chennai. But only 1.35 million sq ft is projected to be completed this year, keeping near-term supply tight.

This is pushing retailers to use each format for a different purpose: high streets for everyday visibility, accessibility and frequency, and malls for scale, experiential retail and broader consumer engagement. For brands, the practical approach is about having the right mix of high streets for visibility and everyday footfall, and malls for scale and a more complete consumer experiences, say analysts.

Milin Rohinesh, Head of Retail-India at Cushman & Wakefield, opines the definition of quality retail is also evolving towards curated, experience-led destinations. For apparel companies, however, the next challenge will be economics. As more retailers compete for limited high-street inventory, rising rents could begin to pressure store-level margins.

India’s retail expansion is therefore moving outdoors not because malls have lost relevance, but because the shortage of premium mall space is making the high street the fastest available route to growth.

Easitex-Textiles Sustainability

Retail 26-10-21

Mall space crunch pushes fashion retailers to India’s high streets

Thrifting goes mainstream as India’s second-hand fashion market gains ground

India’s second-hand apparel market is moving from the margins of fashion retail to a mainstream consumption channel, with a sharp rise in online searches signalling growing consumer intent around thrift, resale and circular fashion. Google search data shows queries for ‘thrifting’ reached an all-time high over the past 12 months. Searches for ‘how to thrift?’ grew 850 per cent, while ‘thrift store near me’ rose 600 per cent, pointing to a shift from passive curiosity to active purchase discovery.

The trend is no longer restricted to India’s largest fashion markets. Delhi-NCR, Mumbai, Bengaluru, Hyderabad, Chennai and Kolkata continue to account for significant search activity, but cities such as Kochi, Dehradun, Guwahati and Jaipur are emerging as new centres of interest.

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The increase in basic discovery searches is equally significant. Queries for ‘what is thrift store’ rose 1,000 per cent, while vernacular searches such as ‘thrift meaning in Hindi’ indicate that second-hand fashion is attracting first-time consumers beyond its traditional urban, digitally savvy audience.

Indicator	Growth/Value	Industry context
Google Search: "Circular Fashion"	+2,500% YoY	Highest surging apparel query category
Google Search: "How to Thrift"	+850% YoY	Broadening consumer education & onboarding
Google Search: "Thrift Store Near Me"	+600% YoY	High-intent footfall and localized online discovery
India Second-Hand Apparel Market Valuation	$3.00 bn (growing to $9.11 bn by 2032)	Expanding at a projected 13.04% CAGR
Wardrobe Share (Global Recommerce Benchmark)	28% of Closet Volume	Resale expanding 2x–3x faster than firsthand fashion

Search becomes a retail signal

The increase is being reinforced by economics. According to Credence Research, India’s second-hand apparel market is projected to grow from $3 billion in 2023 to $9.11 billion by 2032, at 13.04 per cent CAGR. Globally, Boston Consulting Group estimates the second-hand fashion market is growing at two to three times the rate of first-hand fashion. Affordability and value remain major purchase drivers, but recommerce is also becoming a customer-acquisition route for fashion brands, particularly among younger consumers.

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Streetwear drives demand

Product-level search behaviour suggests that consumers are not simply looking for cheaper clothing. They are seeking distinctive products unavailable through conventional mass-market retail. Jackets lead thrift-related apparel searches, followed by casual tops, footwear and denim. Y2K-inspired streetwear including jorts, track pants and oversized baggy jeans is generating strong inventory velocity.

Premium vintage is also gaining traction. Searches and enquiries around vintage sports jerseys, heritage saris, retro graphic T-shirts and pre-owned leather accessories point to an emerging market for archive fashion. This changes the proposition for retailers. Pre-owned fashion is no longer positioned solely as discounted merchandise. Vintage and limited-run products offer scarcity, differentiation and personal styling opportunities that standardised fast-fashion assortments cannot easily replicate.

EASITEX

Sustainability meets value

The growth of recommerce is being driven by two parallel forces: consumer value consciousness and the fashion industry’s growing circularity agenda. Searches for ‘circular fashion’ jumped 2,500 per cent over the year, while sustainable fashion increased 120 per cent. The numbers suggest that sustainability is moving beyond corporate messaging and entering the consumer discovery funnel.

BCG research also indicates that around 80 per cent of second-hand fashion buyers are motivated by affordability and value. Recommerce can therefore appeal simultaneously to price-sensitive shoppers and consumers seeking more sustainable consumption.

For Gen Z, the proposition extends further. Secondary platforms can act as discovery channels for emerging labels, allowing shoppers to experiment with brands, styles and categories at lower entry prices. India’s market offers considerable headroom. With the domestic second-hand apparel market projected to triple by 2032, resale could increasingly become part of the mainstream fashion-retail architecture rather than an adjunct to it.

Hard to ignore

Technology tackles the supply gap

Demand, however, is only one side of the equation. India’s recommerce supply chain remains fragmented, with inventory spread across Instagram sellers, flea markets, independent thrift stores and informal sorting networks.

Scaling the category requires greater consistency in authentication, condition grading, sizing, cataloguing and reverse logistics. Technology is beginning to address these constraints through image recognition, visual search, automated grading, predictive sizing and digital authentication.

For organised retailers, this infrastructure could make formal buy-back, repair and resale programmes easier to integrate with existing stores and e-commerce platforms. Instead of building separate businesses, brands can potentially use their existing customer and retail networks to create closed-loop fashion ecosystems.

Refer

Brands eye resale as acquisition

The emerging opportunity is reflected in the rise of specialised technology platforms. Founded in 2021, Relove offers circular-commerce infrastructure that enables fashion and designer brands to integrate peer-to-peer resale into their existing e-commerce storefronts. The platform has worked with domestic labels across organised apparel and premium fashion, with plans to expand its branded resale infrastructure into Southeast Asia following double-digit GMV growth.

For established retailers, the strategic attraction is increasingly clear. Resale can extend the life of products, create additional consumer touchpoints and potentially bring younger shoppers into a brand ecosystem.

India’s thrift boom therefore is more than a change in consumer taste. The sharp rise in search intent suggests the emergence of a new retail behaviour one where affordability, individuality and circularity converge. As technology standardises fragmented supply and organised retailers begin experimenting with resale, second-hand fashion could evolve from a niche social-commerce phenomenon into a meaningful component of India’s next retail cycle.

Easitex-Textiles Sustainability

Retail 26-10-16

Thrifting goes mainstream as India’s second-hand fashion market gains ground

Ed-a-Mamma marks six-year milestone with aggressive omni-channel retail expansion

As conscious consumerism reshapes the domestic retail ecosystem, Alia Bhatt’s lifestyle label Ed-a-Mamma marks its sixth anniversary this October, transitioning from a digital-first kidswear venture into a robust multi-category apparel powerhouse. The brand has capitalized on rising demand for sustainable children’s fashion, scaling its exclusive brick-and-mortar storefronts across Tier-I and Tier-II Indian cities while reinforcing its digital footprint. Industry analysts note, the label's steady valuation growth mirrors a broader market preference for homegrown, eco-friendly textile alternatives.

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Strategic diversification and global aspirations

Building upon its core children’s wear and recently introduced infant care lines, leadership is setting its sights on broader demographic segments, including maternity wear and lifestyle accessories. We are thrilled by the community response over the past six years as we deepen our market penetration, shared a senior retail strategist at the company. To sustain momentum, the enterprise is evaluating strategic entry into international territories, with the Gulf Cooperation Council (GCC) region slated as a primary target for upcoming fiscal expansion, backed by robust supply chain optimizations and localized marketing campaigns.

Refer

Specializing in conscious children’s clothing

Founded by prominent actor and entrepreneur Alia Bhatt, Ed-a-Mamma is a purpose-driven sustainable lifestyle and apparel brand specializing in conscious children’s clothing, infant care, and mother-centric products. Operating primarily across India through major e-commerce portals and expanding exclusive brick-and-mortar retail outlets, the company targets urban families seeking eco-friendly, ethically produced garments. Backed by strong financial performance and strategic retail partnerships, the brand focuses on scaling its domestic footprint, expanding into international markets like the GCC, and broadening its sustainable product portfolio.

Easitex-Textiles Sustainability

Retail 26-10-22

Ed-a-Mamma marks six-year milestone with aggressive omni-channel retail expansion

Advertising rush drives digital shift as Myntra re-aligns monetization

Myntra Designs is undergoing a structural shift toward high-margin digital services, even as top-line figures reflect operational adjustments. The Flipkart-owned fashion e-commerce major recorded a 13.5 per cent decline in consolidated operational revenue to Rs 5,242.5 crore in FY26, down from Rs 6,063.8 crore in FY25. The contraction stems primarily from a planned drop in logistics and shipping service revenues - which fell to Rs 1,119.2 crore from Rs 2,390.5 crore. Conversely, core marketplace operations expanded 12 per cent to Rs 4,123.3 crore, lifted by strong demand for brand visibility solutions.

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Ad income expansion cushions higher promotional outlays

Advertising revenue increased by 35.2 per cent Y-o-Y to reach Rs 1,236.4 crore, proving that apparel brands are allocating larger promotional budgets to secure digital storefront placement. Total expenses rose marginally by 0.6 per cent to Rs 5,757.7 crore, driven by a 12.8 per cent jump in marketing and business promotion spending to Rs 3,059.8 crore, while direct logistics expenditures declined by 14 per cent to Rs 1,841 crore. The platform swung to a net loss of Rs 579 crore, reversing the deferred-tax-led Rs 548 crore profit of FY25. Leadership under newly appointed head Sharon Pais is now positioning the company to hit 100 million monthly active users in FY27.

SUSTAINABILITY

E-commerce monetization evolution

Fashion e-commerce platforms are re-allocating capital toward retail media networks, monetising high consumer intent to protect underlying margins, notes a Bengaluru-based Digital Retail Strategist.

EASITEX

Myntra retail ecosystem

Myntra operates an e-commerce platform specializing in apparel, footwear, and beauty products across major Indian cities. Established in 2007, the Flipkart subsidiary is expanding quick-commerce fashion deliveries and high-margin ad solutions, targeting 100 million active users in FY27 following Rs 5,242.5 crore FY26 revenues.

Easitex-Textiles Sustainability

Retail 26-10-19

Advertising rush drives digital shift as Myntra re-aligns monetization

Direct-to-consumer fast-fashion brands accelerate offline footprint to capture festive demand

Fast-fashion and ethnic wear digital native brands are expanding brick-and-mortar storefronts to capture physical retail traffic during high-volume shopping periods. Fast-fashion ethnic label Libas is opening nine exclusive brand outlets (EBOs) across five major urban hubs - including Bengaluru, Jaipur, Kanpur, Noida, and Jabalpur - during the nine days of Navratri. Retail analysts note that deploying physical storefronts before peak festive cycles allows direct-to-consumer (D2C) brands to maximize high-margin seasonal sales, accelerate inventory turnover, and lower customer acquisition costs compared to purely digital channels. Sidhant Keshwani, Founder and CEO, Libas, states, offline retail serves as a core operational lever to expand market access, address localized regional preferences, and ensure sustainable scale as the company targets an annualized revenue run-rate milestone of Rs 1,000 crore.

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Transitioning to omnichannel models for long-term margin stability

The push into brick-and-mortar ecosystems reflects a broader structural evolution across India's fast-fashion market, as digital labels scale physical networks to shield profitability from online fulfillment expenses. Following the launch of 28 outlets in FY26, Libas is targeting over 50 store openings in FY27 to build a network of over 100 standalone locations. Retail strategists emphasize that integrating physical outlets with e-commerce platforms optimizes supply chain fulfillment, improves inventory turnover rates, and protects gross margins amid escalating digital ad spend across Tier-I and Tier-II markets.

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Tech-enabled fast fashion operations

Established in 2013 as a digital-first ethnic label, Libas operates as a tech-enabled ultra-fast fashion brand offering women's apparel, kurta sets, and occasionwear. Targeting Rs 1,000 crore in FY27 revenue, the company scales via an omnichannel strategy across website sales, major e-commerce platforms, and over 55 EBOs.

Easitex-Textiles Sustainability

Retail 26-10-16

Direct-to-consumer fast-fashion brands accelerate offline footprint to capture festive demand

Festive fashion demand rises across non-metro digital retail

India's festive retail season opened with a sharp rise in digital consumer traffic, driven primarily by apparel and beauty adoption across Tier-II & III cities.A fresh report from Bank of America Global Research highlights, Flipkart achieved record daily active users during the initial leg of its flagship Big Billion Days campaign.Non-metro markets generated approximately 60 per cent of total consumer demand, while new customer onboarding expanded by 34 per cent.

Specialized fashion vertical Myntra registered a 40 per cent jump in daily active users relative to September averages, reaching 93 million monthly active users, whereas Nykaa Fashion recorded a 24 per cent Y-o-Y growth to 17 million active users. Tier-II & III consumer markets are transforming from secondary growth drivers into primary demand anchors for festive fashion, observes Sachin Saluja, Senior E-Commerce Analyst, BofA Research.

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Credit integration unlocks high-value basket spending

To capture growing fashion appetite amid shifting macroeconomic pressures, major platforms are leveraging retail financing tools, including zero-cost flexible payment plans and co-branded credit instruments. Early data shows customer conversion across premium apparel and lifestyle segments rose significantly as buyers utilized structured installment plans to manage larger ticket sizes. Consequently, traditional e-commerce marketplaces outperformed instant delivery channels in lifestyle categories, as consumers prioritized merchandise range, promotional discounting, and structured financing over quick-commerce speed during seasonal wardrobe upgrades.

Refer

Festival retail focus: Flipkart commerce operations

Founded in 2007, Flipkart is a leading Indian e-commerce marketplace spanning fashion, electronics, and general merchandise. Focusing primarily on domestic retail, it targets rapid volume growth in non-metro regions via its platform and Shopsy vertical. Supported by parent Walmart, Flipkart continues scaling operations while narrowing marketplace losses through operational efficiency.

Easitex-Textiles Sustainability

Retail 26-10-21

Festive fashion demand rises across non-metro digital retail

Retail giants scale localization strategies

Global intimate apparel brands are increasingly shifting toward hyper-localized promotional strategies to secure market share in high-growth emerging economies. Victoria's Secret accelerated this transition by deploying Bollywood celebrity Triptii Dimri as its maiden Indian ambassador, matching international luxury merchandising with regional star power. Industry analysts note that leveraging domestic icons significantly enhances consumer resonance within the subcontinent’s expanding discretionary retail sector.

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Global footprint expansion

The strategic alignment mirrors broader commercial efforts by multinational conglomerates to capture rising middle-class consumer spending across South Asia. According to recent retail data, premium intimate wear sales in urban clusters have surged by over fifteen percent year-on-year, driven by wider accessibility and localized digital marketing. "Aligning with influential regional figures allows international labels to translate global brand equity into domestic retail relevance," stated retail strategist Alok Sharma.

EASITEX

Scaling digital-first retail networks

Victoria’s Secret operates as a premier global specialty retailer offering modern lingerie, sleepwear, and beauty products. Targeting urban consumers across North America, Europe, and Asia, the brand focuses on scaling digital-first retail networks and localized celebrity partnerships. Experiencing renewed financial recovery through targeted merchandising transformations, the company traces its historical roots to its founding in San Francisco in 1977.

Easitex-Textiles Sustainability

Retail 26-10-19

Retail giants scale localization strategies

Ethnic wear retailers turn to experiential out-of-home marketing to drive store footfall

Men’s ethnic fashion labels are restructuring experiential marketing playbooks to gain early mindshare in India’s Rs 15,000 crore festive and wedding apparel market. In a strategic move executed via Madison Media, Ethnix by Raymond launched its 'Mandap on Wheels' outdoor campaign across high-density corridors in Gurgaon. By staging a mobile, fully decorated wedding mandap complete with live baraat celebrations along urban transit routes, the brand created direct consumer engagement while steering footfall directly toward nearby flagship retail outlets. Vivek Das, CEO, Madison Media Omega, notes, experiential street activations combined with localized digital amplification allow retail brands to interrupt routine commutes and convert high-impact visual recall into immediate store visits.

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Capturing market share in organized celebrationwear

Traditional retail formats are adapting promotional models to counter digital customer acquisition cost pressures. Retail strategists observe, immersive physical activations help organized men's ethnic brands differentiate themselves in a market long dominated by unorganized regional players. By routing experiential displays near high-street storefronts, retailers optimize footfall traffic, enhance seasonal conversion rates, and strengthen customer lifetime value during peak buying periods.

EASITEX

Men’s festive fashion expansion

Launched by Raymond Lifestyle, Ethnix by Raymond is an ethnic menswear brand specializing in sherwanis, kurtas, jackets, and occasionwear. The label targets rapid footprint expansion, growing to over 100 exclusive stores across key metro and Tier-I cities. Backed by strong financial performance within Raymond’s retail apparel division, Ethnix focuses on scaling its standalone store network and digital commerce presence nationwide.

Easitex-Textiles Sustainability

Retail 26-10-16

Ethnic wear retailers turn to experiential out-of-home marketing to drive store footfall

Ad monetization rises by 35% as fashion retailer rebalances growth engines

India’s digital apparel landscape is witnessing a structural shift in e-commerce unit economics. Platform ad monetization is emerging as a critical margin cushion while primary logistics top-lines contract.

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Platform monetization counters operational drag

Myntra’s operating revenue declined by 13.5 per cent Y-o-Y to Rs 5,242.5 crore in FY26, largely dragged down by a 53.2 per cent contraction in logistics services income to Rs 1,119.2 crore.However, the fashion marketplace expanded its high-margin retail media engine.In-app advertising and seller promotional revenue increased by 35.2 per cent to Rs 1,236.4 crore, now accounting for 23.6 per cent of total operational revenues.Marketplace commissions also sustained steady momentum, rising 3 per cent to Rs 2,657.3 crore.

Hard to ignore

Marketing intensity escalates profitability pressures

To defend market share against emerging quick-commerce fashion channels and specialized D2C players, the platform allocated Rs 2,326.5 crore toward advertising and business promotions - a 10.5 per cent uptick.Marketing expenses absorbed 41 per cent of total operational costs.Consequently, lower logistics volumes coupled with sustained promotional intensity pushed the retailer into an EBITDA loss of Rs 435 crore, alongside a net loss of Rs 579.4 crore for the fiscal year.

Industry analysts note, while pure-play fulfillment income is rationalizing across major fashion platforms, retail ad network expansion offers an avenue for structural margin recovery as brand partnerships deepen.

Refer

Market footprint & outlook

Flipkart-owned Myntra is a premier Indian e-commerce marketplace specializing in fashion, beauty, and lifestyle categories. Founded in 2007 as a personalized gift portal, it expanded into a fashion aggregator before its acquisition in 2014. The company targets Tier-I to Tier-III markets, expanding its international brand catalogue, private labels, and quick-delivery fashion verticals.

Despite current FY26 operational headwinds, long-term growth plans center on monetizing vendor advertising and deepening platform brand partnerships.

Easitex-Textiles Sustainability

Retail 26-10-21

Ad monetization rises by 35% as fashion retailer rebalances growth engines

KVIC captures youth market via digital platforms to accelerate revenue growth

The Khadi and Village Industries Commission is restructuring its marketing channels to target urban youth and modern apparel consumers. Inaugurating ‘Khadi Mahotsav-2026’ in Mumbai, Manoj Goel, Chairman, KVIC introduced new digital outreach initiatives, including the ‘Baat Khadi Ki’ podcast, designed to reposition hand-spun textiles as contemporary fashion. Featuring 77 manufacturing units from 12 states through October 31, the exhibition offers targeted retail discounts of up to 20 per cent on Khadi apparel to spur direct purchases among Gen-Z shoppers.

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Commercial trajectory and retail scale

Shifted consumer preference toward sustainable, locally produced fabrics has expanded the commercial scale of India's indigenous textile sector. Annual turnover across Khadi and Village Industries reached Rs 1.87 lakh crore ($22.4 billion) in FY 2025–26, with standalone Khadi textile sales rising to Rs 7,869 crore. A major Mumbai-based retail outlet recently adopted digital cataloging and modern visual merchandising, reporting a 22% increase in footfall among buyers under age 30. Integrating digital supply networks while maintaining handloom capacity remains an operational priority. Modernizing presentation and digital engagement across hand-spun fabrics is necessary to capture expanding youth apparel demand, states Manoj Goel, Chairman, KVIC.

EASITEX

KVIC operational footprint

Established under the Parliament Act of 1956, the Khadi and Village Industries Commission develops non-farm employment across rural India through traditional textiles and cottage industries. Operating under the MSME Ministry, KVIC aims for a ₹2.51 lakh crore turnover target by expanding youth-centric apparel lines and modern retail partnerships.

Easitex-Textiles Sustainability

Retail 26-10-18

KVIC captures youth market via digital platforms to accelerate revenue growth

Fast-fashion giant re-engineers store strategy as mid-market competition escalates

International retail conglomerates are reassessing fast-fashion footprints in India as rising operational overheads and margin erosion alter growth trajectories. Inditex Trent Retail India (ITRIPL), which operates Zara’s domestic business, reported a 31.9 per cent decline in net profit to Rs 204.14 crore for FY26, accompanied by a 1.1 per cent decline in revenue from operations to Rs 2,749.28 crore. Industry strategists note, while lower-priced competitors like Zudio expand rapidly in value segments, high-end fast-fashion labels must shift emphasis toward larger flagship experiences, streamlined inventory turnover, and curated premium collections to maintain store productivity across tier-one metro hubs.

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Navigating supply chain dependencies and store efficiency

Maintaining gross margins remains a strategic challenge for international franchisers operating under centralized sourcing frameworks. Retail analysts observe that total dependence on global supply channels limits localized price flexibility amid shifting consumer discretionary spend. To protect profitability across its 22 flagship locations, Zara is prioritizing omnichannel digital fulfillment, localized logistics optimization, and high-margin seasonal drops. Executive leadership maintains that optimizing store sizes and integrating digital platform sales will prove essential to defending retail market share against agile global and domestic rivals.

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Optimizing physical and digital footprint to boost earnings

Operated through a joint venture between Spain’s Inditex Group and Tata’s Trent Ltd, Zara India markets premium fast-fashion apparel and accessories across 22 flagship locations. Generating Rs 2,749 crore in FY26 revenue, the brand plans to optimize physical retail footprints and expand digital channels to boost earnings across major urban markets.

Easitex-Textiles Sustainability

Retail 26-10-16