Retail brands including Manyavar, Reliance Trends, Raymonds, Pantaloons are opening their stores in spiritual cities like Ayodhya, Varanasi, Amritsar, Puri, Tirpupti and Ajmer.

As per a report by real estate consultant CBRE, fashion retail chains are capitalising on the surge in spiritual tourism across 14 cities in India.

Titled, 'Decoding Real Estate through the Spiritual Tourism Lens', the report identifies Amritsar, Ajmer, Varanasi, Katra, Somnath, Shirdi, Ayodhya, Puri, Tirupati, Mathura, Dwarka, Bodh Gaya, Guruvayur, and Madurai as key cities witnessing this retail boom.

Catering to the growing tourist population, many retail brands are setting up stores in both established mall clusters and high-street locations in these cities.
These include Manyavar, Reliance Trends, Raymonds, Market99 and Pantaloons who have opened their stores in Ayodhya while Varanasi is also witnessing the a number of new stores being set up by brands like Zudio, Reliance Trends, Manyavar, Pantaloons and Shoppers Stop.

According to Anshuman Magazine Chairman & CEO, India, South-East Asia, Middle East & Africa, CBRE, this expansion in store network is being boosted by the rapid development of spiritual tourism in India alongwith government initiatives to boost tourism and improve connection between pilgrimages.

The rise of online retail platforms offering easy access to faith-based products and services is also boosting this growth, adds Magazine.

Ram Chandnani, Managing Director, Advisory & Transaction Services, CBRE India, notes, guided by a commitment to cater to the unique needs of spiritual travellers, these initiatives aim to bolster infrastructure, safeguard heritage sites, and ultimately drive regional economic growth.

A prominent e-commerce player, Myntra has recently acquired the distribution and management rights for the esteemed UK-based fashion brand, Next. This strategic move grants Myntra the exclusive rights to distribute Next's products and establish branded stores across India.

Under the franchise agreement, Myntra's B2B entity will spearhead the establishment of Next-branded outlets throughout the country. These stores will offer an extensive array of apparel for men, women, and children, both in physical locations and online.

In light of this collaboration, Next has outlined plans to inaugurate 8-10 stores in key Indian cities such as Delhi, Mumbai, and Bengaluru over the coming years.

Notably, since its debut on the Myntra platform last year, the brand has witnessed a
significant surge in demand, effectively doubling its presence.

Simon Wolfson, CEO, Next, remarks, his company is hugely excited to be working with Myntra in one of the world’s fastest-growing markets and looks forward to seeing what can be achieved together.

Furthermore, Next aims to introduce a selection of its owned brands, including Reiss, Lipsy, Joules, FatFace, Jojo Maman Bebe, Love and Roses, and Friends Like These, to the Indian market through the Myntra platform. This expansion reflects Next's commitment to catering to the diverse fashion preferences of Indian consumers.

Headquartered in Bengaluru, men's fashion and apparel brand, Snitch is poised to inaugurate its largest Indian store in the city.

Spanning an expansive 4,000 sq ft, this would be the brand's fourth physical outlet in Bengaluru, strategically located in the bustling commercial hub of Brigade Road.

Siddharth Dungarwal, Founder & CEO, Snitch, says, the expansion aligns with the brand’s vision to offer personalised interactions, aiding customers in making informed purchase decisions.

The company's growth trajectory has been significant, with plans for aggressive offline expansion highlighted by its recent appointments of key personnel. Varun Muralidharan, formerly associated with Bestseller India, assumes leadership in retail operations, while Mayur Ashtekar from Rare Rabbit spearheads business development and offline expansion efforts.

A notable addition to the team is Maruthy Ramgandhi, appointed as the first Chief Technology Officer (CTO), tasked with steering product innovation to enhance customer experiences.

Snitch's financial performance underscores its upward trajectory, with a substantial increase in gross merchandise value (GMV) from Q1 to Q4 of fiscal year 2023, reaching 400 crore GMV. The company anticipates further growth, projecting a GMV of Rs 600 crore by the end of fiscal year 2024. Quarterly revenue has consistently surged by 30-35 per cent over the past two years, a trend expected to accelerate with the brand's intensified focus on offline retail.

Established in 2020 as a direct-to-consumer (D2C) brand, Snitch gained prominence by securing an all-Shark Deal on Shark Tank India Season 2. Additionally, the brand successfully raised Rs 110 crore in Series A funding from SWC Global and IvyCap Ventures, solidifying its position in the market.

Renowned western wear brand Beverly Hills Polo Club has expanded its store network in India. The brand has launched two new shop-in-shops In partnership with Apparel Group India. These new shop-in-shops are located in Shoppers Stop’s outlets in Hyderabad and Ahmedabad respectively.

Beverly Hills Polo Club’s third shop-in-shop is located in Shoppers Stop, Ahmedabad. It showcases the brand's distinctive range of apparel and accessories besides offering a diverse selection of men's casual and semi-formal wear.

Meanwhile, the brand’s shop-in-shop in Hyderabad is nestled within the Shoppers Stop department store at Inorbit Mall. The store offers patrons a comparable product range, featuring vibrant polo shirts and trendy denim selections.

This current expansion of Beverly Hills Polo Club follows the successful launch of its inaugural shop in shop in Mumbai's R City Mall earlier this year. Through this expansion, the brand aims to increase the brand’s visibility among Indian consumers.

Headquartered in the UAE, Apparel Group offers a diverse portfolio of brands, including Charles & Keith, Skechers, Aldo, Inglot Cosmetics, and Tommy Hilfiger, among others, to the Indian market. Headquartered in Mumbai, the group has a vast retail network comprising over 2,025 stores for more than 80 brands. It also has a global workforce exceeding 20,000 individuals.

Renowned fashion and retail conglomerate Aditya Birla Fashion and Retail (ABFRL) has partnered with prominent fashion and lifestyle player, 6Degree to elevate its digital footprint and enrich its e-commerce endeavors across its array of brands.

The collaboration seeks to capitalise on 6Degree's adeptness in the digital fashion arena to revamp ABFRL's online presence and craft a more cohesive and tailored shopping journey for its clientele. This venture aligns with ABFRL's ongoing digital transformation endeavors, geared towards staying abreast of the swiftly evolving fashion landscape and catering to the dynamic preferences of consumers.

Expressing their excitement about the partnership, Nikhil Hegde, Amit Bhardway, Co-founders, 6Degree, underscored their commitment to revolutionise the e-commerce customer experience alongside ABFRL. They articulated 6Degree's mission to furnish fashion and lifestyle brands with robust digital solutions that fuel advancement and ingenuity.

Praveen Shrikhande, Chief Digital and Information Officer, ABFRL, echoed this sentiment, anticipating fruitful collaboration with 6Degree to enrich their e-commerce journey, enhance customer interaction, and foster digital expansion across brands.

This collaboration signifies a significant stride in ABFRL's endeavor to consolidate its position as a frontrunner in the digital fashion domain as it continues to broaden its brand spectrum and delve into novel market segments. It underscores ABFRL's commitment to pioneering the digital evolution within the industry, ensuring its sustained leadership in the realm of fashion and retail.

India’s retail market is set to grow to $2 trillion within the next decade from $820 million valuation observed in 2023. The market is projected to sustain a steady growth rate of 9-10 per cent over the period.

According to a report by the Boston Consulting Group (BCG) and the Retailers Association of India (RAI), this anticipated growth is attributed to a fundamental change in consumer behavior, with a notable shift towards experiential consumption such as travel and entertainment, overshadowing traditional product purchases. This shift has reshaped expenditure patterns over the past few years, prompting a reassessment of consumer spending habits.

Despite facing short-term hurdles such as a recent dip in year-on-year growth and subdued performance by certain large retailers, the organised retail market in India has demonstrated consistent growth amidst broader economic fluctuations. BCG highlights that profitability has generally remained steady and in line with global counterparts.

Since 2010, India's retail sector has soared over 200 per cent from a $250 billion valuation. This growth has been propelled by an expanding middle class and the entry of major international fashion and food chains.

Namit Puri, Managing Director and Senior Partner, BCG, says, the success in the retail sector hinges on retailers' capacity to refine their delivery models, harness artificial intelligence (AI) and analytics, and implement robust cost management strategies. Adapting to evolving consumer preferences and technological advancements is crucial for sustained growth, he adds.

The report by BCG tracks consumption trends across various categories, indicating a faster growth rate for services compared to goods. Additionally, there has been a noticeable increase in savings and investments among households, with a significant rise in demat accounts and health insurance penetration. Retailers are urged to align their strategies with these shifting patterns to capitalise on emerging opportunities.

Consumers are increasingly gravitating towards premium products, driving demand for luxury goods across diverse categories. Affluent households, with annual incomes exceeding Rs 20 lakh, are playing a pivotal role in this trend, particularly in segments such as cosmetics, electronics, and leisure travel. Furthermore, store expansion is anticipated to persist, fueled by urbanisation and rising consumption across cities of all tiers.

The value fashion brand of Shoppers Stop, Intune, has expanded its store network by opening two new outlets, in Thiruvananthapuram, Kerala, and Vadodara, Gujarat. These are the brand’s 17th and 18th stores respectively.

According to Devang Parikh, Business Head, Intune, both these stores target young families and offer a range of clothing and accessories at competitive prices, starting from Rs 199.

This store format was launched by Shoppers Stop initially in June with trial stores in Hyderabad and Mumbai. The company plans to set up approximately 24 Intune outlets by the end of the current fiscal year.

Founded in 1991 by property developer K Raheja Corp, Shoppers Stop launched its first store in Andheri, Mumbai. Since then, the retailer has expanded its footprint significantly, operating over 106 department stores across more than 56 cities.

The company also manages seven premium home concept stores, 88 specialty beauty outlets featuring brands like M.A.C, Estée Lauder, and Clinique, along with 23 airport locations and now 18 Intune stores.

British online fashion and cosmetic giant Asos is collaborating with Reliance Retail, to venture into the thriving Indian market. This strategic move aims to capitalise on Reliance Retail’s expansive domestic presence and e-commerce platform to introduce Asos’s diverse range of products to Indian consumers. This collaboration, amidst the evolving landscape of global retail, could establish a new paradigm for international retail partnerships in India.

As a part of the collaboration, Asos plans to sell its merchandise through Reliance Retail’s department store chain, Centro, as well as its online fashion and lifestyle platform, Ajio. This initial phase may potentially extend to the establishment of standalone Asos stores nationwide, signaling a substantial investment in India's retail sector and a commitment to long-term growth.

With India’s apparel market projected to have reached $59.3 billion by 2022, international fashion brands have shown significant interest. Zara and H&M have already made strong inroads, adapting to local preferences and capitalizing on India’s burgeoning middle class and increasing digital penetration. In partnership with the Tata Group, Zara operates 22 stores across major cities, catering to the growing demand for western wear. However, it faces stiff competition from H&M, which entered the market later but now boasts over 40 stores.

The success of Zara and H&M underscores the dynamic nature of India’s retail landscape, where factors like price sensitivity and brand perception are paramount. Local players like the Tata Group have also carved their niche, simultaneously managing Zara stores while building their apparel empire with brands like Westside, offering trend-focused clothing at competitive price points.

Despite the immense potential of India’s consumer base, foreign retailers encounter numerous challenges. India's diverse climate, varied tastes, and a significant unorganized sector necessitate localisation of offerings. Additionally, logistical complexities and competition from established local brands and unbranded sellers add layers of complexity to market entry.

Looking ahead, the future of fashion retail in India appears vibrant, with a blend of international and homegrown brands competing for the attention of a fashion-conscious and economically empowered population. Asos’s potential entry into this competitive yet lucrative market, in collaboration with Reliance Retail, reflects a continued interest from global brands in tapping into India’s retail growth story.

Renowned footwear and accessories brand, Fizzy Goblet recently debuted its Spring collection in Kolkata with a captivating pop-up event at the luxurious Oberoi Grand Hotel. Running from March 20 to 21, the exhibition aims to forge deeper connections with shoppers in East India, showcasing the brand's latest offerings in a vibrant display.

The showcase includes new arrivals, bestsellers, and celebrity favorites, all comprising handcrafted styles that epitomise the essence of fusion femininity inspired by ice creams and pastel hues.

Among the standout pieces from the Spring/Summer 2024 collection are pastel-hued juttis, sandals, and handbags, adorned with intricate designs and playful motifs reminiscent of ice lollies. Notable mentions include a chic lavender crossbody bag and slides featuring charming ice lolly-style appliqués.

The Fizzy Goblet pop-up is part of the esteemed 'Fuss Exhibition,' curated by entrepreneur Paridhi Sukhani, which serves as a platform for premium fashion and lifestyle brands to connect with discerning shoppers eager to explore new labels.

The event boasts an eclectic mix of ethnic and western wear alongside accessories and gift items, promising a diverse shopping experience.

Since its inception in Mumbai in 2014, Fizzy Goblet has evolved from offering traditional-style embellished juttis to an extensive range of footwear and accessories. With a dedicated e-commerce presence and ten flagship stores across Mumbai, Delhi, Noida, Pune, Bengaluru, and Hyderabad, the brand continues to captivate fashion enthusiasts with its signature blend of craftsmanship and style.

Renowned apparel and accessories brand from Aditya Birla Fashion & Retail (ABFRL), Van Heusen, has unveiled a new store exclusively dedicated to its women's collection in Kochi. Nestled on the first floor of the bustling Lulu Mall, this stylish enclave showcases a diverse array of both clothing and accessories.

Inside the store, patrons are greeted with a blend of casual and formal Western wear for women. The collection boasts an impressive range, from tailored slacks, chic blazers, and classic button-down shirts ideal for the office, to dazzling cocktail dresses perfect for evenings out. For those embracing laid-back vibes, there are also trendy T-shirts and denim jeans on offer.

Complementing the apparel are an array of accessories, including leather handbags, shoulder bags, and stylish footwear. The store's aesthetic is a vision of modern elegance, with an all-white interior accentuated by vibrant orange highlights. Its exterior showcases a striking copper geometric pattern, inviting passersby to explore its offerings.

In addition to the Kochi debut, ABFRL has expanded its presence internationally, recently opening a Van Heusen store in the prestigious Mall of Qatar. This move not only introduces the brand's esteemed menswear line to Qatari shoppers but also reinforces its commitment to connecting with fashion enthusiasts worldwide. Concurrently, the company has inaugurated a Louis Philippe apparel store within the same locale, further enriching the retail landscape with its sophisticated offerings.