01 June 2023, Mumbai 

Shoppers Stop Ltd., the popular department store chain, is set to open the first store of its affordable fashion brand Intune in Hyderabad.

Although the official launch of Intune is yet to take place, the brand's products are already available for purchase on the company's website.

What all you need to know

Intune is expected to employ a sharp pricing strategy to establish its presence in the industry, targeting young families with trendy fashion and good quality at an attractive price point. The brand will also offer pocket-friendly and trendy fashion for kids, starting as low as Rs 199.

The value format segment in the retail industry is witnessing increasing competition, with companies like Reliance Retail eyeing entry into this space. Leading players in this segment include Zudio, owned by the Tata Group, and Max, owned by Landmark.

Inspired by the success of Zudio, the Tata Group plans to expand its store count to nearly 500 by adding around 130 stores this year.

Shoppers Stop Ltd. is a renowned retailer of fashion and beauty brands, operating across 98 department stores in 52 cities.

Additionally, the company runs premium home concept stores, specialty beauty stores, and airport doors, covering a significant retail space of 3.9 million square feet.

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18 May 2023, Mumbai

18 May 2023, Mumbai

V-Mart Retail Ltd, a leading value fashion retailer, has reported a loss of Rs 8 crore for the full fiscal year 2022-23, a significant decline from the profit of Rs 12 crore in the previous fiscal year (FY22).

This downturn in profitability reflects the challenges faced by the company in the current market conditions.

What all you need to know

In addition, for the fourth quarter that ended March 31, V-Mart Retail recorded a net loss of Rs 37 crore, compared to a loss of Rs 3 crore in the same quarter of the previous fiscal year. The widening loss can be attributed to various factors that have impacted the company's financial performance.

Despite the loss, V-Mart Retail witnessed a noteworthy growth in sales for the quarter, with a 29 percent increase.

The company's sales reached Rs 594 crore, compared to Rs 459 crore in the corresponding period of the previous fiscal year. This growth in sales can be attributed to the strategic efforts and expansion initiatives undertaken by the company.

Maintaining a positive outlook, V-Mart Retail anticipates a turnaround in the coming quarters, banking on the contributions from its recently acquired Unlimited stores and online platform, Limeroad.

The integration of Unlimited stores in south India has proven successful, leading to profitable growth. The Unlimited unit contributed Rs 438 crore in revenue for the full year.

Furthermore, the acquisition of Limeroad, an online fashion marketplace, has yielded promising results, with net sales increasing by an impressive 88 percent post-acquisition.

During the fourth quarter, V-Mart Retail expanded its presence by opening 17 new outlets. However, the company also had to close eight existing stores, bringing the total store count to 423.

Overall, V-Mart Retail remains positive about its prospects, driven by the successful integration of Unlimited stores and the acquisition of Limeroad.

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29 May 2023, Mumbai

V2 Retail Limited has released its consolidated financial results for the period ending March 31, 2023. The company recorded a total income of Rs. 195.5594 crores during this period, showing a decrease from Rs. 242.0465 crores in the previous quarter. The net profit for Q4 FY2023 was reported as Rs. -7.7060 crores, down from Rs. 9.3168 crores in the previous quarter.

In terms of year-on-year (YoY) comparison, the company's total income increased to Rs. 195.5594 crores in Q4 FY2023 from Rs. 161.9099 crores in Q4 FY2022. However, the net profit declined to Rs. -7.7060 crores from Rs. -9.5113 crores in the same period last year.

For the full financial year ending March 31, 2023, V2 Retail Limited reported a total income of Rs. 845.5520 crores, representing a significant increase from Rs. 645.1139 crores in the previous year. The net profit for the year was reported as Rs. -12.8167 crores, compared to Rs. -11.6772 crores in the previous year.

The company's shares on the BSE were trading at Rs. 78.76, slightly lower than the previous close. The stock witnessed a trading volume of 1232 shares throughout the day, with a high of Rs. 80.48 and a low of Rs. 77.85.

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26 May 2023, Mumbai  

British casual wear brand Superdry has inaugurated its exclusive brand outlet in Model Town, Jalandhar. The store offers a wide range of men's and women's western wear, accessories, and footwear.

Stylish Store Interior

The store's interior is designed with natural wood elements and adorned with greenery. It features dedicated sections for sandals, innerwear, logo t-shirts, bags, denim, and hero pieces from Superdry's summer 2023 collection.

Focus on Indian Market

Superdry has been actively engaging with the Indian market. They recently launched a denim campaign featuring Bollywood actor and brand ambassador Kartik Aaryan. This campaign aligns with the brand's efforts to connect with Gen Z shoppers in India.

Additionally, the brand expanded its presence by opening a store in New Delhi's Jasola district.

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 17 May 2023, Mumbai

Trent’s annual report reveals that the venture's revenue soared to ₹2,562.5 crores during the last fiscal year, showcasing a substantial expansion.

What all you need to know

This substantial increase demonstrates the effectiveness of Inditex Trent's business model in satisfying the Indian market's appetite for trendy apparel.

Moreover, the net profit experienced an impressive surge of 77% to ₹264 crore, indicating the venture's strong financial performance in FY23.

Trent, the parent company of Inditex Trent, also highlights the impressive financial performance of the joint venture in India.

Zara, the renowned global fashion brand, has witnessed a remarkable surge of 40% in sales within the country, fueled by the growing popularity of western-style clothing among the younger generation. Despite facing fierce competition in the highly saturated apparel market, Inditex Trent has managed to achieve significant revenue growth.

In addition to the joint venture with Zara, Trent operates Trent Hypermarket, a successful collaboration with British retail giant Tesco.

The subsidiary of Trent Hypermarket, Star stores, reported a notable increase in total sales, amounting to ₹1,798 crore, reflecting a significant growth of 34%. Furthermore, the losses incurred by Star stores narrowed down to ₹96 crore, suggesting positive developments for Trent in the fiercely competitive Indian retail landscape.

Trent's diverse portfolio of brands, combined with its well-executed operational model, positions the company favorably to capitalize on the thriving Indian retail sector.

By strategically opening selective Zara stores in high-quality retail spaces, Trent aims to expand its presence and strengthen its market share further.

The financial success of Inditex Trent, coupled with the positive growth of Trent Hypermarket's subsidiary, underscores the company's ability to navigate challenging market conditions and deliver impressive results.

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 27 May 2023, Mumbai

CBRE's survey indicates that 42% of Asia Pacific retailers expect footfall in physical stores to rebound to pre-pandemic levels, while almost half foresee a portion of online spending transitioning back to brick-and-mortar retail. Meeting the diverse needs of hybrid shoppers who switch between online and offline channels is a significant challenge for retailers.

Rising Costs of Online Operations

Retailers face mounting expenses in operating online platforms due to factors like increased transportation costs, supply chain disruptions, labor shortages, and higher cost-per-click fees imposed by platforms such as Google. Consequently, 66% of retailers anticipate higher online operation costs in 2023.

Expansion of Physical Stores and Enhanced Shopping Experiences

Despite the challenges, 71% of retailers plan to expand or introduce new physical stores, underscoring the enduring importance of in-person retail. Preference for In-Store Product Viewing and Sales Network Optimization

The survey reveals that 61% of shoppers in the region prefer to see products in-store before making online purchases, influenced by the more compact living environment in the Asia Pacific.

Retail Investment Outlook and Challenges

Investment sentiment in the retail sector lags behind other sectors like offices and industrial markets. CBRE projects a mostly stagnant investment volume, citing uncertainties in financial markets and concerns about the banking sector. Hope for Improved Investment Sentiment

CBRE suggests that if interest rates peak as anticipated in the middle of the year, investment sentiment in the retail sector may improve.

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24 May 2023, Mumbai  

Reliance Retail, led by Isha Ambani, has laid off over 700 employees from its B2B vertical, Jio Mart, following the integration of German retailer Metro AG's Indian cash & carry business.

What all you need to know

The acquisition led to overlapping roles and functions, resulting in the retrenchment of Metro employees. Reliance Retail is also reviewing the roles of employees in other verticals and placing hundreds of employees on performance improvement plans.

Additionally, the company has asked members of the sales team to transition from a regular monthly salary to a commission-based model, where their earnings are based on sales performance.

These changes are part of the annual appraisal process. Reliance Retail, with approximately 400,000 employees, including those from Metro Cash & Carry India, did not respond to requests for comment.

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13 May 2023, Mumbai 

Zara unveiled its newly refurbished store at Phoenix Palladium today, marking a significant milestone in the company's journey in India.

Spanning three floors and covering over 26,000 sq ft, the store showcases Zara's latest strategy of larger format stores equipped with cutting-edge technology to enhance the fashion experience for customers. The exterior of the store features an impressive stone facade that blends seamlessly with the mall's urban plan, while the interior exudes a clean and neutral aesthetic with hints of warmth from wooden furniture and natural textiles.

The store's layout integrates the Women's, Men's, and Kids' collections across different floors, with dedicated sections for Beauty and Zara Origins in the men's section, a unique feature exclusive to the western region of India.

The introduction of Zara Beauty marks the brand's foray into the beauty market, offering a comprehensive range of inclusive products made with high-performance ingredients and clean formulas. Furthermore, Zara Origins presents a contemporary wardrobe collection that combines modern concepts with exceptional craftsmanship and value.

In line with Zara's commitment to sustainability, the store incorporates advanced eco-efficiency systems, including energy-saving LED lighting and environmentally friendly materials. It is connected to Inditex's Inergy platform, which monitors energy consumption and helps optimize management and maintenance strategies to reduce environmental impact.

To enhance the customer experience, Zara has integrated several services into its app, such as fitting room reservations, online item search and ordering, and a self-checkout area. These features, coupled with the store's emphasis on innovation and sustainability, exemplify Zara's dedication to providing a unique and eco-conscious shopping experience.

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 27 May 2023, Mumbai

Formation of Trent MAS Fashion Private Ltd; Tata Group's Trent Ltd. has established Trent MAS Fashion Private Ltd., a new company in a 50:50 joint venture with MAS Amity Pte Ltd., based in Singapore. The primary focus of this new entity is to design, develop, and manufacture intimate apparel and related products in India.

Equity Shares and Capital

Both Trent and MAS Amity have subscribed equally to 5 lakh equity shares of the joint venture company, with a face value of Rs 10 each, totaling Rs 50 lakh. Trent MAS Fashion has an authorized share capital of Rs 1 crore, divided into 10 lakh equity shares with a value of Re 1 per share.

Objectives of the Collaboration

The collaboration between Trent and MAS aims to enhance Trent's ability to offer fully owned brands in its retail stores while supporting MAS in expanding its international presence.

Financial Performance

For the quarter ending on March 31, 2023, Trent reported an increase in net profit and revenue from operations compared to the previous year. This growth can be attributed to a low base in the previous year and ongoing network expansion efforts.

Net Profit for the March Quarter

Trent, the flagship retail arm of Tata Group, achieved a net profit of Rs 45.01 crore in the March quarter, marking a significant increase from Rs 20.87 crore in the same period the previous year.

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20 May 2023, Mumbai  

Karan Mehta to drive Landmark Group's expansion in the mass-market fashion segment. With 130+ stores and a turnover exceeding Rs 500 crore, Easybuy has established itself as a formidable player.

Mehta's extensive retail experience, including his previous roles at Pantaloons and Aditya Birla, aligns with Landmark Group's vision to elevate Easybuy's position.

Mehta Drives Easybuy's Expansion

Mehta's leadership will fuel Easybuy's goal of becoming a leading brand across all district headquarters in India. By offering affordable and trendy clothing, Easybuy aims to meet the fashion needs of young Indians. The strategic appointment positions Easybuy for further growth, particularly in Tier II and Tier III cities, solidifying Landmark Group's confidence in the brand's potential. With Mehta at the helm, Easybuy is well-equipped to amplify its brick-and-mortar presence, while Landmark Group strengthens its position as a prominent player in the super-value fashion market.

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12 May 2023, Mumbai 

Lifestyle, a subsidiary of the Landmark Group, is poised to make a substantial expansion in India with the launch of 50 new stores over the next three to four years. To tap into the burgeoning trend of consumers in tier-2 and tier-3 cities gravitating towards organized retail, driven by growing aspirations and a preference for branded clothing, Lifestyle plans to introduce smaller format stores, which have proven successful in these areas.

This expansion strategy primarily targets smaller towns and cities that are currently underserved by organized retail chains, capitalizing on the shift in consumer behavior. By doing so, Lifestyle aims to seize the opportunity presented by the increasing demand for organized retail in these regions. The company recognizes the importance of its private labels, particularly in women's and ethnic wear categories, and has been emphasizing them in recent quarters. This approach grants the company greater control over pricing, promotions, and product offerings, enabling them to identify market gaps and introduce products that can attract customers.

The retailer's ambitious expansion plans mark a significant acceleration compared to its historical growth rate. Recently, Lifestyle achieved a milestone by opening its 100th store in India after over two decades of operations in the country. Situated in Raipur's Magneto Mall, the store showcases a wide range of clothing, footwear, handbags, beauty products, and accessories.

In the current fiscal year alone, Lifestyle aims to add approximately 18 to 20 new stores. The implementation of a small-store format has unlocked substantial geographical expansion opportunities for the company. While these smaller cities are still underserved by organized retailers, consumers in these regions are displaying a willingness to invest in branded apparel and elevate their wardrobes. Lifestyle's presence in these markets has not only relied on lower price points but has also witnessed robust growth and demand for its offerings.

Moreover, Lifestyle is considering replicating the successful small-store format in micro-catchments within larger metro areas. This strategic move would enable Lifestyle to cater to diverse consumer segments and further enhance its market presence throughout India.

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