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Myntra: StyleCast Sees Traction

18 June 2022, Mumbai:

*‘StyleCast’, Myntra's dedicated destination for the fashion-forward Gen-Z enthusiasts of the country, continues to witness steady growth, being a one-stop destination for all trendy drops that are in line with global fashion and their aesthetic palettes.

Despite consumer sentiment being relatively low, many categories in discretionary spending registered high sales during these events, says N Chandramouli, Founder, TRA Research.

As per a RBI report, consumer confidence index improved slightly to 75.9 in May compared to 71.7 in March. Shrenik Gandhi, Co-Founder and CEO, White Rivers Media says, consumer sentiment isn’t as negatively impacted as people are projecting it to be. Business need to introduce right products and services at the right time and right prices to attract customers, he adds.

An earlier report by ICICI Securities also notes,discretionary companies like retail, QSRs and jewelry will perform well. D2C brands selling beauty, home, kitchen, utilities and durable goods will perform well.

CREDITS: *Indian Retailer

Myntra: StyleCast Sees Traction

E-tailer Sales: Going Strong Despite Inflation & Low Consumer Sentiment

16 June 2022, Mumbai:

E-tail biggies — Amazon, Flipkart, and Myntras of the world — are all in the middle of hosting mid-year sales/promotional campaigns one or the other way at the moment.

Given the business environment currently, there are clearly headwinds as inflationary trends are biting the common man more than anybody else.

Startups layoffs, day in and day out & elevated interest rates, and more are not doing any good to consumer sentiments.

But same doesn't reflect in the e-tailers' sales session response been evinced by the e-shoppers buying enthusiasm.

The case in point is," The 16th edition of Myntra’s End of Reason Sale (EORS) witnessed 70 percent growth in traffic over business as usual (BAU) on Day One".

Flipkart’s ‘End Of Season Sale’ is likely to be a win-win for multi-stakeholders including fashion shoppers.

CREDITS: Business Insider

E-tailer Sales: Going Strong Despite Inflation & Low Consumer Sentiment

Shoppers Stop: Sandeep Jabbal joins as CCA, CDT & Information Officer

16 June 2022, Mumbai:

Sandeep Jabbal was appointed as Customer Care Associate and Chief Digital Transformation and Information Officer w.e.f. 23rd May 2022.

Sandeep comes with in excess of 18 years of relevant rich experience holding an MBA degree and in addition to being a mechanical engineer.

Shoppers Stop is an Indian department store chain, owned by the K Raheja Corp.

There are 86 stores across 40 cities in India, with clothing, accessories, handbags, shoes, jewellery, fragrances, cosmetics, health and beauty products, home furnishing, and decor products.

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Shoppers Stop: Sandeep Jabbal joins as CCA, CDT & Information Officer

H&M Group: Q2'22 Sales Development

15 June 2022, Mumbai:

Net sales in local currencies increased by 12 percent in the second quarter of 2022, i.e., in the period 1 March 2022 to 31 May 2022, compared with the corresponding period last year. Converted to SEK, net sales increased by 17 percent to SEK 54,504* m (46,509).

* The amount is provisional and may deviate slightly from the six-month report, covering the period 1 December 2021 – 31 May 2022, which will be published on 29 June 2022.

CREDITS: H&M (The news article has not been edited by DFU Publications).

H&M Group: Q2'22 Sales Development

NCLT: Adjournes Amazon’s plea

17 June 2022, Mumbai:

NCLT to hear Amazon’s plea against Future Retail’s insolvency on Monday.

The e-commerce giant’s counsel argued that FRL’s lenders had colluded with the company and hence bankruptcy court should not admit the case.

The National Company Law Tribunal (NCLT) has adjourned Amazon’s plea against a move by the Bank of India to put debt-laden Future Retail under the insolvency process.

The insolvency petition, filed in May, had come up for hearing before the Mumbai bench on Thursday.

The bench, led by Justice Pradeep Narhari Deshmukh, was hearing Amazon’s side on why its plea was maintainable and will take up the case again on Monday.

CREDITS: Business Line (The news article has not been edited by DFU Publications staff).

NCLT: Adjournes Amazon’s plea

Myntra EORS: Demand Surge To Create Job opportunities

14 June 2022, Mumbai:

The 16th edition of Myntra’s End of Reason Sale (EORS) witnessed 70 percent growth in traffic over business as usual (BAU) on Day One.

Nearly two-thirds of the demand in 'Beauty and Personal Care' was led by makeup, skincare, and fragrances, with over 100,000 lipsticks shopped by customers.

Customers shopped for a record-breaking 50 lakh products in the first 24 hours of Myntra's EORS sale that is being held from June 11-16. On the first day, 2.6 million items were shipped within the first 24 hours of the event.

*Myntra creates employment opportunities for 27.5k people to cater to the expected surge in demand during EORS-16.

CREDITS: *ANI NEWS

Myntra  EORS: Demand Surge To Create Job opportunities

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