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Tag: india

  • Marks & Spencer India to open six more stores in next 60 days

    Marks & Spencer India to open six more stores in next 60 days

    British multinational retailer Marks & Spencer (M&S) is on an aggressive pace here and is opening six more stores in the next two months alone, a top company official has said.

    According to a report, Marks & Spencer has opened its first store here way back in 2001 and in April 2008 signed a joint venture agreement with Reliance Retail to form Marks & Spencer Reliance India.

    It now has 71 stores across 30 cities like New Delhi, Amritsar, Mumbai, Pune, Kolkata, Bangalore, Chennai, Kochi, Bhopal, Kanpur, Hyderabad and Chandigarh among others.

    “India has become increasingly an important market for us. We are now the largest market for M&S outside of our home market. We are 71 stores today and we continue to invest in this market. We opened nine stores in the last six months and it is our intention to open six more in the next 60 days,” James Munson, managing Director, Marks & Spencer Reliance India said in an interview.

    Internationally, Marks & Spencer hawks its products in 57 markets across 400 stores and an online presence in 33 markets.

    Munson further said they would look to maintain that expansion pace in the next year as well and said, “there are no other markets which are expanding the way we are expanding here”.

    Of the 71 stores here, 10 are standalone beauty and lingerie stores , including two it opened in the last nine months and said half of the stores it plans to open in the next 60 days would also be for the same.

    The company clocked a revenue of Rs 908 crore last year and has been growing at a CAGR of 24 percent over the last five years, Munson said.

    It had clocked a 9 percent growth in the same store sales last year.

    A fifth of the turnover comes from outside the major metros, he said.

    It sources 30 percent of its products from locally and India is a sourcing base for the wider British market as well.

    M&S has partnered with other e-commerce players like Amazon and Flipkart over the last few years and he said its a strong area of growth and this year they are expecting 75 percent growth in online sales.

    However, the contribution from online to its revenues is still quite small here, unlike in Britain where it’s targeting 30 percent online sales.

    M&S has developed a rethink campaign specifically for this market, a first globally where a campaign has been designed for the local market.

    In Britain, food is a popular segment for the company but Munson said there are no plans at present to introduce food here.

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  • Walmart bets on India despite change in FDI norms

    Walmart bets on India despite change in FDI norms

    American retail giant Walmart and its Indian e-tail major Flipkart are betting big on India despite the revised norms for Foreign Direct Investment (FDI) in e-commerce, the companies said. “Walmart’s and Flipkart’s commitment to India is deep and long term. Despite the recent changes in regulations, we remain optimistic about the country,” the regional Chief Executive Officer of Walmart Asia and Canada Dirk Van den Berghe told IANS in a statement in New Delhi.

    The companies will continue to focus on creating “sustained economic growth and bringing sustainable benefits to India, including employment generation, supporting small businesses and farmers, and growing Indian exports to Walmart’s global markets”, added Berghe, who is also the retail giant’s Executive Vice President.

    Walmart’s assertion on the company’s commitment to India came after American investment bank Morgan Stanley in a report on Monday said the former might exit the country after the new FDI norms in e-commerce came into force on February 1.

    “An exit is likely, not completely out of the question, with the Indian e-commerce market becoming more complicated,” the New York-based financial services firm said in its report titled “Assessing Flipkart Risk to Walmart EPS (earnings per share)”.

    In May last year, Walmart bought 77 percent equity stake in Flipkart for a whopping US$ 16 billion (Rs 1,16,256 crore).

    The revised FDI norms in e-commerce, however, have tightened the noose around the businesses of the country’s leading e-tailers – Walmart-owned Flipkart and Indian arm of American e-commerce giant Amazon.

    The policy revisions, issued by the Ministry of Commerce and Industry on December 26, 2018, barred e-commerce platforms providing a marketplace from exercising control or ownership over the inventory and forbids any company to sell its products exclusively on an e-commerce platforms alone.

    The e-tail companies are now working towards changing the ownership of their inventory, so as to comply with the norms.

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  • Reliance India buys additional stake in Future101, Genesis Colors

    Reliance India buys additional stake in Future101, Genesis Colors

    Billionaire Mukesh Ambani-led Reliance Industries has raised its stake in luxury apparel firms Future101 Design and Genesis Colors to strengthen its foothold in retail industry. Reliance Brands Ltd (RBL), a unit of RIL, “has acquired a further stake of 2.5 percent in Future101 Design Pvt Ltd on February 7, 2019, for a consideration of Rs 1.99 crore, taking its total stake in Future101 to 15 percent,” the company said in a regulatory filing.

    According to a report, also, Reliance Retail Ventures Ltd (RRVL), a separate subsidiary of the company, acquired a further stake of 9.44 percent in Genesis Colors Ltd (GCL), for Rs 45 crore taking its total stake in GCL to 29.07 percent on the enhanced capital.

    “Consequently, the stake of RBL in GCL shall be 43.66 percent and the aggregate equity shareholding of RRVL and RBL in GCL stands at 72.73 percent,” it said.

    Reliance said the acquisitions will help it to strengthen its foothold in the retail industry and support its long-term strategy to enhance its value in the industry.

    No regulatory approvals were required for the acquisition of shares and the investment does not fall within related party transaction, it added.

    The company had in July last year bought 12.5 percent stake in Future101, which is engaged in manufacturing, distribution, and sale of luxury apparels in India, for Rs 9.50 crore.

    Future101 reported an annual turnover of Rs 22.18 crore in 2017-18.

    In September 2018, RRVL had acquired a 16.31 percent stake in GCL, which owns fashion label Satya Paul, for Rs 34.80 crore. RRVL, through unit RBL, already held a 49.46 percent stake in GCL.

    That month, RRVL invested a total of Rs 57.03 crore in five other companies that sell branded readymade garments, bags, footwear, cosmetics and accessories.

    It bought a 2.07 percent stake in Genesis Luxury Fashion Pvt Ltd for Rs 3.37 crore, taking its holding in the company to 49.37 percent. Genesis Luxury Fashion distributes premium brands such as Jimmy Choo, Armani, Paul Smith and Bottega Veneta.

    It also bought 50 percent stake each in GLF Lifestyle Brands Pvt Ltd and Genesis La Mode Pvt Ltd for Rs 38.45 crore and Rs 10.57 crore, respectively.

    Besides, it acquired 50 percent each of GML India Fashion Pvt Ltd and GLB Body Care Pvt Ltd for Rs 4.48 crore and Rs 16 lakh, respectively.

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  • How technology shape the future of retail in India

    How technology shape the future of retail in India

    The Indian Retail Industry is considered one of the fastest growing industries in the world and technology has emerged as a helping hand to the industry. The world has seen a transition in retail planning –with the industry going from being product-centric to being customer-centric – and retailers are leveraging technologies to reach the modern shoppers.

    Over time, retail technology has transcended from an aspiration to an expectation and has wedged itself securely between consumer and experience to create an everyday interface. While it has definitely made life easier for consumers, retailers in India have spent a better part of the last decade on their heels, reacting to profound changes throughout the sectors of the industry.

    Retailers today are not fighting with retailers anymore; instead they’re fighting with different technological interventions in order to be the most competitive in the world. With growing competition, it has become extremely vital for retailers to innovate continuously and implement cutting-edge technologies to fulfil today’s demanding customers’ need.

    In order to stay relevant in a highly competitive market, every retailer needs to stay on top of technological advances and also learn how to exploit these technical innovations to forward their business goals.

    Over the past few years, a number of technology trends have evolved and dramatically altered the retail industry. The emergence and the transformational growth of the new economy has unleashed powerful forces which are eventually and successfully reshaping the retail industry at a transformational speed. In order to succeed, today’s retailers have to offer a seamless shopping experience across all channels – and should not lose track of their customers.

    Today, the entire retail ecosystem has smartened with technology. There are so many things one can experiment with if a retailer uses technology, for example: smart displays, in-store services, smart shelves, home delivery, brand optimization options, supply chain optimization, logistics automation to name just a few.

    Then there are wallets, point of sale data, social networking – where you can home in on complaints as well as get appreciated. All this is driven by the retailer into applications where the consumer sees, feels, asks the retailer questions and eventually buys the product.

    Giant players of the retail industry have accepted technology with arms wide open to captivate and secure customers and have made optimum use of technology to optimize their business. Whereas small retailers, most of them belonging to the unorganized sector, are yet to adopt technology to be adept with the changes and technological innovations taking place in the retail market. If the entire unorganized retail trade, which is 80 percent of the entire retail trade, adopts technology, the retail industry will usher in a new era providing a much-needed thrust to the Indian economy. Technology is the knight on the white horse that will ride the retail market towards prosperity and triumph.

    What took the year 2018 by storm is phrase ‘Experiential Retail’. It became the code of the moment; delivered through convenient accessibility, in-store features, customer engagement through ATL and BTL animation or out-of-the-box blends of the physical and digital shopping universe.

    Some other trends that impacted the retail industry in a big way in 2018 are:

    IoT (Internet of Things)

    IoT has big implications for in-store marketing efforts of retailers and brands. Connected devices aren’t just changing the way consumers live, work and play – they’re dramatically reshaping the entire industry. The IoT movement offers retailers opportunities in three critical areas: customer experience, supply chain and new channels-revenue streams.

    Leading retailers across the globe are already investing heavily in IoT. They are beginning to transform their business practices and recognize that, in time, IoT will touch nearly every area of retail operations and customer engagement. In the IoT of today, everything has the potential of coming under the IOT umbrella. From the lighting system in the store, the PoS (Point of Sales) system, to the electric switches and even garbage disposal units…IOT is at the heart of retail transformation. It connects people, machines, items, and services to streamline the flow of information, enable real-time decisions, and heighten consumer experiences.

    While the IoT may still seem like science fiction, it is becoming reality faster than most of us can comprehend. Retailers that hesitate to develop and execute an IoT strategy will open the door for competitors – old and new alike – to swoop in and capture early IOT mind and market share.

    SMAC (Social, Mobile, Analytics & Cloud)

    The relationship between consumers and enterprises has never been as intrigued as in the 21st century. As digital technologies augmented by SMAC are creating new touch points for enterprises to awe their consumers, there has been an evolution in consumer experiences. Social, mobile, analytics and cloud or SMAC are the nexus of forces, which are reshaping how consumers experience a brand.

    SMAC are currently driving business innovation. It creates an ecosystem that allows a business to improve its operations and get closer to the customer with minimal overhead and maximum reach. Digital is now an essential part of the whole shopping experience and the entire business of retail, inside as well as outside the store. You don’t need to leave a physical store to get your digital fix. Instead, retailers are leveraging a wide array of in-store technologies meant to draw consumers in the door. As the impact continues to increase, the way retailers think of digital and invest in it, besides addressing the digital wants and needs of their customers is changing dramatically.

    Big Data

    Today, retailers are constantly finding innovative ways to draw insights from the ever-increasing amount of structured and unstructured information available about their customers’ behaviour.

    Data gathering, and analytics are playing a key role in evolving business models in retail. Usage of data and analytics to better understand consumers in the form of branding, product management, leveraging loyalty card information to tracking customer buying behaviour and making better pricing decisions are the key factors. Collecting and leveraging customer information to provide personalized recommendations is the norm going forward.

    Retailers – large and small – have been reaping the benefits of analysing structured data for years but are only just starting to get to grips with unstructured data. There is undoubtedly still a great deal of untapped potential in social media, customer feedback comments, video footage, recorded telephone conversations and locational GPS data. Great benefits have come to those who put it to best work, and the best solutions have more likely come from innovative thinking and approaches to analytics, rather than those who simply try to collect as much data as possible and then see what it does.

    Omnichannel Retail Adaptation

    Omnichannel is a term that extends and supersedes multi-channel. Multi-channel (or cross-channel) refers to delivering content and considering consumer experience on more than one channel. Omnichannel is about understanding and optimizing for the entire journey across all channels.

    Omnichannel today is a necessity. Brick-and-mortar retailers have been left with no option but to add online channel to their offline operations in a bid to reach as many customers as possible, and quickly. Omnichannel retailing creates benefits for consumers and opportunities for retailers. For consumers, it empowers connected consumers by making it easier for them to access information and compare product details; by increasing choice; and by increasing convenience and the range of options for shopping. For retailers Omnichannel creates opportunities, ranging from potential extension of sales and increasing brand awareness and loyalty.

    A poorly executed Omnichannel or personalization strategy, however, can do more harm than good. Handling one or two channels discretely but satisfying expectations is better than disappointing your consumers when you fail to deliver added value — or worse still, confuse or frustrate — while tackling all channels. Personalization can be even more dangerous because of very real risks that your brand can be given the dreaded creepy label.

    To be successful at delivering a personalized experience in Omnichannel marketplace, adaptive content is a requirement. It is content that is designed for both personalization and delivery across many channels.

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  • Starbucks India to add around 10 stores this fiscal

    Starbucks India to add around 10 stores this fiscal

    Starbucks, a 50:50 joint venture between Tata Global Beverages and Starbucks Coffee of the US, is planning to add up to 10 new stores in the next two months, taking the total count to around 145 outlets, said a top company official. According to a report, the premium coffee chain is increasing the number of roll outs as it is getting overall good consumer response, said Tata Global Beverages (TGBL).

    “We currently have around 136 stores and we would open another between 5 to 10 stores by the end of the year (fiscal). We have seen an increase in the store roll out. We look at activating more stores roll out in the next few years, what we have seen in the past,” L Krishnakumar, CFO, TGBL Group said.

    Tata-Starbucks has recently started food delivery through online food aggregator apps like Swiggy.

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  • India central bank makes surprise interest rate cut

    India central bank makes surprise interest rate cut

    India’s central bank unexpectedly lowered interest rates and, as anticipated, shifted its stance to “neutral” from “calibrated tightening” to boost a slowing economy after a sharp fall in the inflation rate. The monetary policy committee (MPC) of the Reserve Bank of India cut the repo rate by 25 basis points to 6.25%, as predicted by only 21 of 65 analysts polled by Reuters. Most polled respondents expected the central bank to only change the stance, to neutral.

    Four of six members of the MPC voted to cut the rates, while all six voted for a change in the stance.

    “Investment activity is recovering but supported mainly by public spending on infrastructure,” the MPC said in a statement. “The need is to strengthen private investment activity and buttress private consumption.”

    Rupa Rege Nitsure, chief economist at L&T Financial Services, called the central bank moves “the perfect policy response in the current circumstances.”

    Indian shares pared gains while 10-year bond yields slid 5 basis points after the surprise rate cut.

    The Indian rupee weakened to 71.69 to the dollar immediately after the announced but strengthened soon after to 71.42.

    The NSE index was up 0.04% at 11068.05 while the 10-year benchmark government bond yield fell to 7.51% from Wednesday’s close of 7.56%.

    India’s last rate cut, to 6.00%, was in August 2017.

    Also, in Manila, the Philippine central bank kept its benchmark interest rate steady for a second straight meeting , saying inflation risk had fallen on lower crude oil and food prices.

    The Bangko Sentral ng Pilipinas kept the rate on its overnight reverse repurchase facility The central bank paused its tightening cycle in December to allow its five straight previous rate increases, totalling 175 basis points, to work their way into the economy.

    The rate increases appear to be having their desired effect as inflation has started to cool since it hit a near-decade peak of 6.7% in September and October last year.

    The decision to stay on hold was based on the central bank’s view that lower oil costs and stabilisation in food prices would bring inflation under control and could see it back on target as early as March, when it could fall to below 4%.

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  • V-Mart reports 27 percent growth in topline, reaches 200-store milestone

    V-Mart reports 27 percent growth in topline, reaches 200-store milestone

    V-Mart Retail, India’s leading value fashion retailer,  announced its unaudited financial results for the quarter and nine months ended 31st Dec,2018 whichwere approved by the Company and Board of Directors at its meeting held on 5th Feb, 2019. The company posted robust numbers for the third quarter, recording 27 percent YoY growth in revenue from operations, 15 percent increase in EBITDA and same store sales growth (SSSG) of 11 percent. The quarterly revenue and EBITDA stood at Rs 4658 million and 733 million, respectively, up from Rs 3680 million and 640 million in the previous year. The strong topline growth was also mirrored in PAT, which at Rs 417 million, delivered 14 percent YoY growth.Festive season shopping – comprising Durga Puja, Diwali and Chhath – in the company’s main geographic markets was the primary growth driver for the quarter. In the 69-day duration from 6th Sep – 13th Nov spanning the three festivals, the company registered overall and like-to-like growth of 49 percent and 27 percent, respectively. This was achieved through revamped product assortment, supply chain, and marketing and sales strategies that the company executed effectively. The company has invested in ramping up its warehousing capacity and strengthening the talent pool at all levels.

    Riding on the back of healthy numbers in Q3, V-Mart continued to strengthen its performance for the fiscal year. On a YTD basis, revenue stood at Rs 10,892 million for the nine months ended 31st Dec, growing at 18 percent YoY, while EBITDA and PAT, at Rs 1127 and Rs 625 million, grew at 3 percent and 1 percent, respectively.

    Commenting on the company’s performance in Q3, Lalit Agarwal, CMD, said “There has been a great execution of fresh product ideas and customer connect which was amplified by strong festive demand in all our markets. V-Mart was well prepared and well-positioned to tap into this opportunity in all its key markets, delivering its value fashion promise with a wider and deeper assortment that resonated with the fashion aspirations of our customers. Launch of stores in Assam and Meghalaya further added the growth momentum for the company and the company witnessed its best ever Durga Puja sales during the quarter especially from the Bengal region. We thank all our valued customers for their trust and belief in V-Mart and look forward to their continued support.”

    While driving a strong execution focus during the festive season, the company maintained its consistent pace of retail network expansion, reaching the 200-store milestone in December. V-Mart opened 10 new stores during thequarter, andon a YTD basis, has added 29 stores with more launches planned in the last quarter. While the company took 12 years to open its first 100 stores, the journey to the next 100 has taken less than 3 years. Looking ahead, the company is building a strong pipeline of locations for targeted store expansion in the next fiscal year.

    For the upcoming Spring-Summer 2019 collection, the company shall be launching a new range of Indigo collection denims, camouflage, high fashion t-shirts, joggers, ladies tops, salwar suits, gowns, solid woven skirts for girls and kurti’s along with a new kids summer collection. The launch of summer collection and the special marriage range, with an emphasis on vibrant colors and silhouettes willgive shoppers a wide choice of fabricsand form key customer-centric highlights of the next quarter.

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  • Optimistic about Indian market despite changes in new FDI policy: Walmart

    Optimistic about Indian market despite changes in new FDI policy: Walmart

    US retail major Walmart, which invested $16 billion in Flipkart, Wednesday said it is committed to the Indian market and is optimistic despite recent changes in the FDI policy for e-commerce firms in the country, according to a PTI report. The Bentonville-based retailing major’s statement came after a recent report by global consultancy firm Morgan Stanley, which had hinted that Walmart may quit Flipkart as the new foreign direct investment (FDI) policy came into effect, which would lower its profitability in the long run.

    Morgan Stanley, in a report titled ‘Assessing Flipkart Risk to Walmart EPS’ dated February 4, claimed that “an exit is likely, not completely out of the question, with the Indian e-commerce market becoming more complicated.”

    “Walmart’s and Flipkart’s commitment to India is deep and long term. Despite the recent changes in regulations, we remain optimistic about the country,” said Dirk Van den Berghe, Executive Vice President and Regional CEO Walmart Asia and Canada.

    He further added, “We will continue to focus on serving customers, creating sustained economic growth and bringing sustainable benefits to the country, including employment generation, supporting small businesses and farmers, and growing Indian exports to Walmart’s global markets.”

    Tightening norms for e-commerce firms having foreign investment, the government, from February 1, barred online marketplaces like Flipkart and Amazon from selling products of companies where they hold stakes and banned exclusive marketing arrangements that could influence product price.

    The revised policy on FDI in online retail, issued by the commerce and industry ministry, also said that these firms have to offer equal services or facilities to all its vendors without discrimination.

    Last year on August 18, Walmart had completed acquisition of 77 per cent stake in Flipkart for about $16 billion (Rs 1.05 lakh crore), a deal which gave the US retailer access to the Indian e-commerce market.

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  • Fashion to contribute Rs 70,000 crore to revenue in 7 years: Future Group India

    Fashion to contribute Rs 70,000 crore to revenue in 7 years: Future Group India

    Kishore Biyani, Chairman, Future Group says his company is planning to step up its focus on men’s footwear retail since the category is becoming an important accessory for the Indian consumer. According to Biyani, footwear today is no longer category defined for just women. It’s equally important for men – almost as important as buying trousers. With brands like Koovs, Lee Cooper, Clarks, Converse under one roof, Future Group claims to be the number two footwear retailer in India.

    “We aim to be number one footwear retailer in India,” he says, adding, “Men are equally inclined towards buying footwear and on an average have at least 20 pairs to go with different trousers. This is the reason why we are expecting footwear to contribute approximately 18 percent to the overall revenue, an increase from the current 11 percent,” he says.

    “We are expecting the share of footwear to increase from Rs 1,600 crore to Rs 2,500 crore by next year and we aim to be the number one footwear retailer in the country very soon,” he adds at the re-launch of Central at Ambience Mall, Vasant Kunj. The contribution of private labels to the group’s revenue is around 40 percent presently.

    At Central, Hyderabad, the footwear section spans across 30,000 sq. ft. and even in Central, Vasant Kunj, footwear occupies a major space covering 15,000 sq. ft. Area.

    Exploring Central Vasant Kunj

    The re-launched Central Vasant Kunj, spanning across 44,000 sq.ft area, is a high-definition store offering luxury experiences while keeping the price of the products at masstige level.

    “Many online brands like Koovs, Craftsvilla have come offline with us. We are expecting an average ticket size of Rs 4,000 here and plan to take this up to Rs 8,000,” Biyani states.

    With state-of-the-art décor, minimalistic fixtures and an aspirational fashion boutique feel, Central aims to provide a delightful shopping experience to its customers right from the time they enter the store to the time they reach the billing section. The space has subtle displays that compliments the store design and aesthetics. The store is designed and specialized to offer an enhanced and a more customized service to shoppers as per international standards.

    The outlet showcases a premium mix of national and international brands in various categories like Men’s and Ladies Formal Wear, Casual Wear, Ethnic Wear, Cosmetics, Fragrances, Handbags, Watches, Men’s and Ladies Footwear, Toys, Kids Apparel, Lingerie and more. From brands like Tommy Hilfiger, Guess, Gucci, FCUK to acclaimed designer like Micheal Kors, Giorgio Armani, Ferragamo, Calvin Klein, Diesel, Roberto Cavalli, Versace, Dolce & Gabbana, Central serves as the one stop shop for fashion-conscious customers of the capital.

    Central, which has at present no plans to go Omnichannel, has always believed in redefining the fashion and lifestyle retailing concept in India. Offering world class designs, with over 500 brands displayed in high definition and latest trends, the stores offer an enhanced and a more customized service to customers as per international standards.

    According to Vishnu Prasad, CEO, Central, “Every brand and its products have their own story to connect with customers and indulge in the latest in fashion. We also have exclusive brands in store resulting in a new and improved shopping experience.”

    “We intend to make next-gen Centrals ‘experience-savvy’ stores rather than ‘tech-savvy’ stores, s all services and features that we are offering will be in that direction,” he adds.

    Highlighting the services that set Central apart from others, Prasad says, “We have features like WhatsApp shopping – i.e. if a shopper likes something in our store but is not sure about the purchase, we can reserve the product for them and they can Whatsapp us once they have made up their mind to buy and we deliver the item to their doorstep.”

    Loyalty, cashback, wallets and HD services are some areas where Central has been focussing and has seen better results with technological advancements.

    “With the help of technological advancements, we have observed a hike in business contribution from loyal customers and payment wallets to overall customers,” Prasad says, adding, “A few other features that we offer at Central include priority billing counters for our customers, introduction of many unique services like automated wheel chairs in store for special customers.”

    Currently, the company is operating 44 Central stores in large cities (including Mumbai, Bengaluru, Hyderabad, Pune) and some in smaller cities such as Indore, Patna, Baroda and Surat.

    “We shall be touching 50 stores in just a few months from now,” says Prasad. “Our focus is towards nurturing and identifying the relationship with loyal patrons along with using digital wallets and digital medium as an overall means to enhance the formats footprints,” he adds.

    At present, Future Group – which is selling 30 crore garments annually – occupies a 35 percent market share in the fashion segment.

    “We are expecting fashion to contribute Rs 70,000 core to the company revenue in the next seven years,” says Kishore Biyani.

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  • Luxury brands open stores in Ambience Mall India

    Luxury brands open stores in Ambience Mall India

    Ambience Mall, Gurgaon, with some of the biggest food and fashion brands such as H&M, Gap, Zara, Marks & Spencers, Kiko Milano, Luxe Bridge, Iconic, Da Milano, Jack & Jones, Cover Story, Ritu Kumar etc, is the perfect destination for shoppers of all age groups. To augment its standing as the numero uno, two more luxury brands Ted Baker and Hackett London have opened their stores in the mall recently.

    British clothing and accessories brand Ted Baker known for designer apparel and signature tailoring opened its latest store at the Ambience Mall, Gurgaon. The store is equipped with glamorous interiors and tons of charm. The brightly-lit store will house their wide range of both menswear and womenswear. Ted Baker is a mainstay for every stylish wardrobe with a collection of bright dresses, tops, menswear, luxe accessories and add-ons.

    Located adjacent to the Ted Baker store, Hackett London is a multi-channel British menswear retailer, specialising in vintage clothing for men. As the official couturier for the British Army Polo team, the Henley Royal Regatta, the BAFTA awards and Aston Martin Racing, Hackett London is steeped in Britain’s rich sartorial heritage. With a wide repertoire of fine casual and formal clothing the store is a niche addition to the malls offering.

    Speaking on the store launch, Arjun Gehlot, Director, Ambience Malls, said, “We are delighted to have some of the best international fashion luxury brands Ted Baker and Hackett London in our mall. This is part of our commitment to offer International and Domestic premium quality brands to our customers under one roof. We will continue to bring best quality brands in the future as well.”

    The Ambience mall with the best offers in shopping, entertainment and culinary offering under its roof is the definitive favorite of shoppers looking for premium international and domestic brands. With an eclectic mix of top international and Indian clothing brands to cater to all age groups, wide array of entertainment options and unique decorative concepts that is constantly refreshed in-tune with changing seasons and festivities, the Ambience Mall, Gurgaon has indeed cemented its place as the perfect destination for shopping enthusiasts and thrill seekers in Delhi-NCR.

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  • Superdry forays into sports fashion category, to open 50 retail stores in 3 years.

    Superdry forays into sports fashion category, to open 50 retail stores in 3 years.

    Recognizing the immense scope in the lucrative fitness market that has hit the country, Superdry announces its venture into Sports category under the name SuperdrySport. The brand is all set to open its first exclusive Sport store in the country that will celebrate technical sports gear, athleisure, great design and outstanding craftsmanship at DLF promenade, Delhi.

    From technical gear to workout essentials, SuperdrySport has everything from active wear, athleisure and sportswear. With pieces engineered to enhance performance and aid- goal focused activity, to more fashion lead items made with sports fabrics but designed more to turn heads, there are items carefully mastered to suit whatever your ability. Geometry and pop grid structures are complimented with layered mesh weaves. The highly technical performance range is created with a distinct ‘win’ attitude featuring compression fits and engineered ventilation designs.

    The 1076sqft, brand-owned Delhi outlet located at this premium location retains the Superdry DNA of clean lines set against raw finishes yet takes a leap forward into the fresh brand of SuperdrySport by merging the future technology, lighting and finishes to enhance the experience of the customers. SuperdrySport stores will have the ability to evolve with seasonal change, product sales and popularity or gender demand allowing maximum traction from every square meter. It is sure to catch the eye of a millennial customer.

    Millennials are increasingly buying clothing that’s characterized by durability and utility, this shift has led to a surge of interest in brands offering innovative designs, new functionality and practical fashion.

    With many celebrities donning the athleisure look, the trend has reached Tier 2 & Tier 3 cities as well. Having understood this potential Superdry plans to open stores in these cities as well soon.

    The report published by Global Industry Analysts Inc., the global market for Sports and Fitness Clothing is projected to reach US $231.7 billion by 2024. The research also indicates that technological developments designed to improve comfort and performance has also led to the growth in sales of sports apparel. The report points out that the Asia-Pacific region is expected to be fastest growing region, with a CAGR of 6.9 percent over the forecast period. Sales came from emerging markets, such as India and Thailand, as well as the US, the world’s largest sportswear market.

  • Indian consumers ask Amazon to resume Pantry service

    Indian consumers ask Amazon to resume Pantry service

    The Indian users of online grocery delivery service Amazon Pantry have taken to Twitter to urge the e-retail major to resume services ever since it was discontinued on February 1. “Currently, pantry items are not available on Amazon. Kindly stay tuned for more updates. Thank you for understanding,” Amazon responded to its Indian users in a tweet. The service became unavailable in India on February 1, the day revised norms for Foreign Direct Investment (FDI) in e-commerce came into force in the country.

    Following the new norms, Amazon has also removed from its website sellers such as Cloudtail India and Appario Retail Pvt Ltd in which it owns a stake.

    “I am missing Amazon Pantry service which catered to my monthly needs. It was super convenient,” tweeted a user.

    “What happened to Amazon Pantry? Please fix it,” read another user’s tweet.

    Under the Ministry of Commerce and Industry’s new guidelines issued on December 26, e-commerce platforms providing a marketplace are barred from exercising control or ownership over the inventory.

    They are also barred from allowing any company to sell its products exclusively on their e-commerce platforms alone.

    The Indian arm of the Seattle-based e-commerce giant did not respond to questions by IANS on the expected impact to its business in the light of the revised norms.

    While the company had earlier in a statement to IANS said that “it has always operated in compliance with the laws of the land”, it did not respond to queries on the changes it may have to make to its business model to suit the new norms.

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  • Puma Shuffle makes its debut in India

    Puma Shuffle makes its debut in India

    Global sportswear brand Puma has launched Puma Shuffle, a street style weekend pop up space in Indiranagar, Bangalore on February 02, 2019. With an aim to become the hub for growing sub-cultures in the city, Puma has introduced a brand new concept that emerges over weekends to provide a dedicated space for creative expression.

    PUMA Shuffle is created on the notion of an alter ego where the identity of the place oscillates between a friendly neighbourhood bar, Watson’s and a high-energy creative space that celebrates live music and sub-cultural communities of the city over the weekend. The fluid pop up space by Puma comes to life on Friday and Saturday evenings with gigs by an eclectic selection of DJ’s, musicians, artists, designers and sneakerheads.

    Speaking about the new concept, Abhishek Ganguly, MD, Puma India, says, “Bangalore has always been a hub for culture, but it’s time to re imagine the city’s cultural landscape with the rise of a new generation of youngsters who are using sneaker, street art, skateboard, hip hop battles, and basketball as a form of self expression. Puma Shuffle, is an innovative concept aimed at being the hotbed for such communities and sub cultures, giving them a dedicated space, impetus and empowerment they need. This new concept of shuffling between two spaces will also be a great visual, gastronomical and creative experience for our consumers all under one roof.”

    Resonating the dual identity of the space, the aesthetics are all about fusing the two entities and creating a concept that allows a smooth transformation from one identity to the other. The interiors exude an old world, heritage charm with soaring arched windows and a barrel roof with an unfinished surface that gives the space raw yet regal feel. The quirky wall art and live animation breaks the earthy palette to give the space a distinct personality. The mezzanine floor displays live graffiti – a cat silhouette and Puma Shuffle artwork are brought to life by animated projections. Vibrant layered art with mixed styles of graffiti adorns the wall beside the staircase.

    Created by artist Badaal, the edgy illustration also pays homage to two of Puma’s big sneaker names – Puma Suede and RS-X Toys. There are also 5 arched frames that house images of international Puma assets on the top floor. In keeping with Puma’s first sustainable store, located below, the idea was to retain elements from the existing space and reuse materials to construct the new venue.

    Puma Shuffle provides both a great visual and gastronomical treat for the audience. Much like the vibe of the place, the menu curated for Puma Shuffle is new age, vibrant and refreshing. On offer is a medley of cuisines from different corners of the world, including a few local favourites, that makes one keep coming back for more. In keeping with the theme of the space, the bar is hooked up with a mechanical pulley system used to elevate the wrought iron lighting at the facade. Here, an array of fun cocktails are created by expert mixologists.

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  • E-commerce share to rise to 12pc from 2pc in 10 years: Walmart India CEO

    E-commerce share to rise to 12pc from 2pc in 10 years: Walmart India CEO

    Share of e-commerce is set to rise, despite the growth in brick and mortar or physical retail from 2 percent to 12 percent over the next 10 years, aided by pick up in Omnichannel format, said Krish Iyer, President & CEO, Walmart India and Chairman of India Food Forum, at India Food Forum 2019 on Tuesday. Gap between physical and digital needs to be bridged as the consumer is going digital in terms of experience as also his touchpoints, he said delivering the inaugural address at the two-day India Food Forum 2019.

    Sharing his insight at Walmart, Iyer said that by enriching customer experience, the consumer started buying Rs 180 over Omnichannel instead of buying Rs 100 from the store itself and later the ratio in the store was Rs 70 while digital was Rs 110. Calling for technology adoption as key to retail growth, Iyer enumerated four key challenges led by food security, safety & nutrition, food wastage and sustainability.

    “Feeding a rising world population of 10 billion from 7 billion amid rising death of infant children due to malnutrition, changing climatic conditions are key challenges. In India, phenomenal efforts are made on the regulatory front for safety and nutrition that will follow with awareness, compliance and enforcement of law. Significant investment amounting to Rs 92,000 crore in food processing in catchment areas is needed to overcome the wastage of 30 percent of all food and 40 percent of fruits and vegetables,” he said.

    Earlier, speaking at the forum, Ajay Macaden, Executive Director, Nielsen said, “Consumers have evolved now for omni-channel even for specific categories like milk and bakery. Increased internet and smartphone penetration has led to multiple shopping channels and change in consumer behaviour.”

    In markets around the world categories such as travel, entertainment (books, music, events) and durable goods (fashion, IT/mobile, electronics) are the front runners for consumers to enter the online retail sphere. Consumers are, however, also looking for e-commerce options for an increasing range of categories, as their more immediate needs for convenience and ease expands, Macaden said.

    Consumers in APAC (Asia Pacific) have even evolved to fresh grocery and packaged goods with China, India, Japan and Korea leading the market. In fact, packaged grocery food and fresh groceries are showing the highest percentage growth of all categories in 2018 in this region, he said.

    Other key speakers at the forum included Damodar Mall, CEO, Reliance Retail (Supermarketwala), Sadashiv Nayak, CEO Food business, Future Group, Mohit Kampani, CEO, Aditya Birla Retail, C. Gopalkrishnan, Founder, N. Supermarkets, Ramesh Menon, Former CEO, Hypercity, Mohit Anand, MD, Kellogg, India and South to name a few.

  • Walmart may exit Flipkart due to new FDI rules: Morgan Stanley

    Walmart may exit Flipkart due to new FDI rules: Morgan Stanley

    Retail giant Walmart may exit Flipkart after India’s new Foreign Direct Investment (FDI) norms for e-commerce companies came into force, US investment banker Morgan Stanley has warned. “An exit is likely, not completely out of the question, with the Indian e-commerce market becoming more complicated,” the report by Morgan Stanley said late Monday.

    According to the report, Walmart-Flikkart saga might turn out to similar to what happened with Amazon in China in late 2017.

    “There is a precedent for an exit as Amazon retreated from China in late 2017 after seeing that the model no longer worked for them,” the report read.

    “We estimate that Flipkart derives 50 per cent of its revenue from this category, meaning Flipkart could face meaningful disruption and top-line pressure in the near term,” it added.

    The new FDI rules may require Flipkart to remove as much as 25 per cent products from its platform including smartphones and electronics that constitute a bulk of sales, said Morgan Stanley.

    On February 1, disruption was caused in the e-commerce operations in India of the two companies after the new FDI norms for the e-commerce sector came into effect.

    The norm prohibited the online retailers from mandating any company to sell their products exclusively on its platform.

    In the new policy, the Commerce Ministry also noted that the online retail firms would not directly or indirectly influence sale price of goods and services and would maintain a level playing field.

    Amazon India had to withdraw many of its products and they were listed as “currently unavailable” as the new norms prohibit the e-retailers from selling products of companies in which they have stakes.

    The two companies have together lost market capitalisation of $50 billion.

    Amazon lost market capitalisation of over $45 billion on Nasdaq while Walmart lost over $5 billion on the NYSE.