Latest Retail Insight, News, Information & Articles from all top sources for the Internet.

Former Myntra CEO Ananth Narayanan’s new startup Mensa Brands has announced the closure of its Series A funding round, raising approximately USD50 million. The round was led by Accel Partners, Falcon Edge Capital, Norwest Venture Partners along with angel investors such as Kunal Shah, Mukesh Bansal, Rahul Mehta of  DST Global, and Scott Shleifer of Tiger Global. Additionally, debt financing facilities from Alteria Capital and […] from Indiaretailing.com https://ift.tt/2SJCI6J via IFTTT

Leading retail real estate company The Phoenix Mills Limited (PML) and Canada Pension Plan Investment Board (CPP Investments) have announced the execution of definitive documents for a new joint venture to develop a regional retail centre in Alipore, Kolkata. CPP Investments will commit to investing approximately INR 5.6 billion in Mindstone Mall Developers Private Ltd. […] from Indiaretailing.com https://ift.tt/3wLGxH2 via IFTTT

B2B online marketplace platform TradeIndia has formally announced its entry into the B2B e-commerce space with the launch of TI Shopping, a state-of-the-art e-commerce platform where customers can buy products directly onsite on the TradeIndia platform. Primarily focused on the FMGC category to start with, the B2B trade and ecommerce player has also partnered with […] from Indiaretailing.com https://ift.tt/3p92b5I via IFTTT

Grouping consumers solely by demographics when looking at their buying behaviour and purchase decision-making can give a skewed view of their daily habits and long-term lifestyle choices, says the 2021 update of the 10 global Consumer Types, which are generated using Euromonitor International’s annual Voice of the Consumer: Lifestyles Survey data. The survey coverage includes […] from Indiaretailing.com https://ift.tt/3i01Z7c via IFTTT

The second wave of the pandemic impacted customer footfall and decelerated growth towards the end of March quarter but the economic activity is expected to pick up gradually after June, Aditya Birla Fashion and Retail Ltd (ABFRL) has said, according to a PTI report. The company is working towards strengthening its supply chain and digital back-end as […] from Indiaretailing.com https://ift.tt/2RVwWie via IFTTT

// Tesco to make suppliers take care of their own shipments across the Irish Sea before having them delivered to Northern Ireland // Suppliers’ lobby groups have expressed concern that they would be hit with extra costs as a result of the proposals // The UK is planning on introducing phased border checks on food products in the Irish Sea from October Tesco is reportedly set to make suppliers ship food to Northern Ireland via the Irish Sea themselves, saying the border checks have become a “very complex’ process”. According reports in The Telegraph and The Grocer , Tesco is preparing to change to how it delivers to its stores across Northern Ireland once further Brexit checks are introduced in October. The UK is planning on introducing phased border checks on food products in the Irish Sea from October, but sea border contained in the deal has been the biggest practical challenge, with Northern Ireland having remained part of the EU’s single market for goods while the rest o...

// Advisory group says a Boohoo board incentive scheme could lead to “excessive payouts” // Glass Lewis is advising shareholders to block the re-appointment of co-founder Carol Kane // It cited her “direct role” in the inadequate governance practices” regarding the Leicester factory scandal last year Boohoo co-founder Carol Kane is facing a shareholder revolt regarding her reappointment to the board in the wake of her role in last year’s Leicester factory scandal. Influential shareholder advisory group Glass Lewis urged City investors to block the reappointment of Kane to Boohoo’s board, citing concerns about high pay and her “direct role” in the “inadequate governance practices” regarding the Leicester factories that make the online retailer’s clothes. Last year Boohoo was embroiled in modern slavery allegations after an investigation found workers at one of its Leicester suppliers reportedly undertaking excessive hours in high-risk conditions amid the Covid-19 pandemic, and ...

// Covid-19 pandemic has left retailers with £2.9bn in accumulated rent debts, BRC says // Two-thirds of retailers face legal action once the moratorium ends in July // The BRC says that without action, the end of the moratorium could see thousands of shops close Two-thirds of retailers face legal action once the rent moratorium ends in July, as the sector sits on £2.9 billion worth of unpaid rents, new research has shown. At the end of June, the moratorium on aggressive debt collection from commercial landlords will end, which the BRC said would open up thousands of retailers to legal action. With non-essential retailers closed due to lockdowns for eight of the last 15 months, many have accrued huge debts that they are only just beginning to be able to pay. READ MORE: UK retail rent collection fails to improve, new research shows Trade bodies urge govt to cover 50% of rents to keep businesses afloat Mike Ashley’s Frasers Group ordered to pay rent arrears According to...

Tata Sons, through its wholly owned subsidiary Tata Digital, has acquired a majority stake in India’s largest online grocery retailer  BigBasket (Supermarket Grocery Supplies Private Limited). While Tata Digital has announced the acquisition in a statement, financial details of the deal have not been disclosed yet. Tata Digital CEO Pratik Pal said: “Grocery is one […] from Indiaretailing.com https://ift.tt/2TpYAEu via IFTTT

A couple who had their first date at an Oxford bookshop made a return visit on their wedding day this week. Avid readers Janine, 24, and Joe Shuter, 37, surprised staff at Blackwell’s bookshop shortly after tying the knot yesterday, with their wedding photographer Lucy Judson capturing the moment. “For us, Blackwell’s means everything,” Janine told PA Wires. “It is history, and because it is local – and don’t get me wrong, we still shop at Amazon, it’s about what you can afford – but we know how important local bookshops are. “We really wanted to make sure we found some sort of way, even on a Covid-restricted wedding day, to give back, by spending money at a local bookshop.” The newlyweds returned to Blackwell’s on their big day. (Image PA Wires) The couple, who met through work six years ago and who have an 880-strong collection of books, asked their wedding guests for vouchers, which they used to buy more books – including Romeo And Juliet. “That first date was really spec...

As the 2021 Olympic Games in Tokyo nears, Aldi is running a nationwide competition with Team GB, calling on budding child artists to submit a design for its latest lorry. The discount grocer is inviting school children aged between 5-14 to enter a hand-drawn design by June 25 that celebrates healthy food. The competition is part of Aldi’s longstanding partnership with Team GB, and the shortlisted entries will be judged by Team GB athletes, including the Brownlee brothers, Jade Jones, Lois Toulson, Lutalo Muhammad, Max Whitlock and Shauna Coxsey. The athletes will then select one winner for England and Wales and one for Scotland. This initiative also forms part of Aldi and Team GB’s Get Set to Eat Fresh programme that aims to inspire young people to build their understanding and love of healthy, fresh food. Over the past five years, the programme has reached more than 1.9 million children across the UK. Winners will see their design on an Aldi lorry, which will deliver food and...

// Iceland extends free frozen veg withy Health Start vouchers to cover the summer holidays // The free £1 veg offer has been a lifeline for thousands of families since its launch in September last year // Iceland launched the offer in response to the Child Poverty Task Force recommendations by Marcus Rashford Iceland has extended its giveaway of frozen veg to customers using Healthy Start Vouchers in its stores across England, Wales and Northern Ireland until the end of August. The free frozen veg, worth £1 for every Healthy Start voucher used in store, will boost the value of the vouchers to ensure families have easy access to value nutritious food right up until the end of the summer holidays. In Scotland, families will receive the same offer of free frozen veg each time they spend £4.25 or more on a Best Start Foods card. READ MORE: Iceland wades into caterpillar cake furore with new Bonny the Butterfly cupcakes Iceland boss Richard Walker backs calls for digital sale...

// Poundland commits £2.5m to charity partners Make-A-Wish UK, Tommy’s & Whizz-Kidz UK in next two years // Will also grant £825,000 over next 12 months to community projects starting with kits for kids Poundland today has announced that it has received approval from the Charity Commission to bring all its charity fundraising and donations activity under one banner with the launch of a new foundation. The Poundland Foundation will continue to support the discount retailer’s existing charity partnership with Make-A-Wish UK, Tommy’s and Whizz-Kidz with a £2.5 million commitment over the next two years. Through its new foundation, Poundland will also invest an additional £825,000 in communities over the next 12 months to provide cash grants. READ MORE: Poundland owner Pepco Group enters Warsaw stock market Poundland owner Pepco valued at £4.3bn in Warsaw listing Poundland rolls out chilled & frozen offering to another 46 shops The Poundland Foundation said it would...

// Debenhams has sold off its Magasin du Nord fascia to new owners in an undisclosed deal // Terms of the transaction with Peek & Cloppenburg have not been disclosed // It comes shortly after Debenhams exited the UK high street for good this month The Danish department store fascia owned by Debenhams has been sold to a new owners in an undisclosed deal. Department Store Realisations Limited, formerly trading as Debenhams, today confirmed that it has agreed the sale of Magasin du Nord to Peek & Cloppenburg. The terms of the transaction have not been disclosed. READ MORE: Debenhams London flagship to transform into new retail and office scheme Debenhams exits high street for good Debenhams Irish store staff approve compensation deal Peek & Cloppenburg is one of Europe’s leading multi-brand omnichannel fashion retailers, headquartered in Germany, with 140 stores in 15 countries. Magasin du Nord has seven stores – two in Copenhagen plus Lyngby, Odense, Aarhus...

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// B&M expected to reveal adjusted earnings of at least £590m in its full year report next week // It is also expected to post higher revenues after its UK stores, thanks to benefit of staying open during Covid-19 pandemic B&M is expected to unveil bumper earnings for the past year as its value proposition continued to attract customers during the Covid-19 pandemic. The discount retailer is expected to reveal adjusted earnings of at least £590 million for the year to the end of March in a trading update, to be published Thursday next week. It is also expected to post higher revenues after its UK stores remained open due to their essential status during the three lockdowns. READ MORE: B&M hires The Range’s digital boss as it plans online launch Lidl, B&M, Pets at Home the latest to forgo business rates support B&M continues to trade strongly in fourth quarter Nevertheless, shareholders will be keen to find out if the group was able to maintain the str...

Stay at home or shelter in place came to define the term lockdown in 2020, which in the UK started on 23 March 2020 when the Prime Minister, Boris Johnson, announced that non-essential retail should shut, and citizens stay at home. Over a year later, the impact on the population and its domestic and shopping behaviours had no precedent and caused a wide range of reactions among all those affected. As a sector, retail has had to adjust tremendously and extremely rapidly. Sensormatic has round up all the key facts and data into this  UK retail beyond a year of lockdowns eBook. This report will lookback at: The  situation in the UK  since March 2020 The  impact on retail  nationally The results of our  consumer sentiment survey What is needed to thrive Download Your Free Copy Now The post UK retail during & beyond a year of lockdowns appeared first on Retail Gazette . from Retail Gazette https://ift.tt/2R2pQbi via IFTTT

// Former Dunelm digital director Steve Masterton takes up role of online trade director at John Lewis // Lululemon store director Stephen Spencer appointed John Lewis’ store of the future director // eBay head of brand & marketing Rosie Hanley is also set to join John Lewis a similar role John Lewis has announced the appointment of three new senior hires focusing on online, store estate and marketing roles as part of its wider turnaround and growth strategy. Steve Masterton has this week taken up the role of online trade director at the department store chain, joining from Dunelm where he was digital director. John Lewis said it would would invest £50 million in its website and ecommerce operations and that Masterton would be responsible for ensuring the growth of online across all categories and services. READ MORE: John Lewis should “adapt or die”, chair Sharon White says Sainsbury’s hires former John Lewis boss Paula Nickolds John Lewis founder’s great grandson r...

// London’s West End launches pop-up competition programme // The programme allows companies to showcase their work on London’s world-famous streets // Westminster City Council is offering grants of up to £5000 A new pop-up competition programme has launched in London’s West End in an effort to provide opportunities for small scale businesses and start-ups to have presence in central London. The competition launches to offer prime retail space to innovative brands on and around Oxford Street, Regent Street and in Mayfair. Westminster City Council, in partnership with New West End Company and The Crown Estate, have collectively launched the programme. READ MORE: London’s West End “optimistic” about recovery despite £338m loss The programme aims to help shape the future of the UK’s high streets by testing out innovative concepts through a programme of events, services, and activities. The 10 vacant units will allow companies to showcase their work on London’s world-famous ...

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// Co-op to open franchise store at Keele University // The shop will be managed and run by the Keele University Students’ Union // It will stock a range of Co-op products as well as Fairtrade, free-from and vegan options Co-op has announced plans to launch a new university franchise store at Keele University this September. The shop will be managed and run by the Keele University Students’ Union, and will stock a range of Co-op own brand products as well as Fairtrade, free-from and vegan options. Keele will be the seventh franchise store for the Co-op following openings at Leeds, Kent, Newcastle, Oxford Brookes and Stirling. READ MORE: Co-op accelerates food donation scheme with charity tie-up “Our university franchise stores are a great opportunity for us to grow our brand, share our values, and get our products into the hands of the next generation of customers and members,” Co-op head of new channels Martin Rogers said. “As the exclusive retail grocery store franchis...

// Hammerson drafts in management consultants McKinsey & Company to “assist with strategy” // Hammerson recently launched a real estate sustainability-linked bond of £600m // Last year, Hammerson witnessed the largest decline in net rental income and UK asset values Hammerson has reportedly hired management consultants McKinsey & Company to advise on its ongoing strategic review. The property giant’s new chief executive Rita-Rose Gagné appointed the management consultant firm to “assist with the group’s strategy”, Property Week reported. The appointment comes after shopping centre owners across the country face the effects of the Covid-19 pandemic. READ MORE: Hammerson hires new chief development officer Hammerson recently launched a real estate sustainability-linked bond of €700 million (£600 million) in a move to shift the profile of its existing debt. “The linking of the bond to our sustainability targets brings a stronger alignment between our financial and ...

// JD Sports boss Peter Cowgill banked special bonus after voluntary 75% pay cut // He has been handed almost £6m in bonuses since February last year // JD Group accepted £86.1m in furlough payments for staff JD Sports executive chairman Peter Cowgill has reportedly pocketed a special bonus despite a voluntary 75 per cent cut in basic pay during the pandemic. The boss of JD Group has been handed almost £6 million in bonuses since February last year despite the company accepting more than £100 million in government support. The owner of JD Sports, Millets and Black Leisure, and a string of overseas sportswear chains, accepted £86.1 million in furlough payments for staff and an estimated £38 million in business rates relief last year. READ MORE: JD Sports snaps up Manchester-based clothing retailer Oi Polloi Cowgill agreed to a 75 per cent cut in his basic pay – which fell to £700,000. His annual bonus was also fell from £1.7 million to £1.3 million. However, he banked £3...

// EG Group hails growth in its foodservice business // In the 3 months to March 31, the Asda owner saw a 5.8% increase in group EBITDA to £186.9m Asda owner EG Group has recorded a growth in its foodservice business after witnessing increased profits in the first quarter. For the three months to March 31, the petrol station business, owned by billionaire brothers Zuber and Mohsin Issa, reported a 5.8 per cent increase in group EBITDA to $265 million (£186.9 million). The main reason of growth for the business was in foodservice with gross profits for that reaching $109 million (£76.9 million) – up from $45 million year on year. READ MORE: New Asda owner EG Group buys Leon restaurants Group revenues for the period fell 7.1 per cent to $5.3 billion (£3.7 billion), with fuel sales affected by Covid-19 restrictions – down 5.3 per cent to $415 million (£292.8 million). EG Group’s grocery and merchandise gross profits also fell during the period, down 3.2 per cent to $294 m...

Budgens recently announced it would expand its partnership with the surplus food app Too Good To Go, in a bid to fight the growing issue of food waste. It made it the latest of hundreds of retailers across the UK to have signed up to work with the app last year, which marked was a significant rise on 2019. Now, as non-essential retailers continue to focus on recovery and reopening schemes after the recent lockdown, why are more grocers and food-to-go retailers prioritising food waste? “At the end of the day, food waste does not just have an environmental impact, but also a financial one,” explained Charlie Humphries, brand manager at Karma, an app which allows restaurants and cafes to sell their surplus food. “For every item you throw in the bin, there is lost revenue” “Not just on the food itself but also the time spent preparing it by staff in store and beyond. “Perhaps previously retailers were able to account for a certain level of lost revenue as a result of waste. “But...

// Flooring Superstore opens new stores in Norwich, Lincoln, Hull, Basingstoke, Orpington, Carlisle & Reading within 3 weeks // It is part of a £1m investment to expand, with a goal to open 25 news stores this year Flooring Superstore has opened seven new stores with the space of three weeks as part of a £1 million investment in its store estate expansion. The retailer opened shops in Norwich, Lincoln, Hull, Basingstoke, Orpington, Carlisle and Reading. Flooring Superstore said it was aiming to roll out 25 new stores this year. It comes after the retailer enjoyed its most profitable period ever as people bought more from its websites when shops were closed during the Covid-19 lockdowns. “We have been planning the recent store launches for a while and as soon as the sector got the green-light from the government to resume trading from April 12, we were ready to open from that date,” Flooring Superstore chief retail officer Chris Barber said. “We are seeing lots of first wi...

// Animal relaunches as an online-only retailer following its collapse last year // It is now under the ownership of Mountain Warehouse // Animal had shut all of its stores last year amid the Covid-19 pandemic Animal has been relaunched as an online-only retailer after Mountain Warehouse acquired the collapsed surfwear retailer earlier this year. Animal had shut down close down all of its stores permanently last year amid the Covid-19 pandemic and was due to cease operating as a business by the new year. However, Mountain Warehouse rescued it from complete demise after it bought out the brand from H Young Holdings, which had owned and operated Animal since 2014. READ MORE: Animal to shut down all stores & cease business completely Mountain Warehouse announced today that it was now relaunching Animal as an online-only retailer in time for the summer season. The new spring/summer 2021 collection includes more than 400 products across categories including menswear, wome...

// £72.3m will be paid to retailers permitted to remain open during the most months of lockdown in Northern Ireland // 13,000 other businesses, which had to close, will receive either £5000 or £10,000 top-ups More than £70 million in business grants to support retailers in Northern Ireland as they recover from the Covid-19 have started to be issued. Some £72.3 million will be paid to retailers that were permitted to remain open during the most months of lockdown but struggled due to reduced footfall. More than 13,000 other businesses, which did not qualify for support during the most recent lockdown period, will receive top-up grants. READ MORE: Northern Ireland retail voucher scheme could begin end of summer Non-essential retail in Northern Ireland reopens today Northern Ireland lockdown exit “will move faster if possible” – Arlene Foster Of those, 12,100 retailers will receive a £5000 top-up while more than 1100 retailers will receive a £10,000 top-up. Finance Minist...

// Dreams to be acquired by Tempur Sealy from Sun European Partners for an expected approx. £340m // Dreams will remain a standalone, independent business unit, led by existing management team // Acquisition comes after the bedding retailer’s execution of turnaround strategy since 2013 Dreams is to be acquired by Tempur Sealy from Sun European Partners for an expected purchase price of approximately £340 million. No jobs cuts or store closures have been made and Dreams’ management team will also stay in place, led by Mike Logue who was appointed in 2013. The bedding and mattress retailer will also continue its day-to-day operations and said it would remained committed to its business strategy. READ MORE: Dreams directors exit due to coronavirus crisis With 2000 staff across the UK, Dreams sells 11,500 mattresses, bases and headboards per week  through its network of over 200 stores and ecommerce site. It also makes all of its own-brand mattresses at its factory in Ol...

// Lidl stopped from selling own brand gin in copycat bottle row with Hendrick’s // Lidl says there are “clear & obvious differences” between the Hendrick’s trademark & its own Hampstead gin // The issue was brought before the Court of Session and Lidl has been temporarily forced to stop selling Hampstead in new bottle Lidl has been forced to temporarily stop selling a version of one of its own-brand gins after being sued by the makers of Hendrick’s Gin who claim a trademark has been infringed. The supermarket chain is defending the case and said there were “clear and obvious differences” between the Hendrick’s trademark and its own Hampstead gin product. Hendrick’s Gin is produced by Scottish firm William Grant and Sons and was launched in 2000, with their bottles bearing a diamond-shaped label in a trademark which became effective from January 2012. READ MORE: Iceland wades into caterpillar cake furore with new Bonny the Butterfly cupcakes Friday Fun One: The be...