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

SBI Card, today announced the launch of ‘Aditya Birla SBI Card’, a highly rewarding lifestyle credit card, in a strategic partnership with Aditya Birla Finance Ltd (ABFL), the lending subsidiary of Aditya Birla Capital Ltd. The card has been designed to give customers significant reward points on their spending around telecom, fashion, travel, dining, entertainment, […] from Indiaretailing.com https://ift.tt/05ImLdK via IFTTT

Lenskart and Japanese Direct-to-Consumer eyewear brand OWNDAYS today announced a strategic partnership via a merger to build the region’s largest Omni-channel eyewear business.  This will take the group’s reach to 13 markets in Asia including India, Singapore, Thailand, Taiwan, Philippines, Indonesia, Malaysia, and Japan. OWNDAYS Co-founders, CEO Shuji Tanaka, and COO Take Umiyama, will continue […] from Indiaretailing.com https://ift.tt/kGCo53V via IFTTT

Home-focused Indian D2C brand HomeTales has announced a 204 % increase in sales volumes in FY22 . Established in 2020, HomeTales offers a wide selection of products designed and adapted for Indian households. While the HomeTales range comprises over 3500 products, more than 90% of the sales come from leading categories like kitchenware, storage products, […] from Indiaretailing.com https://ift.tt/iwktHh7 via IFTTT

ASICS, a Japanese sports performance brand, has announced cricketer Prasidh Krishna into the ASICS family. He broke a 24-year-old Indian record for most wickets in an ODI debut by picking up 4 wickets against England in March 2021. The fast-pacer bowler is admired by the younger generation across the country for his dedication, and pursuance, […] from Indiaretailing.com https://ift.tt/7rtcDZ6 via IFTTT

Wrangler, announced the launch of its new flagship store at Linking Road in Mumbai. This is the 39th store of Wrangler in India and the first in Mumbai. With a wide inventory assortment comprising jeans, T-shirts and shirts, the store is spread across 950 sq. ft. in the heart of one of India’s largest shopping […] from Indiaretailing.com https://ift.tt/PeYILFt via IFTTT

Leading sportswear giant adidas unveiled their largest store in Bengaluru, located at Brigade Road. The store is a blend of multiple digital touch points and embodies the future of retail experience for consumers.The store is spread across 6500 sq. ft of retail area across four floors, the store focuses on 3 important pillars which are […] from Indiaretailing.com https://ift.tt/DJ9WQAf via IFTTT

Figaro Olive Oil celebrates the announcement of its entry into a new product category with Figaro Baby. This all-new product – Figaro Baby Massage Oil – is dermatologically tested and specially designed for a baby’s delicate skin to improve skin hydration. The oil is developed with an all-natural formulation that nourishes and makes the skin soft. […] from Indiaretailing.com https://ift.tt/bdHYyAC via IFTTT

Modicare, recently forayed into the UK and marked a significant milestone in its strong legacy of empowering people and giving them Azadi. Part of the multi-billion dollar conglomerate Modi Enterprises, Modicare is the pioneer of direct selling industry in India and has been at the forefront of changing lives for over 26 years. Through this […] from Indiaretailing.com https://ift.tt/yLupJER via IFTTT

Aasheesh Mediratta is the CEO of  SSIPL Retail Ltd, and heads the retail & distribution divisions at SSIPL Group. SSIPL is an integrated sportswear company that has been in the business of Retail, Distribution & Manufacturing of international Sports & Lifestyle brands since 1994. With a nationwide network the brand has ~270 exclusive and multi-brand […] from Indiaretailing.com https://ift.tt/y8n1OfB via IFTTT

Wellness Forever Medicare Limited, an omni-channel retail pharmacy with a network in western India has announced the opening of two stores to further its presence in Maharashtra. The chain also has presence in Goa and Karnataka. The stores are located in Nagpur at Darodkar Square and Trimurti Nagar. The stores aim to provide a distinctive […] from Indiaretailing.com https://ift.tt/DojIFgl via IFTTT

Ethnix by Raymond opened its largest flagship store at Ajmal Khan Road, Karol Bagh on 24th June 2022 (Friday) .The store covers an area of about 5,300 sq. ft distributed across three floors. The store has a huge façade area of about 60*40 ft.   Preeti Chopra, National Head Business Development – Retail at Raymond Limited […] from Indiaretailing.com https://ift.tt/bvIiY0A via IFTTT

Innovative home decor start-up, WallMantra has seen its turnover go up from ₹ 2 crores to ₹ 20 crores since lockdown. It now aims to reach the Rs 100-crore mark by 2025.  Jitesh Agarwal, CEO of WallMantra, says, “When we started WallMantra in 2017, our goal was to give a trendy décor option – wall […] from Indiaretailing.com https://ift.tt/iGMKF83 via IFTTT

The vegan, derma-certified homegrown brand, Mom and World has recently launched its range of Kids products by name of KIDSY on its e-commerce website. The brand ambassador of Mom and World, Anita Hassanandani will be promoting the products across various platforms.  While most mother and baby care brands target only the beauty and baby needs […] from Indiaretailing.com https://ift.tt/gHQPICb via IFTTT

BlueStone has launched a new store at Oberoi Mall, on the western express highway at Goregaon east in Mumbai.  The store is spread across 1,000 sq. ft., offering an elevated shopping experience with 400+ hand-picked styles from over 8600 designs spread across BlueStone’s 100+ collections which includes necklaces, pendants, rings, earrings, solitaires, and jewellery for […] from Indiaretailing.com https://ift.tt/BWcQ7Lk via IFTTT

Global retail conglomerate Lulu Group recently announced its expansion in three more Indian cities namely Chennai, Hyderabad, and Ahmedabad. After successfully entering the North Indian retail market with Lucknow, Lulu Group announces its entry into Western India with Ahmedabad. Along with Ahmedabad Lulu Group will further expand its retail footprints in the South Indian market […] from Indiaretailing.com https://ift.tt/V2uio0J via IFTTT

ASICS, a Japanese sports performance brand, unveiled its store at Ambience Mall, Gurugram in an all-new avatar in the presence of its brand ambassador and Bollywood actor Tiger Shroff.  Located in the Millennium City of India, the store embodies the future of retail experience for consumers. The store is spread over 1300 sq. ft of […] from Indiaretailing.com https://ift.tt/LZ1okAR via IFTTT

Fabriclore announces the launch of its experience center in Jaipur. The store is spread across  approximately 1200 sq.ft, part of a 25,000 sq ft experience facility, this store has been  designed as an interactive space to understand & explore endless possibilities with  fabrics, extending across a number of categories and services. Accoutred with a display […] from Indiaretailing.com https://ift.tt/0sLeCyU via IFTTT

// Boohoo hires ex-Asos and Amazon executive Shaun McCabe as new finance boss // McCabe, who has been a non-executive director at the retailer since 2020, will replace Neil Catto Boohoo has appointed former Asos and Amazon exec Shaun McCabe as its new finance chief. McCabe, who has been a non-executive director at the retailer since 2020, will replace Neil Catto who will stay on the board as an executive director responsible for strategic projects. McCabe is currently CFO of Trainline. He was previously international director of Asos and CFO for Amazon Europe. Boohoo said McCabe is expected to take up his new role later this year, with Catto remaining as finance chief until then. READ MORE: Boohoo posts first ever UK sales drop as shoppers face cost-of-living crisis The online fashion retailer posted its first UK sales drop last week as it struggles with supply chain disruption and shifting post-pandemic consumer trends. Boohoo posted a 1% fall in UK revenue while overal...

// Asda boss urges government to consider reducing VAT to help with cost-of-living crisis // Some shoppers are setting £30 limits at Asda tills as they cut back on spending Asda chair Lord Stuart Rose has urged the government to consider reducing VAT or further cutting fuel tax to help “kill” inflation. The Big Four supermarket said on Wednesday that some shoppers are setting £30 limits as they cut back on spending amid the current cost-of-living crisis. Rose told BBC News that such measures would be “helpful” and that more should be done to ease the burden on low income households. READ MORE: Asda: shoppers are setting £30 limit at tills as cost-of-living crisis bites “People are trading back. They are worried about spending. They’ve got a limit that they’ve set out, too. They say £30 is one limit and if they get to more than £30 then that’s it, stop. It’s the same with petrol,” Rose said. Asda’s latest disposable income tracker showed that in May households had, on ave...

// Boots’ bidders to make binding offer but are placing hopes on quartet of lenders // Apollo Global Management and Reliance Industries has lined up Royal Bank of Canada, Credit Suisse, Santander, and Bank of America to help finance Boots’ only bidder to make a binding offer is placing its hopes on a quartet of lenders as fears grow for global debt markets about large-scale takeovers. A consortium comprising Apollo Global Management and Reliance Industries has lined up Royal Bank of Canada, Credit Suisse, Santander, and Bank of America to help finance part of the £5 billion-plus acquisition, according to Sky News . Financing markets have soared since Boots was put up for sale by Walgreens Boots Alliance, its US parent company, several months ago. READ MORE: Boots takeover in doubt as buyers struggle to raise finance Meanwhile, part of the Apollo-Reliance bid is expected to be funded by equity, but remains uncertain as to how much debt would be piled onto Boots in the ev...

// B&M boss Simon Arora, who stood down from the CEO role last month, was paid £5million last year // He was paid more than Tesco boss Ken Murphy Outgoing B&M boss Simon Arora was paid £5 million last year, the company’s annual report revealed. Arora’s pay eclipses the £4.7 million earned by Tesco boss Ken Murphy last year , making him one of the best paid CEOs in retail. The B&M boss’ take home pay was up on the £3.7 million he was paid the prior  year earlier and was made up of a £810,000 salary, which was topped up by a £2.6 million long-term share bonus and an annual bonus of £1.5m, half of which is paid in shares. The bumper payday comes despite B&M profits in its full-year to 26 March dipping slightly from £626million to £619million . Arora also warned that profits would fall in its current year amid the cost-of-living crisis. READ MORE: B&M hires former Asda exec Alex Russo as new CEO Arora has helped to transform B&M from a small, loss-...

// Frasers Group has upped its stake in Hugo Boss // The retailer values its holding in Hugo Boss at £770 million Mike Ashley’s Frasers Group has upped its stake in luxury fashion brand Hugo Boss. The Sports Direct-owner now holds 3.4 million shares of common stock, which represent 4.9% of Hugo Boss’s share capital, and 18.3 million shares of common stock via the sale of put options, representing a further 26% stake. Frasers Group values its total stake in Hugo Boss, including the put options, at approximately £770m. “This investment reflects Frasers Group’s belief in the Hugo Boss brand, strategy and management team. Frasers Group continues to intend to be a supportive stakeholder and create value in the interests of both Frasers Group’s and Hugo Boss’ shareholders,” it said. READ MORE: What’s next for Missguided under Frasers Group? Frasers Group owns retailers including House of Fraser, Sports Direct, Flannels, Game, Jack Wills, Evans Cycles and Sofa.com. The retail gro...

This fast-growing, omni-channel, convenience commerce player  is harnessing the power of technology to serve consumers within 15-30 minutes through its brick- and- mortar stores and instant delivery App round the clock, 24/7, throughout the year. Globally, convenience retail is over a trillion dollar industry but paradoxically it has only a fleeting presence in a country […] from Indiaretailing.com https://ift.tt/GeEgVk7 via IFTTT

// Fenwick has launched a luxury fashion rental service in collaboration with Front Row London // The collection launches on June 22 and will see coveted designers and top trends available in Fenwick’s Bond Street and Newcastle stores Fenwick will launch a luxury fashion rental service in collaboration with clothing hire specialist Front Row . The rental service launches today at the department store’s Bond Street and Newcastle branches and will allow shoppers to hire clothing from top designers, encouraging a more sustainable purchase. Customers will be able to rent pieces from its line-up of couture, ready-to-wear, occasion pieces. Fenwick has curated an exclusive edit from Front Row’s extensive rental collection, featuring hundreds of styles. READ MORE: Fenwick plans £40m multi-year investment for Newcastle flagship Customers will also have the option to rent pieces for 3 days to 5 days, with an easy and convenient return policy. “Fenwick is launching this rental servic...

// JD Sports profits more than doubled against pre-pandemic levels in a record year for the retailer // The sportswear giant said it had interviewed a number of “high calibre candidates” to replace Peter Cowgill as CEO. Cowgill was ousted last month amid a slew of regulatory issues for the retailer. JD Sports profits doubled against pre-pandemic levels in a record year for the retailer as it revealed it has interviewed a number of high calibre candidates for its new CEO. When removing exceptional items, pre-tax profits hit £947,3m, more than double the retailer’s previous record profit, which was delivered before the pandemic in the year to 1 February 2020. Despite the cost-of-living crisis, JD Sports interim chair Helen Ashton said it had been encouraged by resilient consumer demand and believes that profits will be in line with this record performance in the current year. Ashton said it had been a year of “outstanding progress” for JD Sports. “This result demonstrates our ca...

IKEA (part of the Ingka Group), the world’s leading Swedish home furnishings retailer will open the doors to its largest store in India so far, in Nagasandra, Bengaluru. The Nagasandra Store is IKEA’s fourth store in India and the e-commerce and app services in June 2021. The store is located next to the Nagasandra metro […] from Indiaretailing.com https://ift.tt/24tNoDW via IFTTT

// Morrisons group commercial director Andy Atkinson is to leave the business after 10 years // Chief operating officer Trevor Strain will take on responsibility for the commercial team as the grocer gets rid of the group commercial director role Morrisons group commercial director Andy Atkinson is to leave the retailer as it scraps the role. The grocer’s chief operating officer Trevor Strain, who has previously held Atkinson’s role, will now take control of Morrisons commercial team. Atkinson has worked at Morrisons for more than a decade, and previously held the roles of trading director, own-brand and sourcing director, and group marketing and customer director. READ MORE: Morrisons owner eyes £600m sale of property assets The personnel changes came with a note from Morrisons chief executive David Potts saying that he had reviewed the business to make it more competitive amid the cost-of-living crisis, according to The Grocer . The publication understands that Atkinson ...

// Black Pound Day is launching their first ever permanent store in Westfield London // The store opening will enable more than 80  black  owned businesses to sell to Westfield London shoppers Two years on from their launch in 2020, Black Pound Day is launching their first permanent store in Westfield London where more than 80 black owned businesses will be able to sell their products. On 25th June, the leading movement for black-owned businesses in the UK will be opening the doors to the storefront following last year’s successful pop-up store in the shopping centre. The store will feature a range of products within haircare, homeware, fashion , beauty and a variety of other sectors. READ MORE:  Three big retailers that successfully target ethnic minority shoppers British businesses lose £4.5bn of sales by overlooking black and Asian consumers What can retailers do to reduce ethnic pay gaps? With the aim to get both brands and shoppers back on...

Lovers of cheap fashion rejoice! Primark has finally bitten the bullet and ventured into the world of online shopping.  Ok, it’s not quite a full online offer – but its announcement that it will start offering click-and-collect on kids products from 25 stores in the northwest later this year is still a dramatic about-turn for the value fashion giant who just last year was resolute in its decision to shun ecommerce. The retailer was convinced that it wasn’t possible to make money when selling its low-cost wares online. Last January John Bason, finance chief at Primark owner Associated British Foods, told Retail Week : “ If you go online, or even click and collect, you’re going to be adding costs,” he said. “A third party needs to pick and pack individual items, and as soon as it comes out the carton it costs money. If it’s a pair of £1 flip-flops, by the time you’ve picked it your profit is gone. If it’s a £3 item, by the time you’ve picked it and packed it, your profit is gon...

Chai Point has announced the appointment of Manmeet Vohra as Chief Brand and Digital Officer. With 20 years of strategic brand building experience and special expertise in the Consumer Retail Lifestyle Industry, Vohra, in her storied career, has led brand building for renowned international brands including Starbucks, Visa and TAG Heuer. She started her luxury […] from Indiaretailing.com https://ift.tt/FPpZQD7 via IFTTT

// Retailers are set to meet with Treasury minister Lucy Frazer on Wednesday to discuss whether the government should introduce an online sales tax // Fears are rife that the government could abandon plans due to the difference of opinion by big retailers over the proposed tax Leaders from some of the UK’s biggest retailers, including Amazon, Asda, Asos and Currys, will hold talks with a Treasury minister this week as concerns grow that the government’s appetite to bring in an online sales tax is waning. The retail execs will meet with Lucy Frazer, financial secretary to the Treasury on Wednesday to make their case for reform of the business rates system and the introduction of an online sales tax, according to Sky News . It comes as the government’s consultation on such a tax was closed last month. Retail has been split on the matter with businesses such as Tesco, Sainsbury’s, The Co-op, Morrisons and Kingfisher forming the the Retail Jobs Alliance , which is pro online tax, ...

// Menkind owner Gift Universe has bought Prezzybox for an undisclosed sum // The acquisition will help Gift Universe expand into the female gifting market Gift Universe, the parent company of gifts and gadget specialist Menkind, has acquired etailer Prezzybox. The acquisition is for an undisclosed sum and will help Gift Universe extend its reach into the female gifting market to complement Menkind’s stronghold with male shoppers. It follows Gift Universe’s acquisition of toys retailer Hawkin’s Bazaar in November , as the company furthers its strategy of developing specialised highly targeted offers across the gifting market. Family-run Prezzybox was set up by Zak Edwards in 2000 with a mission “to create moments of happiness by delivering the extraordinary”.  READ MORE: Moonpig to acquire gifting business Buyagift for £124m Gift Universe said there will be “no significant change” to Prezzybox under its ownership and will maintain its brand name, identity, ethos and...

// Gilly Hicks opens its first standalone retail location in the UK located at 39 Carnaby Street // The new store marks the Abercrombie & Fitch retailer’s second location in Europe Gilly Hicks has opened the doors to its new Carnaby Street flagship store in London, marking the fashion retailer’s first UK standalone store. The lingerie brand is owned by Abercrombie & Fitch, which also operates Hollister, and it specialises in women’s intimates and loungewear, competing with Victoria’s Secret. The flagship on 39 Carnaby Street is of the brand’s growth strategy to expand its product assortment, enhance its digital experience, and its “reimagined brand purpose” as it moves to become more gender-inclusive. The new Gilly Hicks UK store on Carnaby Street marks the retailer’s second location in Europe, adding to the flagship it opened in Germany earlier this year. READ MORE: Abercrombie & Fitch launches new activewear subbrand YPB Abercrombie & Fitch Co  gl...

//  Etsy has been accused of not paying enough tax in the UK after only paying out £128,000 despite pulling in £160 million in sales. Had the handmade goods platform booked all of its sales in the made in the UK at its local entity Etsy UK, it would have been liable to pay some £7 million in corporation tax, according to TaxWatch. READ THE FULL STORY HERE Click here to sign up to Retail Gazette‘s free daily email newsletter The post Etsy only paid £128,000 in tax despite pocketing £160m in sales appeared first on Retail Gazette . from Retail Gazette https://ift.tt/LVQfecP via IFTTT

// Alex Freudmann will be joining M&S as managing director of food in a planned succession to Stuart Machin // Freudmann will join M&S on 1 November and will sit on the executive committee M&S has hired Alex Freudmann, boss of Australia’s leading beer, wine and spirits retailer Dan Murphy, as its new managing director of food. Freudmann replaces Stuart Machin, who became chief executive of the food business late last month. He will join M&S on 1 November and will sit on the executive committee. Freudmann has an extensive track record of leading change in some of the world’s best food a New M&S managing director of food Alex Freudmann nd drink retailers, including Tesco , Coles and Dan Murphy’s. READ MORE:  M&S Rowe departs after £2.6m payday as new bosses target bumper bonus Tesco, Waitrose and M&S linked to illegal fees for workers M&S profits and sales beat pre-Covid levels as it fully exits Russia Freudmann joined Dan Murphy’s...

// Primark will launch a click-and-collect trial from 25 stores in the northwest of England selling children’s products // The move will “satisfy unfulfilled demand” and will help drive higher footfall and incremental sales in store Primark is to launch a click-and-collect trial as it takes its long-awaited first steps into online shopping. The fashion retailer, which currently has a popular non-transactional website , will begin to offer click-and-collect on children’s products towards the end of the year from up to 25 stores in the northwest of England.  It has opted to trial children’s products as it believes it has the potential to “satisfy unfulfilled demand” and would help to drive higher footfall, from both existing and new customers, and incremental sales in stores. The click-and-collect service will offer 2,000 options across clothing, accessories and lifestyle products. Around 40% of these options are exclusive to click-and-collect customers. The retailer said: ...

// Asda paid more than £375 million in interest on its highly leveraged takeover deal last year // Asda was bought by the Issa brothers and TDR Capital for £6.8 billion in 2020, but the pair only put £800 million equity into the deal Asda paid £375.1 million in interest last year on its owners the Issa brothers and TDR Capital’s highly leveraged £6.8 billion deal to buy the supermarket. As a result of the £4.06 billion of debt used to finance the takeover, Asda has pai d £202 million of interest on external debt, £106 million on lease liabilities, £56 million on intercompany loans and £2 million of additional undisclosed interest payments, according to documents filed at Companies House. The filings also show that Asda’s owners now value the supermarket at £9.22 billion, according to The Times . The Issa brothers and TDR, which also jointly own petrol forecourt business EG Group, put in less than £800 million of cash when they snapped up Asda in October 2020. Asda’s takeover w...