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Total expenses of the Tata Group FMCG arm stood at Rs 3,318.18 crore, up 9.8 per cent in the September quarter New Delhi:  Tata Consumer Products Ltd (TCPL) on Tuesday reported a decline of 6.55 per cent in its consolidated net profit to Rs 363.92 crore in the September quarter on the back of a strong growth in its domestic business. The company had posted a net profit of Rs 389.43 crore in the July-September quarter a year ago, according to a regulatory filing from TCPL, earlier known as Tata Global Beverages Ltd. Its revenue from operations rose 11.02 per cent to Rs 3,733.78 crore during the quarter under review as against Rs 3,363.05 crore in the year-ago period. Total expenses of the Tata Group FMCG arm stood at Rs 3,318.18 crore, up 9.8 per cent in the September quarter. TCPL’s total income in the September quarter increased 12.71 per cent to Rs 3,823.61 crore. Shares of Tata Consumer Products Ltd on Tuesday settled at Rs 900.60 apiece on BSE, up 0.81 per cent from the p...

The e-commerce brand added a new 198-megawatt wind farm project in Osmanabad, Maharashtra New Delhi: E-commerce and cloud company Amazon has surpassed 1.1 gigawatts of renewable energy capacity in India with an addition of its new 198-megawatt wind farm project in Osmanabad, Maharashtra, the company said on Tuesday. With this, the company now has 50 wind and solar projects across India. The announced addition of “a new 198 megawatt (MW) wind farm in Osmanabad, Maharashtra, bringing the company to 50 wind and solar projects across India and surpassing 1.1 gigawatts (GW) of renewable energy capacity.” The company said that in addition to being the largest corporate buyer of renewable energy globally — a position that Amazon has held since 2020 — Amazon has also become the largest corporate buyer of renewable energy in India. “Amazon’s wind and solar projects will help power all our operations with 100 per cent renewable energy by 2025, while also bringing jobs and economic benefits...

The new store of The House of Rare situated at Phoenix Mall of Asia, Hebbal, North Bengaluru Bengaluru: Omnichannel fashion retail house The House of Rare has launched its largest store in Bengaluru, the company wrote on social media. The new store is situated at Phoenix Mall of Asia, Hebbal, North Bengaluru. “Carrying the essence from our largest store in Jaipur to our largest store in Bangalore, Mall of Asia,” The House of Rare said in a LinkedIn post while sharing the images of the new store.  Currently, the brand boasts more than 12 stores within the city. Bengaluru-based fashion retailer The House of Rare was founded by Manish Poddar and is a subsidiary of Radhamani Textiles Pvt. Ltd. The House of Rare has two sub-brands Rare Rabbit and Rareism. Menswear brand Rare Rabbit was founded in 2015 and launched its first flagship store in UB City, Bengaluru in the year 2017. The company forayed into womenswear with Rareism in 2019 with a flagship store at VR Mall, Whitefield, B...

In this role, Akaltan will lead the operations and growth strategies across the expanded markets, deploying the company’s global smart logistics network to strengthen the UK to India trade lane Mumbai: Global package delivery company UPS on Monday announced the appointment of Ufku Akaltan as the president for its business in the UK, Ireland, Nordics and India. In this role, Akaltan will lead the operations and growth strategies across the expanded markets, deploying the company’s global smart logistics network to strengthen the UK to India trade lane, UPS said in a statement. UPS in India is rapidly expanding to boost local businesses’ international and domestic growth. Its trade capacity doubled with the opening of a second airport gateway in Bengaluru, and a USD 20 million investment in a smart technology centre in Chennai to enable continued innovative advancement, the company said. According to the statement, MOVIN Express, the logistics joint venture between UPS and InterGlo...

At the upper end of the price band, the IPO is expected to fetch Rs 1,701.44 crore New Delhi: Honasa Consumer Ltd, which owns new-age FMCG brands like Mamaearth and The Derma Co, on Monday announced that it has mobilised Rs 765 crore from the anchor investors ahead of its initial public offering (IPO). The company has allotted 2,36,17,228 equity shares to 49 entities at Rs 324 apiece, which is the upper end of the price band, according to a circular uploaded on the BSE’s website. Aditya Birla Sun Life Mutual Fund (MF), Axis MF, Nippon India MF, Invesco MF, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, Government Pension Fund Global, Caisse De Depot Et Placement Du Quebec, SmallCap World Fund Inc, Abu Dhabi Investment Authority, and Goldman Sachs (Singapore) are among the anchor investors. The IPO comprises a fresh issue of equity shares worth Rs 365 crore and an offer-for-sale (OFS) component of 4.12 crore equity shares by promoters, investors, and other sel...

With dedicated pet zones and innovative services, these malls are pioneering a new era of retail therapy that accommodates every member of the family, including the furry ones Mumbai:  As an owner of a Labrador, Monil Sharma often found himself wishing that he and his pet could enjoy exploring shopping malls together just as effortlessly as any other family member. “As responsible pet owners, it’s important for us to expose our pets to different environments and people. Pet-friendly malls allow pets to become more comfortable and well-behaved in various settings,” he said. Well, there’s good news for Monil and pet parents like him. Responding to the increase in the number of pet parents in India, shopping malls have begun opening their doors not only to enthusiastic shoppers but also their pets. “Progressive mall developers should contemplate the creation of pet-friendly spaces to nurture a loyal customer base among pet parents. If our target audience is majorly pet owners, it o...

The new outlet of Tim Hortons is located at the recently opened Phoenix Mall of Asia, Hebbel, North Bengaluru Bengaluru:  Canadian coffeehouse and restaurant chain Tim Hortons has launched its 3rd store in Bengaluru following its debut in the city with two stores in September 2023. The new outlet is located at the recently opened Phoenix Mall of Asia, Hebbal, North Bengaluru. The store also has a space in the ‘Oasis’, a themed food and beverage section in the mall, which hosts open-concept restaurants and upscale cafes including Starbucks, Fyole, Coco Café, Perch, Chaayos, Third Wave Coffee, and Haagen Dazs. Tim Hortons ventured into South India a year after its entry into the Indian market. It opened its first outlet at Terminal 2 of Kempegowda International Airport, Bengaluru on 16 September and that was followed by the launch of its second outlet which is located at 8th block, Koramangala. The company recently opened its first outlet in Pune at Balewadi High Street on 13 Oc...

Pushpa Bector, Senior Executive Director and Business Head, DLF Retail shares insights with Rasul Bailay, Group Managing Editor, IMAGES Group on her strategies for maintaining balance in retail spaces, the focus of upcoming DLF malls, her expectations for this year’s Diwali business and much more. The post This is the decade for retail in India: Pushpa Bector, DLF Retail appeared first on India Retailing . from India Retailing https://ift.tt/uTRV9hn via IFTTT

With this move, Reliance Retail aims to provide more and more touch points to the customer for Urban Ladder, which is now an omnichannel business New Delhi: Leading retailer Reliance has extended the presence of its furniture and home decor brand Urban Ladder at its hypermarkets chain Smart Bazaar and also through b2b institutional sales. Reliance Retail, which owns lingerie brands Clovia, Amante, and Zivame, also said that it has now become a market leader in the women’s innerwear market. “Our new businesses in lingerie, we are making good progress. We are the largest player in this segment now,” said Reliance Retail CFO Dinesh Taluja during Friday’s earnings call of RIL. Now Reliance Retail is looking to expand the lingerie category across retail formats such as Trends, Azorte, Centro and Blushlace, he said. “We continue to expand our in-house brands and we operate across the spectrum from mid-premium to luxury. We are focusing on general trade so that these brands have wide dis...

Armed with two decades of experience, Nissan Joseph, chief executive officer of Metro Brands Ltd. is helping the company stride into its next phase of growth. He speaks about his first steps and key focus areas… New Delhi: Nissan Joseph took over as the chief executive officer of Metro Brands Ltd. (MBL), in July 2021—a time when the company was at a crucial turning point. It was a period when the company was realigning its focus in response to the pandemic-led changing market dynamics, while also preparing for its upcoming Initial Public Offering (IPO). MBL went public in December 2021, six months after Joseph joined. While there were many positives on the business side such as good sales per square foot, positive EBITDA percentages and profitability, it was still the middle of the pandemic with no end in sight…All in all, not the best of circumstances to be in his shoes. However, Joseph took on the role with a vision to capitalize on the company’s years of financial discipline a...

Nissan Joseph, chief executive officer of Metro Brands Ltd. on the strategies and core principles that have helped the footwear player transition from a family-run business to a professional entity boasting a Rs 2000 crore revenue New Delhi: Metro Brands Ltd. (MBL) has been a company with sound financials. Its net profit in fiscal year FY 2019 stood at Rs152.7 crore, in FY 2020 stood at Rs160.6 crore and in FY 2021 it stood at Rs 64.6 crore as reported by leading business media.  In FY 2022 after it went public, its profit after tax (PAT) was Rs 214 crore with 231% year-over-year (y-o-y) growth. Its PAT in FY 2023 was Rs 365 crore with 71% y-o-y growth. MBL ended the June 2023 quarter on a high note with PAT of Rs 93.50 crore. Chief Executive Officer of the company Nissan Joseph attributes this to financial prudence, which has been the DNA of the family-owned business that was started in 1955 by Abdul Malik Tejani who bought the store he was working at in Colaba, Mumbai. His so...

Founded in 2018, the fragrance brand has grown from a customer base of 200 initially to 50,000 today Bengaluru: There are very few fragrance brands focusing on the concept of perfumery as a whole, and Aeronot is one of them. The brand not only provides high-quality fragrances to customers but also incorporates emotions and memories into every bottle, thereby taking users on a poetic scent journey. Story of growth Aeronot was founded in 2018 by Akshay Raina during his college years with a mere capital of `10,000. The pilot launch was of just 200 perfume bottles in four variants, which were sold out in less than three days at various luxury pop events in Gurugram. The brand then exhibited at events in hotels such as Ambassador New Delhi, Courtyard Gurugram Downtown, The Palms Town & Country Club, and DoubleTree by Hilton Hotel Gurgaon. A few years down the road and despite the challenges posed by the Covid-19 pandemic, Aeronot has managed to stay on its feet on major e-commerce ...

Abhishek Bansal, executive director of Pacific Development Corp. Ltd, speaks to IndiaRetailing about the specialised nature of the shopping centres business, the importance of increasing trading densities in a mall and challenges mall developers face…. New Delhi: Abhishek Bansal, executive director of Pacific Development Corp. Ltd, is a well-known figure in India’s retail industry with seven of his Pacific-branded malls spreading across Delhi NCR and Dehradun. Pacific has various other malls in the pipeline including a 1.5 million sq. ft. mall in Jaipur, the largest mall in Rajasthan once it is competed in the years to come. Bansal speaks to IndiaRetailing about the challenges of building newer malls amid rising real estate and construction costs. He talks about the importance of increasing trading densities in a shopping centres and making malls more experiential to attract more footfall and giving compelling reasons for visitors to spend more time in them. Edited excerpts: How do...

The Indian footwear market is currently worth over $23 billion and growing at a CAGR of 6.77% (2022-2027). Chappers is one of the fastest-growing players in this category, registering a 30% Y-O-Y revenue growth Chappers is a custom footwear brand, founded by Harshwardhan Patwardhan. The brand initially started out as a men’s footwear brand and gained love and support from celebrities like Sachin Tendulkar, M S Dhoni, Nitin Gadkari, Raj Thackeray, and many more. Starting off with men’s footwear the brand is now moving to women’s footwear and to the Kiosk model. With four retail outlets in Pune, the brand is eyeing aggressive growth in 2022. Through online mode, the brand has reached close to twenty-seven countries already. “Customized footwear is a niche category we are trying to establish, and as of now, there is no standard market size or data available. However, considering the demand that Chappers is receiving, there is no doubt that the market will grow exponentially in the ye...

The retail arm of Reliance Industries Ltd (RIL) posted a net profit of Rs 2,305 crore in the July-September quarter of FY23, and its revenue from operations was Rs 57,694 crore New Delhi: The gross revenue of Reliance Retail in the July-September period grew 18.83% to Rs 77,148 crore, said the regulatory filing by Reliance Industries Ltd. The retail arm of Reliance Industries Ltd (RIL) posted a net profit of Rs 2,305 crore in the July-September quarter of financial year (FY) 2023-2024, and its revenue from operations was Rs 57,694 crore. This was led by a “well-rounded growth across consumption baskets”, according to the earning statement from RIL. “Business posted an EBITDA (Earnings before interest, taxes, depreciation) of Rs 5,820 crore, up 32.2% on a year-on-year basis. EBITDA before investment income was recorded at Rs 5,607 crore,” it said. In July-September, Reliance Retail added 471 new stores in its sales network, taking the total count to 18,650 stores with an area of 7...

With the support of the Aditya Birla Group venture, The Indian Garage Co. aims to reach Rs1500 crore in the next 5 years Bengaluru:  TMRW House of Brands, an Aditya Birla Group venture, has expanded its portfolio of brands with a partnership with the fashion brand The Indian Garage Co. (TIGC) by investing Rs,155 crore, the company said in a press release on Thursday. “We are excited to announce our partnership with TIGC which expands our portfolio in the casual wear space. With the deep category and brand building experience as well as tech-led scaling path which TMRW brings, we are confident in establishing TIGC as the leading casual wear brand across men and women,” said Prashanth Aluru, co-founder of TMRW. With the partnership, TIGC aims to exploit multiple growth avenues across channels (including direct-to-consumer and offline/omni-channel) and deeper expansion into sub-brands and categories, the release said. It also aims to reach Rs 1,500 crore in the next 5 yea...

Meanwhile, the BSE Sensex jumped 538.10 points or 0.85 per cent higher to 63,686.25 points, while Nifty climbed 163.35 points to 19,020.60 New Delhi: Shares of Westlife Foodworld Ltd plunged more than 6 per cent on Friday a day after the company reported a 29.05 per cent decline in its consolidated net profit to Rs 22.37 crore for the second quarter. Westlife Foodworld’s subsidiary Hardcastle Restaurants is the master franchisee of McDonald’s restaurants in West and South India. The stock of the company tumbled 6.22 per cent to Rs 827.95 apiece on the NSE. On the BSE, shares of Westlife Foodworld declined 5.93 per cent to Rs 827.25 per piece. Meanwhile, the BSE Sensex jumped 538.10 points or 0.85 per cent higher to 63,686.25 points, while Nifty climbed 163.35 points to 19,020.60. Westlife Foodworld Ltd on Thursday reported a 29.05 per cent decline in consolidated net profit to Rs 22.37 crore for the second quarter ended September 2023 due to challenging market conditions. The ...

Spread across about 13 acres and encompassing over about 1.2 million sq. ft. of gross leasable area, it is the first destination mall in the city Bengaluru:  Real estate company Phoenix Mills Ltd is opening its doors to Phoenix Mall of Asia, the second shopping centre for the company in Bengaluru. The destination mall is located at Hebbal, North Bengaluru is spread across about 13 acres and encompassing over 12,40,000 (about 1.2 million) sq. ft. of gross retail leasable area. The mall is scheduled to open its doors to the public at noon time on Friday. “In 2011, we entered the Bengaluru market with the launch of Phoenix MarketCity in Whitefield, which swiftly established itself as one of the best performing retail assets in our portfolio. Today, I am pleased to announce the launch of our second retail destination in Bengaluru, Phoenix Mall of Asia at Hebbal,” said Atul Ruia, chairman of The Phoenix Mills said in a press release. The mall has been developed by The Phoenix Mills...

In the latest episode of IR Studio on Indiaretailing.com, Priyanka Gupta, Director of Brands, GKB Opticals speaks to Sandeep Kumar, Assistant. Editor, Images Retail about the new aspects of eyewear retail, experiential retail, marketing and growth strategies of the brand, with an expansion plan to reach out to more tier 2 cities. The post The Spotlight is on Tier 2 Cities and E-commerce Driven Marketplace: Priyanka Gupta, GKB Opticals appeared first on India Retailing . from India Retailing https://ift.tt/30j8DCS via IFTTT

Located at L.T. Road in Borivali, the store spans over 10,000 sq. ft. and was inaugurated by Bollywood actor Anil Kapoor Mumbai : Jewellery retailer Malabar Gold & Diamonds launched its seventh store in Mumbai on 21 October 2023, the company announced in a press release on Wednesday. Located at L.T. Road, near Veer Savarkar Garden in Borivali, the store spans over 10,000 sq. ft., across three floors. The store was inaugurated by Bollywood actor Anil Kapoor, who is also the brand ambassador of Malabar Gold & Diamonds. “The Borivali store will further strengthen our association with the Maximum City. With an impressive range of collections, fair prices, a luxurious interior, great ambience, and exceptional customer service, the store will captivate the hearts of jewellery enthusiasts in the town,” M.P. Ahammed, chairman, Malabar Group said. Commenting on the launch of the store, Anil Kapoor said, “I have a long association with Malabar Gold & Diamonds. Their intricate cra...

The company had posted a standalone PAT of Rs 11 crore in the July-September period of FY23, MLL said in a statement Mumbai: Mahindra Logistics Ltd on Monday reported 73 per cent growth year-on-year in standalone Profit After Tax (PAT) at Rs 19-crore in the September quarter of this fiscal. The company had posted a standalone PAT of Rs 11 crore in the July-September period of FY23, MLL said in a statement. Revenue during the quarter under review declined 5 per cent at Rs 1,136-crore from Rs 1,195 crore in the period a year ago, it said. The company said that continuing growth and consolidation across the supply chain businesses, with growth in some markets is offsetting headwinds and added that continued focus on margin improvement resulted in earnings growth across businesses other than the MLL Express business. The overall logistics industry is well poised, driven by long term focus on infrastructure, manufacturing, consumption growth and positive regulatory trajectory, said R...

The men’s clothing brand, which was founded in 2017, boasts a multi-brand outlet presence that spans across more than 30,000 touchpoints Bengaluru: Menswear brand XYXX innovates a lot keeping in mind the needs of the young Indian man today. What sets the brand apart is its range of products that are not only suited to the Indian climate but are also designed for the Indian body type using an elevated aesthetic approach to innerwear, loungewear and now athleisure. Getting the trend on-point The inception of Yogesh Kabra’s menswear brand ‘XYXX’ is a tale as typical as they come. “After returning from the US, I went to the mall to buy some innerwear and the one thing that struck me was the lack of innovation and experimentation in the segment. I had been seeing the same colours, fabrics and shapes on the shelves for decades. Innerwear is a product that is used daily, and yet the needle has barely moved,” shares Kabra. XYXX was born out of the vision of making innerwear shopping a fun ...

Mandar Gaonkar of Texperts, an international textile sourcing, marketing and garment buying house speaks about, technology, e-commerce enabling e-commerce and his retail journey Mumbai : Mandar Gaonkar, assistant general manager, at an international textile sourcing, marketing and garment buying house, Texperts, started his journey more than a decade ago in the retail industry after completing his MBA. A mechanical engineer, Gaonkar’s stint in retail began with an online grocery start-up in Mumbai in 2012. Later, the startup was acquired by another online start-up and eventually merged with Nature’s Basket to create a digital retail experience for gourmet food delivery. Briefly, he worked with a leading Bullion company to help transform the centuries-old traditional bullion retail offline experience into a digital experience by enabling customers to buy and sell bullion online for ownership and investment. Gaonkar is now a part of the textile industry, yet again helping create a digi...

In an interview with PTI, Rastogi said the company is eyeing deeper penetration in India and Southeast Asia, growth in the Middle East, and a full-scale entry into the North American market New Delhi: Last mile logistics company Locus was born in a studio apartment after founder and CEO Nishith Rastogi realized that RideSafe, an application using a real-time route Deviation Detection engine he created to provide women with a safe commuting experience, had applications in other contexts. Locus, today, is a platform that provides proprietary routing, packing and scheduling algorithms, helping e-commerce and delivery companies reduce logistical costs. While AWS cloud gives unmatched flexibility and scalability, Locus optimises routes and provides real-time tracking that not just maximizes daily deliveries but minimizes travel distances, leading to reduced carbon footprints. Its clientele includes industry giants such as Unilever, Nestle, Tata Group and BlueDart. Excerpts from the int...