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Rajneesh Sharma brings over 24 years of diverse experience in FMCG, fashion, retail, and manufacturing. Rajesh is dedicated to leveraging technology for operational efficiency, customer experience enhancement, and sustainable growth. Rajneesh has a proven track record of leading cross-functional teams to implement innovative IT solutions aligned with business goals. His expertise covers everything from infrastructure to digital strategy. He’s passionate about using technology to solve challenges and create opportunities. Rajneesh’s leadership style emphasises collaboration, mentorship, and a drive for excellence, fostering a culture of continuous improvement and empowerment within his teams. The post Digital Icon : Rajneesh Sharma appeared first on India Retailing . from India Retailing https://ift.tt/jco3mdY via IFTTT

The company is aiming to double revenues and pre-tax profit in 3-4 years with its new energy business becoming profitable by 2031 Mumbai: Billionaire Mukesh Ambani on Thursday unveiled the next phase of growth at Reliance Industries Ltd, with retail and telecom worth over $100 billion each, doubling revenues and pre-tax profit in 3-4 years, new energy business becoming profitable by 2031, and core oil and chemical business continuing to be the robust growth engine. The sprawling conglomerate with interests in refining, oil and gas, petrochemicals, telecoms, retail, and media is on track to more than double in size before the end of the decade, Ambani, chairman and managing director of Reliance, told company shareholders. While the growing cash cow, the oil and chemicals business, Reliance will step up AI adoption and will launch ‘Jio Brain’ – a suite of AI tools and platforms – and set up gigawatt scale IA-ready data centres in Jamnagar in Gujarat “to create the world’s lowest AI i...

The buying and selling of products and services through social media, popularly known as social commerce, has the potential to empower over 40 million small businesses across India In smaller towns and urban areas, Bottom of the Pyramid (BOP) turns into small-time retailers operating small retail outlets offering a range of merchandise. Typically using push carts, these small-time BOP sellers pay minimal to no real estate expenses. In India, unorganized retailing refers to conventional low-cost retail forms that frequently run tax-free. These small retailers are constantly innovating to gain exposure, although some remain resistant to change. The social scenario According to a report by Bain and Co. Sequoia India published in Fortune India, a staggering 85% of commercial transactions with small retailers are influenced by social media. This finding not only underscores the significant opportunity for small retailers to connect with their customers and attract new customers through s...

Shreekant Chetlur is a seasoned customer experience (CX)/supply chain/digital professional with 15 years of extensive experience in digital, e-commerce, and omnichannel operations across diverse industries including retail, logistics, real estate and FMCG. Sreekanth has held leadership positions in both start-ups and multi-billion-dollar enterprises in the Middle East and South-East Asia including India, where he has been instrumental in delivering exceptional customer experiences and innovative solutions to address real-world challenges. His specialities encompass e-commerce, omnichannel, product strategy, product management, digital marketing, communication, content production, process improvement, problem-solving, design thinking, building agile teams, and entrepreneurship. Shreekant is a passionate motorcycle enthusiast and a world record holder for reaching the highest mountain pass in the world. He also enjoys travelling and is an avid follower and participant in sports such as...

Luxury pre-owned market in India is worth $618 million in 2023 and expected to grow at the rate of 10% to $1556 million by 2032, according to Almona Bhatia, chief business development officer, Tata CLiQ and Tata CLiQ Luxury Mumbai : India’s luxury pre-owned market is set to grow at a rapid pace, said Almona Bhatia, chief business development officer, Tata CLiQ and Tata CLiQ Luxury, which had earlier this year launched this category across key brands of watches and handbags. Luxury pre-owned market in India is worth $618 million in 2023 and expected to grow at the rate of 10% to $1556 million by 2032, said Bhatia speaking at the inaugural session of Day 2 of India D2C Summit held here. In its pre-owned category in the luxury segment, Tata CLiQ has launched Rolex, Omega, Breitling, in the watches category and Gucci, Louis Vuitton and Fendi in the handbags category. “Key categories include art, antique furniture, sneaker, fashion, jewelry and accessories like bags and watches,” she s...

The company has allotted 64.29 lakh equity shares to 28 funds at Rs 389 apiece, aggregating the transaction size to Rs 250.1 crore New Delhi: Value fashion retailer Baazar Style Retail Ltd. on Thursday said it has collected Rs 250 crore from anchor investors, a day before its initial share-sale opening for public subscription. Ashoka India Equity Investment Trust Plc, Volrado Venture Partners Fund IV Gamma, HSBC Global Investment Funds, Allianz Global Investors Fund, Al Mehwar Commercial Investments LLC, HDFC Mutual Fund (MF), HSBC MF, Bandhan MF and Bajaj Allianz Life Insurance Company are among the anchor investors, according to a circular uploaded on the BSE website. The company has allotted 64.29 lakh equity shares to 28 funds at Rs 389 apiece, aggregating the transaction size to Rs 250.1 crore, the data showed. The Rs 835-crore initial public offering (IPO) will open for subscription on August 30 and conclude on September 3. The price band has been fixed at Rs 370-389 per sha...

The funding round was led by General Catalyst with participation from new investors Dragon Fund and Epiq Capital New Delhi: Quick commerce unicorn Zepto has raised $340 million (over Rs 2,850 crore) in a follow-on financing round led by General Catalyst, putting the Mumbai-based firm’s valuation at $5 billion. The fundraising comes after the three-year-old startup raised $665 million (about Rs 5,560 crore) in June 2024. The funding round valued the firm at $3.6 billion, almost triple its worth a year back. Zepto co-founder Aadit Palicha said the rationale behind this follow-on financing was two-fold. “First, the opportunity to bring on board a lead investor of Neeraj Arora’s calibre from General Catalyst was one we couldn’t pass on. Second, strengthening our balance sheet is a strategic move, particularly as the company continues to deliver robust growth and operating leverage,” he said. The funding round also saw participation from new investors Dragon Fund and Epiq Capital. E...

Brands wanting to build communities and loyal followers should ensure their content is authentic, consistent and fresh, say brand owners and influencers at the India D2C Summit 2024 Mumbai: We live in a content era. And content plays a critical role in building a brand, especially if it is in the D2C space. There has been an explosion of niche D2C brands in recent years. Some brands solve specific problems for consumers ranging from gut issues to problems managing a specific hair type. The key to the success of such brands is building strong communities through relatable content, said brand owners and influencers speaking at the India D2C Summit in Mumbai. The 3 Golden Rules of building relatable content are: Authenticity: Consumers love brand stories and they work well especially if it is promoter-generated content. “People don’t like faceless brands. That is why founder-generated content works well. However, the stories have to be authentic,” said Nikita Khanna, Founder...

Das said strengthening financial infrastructure, including cross-border payment systems, will be key focus areas as India New Delhi: Reserve Bank Governor Shaktikanta Das on Wednesday said the central bank is focused on making the UPI and RuPay ‘truly global’ and asked financial institutions and fintech startups to adapt robust frameworks to capitalise on the new opportunities while mitigating connected risks. Speaking at the Global Fintech Fest 2024, the governor said digital financial inclusion, digital public infrastructure (DPI), consumer protection and cyber security, sustainable finance, and global integration and cooperation are the five priority areas for the Reserve Bank. Das said strengthening financial infrastructure, including cross-border payment systems, will be key focus areas as India, with its tech talent and evolved fintech ecosystem, holds the potential to serve as a global hub for digital innovation and fintech startups. Building and strengthening strategic par...

The stake has been picked up through the purchase of shares from the company’s employees and early investors, according to media reports New Delhi:  Bollywood actor Amitabh Bachchan’s family office is believed to have picked up a minor stake in IPO-bound food-delivery and quick-commerce platform Swiggy. The stake has been picked up through the purchase of shares from the company’s employees and early investors, according to media reports. When contacted, Swiggy declined to comment. Meanwhile, Bachchan could not be reached for comment. In April this year, Swiggy received shareholders’ approval for an initial public offering to raise Rs 10,414 crore fund through the issue of fresh equity shares and an offer for sale. The post Amitabh Bachchan’s family office buys stake in Swiggy: Reports appeared first on India Retailing . from India Retailing https://ift.tt/bUhLER1 via IFTTT

Industry experts at India D2C Summit 2024, attributed the entire euphoria about AI tools to the increased internet penetration and tech start-ups Mumbai: Artificial Intelligence (AI) is redefining the consumption space by reducing time and cost for retailers and customers through their search engine tools of conversation and engagement aided by rising active internet users, according to a cross-section of industry experts at the India D2C Summit 2024. Indian jewellery chain Tanishq reduced CAC (customer acquisition cost) by 38% with Google’s AI powered omni-channel solutions, said Bhaskar Ramesh, director – Omnichannel Businesses, Google India delivering his keynote address on Day 1 of the two-day summit here in Mumbai. Similarly, Tira Beauty , an omnichannel beauty retail platform, owned by Reliance Retail, revolutionised product discoverability by leveraging Google’s GenAI capabilities that led to 50% increase in organic click, conversational value improvement by 27% and increase...

Representatives of leading D2C brands like Zivame, Abcoffee and The Sleep Co., discussed retail success strategies in India on day 1 of India D2C Summit 2024 in Mumbai Mumbai: Unit economics, a focussed approach and a channel-specific strategy are the mantras for success in retail, according to some of the leading entrepreneurs who were speaking at the India D2C Summit in Mumbai on Wednesday. Focussing on doing one thing and doing it well rather than spreading yourself thin is extremely important when growing a retail business, said Abhijeet Anand, Founder and Cof EO, AbCoffee. “Not being impatient, being focussed is the answer. Out of the 65 outlets, 45 were built in the last six months due to this,” he said. The other important thing is to get your value proposition right. “That’s the recipe to build something bigger,” he added. Sahil Dharia, Founder & CEO, of Soothe Healthcare, agrees. The focus should also extend to the geographies a brand wants to focus on. D2C Business...

In terms of fundraising, brands raised or proposed plans to raise amounts over Rs 4,930 crore IndiaRetailing Insights: More than 60 new stores were rolled out throughout India in July, according to the latest survey by IndiaRetailing Insights, a retail intelligence unit. The western part of India saw the addition of over 23 new stores, followed by the North with 16 stores, the South – with 13 and the East in the range of 1-5 new stores, The IndiaRetailing monthly store tracker has found. The research is based on the data compiled by IndiaRetailing reports, company information via press releases and social media and other information shared by retail experts and officials. Brands that opened stores Brands like Bikanervala, Haldiram’s, Twenty1 Food Court, Go Pizza, Samosa Singh, Mad Over Donuts, Roastea, AbCoffee, Asia Kitchen by Mainland China, Manyavar, Mohey, Bonkers Corner, H&M, United Colors of Benetton, Yousta, Snitch, Being Human, Lacoste, Kingdom of White, Flyrob...

The LocalCirles Report further mentions that 66% of consumers chose to repair their TVs locally instead of at company outlets New Delhi: A recent survey conducted by LocalCircles, which gathered over 36,000 responses from consumers across 329 districts in India, revealed that 32% of respondents (one in three) experienced problems with their last television within five years of purchase. This marks a significant shift from previous decades when televisions typically lasted much longer without requiring repairs. Smart TV sales are on the rise, and so are complaints. As the Indian Smart TV market continues to grow—valued at $11.53 billion in 2023 and expected to reach nearly $33.72 billion by 2030—the number of households upgrading to these devices has significantly increased. The survey found that 35% of respondents who bought a television in the last five years did so through e-commerce platforms, reflecting the shift towards online shopping for electronics. Despite this growth, th...

FSSAI said the advisory has been withdrawn to carry out further consultations with stakeholders. It would imply that food business operators can continue to sell and market their products with claims of ‘A1′ and “A2’ types of milk New Delhi: Food safety regulator FSSAI on Monday withdrew its recent advisory wherein food businesses were directed to remove claims of ‘A1’ and ‘A2’ types of milk and milk products from packaging. The Food Safety and Standards Authority of India (FSSAI) said the advisory has been withdrawn to carry out further consultations with stakeholders. It would imply that food business operators (FBOs) can continue to sell and market their products with claims of ‘A1′ and “A2’ types of milk. A1 and A2 milk differ in their beta-casein protein composition, which varies based on cow breed. In a fresh advisory issued on Monday, the regulator said, “the advisory dated August 21, 2024…stands withdrawn for further consultation and engagement with the stakeholders”. The...

The retailer will have over 80 stores by the end of the current fiscal year and aims to reach around 100 stores within the next 12 months Bengaluru: American denim and casual apparel brand Lee is gearing up to double its store count in India, aiming for 80 locations by the end of the current financial year (FY25), a top company official told IndiaRetailing. “Our main focus at the moment is expanding our retail presence,” said Nitin Chhabra, chief executive officer of Ace Turtle, which operates the brand’s stores in India.  “While our online channels already reach 19,000 postcodes, we are also committed to growing our physical footprint with dedicated mono-brand stores, allowing consumers to experience Lee products firsthand. A year from now, we will have approximately 100 stores nationwide,” he added. Lee, a legacy brand with 135 years of history, is owned by US-based Kontoor Brands, a spin-off of VF Corporation’s denimwear division. In 2021, the company changed Lee from a ful...

Goodveda currently has a user base of over 20,000 and its monthly revenue increased to Rs 87.8 lakh in July this year New Delhi: Goodveda, a D2C startup offering a range of supplements, ayurvedic remedies, snacks, and wellness programmes – expects a significant expansion in revenue and customer base, helped by the demand for healthy and convenient snack options. Founded in September 2023, Goodveda recently secured a pre-seed funding of Rs 2 crore. Moreover, to fund its expansion plans, Goodveda has plans to raise $1 million this year, he added. It currently has a revenue of Rs 1.9 crore and expects to have a turnover of Rs 12 crore in the current fiscal, Goodveda Founder and entrepreneur Abhishek Gaggneja said. Goodveda currently has a user base of over 20,000 and its monthly revenue has increased to Rs 87.8 lakh in July this year. In the June quarter, it had a business of Rs 1.74 crore. The company aims to become a known nutritional food brand in India, expanding its offerings ...

The All India Consumer Products Distributors Federation (AICPDF) also suspected potential violations of FDI regulations by these quick-commerce companies New Delhi:  FMCG distributors have raised concerns over the “rapid and unregulated growth” of quick commerce platforms, saying it needs immediate scrutiny. In a letter written to Commerce & Industry Minister Piyush Goyal, FMCG distributors’ body AICPDF said this unchecked expansion of quick commerce platforms, which typically deliver goods within 10 to 30 minutes, is creating an “uneven playing field”, threatening the livelihoods of millions of small retailers and distributors who have been the backbone of India’s retail sector for decades. The All India Consumer Products Distributors Federation (AICPDF) also suspected potential violations of FDI regulations by these quick-commerce companies. It sought an immediate investigation into the operational models of these platforms. The rapid growth of quick commerce platforms li...

Currently owned by Grill Splendour Services, the bakery brand operates over 26 stores across Mumbai, with plans to open four more stores in the next 30 days Bengaluru: Mumbai’s legacy chain of bakery and confectionary stores, Birdy’s Bakery and Patisserie is set to embark on a rapid retail expansion journey, with plans to open around 100 stores by the end of the current fiscal year (FY25), a top company official told IndiaRetailing. Founded in 1992, Birdy’s is one of Mumbai’s oldest bakery brands. Originally established as ‘Birdy’s by Taj’ and owned by the Taj Group of Hotels, it was later sold to Wah Restaurants Pvt. Ltd. Since 2019, Birdy’s has been under the ownership of Grill Splendour Services Pvt. Ltd., a chain of gourmet bakeries and patisseries in Mumbai, led by the husband-and-wife duo Srinidhi and Vandana Rao. The company employs over 142 individuals across its stores and kitchen. The interesting name “Birdly’s” is said to have been inspired by the nickname of the first ...

According to the report, India has a dominant position in the Asia Pacific region in modern trade sales, where the premium-plus pricing segment accounts for nearly 40% of FMCG sales and 30% of tech durables sales New Delhi: India is the only country in the Asia-Pacific region, where sales of FMCG and tech durable sectors from modern trade channels are consistently delivering double-digit growth, helped by premiumisation and festive period sales, data analytics firm NielsenIQ said in a report. India has a dominant position in the Asia Pacific region in modern trade sales, where the premium-plus pricing segment accounts for nearly 40% of FMCG sales and 30% of tech durables sales, according to the findings of the report. “India emerges as the only market consistently delivering double-digit growth in both the FMCG and tech and durables sectors, underscoring the resilience and evolving preferences of Indian consumers,” said NielsenIQ report titled ‘Full View of Modern Trade Retail Tre...

The company is targeting entering neighbouring countries like Bangladesh and Sri Lanka, and parts of Southeast Asia including Indonesia and the Philippines, among others Bengaluru:  Homegrown luxury perfumery brand Mocemsa is aiming for international foray by the end of fiscal year (FY) 2025, a top company official told IndiaRetailing. The direct-to-consumer (D2C) brand is currently in discussions with multiple global distributors. The brand is evaluating countries such as Egypt, and Jordan, along with neighbouring countries like Bangladesh and Sri Lanka, and parts of Southeast Asia including Indonesia and the Philippines. “We aim to expand to countries with similar per capita incomes to India” said Subhadro Das, chief executive officer at Mocemsa. “Additionally, we are also considering Central Europe, Kazakhstan, and the smaller Union of Soviet Socialist Republics (USSR) countries where the purchasing power is comparable,” he added. Mocemsa was launched in 2017 by the Malhotr...

The total leasing between January and June this year stood at 3.4 million sq. ft., while it was 2 million sq. ft. in the corresponding period last year Bengaluru: The IT hub recorded an increase in industrial and logistics leasing by 68 per cent, between January and June this year, stated a report released on Friday by a real estate consulting firm. According to ‘CBRE Industrial & Logistics Figures H1 2024’, total leasing between January and June this year stood at 3.4 million sq. ft., while it was 2 million sq. ft. in the corresponding period last year. The supply stood at 3.2 million sq. ft. from January to June this year. The report also stated that during the first six months of the year, among the industry segments in Bengaluru, 3PL (third-party logistics) drove leasing with a share of about 54 per cent, followed by ecommerce (13 per cent) and retail (10 per cent). The key leasing transactions recorded in the city were made by VRL Logistics (leasing of 3 lakh square feet ...

When customers know they can rely on a brand to deliver a consistent and satisfying experience everywhere, they are more likely to return, recommend the brand to others, and develop a deeper, long-term connection with it In an age where the lines between online and offline shopping experiences are increasingly blurred, the concept of ‘phygital’ is taking centre stage in the retail world. This hybrid approach enhances convenience and autonomy and crafts a more engaging and personalised journey for the consumer. Recent studies underscore the significance of this shift. For instance, according to Mailmodo, 40% of consumers make an in-store purchase at least once a week, compared to 27% who shop online with the same frequency. Furthermore, research from Think with Google reveals that nearly 80% of shoppers will visit a store when they need or want an item immediately. Interestingly, IBM research shows that nearly three-quarters of retail customers still prefer to shop at a physical loca...

The company is also aiming to expand 1,000 stores in future entering new markets such as Bengaluru, Hyderabad, and Chennai Mumbai: Agri-tech company Kisanserv on Thursday said it has set a revenue target of Rs 500 crore within the next four years with an expansion plan of 250 stores in key cities. The company had reported Rs 35 crore revenue in FY24, Kisanserv said in a statement. This expansion aims to generate 2,000 direct and up to 5,000 indirect jobs, with a strong focus on hiring locally, especially women, it said. Subsequently, the company is aiming to expand 1,000 stores in future entering new markets such as Bengaluru , Hyderabad, and Chennai, it added. “By eliminating middlemen, we’ve been able to offer fresher produce at significantly lower prices while ensuring that farmers receive more than double their traditional earnings. This approach not only empowers farmers but also delivers exceptional value to our customers,” Kisanserv CEO Niranjan Sharma said. Currently, 7...

Zomato will spin off the new business into a new app called ‘District’ New Delhi: Online food delivery platform Zomato will acquire Paytm’s entertainment ticketing business for Rs 2,048 crore to strengthen its “going-out” segment in a deal that will help the troubled fintech firm to sharpen its focus on core payments and financial services distribution. Paytm’s entertainment ticketing business covers movies, sports, and events (live performances). The boards of Zomato and One 97 Communications Ltd (OCL) have approved the all-cash deal. As part of this agreement, OCL’s entertainment ticketing business will transfer business to its 100 per cent subsidiaries Orbgen Technologies Pvt Ltd (OTPL) and Wasteland Entertainment Pvt Ltd (WEPL), followed by the sale of 100 per cent stake in these subsidiaries (which operate the TicketNew and Insider platforms) to Zomato. Subsequently, Zomato will spin off the new business into a new app called ‘District’. Under the deal, Zomato will fully ac...

Karan Dhillon, Principal, Dhillon Group speaks about launching the country’s first drive-thru Starbucks, Uniqlo’s first highway store and more… Zirakpur, the satellite town of Mohali, Chandigarh in Punjab, is home to the country’s first drive-thru store by international coffee chain Starbucks, which opened in 2020. It is also home to Japanese fashion retailer Uniqlo’s first highway store, which opened in April 2023. The tier 2 town also houses massive flagship stores of leading global brands in addition to North India’s first integrated multiplex and shopping mall ‘Fun Republic’, launched back in 2003. The credit for bringing these iconic brands to Zirakpur goes to the Dhillon Group, a leading business house since the 1980s. The group was the first to bring Pepsi cola to India in 1989 and its Chairman Kewal Dhillon has been felicitated with the ‘Donald M Kendall Bottler of the Year’ award by former President of the United States of America George Bush and former UK Prime Minister Mar...