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The pricing adjustments are designed to partly cover spiraling long-term costs, such as rising input costs to operations, including airline operating costs and infrastructure costs Mumbai: Courier services provider Blue Dart Express on Monday said it will increase the prices of its shipments between 9-12 per cent from 1 January 2025. The pricing adjustments for 2025, which include inflationary adjustments and cost rationalisation, are designed to partly cover spiraling long-term costs, such as rising input costs to operations, including airline operating costs and infrastructure costs, among others, the company said. Blue Dart will implement the General Price Increase (GPI) from January 1. The average price increase will be in the range of 9 to 12 per cent, depending on product variabilities and the shipping profile, Blue Dart said in a statement. This essential decision ensures the continued provision of quality service, while fostering sustainable ecosystem collaboration, it s...

The retailer intends to deepen its presence in Uttar Pradesh and Bihar, while also exploring opportunities in over 15 new regions Bengaluru:  North India-based value fashion retailer Citykart aims to have 300 stores over the next three years, aiming to add approximately 30 stores every year, a top company official told IndiaRetailing. Launched in 2015, in Lucknow, Uttar Pradesh the company offers affordable fashion for men, women, and kids, along with footwear and accessories. It also offers home furnishings, general merchandise, toys, and most recently, cosmetics and personal care products. The retailer reached a milestone of 100 stores in 2023 and now operates 107 retail outlets in 73 cities across nine states, including Uttar Pradesh, Bihar, Odisha, Assam, Madhya Pradesh, Chhattisgarh, West Bengal, Jharkhand, and Tripura covering 8.95 lakh sq. ft. of retail space. The retailer intends to deepen its presence in its current strongholds, primarily Uttar Pradesh and Bihar, whil...

The company’s app downloads reached around 1.5 crore ahead of the sale and the number of purchase orders has doubled on the first day of the sale on Friday as compared to that of the previous season New Delhi: SoftBank-backed e-commerce platform Meesho on Saturday said it recorded about 6.5 crore unique visitors on its portal on Day 1 of the annual festive season ‘Meesho Mega Blockbuster Sale’. Meesho Founder and CEO Vidit Aatrey said the company’s app downloads reached around 1.5 crore ahead of the sale and the number of purchase orders has doubled on the first day of the sale on Friday as compared to that of the previous season. “By just 2 PM yesterday, we had already surpassed our previous best of highest orders placed on Day 1 previous year, and by the end of the day, that number had more than doubled. Around 6.5 crore unique customers visited the mobile app on Day 1,” Aatrey said on a social media platform. According to a report by research firm Statista, the number of online...

The low sales expectations are attributed to a shift in consumer spending towards other lifestyle avenues, along with a slowing economy and rising inflation Bengaluru: The festive season of 2024 is expected to show weak sentiment for clothing demand, according to a survey conducted by the Clothing Manufacturers Association of India (CMAI). According to the survey, 63% of respondents anticipate either the same or lower sales of clothing and apparel compared to last year. Of these, nearly 25% expect sales to drop as low as 75% of the previous year’s figures. Whilst the reasons for such low expectancy varied, the biggest factor impacting the low sentiments appeared to be the shift in larger wallet share of the consumer spending moving towards other avenues of lifestyle – with 35% of the respondents attributing their low expectations to this factor. 24% respondents attributed a slowing economy and inflation to be the top challenges at the moment. Amongst the apparel categories, mensw...

The network expansion of fashion retailers would support revenue increases in the current fiscal year despite inflationary headwinds New Delhi: Fashion retailers are likely to record revenue growth of up to 15 per cent in FY25 on the back of network expansion, according to a report by ratings agency Icra. The network expansion of fashion retailers would support revenue increases in the current fiscal year despite inflationary headwinds, said Icra, while giving a “stable outlook” on the fashion retail segment. “The operating profit margin (OPM) of its sample set of companies is likely to remain in the range of 13-14 per cent in FY2025. This is despite a robust 14-15 per cent YoY (Year-on-Year) revenue growth estimated for the year, supported by network expansion,” it said. Icra expects fashion retailers to report marginal sequential sales growth in Q2 FY2025, especially with the shift from the festive season to Q3 this year. “The revenue growth is likely to pick up during the fe...

French Crown, a luxury brand, is expanding from online success to physical stores across India, offering an exclusive shopping experience with in-store collections and personalized service French Crown, a leading luxury menswear brand, is making an offline foray, marking a milestone in its growth journey. Founded by Ilesh Ghevariya and Bhavdip Ghevariya in 2016, the brand, known for its sustainable approach to fashion, has announced the launch of its physical stores in key Indian cities. The Evolution of the French Crown French Crown began its journey with its online platform, where it rapidly gained popularity for its premium yet accessible men’s fashion. Over the years, the brand has expanded its presence to over 90 countries, consistently launching over 300 new designs every week. Its premium product range is known for a sharp blend of elegance, comfort, and trendsetting styles. A Step Toward Offline Retail While the convenience of online shopping has been a cornerstone of Fre...

The report highlights that the illicit market for textiles and apparel alone stands at Rs 4,03,915 crore, accounting for over 50% of the total illicit trade. New Delhi:  A new report launched by FICCI CASCADE, in collaboration with the Thought Arbitrage Research Institute (TARI), reveals that the illicit market in India is valued at a staggering Rs 7,97,726 crore across five key industries, including textiles and apparel, FMCG packaged goods, personal and household care, alcohol, and tobacco. The report, titled “Consuming The Illicit: How Changing Factors of Consumption Affect Illegal Markets in 5 Key Industries,” highlights that the illicit market for textiles and apparel alone stands at Rs 4,03,915 crore, accounting for over 50% of the total illicit trade. Additionally, illicit markets for FMCG packaged foods and personal care products are estimated at Rs 2,23,875 crore and Rs 73,813 crore, respectively. Industry Impact and Rising Illicit Trade The impact of illicit trade is ...

Akash Agarwal, whole-time director of V2 Retail speaks about his professional challenges and accomplishments in the retail industry Bengaluru:  Fashion and lifestyle retail chain V2 Retail’s story traces back to its roots as Vishal Megamart, which was founded in 2001 by Ram Chandra Agarwal. In 2011, the founder sold the venture for Rs 70 crore to TPG group while it had almost 180 stores. Utilising the proceeds from the sale, he embarked on a fresh venture in the same year, laying the groundwork for what would evolve into V2 Retail. Since its inception, V2 Retail has continued to expand its presence across India, offering a range of products across categories such as apparel, accessories, home furnishings and more. Starting with its first 10,000 sq. ft. store in Jamshedpur, V2 Retail has grown to operate 135 stores across 18 states, now managing over 1.4 million sq. ft. of retail space. Its widespread presence includes five stores in Delhi-NCR, 30 in Bihar, 27 in Uttar Pradesh, 20...

Studies have shown that effective scent marketing can increase retail store sales by up to 11%. Here are some strategies retail brands can benefit from… Today’s retail landscape is extremely cluttered; businesses are constantly seeking innovative ways to stand out and create memorable customer experiences. While visual branding and auditory elements have long been used for brand positioning, a powerful yet often overlooked tool is scent marketing. This strategy is rapidly gaining traction to enhance consumer engagement and solidify brand identity in the retail segment. The Science of Scent and Memory The connection between scent and memory is well-established in research. Our olfactory sense has a unique ability to evoke emotions and resurface memories associated with specific fragrances. This phenomenon is deeply rooted in our neurobiology, with the olfactory bulb directly connected to the limbic system, which processes emotions and memories. For instance, the petrichor from the fi...

Madras High Court lawyer K Narasimhan claimed that the matter had been brought to his attention by sellers on Flipkart New Delhi: E-commerce major Flipkart is offering discounts at product level for select sellers, a Madras High Court lawyer alleged in his complaint to the DPIIT on Thursday, saying the practice is creating a non-competitive environment. Madras High Court lawyer K Narasimhan claimed that the matter had been brought to his attention by sellers on Flipkart and he also attached a screenshot of the alleged communication from Flipkart and its other platform Shopsy as evidence. Flipkart did not respond to the query sent in this regard. “Flipkart has been running selective waivers at the product level, with clear communication to sellers regarding how these discounts will be funded. This communication explicitly states that a portion of the product discount will be subsidised through waivers, which directly influences the pricing of certain sellers, creating a skewed and...

The MoU is initially set for two years and it will allow job seekers registered on the portal to view and apply for opportunities at Amazon New Delhi: Amazon India has signed a pact with the Labour and Employment Ministry to post available work opportunities at Amazon and its staffing agencies on the National Career Service (NCS) portal. The MoU (memorandum of understanding) is initially set for two years. It will allow job seekers registered on the portal to view and apply for opportunities at Amazon. “ Amazon is the first e-commerce company to collaborate with the Ministry of Labour and Employment for the NCS portal. This partnership aims to connect aspiring individuals with career prospects that match their skills and qualifications,” Amazon said in a statement. The NCS portal currently has over 60 lakh active job seekers and 33.50 lakh active employers. By bridging the gap between supply and demand, NCS has the potential to connect job providers and job seekers across levels...

The proposed IPO comprises an offer-for-sale (OFS) of 18.52 crore equity shares by existing shareholders New Delhi: Food and grocery delivery major Swiggy on Thursday filed its updated draft papers with capital markets regulator Sebi to raise funds through its much anticipated initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares worth Rs 3,750 crore and an offer-for-sale (OFS) of 18.52 crore equity shares by existing shareholders, according to the updated draft red herring prospectus (UDRHP). Market sources have pegged the company’s IPO size at over Rs 10,000 crore. Those selling shares in the OFS route are — Accel India IV (Mauritius) Ltd, Apoletto Asia Ltd, Alpha Wave Ventures, LP, Coatue PE Asia XI LLC, DST EuroAsia V BV, Elevation Capital V Ltd, Inspired Elite Investments Ltd, MIH India Food Holdings BV, Norwest Venture Partners VII-A Mauritius and Tencent Cloud Europe BV. Also, the company is looking to mobilise up about in a pre-IPO rou...

In a recent conversation with Mannu Mathew, Assistant Editor at Images Group, Amit Arora, Chief Information Officer at SHR Lifestyle Pvt. Ltd., shared insights into the company’s growth strategies and digital initiatives. With 140 stores across India, the brand is focused on expanding its presence in South India, particularly aligning with regional festivals. Amit highlighted the role of AI and Business Intelligence in enhancing customer experiences and operational efficiency, including the introduction of a style-bot and advanced footfall analysis techniques to drive better decision-making. Customer-centricity remains at the core, ensuring 100% focus on delivering value. The post SHR Lifestyles plans to expand in South India, aligning growth strategies with key festivals: CIO Amit Arora appeared first on India Retailing . from India Retailing https://ift.tt/3OLyFw4 via IFTTT

MAI represents 11 cinema chains like PVR-INOX, operating around 75% of the multiplex industry in India New Delhi:  The Multiplex Association of India (MAI) on Wednesday defended “dynamic and flexible” cinema pricing, which fluctuates based on factors like location, day of the week, seat type, film format, and cinema format. Cinema exhibitors are now using sophisticated digital tools to stimulate audience demand and optimise pricing, said MAI while issuing a statement over the recent remarks by film maker Karan Johar. Brushing aside Johar’s remarks, who alleged high pricing strategies by cinema exhibitors, the MAI statement quoting its President Kamal Gianchandani said the average ticket price (ATP) across all cinemas in India was Rs 130 per ticket. “The country’s largest cinema chain, PVR INOX , reported an ATP of Rs 258 for the fiscal year 2023-24. Additionally, the Average Spend Per Head (SPH) on F&B at PVRINOX during this period stood at Rs 132,” it said adding “This bri...

Post-acquisition, the combined entity is expected to achieve a revenue of Rs 1,000 crore in FY25, up 33 per cent from Rs 761 crore in FY24, and be EBITDA profitable New Delhi: Homevista Decor & Furnishings Pvt Ltd on Wednesday announced the acquisition of home interiors player DesignCafe and raising Rs 225 crore fund from investors as part of its expansion plan. Homevista Decor and Furnishings is the parent company of interior brands HomeLane, Doowup, Cubico and Wrapzap. This acquisition, subject to regulatory approvals, will result in the creation of the largest entity in the interiors category in India, in terms of projects delivered, the company said in a statement. Post-acquisition, the combined entity is expected to achieve a revenue of Rs 1,000 crore in FY25, up 33 per cent from Rs 761 crore in FY24, and be EBITDA profitable. HomeLane, Doowup and DesignCafe will continue to operate as distinct end-to-end interior brands, each catering to different segments of the market...

The company’s long-term goal by FY 2035 is to grow Lee, Wrangler, Toys”R” Us and Dockers into Rs 500 crore each. New Delhi : Bengaluru-based tech and integrated manufacturing retail company Ace Turtle, which operates brands like Lee, Wrangler, Toys “R” Us, Babies “R” Us and Dockers in India, plans to double its revenue to Rs 1,000 crore by financial year (FY) 2027-2028, up from its projected Rs 500 crore sales for the current fiscal year, a company top executive told IndiaRetailing. “The company’s long-term vision aims to grow each of our brands to Rs 500 crore by FY 2035. To support these ambitious goals, Ace Turtle plans to commence its Series C fundraising round in early 2025,”  said Nitin Chhabra, chief executive officer (CEO), of Ace Turtle. In FY23, AceTurtle saw its revenue surge over 100% compared to the previous year. Chhabra revealed that Lee and Wrangler have achieved profitability in FY24, demonstrating the effectiveness of Ace Turtle’s tech-driven approach whic...

The company’s annual revenue stood at $1.09 billion as of March 31, 2023, and has more than 4,700 employees, according to Tracxn, a global startup data platform New Delhi: Food and grocery delivery major Swiggy has received capital markets regulator Sebi’s clearance to launch its much anticipated Initial Public Offering (IPO), sources said on Wednesday. Swiggy filed its offer document on April 30 through the confidential pre-filing route, keeping details undisclosed for the time being. Under the confidential filing process, Swiggy will submit two updated draft prospectuses after Sebi’s approval — one addressing the regulator’s feedback and the other for public comments over 21 days. Only then will the final prospectus be filed, and the company can launch roadshows for the IPO, sources said. Swiggy, founded in 2014, had a valuation of nearly $13 billion in April. The company’s annual revenue stood at $1.09 billion as on March 31, 2023 and has more than 4,700 employees, according ...

The two new upcoming stores will be located in Delhi and Mumbai New Delhi : Japanese fashion retail brand Uniqlo completes five years in India, a release by the company said on Wednesday. The company opened its first store in October 2019. Celebrating this milestone, the brand today announced the opening of two new stores in November at Phoenix Palladium, Mumbai and at Pacific Mall Tagore Garden, New Delhi, the release added. IndiaRetailing had earlier reported that th e company plans to open six to eight stores including the two announced today in Mumbai and Pune in the next two years. Furthermore, the retailer is in talks with a host of prominent malls in those two cities. “Our five-year journey has been incredible and full of learnings” said, Kenji Inoue, chief financial officer & chief operating officer, of Uniqlo India. “We are pleased to see that Indian customers have shown a deep appreciation for our LifeWear – high-quality, functional clothing designed to improve every...

According to the report, 31 per cent of online shoppers now rely on instant delivery platforms and 39 per cent for their top-up purchases New Delhi: Quick commerce has emerged as a pivotal growth driver in grocery shopping as 31 per cent of online shoppers now rely on instant delivery platforms and 39 per cent for their top-up purchases, according to a report from NielsenIQ (NIQ). The report is based on a survey base of 4,500 consumers in major Indian cities like Delhi, Gurgaon, Noida, Mumbai, Bengaluru, Chennai, Hyderabad, Kolkata, Lucknow, Ludhiana, Jaipur, Ahmedabad, Indore, Coimbatore, Patna and Bhubaneswar. It examined the shopping habits of people aged 18-65 who buy groceries at hypermarkets, supermarkets, TT stores, and online stores. Among the popular categories, 42 per cent of shoppers use quick commerce for ready-to-eat meals and 45 per cent for salty snacks, according to the latest Shopper Trends Report by the data analytics firm. It also indicates the rise of multicha...

Kneetoes founders Shujat Khan and Shahyan Khan shed light on the brand’s journey and the prospects for the brands in the Indian footwear industry. New Delhi : In 2018, Shujat Khan and Shahyan Khan acquired Kneetoes, then a shoe brand that was in its nascent stage selling through the shop-in-shops mostly through Reliance Retail chains. Six years down the line, Shujat and Shahyan have not only turned over Kneetoes but are also aiming to create a major mark in the footwear market with a substantial expansion in tech resources, e-commerce platforms and more personalised experience for customers. The Bengaluru-based Kneetoes is at present rapidly emerging as a small yet significant player in the $28 billion annual Indian footwear market. Originally started as a small shop-in-shop operation of the brand in Bengaluru, the brand has expanded to approximately 85 outlets, including seven exclusive stores that are company-owned and company-operated. The company clocked Rs 3.5 crore in the last...

Shipments during the month under review improved from July, when it was $1.66 billion Mumbai: India’s gems and jewellery exports declined 18.79 per cent to $2.01 billion in August due to sluggish global demand, according to GJEPC data. The exports stood at $2.47 billion during August 2023, Gem Jewellery Export Promotion Council (GJEPC) said. However, it said the shipments during the month under review improved from July, when it was $1.66 billion. “We need to work hard to feed the demand in key export markets like the US and China. Meanwhile, mid-stream manufacturers are struggling with both demand as well as profitability,” the council’s chairman, Vipul Shah told PTI. The data also showed that exports of cut and polished diamonds dipped by about 26 per cent at $1 billion in August as against $1.36 billion in the same period of previous year. The total gross export of gold jewellery too contracted by 1.15 per cent to $687.69 million during the month. Commenting on the numbers,...

The upcoming mall will have a total built-up area of 3 lakh sq. ft., with 2.2 lakh sq. ft. dedicated to gross retail leasable space Bengaluru: Rohan Mall, a shopping centre developed by real estate developer Rohan Corporation will be opening in Mangaluru by the end of 2025, a company official told IndiaRetailing. The upcoming mall, located on 6.25 acres of land, will have a total built-up area of 3 lakh sq. ft., with 2.2 lakh sq. ft. dedicated to gross retail leasable space. In addition to the mall, the development will include IT offices covering approximately 1 lakh sq. ft., as well as a three-star 100-key business hotel with banquet facilities. This will be the first shopping centre by Rohan Corporation, a company that undertakes projects spanning residential, commercial, and mixed-use developments. “Rohan Mall is coming up in Mangaluru and it will cater not only to the city but also to neighbouring towns such as Karkala, Moodubidri, Ullal, and Mulki, making it a true value de...

He was removed as an executive director of Liberty Shoes on September 30, 2023, and ceased to be the chief executive officer (CEO) of the company New Delhi:  Appellate tribunal NCLAT has dismissed the petition of Adesh Kumar Gupta, former CEO and Executive Director of Liberty Shoes, seeking an exemption from minimum shareholding norm to file a case of oppression and mismanagement against the company. Gupta has a 5.83% shareholding in Liberty Shoes. He was removed as an executive director of Liberty Shoes on September 30, 2023, and ceased to be the chief executive officer (CEO) of the company. However, the company informed the stock exchange about his removal from the board on November 21, a day after the Chandigarh bench of the National Company Law Tribunal (NCLT), on November 20 last year, dismissed his earlier plea. Gupta then moved NCLAT and sought a waiver under section 244 of the Companies Act to file a petition under Section 241, alleging oppression and mismanagement aga...