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24 February 2022, Mumbai:
E-commerce startup Meesho added 4 lakh sellers and 15 million entrepreneurs in 2021. Of these, 9 million were women entrepreneurs, notes Utkrista Kumar, Head-Business.
Around 70 percent of new entrepreneurs added in 2021, came from Tier II and III markets. The company has adopted a 0 percent commission structure for sellers to realize the maximum value of the products they sell.
This has enabled sellers to sell at lower prices on the platform and also bag more orders.
ALSO READ: Meesho digitized 4 lakh vendors
In the last six months, Meesho launched five new categories including sports and fitness, health and wellness, pet supplies, office stationeries, and automated accessories.
The company’s sports, fitness, health, and wellness categories have grown over seven times since its launch. The demand for pets and supplies category has also increased significantly, adds Kumar.
Meesho now plans to enter new categories such as food and beverages, musical instruments, games, industrial supplies, agriculture and farming hobbies, and collectibles.
It also aims to increase its seller base to 100 million monthly by December 2022.
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24 February 2022, Mumbai:
Future Group recently informed the Supreme Court it will not be able to implement Amazon’s agreement to invest Rs 1,431 crore to acquire 49 percent equity in Future Coupons.
The Biyani controlled companies filed a joint affidavit in the SC and said the performance of the Future Coupons Shareholders Agreement (SHA) of August 22, 2019, has been rendered impossible.
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ALSO READ: Future Group looks at Selling its Stake in Insurance JV to Italian Partner
The group said, since the shareholding agreement cannot be implemented, the court should terminate the arbitration proceedings initiated by Amazon before the Delhi-based international arbitral tribunal to restrain Future Retail’s agreement with Reliance Retail, which promises to acquire the retail chain with an investment of Rs 25,000 crore.
Amazon had filed a special leave plea in SC challenging the decision of a division bench of the Delhi HC staying the arbitration proceedings till March 21 in view of the CCI order.
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23 February 2022, Mumbai:
German sports apparel designer and manufacturer, Adidas has launched a new campaign for Indian women athletes with ‘Impossible is Nothing’ as its tagline. Adidas has been a long-term partner of some of the best athletes in the world.
The brand encourages women to create new possibilities through partnerships with include Manika Batra, Dipika Pallikal, Nikhat Zareen, Mirabai Chanu, Lovlina Borgohain and Hima Das.
The brand will launch the new campaign globally with a film series featuring a diverse portfolio of eminent women from sport, fitness, and lifestyle.
ALSO READ: Adidas ropes in Manika Batra for new marketing campaign
It will features personalities like Deepika Padukone, Mirabai Chanu, Lovlina Borgohain and a host of other inspiring women. The campaign will be led by the stories of women who have made their impossible possible, with the aim of inspiring others to do the same under the "I'mPossible" message.
In 2022, Adidas made some major investments in innovating its women-focused product range.
In December, the brand introduced Ultraboost 22, to address differences between male and female instep height, heel anatomy and gait cycle trends; and will continue to launch innovations across the year.
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24 February 2022, Mumbai:
New Delhi-based ethnic wear brand Libas will hold its flagship sale event-Libas Purple Days Sale from February 25, 2022. The sale event will offer shoppers discounts up to 60 percent on the latest ethnic wear trends, both online and in-stores.
The event will showcase stylish kurtas, graceful suit sets, breezy ethnic dresses, timeless saris, comfortable loungewear, flattering plus-size options, etc.
Starting on February 25 up to March 2, 2022, the sale will offer many amazing deals. Customers will be provided an extra 10 percent discount on their orders worth Rs 2,499 and above by using the code 'PURPLE10'.
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They can also avail of an extra 15 percent on purchases worth Rs 3,999 and above by using the code 'PURPLE15'. Well-accustomed to offering customers safe, secure, and prompt doorstep deliveries, Libas also offers convenient online payment options along with payment on delivery.
Customers can avail themselves of free shipping and easy returns within 15 days of purchase. Launched in 1985, Libas offers everything from stylish ethnic wear to comfortable fusion silhouettes for women, carefully curated in line with fashion trends worldwide.
It creates aspirational yet affordable and approachable fashion.
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23 February 2022, Mumbai:
The store covers a carpet area of 4000 sq feet with more than 2500 sq ft of retail area, housing leading global brands.
Sports and athleisure wear brand SSIPL has launched its Sports Station’s flagship store in Jalandhar. The store covers a carpet area of 4000 sq feet with more than 2500 sq ft of retail area. With over 80 stores spread over 70 cities pan India, this is a new addition to their growing family.
Sports Station specializes in sportswear and athleisure wear from the biggest labels in the business - Nike, Adidas, Skechers, Reebok, Puma, Asics, etc which includes a vast range of performance and lifestyle footwear, apparel, and accessories, says the company statement .
ALSO READ Myntra: Partners with sportswear brand New Balance
The target audience includes the middle and upper-class individuals in the 20-35 years group in tier 1 and tier 2 cities. SSIPL is an integrated sportswear company serving over 12000 customers daily via 300,000 sq ft of retail space.
They are the official partners in India for several leading brands. Speaking about the development Aasheesh Mediratta The CEO of SSIPL said,” We are thrilled to take our story forward with another flagship store of Sports Station, this time in Model Town Jalandhar.
Sports and athleisure wear trend has been a strong one, and it’s here to stay and we expect a great response from the sports-loving people of the city.
The store offers a huge range of products across apparel and footwear categories and the team there is committed to offering the customers a great shopping experience.”
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*Figures mentioned in the above article have been sourced from Retail4Growth article.
22 February 2022, Mumbai:
Slated to be held from May 12-14, 2020 at the Bombay Exhibition Centre, the trade fair will unite buyers and industry stakeholders for product sourcing and B2B interactions.
Media Expo has consistently proven to be a leading exhibition for advertising and creative field professionals to converge, network and build trade alliances.
It has been home to some of the latest technology showcases in printing, signage, retail displays, finishing and fabrication as well as consumables and media.
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To be organized by Messe Frankfurt India, the trade fair’s new product section will encompass various label printing technologies and materials for the flexible printing and packaging segments, giving business visitors a much broader value and brand new variety of products to include in their arsenal of branding tools.
Leading manufacturers of large-format printing technology, HP India and Mehta Cad Cam will be introducing their most advanced labelling and packaging production technologies for the very first time on the show floor of Media Expo.
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24 February 2022, Mumbai:
Fabindia plans to build a new product portfolio to penetrate into the ‘non-diaspora’ international markets. The retail chain plans to expand its physical network across geographies besides expanding its omnichannel and direct-to-customer operations.
In FY19, FY20, FY21, and the six months ended September 30, 2021, the company’s revenue from operations from outside India amounted to Rs 10.58 crore, Rs 10.35 crore, Rs 7.2 crore, and Rs 4.4 crore, representing 0.94 percent, 0.91 percent, 1.24 percent, and 1.29 percent, respectively, of the company’s total revenue from operations in such periods.
International markets contributed approximately 55.61 percent and 54.34 percent sales in FY21 and in the six months ended September 30, 2021, respectively, and will continue to remain the focus areas.
ALSO READ: Fabindia and Hidesign opened their first joint location store in Chennai.
Fabindia also plans to expand its physical retail network in new and existing domestic markets, says Vinay Singh, Managing Director. The company has 55 percent of its stores in metros and mini-metros.
The others are in Tier-I, II, and III cities. Fabindia also plans to broaden lifestyle offerings including fusion wear and accessories to target the younger audience.
It plans to add new products that are contemporary, can be used daily, and are more affordable, adds Singh.
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22 February 2022, Mumbai:
Recognizing that trims are one of the biggest challenges for garment recycling, YKK announces a new collection of NATULON® recycled zippers made with ECONYL® regenerated nylon.
ECONYL® nylon, manufactured by Aquafil SpA and supplied in collaboration with ITOCHU Corporation, is made entirely from nylon waste collected all around the world, such as industrial plastic, fabric scraps, old carpets, and fishing nets from the aquaculture sector. The material can be continuously recycled without loss of quality.
YKK will offer ECONYL® regenerated nylon products in three categories to the European market: VISLON® NATULON® recycled zipper made with ECONYL®, a fully ECONYL® plastic injected zipper; EXCELLA® NATULON® recycled zipper made with ECONYL®, a top-of-the-range brushed metal zipper; Recycled sew-on button made with ECONYL®, a simple button to sew on nylon garments.
ALSO READ: WaveOn Joins YKK’s Touchlink® Fastener Network
“YKK understands circular fashion as a regenerative system where garments are circulated for as long as their maximum value is retained, and then returned safely to the biosphere,” said Hitoshi Yamaguchi, President of YKK Italy. “As a small part of the supply chain, we firmly believe that circularity is the key to building sustainability. This is our motivation when we design the highest quality recycled and recyclable fastener products.
YKK has been expanding its NATULON® recycled zippers series, which features zipper tapes made from PET bottles, old fibers, and other polyester residues.
It recently introduced NATULON Plus™, in which the chain and the slider are also made entirely of recycled polyester.
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22 February 2022, Mumbai:
India’s premier fashion and beauty destination, Shoppers Stop plans to open new department stores every year.
The brand has already opened four department stores in Jaipur, Jodhpur, Lucknow, Chhatrapati Shivaji Maharaj International Airport (Domestic wing), and #SSBeAUTY, a luxury beauty store in Mumbai. Over a period of time, it has expanded its presence in Tier I and II cities.
Shoppers Stop has witnessed tremendous growth with the launch of #SSBeAUTY stores, a standalone beauty format. The retail chain plans to expand and open more #SSBeAUTY stores this year.
ALSO READ: Shoppers Stop posts net profit in Q3 FY22
Currently, the brand is focusing on social shopping to give customers a seamless experience from discovery to check-out.
The brand has invested Rs 40 crore in digital operations to enhance customer experience and build a sustainable growth rate.
Shoppers Stop retails over 500 of the finest international, national brands such as MAC Cosmetics, Veromoda, Cover Story and Only, along with exclusive brands like Kashish, LIFE, Fratini, Arcelia, etc.
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24 February 2022, Mumbai:
After a pandemic-induced lull of two years, many global retail brands and retailers plan to expand their operations in the country.
German footwear brand Birkenstock plans to open 25 outlets in India this year, while Italy’s Pianoforte Group aims to launch 20 stores each of the Yamamay and Carpisa brands in the next two years.
Lingerie major Victoria’s Secret also plans to set up its first brick-and-mortar outlet on 4,000 sq ft in Delhi’s Ambience Mall.
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This is the right time to expand as markets are opening up and restrictions have been eased, says Rohit Malhotra, CEO, Jay Jay Capital & Investments.
The company plans to open about a dozen shop-in-shops and standalone outlets this year of global sportswear and athleisure brands of Lonsdale London and sports equipment company Everlast.
Varun Bagadiya, Director, Element Retail, plans to open 10 Birkenstock franchisee outlets this year in cities including Bengaluru, Mumbai, Pune, Ahmedabad, Surat, and Thiruvananthapuram. On the other hand, Hennes & Mauritz plans to add H&M Home shop-in-shops to most of its existing four-dozen stores in India.
The pandemic has made mall space cheaper by around 20 percent and the trend is likely to continue in 2022, says Kirti Khosla, Marketing Agent, Pianoforte, which is expanding its Yamamay and Carpisa stores.
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23 February 2022, Mumbai:
To strengthen its social commerce preposition, Flipkart-owned e-commerce platform Myntra has launched a group of fashion content creators and influencers known as Style Squad.
These content creators and influencers will curate collections and content to engage with consumers. Their videos will be uploaded on the Myntra platform along with Instagram, YouTube, and Facebook.
The Style Squad will become Myntra digital ambassador and drive its fan base. It will also scale awareness for Myntra on social channels. The social commerce initiative includes a live component and an on-demand component.
ALSO READ: Myntra launches Style Squad to curate collections and content for consumers
The live commerce piece is similar to tele-shopping while the on-content piece is more curation-led.
The Style Squad advises shoppers on styles and helps them discover curated looks and more trends, hacks, and tips to elevate their fashion and beauty game.
The members of the Style Squad are chosen to keep in mind their pan-India reach, their following on Myntra, influence, and impact on the fashion, beauty, and lifestyle inclined audiences.
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22 February 2022, Mumbai:
The quick rebound in sales has led to a hike in prices of luxury brands from Louis Vuitton to Gucci and Carter. As per UBS analysts, top brands including the LVMH-owned Louis Vuitton have raised their prices two-and-a-half times than the inflation rate over the past 20 years.
LVMH recorded sales worth €64 billion ($72 billion) and a profit of €12 billion last year, both exceeding pre-pandemic levels.
ALSO READ: Myntra teams up with The Collective to offer luxury brands
The French company also owns a broad range of spirits, perfume, jewellery and cosmetics products.
Owner of Gucci, Yves Saint Laurent, Kering also beat its pre-COVID levels to clock a net profit of €3.2 billion euros and sales of €17.6 billion.
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The company creates a new collection for every season and reviews all price matrices.
Hermes’ profits reached € 2.4 billion while sales touched €9 billion. The brand raises its prices once a year. It is less susceptible to rising energy and raw material prices than other brands, says Axel Dumas, CEO.
Owner of the brand Carter, Swiss group Richemont’s sales increased 38 per cent in third quarter to € 5.6 billion. The prices of Rolex increased by over 3.0 percent on average at the start of 2022 while Chanel recently saw an aggressive hike in prices of iconic bags
In November 2021, consultancy firm Bain & Company forecasted, the luxury goods sector would grow by 6.0-8.0 percent annually and expand to €360-380 billion by 2025.
However, the rising prices may hurt sales, opines Arnaud Cadart, Fund Manager, Flornoy.
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