NEWSMAKERS NATIONAL BRICK-AND-MORTAR RETAILERS REMAIN BULLISH EVEN IN THE AGE OF AMAZON
Retailers in India are making pragmatic moves ranging from expansion to strategising and venturing into new domains in order to make their businesses profitable.
H&M TO FOCUS ON TIER II CITIES, ADD 8 NEW STORES IN 6 MONTHS
Swedish fashion retailer Hennes & Mauritz (H&M) will add eight more stores to its network over the next six months focusing on tier II cities. H&M will add 1.60 lakh square feet of retail space by the end of this year, totalling 6.50 lakh square feet within two years of starting its operation in India. The addition of new stores would take its store count to 24. Besides, the company has also plans to go online in the Indian market from 2018. “This autumn, H&M will have 8 more stores across Mumbai, Bangalore, Delhi NCR as well as Indore, Coimbatore and Amritsar. Adding a total of 1,60,000 square feet of retail space,” H&M India Country Manager Janne Einola told news agency PTI.
“We do see India as an important part of our global expansion; we aim to grow with our business concept of Fashion and Quality at the Best price in a sustainable way,” he further told PTI. H&M India clocked sales of approximately Rs 435 crore from December 1, 2016 to May 31, 2017. The Swedish firm, which last week came out with its six months report, said that to start online sales from 2018 is a move to tap the growing e-commerce segment. “India will be a new H&M online market in 2018. Additional new online markets will open in 2018,” the company had said in the report. However, the company did not share details about its online sales strategy, as how it would start operations in India. “H&M is especially excited to expand its reach in India, a market that poses tremendous potential both in Tier I & Tier II cities and now online” Einola said. In the first half of 2017, H&M rolled out six new online markets — Turkey, Taiwan, Hong Kong, Macao, Singapore and Malaysia and has plans to add Philippines and Cyprus later in 2017.
FLIPKART LAUNCHES FIRST PRIVATE LABEL FOR MEN, METRONAUT
Flipkart Fashion has launched its first fashion private label for men – Metronaut, a contemporary urban fashion line offering the trendiest styles at incredible price points. A mix of unpretentious, contemporary and smart, the collection will feature a wide range of over 300 styles in men’s clothing and accessories which will be rapidly ramped up to tap into the growing market amongst fashion-forward Indian men.
Men’s apparel has been one of the largest and fastest growing categories in the online lifestyle space in India. It has been observed that men have a high affinity to seek and shop for brands while shopping online. However, through extensive tracking and analysis of the purchase and returns behaviour of men shoppers, Flipkart observed a drastic gap in the demand of consumers compared to goods available in the market.
With this launch, Flipkart aims to squarely solve quality issues and offer products at affordable price points, with great styles, perfect fit, and longevity, and thereby create a trusted brand in a fragmented market of casual men’s wear. Speaking on the launch, Head – Flipkart Fashion, Rishi Vasudev said, “Men’s fashion is one of our fastest growing categories, and we are one of the dominant players with over 40 per cent market share. With the launch of Metronaut, our objective is to expand our men’s fashion portfolio and offer optimum quality products at competitive price points to our male consumers.” He further added, “Metronaut is expected to help us grow Flipkart’s men clothing business further and enable creation of stickiness for our large male shopper base.”
Retailers in India are making pragmatic moves ranging from expansion to strategising and venturing into new domains in order to make their businesses profitable. Here’s a look at recent retail happenings.
TURTLE OPENS THEIR 100TH EXCLUSIVE BRAND STORE AT BAGUIHATI, KOLKATA
Turtle, a premier men’s lifestyle brand recently opened their 100th exclusive brand store at Baguihati, Kolkata. The store, spread across an entire floor at Raghunathpur showcases some of the best in class men’s wear exclusively designed for the modern man. The boutique is entirely dedicated to the men’s apparel and accessories prêt-à-porter collections. The store was inaugurated by noted Bengali cinema actor Prambrata Chatterjee and Director, Turtle Limited, Shitanshu Jhunjhunwala. A gala fashion show was also organized at the store to mark the celebration of 100th store.
The 1000 sq. ft. showroom exhibits formal shirts and trousers in pure cotton and linen. The international designs coupled with the adventurous colour palate strive to create an effortlessly cool yet professional look. The ‘Sport Club’ collection comprise of a range of Denims, T-shirts and Polo necks etc in versatile colours. The store will also house the much coveted ‘Hand Woven Collection’ of Turtle. The brand has been the first to introduce the original ‘desi’ fabric of India in a modernised and trendy avatar.
Apart from the ultimate men’s apparel collection, accessories such as belts, wallets, cuff links and ties are also on offer. “It is a matter of pride for us, a long-cherished journey with the opening of the 100th exclusive store of Turtle. We have always kept in mind the consumer demands and the change in market trend with regards to our designing and product quality and moved ahead accordingly. We would like our consumers to enjoy apparel shopping experience at our stores and I do hope that our hospitality apart from the wide variety of chic collection would make them feel content. “
KIODA TO ENTER INDIA VIA FRANCHISE ROUTE, OPEN 300 STORES BY 2021
Malaysia-based Korean concept retail store KIODA plans to open 300 stores in India by 2021 and has tied up with a franchising company which will invest US $10 million for expansion and marketing. KIODA, which has a product range of cosmetics, gifts, stationery and household items, is looking to source 25-30 per cent of its products locally for Indian stores and rest to be imported from Malaysia. KIODA will open 300 stores in the next four years, the company said in a statement. “We eventually want to source products from India itself especially in the F&B range. KIODA stores will be unique stores which have a Korean concept and experience,” Managing Director, KIODA, Alvin said. The company, which currently has presence in Singapore and China apart from Malaysia, plans to expand to 13 more countries by 2018.
CENTRAL LAUNCHES ITS FIRST HIGH DEFINITION STORE IN KOLKATA
Future Group recently launched its first ever Next Generation Central brand at New Town, Rajarhat. Central offers world class designs, with over 500 brands displayed in high definition, and latest trends making this the one-stop destination for shoppers. Spread over a sprawling 100,000 sq. ft. Central aims to attract the style savvy individuals from the city. With world class services and a bouquet of high fashion brands to shop from under one roof, the Next Generation Central will take the shoppers’ buying experience to the next level.
With state of the art décor, minimalistic fixtures and an aspirational fashion boutique feel, the Next Generation Central vows to provide a delightful shopping experience to its customers right from the time they enter the store to the billing and cash counters. The space has subtle displays that compliments the store design and aesthetics. The store is designed and specialized to offer an enhanced and a more customized service to shoppers as per international standards.
The Next Generation Central will showcase a premium mix of national and international brands in various categories like Men’s and Ladies Formal Wear, Casual Wear, Ethnic Wear, Cosmetics, Fragrances, Handbags, Watches, Men’s and Ladies Footwear, Toys, Kids Apparel, Lingerie and more. From brands like Tommy Hilfiger, Guess, Gucci, FCUK to acclaimed designer names like Michael Kors, Giorgio Armani, Ferragamo, Calvin Klein, Diesel, Roberto Cavalli, Versace, Dolce & Gabbana, Central will serve as the one stop shop for the fashion-conscious customers of the capital. Speaking at the launch, Kishore Biyani, Group CEO, Future Group said, “Kolkata was the first city with which we started Future Group.