Growth, Expansion Define the Indian Retail Industry
Growth, Expansion Define the Indian Retail Industry
Whether they are new brands or, whether they're technologically advanced or traditionalists, the retail industry has diligently worked towards expansion this past month. Some brands scouted new locations and launched new stores, while others decided to diversify and open different mediums of sale. Either way, the retail industry in India grew at a healthy pace... Lifestyle to Open 20 New Outlets; Invest ₹200 Crore in Biz
Apparel retailer Lifestyle plans to invest up to ₹ 200 crore to add 20 outlets in the next one-andhalf years to increase its footprint across the country. According to a PTI report: Lifestyle is also eyeing 16-18 percent growth and a turnover of ₹4,600 crore this fiscal. It had reported ₹4,000 crore turnover in the previous financial year. The company, which at present operates close to 75 outlets in the country, plans to open majority of the new outlets in the cities where it already has a presence. “We plan to invest ₹150-200 crore to open 20 new outlets in the next 1-1.5 years. At present we have stores in 44 cities… we will go into five more cities and open rest of new planned the stores in the cities where we already have a presence,” Vasanth Kumar, Managing Director, Lifestyle International, told PTI. Kumar said the company gets 75 percent of its business from top cities at present but expect smaller cities to add to its growth in the years to come.
The company also expects its omni channel (combination of offline and online retail) strategy to pay off and contribute significantly over the next five years. “Omnichannel at present contributes about 1-1.5 per cent of our sales but we expect it to be in double digits (10 percent and above) in the next five years,” Kumar was quoted by PTI as saying. Lifestyle is a part of Dubai-based retail and hospitality conglomerate, The Landmark Group.
Woods Expands Retail Presence; Opens First EBO in Chennai
Woods, a premium leather goods, and accessories brand, has officially opened its first exclusive store in Chennai. Located at Palladium, Ground Floor, the store is equipped with captivating interiors along with the good collection offered by the brand. Set over 900 sq.ft., the store showcases the brand’s signature collections, including women’s and men’s bags, small leather goods, footwear, and accessories. The store’s exterior features a full-height, illuminated facade framed with glass windows, while the interior features is a mix of eclectic and bespoke furniture and objects, accented by custom-designed cabinetry, warm lighting, proprietary carpets and fine millwork.
The store has attractive rich wooden panels and a well-organised display of brand’s creations such as footwear, handbags and other accessories on open colossal shelves. The store states its USPS in all modern and dynamic forms so that customers are thoroughly encouraged to stroll through the sections of their choice.
Harkirat Singh, Managing Director, Woodland said, “It’s extremely exciting
to be opening our first exclusive store in Chennai. As a British brand with a global sensibility, we are looking forward to introducing the full breadth of the WOODS London lifestyle offerings to new and existing brand fans in the region.”
Spencer’s Opens Daily Store in Gurugram
Spencer’s Retail, part of Rp-sanjiv Goenka Group, launched a daily store at Sriram Complex, C Block, Sushant Lok, Phase-1, Gurugram. The 4,047 sq. ft. store has got a wide range of merchandise from different categories including fresh fruits and vegetables, staples and groceries, FMCG and processed food, dairy and frozen products, personal care and home essentials.
Giving further details, Spencer’s spokesperson said that, with this store the total count of Spencer’s reaches up to 7 which includes 4 hyperstores and 3 small format stores in Gurugram. There has been a steady rise in customer footfall across the country at Spencer’s Retail. Currently, Spencer’s Retail has 136 stores across India out of which 8 stores opened since April 2018.
With an assortment of around 4,000 products, the range of the daily store has been meticulously selected to suit the day-to-day needs of the local neighbourhood. Customers will get an array of exotic vegetables and extensive variety of fruits from different parts of the country and abroad. Amongst the special attraction is an extensive range of organic food products. Also, the store offers over 60 varieties of dry fruits. To facilitate the customer’s shopping experience, the fully air-conditioned store has free car parking area.
According to the Spencer’s spokesperson, “The store will remain open from 8am to 9 pm and seven days a week to serve the discerning customers of the growing population of Sushant Lok area in Gurugram. Spencer’s will look forward to serve the customers with every best product under its roof at best possible price.”
New Sportswear Brand D:FY Launched Across India
D:FY is a new Indian sportswear brand which has recently launched its flagship store in the Phoenix Market City Kurla mall spanning over 4,000 sq. ft. This store houses a complete range of shoes, apparel and accessories. Additionally, the brand will be available exclusively online only on Amazon Fashion to ensure a pan India presence. D:FY’S key aims are to make great sports gear accessible with great technology and breath-taking looks. In the first season, the collection brings over four proprietary technologies like D:FY FLO, D:FY SNUG FOAM D:FY FLEX R and D:FY WEAVE FIT etc. in shoes and over three such technologies like D:FY SSWEAT, D:FY BOX MESH etc. in apparels.
In a first in sports footwear in India, the brand’s footwear range has been designed in Portland, the sneaker capital of the world, which is made for India with bestin-class technology. The brand worked on an Indian ‘last’ and invested significant capital in its own moulds to give the best material science and composition to Indian consumers. The footwear range targets Indian fitness sensibilities making great sports footwear with great technology available from prices of Rs. 2,200 onwards. Similarly its proprietary D:FY SWEAT technology range of apparel with great moisture wicking capabilities start from ₹799. The brand is planning an aggressive physical presence and begins with 22 stores across nine cities of Mumbai, Bengaluru, Hyderabad, Chennai, Surat, Vadodara, Mohali, Bareily and Hubli by 30th Sep 2018.
D:FY and Amazon Fashion exclusive was launched with a grand event at Phoenix Market City, Kurla, in Mumbai. The event was attended by stalwarts from the retail and online industry, celebrities from the sports and Bollywood as well as influencers, socialites & fitness enthusiasts. The brand has announced India’s defying cricket all-rounder Hardik Pandya along with upcoming Bollywood actress Nidhhi Agerwal as its brand ambassadors.
Fifty Degree Starts E-retailing in India
Fifty Degree, the flagship brand of V3 Exports, which recently entered the Indian T-shirt market, has drawn up plans to expand its footprint across India.
The brand announced that it would be e-retailing through leading e-commerce platforms: Flipkart, Amazon and Paytm. It had recently showcased its latest collection of stylish men’s T-shirts collection for Indian customers at 67th National Garment Fair in Mumbai.