- 6:25 PM
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| Image Courtesy: obscottsindianjewelry.com |
Biba one of the renowned retailer,will open its first stand-alone kidswear store in Bengaluru by mid-September and plans to open five such outlets by the end of 2016-17. Garments will be priced between Rs.499 and Rs.5,999 and will cater to girls in the age group of 2-13 years.
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| Image Courtesy: yebhi.com |
- 2:48 PM
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| Image courtesy: spinfocom.com |
With global media exposure and rising aspirations, Indian customers have been looking for getting their hands on global fashion brands. While the customers have been ready, retailers have not been able to reach out to the customers in large part of the country due to limited and expensive retail space.
Increasing penetration of internet and mobile internet helped the cause and facilitated the growth of online retail.Lifestyle e-retailers like Flipkart and Amazon also saw huge potential in fashion category and joined the bandwagon by promoting such merchandise. Indian ethnic fashion marketplace players like Jaypore, Craftsvilla etc. followed this by offering Indian handcrafted merchandise to attract a section of customers looking for exclusive ethnic fashion.
- 5:38 PM
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| Image Source: Google |
Hidesign, a brand that has become synonymous with high-quality leather accessories such as bags, belts, and wallets,is an exemplary retailer that has seen its revenue grow from Rs.11.3 crore in fiscal year ended March 31, 2010 to Rs.97.72 crore in fiscal year ended March 31, 2014. The brand now mulls opening up seven new stores. The accessories market has evolved and shifted base from functionality to being a prime attraction. From handbags to sunglasses to shoes to even hair ornaments, the accessories industry works in tandem with the apparel industry.
Hidesign bags are made of the best vegetable tanned leathers, coupled with solid brass metal hardware – a complete ‘Make in India’ initiative. The retailer features its own leather tanneries and a loyal set of artisans that understand the brand ethos.
Hidesign was born out of the need to be distinct from the uniformity and synthetic flatness of the mass market.Every Hidesign product is uniquely handcrafted. There is no mass manufacture at Hidesign.
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- 5:18 PM
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Macy's divulged the retail information about the closure of 100 stores next year and boost its online investments, as it tries to become more nimble in an increasingly fierce market.
The closure represents close to 14 percent of its stores under the Macy's brand.This retail information was expected as Macy's had been a stellar performer since the Great Recession in 2008, but in the past year and a half has seen slowing sales as it battles competition on all fronts and changing shopping patterns.
Macy's has been under pressure from investors to sell some of its valuable real estate.One of the largest retailer earned $11 million, or 3 cents per share, in the quarter ended July 30 that compares with $217 million, or 64 cents per share, a year earlier.
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| Image Courtesy: thedailysabah.com |
Macy's has been under pressure from investors to sell some of its valuable real estate.One of the largest retailer earned $11 million, or 3 cents per share, in the quarter ended July 30 that compares with $217 million, or 64 cents per share, a year earlier.
- 11:59 AM
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| Image Source: Google |
Raymond Ltd plans to come out with its Omnichannel strategy within a year to scale up its digital business and woo younger customers. Although, the apparel brand is facing no competition from e-commerce players owing to large customer base. The strategy would help the company to connect with younger customers. Rising sales logged by e-commerce players in general has made the Raymond think hard in terms of adding stores.
Raymond Ltd is one of the biggest retail chains with over 715 Raymond stores spread across 385 towns. Along with other brands under the Raymond portfolio - Park Avenue, Color Plus, Parx, Raymond ready-to-wear, it has more than 1,050 stores, which are both fully-owned and franchisee stores.
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- 6:34 PM
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IKEA Group, the leading Swedish home furnishings company, plans to open 25 stores over next 10 years in India. It also plans to double its sourcing from India to 600 million euros by 2020.
The current volume of sourcing is 300 million euros. About 70 percent of the current sourcing is in textiles and rugs. IKEA is investing Rs 700 crore on the Hyderabad store spread over 400,000 sq feet. It will hire 500 direct workers and provide 1,500 indirect jobs.It will host 5-6 million customers every year.The store will exhibit home furnishing solutions. It will be more than retailing and offer a complete shopping experience.
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| Image Courtesy: digitaltrends.com |
- 5:55 PM
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