Written By Faizan Haidar, ET Bureau Synopsis "Physical spaces are built to encourage lifestyle-oriented consumption, moving away from hard sales push. Hence, given the current retail real estate supply, there is a strong likelihood that retail spaces where experiences can be curated will be in short supply even in large cities," said Anshul Jain, managing director, India and Southeast Asia. India's top three cities will need 9 million square feet of retail space every year till 2027 to reach the level of organised retail area available in a country to match cities of a small country like Vietnam's retail space…
By Pranav Balakrishnan & Writankar Mukherjee Global retail giants Walmart and Ikea continued to bleed in India as their losses widened in 2021-22, despite a surge in sales, as per the latest regulatory filings. Three of Walmart entities in the country – Flipkart Internet, which operates the namesake e-commerce marketplace, Myntra and Walmart India, which operates Flipkart Wholesale stores (formerly known as Best Price) that sells goods to mom-and-pop stores, all expanded losses by 40-50% largely due to higher spending on delivering orders, advertisement and promotions, while their revenues grew by up to 45%. Ikea India’s net loss too went…
Christina Moniz Mumbai, October 28, 2022 Earlier this week, global soft drinks major Coca-Cola Company announced that its Iemon and lime flavoured carbonated drink, Sprite, had become a billion-dollar brand in the Indian market. While Chairman and CEO James Quincey attributed much of Sprite's India success to "locally adapted, occasion-based global marketing campaigns and screen time," industry experts outline a few other factors such as consumer preferences that have also worked in the brand's favour. Lemon and lime drinks are not new to the Indian consumer's palate, which provides a large baseline demand for brands such as Sprite, remarks Devangshu…
Spearheaded by Isha Ambani, the venture seems to be an attempt to consolidate the brand’s consumer retail offering. Reliance Retail has launched a premium fashion and lifestyle brand, called ‘Azorte’. It is a consolidation of brands from Reliance’s stables, and has both an offline store at Bengaluru as well as an online presence on azorte.ajio.com. The store stocks products such as clothing, personal care products, home decor, jewellery, and footwear. Most of the brands stocked at Azorte are Reliance's in-house brands. Brands part of Azorte's collection Reliance Retail also caters to consumers online through its website, ajio.com. With JioMart, it…
SHARLEEN D’SOUZA, Business StandardMumbai, 10 October 2022 In early 1994, Titan started selling watches with precious stones in them and called this new line, Tanishq. It went on to become a separate division of Titan Company and grew into the country’s largest branded jewellery outfit, helping raise Titan’s sales to ~28,799 crore last financial year. Thirteen years later, in 2007, Titan Eye+ set out to shake up the eyewear market. Though it also sells sunglasses of other brands, it is the prescription segment that Titan redefined and now, according to its website, has 550 Eye+ exclusive stores in 229 cities.…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
