Viveat Susan Pinto, Financial Express July 1, 2023 The rivalry between two of the country’s best-known retailers – Reliance Retail and Nykaa – is beginning to play out in multiple categories. After Reliance Retail stepped into the beauty retail space in April with Tira, an online-and-offline beauty destination, to counter Nykaa, the country’s largest organised retailer has set its sights on the women’s inner wear market. Around 60-70% of the $6-billion inner wear market in India is unorganised, with the balance 30-40% being organised with online and offline brands. The organised market is growing at around 15-20% per annum, making…
Pooja Yadav, Afaqs June 30, 2023 Over the last two-three years, we have seen technology innovations making its way into the Indian jewellery sector. Brands have been trying to transform the online jewellery segment by using various technologies like augmented reality (AR), artificial intelligence (AI), live video assistance, computer-aided design (CAD), computer-aided manufacturing (CAM), and more. Despite the numerous innovations, the offline jewellery segment is still ahead of the online space, when it comes to sales. What makes the offline jewellery segment outpace the online segment? The Indian e-commerce market is expected to grow to $111.40 billion by 2025 from…
Dia Rekhi & Faizan Haidar, Economic Times New Delhi, June 29, 2023 Fast Retailing, the parent company of Uniqlo, is looking to set up a significant manufacturing presence in India through about 20 ‘production partners’, multiple people aware of the development told ET. One of the world's most valuable clothing retailers, Uniqlo already has a cluster of production partners in India and is looking to expand this network through a significantly large investment, they said without sharing any estimated amount. “The investment amount will be significant because Uniqlo is serious about India and views it as an important market,” one…
Raghavendra Kamath, Financial Express June 29, 2023 Zara, touted as “Fast Fashion Queen”, has achieved a unique feat in India. The Spanish brand has been growing its revenues without opening any new stores. The fashion brand, run by a joint venture between Tata-owned Trent and Spain’s retail group Inditex, posted a 40.7% growth in its revenues to Rs 2553.8 crore in FY23. The catch is that while many retailers/brands garner sales from opening new stores, Zara did not open any store but closed one during FY23. In FY21 and FY22, its store count remained constant at 21 but its revenue…
Kuldeep Chauhan, Editor-in-Chief, HimbuMail20 June 2023, Shimla/New Delhi For the first time in India, a conference brought together influential religious figures and water practitioners, establishing a powerful alliance with a shared vision of safeguarding water resources for future generations. There is no disagreement over sanctity of water in all religions. But problem is how different communities and their followers take up the task to conserve and protect water and on which scale of their involvement? There are individual success stories in Assam, Himachal, Ladakh (Ice Stupa), Uttarakhand, Rajasthan, Maharashtra and other places where individual initiatives have created wonders conserving water…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
