LUXURY RETAIL
Saks owner to buy luxury retailer Neiman Marcus in $2.65-billion deal
HBC, the parent company of Saks Fifth Avenue, announced on Thursday that it will acquire the department-store chain Neiman Marcus in a $2.65-billion deal. This acquisition is expected to give the companies stronger negotiating power with vendors and better control over costs
Do you know how much luxury bags of Dior and Armani cost? Startling revelations made after Italian police raid Milan units
Dior and Armani's units have been placed under judicial administration for one year after they were accused of exploiting the workers and not abiding by the labor laws. LVMH CEO Bernard Arnault is the world's third richest person. His daughter, Delphine Arnault, is the CEO of Dior.
15 places to buy Amazon liquidation pallets in the USA
Discover reputable companies offering Amazon liquidation pallets with a wide range of products at competitive rates. From electronics to household essentials, these top 15 companies provide quality goods for wholesalers, retailers, and bargain hunters.
Audi India sales dip 6 pc in June quarter
Audi India on Monday reported a 6 per cent dip in retail sales at 1,431 units during the April-June quarter this year. The German luxury carmaker had sold 1,524 units in the year-ago period. "While the supply situation in Q2 2024 has improved compared to Q1 2024; it still played a limiting factor on our sales performance," Audi India Head Balbir Singh Dhillon said in a statement.
Godrej Properties buys 7-acre land in Bengaluru to build housing project worth Rs 1,200 cr
Godrej Properties has acquired a 7-acre land in Thanisandra, North Bengaluru, for developing a luxury housing project. The project is expected to yield around 9 lakh square feet of residential space, with an estimated revenue of Rs 1,200 crore. In a separate development, the company will also develop an 11-acre land parcel in Hinjewadi, Pune, focusing on group housing and high street retail, with a projected revenue of approximately Rs 1,800 crore.
Stanley Lifestyles to double business in next four years; expand in major metros: CMD
Stanley Lifestyles, a luxury furniture maker, focuses on major metros and aims to double business by localizing raw material production through European joint ventures, reducing import dependency.
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Titan Eye+ to resume expansion strategy amid growing eyewear market
Titan Eye+, an eyewear retailer, will resume network expansion from July. The company, an arm of Titan, has over 900 stores across 350 cities and recorded earnings of Rs 707 crore in fiscal year 2023-24. The company is aiming to expand its premium eyewear market share to 10% or less, with the launch of retail store Runway for premium sunglasses.
Stanley Lifestyles IPO subscribed 96.98 times
The qualified institutional buyer (QIB) portion was subscribed 222.1 times, the non-institutional investor (NII) portion 119.52 times while the retail investor portion was subscribed 19.21 times.
Stanley Lifestyles IPO booked nearly 97 times at close. Check GMP and other details
Stanley Lifestyles IPO showcases strong demand and oversubscription across investor categories, with analysts recommending subscribing for long-term growth. The company's unique market position, revenue growth, and strategic lead managers signal a promising future in the luxury furniture industry.
Flexible workspace operator Spring House leases 300,000 sq fr at MVN Aero One mall in Gurgaon
Spring House secured 300,000 sq ft at Gurgaon's MVN Aero One mall, offering cost-effective office spaces. The location caters to diverse demands, including from large enterprises and startups focusing on research and development operations.
Shoppers Stop aims to open 60 new INTUNE stores in FY25
Shopper Stop plans to open 60 new INTUNE stores this fiscal, aiming to capitalize on mass premium opportunities in India's value fashion sector. With strategic investments in merchandising and analytics, the retailer is expanding its private labels and beauty brands to cater to evolving consumer preferences and growing brand consciousness.
Stanley Lifestyles IPO booked 3.2 times so far on Day 2. Check GMP and other details
Stanley Lifestyles, a luxury furniture maker, saw its IPO oversubscribed 3.2 times on the second day. The net proceeds will fund store expansion and renovation.
Stanley Lifestyles high on luxury quotient, raises Rs 161 cr from anchors
Private equity-backed Stanley Lifestyles, the fourth-largest player in India's home furniture market, is set to launch a ₹537 crore IPO. The company's revenues have more than doubled, and net profit has grown significantly in recent years.
Holiday home demand tapers off as rentals fall
Goa is becoming a first-home market with interest from businessmen and startup founders. Luxury second homes are in demand, especially in locations like Porvorim. Coonoor Estates is developing high-end luxury homes for buyers looking to settle down.
Mall developers see opportunity in tier 2 cities
Brands include H&M, Marks & Spencer, GAP and Tasva set up shop in cities like Indore, Mangalore, Patna, Ranchi, Mysore, and Coimbatore, according to data from real estate consultancy CBRE.
Dhanuka Agritech promoters, Lenskart founder buy apartment at The Camellias in Gurgaon
Promoters of Dhanuka Agritech and Lenskart’s Peyush Bansal bought apartments at The Camellias in Gurgaon for Rs 80 crore, joining other business leaders at the upscale residential complex.
360 ONE founder Karan Bhagat buys luxury apartments in Mumbai’s Worli for Rs 170 crore
Bhagat founded 360 ONE, formerly known as IIFL Wealth & Asset Management, along with his colleagues in 2008. The firm is currently among India's largest asset and wealth management firms with more than $56.3 billion assets under management. Bhagat’s team works with and for around 7,200 top families in India including industrialists; new age technology founders and professionals including leading CEOs, lawyers as well as sportspersons and artistes.
Apple not the only company to grapple with cash payments in India; cash also figures prominently in car sales
With customers continuing to stream in with wads of notes to buy mobile phones or computers, payments for 7-9% of the American firm's sales in the two stores in India are made with cash, compared to less than 1% or even nil in its stores in the US or Europe, according to people with knowledge of the matter.
Iconic British car brand Jaguar Land Rover plans to ride India's luxury boom
The luxury carmaker plans to launch at least half a dozen new models from the JLR stables, both ICE and EV (internal combustion engines and electric vehicles), as it seeks to capitalise on the growing number of high-net-worth individuals in the country. This is the most aggressive push by JLR since it entered the Indian market in 2009.
Nykaa’s Q4 revenue rises 28% to Rs 1,667 crore
The operating revenue growth was led by a 24% increase in the core business, beauty and personal care (BPC), to Rs 1,388 crore during the quarter. For the full financial year, BPC saw a 20% year-on-year increase to Rs 5,385 crore.
Traditional methods insufficient to control counterfeiting in luxury retail market: Qila
Luxury goods retail faces a $30 billion annual loss due to counterfeiting, prompting a shift to advanced technologies like blockchain and tokenization. These innovations ensure product authenticity and protect brand reputation. Blockchain tracks products from manufacture to sale, offering easy verification for consumers. Tokenization creates unique digital fingerprints for each product, enabling instant authenticity checks via QR codes or apps. Despite challenges in setting up infrastructure, these technologies promise to revolutionize the industry, enhancing transparency, building trust, and securing luxury goods' integrity.
Why offline shopping needs to be far more experiential
Big retail in India needs reinvention. The mall as a massive real estate complex is an American idea that goes back to a combination of consumer boom, timescape, landscape and culture that suited the West rather than India. Mall culture is changing in the West itself.
Two M3M Group companies denied land parcels in Noida for poor pricing
UP govt cancels Noida land allotment to M3M's Lavish Buildmart and Skyline Propcon due to non-competitive rates. M3M invested ₹4,000 crore in The Cullinan project with RERA registration.
Retailers to continue hiring in 2024, focus on tier 2, 3 cities : Report
In 2024, retail jobs surge with the operationalization of brands expanding from 2023, driving demand by 15-20%. E-commerce, despite startup leadership, faces hiring challenges. Logistics saw a dip. Retailers target fresh grads (52%) and experienced pros (38%). Tech adoption, sustainability, and skill development are key industry trends amid exponential e-commerce growth.
Luxury car companies speed up amid SUV ‘road rage'
Luxury car makers such as Mercedes-Benz, BMW and Audi are set to launch several new sport-utility vehicle models over the next three months, hoping to further deepen their foothold in this growing segment fuelled by evolving lifestyle trends and changing preferences of India’s affluent buyers.
Audi India reports 33 pc rise in retail sales in FY24
Audi India has recorded a 33 per cent surge in retail sales, with 7,027 units sold in the fiscal year ending on March 31, 2024, up from 5,275 units the previous year. Head of Audi India, Balbir Singh Dhillon, attributed this growth to the strong demand for their diverse product range, expressing confidence in overcoming supply challenges.
Consumer spending underwhelming, UK retailers turn to 'extreme bargains'
Matches' woes are the latest sign that retailers' trouble is spreading across the Atlantic amid weaker consumer spending. Shops have been pushed to the breaking point after inflation has boosted their expenses and weighed on consumer spending, and even heavy discounting isn't enough to save them.
Luxury brands prefer high streets, lease 600,000 sq ft in 2023
High streets have become the top choice for luxury brands in India, with over 100% year-on-year growth in leasing in 2023, according to CBRE data. Malls remain the second most preferred category, with 300% year-on-year growth. Luxury brands are aggressively seeking new avenues to attract both seasoned and aspiring luxury consumers in India. The surge in leasing has been accompanied by the entry and expansion of various international luxury brands across different locations.
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