RETAIL INDUSTRY
Kataria Industries IPO opens today: Price band, GMP among 10 key things to know before subscribing to the issue
Kataria Industries IPO is now open for subscription, aiming to raise Rs 54.58 crore. Investors can bid for shares at Rs 91-96 per share. The company specializes in manufacturing concrete strands, steel wires, and other products for the engineering sector.
China June industrial output growth slows, retail sales miss expectations by large margin
Retail sales, a gauge of consumption, rose 2.0% in June, slowing significantly from a 3.7% increase in May. Analysts had expected retail sales to grow 3.3%.
Shoppers Stop plans large-format standalone outlets, will also house Aditya Birla Group’s The Collective
Shoppers Stop declined to comment. Since its inception over three decades ago, Shoppers Stop has been mostly selling merchandise for the masstige or bridge-to-luxury segment. The decision to foray into luxury retailing comes amid a spike in the number of wealthy people in the country. “For us, premiumisation is not just selling luxury products…but (if) a person who used to buy from the roadside has now started buying from the mall, (that) is also a premiumisation,” Kavindra Mishra, managing director and CEO of Shoppers Stop, had told ET last month.
Retail inflation for industrial workers eases to 3.86 pc in May
In May 2024, retail inflation for industrial workers in India eased to 3.86%, down from 4.42% a year earlier. The Consumer Price Index-Industrial Workers (CPI-IW) rose by 0.5 points to 139.9 points, compared to 139.4 points in April 2024. The food and beverages group increased to 145.2 points from 143.4 points in April, while the fuel & light segment decreased to 149.5 points from 152.8 points. The Labour Bureau compiles these indices based on retail prices collected across 317 markets in 88 industrially significant centers nationwide.
Gross written premiums of general insurers up 13.3% in Q1
India's general insurance sector saw strong growth with an 8.76% increase in premiums for June and a 13.33% rise for the first quarter, driven by higher demand for motor and health insurance. Companies like ICICI Lombard and Star Health Insurance reported significant gains, especially in retail health and motor segments. However, New India Assurance faced slower growth, losing market share. Overall, the industry's gross premiums reached ₹72,757 crore, reflecting steady expansion and shifting consumer preferences towards comprehensive insurance coverage.
Mobile phone retailers call out rampant fraud, press no on easy EMIs for phones
Mobile phone retailers are calling for an end to financing schemes after reporting 10-12 per cent fraudulent purchases. They are advocating for open-box deliveries and biometric verification to prevent misuse. Apple is aware of the issue, but no significant action has been taken yet.
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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.
Once rebuffed, a Chinese company finds the Ambani route to India
It seems a safe India entry for Shein because this time the ownership and control of the platform will remain with Reliance Retail's subsidiary; the platform will be hosted on infrastructure in India; and all platform data will remain in India, which Shein will not have access to, or rights over, ET has reported based on information from sources.
Reliance Industries Invests Rs 4,330 cr in Retail Unit in FY24
Reliance Industries invested Rs 4,330 crore into its flagship retail company, Reliance Retail, in the past fiscal year, a shift from previous reliance on debt funding. The investment, made through its subsidiary RRVL, included both equity and debt. Reliance Retail transferred its supply chain assets to RLWH at a valuation of Rs 8,000 crore. This move aims to unlock value from assets and improve cash flow, following recent investments by ADIA and KKR in RLWH.
187 BSE500 stocks offer double digit returns as markets scaled new heights in June
The India Cements was the top gainer in this pack with nearly 44% return, followed by Amara Raja Energy (41%), JK Paper (40.5%), and V Mart Retail (40.5%).
Jewellery and fashion retailers hope for demand boost during festive, wedding season
Fashion and jewellery retailers are optimistic about increased demand during festivals and the wedding season in the latter half of the year. A good monsoon is expected to boost consumption among those in the agrarian sector. The mass segment suffering due to cautious spending behaviors. Retailers are concerned about flat demand growth and are closely monitoring the upcoming Union Budget for industry implications.
Reliance Retail's FMCG plans stay in fast lane with funds on tap
RCPL has raised a total of ₹1,053 crore as debt capital from the parent company over 14 months, according to the filings. RCPL began operations in November 2022 and completed its first full year in FY24. In the filings, RCPL said the proceeds will be used for business operations. A senior industry executive, aware of the plans, said the funding from the parent into RCPL will continue in this fiscal as well, since Reliance has plans to rapidly grow the FMCG business.
Reliance Retail sets the ball rolling on delivery in an hour, starts pilot service in Mumbai, Navi Mumbai
Reliance Retail's Mumbai delivery service aims for quick fulfillment in 30-45 minutes, integrating with kirana stores for wider reach. The company is utilising tech platforms like FYND and Locus for efficient operations.
Can we please ethnically cleanse 'ethnic wear'?
The article discusses the term 'ethnic wear' and its implications in the Indian retail industry. It critiques the use of the term and suggests using 'Indian wear' instead. The author highlights the cultural and linguistic aspects related to the labeling of clothing in stores.
Reliance shareholders approve retail unit's $4 billion lease to Jio Financial
JFS plans to acquire equipment worth 360 billion rupees from Reliance Retail, as the financial services provider plans to enter the device leasing business. Through the deal, JFS' unit - Jio Leasing Services - will buy customer premises equipment, devices and telecom equipment such as routers and cell phones.
RAI's Budget wishlist: Lower taxes for individuals, benefits on land rates, electricity
BUDGET EXPECTATIONS: The Retailers Association of India (RAI) has urged the Union Budget FY25 to focus on lowering individual taxes to boost demand and consumption. RAI's pre-Budget recommendations include low-cost financing, subsidies on land and electricity, and the adoption of supportive policies to strengthen the retail sector, which contributes 10% to India's GDP
China's May industrial output misses forecasts, retail sales a bright spot
China's industrial output fell below expectations, leading to calls for fiscal and monetary policy support. Retail sales exceeded forecasts, driven by global demand.
Stop, thief! Retail giants are facing a new 'lifting' problem - not just from customers, but also staff & vendors
Indian retail faces increasing shrinkage issues due to thefts and errors, with Trent Ltd reporting a rise in shrinkage to 0.41% of sales in FY24. V-Mart Retail's shrinkage increased from 0.4% to 0.5% in the same period.
Retail inflation for industrial workers eases to 3.87pc in April
Retail inflation for industrial workers decreased to 3.87% in April from 4.2% in March. Ministry of Labour and Employment released the Consumer Price Index-Industrial Workers (CPI-IW) for February, March, and April 2024. The Labour Bureau compiled the Consumer Price Index for Industrial Workers every month. The All-India CPI-IW for April 2024 increased by 0.5 point.
Trent plans global retail push after acing it in India
Noel Tata-led Trent is venturing into international markets with a flagship store in Dubai, targeting the Indian diaspora. Zudio, a key brand, has surpassed ₹7,000 crore in revenue in India. The company experienced another year of substantial growth in FY24, with net sales increasing by 50% to ₹12,375 crore and net profit nearly quadrupling to ₹1,477 crore.
Reliance Retail starts ONDC pilot via retail platform Fynd
Reliance Retail, a subsidiary of Reliance Industries, has begun testing the government's Open Network for Digital Commerce (ONDC) through Fynd, an omnichannel retail platform in which Reliance holds an investment.
Online bond platform companies set up industry body
The executive committee of the new body – called the OBPP Association of India – was formalized at a meeting on May 28 at the NSE’s office in Mumbai, with more than 20 of the 27 licensed OBPPs in attendance, the association said in a statement.
Reliance Retail plans 30-minute delivery model for quick commerce re-entry
Reliance Retail is re-entering the quick commerce market with a 30-minute delivery model, focusing on a wider assortment of products than existing players like Blinkit and Zepto. They will leverage their network of stores and kiranas, connected through the JioMart Partner initiative, for product sourcing. Unlike competitors, Reliance will not set up dark stores for under-ten-minute delivery but will optimize delivery routes using tech platforms like FYND and Locus. The venture will start with groceries and expand to apparel and electronics, utilizing the 19,000-plus store network.
Next disruption? Reliance’s JioMart to enter quick commerce space to take on Blinkit, Zepto and others
Reliance Industries, led by Mukesh Ambani, plans to enter India's quick commerce sector, aiming to compete with Blinkit, BigBasket, Instamart, and Zepto. Initially targeting 7-8 cities, JioMart aims to expand to over 1,000 cities. Unlike rivals, it will leverage Reliance Retail's network instead of dark stores. Goldman Sachs estimates the online grocery market at $11 billion, with quick commerce accounting for $5 billion, possibly affecting kirana store sales.
Post-pandemic, Indians shopped...till they dropped (in FY24)
Pent-up demand post-Covid led to booming sales in athleisure wear and lifestyle products. Kumar Rajagopalan notes the unsustainable high growth post-pandemic and the impact on consumer spending.
Reliance Retail partners with UK-based fashion retailer ASOS
India's largest retailer, Reliance Retail, has signed a long-term licensing agreement with UK's leading online fashion retailer ASOS, bringing the brand to India. Reliance Retail will be the exclusive retail partner for ASOS across all online and offline channels in India, introducing its curated portfolio of fashion-led own brand labels through a multi-channel presence and diverse retail formats.
Why touchy-feely consumerism is here to stay and also thrive
The surge in e-commerce once signaled the demise of brick-and-mortar stores, but a notable shift is occurring as D2C companies expand offline. The trend extends beyond smartphones to FMCG and banking, with consumers favoring physical stores for premium items. Retailers are adapting by enhancing store sizes to provide immersive shopping experiences.
Behind ghost shopping malls, a new consumer trend glimmers
Ghost shopping malls with a vacancy rate of 40% or higher in 2023 are on the rise, with a 59% year-on-year increase in top 8 metros, resulting in 13.3 million sqft of retail space remaining vacant. The loss in value amounts to $800 million. High-grade malls are thriving due to premiumisation and a focus on consumer experience, leading to larger store sizes and better shopping experiences. New factory outlet malls are also set to surge in India.
A big consumer tide is coming to India. Who all will rise?
India is poised to become the world's third-largest consumer market by 2026, surpassing Germany and Japan. UBS forecasts a doubling of affluent individuals with annual incomes exceeding $10,000 to 88 million by 2028. Household spending per capita in India is projected to outstrip other Asian economies, with rural and urban consumption expenditures witnessing significant growth over the past decade, according to recent reports.
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