STORE EXPANSION PLANS
Malabar Gold & Diamonds strengthens its presence in the UK
Malabar Gold & Diamonds has inaugurated its second UK store in Leicester on Belgrave Road's Golden Mile. The 2,000 sq. ft showroom features over 20,000 jewellery designs catering to various needs. Chairman M P Ahammed lauded customer trust during their UK expansion, with future stores planned for Southall, Wembley, Birmingham, and Manchester. Vice Chairman Abdul Salam K.P emphasized sustainability, using LBMA-certified bullion and conflict-free diamonds.
Malabar Gold opens 2nd store in UK, eyes further expansion
Malabar Gold & Diamonds, the world's sixth-largest jewellery retailer, opened its second UK showroom in Leicester on Thursday. This new 2,000-square-foot store is on Belgrave Road's Golden Mile. The inauguration was done by Leicester City Mayor Peter Soulsby. The store features over 20,000 jewellery designs from 20 countries. It caters to various wear categories, including bridal and office, the company said in a statement.
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.
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.
Premium luggage maker Eume raises Rs 15 crore in funding round led by Ashish Kacholia
Eume plans to open its first flagship store this year, starting in Mumbai and tapping the aspirational population in tier II and III cities are among the company's top priorities. The Mumbai-based luxury brand offer diverse products like luggage, vegan handbags, and accessories, among others. Eume's sales are split equally between its own website and marketplaces.
Titan lines up aggressive expansion plans for Tanishq, Taneira, other brands this year, says MD
Venkataraman was talking to reporters after unveiling one of the company's Helios watch stores along with the 59th jewellery store Tanishq and the 7th Taniera store at Pondy Bazaar, in Chennai. Taniera offers the best of Indian sarees under one roof. It offers handcrafted sarees along with a range of ready to wear blouses, kurtas, short tops among others, the press release said. The launch of the new brand outlets today marks a significant milestone in Titan's ongoing commitment towards aggressive retail expansion in FY24-25, particularly in Tier I, II and III geographies.
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Third Wave Coffee will add over 50 stores, expand to new cities: CEO Rajat Luthra
Third Wave Coffee, backed by Westbridge Capital, plans to open 50 new stores in existing markets like Bengaluru, Delhi-NCR, Mumbai, and Hyderabad, with a focus on Chennai, as stated by new CEO Rajat Luthra. The expansion comes as new-age coffee brands such as Blue Tokai, Subko Coffee and AbCoffee have seen a rush of venture capital.
Ice cream nightmare highlights quick commerce's food safety issues
Food safety has become a concern in terms of quick commerce in recent weeks as a Mumbai customer found a human finger in Yummo brand ice-cream from Zepto. Walko Foods, the owner of Yummo, took the incident seriously and halted manufacturing at the third-party facility. A Blinkit facility in Hyderabad was also raided by food safety authorities.
Dollar Industries sets sights on southern expansion with 50 new outlets
Under its 'Vision South India' initiative, Dollar Industries anticipates a 50-per cent surge in sales from markets in that region compared to the current year, officials said.
Domino's aims to double store count to 4,000 in India in 5-6 years
Domino's, the renowned American pizza chain, is poised to double its store count in India to 4,000 within the next 5-6 years. With the recent inauguration of its 2,000th store in India, Domino's has solidified its position as a major player in the Indian market, ranking second globally in operational stores and among the top five in revenue.
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.
Ethnic fashion brand Libas raises Rs 150 crore from ICICI Venture
Libas started going offline about 18 months ago and operates 15 store across the country. It plans to open 200 stores by 2026. “The organised Indian apparel sector is expected to grow significantly in coming years and this investment will fuel expansion across categories, and geographies with a strong focus on omnichannel experience,” said Sidhant Keshwani, founder and CEO of Libas.
Planning to expand to markets such as Pune and Delhi: House of Biryan
With a goal of reaching 45 stores by December 2025, House of Biryan targets revenues exceeding Rs 100 crore and aims to serve over 4,00,000 new customers. CEO Mohammed Bhol emphasizes product freshness and customization as key differentiators in the crowded biryani market.
Online eats into offline; Agnikul defers rocket launch
The rapid adoption of quick commerce and food delivery apps is eating into the sales of retail, and quick service restaurants. This and more in today’s ETtech Top 5.
Amazon in talks with Italy to invest billions in cloud plan
Amazon's AWS in talks with Italy to invest billions in expanding data centre business, boosting cloud offer in Europe.
Indya and FabAlley's parent co raises Rs 50 crore from investors led by Sangita Jindal
High Street Essentials (HSE), the parent company of women’s fashion brands Indya and FabAlley, secures Rs 50 crore in funding led by Sangita Jindal of JSW Foundation. This investment will fuel Indya's expansion in the occasion wear and wedding market, leveraging strategic designer collaborations and global expansion plans. The company aims to open 10 new wedding stores this year and expand its international retail presence.
Starbucks’ FY24 losses widen to Rs 81.84 crore for India operations
Of its total loss, Tata Consumer bore Rs 40.91 crore. This is a significant increase compared to the previous year, when Starbucks reported a loss of Rs 24.97 crore on sales of Rs 1086.89 crore.
Offline stores are trending as new set of D2C firms emerge
Investors and startup founders are noticing a trend: D2C businesses across various sectors, like fashion, electronics, and food and beverage, are opening physical stores (going offline) even after their initial funding round.
Roadblocks for q-commerce; Mizuho InCred deal
Happy Friday! As quick commerce platforms diversify, they are likely to face operational challenges. More on this in today’s ETtech Morning Dispatch.
Vodafone Idea plans to open more retail outlets: Executive
Empowered by a recent infusion of equity funding, Vodafone Idea (Vi) aims to expand its network of retail outlets throughout this fiscal year. This strategic move is designed to bolster sales and enhance customer loyalty, essential for the financially constrained telecom operator to heighten its competitive stance against formidable adversaries like Reliance Jio and Bharti Airtel.
Fashion brand Beyoung enters physical retailing, eyes 300 stores
Beyoung expands offline with first store in Bhilwara, Rajasthan, aiming for 300 outlets to increase GMV. H&M, Puma lead online sales. D2C market to hit $100 billion by 2025. Mandar Dandekar emphasizes omnichannel strategy. Phygital Retail Convention in Mumbai discusses D2C brand growth.
Zomato Q4 earnings; Blinkit edges closer to profitability
Food delivery major Zomato reported a lower-than-expected quarterly profit of Rs 175 crore on Monday. Details on this and more in today’s ETtech Top 5.
Blinkit turns adjusted Ebitda positive in March; eyes 1,000 dark stores by FY25 end
Blinkit, a quick-commerce platform owned by Zomato, is on the path to profitability. The company achieved positive adjusted Ebitda for the first time in March.
Blinkit turns adjusted EBITDA positive in March as co aggressively bets on store expansion
The company highlighted that one of the key vectors for growth for the business will come through the store expansion. In the fourth quarter, it added 75 net new stores taking the total store count to 526.
Radhakishan Damani’s DMart buys land in Mumbai’s Chandivali for Rs 117 cr
The billionaire Radhakishan Damani-promoted company has paid a stamp duty of Rs 7.03 crore for the transaction that was registered on May 6, according to documents accessed through real estate data analysis platform CRE Matrix.
Kisanserv announces plans to open 250 new omni channel retail stores in Pune, Mumbai
Kisanserv says its unique selling proposition (USP) remains in providing its customers with fresh, premium-packed fruits and vegetables at 15–25% lower prices than the market.
A year on, Apple’s India stores emerge among its best globally
Apple's two company-owned stores in India have achieved significant revenue, each generating between Rs 190-210 crore last fiscal year. The stores, located in Mumbai and New Delhi, have consistently achieved monthly sales of Rs 16-17 crore each since their launch. Apple is now aggressively looking for space to open three more company-owned stores in Pune, Bengaluru, and Noida. The stores have become popular destinations for customers to experience Apple products and receive expert advice, contributing to the company's growth in India's smartphone market.
DLF to invest Rs 2,200 cr to build shopping mall in Gurugram
At present, DLF has a retail footprint of around 42 lakh square feet comprising nine properties, including malls and shopping centres, mainly across Delhi-NCR. Around 3.4 lakh square feet of retail portfolio is under DLF Ltd and the rest under the DLF Cyber City Developers Ltd (DCCDL), a joint venture between DLF and Singapore sovereign wealth fund GIC.
Workforce attrition in restaurant sector at three-year high amid expansion
Investment and funding have picked up in recent months, with new local entrants and global chains driven by India’s young population, among other factors, adding to new work opportunities and hence, faster churn, as workers are switching jobs even for modest package increases.
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