With over 63 new stores opening in the region, North led the charge
IndiaRetailing Insights: Retail store launches in May 2024 stood at over 162, according to the data compiled by IndiaRetailing Insights, a retail intelligence unit.
Region-wise
With over 63 new stores opening in the region, North led the charge. South saw the addition of 51 stores, whereas the West and East saw 37 and 15 new stores open in May, respectively.
The stores are in Mumbai, Bengaluru, Jammu and Kashmir, Manali, Pune, Noida, Chennai, Agra, Kolkata, Palwal, Delhi, Raipur, Surat, Jaipur, Hisar, Secundrabad, Thiruvananthapuram, Gurugram, Hyderabad, Vadodara, Indore, Hanumangarh, Lucknow, Tiruppur, Gwalior, Patna, Cuddalore, Faridabad, Mansoorupur, Jamshedpur, Ashok Nagar, Mysore, Udaipur, Jalandhar, Nallagandla, Kangra, Kolhapur, Saharanpur, Vrindavan, Khan Market, Behala, Howrah, Udupi, Bareilly, Visakhapatnam, Chandigarh, Rourkela, Kharghar, Jehanabad, Ranchi, Kashipur, Harlur and Raebareli and other towns.
Standout trend
A trend that has emerged in the last couple of months is that brands opt to open new mall stores. This was the case in May when over 60 stores opened in different malls compared to standalone stores and other places like airports and railway stations.
Active brands
The brands that opened outlets in May include Hermès International, The Body Shop, Starbucks, Naturals- Star Secret, Burger King, Armani Exchange, Kazo, Apple, Croma, Manyavar, Hongs Kitchen, Reid & Taylor, NewU, Sketchers, Dobaraa, Being Human, Baby Forest Ayurveda, Tim Hortons, Campus, Pantaloons, Samsonite, New Balance, The Souled Store, McDonald’s, Haldoram, Chinese Wok, Miniso, Abcoffee, Wow Kulfi, Wow! Momo, Wow! China, Barista Diner, The Belgian Waffle Co., Lavie, Ilem, Chilli’s Grill and Bar, Decathlon, Trends Footwear, The London Burgers Co., Pizza Express, GIVA, Birkenstock, BlueStone, Snitch, Inc5, Third Wave Coffee, Avantra, Sabhyata, Arrow, Bikanerwala, Pret A Manger, V2 Retail, Mothercare, Helvetica, Bugatti, Turtle, Purplle, Lenscrafters, House of Fett, Market99, Dior, Yousta, Red Chief, Nestatia, Chicago Pizza, Cocoart & Cafe, TimeVallee, Hush Puppies, The Sleep Company, Hamleys, Dayal Opticals, California Burrito, House of Masaba, Curefit, Asics, Rollarappa, Casa Dona, Wendy’s, Beaute & Nutrie, Levi’s, Elementary, Jockey, Swiss Beauty, Peora, Tanishq, Taniera, Fastrack, Helios, Be U Natural Salon, The Kaisang Restaurant, Mr. Diy, Pigeon, New me, Vedix, Go PIzza India, KFC, Biggies Burger, Red Chief and others.
An analysis of the data revealed that key players fared well in May 2024. For instance, Starbucks, Reid and Taylor, Croma, Being Human, Campus, McDonald’s, Haldiram, The New Shop, Chinese Wok, Miniso, ab coffee, Wow! Kulfi, Wow! Momo, Wow! China, The Belgian Waffle Co., Bluestone, Snitch, INC5, Sabhyata, Bikanerwala, LensCrafters, Market 99, The Sleep Company, Curefit, Mr DIY and Biggies Burger have all opened multiple stores in the month.
Key Developments
Other key developments include Asia’s largest fashion brand Uniqlo has announced its intentions to double its store count in India in the next three years. Furthermore, real estate giant DLF plans to build a Khan Market-style plaza in Gurugram, eyeing to make it one of the major retail destinations of the NCR region.
On the technology side, Internet major Google has proposed an investment in e-commerce major Flipkart to buy a minority stake during the company’s fresh funding round.
Performance wise
The list of top gainers among companies that announced their financial reports includes Honasa Consumer, Nykaa, Jubilant Foodworks, Whirlpool, LT Foods, DLF Ltd., Anarock, Kalyan Jewellers, Avenue Supermarts, Blue Dart Express and Adani Wilmar.
Others who did not perform well as compared to the previous quarter included Bata India, Aditya Birla Fashion and Retail Ltd. (ABFRL), Paytm, Whirlpool of India and Delhivery.
Funds raised
In May 2024, D2C brands, retailers, and logistics companies like Technosport, WHP Jewellers, Libas, Freshleaf, Betel Leaf, Icon, Fresh From Farm, and Skippi cumulatively raised a sum of over Rs 437.68 crore.
