In terms of fundraising, brands raised or proposed plans to raise amounts over Rs 4,930 crore
IndiaRetailing Insights: More than 60 new stores were rolled out throughout India in July, according to the latest survey by IndiaRetailing Insights, a retail intelligence unit.
The western part of India saw the addition of over 23 new stores, followed by the North with 16 stores, the South – with 13 and the East in the range of 1-5 new stores, The IndiaRetailing monthly store tracker has found. The research is based on the data compiled by IndiaRetailing reports, company information via press releases and social media and other information shared by retail experts and officials.
Brands that opened stores
Brands like Bikanervala, Haldiram’s, Twenty1 Food Court, Go Pizza, Samosa Singh, Mad Over Donuts, Roastea, AbCoffee, Asia Kitchen by Mainland China, Manyavar, Mohey, Bonkers Corner, H&M, United Colors of Benetton, Yousta, Snitch, Being Human, Lacoste, Kingdom of White, Flyrobe, AdilQadri, Wooden street, Ferns N Petals, Miniso, Beyoung, Chanel, Swarovski, Tanishq, Vedix, Maya Medi, Tyaani, RedTape, LimeRoad, Dawatpur, and Malabar Gold have all opened new stores in July.
Among the newly opened stores, the ones that opened multiple stores include fashion and lifestyle brands Snitch, H&M, Tanishq, Malabar Gold and Diamonds, food and beverage brands like Abcoffee, Mad over Donuts and others.
In terms of fundraising, brands, logistic companies and tech service providers like Mode Retails, Fabriclore, Hoop, Scandalous Foods, GOAT, Ninecamp ventures, Frendy, Skininspired, Newme, Charcoal, Nasher Miles, Purplle group, Allcargo Gati and Welspun One have all raised or proposed plans to raise amount over Rs 4,930 crore.
These funds were raised through venture capitalists firms, private equity firms, celebrities and family offices like the PeerCapital, Regal Fabrics, Olympic medalist PV Sindhu, KRS Jamwal, Mrunal Jhaveri, Arjun Vaidya of V3 Ventures, Ajay Mariwala, managing director of VKL and FSIPL, Chef Harpal Singh, BlackRock, Mayfield, NB Ventures, Mohit Gupta, Gaurav Gupta (Former Zomato co-founders), Varun and Ghazal Alagh (Founders, Mama Earth, Honasa), Vikram Chopra, Ruchit Agarwal, Mehul Agrawal, Gajendra Jangid (Founders, Cars 24), Vir Das (Comedian, Actor), Divine (Musician), Atul Singh (Ex-Chairman, Coca-Cola Asia Pacific), Dharmil Sheth (Co-founder, PharmEasy), Utsav Somani (ex AngelList), Ritesh Kumar (Director, DS Group), Aaditya Mittal (Founder, Punnya), UC Inclusive Credit (UCIC), Unitus Capital, Dr Vaidya’s co-founder Arjun Vaidya, Fireside Ventures, AUM Ventures, Anil Sanghvi, Kinetic Group, Singularity Early Opportunities Fund, Narendra Rathi, Mohit Goyal, Abu Dhabi Investment Authority.
Key Developments
In terms of other developments, Reliance Retail is to expand the 7-Eleven convenience store format across India using a cluster approach, while also planning to enhance its global café offerings to cater to affluent young Indians seeking an experiential café culture. The company, already the India partner for over 70 global fashion brands, is focused on this expansion.
Youth fashion brand Bershka is debuting in India in November, marking the third label from Spain’s Inditex to launch in the country, following Zara and Massimo Dutti.
Ikea is planning to open smaller, 25,000 sq. ft. stores in India, a significant reduction in size compared to its existing outlets.
Additionally, the Aditya Birla Group has entered the jewellery market with its new brand, Indriya. Patanjali Foods Ltd announced the acquisition of Patanjali Ayurved’s home and personal care business for ₹1,100 crore, aiming to solidify its position as a leading FMCG company. Furthermore, Metro Brands Ltd. (MBL) is preparing to open its first Foot Locker store in October, further diversifying its retail portfolio.
Account of loss and profit
July, which was also the month of quarterly results saw several companies in the retail industry report profits and losses.
The companies that reported profits include value retail chain V2 Retail, Reliance Retail Ventures Ltd (RRVL), Nestlé India Ltd, Colgate-Palmolive, Bikaji Foods International Ltd and TVS Supply Chain Solutions Ltd.
On the other hand, several companies faced challenges in the same period. Fintech firm One97 Communications, the owner of Paytm, reported a loss of ₹840 crore. Other companies include Shoppers Stop, Mahindra Logistics Ltd. (MLL), Westlife Foodworld and Arvind Ltd.
