The fundraising in September went down by 750% to Rs 448 crore
IndiaRetailing Insights: The month of September saw the opening of over 60 new stores by various brands as per data collated by IndiaRetailing. Of these, over 25 new stores opened in the north, 15 in the south, 17 in the west, and between 1-5 in the east.
Fundraising in retail went down by 750% to Rs 448 crore from over Rs 4,000 crore in August—the lowest in the last couple of months, data from IndiaRetailing Insights revealed.
Who opened stores?
In terms of offline retail expansion, brands that opened stores include Starbucks, Haldiram’s, and Cult. Fit, Xero Degrees, Mokobara, Tanishq, Caratlane – A Tanishq Partnership, Mia and Tani shq, Taneira, Titan Eye+, Helios, Cantabil, Zeelab Pharmacy, Zara, Armani/Caffe, P N Rao, Levi’s, Dockers, Baskin Robbins, The Organic World, French Crown, Lenskart, Wooden Street, Läderach, Nilkamal, Kohler, Recode Studios, Nisara, CityKart and Chalu Chinese, Sharief Bhai, Olio Pizza, Nomad Pizza, Arambam
Brands that opened multiple stores as per the analysis include Starbucks, Cantabil, Chalu Chinese, Snitch, Sharief Bhai and CityKart.
“September was a strong month for store expansion across all three brands, aligning with our revenue projections. We have seen consistent month-on-month sales growth, driven by both offline and online channels,” said Vibhanshu Mishra, chief executive officer, of Chaalu Chinese. “The festive season further boosted footfall, especially for Chalu Chinese, with high demand for our festive menus and signature offerings.”
Key Developments
In October 2024, the sector saw several key developments, marked by major acquisitions and market entries. Auréa, the growth capital firm co-founded by Mike Jatania and Paul Raphael, acquired the UK-based personal care brand The Body Shop. France’s Carrefour announced its return to India in a franchisee partnership with Dubai’s Apparel Group, while American footwear brand HeyDude debuted in India in collaboration with Metro Brands Ltd. Additionally, Swiggy moved closer to its IPO, filing updated draft papers to raise Rs 3,750 crore, signalling significant growth in the food delivery space.
On the expansion front, Malabar Gold & Diamonds revealed plans to open 20 new showrooms as part of its global strategy, and Turkey’s Konfor Furniture partnered with Pune-based Creaticity to enter the Indian market. Tata Group’s Zudio continued its international growth, opening its first store in the UAE and planning to launch more across the Middle East. Meanwhile, Reliance Retail teamed up with Israel-based Delta Galil Industries to bring activewear, loungewear, and denim apparel to India. These strategic moves highlight the continued dynamism in the global retail industry.
Fundraise
Several retail and D2C players raised funds to fuel their growth and expansion plans. Nutrabay Retail, a D2C startup specializing in sports nutrition and wellness products, secured funding in a Series A round. Chandigarh-based fashion brand Theater completed a pre-series A round, while Gurugram-based jewellery brand Trisu received its first pre-seed funding. Surat-based healthy foods brand Alpino also raised funds, alongside Fresh produce food tech platform Pluckk, which acquired Upnourish. Homevista Decor & Furnishings expanded with a significant capital infusion and acquired DesignCafe, while sustainable packaging maker Xolopak India secured pre-IPO investments.
The total cumulative funds raised by these companies amounted to over Rs 448 crore, with key investors including RPSG Capital Ventures, Kotak Alternate Asset Managers, Prath Ventures, All In Capital, angel investors, and Bollywood celebrities like Aamir Khan, Ranbir Kapoor, and Karan Johar, along with industry players like JK Tyres and Amaanta Group.
The analysis 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.
