Representative Image Mumbai | New Delhi: Large Indian retailers are starting to shun discounts and have fewer product price markdowns online. The shift in strategy at retail chains such as Shoppers Stop, Arvind Fashions, Aditya Birla Fashion and Retail and Lifestyle tracks their inability to reboot sales online sufficiently despite running persistent discounts including the…
Mumbai: Tata-owned Trent managing director P Venkatesalu said the company was not perturbed by the growing competition in the retailing space and had no plan to change its strategy. Chinese online fast fashion brand Shein re-entered the India market earlier this month almost five years after its ban through the country’s leading retailer Reliance Retail….
Representative Image The slowdown in demand for clothing and lifestyle products like televisions and smartphones, which brands initially believed was a temporary blip, is persisting even after two years. Companies now say predicting a revival timeline is difficult as aggressive discounting strategies, including early end-of-season and Republic Day sales, have failed to boost demand. With…
Demand for premium products — from groceries and spirits to clothing and shoes — has bucked the slowdown trend, especially in the cities, amid a cutback in mass-priced segments due to inflation. The likes of Hindustan Unilever (HUL), Diageo India, Shoppers Stop, Reliance Retail and Metro Brands said consumers may be truncating shopping lists of…
Mumbai: India’s retail market remained topsy-turvy last quarter despite a robust festive season as demand slowed after Diwali amid persistent inflation, according to Shoppers Stop. the country’s oldest department store chain. “In an informal discussion with other peer members, there was a unanimous view that the last quarter was lower than expectations, particularly considering the…
New Delhi: Retail chain Shoppers Stop on Tuesday reported a consolidated net loss of Rs 20.59 crore in the second quarter ended September 30, 2024 on account of muted demand. The company had posted a net profit of Rs 2.73 crore in the July-September period a year ago, according to a regulatory filing from Shoppers…
Representative Image Encouraged by the runaway success of its apparel brand Zudio, which marries style with low price, Tata Group company Trent has now launched Zudio Beauty. The first store has opened in Bengaluru and Trent is planning to add more in top cities such as Gurugram, Pune and Hyderabad. Zudio Beauty is part of…
New Delhi: Noel Tata-led Trent is launching its value fashion brand Zudio in Dubai next month, the retailer’s maiden attempt to enter the overseas market to cash in on the large Indian diaspora. The first Zudio store in Dubai will be located in Silicon Oasis Mall. The Zudio format now contributes more than a third…
Jiten Mahendra Omni-channel fashion and lifestyle retailer Shoppers Stop has appointed Jiten Mahendra as its new chief marketing and communication officer and customer care associate. He confirmed the news in a LinkedIn post. Mahendra posted, “I’m happy to share that I’m starting a new position as a customer care associate and chief marketing officer at…
Indian clothing retailer Arvind posted a 40% fall in its first-quarter profit, as inflationary pressures weighed on consumer spending on apparels despite discounts. The company, which sells international brands like Tommy Hilfiger, Arrow and Calvin Klein, said its consolidated net profit fell to 393.1 million rupees ($4.7 million) from 658.7 million rupees a year earlier….
