Prestige Estates Projects (PEPL), one of India’s top five real estate developers, is looking to offer more entertainment and dining spaces in malls while cutting back on apparel retailers. 40% of mall space is targeted towards entertainment and restaurants vs 15-20% currently. Company operates four malls at present. By 2030, it plans to grow to … Read more
Reliance Retail Ventures Limited (RRVL) is acquiring 100% of METRO India. METRO India started operations in India in 2003 as the first company to introduce cash-and-carry business format in the country. It currently operates 31 large format stores across 21 cities with about 3,500 employees. The business claims to have over 3 mn B2B customers … Read more
Value merchandise retailer, V-Mart has announced acquisition of once fancied ecommerce start-up Limeroad on a slump sale basis. Total consideration is Rs 67 crore Rs 31 crore cash payout Rs 36 crore liabilities takeover Limeroad will operate as a separate business unit under V-Mart and will continue to be run by the existing key team … Read more
Nykaa, started as an online beauty retailing venture has plans to go aggressive on the offline ramp-up. It targets to reach 300 stores across 100 cities as against 84 stores across 40 cities currently. The Promoter CEO, Ms Falguni Nayar, however, declined to provide any specific timelines to achieve this target. It’s interesting that initially … Read more
It’s an important piece of news (Link to the original news article). As per the news article, JioMart has been increasing it’s distribution play to local retailers (also known as kirana, mom and pop stores) primarily based on the lower pricing. Given the bulk buying by Reliance, traditional distributors are unable to match the pricing … Read more
Shoppers can expect more discounts in stores in the coming months because of the supply chain crisis. BMO analysts said delays mean items could arrive too late for the holidays and then be marked down. Retailers are also over-ordering items to avoid shortages, which could lead to leftover stock. The supply chain crisis might stop … Read more