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Tata Group's Zudio Set for Aggressive Expansion
Tata Group's Zudio, a leading affordable fashion brand, has announced ambitious expansion plans for the fiscal year 2024-25, defying the current trend of retail and restaurant slowdown. Despite the challenging market, Zudio aims to open 150-200 new stores, significantly expanding its presence. This growth follows the addition of over 100 stores in the current fiscal year, with plans to reach nearly 500 outlets by March 2024.
The brand, which started within Tata’s supermarket chain and department stores, has become a key player in Trent Ltd.'s portfolio, contributing to its revenue surge to Rs 8,000 crore in 2022-23. Zudio offers a range of apparel and beauty products, predominantly priced below Rs 1,000, and is part of Tata's broader retail operation that includes Westside and Landmark bookstores, as well as partnerships with Zara and Massimo Dutti. With this expansion, Zudio is poised to become a billion-dollar brand, targeting a CAGR of over 25% and an EBIDTA margin of more than 10 per cent.
Shopper’s Stop Unveils Flagship SS Beauty Store at Bengaluru Airport,
Shopper’s Stop Ltd. has inaugurated a new SS Beauty store at Terminal 2 of Kempegowda International Airport in Bengaluru. This launch, announced by Chief Business Development Officer Deepak Yadav, marks a significant expansion in the company's beauty segment. The store, one of the largest SS Beauty outlets, offers a variety of premium and luxury beauty brands. Shoppers Stop won the 1,300 sq. ft. retail space in June 2022, outbidding major competitors like Reliance Retail, Tata Group’s Tata Cliq, and Nykaa. The company, founded in 1991, operates over 140 beauty stores nationwide, featuring well-known brands such as MAC, Estée Lauder, and Clinique. Besides its extensive beauty portfolio, Shoppers Stop is known for its private apparel brands. As part of its growth strategy, the company aims to open 15-20 new beauty stores annually, focusing on both SS Beauty and other mono brands.
Flourish by Gunjan Jain Unveils Second Store in Mumbai,
Flourish by Gunjan Jain" is a luxurious jewellery brand in India, known for its sustainable demi-fine jewellery crafted from precious and semi-precious lab-grown gemstones. After opening its first store in Kolkata in 2022, the brand is now launching its second store in Mumbai, located on Bandra’s Waterfield Road. The 450 sq. ft. House of Flourish will showcase jewellery made of 18k Gold and Sterling Silver, adorned with synthetic emeralds, solitaires, Cubic Zirconia, Swarovski stones, and Moissanites.
The brand targets sophisticated, well-traveled women and offers a range of pieces, from the Signature Bow and Emerald Collection to Stunning Solitaires and custom pieces. It also includes the Baby Bow Collection for children and lapel-pins and brooches for men, reflecting its commitment to gender-neutral fashion. Prices range from INR 5,000 to INR 150,000, appealing to a broad customer base seeking eco-friendly luxury.
Flourish by Gunjan Jain, established in 2021, emphasizes craftsmanship, using international quality gemstones in its collections of Couture, Pret, and Luxe jewellery. It aims to provide accessible, wearable, and fuss-free glamour pieces for its unique and autonomous consumers. The brand, which also has a strong digital presence, plans to go international next year. Celebrities like Isabelle Kaif and Genelia D’Souza have adorned its jewellery.
Lenskart opens two stores in Saudi Arabia
Lenskart has expanded its footprint to the Middle East, with two new stores in Saudi Arabia’s capital Riyadh.
A company official recently announced on social media that a new outlet has been opened at Salaam Mall, Alawali. Mahmoud Elfeky, the Associate Vice President of Retail at Lenskart, shared this news in a LinkedIn post, along with images of the new store. The opening of these two stores signify a significant expansion in their commitment to serving customers in Saudi Arabia. Elfeky expressed gratitude towards everyone who contributed to this success.
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