H&M to expand physical stores in India, Retail News, ET Retail

New Delhi: Swedish attire retailer H&M will continue on to grow its bodily retailers in India even though it is closing down 250 retailers globally, betting on the long-expression possible of the nation, according to a senior enterprise official. The enterprise which opened its initially retail store in India in 2015 presently has 48 retailers in 24 metropolitan areas but may perhaps not open as numerous retailers in the future 5 decades as it also focuses on maximizing its digital presence.

“In India we are reasonably compact and there is good possible to grow with bodily retailers as well as digital in long run. So for us bodily retailers remain exceptionally essential and we want to make certain that we have the ideal retailers at the ideal locations also in the long run,” H&M India Place Supervisor Janne Einola explained to .

Previously this thirty day period, the Swedish retailer

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Levi’s, H&M report sharp fall in India Q3 sales as pandemic continues to hurt business, Retail News, ET Retail

MUMBAI: Covid-associated lockdowns and stringent limits right after reopening amid mounting number of bacterial infections have taken a toll on two of the most effective global apparel merchants in India – Levi’s Strauss & Co and Hennes & Mauritz.

Each Levi’s and H&M described a sharp drop in their India revenues for the 3rd quarter, dragging their all round performance in Asia.

H&M posted a 58% drop in its India revenues at Rs 183 crore for the duration of the quarter finished August towards Rs 433 crore a calendar year back when Levi’s stated its business in India declined by $51 million, or Rs 380 crore, in the quarter finished September as several states remained in governing administration mandated lockdown.

“Asia as a area declined forty one%, mainly driven by the truth that India, just one of our largest markets in the area, was properly shut in the whole quarter,”

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Sundeep Chugh, MD & CEO, Benetton India, Retail News, ET Retail

The manner sector has been one of the worst influenced sectors of the Covid-19 pandemic and stores in the state are chalking out various ways to continue to keep their corporations up and managing. But regional lockdowns are building hurdles on their path to restoration. In an interaction with ETRetail’s Varun Jain, Sundeep Chugh, managing director and CEO of Benetton India, talks about the impression of Covid-19 on the business, the state of manner stores, and the methods Benetton is enterprise to occur out of the disaster strongly. Edited excerpts:

How are you coping with the new predicament? How is the business searching?

Items are even now not stabilised. There are lockdowns remaining imposed in various elements of the state. Distinctive constraints are coming time and again throughout various markets. We are having every single day as it arrives. This pandemic has impacted the overall globe in a

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Dean Jones dead: Australian cricket legend suffers heart attack in India

Earth cricket is mourning a single of its fantastic revolutionaries and figures, adhering to the shock dying of Australian fantastic Dean Jones.

The legend of the 1986 tied Test in Madras and a single of the best a single-day global players the recreation has at any time observed, Jones suffered a heart attack in Mumbai, exactly where he was stationed to commentate on the IPL for broadcaster Star Sports.

It is recognized previous star Brett Lee was on the scene and carried out CPR on the fifty nine-12 months-aged, but was not able to conserve Jones’ daily life.

Jones is survived by his wife Jane and two daughters, Phoebe and Isabella.

The television crew doing the job with Jones are recognized to be in a distressed condition adhering to his shock collapse all around the middle of the day in Mumbai, with previous cricket greats Brian Lara, Graeme Swann, Lee

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E-com festive sales in India may hit $7 bn in GMV: RedSeer

Festive revenue by way of e-commerce in India are most likely to access $seven billion in gross products benefit (GMV) this 12 months in contrast to $3.8 billion in the identical period of time past 12 months, in accordance to a report by study company RedSeer, which said e-commerce is envisioned to access $38 billion in revenue in 2020 from $27 billion GMV in 2019 based mostly on the strong festive revenue efficiency.

New searching products are most likely to appear up because of to altering consumer demographic and online video-based mostly and WhatsApp-based mostly searching will be new additions to the festive landscape, the report said.

Offline restoration is, on the other hand, weak as customers are continue to apprehensive about going to higher human touchpoint locations like malls and retail outlets, it said.

“COVID enabled enormous expansion in new shoppers as customers now a lot more than at

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