Victoria's Secret faced a major security incident. The company closed its U.S. website and certain in-store services. This action was a precaution. The firm is working to restore operations quickly. Third-party experts are helping with the investigation. The incident caused a drop in company shares. Physical stores remain open. The company prioritizes secure operations during the probe.
Malabar Gold & Diamonds is considering entering the lab-grown diamond market with a distinct brand. The company adapts to rising gold prices by offering affordable jewelry. Despite price sensitivity, Malabar expands with 50 new stores in India. The group has also allocated Rs 150 crore to CSR, including its 'Hunger Free World' project. G20 Sherpa Amitabh Kant praises Malabar's efforts to address global hunger.
Bata India's operating profit witnessed a 36% decline, reaching Rs 37 crore in the fourth quarter ending March 31, 2025, compared to Rs 58 crore in the previous fiscal year. Revenue from operations slightly decreased to Rs 788 crore. Despite demand challenges, the company focused on volume growth and affordability, recommending a final dividend of Rs 9 per share.
For the latest edition of ETRetail signature Digital Cover - Top Shelf, the Kalyanaraman family - T.S. Kalyanaraman, Managing Director; Rajesh and Ramesh Kalyanaraman, Executive Directors at Kalyan Jewellers, shared their journey from textiles to becoming one of India’s most respected jewellery names.
NEWME has introduced NEWME Zip, a 60-minute fashion delivery service in Bengaluru, following a successful pilot in Delhi-NCR. The brand leverages dark stores and retail outlets, testing in-house riders to enhance delivery. Aiming to expand to Hyderabad and Mumbai, NEWME reported 3x growth last fiscal year and plans to add 10-12 offline stores this year, joining the quick commerce trend.
EUME, a premium travel luggage brand, has secured Rs 25 crore in Series A funding led by Ashish Kacholia. The investment will fuel retail expansion with new flagship stores in Bengaluru, Mumbai, and Hyderabad. EUME plans to double its product range and strengthen its team, marketing, and working capital.
The US retail market is witnessing a silver revolution, as robust sales figures emerge from a recent survey. High profit margins in silver jewellery are attracting the attention of Indian exporters, positioning them to capitalize on this trend. In 2024, retailers are celebrating increased sales and a boost in inventory.
Citykart secured Rs 538 crore in funding from TPG NewQuest and A91 Partners valuing the company at approximately Rs 1,400 crore. Citykart will use Rs 120 crore from the proceeds to expand beyond Uttar Pradesh and Bihar. Investcorp fully exited, while India SME Investments reduced its stake. The company plans to open 40–50 new stores annually.
Bengaluru-based quick-commerce fashion startup Slikk has secured $10 million in Series A funding led by Nexus Venture Partners, with Lightspeed also participating. The company plans to utilize the funds to broaden its offerings into beauty, personal care, accessories, and footwear.
Aditya Birla Fashion and Retail (ABFRL) plans a ₹500 crore capital expenditure in 2025-26, aiming to turnaround loss-making ventures like TCNS Clothing and TMRW. With recent fundraising, ABFRL intends to triple in scale and double profitability in five years, despite current subdued retail sales growth. Excluding TMRW, the group anticipates being EBITDA positive next year.
Titan Co is in advanced discussions to acquire a 72% stake in Damas International, a prominent Gulf jewellery retailer, for approximately Rs 2,500 crore. The Tata group company has commenced due diligence, with the remaining stake held by Mannai Corp. The deal, expected to be finalized in the second quarter of FY26, aims to replicate Titan's successful CaratLane acquisition model.
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