On a weekday, just weeks before Diwali, Chanakya luxury mall in New Delhi’s diplomatic enclave illustrates the prevailing sentiment. Hardly any customer is seen carrying shopping bags that are common before the biggest festival.
Footfalls at prominent malls take a knock, very few walk-ins get converted to purchases.
Brick-and-mortar retailers and companies are hopeful that this weekend will see a jump in sales as the festive season kicks in. Retailers say the weeks of shopping spree ahead of the festival season has been trimmed down to one weekend.
Talks between Nexus malls and Prestige to merge the mall business in order to create the largest mall operator in the country is in its initial stage. If talks fructify, the combined entity could get enlisted as a real estate investment trust.
Over the years, H&M has been opening one store a month and the world’s number two fashion retailer by sales plans to reach 60 outlets by the end of next year.
Uniqlo, Japan's largest fashion brand, opened its first store in India for public on Friday, offering competition to Spain's Zara and H&M.
Zara seeking reduction in revenue-share deals and either lower or total waiver of common area maintenance (CAM) charges.
US phone-maker said to have leased 25k sq ft space at Maker Maxity mall in the Mumbai hub.
Modi government's ban on single-use plastic will drive up operating costs for food delivery businesses.
This year, several big playing card suppliers and manufacturers from different cities said sales are down up to 40% compared to last year.
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