Raymond Lifestyle plans 900 new stores in 3 years targeting 12-15% sales growth
Author : PNT Bureau
Raymond Lifestyle, the demerged entity from Raymond, plans to open 900 stores in the next three years, targeting 12-15% annual sales growth and an 18-20% increase in operating profit. The company, set to list on September 5, aims to unlock shareholder value by focusing on the lifestyle segment, driven by a professional management team. Last year, Raymond Lifestyle invested INR 100 crore to boost capacity and plans another INR 100 crore investment this financial year. The company reported FY2024 revenue of INR 6,691 crore, with a 16.3% EBITDA margin and a net cash surplus of INR 227 crore....
Royal Orchid hotels targets 200 properties by 2027 with 35 new openings this year
Author : PNT Bureau
Royal Orchid Hotels Ltd. plans to expand its portfolio to 200 properties by FY27, focusing on tier-two and tier-three cities across India to capitalise on the growing domestic travel demand. The company, currently operating over 107 locations, will open 35 new hotels this year, with 30 in smaller cities. Despite a 19% drop in profit after tax to INR 8.72 crore and rising costs, total income rose by 5.34% to INR 77.66 crore. The expansion aligns with India's strong GDP growth and increasing local tourism, positioning Royal Orchid for future growth in the evolving hospitality sector....
BigBasket to transition fully to quick commerce amid growing demand for speedy deliveries
Author : PNT Bureau
BigBasket, the top online grocery store in India, is changing into a full-fledged platform for fast commerce, with an exclusive emphasis on delivery made in 10 to 30 minutes via its BB Now service. This strategic move, which accounts for more than 50% of the company's sales, indicates the increasing desire for deliveries that happen more quickly. BigBasket, which was established in 2011, is eschewing its conventional slotted delivery methodology in order to maintain its competitiveness in the rapidly changing e-commerce market. The move, which represents a substantial shift in the company's business strategy, will be finished in the upcoming weeks, according to founders Hari Menon and Vipul Parekh....
Godrej Interio targets 20% growth with 104 new stores and enhanced digital presence in FY25
Author : PNT Bureau
Godrej Interio, a leading home and office furniture brand under the Godrej & Boyce, plans to open 104 new stores and add over 2 lakh sq ft of retail space in the year 2025, aiming for a 20% growth. With 900 stores across 600+ cities, the company is set to surpass 1,000 stores in August 2024. The expansion includes 34 new stores in the North, 24 in the West, 19 in the South, and 27 in the East. Additionally, Godrej Interio continues to enhance its digital presence, with its e-commerce platform now serving over approximately 17,000 pin codes nationwide....
Trent's Star Bazaar aims for 90 stores by the end of 2024
Author : PNT Bureau
Retail giant Trent is rapidly growing its Star Bazaar chain. In the first quarter of FY25, the number of supermarkets increased from 66 to 72. The chain plans to add 20-25 new stores in FY25, aiming to reach about 90 stores by the end of the year. This follows a previous financial year where they ended with 66 supermarkets. This expansion is part of Trent's strategy to make Star Bazaar a key growth driver, alongside Zudio and Westside. By FY26, Trent hopes to have 110-120 stores across 15-20 cities. The plan focuses on increasing store numbers, making prices more affordable, and boosting private-label products....
Decathlon plans major India expansion with EUR 100 million investment over five years
Author : PNT Bureau
French sporting goods company Decathlon has announced a significant investment of EUR 100 million (approximately INR 933 crore) in India over the next five years. The company aims to double its current revenue of around INR 4,000 crore in the country during this period. Decathlon plans to expand its retail presence, strengthen its omnichannel strategy, and increase local production as part of its "Make in India" initiative. The investment reflects Decathlon's confidence in India's potential as a global manufacturing and innovation hub for the brand, with the goal of nurturing local talent and contributing to the country's journey towards becoming a sporting powerhouse....
Brigade Group and Accor launch their second hotel Ibis Styles in Mysuru
Author : PNT Bureau
Brigade Group and Accor have launched ibis Styles Mysuru, marking their second hotel in Mysuru and the fourth project from their ongoing partnership. This hotel is Brigade Group's 27th project in Mysuru and their 9th hotel in India with global brands. Located on KRS Road, the hotel blends contemporary design with local cultural elements, inspired by the nearby Ranganathittu Bird Sanctuary. Building on the success of their first Mysuru property, Grand Mercure Mysuru, this launch enhances their presence in India's hospitality sector. ibis Styles Mysuru offers 130 rooms, including 30 suites with small kitchens and private balconies, plus dining options, a pool, fitness centre, and event spaces....
Limited hotel openings and rising demand keep room rates elevated in India
Author : PNT Bureau
Hotel room rates in India are set to remain elevated due to a slow 1.4% growth in supply, with the total number of rooms reaching 191,000 by June 2024. Major cities like Delhi, Mumbai, and Bengaluru saw only a 0.6% increase in room availability, while strong domestic demand continues to drive up occupancy rates. As the peak travel season approaches, industry experts anticipate further rate hikes, particularly in luxury segments, amid a forecasted 10% growth in hotel room demand, outpacing the expected 8% annual increase in supply until 2027....
Reliance Industries invests INR 14,839 crore in retail arm
Author : PNT Bureau
Reliance Industries injected INR 14,839 crore into Reliance Retail as debt during the last fiscal year, marking the largest capital infusion from the parent company in a decade. This funding supports the retail giant's expansion into smaller towns and new store formats, with a total investment of INR 19,170 crore in FY24. Reliance Retail also accelerated loan repayments, cutting non-current bank borrowings by 30% to INR 13,382 crore, signaling a cleanup of its balance sheet. Despite increased debt, the company continues to strengthen its retail presence, potentially paving the way for an IPO....
Madison platform to invest USD 200 million in 25 mid-market luxury hotels across India
Author : PNT Bureau
Hyderabad-based JV Ventures and Terminus Group have launched Madison, a USD 200 million platform to develop 25 mid-market luxury hotels across Indian cities, including Thiruvananthapuram, Visakhapatnam, Tirupati, and Hyderabad. Over the next five years, Madison will create over 3,000 rooms, with a focus on reducing seasonal risks in the hospitality sector. The initiative aligns with the growing Indian hospitality market, which saw a 19% increase in first-time hotel investments in 2023 and an 11.4% rise in RevPAR in Q1 2024, indicating strong future growth....
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