Physical retailers increase investments in fashion business

Not only e-platforms but physical retailers too are focusing on establishing their fashion portfolio. They are making heavy investments on expanding in-house label and revamping stores and marketing. For example, Shoppers Stop saw share of fashion offerings increasing from 6 percent to 16 percent during the third quarter of the current fiscal and at Reliance Retail the share of fashion was 15 percent. Future Group’s fashion and lifestyle division gains the highest revenue on a per square foot basis.

Future Lifestyle Fashion owns and operates about five million square feet of retail space across its fashion formats. It has also been picking up considerable stakes in fashion labels to emerge strong among its rivals. While it recently increased stake in clothing brand Mineral from 22.70 percent to 37 percent, in October last year, the company picked up 60 percent stake in footwear firm Elisir Lifestyle. It has also acquired minority stakes in brands such as Tresmode, Famozi, accessories brand Peperone and Desi Belle. It offers a portfolio of over 40 fashion and lifestyle brands.

Reliance Retail opened doors to 11 Reliance Trend stores during the third quarter and partnered with fashion brands like Cherokee, Juicy Couture and Iconix India brand.