Megamart news and archive

Arvind shuts 30 Megamart stores while restructuring

In a move to restructure its strategy for Megamart retail chain, Arvind has shut around 30 loss making outlets in October-December. In another few years, it will shut 50 loss making outlets. Arvind has about 95 company stores which are operational. The company has created a new value department chain called Unlimited which has been done after...

Retail

Factory outlets suffer as consumers turn to online shopping

It’s a known fact now that physical retailers have been bearing the brunt of discounting strategies of online players. Now, even discounted factory outlets are seeing their customers move away owing to a wide branded selection at steep discounts offered by the ecommerce companies. Megamart from Arvind Brands, known as discount store earlier, has...

Retail

Arvind rebrands 25 Megamart stores as ‘Unlimited’

Textiles major Arvind, which is now focusing on its brands and retail business for growth is trimming Megamart stores under the new brand identity, 'Unlimited'. The Ahmedabad-based firm has so far rebranded around 25 Megamart stores spread over 10,000 square foot each as ‘Unlimited’. Arvind plans to retail premium brands under its fold such as...

Apparel

Megamart eyes rapid retail expansion

Megamart apparel retail store under the Arvind Group plans to open 40 more outlets across India, including 10 in Tamil Nadu. The new Megamart stores will offer a wide range of international and domestic brands of men’s wear, women’s wear, kids wear, home décor, luggage and accessories. The new stores will come up at Vellore, Kollatur (Chennai),...

Apparel

FBB ropes in Shikhar Dhawan, will focus on smaller stores

With the aim of boosting its fashion business, Fashion Big Bazaar (FBB) has signed cricketing sensation Shikhar Dhawan for a new campaign. The campaign under Kishore Biyani's flagship clothing brand will replace the earlier, ‘Desh badla, bhesh badlo’ (new attire for a new nation) campaign featuring cricketer M S Dhoni and actor Asin. The new...

Apparel

Megamart drops discount tag

Megamart, the Rs 540 crores retail chain, part of the textile and apparel major Arvind is planning to change its business model by dropping the discount tag. The chain is now also on an expansion spree with 10 new stores coming up in the next three-four months. The Bangalore-headquartered retail chain witnessed a lull in its business in the...

Fashion

Cherokee aims to cross Rs 100 cr mark this fiscal

Cherokee the brand for a whole range of men’s, women’s, kids’ apparels and non-apparels like luggage, home, men’s accessories and ladies handbags, recorded a sales turnover of Rs 80 crores in India last year. Commenting on the target for Cherokee, Venkatachalapathy K E, CEO, Arvind Retail, says, “It will cross the Rs 100 crores mark this fiscal...

Fashion

After deep discount, value retail the new success mantra

Sanjay Lalbhai’s Megamart, an apparel company owned by Arvind has dropped its discount tag to focus on value retailing concept. This, after it witnessed a drop in profit margins owing to the excise duty imposed on branded garments in 2011 Union Budget. Moreover it also wanted to change peoples’ perception that discount stores sell old stocks at...

Apparel

Megamart drops discount tag owing to tax burden

Sanjay Lalbhai’s Megamart, an apparel company owned by Arvind is dropping its discount strategy following a drop in profit margins owing to the excise duty. While, other deep discount chains, including The Loot, Koutons, Cantabil and Priknit struggle to remain aflot with a 12 per cent excise duty tax announced in FY-11 by Union Budget, low...

Apparel

Megamart in Hyderabad

Megamart, a branded apparel manufacturer and retail chain, and part of Arvind Group, has launched a fashion store in Chikkadpally area of Hyderabad. The store is spread over an area of 20,000 sq. ft. and offers over 100 Indian and international brands with its proposition of ‘mega savings and offers’ throughout the year. The store has been...

Apparel

Megamart to reposition as family stores

Megamart, the multi-brand retail chain of stores from integrated textile and apparel maker Arvind has decided to reposition itself as family store by investing Rs 50 crores on expansion this year. The decision was taken after many women’s and kid’s apparel brands began occupying their store shelves. Currently, its 225 stores are operated in two...

Fashion

Cherokee: To relaunch infant line, spread to smaller cities

Cherokee, the American lifestyle brand offering casual and comfortable clothing for the entire family and home is planning to relaunch its infant line. The brand that is retailed in India by Arvind Retail through Megamart stores only is also looking at accelerating its growth rate. Internationally Cherokee Inc. owned and represented brands...