Apparel Online India Magazine May 1st Issue 2018 | Page 13

RETAIL CURRENT
UK retail industry hit by bad weather; sales
dive 10.1%
Retail sales in the UK during the
month of March 2018 were badly
hit due to the unfavourable weather
conditions, stated BDO High Street
Sales Tracker in its latest report.
During the period under review, a
10.1% decline in comparable retail
sales was reported. This is worst
figure since November 2008 when
retails sale suffered due to heavy
snowfall and financial crisis in the
region. At one point of time in the
month under review, the comparable
sales declined by approximately
30%, the worst ever drop the
industry has reported so far. Winter
storms took massive toll on physical
retail store sales when the retailers
were expecting consumer’s positive
response with the arrival of fresh
Spring collections.
Mother’s Day, which was in the
second week of the month, brought
a little respite for the industry as it
reported a 2.42% increase in sales.
But, the success did not last long
as the appalling winter weather
kept haunting the sector in the
third and fourth weeks. The third
and fourth weeks also reported a
9.28% and 11.68% decline in in-store
sales, respectively. The reporting
month witnessed a 12.7% decline in
physical store comparable fashion
sales as compared to just 0.8%
decline in the same period a year
ago, the report added. Online retail
sales, however, reported an 11%
increase in comparable sales in
March. Overall, March 2018 reported
the lowest monthly growth since
December 2015 in the UK. BDO
believes that while some consumers
would have shifted their shopping
online as they were unable to get to
stores, many avoided placing online
orders altogether over concerns
that deliveries would not make it
through.
‘Forever New' aims 50 stores in India by end-2019
Australian women’s fashion
apparel and accessories brand,
‘Forever New’ has re-opened
its doors at South City Mall in
Kolkata, recently. The store,
which is the brand’s 33rd
exclusive outlet in India, had to
close down on account of a major
renovation drive launched by the
mall last year. Spanning a retail
space of 1,120 sq. ft., the store
is a perfect reflection of what
the brand stands for – a mix of
glamour and sophistication. Also,
it’s one of a kind with beautiful
imagery and illuminating
signage. Speaking exclusively to
Apparel Online, ‘Forever New’
Country Manager Bishwanath
Ganguly underscored that
Kolkata has definitely been a
very important market for the
brand, so much so that they were
eagerly awaiting the renovation
at South City Mall to get
completed and bring the brand
back after a gap of almost a year.
“This is undoubtedly one of the
most beautiful stores we have in
the country!” he averred.
Notably, besides exclusive stores,
‘Forever New’ also has about 26
shop-in-shops across the country.
Additionally, it is also retailed
online via own e-store and other
leading fashion shopping portals.
Moving ahead, the brand is
planning to open more exclusive
stores this year, as part of its
efforts to consolidate its offline
presence pan-India. “We are
absolutely loving the immense
appreciation and demand for
our products across the country
leading to ‘Forever New’ now
rapidly expanding to 50 stores
nationwide by 2019,” Ganguly
shared with us. Based out of
Melbourne, ‘Forever New’ is
reckoned as one of the fastest
growing Australian brands today.
The brand emerged in late 2006
as a start-up retailer and now
trades over 300 stores across 10
countries. In India, the brand’s
product portfolio comprises
dresses, shirts, coats, bags, shoes
and accessories available at a
starting price of Rs. 1,000 that may
go up to Rs. 10,000.
www.apparelresources.com | MAY 1-15, 2018 | Apparel Online India
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