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Retailers Association of India (RAI) has reported 8% increase in retail sales for June 2025 compared to the same month last year, according to its 63rd Retail Business Survey. The survey highlights key trends shaping various retail segments across different regions of the country. The figures suggest that the retail sector gains momentum with June Sales Up 8% YoY.

“Retail sales grew by 7% in May and 8% in June, following nearly a year of 4–5% year-on-year growth. The festive season begins at the end of August, which may influence how demand evolves. Retailers have a sharp focus on the way consumers are buying non-discretionary goods. Non-discretionary spending creates hope for the consumption market.”, said Kumar Rajagopalan, CEO of RAI.

Regional data shows that West India recorded the highest year-on-year growth at 10%. North India recorded a 9% rise followed by South and East India showing a growth of 7% and 4% respectively.

Among categories, apparels and sport goods led with 10% growth each, while consumer durables & electronics (CDIT); jewellery and QSR grew by 9% each.

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Retail sector sees 8% June sales growth; Festive season expected to further boost demand: RAI

Footwear major Bata India reduced its permanent employee headcount by 2.74% year-on-year in fiscal year 2025, bringing the number down to 3,961. In the previous two fiscal years, the company's permanent workforce stood at 4,073 (fiscal year 2023-2024) and 4,421 (fiscal year 2022-203). 

As of 31 March 2025, the total employee count, including workers and other staff, was 9,005--a 9.06% decline year-on-year from 9,903 in FY24.

The company has also implemented a major cut in average salary hikes for staff in FY25 compared to the previous fiscal year.

According to Bata India's annual report, the average salary increase for employees other than managerial personnel was at 4% in FY25, down from 9% in FY24.

<a href="https://cms.storyboard18.com/how-it-works/itc-chairman-sanjiv-puri-draws-rs-26-66-crore-salary-in-fy25-employee-remuneration-up-5-72445.html">ITC Chairman Sanjiv Puri draws Rs 26.66 crore salary in FY25, employee remuneration up 5%</a>

Despite this, the standalone employee benefits expenses increased by 10.3% YoY to Rs 461.6 crore in FY25 compared to Rs 418.2 crore in FY24.

Notably, salaries, wages, bonuses, and gratuity expenses accounted for the rise in employee benefits expenses in FY25. Salaries, wages, and bonus expenses surged to Rs 423.3 crore in FY25 from Rs 382.4 crore in FY24. Bata India's gratuity expenses increased from Rs 5.53 crore in FY24 to Rs 9.21 crore in FY25.

However, when it comes to overall expenses, Bata India slashed it by 2.56% YoY in FY25. The consolidated expenses of the company stood at Rs 764.5 crore in FY25, down from Rs 780.5 crore in FY24. The advertising and sales promotion expenses fell by 10% YoY, dropping from Rs 91.6 crore in FY24 to Rs 82.35 crore in FY25.

Moreover, Bata India's Managing Director and Chief Executive Officer, Gunjan Shah, also saw a reduction in his annual remuneration in fiscal year 2025. Shah's FY25 compensation fell to Rs 4.68 crore, including basic salary of Rs 3.48 crore, compared to Rs 5.53 in FY24, as per the company's document.

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With cost rationalization, Bata India's revenue from operation rose marginally to Rs 3,488 crore in FY25 compared to Rs 3,478.41 crore in FY24. The company's net profit surged to Rs 328 crore in FY25 from Rs 260 crore in previous fiscal year.

"Despite the market headwinds, we witnessed volume-led growth in the last two quarters. Premium products saw bouts of healthy demand, driven by festive, wedding, and winter season sales," Shah said.

On the company's future strategies, he emphasized the investment in new-age digitization initiatives and constant improvement of operational and production efficiencies.

"Inventory tightening, both in terms of quantity and quality, was a key focus area, and we will continue to improve stock turns and forecast accuracy to achieve an optimal level of inventory and reduce clutter at stores," Shah added.

Bata India sees 9% drop in total workforce, trims salary hikes in FY25

Reliance Industries' retail arm has registered a 28.3 percent rise in profit and an 11.3 percent rise in revenue in Quarter 1 fiscal year 2026. During the Q1 earnings of the oil-to-telecom conglomerate, Reliance Retail Ventures Limited (RRVL) clocked a profit of Rs 3,271 crore in the April to June quarter in FY2026, while its consolidated gross revenue surged to Rs 84,171 crore.

RRVL's revenue from operation climbed to Rs 73,720 crore in Q1 FY26 compared to Rs 66,260 crore in the corresponding quarter last fiscal--11.3 percent rise.

The quarterly EBITDA also jumped by 12.7 percent to Rs 6,381 crore between April-May-June duration in FY2026 compared to Rs 5,664 crore in Q1 FY25.

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According to RRVL, all segments performed well in the first quarter, with grocery and fashion registering exceptional growth.

Reliance Retail continued to focus on omnichannel models to boost sales. The company expanded its physical stores by 3.6 percent to 19,592 year-on-year in FY26. 

Additionally, JioMart registered a 68 percent quarter-on-quarter growth while a 175 percent YoY growth of daily orders, the company stated.

Consumer Electronics business achieved steady growth, driven by an average bill value growth (up
26%), and conversions (+200 bps) Y-o-Y. Reliance Retail acquired US home appliance brand Kelvinator for an undisclosed price, the company informed on Friday.

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Reliance's lifestyle ecommerce platform Ajio expanded its product catalogue to over 2.6 million options, which grew by 44% Y-o-Y. The company launched Ajio Rush, a 4-hour delivery service was launched during the quarter and is live in 6 cities. Besides, the Shein application, which RRVL brought back in the country after a ban for nearly five years, crossed 2 million downloads. 

"Reliance Retail delivered a resilient performance during this quarter was driven by our relentless focus on operational excellence, geographical expansion, and sharper product portfolio. Our continued investments in cutting-edge technologies and differentiated product offerings have enabled us to serve our customers better and scale with agility," Isha M. Ambani, Executive Director said.

Reliance Retail Ventures posts 11.3% rise in revenue to Rs 84,171 crore in Q1 FY26

Retail chain Shoppers Stop's long-serving Chairman, BS Nagesh, has retired after a 34-year tenure at the helm. 

Following his departure, Nirvik Singh will take the reins of the K Raheja Corp-owned retail chain, marking a new chapter for the company.

Nagesh has been associated with the Company since its inception in 1991, first as its founding employee and later in various key leadership roles. 

Over a career spanning 34 years, Nagesh began his career as the General Manager, tasked with launching the department store under the K Raheja Group. He went on to serve as Managing Director until 2009. Later, he was appointed to the position of Vice Chairman of Shoppers Stop, and from 2018, he became Chairman of the Board.

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Nagesh is also the founding Chairman of the Retailers Association of India (RAI).

'Shoppers Stop incoming Chairman-Nirvik Singh'

Singh has more than 35 years of work experience in marketing and business leadership. Singh began his career with Lipton India, a Unilever company, and later moved to Grey Group, where he held top executive positions, including CEO, Chief Operating Officer, and Chairman & CEO.

Until 2024, Singh was the Global Chief Operating Officer and President, International Markets of Grey Group.

Singh completed his degree from Calcutta University in 1985. He attended Leadership and Executive programmes at both Harvard University and at Singularity University in Silicon Valley.

'Shoppers Stop Q1 FY2026'

Shoppers Stop released its Quarter 2 earnings for the fiscal year 2026 on Thursday. The clothing-to-cosmetics store chain narrowed its consolidated losses to Rs 15.74 crore in the June quarter for fiscal year 2026 from Rs 22.72 crore in the corresponding quarter in FY25.

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The revenue from operation marginally increased from Rs 1,069.31 crore in Q1 FY25 to Rs 1,161.08 crore in Q1 FY26. 

Additionally, the total income of the company increased to Rs 1,171.15 crore--up 9.16% year-on-year.

Shoppers Stop's BS Nagesh resigns after three decades, Nirvik Singh to take the reins

Tata Group-owned retail firm Trent Ltd clocked a 20% rise in revenue in Quarter 1 of the fiscal year 2026. The fashion and lifestyle retail firm reported a standalone revenue of Rs 5,061 crore in Q1 FY26 as against Rs 4,228 crore in the corresponding quarter last fiscal. 

However, Trent Ltd stock plunged by 7.51% to Rs 5,726.56 apiece on Friday at 10:42 AM. The company has lowered its near-term growth expectations, projecting 20% growth in its fashion segment in Q1 FY26, well below the 35% CAGR between FY21 and FY25 during the annual general meeting (AGM), held on July 3.

Following this, domestic brokerage firm Nuvama Institutional Equities has downgraded the target price to Rs 5,884 from Rs 6,627, and has trimmed its FY26 and FY27 revenue and EBITDA estimates. 

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Trent's management has assured that the company is on track to reach the 10x target, and added about the two-fold rise in revenue. 

Trent Ltd has scaled up its offline expansion by opening 11 Zudio stores and one Westside store between the April and June quarter in the current fiscal. As of June 30, 2025, Trent's store portfolio includes 258 Westside, 766 Zudio, and 29 stores across other lifestyle concepts in 242 cities. For the ongoing fiscal year, Trent Ltd has eyed to expand its footprint across the country and scale up its supply chain to support growing business. The company has planned to add 250-plus stores in all formats, including the grocery business, in FY26.


Notably, Trent Ltd's sales have improved significantly in the last fiscal despite the multiple headwinds, including inflation and discretionary spending. 

<a href="https://cms.storyboard18.com/brand-makers/tatas-trent-accelerates-retail-expansions-adds-over-280-stores-for-westside-zudio-in-fy25-69970.html">Tata’s Trent accelerates retail expansions, adds over 280 stores for Westside, Zudio in FY25</a>

In the fiscal year 2025, Trent's sales rose to Rs 17,624 crore compared to Rs 12,669 crore in the year-ago period. The Tata retail subsidiary also expanded its offline footprints by opening 1,043 new stores in FY25---an increase of 28.6% year-on-year. It added 64 cities to its offline channels in FY25.


According to the company's stock exchange filing, the beauty segment has grown at 149% CAGR in the past five years, while innerwear and footwear have grown at 92% CAGR and 73% CAGR between FY21 and FY25, respectively.

India's fashion and lifestyle market is poised to grow at 10-12% CAGR to Rs 18 lakh crore by 2028, driven by evolving consumer preferences, global access, and digitalization.

Trent clocks 20% rise in revenue in Q1 FY26, shares plummet 7% as firm lowers near-term growth

Social and short-form digital video are set to continue their upward trajectory in 2025, according to MAGNA’s latest India Ad Forecast. Social ad revenue is projected to grow 16.4% year-on-year, rising from ₹210,095 million in 2024 to ₹244,448 million (₹24,445 crore) in 2025, increasing its share of total adex from 17% to 18%. Short-form digital video is expected to grow 12.9%, from ₹79,904 million in 2024 to ₹90,236 million (₹9,024 crore) in 2025, nudging its share up from 6% to 7%.

Together with video and retail formats, these categories are forecast to drive the bulk of India’s digital advertising growth this year, solidifying their dominance in a rapidly shifting media landscape.

Hema Malik, Chief Investment Officer, IPG Mediabrands India, said: "MAGNA predicts above average ad spend resilience in 2025 neutralizing the impact of ad spend on cyclical events in 2024 led by National Elections & T20 World Cup. In 2025 MAGNA expects dynamic ad spend in Finance, Media, Pharma, Technology, Gaming and Retail, while Automotive and Electronics might lag. The trio of Video, Social and Retail will once again lead the Adex growth. Live sports, which were the only Linear TV mainstays, have been upended with more people streaming sports content. Ad-supported streaming experience rapid growth in access, consumption, and advertising sales, as nearly all streaming TV platforms offer more affordable ad-supported plans. Long-form video is growing at a blistering pace of over +25% and is 6% of the total video forecast, estimated to gain double digit share in the next three years."

Overall, India's economic outlook remains positive, with robust growth potential supported by a combination of domestic demand, government investment, and a thriving services sector. In a high-stake election year (2024), the market grew +6.5%. IMF in its April 2025 report, projects a slight contraction in activity with a growth forecast of +6.2% in 2025 and a marginal recovery with +6.3% expansion in 2026.


Monetary tightening of the past is now being rolled back by the central bank, paving way for recovery. With the inflation cooling from 4.7% in 2024 to estimated 4.2% in 2025 and 4.1% in 2026, central bank is signalling staunch support for economic revival with front loading interest rate cuts and injecting liquidity into the market.

Evolving global trade landscape is expected to influence India’s growth trajectory and potential trade headwinds could have an impact on the economy. However, India is well placed to manage the effects of trade disruptions because of domestic growth drivers and low dependence on exports. Nonetheless, the key sectors that drive both trade and domestic adex such as CPG, Auto, Textiles, Electronics & Tech face challenges and India maintains an extremely cautious stance.

The Media Owners revenue outlook in 2025 is positive across both linear and digital formats. 2025 H1 will see an increase of +6% and the latter half of the year will grow +9%. Any impact of trade is likely to be felt in the second half of the year and though our full-year forecast accounts for this challenging environment, the situation is still forming shape and there is uncertainty.

An, YOY growth of +7.8% in 2025 with total revenue increasing by INR 99 billion taking the total adex from INR 1272 billion ($14.7 billion) to INR 1371 billion ($15.9 billion). Digital Pure Player formats valued at INR 680 billion ($7.9 billion) are driving the advertising economy, which is estimated to grow at +11.4%. Video (INR 413 billion, $4.8 billion) which is the second largest format is estimated to grow +4%. While Digital Video growth is +17%, overall video spends are weighed down by linear television which is forecast to grow +2.5%. Digital Pure Play and Video accounts for 80% of the total adex. Publishing (INR 205 billion, $2.4 billion) will grow +3.5% with the digital version of the format growing at twice the rate. Audio & Experiential, which is 5% of the adex, will be growing at +5.9% and +12.9% respectively. In 2026, the growth is expected to be +7.7%.

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The trio of video, social and retail to lead India’s adex growth in 2025: MAGNA

Hindustan Unilever is sharply expanding its digital footprint and influencer partnerships in a bid to keep pace with India’s rapidly evolving consumer landscape. At the company’s 92nd annual general meeting, Chairman Nitin Paranjpe said that the fast-moving consumer goods giant now allocates 40 percent of its advertising budget to digital media, reflecting the growing importance of social-first marketing strategies in India’s consumption story. The company has also scaled its influencer network to 12,000 creators, a striking increase from around 700 the previous year.

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"We have significantly boosted our investments in digital marketing – today 40% of our spending is on digital media," Paranjpe said. HUL is optimizing a "social-first" approach in marketing to reach new-age consumers, the chairman added. 

Hindustan Unilever, which makes brands including Surf Excel, Dove, Lakme, Closeup, Red Label and Bru, reported a turnover of ₹60,680 crore for the fiscal year ended March 2025, with profit reaching ₹10,644 crore.

The company has leaned into vernacular influencer marketing to broaden the reach of its beauty and well-being brands, while developing a “Winning in Many Indias” strategy that tailors offerings to the country's diverse consumer base across economic segments.

"We are deploying the Winning in Many Indias (WiMI) 2.0 approach to reach our consumers. WiMI 2.0 is based on the understanding that consumers across the economic pyramid will have varied interests and expectations, including what they buy and where they shop," Paranjpe said.

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“Consumers today are more aspirational, with sentiments, tastes, and preferences evolving rapidly,” he cautioned, and added, “As a company, we have become more obsessive about "sensing" what consumers want and need, and "delivering" at the right place and time.”

Hindustan Unilever has also invested in consumer-centric research and data-driven marketing. 

It launched an Agile Innovation Hub to identify emerging trends and develop new products, including Stratos, a skincare technology certified by the Skin Health Alliance UK and the British Skin Foundation, with over 20 patents filed.

The company is betting on India’s expanding digital infrastructure. The FMCG major has infused significant capital in e-commerce and quick commerce platforms to optimize data-driven insights to ensure advertising reach, the right assortment, and product placement.

During the AGM, Paranjpe also called out India’s Digital Public Infrastructure as one of its greatest future advantages, and hailed the Open Network for Digital Commerce (ONDC) for levelling the playing field for kiranawallas and retailers across the nation. At the same time, he mentioned that getting sellers and resellers to leverage e-commerce and improve India’s e-retail penetration is a tall order.

Addressing shareholders, Paranjpe highlighted Hindustan Unilever’s commitment to climate and societal issues as critical to its long-term strategy. The company will prioritize action across climate, nature, plastics and livelihoods while nurturing a corporate culture that embraces “freedom of thought and ideas,” he said.

He also emphasised the need to have the right talent to win in the new world and said, “We truly believe that market leadership follows thought leadership and fosters a culture that enables freedom of thought and ideas, helping us win in the future.”

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'40% of spends are on digital media; Over 12,000 influencers collaborate with our brands': HUL's Nitin Paranjpe

E-commerce giant Amazon has won the long-standing court battle against FMCG major Future Group at the Singapore International Arbitration Centre. 

The final judgment ruled in favour of Amazon saying that business tycoon Kishore Biyani-led Future Group breached its pre-existing contract while merging business with Reliance Retail.

According to the official order of the court, 835 of the 1,534 retail stores Future Retail Limited were transferred to Reliance during Amazon's acquisition of 49% in FCPL for Rs 1,400 crore. FCPL held a 10% stake in FRL. 

However, Amazon has been awarded only Rs 23.7 crore by the Singapore tribunal in damages as against Rs 1,436 crore demanded by the e-commerce behemoth.

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Amazon argued that it should be compensated for the full value of its 2019 investment in FCPL, including Rs 1,430 crore paid under the Share Subscription Agreement and Rs 5 crore associated cost.

However, the tribunal said that even if all the contractual agreements had been fully performed, Amazon would not have recovered its investment due to the weak financial condition of FRL.

Further, the SIAC ruled that awarding full damages would unfairly shield Amazon from a commercial loss it was likely to incur regardless.

"Such an award would essentially allow Amazon to escape bad bargain," the final judgment noted.

According to a report by Bar & Bench, the SIAC has directed 11 promoters and parties, including Biyani, to jointly pay the amount, along with the interest at 10.3% annually from March 9, 2022, until full payment.

Future Group has to pay Amazon's arbitration and litigation costs as well, the tribunal order stated.

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Overall, the tribunal awarded Amazon total legal and related costs of Rs 77.3 crore and SGD 68,550.


The legal battle between Amazon and Future Group began in 2020 when industrialist Mukesh Ambani-led Reliance Industries announced the acquisition of Biyani's retail and fashion conglomerate for Rs 24,713 crore. Future Group, which was on the verge of bankruptcy with Rs 22,000 crore in debt, decided to sell its retail business and assets to Reliance.

Amazon objected to the deal, calling it a breach of contract. Thereafter, the US-based e-commerce giant initiated arbitration proceedings against Future Group in the same year.

Notably, the Competition Commission of India (CCI) had withdrawn approval for the Amazon-FRL deal and also imposed a Rs 200 crore penalty on the e-retailer in 2021. CCI had said that Amazon concealed significant details to get approval on the deal in 2019.

Thereafter, Amazon approached SIAC over the deal violation. Simultaneously, FRL filed a case before the Delhi High Court against Amazon in October 2020.

After two months, both CCI and the Securities and Exchange Board of India (Sebi) approved the FRL-Reliance acquisition in 2020.

In the subsequent year, multiple appeals were made to the Supreme Court by both parties.

In March 2022, the Supreme Court lifted the stay by the Delhi High Court on the SIAC. Last week, SIAC made the ruling in favour of Amazon.

Amazon wins case against Future Group, Singapore tribunal awards paltry amount in damages

Swedish fashion retailer Hennes & Mauritz, popularly known as 'H&M', reported a 3% rise in sales at $5.99 billion in the second quarter (1 March 2025 – 31 May 2025). The gross profit of the marquee apparel brand surged to $3.32 billion in the same period. In contrast, the operating profit declined to $7.098 billion. 

Notably, H&M has reported slightly a stronger second quarter compared to rival Spanish brand Zara. Inditex, owner of Zara, reported a 12% decline in revenue growth to 6% in Q2 (April-June 2025).

H&M has eyed a 3% rise in sales in June 2025 compared with the same month the previous year. The sales increase of 3 percent is impacted by a negative calendar effect of around one percentage point, the fashion retailer said.

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“Our plan, with its focus on the product offering, the shopping experience, and the brand, is again confirmed by the progress we see. The positive development in important areas such as online, H&M womenswear, and H&M Move, as well as continued focus on good cost control, will contribute to a profitable sales development,” says Daniel Ervér, CEO.

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Amid the global macroeconomic uncertainty and cautious consumer sentiments, Ervér said that the clothing brand is focusing on offerings in both online and offline verticals. While, the brand has reduced its physical stores, it is vigorously expanding in Latin America. H&M is opening its first stores and online in Brazil in the second half of 2025. H&M is also opening its first store in El Salvador and in Venezuela in 2025. Paraguay will become a new H&M market, with the first store opening in 2026. 

In 2025, H&M oplans to open around 80 new stores, primarily in growth markets. However, 200 stores are scheduled for closure this year in the established market.

"With a clear plan, a strong financial position, good cost control, and committed employees, we see good opportunities for long-term, sustainable and profitable growth," H&M CEO added.

H&M posts 3% rise in sales to $5.99 billion in March-May Q2 2025

Beauty and fashion e-retailer Nykaa, which made its debut in quick commerce service in October 2024, has now expanded it to seven cities. 

According to the regulatory filing, Nykaa's fast delivery venture, 'Nykaa Now' has more than 40 rapid store counts in seven metro cities. Nykaa's parent firm FSN E-Commerce has promised order fulfilment between 30-120 minutes. 

In the recently held Quarter 4 earning call, Nykaa founder Falguni Nayar said the company's focus is on 2-hour delivery at present.

"We are also building it in a way with a promise of within 2-hour delivery with most likely delivery timelines of 60 minutes, which is a better way to build a beauty quick commerce business," Nayar said.

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Simultaneously, Nykaa is also bolstering its offline presence, with the opening of 237 stores in 79 cities to date. 

The beauty retailer has clocked significant sales, driven by premium brands. According to the company, it witnessed a 9-fold jump in premium customer annual consumption in fiscal year 2025. The average annual spending stood at $395 (Rs 34,120 approx) by the top 10% of customers, Nykaa mentioned in its latest investor report.


Nykaa's beauty vertical grew by 30%, about Rs 11,780 crore GMV in FY25. In contrast, the fashion growth came out at 12% on a year-on-year basis at Rs 3,800 crore of GMV.

	
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House of Nykaa, the brands owned by the company, clocked Rs 1,700 crore GMV in the beauty segment--a six-fold rise YoY in FY25. Nykaa-owned fashion brands registered Rs 430 crore GMV in the same period, driven by a surge in homegrown D2C brands, occasion-led demand, and spending on brands outpacing unbranded products.

GenZ is driving major growth for the lifestyle category, according to Nykaa. In FY25, GenZ's spending stood at $0.9 trillion, which is estimated to jump to $1.4 trillion by 2030.

According to Redseer's report, the Beauty & Personal Care and Fashion segments account for a quarter of discretionary spending in India FY25. However, the lifestyle categories are projected to drive the e-commerce industry's growth from $23 billion in FY25 to $70-75 billion in FY30.

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