Spanning over one million square feet, South City Mall features a vast array of international and Indian brands and generates an average annual turnover of over Rs 1,800 crore.

Global private equity firm Blackstone, in one of its marquee asset deals, has acquired South City Mall in Kolkata for a transaction value of Rs 3,250 crore, according to a statement on June 17.

The deal was facilitated by real estate consultancy firm ANAROCK.

Asheesh Mohta, Head of Real Estate Acquisitions – India, Blackstone said that South City Mall is the definitive destination in Kolkata for shopping, dining, leisure, and entertainment.

“We are thrilled to strengthen our presence in India and invest in this iconic asset. We are committed to continuing South City Group’s wonderful work and positioning South City Mall for long-term success, benefiting from our scale, operational expertise, and deep experiences in the retail sector, particularly in India where we own one of the largest retail portfolios,” he said in a statement on June 17.

Spanning over one million square feet, South City Mall features a vast array of international and Indian brands and generates an average annual turnover of over Rs 1,800 crore. The mall houses over 150 stores and has multi-storeyed parking for over 1,250 cars.

US-based Blackstone is the largest owner of commercial and retail real estate in India. As of December 31, 2024, Blackstone had over $1.1 trillion assets under management.

Blackstone has been investing in India since 2006 and has pumped in more than $50 billion across sectors ranging from IT services and asset & wealth management to auto components and online learning.

Commenting on the deal, Soumendu Chatterjee, Regional Director – Land, ANAROCK Group, said that ANAROCK was the sole transaction advisor for the iconic South City Mall.

“This landmark transaction once again showcases ANAROCK’s ability to facilitate large-scale, complex deals and commitment to delivering comprehensive real estate advisory services for marquee assets. The mall has a high footfall – daily visitors range between 55,000 and 60,000 surging to 75,000– 200,000 during weekends and festive seasons,” he said.

South City Mall was developed by a consortium of real estate players in the region and launched in January 2008.

Sushil Mohta, Chairman of Merlin Group and Director of South City Projects, said that South City Mall is indeed a prime retail asset in one of the most sought-after areas in South Kolkata.

“We applaud Blackstone on this acquisition. The mall boasts numerous premium retail and lifestyle brands including Zara, Tommy Hilfiger, Levi’s, Only, Armani, Calvin Klein, The Collective, United Colours of Benetton, Adidas, PUMA, Fab India, among others,” he said.

Author Credits- Ashish Mishra
Money control

Omnichannel personal care retailer Honasa Consumer appointed Yatish Bhargava as chief business officer with effect from Tuesday. In his new role, Bhargava will spearhead business operations across brands and channels to scale growth across platforms.

The company, which owns brands like Mamaearth and Derma Co., stated that Bhargava’s appointment is intended to strengthen its omnichannel strategy. He has 17 years of experience under his belt across profit and loss management, leading large-scale teams across general trade, modern trade, and ecommerce.

Prior to joining Honasa, Bhargava held key leadership roles at Indian ecommerce major Flipkart and FMCG giant Hindustan Unilever. He has led category transformation, built scalable go-to-market strategies, and driven sustained growth across diverse consumer businesses. He holds an MBA from the Indian Institute of Management, Lucknow.
“Yatish brings a rare blend of strategic thinking and executional depth that aligns with our ambition to not just grow, but to lead the next chapter of beauty and personal care in India,” said Varun Alagh, cofounder and CEO at Honasa Consumer.

“I look forward to contributing to the next phase of growth by bringing together strong execution, sharper business levers, and a deep connection with what consumers truly value, alongside an excellent team,” Bhargava said on his appointment.

Honasa reported a 13% year-on-year (YoY) rise in operating revenue to Rs 533 crore for the March quarter. The growth—in a quarter when most fast-moving consumer goods (FMCG) companies have reported single-digit expansion of their topline—came on the back of recovery from the negative impact of its offline restructuring, which began in the July-September 2024 period.

The company reported a 16% drop in net profit at Rs 25 crore during the period, down from Rs 30 crore in January-March 2024.

The Honasa Consumer share closed 1.76% lower at Rs 305 per share on BSE, compared to a 0.26% drop in the benchmark Sensex.

News Credits- msn

Last month, the FDA suspended the food business license of this warehouse of Kiranakart Technologies Pvt Ltd after serious hygiene violations were allegedly found during the inspection

Following a raid at the Dharavi, Mumbai outlet of Kiranakart Technologies Pvt Ltd, the parent company of the popular grocery delivery platform Zepto, the Maharashtra Food and Drug Administration (FDA) is now facing a new challenge — locating the hidden “dark stores” of quick commerce companies across the state.

Last month, the FDA suspended the food business license of this warehouse of Kiranakart Technologies Pvt Ltd after serious hygiene violations were allegedly found during the inspection.

Following this, the state government earlier this month, ordered strict inspections of all facilities operated by fast-delivery services like Zepto, Blinkit, and Instamart, amongst others. However, FDA officials are unable to track these warehouses, storage and packaging centres as they are operating with different names.

The FDA Pune region office, which includes Pune Solapur, Satara, Sangli and Kolhapur has over one lakh registered food business operators (FBO) and over 30,000 licensed FBOs. After the order, the FDA inspected over ten dark stores associated with this platform. Besides, a stop business notice was issued to a dark store in Baner-Balewadi associated with quick grocery delivery service Blinkit, said the officials.

Suresh Annapure, joint commissioner, FDA, Pune region, said, “We have been unable to get the details of the dark stores, warehouses and storage centres associated with these platforms. These dark stores are linked to the platform, are outsourced by these platforms and are registered under different names. Besides, we don’t know how many of them are operating sans licences.”

According to FDA officials, the head offices of these quick commerce companies are located in cities like Delhi, Mumbai among other cities. The FDA officials are unable to get the contact details of the head office and the concerned people. Due to this, food authorities are collecting information and even conducting random inspections across the Pune region, said the officials.

The dark stores are franchises given by these quick commerce companies. These companies are supposed to give the FDA the information about their franchise. However, it is not covered under the law.

Annapure said, “Once we get the contact details, we will send a letter to these companies to share details of their dark stores. This will help us to conduct the inspection across the region and make sure they follow the food safety and hygiene norms. The drive will help the public at large as the dark stores will focus on improving the food safety handling and storage practices.”

After the Zepto incident, the FDA has increased its focus on quick commerce services, which have become extremely popular in recent years for delivering groceries and food items in 10–15 minutes. The state government has asked the FDA to ensure that all such facilities follow proper hygiene and safety rules, said the officials.

Author Credits- Vicky Pathare
Hindustan Times

Japanese sportswear giant Asics will ramp up India manufacturing to 40% from 30% over the next few years to ensure steady supply, a top executive told Reuters, as the country’s regulations force global brands to pause imports of footwear.

The Indian government has mandated certain standards for various footwear segments, requiring both domestic and foreign manufacturers to obtain quality certifications.

Asics, which has also paused imports, said bringing in footwear from any country is not feasible without government certification.

“To address this critical situation, we are strategically developing local production capabilities,” Asics India Managing Director Rajat Khurana said.

For financial year 2024-25, Asics reached 30% local production, a government-mandated threshold that allows foreign brands to operate their own single-brand stores in India.

The firm, which operates roughly 125stores through franchise partners, plans to open its first brand-owned store this year and is scouting locations in and around Delhi and Mumbai, Khurana said. It aims to set up a couple more over the next few years.

Asics, which competes with global rivals including Nike, Adidas, and Skechers USA in India, also plans to open threenew franchise stores per month between now and the end of the year.

For 2024-25, Asics projected revenue growth of 35%-37% in India, following a 26% jump in the previous fiscal year that lifted its revenue to Rs.428 crores.

Known for its running shoes, Asics is benefiting from a growing fitness culture in India and rising interest in tennis and pickleball among affluent urban consumers.

The local sporting goods and apparel category is expected to double to $58 billion by 2030 from 2023 levels, according to a 2024 report by consultancy firm Deloitte.

News Credits- FASHION NETWORK

FedEx has introduced an AI-powered sorting robot at its air network location in Cologne, Germany, to assist staff with the sorting process and allow them to focus on more complex tasks.

The robot is the first of its kind in the European FedEx network and will be used to sort documents and smaller parcels up to 4kg, processing up to 1,000 pieces per hour and managing around 90 destinations simultaneously.

“AI-supported technologies like this help us manage shipments more effectively, enhance customer experience and boost our competitive edge as e-commerce continues to drive growth in the market,” said Boris Stoffer, managing director of network operations Germany at FedEx. “These technologies are also supporting our employees by reducing physical strain by taking over repetitive, high-volume tasks.”

The robotic arm is part of FedEx’s wider goal of developing a smart logistics network. In 2020, the company installed four robotic arms to automate small package sorting at its Memphis Hub in Tennessee. In 2022, it deployed sorting robots in its South China E-Commerce Shipment Sorting Center in Guangzhou and its Singapore Hub. The company also uses robotic product sortation and identification systems at 17 US sorting facilities, including New York, Las Vegas and Ohio.

“This robotic in-feeding system is proof of our commitment to innovation,” said Georgiana Constantin, manager of planning and engineering innovation and properties design at FedEx. “Delivering best-in-class service is our ambition, driven by a passion for innovation that puts our customers first.”

Author Credits- HAZEL KING
Parcel and postal technology INTERNATIONAL