Zara’s Mumbai Exit + Bitcoin’s Bloodbath 💸 (Feb 26)

Good morning, Masala Chai fam! 🌞 It’s midweek, and we’ve got a piping-hot blend of business, markets, and startup drama brewing just for you.

From Bitcoin’s crash and Apple’s courtroom drama to Zara shutting shop and Ashneer Grover calling it quits—let’s sip through it all! 🏏💰📉

📰 Chai Shots

• 🚪 Zara shuts its flagship 5-storey Mumbai store – The iconic Fort location is gone after 8 years. High rent? Changing retail trends? No official reason given, but the brand still has stores in Mumbai. Read more in our Big Brew below!

• 🏏 Ashneer Grover shuts down CrickPe – The fantasy cricket app is out of the game after just 2 years, thanks to high GST and regulatory hurdles. Looks like Dream11 won this match.

• 📺 Reliance uses “brain mapping” to attract IPL advertisers – Post its Disney merger, Reliance is pitching scientific proof that IPL ads engage viewers better than YouTube & Instagram. Genius or gimmick?

• 💸 Bitcoin crashes below $90K – The crypto market is bleeding, with Bitcoin down 6% and Ether & Solana dropping 10%. Trump’s trade tariffs and industry scandals aren’t helping.

• 📜 India revamping bankruptcy laws – The government plans to speed up insolvency cases, improve creditor resolutions, and streamline court processes to tackle delays and low recovery rates.

📈 Market Masala

• 📉 Late-session sell-off pulls Nifty 50 down for the 6th straight day – The Sensex snapped its 5-day losing streak, gaining 0.20% to 74,602, while Nifty 50 edged down 0.03% to 22,547. Metal stocks took a hit amid Chinese investment restrictions, while Trump’s tariffs kept investors on edge.

• 📡 Bharti Airtel surges 3% after Ericsson 5G partnership – The telco is going full-speed with 5G standalone to expand network capacity and bring high-speed internet to the masses.

• 🚗 HSBC warns India’s EV policy could hurt local players – With India considering lower import duties to attract Tesla, homegrown automakers like Tata and Mahindra could take a hit.

• 📊 Tata Capital’s unlisted shares jump 20% in two weeks – Investors are hyped for its upcoming ₹50,000 crore IPO. Will it match Tata Tech’s blockbuster debut?

• 💼 India reviewing tariffs before Trump’s trade war escalates – A government panel will decide by March 15 whether to adjust import duties before Trump’s reciprocal tariffs on Indian exports kick in.

• ⛽ India buys €49B worth of Russian oil despite sanctions – Discounts up to $20 per barrel have led India to ditch the Middle East and stock up on Russian crude.

🌍 Global Masala

• 🤝 Trump teases an “economic deal” with Russia – While negotiating to end the Ukraine war, Trump also hinted at a US-Russia business deal. No details yet, but this could shake things up globally.

• 🏦 Bank of Korea slashes rates – South Korea cuts interest rates to 2.75%, the lowest since 2022, as the country struggles with slow growth and political turmoil.

• 🇩🇪 Germany’s election boosts markets, but uncertainty looms – The DAX index rose 0.6%, but analysts aren’t convinced that the new government can fix the economy or the energy crisis.

• ✈️ Etihad Airways planning a $1 billion IPO – Abu Dhabi’s airline will offer 20% of its shares, making it the first major Gulf airline to go public in two years.

• 🎵 1,000 artists release a “silent album” to protest UK’s AI copyright laws – Featuring empty studio sounds, the album protests AI models training on copyrighted music without permission.

• 📱 Apple’s Phil Schiller spills the tea in court – The exec testified against Apple’s 27% commission on external payments, fearing the company would turn into a debt collector for unpaid fees.

🚀 Startup Scoop

• 💳 Flipkart’s super.money acquires BharatX – The e-commerce giant is betting big on Buy Now Pay Later (BNPL) with this checkout financing startup acquisition.

• 🌍 Dodo Payments raises $1.1M to expand cross-border payments – The fintech startup aims to set up payment rails in 30+ countries, from EU and UK to Brazil and the Middle East.

• 🎮 Nazara acquires Funky Monkeys Play Centers for ₹43.7 Cr – The gaming company doubles down on kids' play centers, because hey, the little ones need entertainment too.

☕ The Big Brew – Zara Bows Out of South Mumbai, Makes Way for Luxury Fashion 🏬💸

Zara has shut down its massive five-storey flagship store in Mumbai’s Fort area after nine years, marking the end of an era for one of India’s biggest high-street fashion stores. But don’t worry—the space won’t stay empty for long! Luxury fashion retailer Purple Style Labs (PSL) is moving in, and they’re paying a jaw-dropping ₹10 lakh per day in rent! 😲💰

Why Did Zara Shut Shop? 🚪

• 📉 Sky-High Rent – At ₹3 crore per month, keeping the store running wasn’t financially sustainable.

• 📍 Shifting Shopper Hotspots – South Mumbai isn’t the retail magnet it once was; shoppers now prefer Lower Parel’s Palladium Mall for Zara hauls.

• 🛍️ Mall Over Street Stores – Zara still has stores in Mumbai, but they’re all inside malls, which get higher foot traffic.

Who’s Moving In? 👗✨

• 💎 Purple Style Labs (PSL), the company behind Pernia’s Pop-Up Shop, is taking over the 60,000 sq. ft space.

• 💰 ₹206 crore lease for 5 years – PSL’s betting big on luxury fashion.

• 👠 Designer Labels Galore – Expect high-end names like Tarun Tahiliani, Gaurav Gupta, and Falguni Shane Peacock to take over the space.

Our Take 🧐

Zara’s exit highlights a shift in Mumbai’s shopping scene—big street-side stores are losing out to premium mall locations. Meanwhile, PSL’s move shows that luxury fashion is booming in India. Will this bet on high-end retail pay off? Let’s watch this space! 🚀💎

🎯 Chai Break Trivia

🍌 Did you know? Bananas are berries, but strawberries aren’t! Yep, science says bananas fit the berry rulebook, while strawberries are just wannabes. Mind = blown. 🤯🍓❌🍌✅

🔥 What’s Brewing Next?

• 📊 Stock Market Holiday Alert – The Indian stock markets (Nifty50 & Sensex) will be closed on Wednesday, February 26, 2025, for Maha Shivratri

• 🍵 India’s Q4 GDP report – Will the economy stay strong, or is a slowdown coming?

• 🚗 Tesla’s next move in India – Will it set up local manufacturing or keep pushing for import duty cuts?

• 📊 The IPL advertising battle – Reliance vs. Google vs. Meta: Who wins the ad dollars this season?

We’ll be back tomorrow with more fresh chai ☕, hot takes 🔥, and updates that matter! Until then, sip, scroll, and stay ahead! 🚀💼

P.S. – If you enjoyed today’s newsletter, share it with your chai-loving squad! Because good gossip, like good chai, is best enjoyed together! 🫖😄