Benetton India plans to strengthen its presence in the fashion footwear and inner-wear segments in the next three years in the country. The company expects footwear and innerwear segments to contribute nearly 15-20 per cent of overall business in the next three years. It has completely developed a footwear line in India wi... Read more
Despite a consistent 10 per cent annual growth over the past few years, India’s retail sector has not been able to achieve the same level of growth as Malaysia and Thailand. Now, the pandemic has forced around 7 lakh small retailers to permanently shut down operations, reports Economic Times. Though the India... Read more
Demand for home textiles used for furnishing residence, towels, bedsheets, pillow covers and table linens is recovering as the fear of COVID pandemic subsides with the launch of vaccine.
The reopening of hotels and motels has spurred demand for bed linen as customers have become more picky about the freshness of bed linen... Read more
Expecting online sales to cross the Rs 10,000 crore mark soon, Arvind Fashions has made huge investments in various digital channels. Not only does the company sell on all third party portals, it has also scaled up its own website, said Kulin Lalbhai, Director to the Economic Times. Currently, the company is integrating stores w... Read more
From being called one of the most pragmatic Budgets of modern India to being hailed for its positive and growth-oriented initiatives, the Union Budget 2021-22 has been appreciated by all sections of the Indian textile and apparel industry.
Textile parks, custom duty reduction to make SMEs more competitive
As A Sakthivel, Chair... Read more
Monte Carlo posted net profit of Rs.79.35 crore for the third quarter ended December 31, 2020 as against net loss of Rs 4.42 crore for the period ended September 30, 2020. The company’s income grew to Rs 407.74 crore during the quarter as compared to Rs 102.73 crore during the quarter ended September 30, 2020. On a y... Read more
In its third quarter ending December 31, 2020, V2 Retail reported total income of Rs.228.46 crore during the period ended December 31, 2020 as compared to Rs.90.30 crore during the period ended September 30, 2020. The company posted a net profit of Rs 13.81 crore as against a loss Rs 7.31 crore during the quarter ending Se... Read more
One of India’s largest knitwear brands, Rupa & Company plans to expand more in the premium and super-premium category besides improving focus on women, casual and thermal wear. The strategy is to foray into newer markets through new distributors besides penetrating deeper into existing ones. This would help incre... Read more
Gautam Singhania, Chairman & Managing Director, Raymond believes the Budget would boost India’s economic growth besides easing the process of doing business in the country. Singhania particularly appreciated the government’s decision to set up seven new textile parks under the under the Mega Investment Text... Read more
Focusing on health and well-being of citizens, physical and financial capital and infrastructure, inclusive development for aspirational India, innovation and R&D, minimum government, maximum governance are some of the highlights of the Union Budget for the financial year 2021-22.
Finance Minister, Nirmala Sitharaman alloca... Read more
With the pandemic devastating several businesses and industries in 2020, many retail and offline players are offering customized services online like the Cloud, etc. Prominent amongst these is The Pant Project which offers customized trousers at reasonable rates. Each trouser is personalized according to customers’ m... Read more
The pandemic has brought in a shift in consumer behaviour, providing a major fillip to India’s e-commerce industry that is now poised to touch $90-100 billion in the next 3-4 years. While challenges brought in by the pandemic impacted businesses, many new avenues also opened up.
The opportunities that modern retail ... Read more
Trident, the global player in home textiles, has strengthened its retail presence in the country with the opening of six new exclusive showrooms for its bed and bath linen brands. The newly opened showrooms spread across 500 sq. ft each are located in Ludhiana (two showrooms), Panchkula, Pune, Solapur and Bhopal. The tally... Read more
And IBEF report suggests India is the world’s fifth-largest global destination in the retail space. The entry of top players has made the sector one of the most dynamic and fast-paced with total consumption expenditure expected to be worth $3,600 billion by 2020 from $1,824 billion in 2017. It accounts for over 10 per cent... Read more
Apparel and denim maker, Kewal Kiran Clothing reported a six per cent decline in net profit to Rs 11 crore ($1.5 million) in the quarter ended December 2020, as against Rs 12 crore it reported in the corresponding quarter last year.
According to a brand statement Covid-19 outbreak across the globe and in India has resulte... Read more
Textiles major Raymond’s board has approved raising upto Rs 200 crore through non-convertible debentures (NCDs) on a private placement basis. A meeting of the committee of board of directors of the company was held recently. The committee of directors at the said meeting have approved the issue of non-convertible deb... Read more
In response to increased public health concerns with on-going pandemic, lifestyle and fashion brand Roadster launched clothing and footwear made from anti-viral textiles. The brand has also expanded its product selection to launch a line of Augmented Reality Tees.
Roadster’s new line of AR T-shirts was developed by ... Read more
India is considering revising its foreign investment rules for e-commerce, a move that could compel players, including Amazon, to restructure their ties with some major sellers. The discussions coincide with a growing number of complaints from India's bricks-and-mortar retailers, which have for years accused Amazon and Wal... Read more
Jeans brands Lee and Wrangler are planning to transform their India businesses into omni-channel entities. This is being done to drive growth and double sales over the next two years by extensively focusing on online channels. The US-based Kontoor Brands is moving Lee and Wrangler business from a fully owned Indian subsidi... Read more
India Ratings and Research (Ind-Ra) in a report stated apparel prices are likely to remain soft in the second half of 2020-21 even as the segment is in a recovery mode. The apparel segment Wholesale Price Index recovered to pre-COVID-19 levels in November 2020, led by the festive and marriage season demand, said the report.
How... Read more
Year 2020 was a tough one globally for people and businesses alike. With long stretches of lockdowns, and people confined at home, life almost came to a standstill. However, with the successful launch of a few vaccines there is some hope and positivity in our fight against the global pandemic. The Economic Times took stock of th... Read more
Sports retail chain, Decathlon, plans to shut its Sardar Patel Ring Road store in Ahmedabad, launched seven years ago. This was “country’s biggest sports store” on January 15. “The operations of this store will be merged with those on CG Road and Motera in Ahmedabad,” said an official from the... Read more
The Clothing Manufacturers Association of India, (CMAI) has written an open letter to Nirmala Sitharaman, Minister of Finance outlining pre-Budget recommendations. The association has urged the government to consider key financial aid that can help the industry recover from the aftermath of the Covid-19 pandemic.
Government sup... Read more
Almost a year after business was severely hit by pandemic-related disruptions; Future Group CEO Kishore Biyani expects normal sales to return by the end of January. The group, which operates popular retailing formats Big Bazaar, FBB, Central and Nilgiris - has seen sales touching almost 60 per cent of pre-COVID levels and ... Read more