22 November 2023, Mumbai

With the lifestyle footwear segment emerging as Adidas' top-selling category, the company is optimistic in Q3 of 2023 about the resurgence of its fashion reputation and improved profit margins.

After recent slowdowns, particularly in the apparel segments over the past couple of years, Adidas is banking on the success of lifestyle footwear to drive growth.

The footwear category, particularly the ‘Originals’ range featuring Samba and Gazelle styles, has experienced a robust currency-neutral growth of 6 percent. Despite cautious inventory management, demand often exceeded supply, resonating well with young, fashion-conscious consumers.

Data-points

GlobalData, a London-based data analytics and consulting company, reports high profit figures in other Adidas footwear segments, including performance shoes for football and basketball. The latter category saw a boost with the introduction of NBA player Anthony Edwards' signature basketball shoe, the Adidas AE1.

The profit outlook remains positive with the impending launch of the Fear of God product range in the US market in Q4, contributing to the basketball segment's profitability.
On the flip side, apparel sales faced a decline of 6 percent, attributed to reduced demand in the current year after significant growth in 2022, driven by the media frenzy surrounding the FIFA World Cup.

Overall, Adidas reported a 6.4 percent decline in total sales for Q3 of 2023, amounting to approximately €6.0 billion. This downturn is more pronounced compared to H1, where the decline was 2.6 percent, a trend also observed among competitors such as Nike and Puma.

Yeezy, Adizero Adios Pro Evo 1 rope in profits
However, the third quarter marked a successful period for Adidas, attributed to a strategic focus on full-price sales and reduced discounting across most segments. Additionally, the decision to sell off the remaining Yeezy stock at the beginning of August 2023, following the brand's separation due to notorious antisemitism issues, contributed significantly, generating €350 million in sales.
Adidas also celebrated recent achievements, notably Ethiopian athlete Tigist Assefa setting a new women's marathon world record in Berlin, completing the race in two hours, 11 minutes, and 53 seconds while wearing the lightweight Adizero Adios Pro Evo 1 racing shoe.
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Bjørn Gulden, the CEO of Adidas, expressed satisfaction with Q3 results, emphasizing progress and outcomes surpassing expectations.

The Terrace range, featuring Samba, Gazelle, and Spezial, along with other models like Campus, has been pivotal in driving growth in the lifestyle business. Despite scaling up supply, the company acknowledges it has not yet met the total current demand.

Gulden notes a growing interest in Adidas' brand and products across all markets, with retailers showing increased enthusiasm for the sell-in of the Fall/Winter 2024 range.

Hot competition in India
Taking a global perspective, India has emerged as a focal point in the last quarter. Latin America showcased resilience, and the Asia Pacific and Greater China regions experienced slight revenue growth, driven by the easing of lockdown restrictions in late 2022 and the increased spending power of the urban middle-class.

However, challenges persist in EMEA countries and North America due to inflationary pressures impacting Europe and the US.
In the Indian market, Puma has claimed the lead as the premier sportswear company, achieving a record revenue of over Rs 2,000 crore despite the post-pandemic challenges in 2021.

Nuanced picture

This success is attributed to a strategic emphasis on online channels and a heightened consumer interest in fitness.

In contrast, Adidas saw a 23 percent decline in revenue, dropping to Rs 945 crore in FY21 from Rs 1,228 crore in FY20. Other major players like Nike, Skechers, and Reebok also faced disappointing performances in FY21.
Looking ahead, Adidas is strategically focusing on making significant strides in the Indian market. The company is adopting a more calculated inventory approach with a strong emphasis on performance and lifestyle shoes, anticipating a promising outlook for the year 2024 in India.

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16 November 2023, Mumbai

Jaypore, the revered handicraft-focused fashion and lifestyle store, has expanded its brick-and-mortar presence with a new boutique in New Delhi's Vegas Mall.
Nestled in Dwarka, the boutique boasts a diverse range of product categories, including ethnic wear, accessories, jewelry, footwear, and gift items.

Nuanced picture
The store's interior, adorned with warm hues, serves as a canvas for showcasing craft techniques, such as a prominent Khadi warping wheel, underscoring the brand's commitment to traditional craftsmanship.
This inauguration follows Jaypore's strategic openings in Pune's Wakad district in September and its 20th store in Hyderabad in June.
A brainchild of Aditya Birla Fashion and Retail Limited, Jaypore distinguishes itself by championing Indian heritage crafts. The brand's 'Reclaim Your Roots' Diwali campaign epitomizes its ethos, celebrating diverse clothing traditions from across India and their integration into the festive women's wear line.
Jaypore continues to weave a rich tapestry of Indian craftsmanship, now with an enhanced footprint in the vibrant heart of the capital.

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In preparation for the anticipated surge in demand during the upcoming festive season, Direct-to-Consumer (D2C) businesses have implemented substantial measures to enhance their production and storage capabilities, expand their workforce, and allocate additional resources to marketing initiatives. A recent survey conducted by Simpl revealed that nearly 70% of D2C brands anticipate a 2x to 4x increase in sales during this period.
Key Strategies Adopted by D2C Brands:
Production and Storage Enhancement: D2C brands have ramped up their production capacities to ensure adequate inventory levels to meet the anticipated surge in demand. Additionally, they have expanded their storage facilities to accommodate the increased stock.
Workforce Expansion: To effectively manage the expected increase in orders and customer inquiries, D2C brands have significantly bolstered their workforce. This includes hiring additional customer service representatives, logistics personnel, and marketing professionals.
Enhanced Marketing Efforts: Recognizing the importance of brand visibility and customer engagement during the festive season, D2C brands have allocated additional resources to marketing campaigns. This includes social media promotions, influencer collaborations, and targeted advertising efforts.
Anticipated Sales Growth:
The Simpl survey findings indicate that D2C brands are optimistic about the upcoming festive season, with nearly 70% expecting a 2x to 4x increase in sales. This positive outlook is attributed to factors such as increased consumer spending during the festive period, a growing preference for online shopping, and the expanding reach of D2C brands.

16 November 2023, Mumbai

Singapore's Charles & Keith, the premium accessories brand, has unveiled an exclusive outlet in Bengaluru within the newly inaugurated Phoenix Mall of Asia.
Nestled alongside renowned brands like Aldo, Pantaloons, and Lacoste, the store showcases the brand's chic handbags and trendsetting shoes.

Highlights

Positioned in North Bengaluru, the mall initiated a Diwali shopping festival, featuring discounts on festive items, including fine jewelry.
Having entered the Indian market in 2007, the brand boasts a network of stores in major cities like Mumbai, Chandigarh, Noida, and New Delhi. Founded by brothers Charles and Keith Wong in 1996, the brand has expanded globally with over 600 stores across 37 countries.

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08 November 2023, Mumbai

Beauty and fashion e-tailer FSN e-Commerce Ventures, operating as Nykaa, saw a significant 50% rise in consolidated net profit, reaching Rs 7.8 crore in the second quarter of September 2023, compared to Rs 5.2 crore in the same period the previous year.
Nykaa's consolidated revenue surged by 22.4%, hitting Rs 1,507 crore during the reported quarter, compared to Rs 1,230.82 crore a year ago.
Nykaa also reported a 23% year-on-year growth in the gross merchandise value (GMV) of its beauty and personal care (BPC) segment, with a 19% increase in the net sale value (NSV).
Backdrop

This increase was attributed to the growing popularity of home-grown and international brands in India's beauty market.
Furthermore, Nykaa continued to expand its physical retail presence, adding 13 new stores in the quarter, bringing the total to 165 stores as of September 30, 2023.
In the fashion business, the consolidated revenue from operations grew by 28% year on year, reaching Rs 130.5 crore.

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22 November 2023, Mumbai

Introducing The White Crow, a premium fashion haven, now gracing Pune's Kopa Mall with its grand debut. This sprawling multi-brand store promises a curated selection of both Indian and international labels, elevating the city's retail landscape.

Reliance Brands Limited (RBL)’s most coveted brands, including Ak-Ok, Bally, Hugo Boss, Tumi, Marc Jacobs, and more, find their new home here.

The store's interior, a harmonious blend of white and vibrant hues, offers a modern and refreshing ambiance. With natural wood accents, live plants, and tiled pillars showcasing key pieces,

The White Crow previously graced Ahmedabad, Chandigarh, and Hyderabad, this retail concept caters to the cosmopolitan shopper seeking aspirational fashion and lifestyle treasures in vibrant metropolises.

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16 November 2023, Mumbai

Spanish fashion and lifestyle brand Mango has unveiled its largest flagship store in Mumbai, India. The expansive 10,000 sq. ft. space is situated in the newly-opened Krishna Curve mall on Linking Road, Juhu Garden, Santacruz West.
Among the nine stories, the building hosts various brands such as Marks & Spencer, Nature’s Basket, Fitness First, Home to Life, and Crossword. The new Mango flagship store caters to women, men, teens, and kids, offering a range of clothing, footwear, and accessories.
Backdrop

Myntra, the Indian e-commerce marketplace, serves as the master franchisee for Mango in India, sub-franchising to other operators and selling Mango’s collection through both Mango’s website and Myntra’s online marketplace.
Mango, having tripled its presence in India in the past two years, opened its first flagship store in Bengaluru in March 2023, further expanding its offline stores to 80 by the end of 2022, compared to 28 in 2020. The brand, founded in 1984 in Barcelona, Spain, by brothers Isak and Nahman Andic, continues to grow its online and offline presence in the Indian market.

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14 November 2023, Mumbai

Optimistic scenario
The Confederation of All India Traders (CAIT) is hopeful about the sustained durable growth of India's retail sector, as the country gears up for upcoming festivals like Goverdhan Pooja, Bhaiya Dooj, Chhath Pooja, and Tulsi Vivah. The CAIT anticipates that the trade volume could increase by another ₹50,000 crore with these festivals.
Vocal for local
Make in India; The CAIT also witnessed that the Diwali 2023 sales were dominated by Indian products, as only local items were purchased and sold. This reflects a remarkable shift in consumer preferences, as buyers are increasingly opting for domestically produced goods.

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01 November 2023, Mumbai

Irasva Fine Jewellery, a name synonymous with timeless elegance and exquisite craftsmanship, unveiled its second store in the heart of Mumbai on November 1st, 2023. The grand opening was a captivating affair, with the radiant presence of Bollywood diva, Malaika Arora.
A Blend of Modern and Timeless
Located at Borivali, the new store is a blend of modern aesthetics and timeless charm, creating an atmosphere that is as beautiful as the jewelry it houses. As you step into the elegant space, you are welcomed by a dazzling array of diamonds, colored gemstones, and uncut Polki diamonds.
A Commitment to Elegance
Irasva Fine Jewellery is committed to creating masterpieces of elegance, and this is beautifully showcased in the new store. With its launch, the brand aims to bring its legacy of elegance and craftsmanship closer to the hearts of the people of Mumbai.

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