14 April 2022, Mumbai:

Amazon has warned Future Retail against holding shareholder and creditors meetings to approve the sale of retail assets to Reliance Retail. The US e-commerce giant has termed these meetings illegal and said, they would not only breach 2019 agreement but also violate a Singapore arbitral tribunal’s injunction on the sale of FRL’s assets to Reliance Retail.

A Singapore International Arbitration Centre (SIAC) arbitrator had in October 2020 restrained FRL from signing a deal with Reliance Retail until the outcome of the Amazon’s petition was finalized. It had warned the retailer against acting contrary to the ruling.

The meetings of FRL are scheduled on April 20 and 21 as the National Company Law Tribunal (NCLT) allowed the retailer to hold these meetings in February for considering a scheme of arrangements to sell its assets to Reliance Retail.

14 February 2022, Mumbai:

India should display its products globally alongside prominent fashion houses, opines Piyush Goyal, Minister for Textiles and Commerce and Industry. The minister also urged designers to ensure that each of the 75 lakh identified craft people earns Rs 1,000 more every month.

He urged National Institute of Fashion Technology alumni to come together to bring change the entire craft ecosystem.

Goyal advised each alumnus to adopt a craft person and devote time to educate the non-privileged section of the society on various aspects of design, management and technology.

ALSO READ: Piyush Goyal addresses IIT Kanpur’s Policy Conclave 2022

He appreciated Indian designers for their passion for crafts and emphasized that the art, craft, tradition and heritage of Indian designers need to be respected.

Goyal also appreciated the idea of wearing khadi/ handloom one day a week and the sense of designers having pride in the nation. It opens up a lot of possibilities and encourages designers to play a huge role in the industry’s development, he added.

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14 February 2022, Mumbai:

Future Group-owned Future Lifestyle Fashions (FLFL) plans to focus on improving its footfalls and ticket size through various marketing strategies besides launching new product categories to boost sales in the coming quarters.

The company managed to narrow its losses to Rs 112 crore for the third quarter ended December 2021, compared to a net loss of Rs 174 crore it posted in the year-ago period.

The company’s revenue for the quarter rose by 32 percent to Rs 1,255 crore, as against Rs 950 crore it posted in the corresponding period of the previous fiscal year.

ALSO READ: Amazon India looks to block sale of Future Group's small-format stores

Inflation and rising raw material costs, coupled with supply chain disruptions pose a big threat to various sectors despite consumer confidence improving over the last quarter, the company said.

It ended the December quarter with a store count of 331 across all formats.

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12 April 2022, Mumbai:

Navyasa by Liva; a contemporary saree brand from the house of Aditya Birla Group, has expanded its retail presence by opening its fifth store at Phoenix Palladium, Mumbai.

The store is aesthetically designed to suit the fashion sensibilities of the young audience with its artfully decorated and vibrant interior just like the saree collection itself.

ALSO READ Navyasa by Liva ropes in Deepika Padukone as brand amabassador

The store will be an experience in itself with a magic mirror which is a digital marvel for shoppers. Navyasa by Liva is the first saree brand to use magic mirror, a cutting-edge digital technology. It allows you to browse and virtually try on 150+ saree styles.

Navyasa by Liva sarees are fluid, flowy and are made with nature-based fabric Liva.

They allow women to move around with spirited optimism and #freetobe in their element as well as explore life comfortably whether at work, party, lunch or a cafe.

RELATED NEWS Navyasa by Liva; Aditya Birla Group, saree brand expands retail presence

The collection features ethereal prints and chic styles. Each saree tells a colour-rich story with a modern twist.

The unique bold designs and diverse themes are designed to allow style to converge with fashion. Renowned designers Abir and Nanki, along with the internal design team at Liva have been instrumental in bringing the collection alive.

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12 February 2022, Mumbai:

D2C lifestyle brand Eske Paris plans to expand its product range coupled with domestic and international expansion.

The brand has raised a total of Rs 2.5 crore in a seed funding round led by Fluid Ventures. Angel investors Divij Bajaj and Ankit Gera also participated in the funding round.

Shivam Khanna, Founder says, digital-first brands have been able to scale to over $150million in revenue within five years. Eske Paris has the depth, hunger, and commitment to improve this and build one of the largest global D2C brands of the decade.

The pandemic has led to certain structural shifts in consumer choices and shopping behavior in India.

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Millennials are shifting towards premium products, a trend that is set to accelerate in the coming decade adds Khanna. Eske mainly operates through its own website and other e-commerce marketplaces.

The brand has made a profit this year and aims to double its growth in the coming year.

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*Figures mentioned in the above article have been sourced from Fashion Network article.

11 February 2022, Mumbai:

Expanding her bridal wear range, designer Anita Dongre has launched Spring/Summer 2022 bridal and occasion wear collection.

Tilted ‘Paradise Found’, the collection is inspired by the interconnectedness of nature and features bright printed easy to wear lehengas. The pieces are versatile and re-wearable and suitable for large or small scale events.

Dongre says as a brand, their purpose lies in incorporating a lens of consciousness to all business practices.

ALSO READ: Anita Dongre believes the epidemic has strengthened her dedication to bridal clothing

Each policy is continuously reviewed with the best in practice and adapted and improved upon to meet own goals of energy consumption, carbon efficiency and repurposing resources. With each new update, the brand is taking strides towards its sustainability goals.

Guided by a carefully cultivated vision that sees sustainability as a tool of empowerment, Anita Dongre has set forth several initiatives that benefit rural women and local artisans while reviving and sustaining Indian handcrafted traditions.

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17 February 2022, Mumbai:

Language has launched a new casual footwear collection named Drivers for Men. The collection includes footwear shaped from premium suede or grain leather with rubber-grommet soles, assuring comfort within luxury.

Drivers from Language are versatile and comfortable for casual outings. Some drivers are a combination of suede and grain leather, saddle detail, and rubber sole. There are drivers designed to be a head-turner, crafted from authentic suede leather and elevated by a diverse colour palette.

Hand-stitched with fine grain leather, and rubber sole for everyday use, the footwear is made of soft suede and designed with metal trims. They are available at Language’s exclusive brand outlets in Chennai and Hyderabad and in more than 200 multi-brand outlets across the country.

Language’s shoes are crafted with artisanal precision and offered at fair prices. Its factories use clean energy and non-polluting manufacturing processes. Its expert craftsmen ensure that every shoe they make stands toe-to-toe with ones that are made in Italy.

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14 February 2022, Mumbai:

Against Rs 68 crore net loss posted in the third quarter of previous fiscal 2020-21.

Arvind Fashions posted a net profit of Rs 6 crore in the third quarter of fiscal 2021-22 that ended December 31, 2021.

The company’s exit from certain brands and businesses to focus on only six marquee brands including US Polo Association, Arrow, Flying Machine, Calvin Klein, Tommy Hilfiger and beauty brand Sephora helped it gain profits and tap growth. Arvind Fashions's revenue grew 30 per cent on a year-on-year (YoY) basis to Rs 1,008 crore in Q3 of FY'22 from Rs 773 crore in Q3 of FY'21.

Shailesh Chaturvedi, Managing Director & CEO, Arvind Fashions says, the company was able to achieve strong results due to its sharp execution in retail channel that resulted in over 40 per cent like-to-like (LTL) growth and continued momentum in online channel, leading to EBITDA margins expansion by 200 bps.

They hope to deliver sustainable profitable growth over a long term by de-leveraging growth and focusing on six high conviction brands. Meanwhile, the company's net debt stood at Rs 430 crore, lower by roughly Rs. 500 crore compared to March 2021.

10 February 2022, Mumbai:

Despite the third COVID-wave led uncertainty, footwear brand Bata India looks forward to quick recovery post pandemic.

The brand reported nearly three-fold increase in consolidated net profit at Rs 72.32 crore for December quarter 2021-22.

Revenue from operations increased Rs 841.30 crore during the quarter under review as against Rs. 615.62 crore.

Total expenses during the quarter reached Rs 757.54 crore as against Rs 588.10 crore in the year-ago period. The brand witnessed a significant improvement in customer sentiment during the quarter.

It also expanded its new franchise stores and multi-brand outlets. In all Bata India opened 34 new franchise stores, expanded availability via a distribution channel that scaled up to over 1,000 towns during the quarter.

Helped by its continued focus on expansion of franchise stores and MBOs, Bata India’s sales have reached in its sales reaching pre-COVID levels while revenues surpassing the mark.

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