09 November 2021, Mumbai:

According to market participants, India's buy-now-pay-later (BNPL) sector is thriving and on track to grow tenfold in the next four years as tens of millions of online buyers are enticed by interest-free financing and fewer hassles.

According to Redseer, the BNPL market in India would grow to $45-50 billion by 2026, up from $3-3.5 billion presently. According to the research agency, the number of BNPL clients in the nation might increase to 80-100 million by then, up from the current 10-15 million.

However, because the maximum credit available on BNPL is 100,000 rupees ($1,347.89), far less than credit card offers, analysts at Macquarie Research believe it will take some time before it can disrupt the cards sector or capture market share.

In a country where hundreds of millions of people lack access to formal credit, fintech firm MobiKwik expects BNPL business to nearly double in the next two years. MobiKwik, which is funded by the Abu Dhabi Investment Authority and is one of India's top BNPL players, said revenue from the category accounted for over a fifth of its total revenue of 3.02 billion rupees for the fiscal year ended March 31.

"Today, only 60-70 million Indians have access to credit, implying that 93 percent of India lacks credit," said Upasana Taku, the firm's co-founder.

"Because BNPL transactions have increased 45X in the previous two years, it will become the company's quickest income generator.

The number of new users is rapidly increasing, and the repeat rate and average ticket amount are also increasing."

The desire for simple loans has prompted other businesses to enter the BNPL industry, with Amazon joining the bandwagon in 2020 and local payments provider BharatPe launching the service last month as the COVID-19 epidemic drove more people to online shopping.

"During the pandemic, a big number of millennials and young consumers were searching for credit and to stretch their budgets due to many anxieties in these times," explained Vikas Bansal, director of Amazon Pay India, explaining the renewed interest in BNPL.

To be sure, there are worries that the likelihood of defaults from BNPL clients with little or no credit history may be higher, and some industry experts believe that some players may not be giving correct default data to credit agencies.

A request for comment from the Reserve Bank of India was not immediately returned.

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TOP 5:

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4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

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03 November 2021, Mumbai:

For the second quarter Bella Casa Fashion & Retail’s income was Rs 68.3367 crores against Rs 23.1007 crores in the corresponding quarter of the previous year and Rs 24.5714 crores in the previous quarter.

Net profit was Rs 5.8608 crores against Rs 1.0830 crores in the corresponding quarter of the previous year and Rs 0.0911 crores in the previous quarter.

For the six month period total income was Rs 92.9081 crores against Rs 25.6351 crores in the previous year. Net profit was at Rs 5.9519 crores for the six month period compared to Rs 0.4785 crores in the previous year.

Earnings Per Share stood at Rs 5.19 for the six month period against Rs 0.42 in the previous year. Bella Casa, based in Jaipur, is a manufacturer of home textile and ethnic fashion apparel. It blends design innovation, product quality and affordable pricing.

The bed linen market in India is growing at 12 per cent a year. The ethnic fashion and apparel segment is also registering a significant upsurge in demand for high-quality, trendy, yet affordable designer apparel.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.  

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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29th October 2021, Mumbai:

Neeman’s, a homegrown footwear brand has roped in popular Indian cricketer Jasprit Bumrah for the launch of the digital campaign #ChangeTheNorm.

The philosophy behind the #ChangeTheNorm campaign apparently iterates the story of ace Indian cricket team bowler Jasprit Bumrah, relating it to the fame & glory this cricketer has shot into through a brief period of his career.

By partnering with Bumrah, Neeman aligns its brand ethos & its core signature by partnering with Bumrah as a tokenism of thinking out of the box and continuously striving to push boundaries. True," Impossible has word possible in it".

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1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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6 November 2021, Mumbai:

As a sustainable alternative to high-end clothing, an Indian designer is piecing together fashion wear for men and women using discarded scraps of cloth. headquartered in New Delhi Doodlage, Kriti Tula's fashion line, gathers fabric waste from factories that have been abandoned due to small flaws and stitches it together to make flowing skirts and sarees that sell for around $100 each.

Tula said the label, which includes a men's collection with patchwork shirts with denim strips, came about as a result of her concern about global warming and the fashion industry's environmental effect.

The designer claimed she had experienced the environmental cost of high fashion firsthand while working at large textile export houses: waste of material and water, as well as chemicals generated during the manufacturing process.

Tula told Reuters during her workshop in the capital that "what we wear eventually affects everything we eat, consume, and breathe." According to the United Nations Environment Programme, the $2.4 trillion global fashion business contributes for 8-10% of global carbon emissions, which is more than all international flights and marine shipping combined.

The industry is also the world's second-largest water user, producing around 20% of the world's wastewater, according to the report.

Tula explained that obtaining the scraps proved difficult at first, and that the product pricing had to be more than what many purchasers thought was reasonable for recycled clothing. Her company has gradually attracted like-minded vendors and collaborators, she added. Her label manufactures soft toys, bags, wallets, and paper out of surplus fabric in addition to clothing.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.  

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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01 November 2021, Mumbai:

After receiving widespread criticism, fashion company Sabyasachi pulled its Mangalsutra campaign on Sunday, October 31, stating that it was "very regretful" that the commercial offended a sector of society.

The popular designer company has come under fire on social media and from a portion of the ruling BJP's legislators for an advertisement that depicted a woman wearing a low-neckline dress and appearing alone and in an intimate position with a man.

The removal occurred just hours after Madhya Pradesh Home Minister Narottam Mishra gave Sabyasachi Mukherjee a 24-hour deadline to withdraw the advertisement, which depicts mangalsutra in an "objectionable and vulgar" manner or face statutory action.

"The Mangalsutra campaign aims to talk about inclusivity and empowerment in the context of making legacy and culture a dynamic conversation. We are profoundly disappointed that the campaign, which was supposed to be a celebration, has instead offended a segment of our society. As a result, Sabyasachi has chosen to end the campaign "Sabyasachi in an Instagram post.

Following the publication of photos of the advertising on Instagram, there was a firestorm of criticism, with some users accusing them of being anti-Hindu culture and obscene.

On Twitter, hashtags like #Sabyasachi Insults HinduCulture and #BoycottSabyasachi was trending. Last week, FMCG and wellness company Dabur India made an unqualified apology for their advertisement on the Karva Chauth festival depicting a lesbian couple rejoicing in the Fem Creme bleach ad campaign.

Dabur also came under fire on social media and from the MP Home Minister, who issued an ultimatum on the company, which is famed for its natural wellness goods.

Mishra had told reporters in Datia, Madhya Pradesh, that "I have already advised against such advertisements. I'm personally issuing a 24-hour ultimatum to designer Sabyasachi Mukherjee. If he does not remove this offensive and obscene advertisement, a case will be filed against him, and legal action will be done.

The police would be dispatched to the scene of the crime "On Sunday, Mishra stated.

Tanishq, a jewellery brand owned by the Tata Group, has previously been compelled to remove an advertisement depicting an interfaith couple during a baby shower hosted by the Hindu bride's Muslim in-laws.

Manyavar, a clothing brand, was also chastised when a commercial showing Bollywood actress Alia Bhatt in wedding garb appeared to call into question an age-old practice.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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28th October 2021, Mumbai:

For the second quarter, Titan’s consolidated net profit rose nearly fourfold. Consolidated sales for the quarter grew 75.50 percent compared to the same quarter last year. Revenue excluding bullion sales grew 78 percent year on year riding on strong demand recovery across its consumer businesses.

Titan’s jewelry division is doing exceedingly well and other divisions are swiftly bouncing back to pre-pandemic levels. The jewelry division witnessed demand resurgence, registering a 77 percent rise in income compared with the year-ago quarter.

The watches and wearables business recorded an income rise of 72 percent. The eyewear business recorded an income rise of 70 percent.

The other segments of the company comprising Indian dress wear and, fragrances and accessories recorded an income of Rs 46 crores. Titan’s strong growth this quarter was underpinned by demand recovery being witnessed in all segments.

Its stores are fully operational, returning to pre-pandemic normalcy in most parts of the country with a continued focus on the health and safety of customers, business partners, and employees.

Titan's store expansions gained traction during the quarter, which was partially disrupted in the pandemic period. Titan's strong digital presence combined with trusted offline experience gives a positive outlook for the overall performance of the company for the rest of the fiscal year.

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4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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03 November 2021, Mumbai:

Tata’s retail arm Trent’s expenses during the second quarter jumped by 57 percent. And revenue from operations jumped twofold. It reported a consolidated net profit of Rs 79.99 crore for Q2. The company had posted a net loss of Rs 78.56 crore in the July-September quarter a year ago.

The second wave and its aftermath disrupted Trent’s operations in the first quarter. But there was a rapid recovery in customer offtake starting from the middle of June as business re-opened in many markets. Trent's fashion business has in particular recovered sharply and is now back to operating profitability.

However, constraints for actual opening to customers remain a challenge in the near term in the case of mall locations/ select markets. Trent is continuing to focus on building differentiated brands and strong expansion of its reach through stores and the digital platform.

The company continues to remain focused and committed to the accelerated store expansion agenda and also on the digital channel, as the online channel registered 95 percent growth in the second quarter over the previous quarter.

Established in 1998, as part of the Tata Group, Trent operates Westside, one of India's leading chains of fashion retail stores, Trent Hypermarket that operates in the competitive food, grocery, and daily needs segment under the brand name of Star banner, Landmark Stores and Zudio. The Zudio format is a value fashion business.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.  

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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29th October 2021, Mumbai:

Metro Brands has opened its 600th store in India, in Bangalore. Metro is a footwear and accessories retailer, with stores spread across 134 cities in India. The new store spread over 1,300 sq. ft, is a multi-brand outlet and retails contemporary shoe brands like Da Vinchi, Skechers, ID, Fitflop, and Crocs.

The store also offers a wide variety of economy, mid-range, and premium footwear and accessories. It houses fresh and exciting looks for casual and formal footwear and accessories, for both men and women.

This store is also the 36th store of Metro Brands and the 14th store of the brand Metro in Bangalore.

The footwear company runs four brands under its umbrella, Metro Shoes, Mochi, Crocs, and Walkway. Online marketplaces including Myntra, Flipkart, and Amazon collectively contribute 85 percent of sales whereas its own portal contributes 15 percent.

Metro plans to expand its product portfolio. In 2015 Metro Shoes signed a retail partnership agreement with Crocs to help increase the global footwear company’s presence in India. As per the agreement, Metro Shoes would open exclusive brand outlets of Crocs footwear across the country.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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23rd October 2021, Mumbai:

South Indian ethnic wear brand Kankatala Sarees has opened its first retail store in the national capital New Delhi. As per a Fashion Network report, the store will house handloom sarees from over 50 major weaving clusters across India. The store was inaugurated by Bollywood actor Karisma Kapoor.

An exclusive saree brand dealing in handwoven sarees, Kankatala Sarees was established in in 1943. The business has grown to 11 stores in Andhra Pradesh, and a flourishing online business.

Kankatala has customers who have been loyal supporters through generations, returning to the store for sarees and pavadas for every occasion in the family. Each and every saree sold by the brand is carefully handpicked by a member of the family, with equal emphasis on quality, weave, design and fabric.The brand has a major presence in southern India with 12 retail outlets in the states of Telangana and Andhra Pradesh.

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