E-commerce giant Amazon India has launched a $250 million (Rs 1,873 crore) fund to help start-ups, entrepreneurs with digitization process and technological innovations. As per Fashion Network, the Venture Fund will invest in technology-led start-ups

At the Amazon Smbhav Summit 2021, Amit Agarwal, Global Senior VP and Country Head, Amazon India said, the launch of Amazon Smbhav Venture Fund aims to attract best ideas and empower entrepreneurs in the country to partner in this vision. Additionally, its initiatives to on-board 1MM offline shops on Amazon India and digitally empower the North East region will accelerate the progress towards a digital and self-reliant India, he added.

Amazon Smbhav Summit 2021 four-day virtual event is currently underway and concludes on April 18.

Ratings agency Crisil expects malls revenues to remain lower than their pre-pandemic levels despite a healthy rise expected in their toplines this fiscal .

The report states, shopping malls' revenue is likely to grow by 45-55 per cent in FY22 after the 45 per cent dent in the previous fiscal due to the lockdowns.

Topline is likely to remain at 80-85 per cent of pre-pandemic level. Curbs to control the second wave will affect retail sales but the debt servicing capability of the malls is not likely to be impacted because of strong sponsors and healthy liquidity profiles, says the report.

Retail sales are expected to be 90 per cent of pre-pandemic levels for the second half of this fiscal, which may not warrant rental waivers, says Anuj Sethi, Senior Director, Crisil..

This would minimize the impact on rental income of mall owners, he said, adding that accelerated vaccinations are crucial to retail sales revival, especially for non-essentials.

The agency said recovery in retail sales will not be uniform, and malls in Maharashtra, which account for 35-40 per cent of the revenue in the agency's universe of 14 rated malls, will be impacted the most because of the mini-lockdowns currently in place.

Benetton India has joined hands with Timex India to launch an exclusive range of watches in the Indian market. The collaboration is a part of a licensing deal where Benetton India will be creative inspiration of the range and Timex India will spearhead the overall designing, manufacturing and distribution. The range will be launched in the second quarter of the current financial year.

Sundeep Chugh, Managing Director and Chief Executive Officer Benetton India, said, low category penetration allows the company to fill the market with products from his brand which currently holds a robust footprint in apparel and accessories category.

Sharmila Sahai, Managing Director, Timex India said, this partnership will help the company to strengthen its fashion-forward customers base and widen product assortments. It will increase the company gain more preference amongst the youth segment across important markets – metros and Tier I, II cities by bringing the best of the craftsmanship, design-oriented, style innovative and reliable fashion watches.

Amazon has challenged the Delhi High’s court stay on a single judge’s order restraining Future Retail from going ahead with its Rs 24,713 crore deal with Reliance Retail to sell its business.

On March 22, the Delhi HC stayed a single judge order restraining Future Retail (FRL) from going ahead with the deal, which was objected to by US-based e-commerce giant Amazon.

A division bench of Chief Justice D N Patel and Justice Jasmeet Singh also issued notice to Amazon on Future Group's appeal challenging the single judge's March 18 judgment on the deal by which all the objections raised by them were rejected.

It also stayed the single judge order to attach Future Group's Kishore Biyani assets and others directing them to appear in court on April 28.

The bench stayed the single judge's direction imposing a cost of Rs 20 lakh on the Future Group as well as its directors, asking them to deposit it in Prime Minister's Relief Fund within two weeks for being used for providing Covid-19 vaccination to senior citizens of Below Poverty Line (BPL) category of Delhi.

The single judge's order had come on Amazon's plea seeking direction to order enforcement of the award by Singapore's Emergency Arbitrator's (EA) on October 25, 2020, restraining Future Retail from going ahead with its Rs 24,713 crore deal with Reliance Retail.

International luxury brand Rico Desgaste plans to introduce its apparel range in India. The brand sells premium and luxury apparel at affordable rates. It manufactures apparels for both teenaged and adult men and women and offers a huge variety as per latest fashion trends. The brand range includes T-shirts, shirts, jeans, facemasks, and sunglasses, etc. Each of these product is available in all sizes.

Rico Desgaste entirely focuses on luxury and strives to provide all sorts of clothing materials to its customers. It strives to make sure that people are comfortable in their clothes and offers amazing design, style, and colors. To date, the brand has lived up to its tagline of ‘Stop Wishing. Start Living’ by helping many consumers feel confident about themselves. As a result, the brand's popularity has increased by many folds on the international level.

Bengaluru-based fashion company Universal Sportsbiz is raising Rs 30 crore in debt funding from independent corporate trustee Vistra ITCL (India) on behalf of Spark Alternative Investment Trust. According to the Ministry Of Corporate Affairs filing, Universal Sportsbiz will allot 300 redeemable and non-convertible debentures (NCD) with a face value of Rs 10 lakh per share to raise a total of Rs 30 crore.

USPL was founded by Anjana Reddy in 2012 and is backed by ecommerce giant Flipkart, venture capital fund Accel as well as celebrities such as cricketers Sachin Tendulkar and Virat Kohli.

USPL’s portfolio of brands includes WROGN, a men’s casual wear brand; Imara, a women’s contemporary ethnic fashion brand; and Ms Taken, a women’s western wear line. The company has forged multiple partnerships with sports and movie personalities to co-create these apparel brands, which are sold online as well as through the retail channels.

Nearly 67 per cent of urban Indians plans to switch to online shopping post pandemic, says latest research report by YouGoy. The new report offers an overview of changing consumer attitudes and behaviours in 17 global markets. . It says, four out of five urban Indian consumers changed their regular shopping habits during the pandemic. They reduced their consumption of junk food and increased fresh fruit and vegetable consumption.

They also pledged to focus on sustainability and support local businesses once the pandemic has ended. Online shopping of groceries: either through delivery or click & collect services remained as popular as in store purchases during the pandemic In India, there is a 37 percentage point difference between those who bought groceries online using the delivery option (50 per cent) and those who picked it up (13 per cent).

Urban Indians were eating more dairy items (53 per cent) while consumption of chilled ready meals remained static (27 per cent increase vs 28 per cent decrease in consumption). Around 36 per cent of Indian consumers reported a decrease in their purchase of personal care/cosmetics products. On the other hand, 70 per cent of respondents said they bought more cleaning products during the pandemic.

Flagship brand of Kewal Kiran Clothing (KKCL), Killer has launched a new store in Patna. The store offers a wide range of denim, casual wear and lifestyle products, crafted for the youth of today.

Launched in 1989, Killer focuses on 16-30 years age group. The product portfolio includes men's ready-to-wear jeans, trousers, cargos, capris, shirts, jackets, tee-shirts, inner-wear, footwear, eye-wear, personal care products and other addictive accessories. Since 1994, Killer is also being exported to countries in the Middle-East, USA, Africa and South-East Asia.

Hemant Jain, Director, KKCL says, over the last two decades, Killer’s design team has constantly evolved and delivered contemporary fashion-trends. Innovations in style, in designs and in crafting our products have all contributed to brand loyalty/ Currently with over 320+ retail stores spread across India, Killer is also retailed through leading modern retail stores like Shoppers Stop, Lifestyle and also has good online presence through e-commerce platforms.

Home-grown affordable luxury fashion brand Qua has opted for zero plastic packaging for its clothing products. The brand ships all online orders in 100 per cent recyclable cardboard packaging. Another way it ensures sustainability is by downsizing the manufacturing of clothes. Qua makes clothes in small batches, instead of stocking warehouses by analyzing old data and predicting demand.

The brand also works towards minimizing the usage of polyester. It chooses premium fabrics like Turkish cotton, viscose, linen and wool blends, as they are biodegradable and offer optimal breathability. Qua’s blazers are lined with 100 per cent viscose instead of polyester, while the collection of dresses and co-ords are 100 per cent viscose and cotton.

Rupanshi Agarwal, Founder and CEO, says, the its digital platform, the brand also tries to educate its customers about sustainable practices like slow fashion and the importance of making eco-conscious choices that are less detrimental to the environment.