16 March 2023, Mumbai 

The All India Garment Manufacturers & Vendors Association (AIGMVA) has called for Future Group owner Kishore Biyani to pay the Rs 200 crore owed to its members since 2019, as per news published in Business Standard.

The AIGMVA, made up of approximately 350 members across various states in India, has threatened legal action if company fails to clear their dues.

The failure to pay has caused significant issues for the garment producers and vendors. Many had to take out bank loans to fulfill Future Group's orders, the banks are hounding the manufacturers and suppliers for default and refusing to offer more loans. This situation has left more than 100,000 people and their families, as well as other stakeholders, on the verge of joblessness and starvation due to Future Group.

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13 March 2023, Mumbai

Sai Silks Kalamandir Limited (Kalamandir),an ethnic wear retailer, has expanded its retail footprint in South India with the opening of a new store in Bengaluru, Karnataka. This marks the company's third store in the city and this store was inaugurated by popular actor Kichcha Sudeepa.

The new store spans four floors and occupies an area of more than 10,000 sq ft. It is located at Kalyan Nagar in Bengaluru and features a wide variety of contemporary sarees, including tusser, silk, kota, kora, khadi, among others.

Sai Silks (Kalamandir), the company's diverse offerings, which include ultra-premium and premium sarees, have established it as an ethnic fashion authority. Kalamandir ‘s Endeavour is to open stores in the same city to efficiently manage stores and inventory, and to tap the purchasing power of customers with a cluster-based model. The Kalamandir stores provide a unique experience and customer service, which combined with our inventory and variety of SKUs that it offers enables to attract and retain a growing customer base.

Sai Silks currently operates 54 brick-and-mortar stores in South India, with its flagship clothing brand named Kalamandir. The business has retail outlets in states including Karnataka, Telangana, Tamil Nadu, and Andhra Pradesh.

The company's expansion in South India reflects its efforts to meet the growing demand for ethnic wear in the region and offer a unique shopping experience to its customers.

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07 March 2023, Mumbai 

Garment and textile manufacturers in Ludhiana, Punjab are expressing their frustration over the state government's failure to revive a scrapped textile park project in the city's Mattewara area.

The project was cancelled by the Punjab government in July 2022 and no efforts have been made to find an alternate location for it. Businessmen are urging the state government to make efforts to set up the textile park in Ludhiana, where there is ample land available. The chairman of Apparel Technology and Common Facilitation Centre, Vinod Thapar, stated that the textile park project, which had a budget of thousands of crores already earmarked by the Centre, would have been a game-changer for the textile and garment industry in Ludhiana. Harish Kairpal, finance secretary of Knitwear Club, added that the industry would not accept the project if it were located outside of Ludhiana, and urged the chief minister to immediately form a panel to ensure that the textile park project sees the light of day.

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15 March 2023, Mumbai

Indian youth fashion and apparel brand, Wrogn, co-founded by cricket superstar Virat Kohli, has launched a limited-edition capsule in collaboration with the Virat Kohli Foundation.

The range, featuring gender-neutral and edgy designs, is part of a fundraising initiative for the foundation’s animal welfare and sports welfare programmes. The collection, starting at Rs. 1799, includes t-shirts, hoodies and denim jackets, and has been designed by Bollywood filmmaker Karan Johar and rapper Badshah, blending their signature styles with elements from the foundation's work.

The collection is available in 20 cities across India through Wrogn’s exclusive brand stores, as well as at Shoppers Stop and Pantaloons, and can also be purchased online. In a statement, Kohli expressed his excitement over the partnership, stating, "This collaboration is a testament to the power of coming together for a greater cause and is set to make a significant impact in the lives of those who need it most".

Universal Sportsbiz Pvt. Ltd.’s Co-founder and COO, Vikram Reddy, added, “This collection is a testament to our commitment to social responsibility and giving back to the community." The brands under Universal Sportsbiz are retailed at over 350 points of sale in 144 cities in India and plans to expand its reach to over 1000 points of sale in the next 2-3 years.

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 12 March 2023, Mumbai 

India is home to 36 per cent of the world’s billionaires, these are the new Maharajas that are punters of all things luxury. According to the Frank Knight 2022 report, India ranks third globally in terms of billionaires, after US and China. A recently published Credit Suisse report corroborates – the number of Indian millionaires will increase 105 per cent in the next three years.India’s GDP is the fifth largest and defying global recession, continues with a growth of 7 per cent in 2023. Arecent EY report states, India’s GDP will reach $26 trillion and per capita income will touch $15,000 by 2047, placing it among the top developed economies. With such prosperity, can global luxury brands stay away?

The Indian luxury market is poised to grow 3.5 times its current size and reach a value of $200 billion by 2030, states a report from Bain & Company. The luxury market is being driven by the spurt of growth of ultra-high net worth individuals, who are valued at over $30 million in assets. The ultra-rich grew 11 times more in India in the last decade, spanning Tier I, II, III cities. Despite the current retail inflation, India’s luxury goods market generated revenue worth $7.5 billion in 2022.

Gold rush for international luxury brands

Iconic French luxury department store Galeries Lafayette announced its debut in India in partnership with Aditya Birla Fashion Retail. Offering a portfolio of over 200 luxury labels, Galeries Lafayette’s first stores opens in Mumbai and Delhi. Balenciaga is also ready to plunge in to the demand for luxury in India with the help of Reliance Brands and will open its first store in mid-2023. The Kering Group has had a robust relationship with Reliance Brands as it has already met success with the introduction of Valentino, Burberry and Jimmy Choo. Reliance Brands is perhaps the single largest retailer of luxury couture brands in India, with nearly 35 popular names under its umbrella, including Tiffany & Co., Salvatore Ferragamo, Ermenegildo Zegna, Tory Burch, Tod’s, Versace, Michael Kors and Bottega Veneta. The market's largest segment is luxury watches and jewelry with a market volume of $2.24bn in 2023.

Luxury sectors that top growth in India

Luxury homes have been the ultimate lifestyle statement and whilst the India neo-rich can’t claim heritage palaces, they are buying of luxury properties, particularly in metros, Tier 2 towns and at holiday destinations. Whilst 11 per cent of the wealthiest of Indians prefer owning luxury homes abroad, Mumbai, Delhi, Bengaluru, Hyderabad and Goa remain the top five Indian places for luxury homes, farm houses and holiday villas.

Luxury cars are another segment signaling excellent growth prospects. The case in point here is the year 2022. 38,000 luxury vehicles were sold in India that year, registering a 50 per cent rise compared to 2021.

Experiential luxury has really taken off amongst well-heeled Indians as they seek exclusive and customized experiences in the most exotic settings. Be it a personal holiday or a wedding, luxury destinations that offer the finest and the rarest are topping the preference charts. From the finest local cuisine and libations to the best crafted décor items and luxury fashion, Indian travellers are spending on travel experiences and are also showing their interest in sustainable travel.

Indians have definitely arrived in the contemporary luxury world as is evident from all major international labels are making a beeline for destination India.

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01 March February 2023, Mumbai 

Russian Kyzyl, a direct-to-consumer (D2C) activewear and lingerie brand, is preparing to launch in India, aiming to revolutionize the industry with its unique designs, high-quality materials, and innovative features.

The brand, founded by Sumita Singh Shekhawat, Sakshi Singh, and Ladli Singh, is female-founded and bootstrap, and it intends to offer the technologically-savvy next-generation women in India a one-of-a-kind experience with its extensive range of seamless products.

The clothing produced by Russian Kyzyl is designed to stand out from the crowd, made from high-quality and durable materials that use knitting technology to provide extra comfort and performance benefits. The brand has invested significant effort to incorporate unique features into their products and is confident that it will set a new benchmark for other brands in the market.

Russian Kyzyl wants to fill the gap in the Indian market to be the first in India to offer a complete range of seamless lingerie and activewear products under one roof.

The female innerwear market in India has undergone a transformational change in recent years and is expected to reach $12 billion by 2025, according to a report by consulting firm RedSeer. The online female innerwear market is expected to touch $1 billion by 2025, and digital-first omni-channel players focused on innerwear, such as Russian Kyzyl find scope to be successful.

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14 March 2023, Mumbai 

Two Point Two and Six5six, two Indian streetwear brands, partnered with Reliance Industries Limited's sustainable textiles brand R|Elan Fabrics 2.0 to showcase their collections at Lakme Fashion Week x FDCI in Mumbai.

RIL's sector head for polyester, Hemant D Sharma, expressed the company's commitment to promoting sustainable fashion and providing high-quality, eco-friendly fabrics that capture the latest trends and style.

Japanese Martial Art inspiration

Two Point Two's new collection, "A Warrior's Journey," featured Japanese-inspired streetwear mixed with R|Elan high-performance fabrics and bold graphics. The gender-agnostic line drew inspiration from the Shu-Ha-Ri philosophy of Japanese martial arts, it as an expression admiration for Japanese culture.

Recycled way to streetwear

Six5six showcased "The Uniform," a travel-inspired line of street style separates with photographic prints. The collection included textiles such as denim recycled polyester and printed recycled slub jersey, emphasizing the brand's commitment to sustainability.

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11 March 2023, Mumbai 

Spanish fashion retailer Mango is planning to open 35 new stores in India in 2023, bringing its total number of stores in the country to 110.

This expansion in India is part of Mango's global growth strategy, which aims to establish a strong presence in key markets worldwide. India is one of the fastest-growing fashion markets in the world, and Mango sees significant potential in the country's increasingly fashion-conscious consumers.

Mango's expansion in India is part of a larger trend in the fashion industry, as brands look to tap into the country's growing middle class and increasing consumer demand for fashion. With its continued focus on quality and affordability, along with a growing commitment to sustainability, Mango is positioning itself for long-term success and continued growth in India and other key markets around the world.

Founded in Barcelona in 1984, Mango has become a well-known brand in the fashion industry, with a strong reputation for producing stylish and trendy designs at affordable prices. Mango's commitment to sustainability and ethical practices has also contributed to its success, with initiatives like the Take Action program aimed at reducing waste and promoting responsible practices.

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24 February 2023, Mumbai 

The contribution of online retail to the total retail market in India is projected to increase to 10.7 per cent by 2024 when compared to 4.7 per cent in 2019. So say Anarock and Retailers Association of India.

On the other hand, offline retail will hold approximately 89.3 per cent of the total Indian retail market by 2024 as against 95.3 per cent in 2019.

In 2020, category-wise consumer electronics and apparel held the largest share in e-commerce retail at 40 per cent each followed by food and grocery and jewellery at seven per cent and furniture at two per cent.

Despite the rising penetration of online retail in the total organised market, India continues to be a dominant offline retail market. Online retail continues to command a very small pie of the overall business. The organised retail sector is projected to grow at a compound annual growth rate of 25 per cent.

In terms of private equity (PE) investments, while PE investments have recovered, they have not reached pre-pandemic levels. PE investments in retail of the total PE investments in real estate have decreased to six per cent in the year 2022 from 16 per cent in the year 2019.

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13 March 2023, Mumbai

The Aditya Birla Group-owned department store chain Pantaloons has achieved a significant milestone with the opening of its 100th store in Thrissur, Kerala in South India.

With the addition of the Thrissur store, Pantaloons now operates 344 stores across more than 170 towns and cities in India.

Pantaloons is a unit of Aditya Birla Fashion and Retail Ltd. (ABFRL), which acquired the retailer from the Kishore Biyani-run Future Group in May 2015. Today, the department store chain offers over 100 licensed and international brands at its outlets, including its exclusive in-house brands for men, women, and kids.

Pantaloons' milestone achievement highlights the continued success of ABFRL in expanding its presence in the Indian retail market and providing consumers with a diverse range of fashion choices. ABFRL has an even more extensive network, with 3,212 brand stores across the country, and a presence in 31,000 multi-brand outlets and over 6,800 points of sale in department stores throughout India.

ABFRL's portfolio of brands includes Louis Philippe, Van Heusen, Allen Solly, Peter England, The Collective, Simon Carter, American Eagle, Ralph Lauren, Hackett London, Ted Baker, and Fred Perry. Additionally, ABFRL has recently made strategic investments in the branded ethnic wear business, with acquisitions of Jaypore, Shantanu & Nikhil, Sabyasachi, and Tarun Tahiliani.

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10 March 2023, Mumbai 

Indian designer Sanjukta Dutta's latest collection "CHIKI-MIKI" made a mark at the Paris Fashion Week 2023, held at Le Salon des Miroirs on March 3rd.

The collection, comprising of Mulberry Silk designer ensembles, celebrates the beauty and sensuality of women on their special occasions. Sanjukta Dutta's meticulous attention to detail is reflected in her handmade wonders, each taking a minimum of 25 days to finish. The collection features a range of mid-tones, dark ombres, and pastels, all woven from rare and high-quality Mulberry Silk found only in Assam. Her designs, infused with traditional Indian handloom techniques, ensure that contemporary ethnic ensembles are available for women from all walks of life.

Sanjukta Dutta has already made her mark in the fashion industry with her participation in the top-known fashion shows globally. She was the first Assamese woman designer to showcase her collection at the Lakme Fashion Week and debuted at the New York Fashion Week last year.

Her latest collection "CHIKI-MIKI" celebrates the vibrant colors and festive accents of spring, perfectly blending the taste of contemporary wardrobe sensibilities with the indigenous cultures of Assam.

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Flexnest has forayed into athleisure clothing with the launch of its new range of workout clothes.

The initial portfolio of active workout clothing brings to female customers a premium range of leggings, sports bras, capris, and vests. The unique athleisure clothing is made available in all sizes ranging from XS, S, M, and L to XL in three popular colors – black, green, and blue.

The new offerings are aimed at enabling women in their bid to feel more comfortable and at ease during training and workout sessions. The brand’s innovative SuperFlex fabric is not only effective during workouts but equally comfortable to sport as loungewear.The unique fabric, adaptable to all needs, is engineered and specifically tailored to give customers the feeling of a second skin with all the coverage one needs when moving.

Built for the body in motion, Flexnest, which opened two years ago, now wants to focus on growing further with the launch of its active wear.

The athleisure category is one of the fastest-growing categories in India, growing at 15 per cent to 20 percent year on year. Being a millennial-driven trend, athleisure is growing at a phenomenal rate not only in urban cities but also in tier II and tier III regions.The size of the segment is over Rs 54,000 crores and growing rapidly.