12 February 2022, Mumbai:

Tata Group retail firm Trent Ltd plans to set up 425 fashion stores by March 2022. The company’s consolidated net profit grew by 43 per cent year-on-year in the third quarter ended December 2021 compared to net profit of Rs 64 crore in the October-December period of the previous fiscal, the company.

The company's revenue from operations grew toRs 1,499.08 crore during the quarter ended December 2021 as against Rs 853.63 crore in the corresponding period of previous fiscal.

Trent expenses stood at Rs 1,383.62 crore in the quarter as against Rs 3,175.07 crore in the same time last year.

ALSO READ: Arvind Fashions posts Q3 FY22 results

Established in 1998 as part of the Tata group,

Trent Ltd operates Westside chain, a chain of fashion retail stores, Trent Hypermarket, which operates in the competitive food, grocery, and daily needs segment, Landmark stores, and Zudio.

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11 February 2022, Mumbai:

Launched in February, the Initial Public Offer of ethnic wear brand Manyavar’s owner Vedant Fashions was oversubscribed 2.57 times with significant interest from institutional investors but less interest from retail investors.

The Rs 3,150 crore IPO was oversubscribed 7.5 times by institutional investors. Its wealthy investor portion was oversubscribed by just over one time while the retail portion was significantly undersubscribed by 40 per cent.

The Kolkata-based business received over 2.5 lakh applications for the IPO and set the price band between Rs 824 and Rs 866 per share. Currently valued at Rs 21,000 the business operates ethnic wear brands including Manyavar, Mohey, Twamev, Manthan, and Mebaz.

ALSO READ: Manyavar owner-Vedant Fashions IPO: Stock listing on Feb 16

The business is expected to announce share allotment on February 11 as the IPO was entirely an offer for sale, the business itself will not receive any of the proceeds.

The issue will have a weak listing as the offer’s price range was at premium at just Rs 8.

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10 February 2022, Mumbai:

Many designers have supported the collaborative, multi-media format for the upcoming joint edition of FDCI and Lakmé Fashion Week.

The upcoming edition of FDCI x Lakmé Fashion Week will feature a mix of online and offline events due to the ongoing pandemic and the response to its previous edition.

The unified fashion week allows for a greater traction to the designers and their clothes, says Designer Neeta Lulla.

Two great entities will come together and put in all the resources for the benefit of everyone in the industry, adds designer Manoviraj Khosla.

The FDCI also held its first ‘FDCInsights 3.0’ online discussion on January 27 featuring speakers including designers Amit Aggarwal, Namrata Joshpura, Nitin Bal Chauhan, Payal Jain, and Shantanu and Nikhil as well as model Lakshmi Rana.

The speakers discussed on whether fashion films take a backseat if physical shows take prominence and shared their insights for the event which was broadcast on the FDCI’s website.

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12 February 2022, Mumbai:

Denim maker Nandan Denimposted a net profit of Rs 20 crore ($2.7 million) for the quarter ended December 2021, as against a net profit of Rs 3 crore it posted in the year-ago period.

The company’s revenue in the third quarter of the current financial year rose to Rs 583 crore as against Rs 312 crore revenue posted in the corresponding quarter of the previous fiscal year.

Jyotiprasad Chiripal, Managing Director, says, despite being obstructed by headwinds of Covid-19 and higher raw material prices, the company reported healthy revenue growth. Further, with the increase in capacity utilization of denim and shirting division coupled with rationalization of cost helped to sustain operating margins.

ALSO READ: Arvind Fashions posts Q3 FY22 results

Going forward, the company aims to ensure the sustainability of the growth in turnover and profitability, he adds

As part of Ahmedabad-based industrial conglomerate Chiripal Group, Nandan Denim commenced its operations in 1994 with textile trading business and forayed into textile manufacturing in 2004. The company currently engages in manufacturing of denim fabric, shirting fabric and yarn.

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*Figures mentioned in the above article have been sourced from FASHION NETWORK article. 

Expecting fewer disruptions due to the third COVID-19 wave, retailers across India plan to accelerate their expansion plans. Many top retailers including Reliance Retail, Shoppers Stop, Aditya Birla Fashion & Retail (ABFRL) recorded better than expected pre-COVID sales during the October-December quarter of this fiscal. Reliance Retail and ABFRL reported their highest ever quarterly revenue and profit.

Sales grow across all channels

Most of this growth was driven by the festive and wedding seasons. Retailers witnessed a growth in both store and e-commerce revenues as online sales surged due to the pandemic. Reliance Industries’ witnessed around 95 per cent of pre-COVID levels’ footfalls in stores as its retail business recovered completely. The company witnessed rising demand across consumption baskets, notes V Srikanth, Joint Chief Financial Officer. Revenues of Reliance Retail excluding petro retail and connectivity businesses grew by 90 per cent in the December quarter. The company’s consumer electronics, apparel and footwear business doubled while grocery sales also grew by double digits. The company’s earnings before interest, tax, depreciation and amortization grew by 23.8 per cent to Rs 3,822 crore

Sales of Aditya Birla Fashion & Retail grew 55 per cent while Bata India’s sales surpassed pre-COVID levels. Gunjan Shah, CEO, Bata India, said, the company expects consumer sentiment to rebound due to the decline in COVID cases and the vaccination of 15-18 year olds. Titan’s revenue grew 36 per cent as its company’s jewelry business recorded highest growth with other businesses also surpassing pre-COVID level sales.

Diwali brings back smiles

Diwali and post that sales turned out to be good for retailers in India, says CK Venkataraman, Managing Director, Titan. Most retailers witnessed a surge in store footfalls as infections declined and restrictions eased. This also resulted in lowering of discounts and a reduction in the number of sale events held.

Growth fuels expansion plans

Encouraged by growth, most retailers have stepped up their expansion plans. Shoppers Stop announced plans to expand its store network to Tier II markets. These markets offer a huge growth opportunity for retailers, says Venugopal Nair, CEO. The departmental store chain plans to open 8-10 stores this fiscal and another 10 in fiscal 2023.

Reliance Retail also plans to accelerate its growth momentum and expand operations as the situation normalizes, says Gaurav Jain, Head-Strategy and Business Development. The retailer aims to accelerate the pace of its new store rollout. It opened 1,700 stores during April-December 2021.

10 February 2022, Mumbai:

Owner of the Go Colors brand, Go Fashion India reported a 33 per cent rise in its Q3FY22 net profit.

The company’s profit for the quarter ended December 31, 2021 rose to Rs 24 crore as against Rs 18 crore for the corresponding quarter previous year.

The company’s revenue for the quarter rose 47 per cent to Rs 142 crore, as against Rs 97 crore it posted in the year-ago period.

Its EBITDA also increased by 72 per cent to Rs 52 crore, notes Gautam Saroagi, CEO,

The company continues to expand and strengthen its bottom wear portfolio by launching new products across ethnic, western, fusion, loungewear, work-from-home collection & athleisure.

In FY22, it added 27 exclusive brand outlets (EBO) taking the total to 476 EBO stores and also introduced 11 new products to the portfolio.

Go Fashion is one of the largest women’s clothing brands in India and its brand Go Colors specialises in women’s bottom wear including leggings and trousers in a wide variety of colors.

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

12 February 2022, Mumbai:

For the third quarter ended December 31, 2021, Indian Terrain Fashions posted net profit of Rs. 1.48 crore as against net loss of Rs. 1.96 crore for the period ended September 30, 2021.

The company’s total income grew to Rs. 103.73 crore during the period ended December 31, 2021 as compared to Rs. 99.14 crore during the period ended September 30, 2021.

Its EPS surged toRs. 0.36 for the period ended December 31, 2021 as compared to Rs. 0.48 for the period ended September 30, 2021.

On a year-on-year (YoY) basis, the company posted a net profit of Rs 1.48 crore during the period ended December 31, 2021 as compared to a net loss of Rs 7.82 crore reported during the period ended December 31, 2020.

ALSO READ: TCNS Clothing Company Q3FY22 results

Its total income grew to Rs. 103.73 crore during the period ended December 31, 2021 as compared to Rs.71.18 crore during the period ended December 31, 2020.

Its EPS increased to Rs.0.36 for the period ended December 31, 2021 as compared to Rs.-1.90 for the period ended December 31, 2020.

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*Figures mentioned in the above article have been sourced from Equity Bulls Money Control ET article. 

10 February 2022, Mumbai:

Hosiery firm Rupa and Company posted 34 per cent rise in Q3 net profit this fiscal.

The company’s profit grew to Rs 58.3 crore in the current quarter as compared to Rs 43.4 crore in the same period previous year.

Revenue increased 25 per cent during the quarter to Rs 433.2 crore as compared to Rs 345.6 crore in the similar previous period.

EBITDA margins increased 26 per cent to Rs 81 crore during the quarter.

As per Dinesh Lodha, CEO, the company continues to build upon the momentum in its growth trajectory during the quarter.

ALSO READ: Rupa & Company's Prahlad Rai Agarwala has been awarded the Padma Shri Award

Starting as a dream in the far-sighted mindscape of three men of vision and enterprise, the brand has evolved to become the frontrunner in India and a leading player in global markets with far-reaching footprints and millions of satisfied customers.

Rupa is today the one of the leading knitwear brand in India, covering the entire range of knitted garments from innerwear to casual wear.

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

07 February 2022, Mumbai:

Amazon India has signed an MoU with Karnataka State Rural Livelihood Promotion Society (KSRLPS) to support the growth of women entrepreneurs.

As per the MoU, Amazon India would launch Sanjeevini-KSRLPS in its marketplace and extend benefits of the 'Saheli' program to train and empower thousands of women entrepreneurs to come online and access a wider market for their products, the company said in a press release.

This association would help bring in regional selection and unique products from categories like grocery, home and fashion accessories made by over 30,000 women entrepreneurs and self-help groups (SHGs) associated with Sanjeevini-KSRLPS online and make them available to millions of Amazon customers across the country, the release said.

Amazon said Saheli offers extensive training and skill development workshops for its partners to help women entrepreneurs associated with them understand the nuances of online selling and develop skills and capabilities necessary to grow their business on Amazon.in.

These training workshops comprise sessions on the listing of products, imaging and cataloguing, packaging and shipping, inventory and account management, and customer servicing and offer other attractive benefits to sellers in the Saheli programincluding assisted onboarding and mentorship at no additional cost.

12 February 2022, Mumbai:

India’s most reputed and fast-growing fashion fabric brand, Donear Industries reported an 851 per cent increase in its year-on-year profit for the year ended December 31, 2021.

The company’s revenues in FY22 increased to 89.87 per cent to Rs 395 crore from Rs 208.34 crore in FY21.

Its EBITDA during the year increased by 851.43 per cent to Rs 32.78 crore compared to Rs 3.85 crore. Its Profit before Tax declined by 213.04 per cent to Rs 16.22 crore from Rs 14.35 crore.

With three decades of expertise in the textile industries, Donear is a reputed and fastest growing fashion fabric brand creating a variety of exotic suitings, trouser and shirting fabrics in India.

ALSO READ: Arvind Fashions posts Q3 FY22 results

The brands primarily caters to the middle and the premium segments with high quality apparel fabrics that are woven with natural fibres, synthetic fibres and its various blends.

As a brand, Donear has succeeded by maintaining pace with the changing demands of the local and global fashion trends, and primarily due to the company's; innovative approach in continuously developing newer products, using state-of-the-art-technology along with highly-skilled workforce, strong logistics, by being perpetually quality conscious, and thereby Creating World-Class Fabrics.

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10 February 2022, Mumbai:

Owned by SHR Lifestyle, ethnic wear brand Shree plans to expand its domestic as well as international store network.

The brand recently forayed into the UAE market launching its first store in Sharjah. It now plans to open a store in Dubai.

SHR Lifestyle is an ethnic wear manufacturer and distributor of women's clothing across India and abroad.

Its brand Shree currently operates over 100 stores across India.

The company’s products are fabricated using the top quality fabric that is bought from reliable vendors of market.

It will also launch an online e-commerce website for its UAE Customers, affirms Sheetal Kapoor, Co-Founder and Director.

Its fabrication unit is embedded with modern stitching machine and equipment to fabricate these products on industry standards.

ALSO READ: SHREE an Indian ladies ethnic wear brand expands its retail footprint

These products are highly acknowledged in the market owing to their qualities such as color, fastness, attractive pattern, appealing look, eye catchy color and long lasting nature.

The organization has appointed professional fashion designers who are familiar with the most modern stitching machine.

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04 February 2022, Mumbai:

Designer Rahul Mishra has partnered Reliance Brands to launch a ready-to-wear brand. The joint venture brand will be launched on a 60:40 basis.

The brand’s collection will focus on mindful fashion, sustainability, and inclusivity, says Mishra. The ideas from his couture collections will cross pollinate into this RTW line.

It will be an an “easy-to-wear” line of separates, with strong Indian craftsmanship, which one can mix and match with anything, like denims, he adds The range will part handcrafted and part machine-made; since it’s not custom made, various sizes will be available.

Collaborations are not new for Mishra. His earlier collaborations with footwear brands like Fizzy Goblet or Oceedee, or his debut jewellery line with Swarovski have also been hugely successful.

In the last two years, Mishra’s couture business has doubled. In 2020, he became the first Indian designer to showcase at Paris Haute Couture Week, and went on to impress critics across five seasons.

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