29 December 2021, Mumbai:

Western wear brand Madame plans to increase its retail prices in India from between 11% and 12% from March 2022 due to increased distribution costs and duties. The brand is on track to reach 170 stores this fiscal.

With rising vessel costs, freight charges, and import duties, Madame has decided to raise its garment prices, ET Bureau reported. The clothing business is confident it can continue its growth trajectory in the country despite this thanks to brick-and-mortar expansion.

Opening around two exclusive retail outlets a month since March this year, the business is on track to reach a store count of 170 by the end of the current financial year. The brand is also rapidly increasing its points of sale and is eyeing double-digit growth for the coming three years.

“Obviously, the costs will go up and in the end, the customer will have to shell more money,” said Madame’s executive director Akhil Jain about the upcoming goods and services tax increase in an interview with ET Retail. “Eventually, this will disbalance the quantity that we plan.”

However, as over 97% of Madame’s inventory is priced over Rs 1,000 ($13.41) and thus already attracts 12% GST, the business will aim to absorb the new 12% GST on items priced below Rs 1,000 internally.

“This is a growing year and we want to have better sales,” said Jain. “So we will be compromising on the margins for this year. But for other companies in retail who have an average selling price less than Rs 1,000, will have to rack up the prices.”

FASHION NETWORK (The news article has not been edited by DFU Publications staff)

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DAILY NEWS:

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28 December 2021, Mumbai:

The Competition Commission of India (CCI) has warned e-commerce businesses that it will take strict action against any violations. It has urged them to adhere to regulations and expects them to bring their conduct and policies in alignment with competition law and the regulatory guidance provided through orders.

The CCI has requested e-commerce platforms to enforce self-regulatory measures under its advocacy mandate.

These measures include: data sharing, search ranking, discount policies, and user-review mechanisms, among others. Owing to their innate features, such as network effects and data-driven complementarities, digital markets typically yield high concentration and are often winner-take-all markets.

The task for CCI, like any other competition authority, is to ensure that these concentrated digital markets remain open to new entrants and that competition on and between the digital platforms is on merits. The message is that legitimate business practices will not be interfered with, but violation of competition law will be dealt with firmly.

India’s digital market was significantly boosted by the pandemic as shoppers stuck at home embraced online shopping.

However, logistics challenges expounded by Covid gave large e-commerce businesses an advantage as they had greater logistics capabilities and this led to a small number of businesses gleaning a high percentage of online sales, further solidifying their positions at the top of the market.

SOURCE: FASHION NETWORK (The news article has not been edited by DFU Publications staff)

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DAILY NEWS:

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

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

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

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

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

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28 December 2021, Mumbai:

Shares of Gokaldas Exports rallied 9 per cent to Rs 338.10, hitting a multi-year high on the BSE in Tuesday’s intra-day trade after rating agency ICRA upgraded the company's long-term rating for Line of Credit (LOC) amounting to Rs 425 crore to [ICRA] A- (positive) from [ICRA]BBB (stable).

The outlook has been revised to positive from stable. Further, ICRA has upgraded the short-term rating for the LOC to [ICRA] A2+ from [ICRA] A3+.

The stock of the textiles company was trading at its highest level since September, 2006. It had hit an all-time high of Rs 405 in May 2006. In the past three months, it has zoomed 78 per cent, as compared to a 3 per cent decline in the S&P BSE Sensex. In October, Gokaldas Exports had raised Rs 300 crore by issuing shares at a price of Rs 194.50 per share.

ICRA said that the ratings upgrade and revision in outlook to positive reflect the expected strong performance of Gokaldas Exports in the coming quarters on the back of its established market position and strong relationship enjoyed with large international customers, as illustrated by its order book position, and the healthy improvement in capital structure and liquidity position witnessed post the equity infusion in October 2021.

Gokdaldas Exports’s credit metrics and liquidity position witnessed a healthy improvement, primarily on the back of the Rs 300-crore equity infusion made in October 2021 (through the Qualified Institutional Placement route).

A portion of the funds has been utilized towards reducing debt levels, with the surplus to be used to meet incremental working capital and capacity expansion requirements.

Reduction in net debt levels, coupled with the growth in operating profits is expected to result in key credit metrics including net debt to operating profits, and PBDITA to interest and finance charges to be at around 1 time and 4.5 times, respectively, in FY2022, as per ICRA’s estimates.

Meanwhile, for the July-September quarter (Q2FY22), the company had reported a robust set of numbers, with consolidated net profit up 3-fold at Rs 28.61 crore, against Rs 8.66 crore in the year-ago quarter (Q2FY21). It posted a net loss of Rs 2.55 crore in the preceding quarter (Q1FY22).

The company’s consolidated revenue from operations during the September quarter grew 30 per cent to Rs 444 crore from Rs 342 crore a year ago. Earnings before interest, tax, depreciation, and amortization (EBITDA) jumped 63 per cent year on year at Rs 53.93 crore, margins improved 250 basis points to 12.1 per cent from 9.6 :per cent in the year-ago period.

The company said that a strong order book increased focus on augmenting capacity (up by around 30 percent) while containing costs has helped deliver this growth.

With a strong order book, the company ensured a rapid expansion of its production capacity. It managed the production value chain well by increasing manpower availability, improving productivity and on-time shipments. The management continues to focus on strengthening the order book position for the coming quarters as well, it said.

BUSINESS STANDARD (The news article has not been edited by DFU Publications staff)

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DAILY NEWS:

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

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

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

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

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

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29 December 2021, Mumbai:

Fashion rental business Flyrobe has crossed one million customers. The business services customers in 30 Indian cities and is back on track with its rental business after a lull in weddings due to the pandemic.

With increased consumer awareness of garment rental services and a greater focus on sustainable fashion in the Indian market, Flyrobe is confident of continued growth.

The main customer base is people attending weddings as such events often require an outfit that will be worn only once and is expensive.

However, many weddings were postponed in 2020 and early 2021 due to Covid restrictions, which meant people had less need to rent formal wear. For Flyrobe, a single wedding can yield around 200 orders for high-ticket garments. So the lull in weddings had a significant effect on the business’ finances.

Flyrobe had to lay off people, shut down stores. But as the next few years are predicted to see India’s fashion rental market grow significantly, Flyrobe is expecting positive growth in 2022. Flyrobe also has stores in Bangalore and New Delhi.

Several start-ups that began online have also set up an offline presence. In going online to offline, while the core of the business remains online, offline stores act as a sales touchpoint and a way of brand building.

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DAILY NEWS:

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

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

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

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

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

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28 December 2021, Mumbai:

A new Shoppers Stop store has opened in Noida taking the number of stores in the city to five. Spread over 21,000 sq ft with products from over 200 of the finest international, national, and exclusive brands spread across multiple categories. The store is designed to be child-friendly as well as provide comfort for senior citizens while shopping. The store houses key brands such as MAC, Veromoda, Cover Story, and Only, along with exclusive brands like Ashish, LIFE, Fratini, and Arcelia.

With the launch of this store, Shoppers Stop has reinstated its commitment to its customers and strives to ensure an impeccable shopping experience. With more than 183 brands launched since the pandemic, Shoppers Stop is all set to indulge customers with various beauty staples and fashion must-haves. This is Shoppers Stop’s fifth store in Noida.

The fashion and beauty destination is a bridge to a luxury brand. With this new store, the brand has enhanced its presence across 87 stores in 42 cities. Shoppers Stop omni-channel sales doubled year on year and contributed eight per cent of total sales in the second quarter. There has been improvement in key strategic pillars. Private labels grew 90 per cent year on year and were 14 per cent of sales owing to 59 per cent volume growth while the beauty portfolio contributed 17 per cent to sales.

Source: IndianRetailer

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28 December 2021, Mumbai:

Aditya Birla Fashion and Retail will set up a greenfield garment manufacturing unit in Andhra Pradesh at an investment of Rs 110 crores. The factory is likely to provide employment to about 2100 people, mostly women. The hope is to develop it into a major garment hub employing some 20,000 women. A model housing colony which can house 25,000 people will come up near the garment manufacturing unit, making it convenient for women employees.

With revenue of Rs 5,249 crores and spanning a retail space of 8.4 million square feet, Aditya Birla Fashion and Retail is India’s first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats. It brings together the learnings and businesses of two renowned Indian fashion icons, Madura Fashion and Lifestyle and Pantaloons, creating a synergistic core that act as the nucleus of the fashion businesses of the Aditya Birla Group. As a fashion conglomerate, the group has a strong network of 3,212 brand stores across the country. It is present across 31,000 multi-brand outlets and 6,800 point of sales in department stores across India. It has a repertoire of leading brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England.

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DAILY NEWS:

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

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

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

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

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

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29 December 2021, Mumbai:

Textile designer Kshitij Jalori has launched a capsule bridal line that blends traditional design with modern sensibilities. Inspired by the royal Qajar dynasty, the collection blends modern, clean silhouettes with opulent metallic hues, printed velvets, and embroidered elements.

The new line adds to the designer’s selection of fusion-style women’s ready-to-wear. Traditional textiles collating with sharp construction captures the spirit of the collection.

With its clean, structured silhouettes combined with timeless brocades and intricate embroideries, the collection is a regal take on modern minimalism. At first glance, the prints, inspired by the Qajar dynasty, give off a vintage air, but on closer inspection, boast of a myriad of flowers and birds, alongside other tropical elements which make up the defining motifs.

Along with classic bridal garments, including lehengas, the line features versatile garments which can be worn on other occasions including overcoats, jumpsuits, and structured kurta sets. Sequins and textured embroidery paired with Qajar prints give the garments a contemporary boho twist.

The collection is bridal but extends from lehengas and saris to modern silhouettes such as trenches and pantsuits and the garments can be easily be transformed from day to night, allowing more wearability and leaving room for multiple looks.

A sophisticated yet fun take on tradition, this chic collection is aimed at elevating the festive wardrobe.

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DAILY NEWS:

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

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

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

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

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

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28 December 2021, Mumbai:

Peter England has entered children’s wear, a line of clothing for boys and girls. Peter England entered India in 1997 and was acquired by Aditya Birla Fashion and Retail in 2000. With a strong foothold in the formal and causal men’s wear segments, Peter England also offers innovative collections in denims, linen, festive wear, kurtas, accessories, and more. Peter England is a mid segment brand and offers shirts, trousers, suits, blazers and accessories.

The brand also offers relaxed office wear and casual wear through its sub brand Peter England Elements. The casual wear line is slightly more eclectic with a stylish range of washed cotton shirts, denims, cargoes, jackets, sweaters and accessories.

Sub brand Peter England Party offers trendy club wear. Peter England Elite is premium formal wear. Perfect for young managers who are making their mark, Peter England Elite comes with a complete array of dapper formal shirts and trousers, sharp suits and blazers, and accessories.

Aditya Birla Fashion and Retail is engaged in providing branded fashion apparel and accessories. It operates through two segments: Madura Fashion & Lifestyle, and Pantaloons. The company’s brands include Louis Philippe, Van Heusen, Allen Solly and Peter England.

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.

DAILY NEWS:

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

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

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

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

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

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28 December 2021, Mumbai:

ITC has a slew of measures planned this includes unlocking value through the demerger of its non-cigarettes FMCG and hotels business to a possible listing. Its share price stagnated for over eight years in the Rs 200 to Rs 300 range. ITC, a Rs 53,000 crore company, has adopted a venture capitalist kind of mindset.

Delivering new products at a speed that crushes the competition is now its mantra for success. ITC is hoping for a huge revenue jump. The jump in turnover is expected to be driven by entry into newer categories and leadership in existing ones. The company is also in the process of restructuring its apparel business.

Earlier, ITC sold its apparel brand John Players to Reliance. It is investing in start-ups in the personal care segments. Also ITC Wills Lifestyle is now known as WLS. This indicates a return to nature. From fabric to threads, buttons, and labels, every garment from WLS will have of purely natural elements. All garments will be made of cotton, linen, silk or woolen materials and will be fully biodegradable. Each collection will offer a variety of garments to select from for men and women looking for original, well-made apparel that tells the story of their Indian identities in a confident yet understated manner.

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.

DAILY NEWS:

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

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

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

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

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

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28 December 2021, Mumbai:

Mensa Brands has bought denim brand High Star. This is the 14th acquisition for Mensa Brands. The Bangalore-based Mensa is India’s fastest start-up to enter the unicorn club. The six-month-old startup has acquired a series of digital first D2C consumer brands covering designer saris, men’s apparel, jewelry, smart devices, and personal care.

Since their acquisition, most of these brands have grown by 100 per cent year on year. Mensa aims at having a portfolio of more than 50 ventures across beauty, home, fashion, garden, and personal care.

High Star, founded in 2012, has a clothing line that includes jeans, jeggings, palazzos, jackets, skirts and shorts for men, women and children. Mensa will expand High Star’s presence pan India and take it global. Within the first year of onboarding, Mensa will support the brand in areas such as digital marketing, technology, working capital management, and channel expansion.

Mensa is modeled on the lines of Thrasio, an American firm that popularized the concept of acquiring small, successful brands and scaling them up through its own network and market expertise. The online fashion sector is estimated to be worth $43 billion by 2025. By then, apparel and footwear will dominate the category, accounting for nearly 77 per cent of the total market.

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.

DAILY NEWS:

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

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

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

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

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

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28 December 2021, Mumbai:

In the run-up to the Vibrant Gujarat Global Summit (VGGS) 2022, a summit on ‘Weaving Growth For Textiles’ will be organised in Surat on Wednesday. It will have deliberations on how to provide further impetus to the textiles and apparel sector.

The sessions will cover policy initiatives to redefine the textile sector, the Indian textile industry as a global sourcing hub and the future of value additions in the textile sector.

More than 1,000 delegates are expected to attend the summit that will be inaugurated by Chief Minister Bhupendra Patel. “Gujarat has a significant role in cotton production with 37 per cent of India’s total production coming from the state. Gujarat’s share in export of cotton is 16 per cent,” M Thennarasan, VC and MD of GIDC said.

The seminar will provide a platform for textile manufacturers, suppliers and innovators to exchange ideas and identify global best practices, which will help to create better avenues for collaboration, he said.

Ahmedabad Mirror (The news article has not been edited by DFU Publications staff)

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DAILY NEWS:

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

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

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

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

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

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27 December 2021, Mumbai:

The shares of Go Fashion corrected nearly 6 per cent to Rs 1057.05 per share around 12.10 pm on the BSE on Monday, the day anchor investors' deadline to sell shares ended. On the lock-in expiry day of Go Fashion, the shares were trading at Rs 1068.00, down Rs 62.30 or 5.51%, on the BSE.

Traditionally, such stocks on an average have seen prices declining on the anchor opening date and further decline have been witnessed in such shares in the next five trading sessions, as per Edelweiss research report.

As many as 66.1 lakh shares were subscribed at the rate of Rs 690 per share, said Zee Business TV report. On November 16, as much as 12.2% of outstanding shares worth Rs 546 crore were allotted to 33 anchor investors, it said.

Fidelity Fund (combined) held maximum13.16 percent of the total anchor book, followed by the Government of Singapore (12.90%), Nomura India Fund (7.67%), Abu Dhabi Investment Authority (6.58%) and Monetary Authority of Singapore (2.45%)

The shares of Go Fashion were listed at Rs 1310 per share on the NSE on November 30, 2021. At current share price of Rs 1057, shares have corrected nearly 19 per cent from the listing price on the NSE. Go Fashion shares were listed at around 90 per cent higher premium to Rs 1316 per share on the BSE.

With this, anchor investors' lock-in expiry in 10 stocks concluded this month. FSN Ecommerce Ventures, FINO Payments Bank, SJS Enterprises, PB Fintech, Sigachi Industries, One 97 Communications (Paytm), Sapphire Foods, Latent View Analytics and Tarsons Products were the stocks which witnessed anchor investors' share sale deadline ending earlier this month. Go Fashion was the last scrip to see the anchor investors' deadline lifting.

There are two more stocks that will see anchor investors' deadline to sell shares lifting this month.

Incorporated in 2010, Go Fashion (India) Limited is one of the largest women's bottom-wear brands in India. The company is engaged in the development, design, sourcing, marketing, and retailing of a range of women's bottom-wear products under the brand, 'Go Colors'.

ZEE BUSINESS (The news article has not been edited by DFU Publications staff)

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DAILY NEWS:

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

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

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

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

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

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