V2 Retail has improved its net sales by 46.6 per cent to Rs 189.32 crore in Q4 FY22 from Rs 129.16 crore in Q4 FY20. The company reduced its net loss during the quarter to Rs 10.27 crore from Rs 12.08 crore in Q4 FY20. Pre-tax loss declined to Rs 12.76 crore against a pre-tax loss of Rs 16.08 crore in Q4 FY20.

During Q4 FY21, V2 Retail opened eight new stores and closed one non-profitable store. As on March 31, 2021, the store count was 95 across 16 states and 83 cities with a total retail area of 10.0 lakh sq. ft. Same store sales growth (SSSG) for Q4 FY21 was 25 per cent. The company witnessed continuous improvement in demand till the lockdown was announced due to second wave by end March and beginning of April. Lockdown and related restrictions impacted operations at majority of stores during Q1 FY22. They also delayed the company’s targeted store additions for Q1 FY22.

V2 Retail offers a portfolio of products, including apparel and life style products. The company has a strong presence in Northern & Eastern India. It caters to the neo middle class group of population living in Tier II and Tier III cities.

The Confederation for All India Traders (CAIT) has supported the Indian government in its recently proposed e-commerce amendments.

The government has proposed to make certain amendments to its Consumer Protection (E-Commerce) Rules 2020 including banning flash sales, necessitating more thorough item descriptions, and limiting the sale of in-house brands, CAIT sees these amendments as a way to prevent foreign-owned e-commerce businesses from dominating the market but other groups have received the proposed amendments poorly.

The proposed amendments also include instructing retailers to always recommend a ‘Made in India’ alternative to any foreign-made product to promote domestic production. There have been criticisms that this harms the concept of free consumer choice.

However, CAIT has praised the proposal. The organization has run campaigns to encourage its member traders to go online but has argued that foreign-owned e-commerce platforms are harming Indian businesses’ ability to do business online which is in-turn harming Indian traders.

As a part of its #OriginalsKeepMoving campaign, lifestyle and performance footwear brand Skechers has launched a new collection titled Energy Racer in India besides expanding popular Skechers D'Lites range for women as well as men. The Skechers D'Lites range reflects the optimistic style sentiments evoked by the spring and summer seasons while Energy Racer range gives a trendy style boost to every wardrobe. The collections are a part of the #OriginalsKeepMoving campaign - a fashion movement that launched in Autumn/Winter 2020 with Ananya Panday. The collections will be available at Skechers retail outlets nationwide and online at Skechers.in.

Since its launch in 2012, Skechers India has offered a wide range of its 3,000 footwear styles to men, women, and children across the country, besides apparel and accessories in nearly every category. The brand offers two specific categories of footwear – lifestyle and performance. Skechers lifestyle shoes are equipped with air-cooled memory foam. This feature perfectly contours to the foot while providing enhanced breathability, perfect balance and support when on the move. The brand’s performance shoes are incorporated with the GOrun technology that enables midfoot strike, cushioning and impact protection. GOwalk offers high-rebound cushioning and is ideal for athletic walking.

Fashion Design Council of India (FDCI) will host the second digital edition of the India Couture Week 2021 from August 25 to 29. The event will be hosted in association with Hindustan Times with Archana Aggarwal as the jewelry partner for the event. The 14th edition will be attended India’s leading designers with all shows streamed on all the FDCI's digital platforms – Instagram, , Facebook, Twitter, YouTube, and the FDCI website.

The FDCI had successfully hosted its first-ever digital edition of the India Couture Week (ICW) in September 2020 which saw participation by designers like Amit Aggarwal, Anju Modi, Dolly J, Falguni Shane Peacock, JJ Valaya, Kunal Rawal, Manish Malhotra, Rahul Mishra, Reynu Taandon, Shantanu & Nikhil, and Suneet Verma.

Footfalls at Delhi-based mall Select Citywalk have been increasing month-on-month compared to last years. As per Fashion Network, the shopping mall opened with strict health and safety measures in place including social distancing markings and queue managers as well as sanitization measures for the space and products. As per Yogeshwar Sharma, Executive Director and CEO, vaccination has been an important factor in boosting customers’ confidence and encouraging them to visit the shopping complex

There is an increased demand for athleisure, fast fashion, beauty, and consumer durable goods, adds Sharma. Demand for work-from-home wear and lounge wear is also increasing as most events are still on hold and people are staying at homes. Select Citywalk is a 1.3 million sq ft, air-conditioned, vibrant, and upscale destination shopping centre.

A group of top 100 Indian retailers including Puma, Levi’s, Arvind, Biba, Lacoste and Global Desi plan to shut their stores in Delhi-NCR on Thursday and Friday to protest against delays in rental reliefs from the shopping centres.These retailers have been urging malls to adopt a pure revenue-share model with no minimum guarantee on rent for a year.

Nikhil Mohan, Founder, Blackberrys said, retailers are demanding complete revenue-sharing with sales pegged to 2019 sales. They believe, they are staring at an unsure future with the third wave predicted to hit India in September or October, just before the festive season when retailers rake in virtually 40 per cent of their annual enterprise. Retailers had raised the rents issue earlier also as they sought a performance-linked rental system but were opposed by mall-owners.

Sumit Dhingra, Vice President & General Manager-India & South East Asia, Crocs says, new collaborations and a digital-first marketing strategy will help Crocs strengthen its connection with Gen Z and millennials in India. Having successfully navigated the COVID-19 crisis, Crocs now aims to expand its retail footprints by negotiating better commercials at prime locations.

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As per Freepress Journal, the brand plans to launch global concept stores to offer more classic and personalized products to consumers. It also plans to expand its sandals and clogs range in India besides extending its Jibbitz shoe range. Globally, Crocs plans to launch its Balenciaga Crocs 2.0 as a part of its Spring/Summer collection.

Crocs Inc is a world leader in innovative casual footwear for men, women and children with more than $1 billion in annual revenue. The company offers several distinct shoe collections with more than 300 four-season footwear styles. All Crocs™ shoes feature Croslite™ material, a proprietary, revolutionary technology that gives each pair of shoes the soft, comfortable, lightweight, non-marking and odor-resistant qualities. The brand was incepted in 2002 and has sold more than 200 million pairs of shoes in more than 90 countries around the world.

India Couture Week 2021 (Digital) from August 25 to 29.

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Orders volumes in the online apparel sector in June increased 14 per cent from the last month, as per e-commerce solutions provider Unicommerce. Easing of state-wide lockdowns has further helped e-tailers overcome logistical hurdles and increase sales by around 33 per cent. Omni-channel eyewear retailer Lenskart recorded 70 per cent increase in sales and expects sales to recover to pre-second COVID wave levels by next month. Kapil Makhija, CEO, Unicommerce attributes this to embracing for e-commerce by consumers in Tier II and Tier III. He expects the growth momentum to continue and his company to see consistent growth.

Ecommerce has become an integral part of the growth of retail brands, which are using online commerce as part of their omnichannel strategy to reach new consumers, Makhija adds. Ecommerce companies are expecting month-on-month growth to continue even as they hope the proposed changes will not be applicable anytime soon as that could disrupt the growing momentum in consumer spending.

The government’s proposal of a blanket ban on flash sales has triggered strong reactions. Depending on the categories, some online merchants have seen a stronger rate recovery than the whole market and are hoping the trend would stay.

The proposed changes to consumer rules for the e-commerce sector are likely to complicate operating environments for Amazon and Flipkart who are currently fight antitrust allegations in courts. The rules to ensure parties related to the e-commerce companies or their associated enterprises are not listed as sellers on their websites, could affect Amazon’s business structure as the company holds indirect stakes in two of the top sellers on its website.

The rule to ban associated brands from promoting or selling on the platform could hurt private labels, owned or licensed by companies like Amazon to certain sellers, that then market them on their online platforms. The new rules prohibit e-commerce entities from displaying or promoting misleading advertisements on its platform. These company must also, within 72 hours of receiving an order, assist government agencies for investigative or cyber security-related activities.

The new rules also propose to increase liability of e-commerce firms, which could be held liable if a consumer suffers due to a seller's negligent conduct or failure to deliver goods. They also direct e-commerce companies to set up a grievance redressal mechanism, including appointing a chief compliance officer.

The Indian online fashion industry grew by 51 per cent overall in FY21 and 66 per cent on various brand websites, as per a new report by Unicommerce.

Tier III and smaller cities reported the highest order volume growth of 192 per cent, while kids’ wear grew by over 200 per cent in online order volume. The rising adoption of D2C (direct-to-consumer) among fashion brands helped them build a strong connection with consumers.

Brand websites reported 66 per cent order volume growth and 77 per cent GMV growth in FY-2021 as compared to the previous financial year, the report said. The strong order volume growth supported with higher GMV growth led to a 6 per cent increase in average order value.

As compared to websites, marketplaces reported 45 per cent order volume growth and 33 per cent GMV growth, with an 8 per cent decline in the average order value for FY-2021.

The proposed new e-commerce rules have upset e-commerce players operating in India. Companies including Amazon and Flipkart are protesting against the new rules proposed by the Consumer Affairs Ministry. The government has received numerous complaints from e-commerce companies who believe the new rules impact India’s e-retail market, expected to be worth $200 billion by 2026.

Vague classification of ‘conventional flash sales’

One of the biggest contentions of e-commerce companies is the ban on flash sales on their platforms. The government has clarified the new rules do not ban ‘conventional’ flash sales only specific flash sales or back-to-back sales which limit customer choice, increase prices and prevent a level playing field are not allowed. However, e-commerce companies say the government has not clarified the classification of ‘conventional flash sales’.

Secondly, e-commerce companies argue the decision to allow e-commerce companies to keep flash sales data a secret is vague. They are not sure about the government’s decision to permit e-commerce companies to announce discounts on their platforms. The government has said, this decision will be taken on the basis of consumers’ response. This leaves a lot of scope for government intervention on the matter, say e-commerce companies.

Ban on associated parties to disrupt e-commerce operators

The draft rules also ban parties related to the e-commerce companies and their associated enterprises from being listed as sellers on marketplaces. Earlier, the government had directed e-commerce companies including Amazon to reduce their stake in preferred sellers to 24 per cent. However, the new rules completely ban e-commerce companies from holding any stake in their sellers. This is likely to disrupt e-commerce companies and compel them to restructure operations. The rule holding e-commerce marketplaces responsible for sellers’ activities has also a bug bear as they argue being marketplace they are only responsible for hosting sellers, and should not be held accountable for sellers’ actions

Wrongful petition by offline retailers

E-commerce companies allege the new rules are a result of strong lobbying by brick and mortar sellers, who have been complaining e-commerce has taken away their business via ‘unfair’ means. However, e-commerce companies argue their share in overall Indian retail market is minimal. Citing figures from a recent report by Statista, companies reveal, pre-pandemic, e-commerce’s share in retail was 3.6 per cent which rose to 10 per cent during the pandemic. It has now stabilized at 5 per cent. In comparison, e-commerce penetration in US’ retail market pre-pandemic was 11 per cent. It rose to 22 per cent during the pandemic and has now stabilized at 17 per cent.

E-commerce companies are also protesting against the antitrust investigations launched by the Competition Commission of India into the business practices of Amazon and Flipkart and have initiated legal action against this rule.

The net profit of apparel major TCNS Clothing Co grew to Rs 4 crore ($537,923) in the fourth quarter ended March 2021, as against net loss of Rs 24 crore it reported in the year-ago period.

As per Fashion Network, the company’s sales for the quarter rose by 1 percent to Rs 221 crore, as against Rs 219 crore it reported in the corresponding period last year.

For the full year 2020-21, TCNS reported a net loss of Rs 56 crore as against net profit of Rs 69 crore during the previous year ended March 2020, while its revenue declined 45 percent to Rs 636 crore as against Rs 1149 crore during the previous year ended March 2020.

The company's operations and financial results for the quarter and financial year ended March 31, 2021 have been adversely impacted by the outbreak of COVID-19 pandemic and the consequent lockdown announced by the Government authorities due to which the operations were suspended for substantial part of the first half of the year.

TCNS Clothing currently has over 400 exclusive brand outlets across India for its various brands as well as over 1,300 large format store outlets, and 1,400 multi-brand outlets.