22 August 2024, Mumbai

Amid positive indicators for the economy such as slowing inflation and progress of the southwest monsoon, inner wear sales are also expected to revive, affirm leading companies such as Page Industries, Aditya Birla Fashion and Retail (ABFRL) , Arvind Fashions and Rupa & Co.

Consumption of inner wear, including men's underwear has been on a revival since June 2024.The sales of Page industries rebound as demand revived and the company recorded an improved inventory health at its distribution hubs. Ganesh VS, Managing Directorsays, the rise in ecommerce operations and digital platforms have expanded the company’s market reach, enabling it to connect with the consumers more effectively.

Inner wear sales have remained stagnant for over six quarters now, along with a slowdown in overall apparel demand. However,, the inner wear category at Arvind Fashion is growing at double digits, faster than overall sales at the company. The revenues of Rupa& CO also grew by 8 per cent in the April-June period while its sales volume rose by 9 per cent.

The innerwear business of ABFRL grew at robust rate last quarter while the company’s athleisure segment continued to shrink due to the high base of the COVID period when multiple new brands had entered the segment due to a sudden surge in demand.

Apart from the men's underwear index, other macro indicators also point toward a recovery. Inflation based on the Consumer Price Index (CPI) reached its lowest in five years to 3.54 per cent though this was partly due to the base effect. As per the Reserve Bank of India (RBI), India’s economy is projected to grow by 7.2 per cent in FY25.

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21 August 2024, Mumbai

Founded in 1925, Raymond, is name synonymous with quality and style in India. It is not merely a brand, but a testament to resilience, innovation, and strategic vision. With a rich legacy spanning nearly a century, Raymond has consistently adapted to changing times, establishing a formidable presence not only in India but also on the global stage. From its humble beginnings as a textile manufacturer to its evolution into a diversified conglomerate encompassing lifestyle, engineering, and real estate, Raymond's journey is a saga of transformation and growth.

A seven-year turnaround plan

The COVID-19 pandemic posed significant challenges for Raymond, as it did for businesses across the globe. Store closures and economic uncertainty led to a decline in sales and a rise in debt. However, Gautam Singhania and his team responded with a clear and decisive strategy: a seven-year turnaround plan focused on debt reduction, business optimization, and strategic growth.

The plan involved divesting non-core businesses, such as the FMCG division, and using the proceeds to reduce debt. Raymond also acquired Maini Precision Products (MPPL) to expand its engineering capabilities and launched multiple real estate projects. These efforts have paid off. The company's stock price has surged, and its balance sheet is now healthier than ever. Raymond is now poised to enter the next phase of its growth journey, with a renewed focus on expansion and innovation.

Expansion in lifestyle

Raymond's lifestyle business, which will soon be listed as a separate company, Raymond Lifestyle, is a key growth driver. The company sees great potential in manufacturing garments for the Western market and is in the middle of an expansion that will increase its annual manufacturing capacity from just under 8 million to 11 million garments.

Raymond is also focusing on expanding its store footprint, adding new categories like men's innerwear and sleepwear, and relying on its core suiting fabrics business. The company plans to open 500 stores in the next three years, including multi-brand retail outlets.

Brand Ethnix rdefining ethnic menswear

One of big initiatives in Raymond's lifestyle portfolio is Ethnix by Raymond, an occasion/ceremonial menswear brand. Launched in 2017, Ethnix has quickly become a success, driven by the growing trend of wearing Indian ethnic wear on special occasions. The brand offers a wide range of ethnic wear for men, including kurtas, sherwanis, and suits. It has also expanded into casual ethnic wear with its 'Smart Ethnix' range, which features short kurtas, linen trousers, and parallel trousers.

Ethnix is planning an aggressive expansion in the coming years, with plans to open 300+ stores in the next two years. The brand is also working on building a robust omnichannel strategy to increase the contribution of revenue from online channels. As per Bidyut Bhanjdeo, Chief Business Officer of Ethnix the key trends driving the growth of the ethnic menswear market are:

• Increasing popularity of Indian ethnic wear for occasions and celebrations.

• The shift from unorganized to organized players in the market.

• The expansion of branded stores in Tier II, III cities.

Meanwhile, the engineering business has been revitalized with the acquisition of Maini Precision Products. The company's product range has doubled with the addition of new categories and Raymond is looking to scale the aerospace and defense businesses, which have been placed under a separate company within the engineering business. Real estate business is also poised for growth. Raymond will amortize its 100-acre Thane land parcel by 2032-33. The remaining 60 acres should be sufficient to build about 7 million sq. ft. of saleable real estate, resulting in revenue of Rs 16,000-18,000 crore over the next 7-8 years. Raymond has also entered into joint development agreements in Mumbai to diversify its real estate business beyond its captive land parcel. The company is exploring expansion into Pune under the same model.

Raymond's future goals are clear: to create shareholder value, grow its businesses, and focus on innovation. The plans include expanding its manufacturing capacity, store footprint, and product categories in the lifestyle segment. The company will also focus on building its omnichannel capabilities. Scaling its engineering business. Growing its real estate business and focusing on innovation with new product offerings, designs, and silhouettes. The company will also focus on incorporating sustainable fabrics into its products.

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21 August 2024, Mumbai

German sportswear giant Puma is refocusing its India strategy to emphasise on the sports and performance industry, rather than just lifestyle and athleisure. Currently, about a quarter of Puma's sales in the country come from sports performance products, a figure that the brand expects could increase to a third in the near future.

In line with its performance-first strategy, Puma has partnered with the Athletics Federation of India as their official kit supplier to provide over 400 athletes with footwear, apparel, and accessories. The brand has also teamed up with the Indian Olympic Association as its official footwear partner, supplying podium and travel footwear, along with accessories for the Olympics.

Maintaining its position as India's leading sports and apparel brand, Puma recorded a 10 per cent sales increase last year despite challenges such as top management turnover and declining demand for discretionary products. For the fiscal year ending in December, Puma's revenue reached Rs3,274 crore, significantly surpassing competitors like Adidas, Nike, Reebok, Skechers, as well as fast fashion brands Zara and H&M.

Last year, Puma's former Managing Director AbhishekGanguly, along with sales and operations head Atul Bajaj and CFO AmitPrabhu, left to start their own sports firm. KarthikBalagopalan took over as the new managing director during a period when growth in the lifestyle and apparel segments was slowing after three years of post-pandemic ‘revenge shopping.’

Acknowledging the slowdown in demand, Balagopalan says, however, the overall growth rate of the category remains in the high single digits as consumers continue to invest in health and fitness. Sales are anticipated to recover by the upcoming festive season, he adds.

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22 August 2024, Mumbai

Vedant Fashions has unveiled a new joint store for two of its ethnicwear brands, Manyavar and Mohey in Pune. Launched to coincide with the upcoming wedding season, the store situated in Nexus Malls’ shopping center, The Pavillion, offers a wide range of ethnic and occasion wear for both men and women.

The addition of this joint store boosts the wedding and occasion wear offerings available at the Pavillion. By expanding its selection of wedding attire ahead of the marriage season, The Pavillion aims to attract more visitors and boost sales during this peak period for retailers.

Actively expanding their joint store presence, Manyavar and Mohey also opened a large outlet in Bengaluru in July. Additionally, the brands recently launched their seventh joint store in the US, in Fremont, California.

The parent company of these two ethnic wear brands-Vedant Fashions operates a portfolio of ethnic wear brands, including Mebav, Twamev, and Manthan. The company is present in over 600 brick and mortar stores across India and internationally, including in the US, Canada, UK, and UAE.

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21 August 2024, Mumbai

One of India's oldest and most prestigious textile retail chains with a 110-year legacy, Seematti has introduced the country’s first Artificial Intelligence (AI)-based fashion brand ambassador.

Named Isha Ravi, the AI fashion model now represents Seematti in the Indian fashion industry. Portrayed as a young woman with a passion for colors and travel, Ravi embodies independence and a keen sense of fashion.

Marking a unique convergence of technology and fashion, Seematti’s initiative showcases the potential of AI in enhancing the shopping experience. The company plans to keep customers informed about new AI-driven features that will further elevate their shopping experience.

Particularly renowned for its bridal collections, Seematti offers an extensive range of traditional and contemporary sareescatering to the diverse preferences of Indian women. Under the visionary leadership of BeenaKannan, the granddaughter of Seematti's founder, the brand offers the BeenaKannan Couture featuring a luxurious collection of wedding couture designed for the modern bride. Another brand under the Seematti umbrella, Seematti Young offers trendy youthwear that perfectly combines style and comfort.

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21 August 2024, Mumbai

The men’s occasion wear brand by TarunTahiliani and Aditya Birla Fashion & Retail, ‘Tasva,’ has launched an exclusive brand outlet in Pune. Located in ‘The Pavillion,’ one of the city's premier shopping centers, the new store showcases Tasva’s curated selection of wedding and festive wear.

A part of the Nexus Malls portfolio, The Pavillionis situated on SenapatiBapat Road in Pune and hosts over 200 Indian and international fashion and lifestyle brands, including Zara, Hidesign, Sunglass Hut, House of Cavalli, Forever 21, Parcos, Nike, Skechers, Puma, and Asics.

Launched in 2021, Tasvais a men’s clothing brand under Indivinity Clothing, a joint venture between renowned fashion designer TarunTahiliani and the Aditya Birla Group. The brand focuses on offering classic traditional and occasion wear tailored for the modern Indian man.

Tasva operates a mix of company-owned and franchise outlets, with its first brick-and-mortar store opening in Bengaluru. The brand also sells online through its direct-to-consumer e-commerce platform, following an omni-channel expansion strategy to drive growth.

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22 August 2024, Mumbai

Making its runway debut, designer Shubh Goyal’s apparel brand, Fierce London will launch its new collection, Fierce Ascendancy,’ on Sep 14, 2024 during London Fashion Week.

A fusion of luxury and streetwear, Fierce Ascendancy combines the elements of high fashion with bold, assertive designs. The collection caters to the modern forerunners of luxury who embrace their inner fierceness, break boundaries, and accept themselves fully. It merges cutting-edge craftsmanship with the brand’s core values.

Inspired by the ‘resilience and strength symbolised by leather and the mystique of an all-black palette, the collection reflects the brand's aim to challenge conventional perceptions of streetwear by infusing it with elements of luxury and high fashion.

With its participation in the London Fashion Week, Fierce London aims to not only establish itself within the global fashion community but also connect with industry leaders and influencers while reaching a broader audience. The brand also plans to explore more collaborations with designers and artists in future to expand its product range.

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21 August 2024, Mumbai

Two renowned fashion brands, Ekaya and 431-88 have joined forces to launch a new ready-to-wear collection for the festive season. ReimaginingBanarasi textiles with a contemporary twist, the collection offers stylish garments including pre-draped handloom sarees, vibrant co-ord sets, chic blazers, kurtas, etc.

Both Ekaya and 431-88 are known for their distinct brand identities. Led by ShwetaKapur, 431-88is celebrated for its modern, sensual, and feminine designs tailored for the contemporary woman. On the other hand, Ekaya Banaras, with a rich 120-year legacy spanning four generations, is synonymous with exquisite Banarasi craftsmanship. Merging the best of both the world, this collaboration combines 431-88’s focus on comfort and ease with Ekaya’s mastery of traditional textiles.

Bringing her vision of creating iconic silhouettes to this collection, Palak Shah, Founder, Ekaya Banaras, introduces pre-draped sarees with inspired by natural elements such as flowers, water waves, and earthy textures, striking a balance between delicate and bold aesthetics.

With the collection making these pieces more accessible to the younger generation, the designers hope to inspire a renewed appreciation for cultural heritage and encourage people to reconnect with their roots.

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21 August 2024, Mumbai

Premium menswear brand Blackberrys has teamed up with cricketer Ruturaj Gaikwad to launch their new TechPro Collection. Featuring advanced qualities such as stretchability, wrinkle resistance, and Smart-Dry technology, this innovative collection provides a versatile wardrobe suitable for both personal and professional settings. It includes a range of garments, from T-shirts and khakis to shirts, trousers, blazers, and all-season jackets.

The collection is designed to offer both style and comfort, with precise fits and crisp cuts that make a sophisticated statement, while the flexible fabrics ensure ease of movement. It is imbibed with the Smart-Dry technology that keeps the wearer looking fashionable and fresh in any weather, while the wrinkle-resistant fabric maintains an elegant appearance throughout the day.

Nitin Mohan, Co-Founder & Director, Blackberrys, states, Gaikwad’s dynamic presence and authenticity align perfectly with the brand’s values, making him an ideal partner to introduce the TechPro Collection, The partnership underscores the brand’s commitment to offer Indian men clothing that seamlessly blends style with functionality.

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22 August 2024, Mumbai

In a world rapidly embracing the convenience of online shopping, Minister of Commerce and Industry, Piyush Goyal, has sounded a cautionary note. While acknowledging the undeniable benefits of e-commerce, Goyal has warned of the potential downsides, highlighting a future where India transforms into a nation of "couch potatoes."

Worries around online shopping

Goyal's concerns stem from the observation that the ease of online shopping, coupled with the rise of streaming services and food delivery apps, could lead to a more sedentary lifestyle. He fears that the allure of staying home and ordering everything online might discourage social interactions and physical activities, impacting the overall well-being of individuals, particularly the younger generation.

He also raised concerns about the impact of e-commerce on traditional retail sectors. He stressed the need for a balanced approach to e-commerce growth, ensuring that it doesn't come at the cost of local businesses and the jobs they provide. He highlighted the example of Switzerland, which has been cautious in allowing e-commerce to flourish, prioritizing the protection of its local businesses and economy.

These worries extend beyond the potential impact on lifestyle and local businesses. He also questioned the business practices of major e-commerce players, particularly their use of predatory pricing strategies and potential circumvention of regulations. He urged for a closer examination of these practices and their impact on small retailers and consumers.

The underlying message is a call for a more mindful and inclusive approach to e-commerce growth in India. He advocates for a model that leverages technology for efficiency and innovation while ensuring that the benefits are shared equitably across society.

Potential hurdles to e-commerce progress

While Goyal's concerns are rooted in legitimate observations, they also raise questions about the potential implications for the future of e-commerce in India. Could his vocal stance translate into policy changes or regulatory hurdles that might slow down the growth of the sector? Could his emphasis on protecting traditional retail create a less favorable environment for e-commerce companies to operate in?

It is important to acknowledge that the e-commerce industry has been a significant driver of economic growth and job creation in India. It has provided consumers with greater access to products and services, often at lower prices. It has also empowered small businesses and entrepreneurs to reach a wider audience.

Therefore, any policy decisions or regulatory changes need to strike a balance between addressing the concerns raised by Goyal and ensuring that the e-commerce sector continues to thrive and contribute to India's economic development. It is crucial to foster an environment where both traditional retail and e-commerce can coexist and complement each other, leveraging their respective strengths to serve the diverse needs of Indian consumers.

This narrative highlights the complex challenges associated with e-commerce growth in a developing country like India. It underscores the need for policymakers, businesses, and consumers to work together to create an e-commerce ecosystem that benefits everyone, fostering both economic growth and social well-being. It is a reminder that the convenience of technology should not come at the cost of our health, our communities, and our shared future.

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21 August 2024, Mumbai

Premium Japanese lingerie brand, Wacoal has introduced a new India-exclusive product range called ‘Wacoal Basics,’ that aims to meet the everyday needs of modern women. Specifically designed for the Indian market, the collection blends simplicity, sophistication, and affordability, while maintaining Wacoal’s signature quality and comfort.

Featuring a neutral color palette, the Wacoal Basics collection is crafted with materials that ensure all-day comfort and provide versatile options that easily integrate into any wardrobe.

PoojaMerani, COO, Wacoal India, says, created to offer essential lingerie pieces to women, the collection makes Wacoal’s premium quality and comfort more accessible, without compromising on style or fit, even at a more affordable price point. The collection has been designed to support women in their daily lives.

Founded in 1946 in Japan, Wacoal began expanding into Asian markets in the 1970s, entered the US in 1985, and moved into Europe in 1990. Wacoal opened its first store in India at Grand Galleria, Palladium, Mumbai, in December 2015.

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20 August 2024, Mumbai

A leading name in India's luxury home décor sector, Casa India has opened its third outlet at Kankurgachi in Kolkata.

This expansion follows the successful operation of the company’s other stores at City Centre Mall, Salt Lake, and Nager Bazar, further solidifying the brand's presence in the city's retail landscape.

The new 1,000 sqft store features products from top home furnishing brands like Raymond and Welspun, offering a range of luxury items at prices from Rs 149 to Rs 22,000. Customers seeking personlised home décor solutions can also avail of the customisation options at the store.

Established in 2020 by VikashDokania, Casa India is renowned for its craftsmanship and innovative design in the home décor market. The brand offers a wide range of premium home linen and décor items, including cushion covers, bed and table runners, bed covers, fridge covers, and laundry bags, all reflecting a deep understanding of fabrics, colors, and textures.

The company aims to provide a one-stop solution for home furnishing needs, combining the best designs and quality under one roof. Kolkata lacked a proper home furnishing store catering to the premium segment, and with this third outlet, Casa India bridges this gp.

Casa India’s rapid expansion is a testament to its growing popularity, with a retail presence in over 100 stores across major metro cities in India. The brand aims to double its retail footprint in the coming years, continuing its mission to bring luxury and style into Indian homes.

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