28 August 2023, Mumbai

TT Limited has entered into a Memorandum of Understanding (MOU) with the Government of Uttar Pradesh to establish a Textile Vertical unit within the PM Mitra Park initiative in Lucknow, Uttar Pradesh.

Land Allocation: The company has submitted a request for a 15-acre land allocation within the primary urban center of Uttar Pradesh. This location boasts seamless connectivity throughout the state via an expressway.

MOU Signatory: The MOU was signed by Mr. Sunil Mahnot, the Director of Finance, on August 23, 2023.

Future Plans: The company plans to construct an expansive textile vertical unit, covering the entire process from Fiber to Fashion. This endeavor will take shape within the precincts of PM Mitra Park in Lucknow, Uttar Pradesh.

Concurrent Projects: TT Limited is also in the midst of constructing a factory at Hosiery Park, Kolkata, West Bengal, with completion anticipated within a year's time. Additionally, the company is preparing to establish a unit in Surat for fabric production under the upcoming Textile Ministry PLI-2 scheme.

A new Garment factory is also in the planning stages for Tamil Nadu.

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23 August 2023, Mumbai

The FitSmart Technology

The brand's primary focus was on crafting the right technology to facilitate online customization of shirts in preferred sizes and styles.

Their inventive FitSmart sizing model allowed customers to personalize their attire by answering just five questions. Remarkably, 94% of customers found their fits accurate from the outset. Those needing adjustments could benefit from the brand's doorstep pickup and delivery alteration service.

The Stores

In 2014, Bombay Shirt Company opened its first store in Mumbai's Kala Ghoda. Here, customers could engage with in-store stylists to curate fabrics and customizations. The brand has since expanded to 16 outlets across India, reaching cities such as Mumbai, Delhi NCR, Bangalore, Hyderabad, Chennai, Pune, and Ahmedabad.

The Customizations

The brand offers a wide variety of customization options, including collars, cuffs, buttons, plackets, pockets, sleeve lengths, fabric accents, contrasts, and monogrammed initials on cuffs. This allows customers to create a truly personalized shirt that reflects their unique style.

The Expansion

In response to customer requests, Bombay Shirt Company has expanded its repertoire beyond shirts. They now offer jeans, chinos, dress pants, stretch pants, and t-shirts.

The brand is constantly innovating and looking for new ways to meet the needs of its customers.

The Customer Experience

Customer feedback is essential to Bombay Shirt Company. A dedicated customer experience team is available to answer questions and address concerns promptly. This commitment to customer satisfaction is one of the things that sets the brand apart.

The Made-to-Order Approach

Bombay Shirt Company is committed to environmental responsibility. They adopt a made-to-order approach, which means that each piece is manufactured upon purchase. This helps to reduce excess inventory and waste.

The Philosophy

The Bombay Shirt Company's philosophy is simple: create attire that conforms to the wearer, not the other way around. This reflects a shift from the conventional paradigm, where clothing is often mass-produced and standardized.

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26 August 2023, Mumbai

Value retail chain reports double-digit sales growth from 93 stores across 7 states.

Citykart, a chain of value retail stores, announced robust growth in its Q1 sales for the current fiscal period. The company operates 93 stores across 7 states, including Uttar Pradesh, Bihar, Assam, Odisha, Tripura, Madhya Pradesh, and Chattisgarh.

The strategic inclusion of product categories beyond clothing, such as footwear, luggage, cosmetics, and household items, has been instrumental in driving consistent sales growth and attracting a steady influx of new customers on a monthly basis.

Demonstrability

This emphasizes the company's commitment to a customer-centric approach and highlighted the dual focus on delivering value and fashion exclusivity. This approach, he noted, has granted them a competitive edge within the market.

The company plans to expand to 300 stores by 2026 and raise additional funds.

Moving ahead, the company intends to uphold the momentum we've garnered by catering attentively to the evolving preferences and requisites of our valued customers."

In line with its ambitious growth aspirations, Citykart envisions a network of 300 stores throughout India by 2026. The company, characterized by its commitment to value, is actively exploring avenues for expansion, including potential acquisitions.

As part of its growth strategy, Citykart aims to secure additional funds, either through debt or equity, in the latter half of the current fiscal year.

These funds are earmarked to provide further impetus to the company's expansion endeavors, supporting its pursuit of growth and success.

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22 August 2023, Mumbai

Absence of Buyers: The hosiery and garment industry in Ludhiana is facing a significant downturn due to the absence of buyers. Wholesale purchasers from Jammu & Kashmir and the Tibetan markets are still undecided about procuring goods from Ludhiana this year.

Backlog of Unsold Inventory: The situation is further compounded by a backlog of unsold inventory and delayed payments. Buyers are showing limited interest in acquiring new stock, as they still possess remnants from the previous year.

Delayed Payments: 

These buyers have yet to settle outstanding payments and have communicated that payment will be made after clearing the existing stock.

Buyers are not particularly inclined to acquire new stock since they still possess remnants from last year. The uncertain status of these payments has put us in a holding pattern."

Dynamics

Moderate orders were dispatched to Jammu and Kashmir due to unresolved payments from the previous season. Manufacturers are awaiting substantial payments from J&K buyers, totalling several lakh rupees."

The scarcity of buyers has led to severe setbacks in production and sales across the hosiery sector. We are banking on a prosperous winter season to facilitate our financial recovery.

The industry is hopeful that a good winter season will help to revive business and improve payments.

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23 August 2023, Mumbai

It’s a ‘Thank God It’s Friday’ dressing every day after the two Covid years with the return of semi-casual apparel taking precedence in corporate dress codes over all other categories for both men and women.

As the meeting point between athleisure clothing of lockdown years and formal wear as people returned to the office, the semi-casual wear segment is now extremely popular with customers preferring to buy clothes with the versatility of being worn to the office and outside.

Sales figures show the change

Most brands are seeing sales of their denim, chinos, polos, and casual shirts portfolios growing at a faster rate than formal shirts for men, while sneakers are growing much faster than formal leather shoes in basic colors.

The semi-casual and smart casual garment range and accessories such as sneakers and no-see socks are growing rapidly at a high double-digit pace, compared to overall apparel or footwear segment growth figures which are far slower, due to inflationary pressures.

Array

For women, mid-length skirts and dresses, khaki pants or slacks combined with a polo shirt, sweater, or blouse along with fusion ethnic wear like kurtas and kurtis with different kinds of bottom wear and sarees with modern blouses, casually accessorized, is the order of the day.

In many corporate offices like the financial and IT sectors and start-ups, formal wear doesn’t exist unless there is an office function or a business meeting.

Brands focus on semi-formals

Many mid-segment and premium brands are now cashing in on this lucrative segment with their own portfolio. Lacoste India is innovating in solid plain polos with newer colors, plain denim, and sneakers that can be even worn with a suit, as their primary growth drivers.

Leading departmental store chain Shoppers Stop has shown an overall sales growth of 4 percent only, while its smart casual private label Fratini grew 39 percent in the April-June quarter of 2023.

The company plans to bring out a new range of ‘around modern workwear’ apparel just ahead of the upcoming festive season where general demand will make a sharp comeback.

Nuances

Leading French menswear brand Celio has completely stayed away from corporate power dressing this season while working on fabrics and styling in knit and Tencel shirts combined with cotton which is comfortable and durable in the semi-formal segment.

New fits are helping it change the wardrobe from skinny to more relaxed fits and Celio’s pure linen tees made from the most natural and sustainable fabric and smart 24-hour pants are helping rev up demand.

Peter England and other formal wear brands of the Aditya Birla Fashion and Retail group are also adjusting their men’s and women’s portfolios with a contemporary take on formals that are more appealing to the younger and modern consumer.

Smart-casual suits with a modern twist are trending

Premium global brands such as Marks & Spencer are now showcasing smart-casual suits which combine soft shoulders on a blazer and trousers that are closer to sweatpants. Others like Hugo Boss, have collaborated with the Russell Athletic brand to produce suits in jersey fabric, some of which even had long shorts in place of trousers.

Tailwinds

The pandemic was a catalyst in menswear that was already moving to casual wear and a flexible dress code in corporate wear for both men and women. Sales of suits globally were down 7 percent year-on-year and even the banking sector was loosening up and the two lockdown years only increased the pace.

Traditionally, most men had an office wardrobe of suits and smart shirts and black and brown formal shoes but now these are all formal occasion wear.

People are now keen to socialize and connect after work and do not want to spend separately on formal wear but rather on a more casual, semi-casual, and semi-formal apparel category, and this versatility will keep this segment up and running.

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21 August 2023, Mumbai

With a concept of a fit and healthy body being the best fashion statement for everybody, the sportswear apparel segment that combines athletic wear with contemporary fashion trends has come into its own.

Even before the pandemic, the sports fashion segment in India was already on a growth trajectory being driven forward with the rise of fitness awareness through gyms and online platforms, increased sports participation across age groups along with major sporting events like the FIFA, Pro Kabaddi Indian Premier League (IPL) Pro Kabaddi and international sports tournaments being advertised like never before.

Sports apparel market to grow at 16.2% from 2022-29

As per Maximize Market Research (MMR), -a Pune-based syndicate and custom-made business and market research company- India’s sports apparel market is valued at $579.47 million in 2021projected to reach $2238.13 million by 2029, growing at a CAGR of 16.2 percent during the forecast period from 2022 to 2029.

Unlike other apparel segments, both 2021 and 2022 saw overall strong growth that has equaled pre-pandemic levels, as the Covid period has brought extreme focus on health and wellness.

DTCBoth global and homegrown brands are now offering a different choice of athletic apparel and high-tech design clothing.

Wearable

Sports apparel now has wearable technology advances such as temperature-regulating textiles and clothing, fitness tracking sensors, and interactive apparel innovations that boost athletes' performance and give a more tailored fitting.

The demand for eco-friendly and sustainable sports gear is rising and some brands have created a fusion of the Indian USP of traditional patterns, prints, and cultural elements into modern designs, which is a current rage.

Study

A recent ‘The India Sports Apparel Market Report’ which offers an in-depth examination of the current and future landscape of the market has pointed out that the growing preference for online shopping and convenience is fuelling demand along with a strong influence of social media and digital ecosystem.

Changing fitness consciousness, especially with the emergence of domestic brands offering to change market preferences and competitive pricing has given a boost to the market.

Men’s sportswear holds the largest share, closely followed by the market for women, and the children's sector accounts for a little fraction. Increased women's participation in sports such as marathons, badminton, cricket, and other fitness activities has made this segment the fastest-growing segment.

Brands focus on upcoming festive sales

Premium brands such as Puma are now focusing on festive season sales, as in India consumers spend a lot of money during this time, regardless of apparel segmentation. Puma made over Rs 2,000 crore in revenue in 2021, and thus unprecedented demand in the sports category and the brand is expected to continue.

“The buoyancy is very high for offline and retailers are back. Brands like ours are expanding and opening more stores. Online sales have still grown. Certain platforms are growing more than 50 percent versus last year in our category.

You have a lot of data to work on online and brands that work very closely with these platforms can build a lot of efficiencies in terms of assortments or pricing which gets organic growth. We have built our shopping app in India,” points out Abhishek Ganguly, Managing Director, Puma India and Southeast Asia.

DTC

The role of technology and D2C models are now being used by brands to improve consumer relationships, acquire insightful data and give more affordable pricing.

Online brands need to focus more virtual trail of apparel by customers of sports gear and accessories using Augmented Reality (AR) and Virtual Reality to make it a more interactive experience along with all social media platforms continuing to play a crucial role in sports fashion retail.  

Physical stores will need to do more special events, workshops, and interactive experiences to boost brand loyalty and an enhanced shopping experience. The sportswear apparel segment is up and running and if handled right by the leading brands, everyone will be a winner on the stands in the near future.

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It’s a ‘Thank God It’s Friday’ dressing every day after the two Covid years with the return of semi-casual apparels taking precedence in corporate dress codes over all other categories for both men and women. As the meeting point between athleisure clothing of lockdown years and formal wear as people returned to office, the semi-casual wear segment is now extremely popular with customers preferring to buy clothes with the versatility of being worn to office and outside.

Sales figures show the change

Most brands are seeing sales of their denim, chinos, polos, and casual shirts portfolios growing at a faster rate than formal shirts for men, while sneakers are growing much faster than formal leather shoes in basic colors. The semi-casual and smart casual garment range and accessories such as sneakers and no-see socks are growing rapidly at a high double-digit pace, compared to overall apparel or footwear segment growth figures which are far slower, due to inflationary pressures. For women, mid-length skirts and dresses, khaki pants or slacks combined with a polo shirt, sweater, or blouse along with fusion ethnic wear like kurtas and kurtis with different kinds of bottom wear and sarees with modern blouses, casually accessorized, is the order of the day. In many corporate offices like the financial and IT sectors and start-ups, formal wear doesn’t exist unless there is an office function or a business meeting.

Brands focus on semi-formals

Many mid-segment and premium brands are now cashing in on this lucrative segment with their own portfolio. Lacoste India is innovating in solid plain polos with newer colors, plain denim, and sneakers that can be even worn with a suit, as their primary growth drivers. Leading departmental store chain Shoppers Stop has shown an overall sales growth of 4 per cent only, while its smart casual private label Fratini grew 39 per cent in the April-June quarter of 2023. The company plans to bring out a new range of ‘around modern workwear’ apparels just ahead of the upcoming festive season where general demand will make a sharp comeback.

Leading French menswear brand Celio, has completely stayed away from corporate power dressing this season while working on fabrics and styling in knit and Tencel shirts combined with cotton which is comfortable and durable in the semi-formal segment. New fits are helping it change the wardrobe from skinny to more relaxed fits and Celio’s pure linen tees made from the most natural and sustainable fabric and smart 24-hour pants are helping rev up demand. Peter England and other formal wear brands of the Aditya Birla Fashion and Retail group are also adjusting their men’s and women’s portfolio with a contemporary take on formals that are more appealing to the younger and modern consumer.

Smart-casual suits with a modern twist are trending

Premium global brands such as Marks & Spencer are now showcasing smart-casual suits which combine soft shoulders on a blazer and trousers that are closer to sweatpants. Others like Hugo Boss, have collaborated with the Russell Athletic brand to produce suits in jersey fabric, some of which even had long shorts in place of trousers.

The pandemic was a catalyst in menswear that was already moving to casual wear and a flexible dress code in corporate wear for both men and women. Sales of suits globally were down 7 per cent year-on-year and even the banking sector was loosening up and the two lockdown years only increased the pace. Traditionally, most men had an office wardrobe of suits and smart shirts and black and brown formal shoes but now these are all formal occasion wear. People are now keen to socialize and connect after work and do not want to spend separately on formal wear rather on a more casual, semi-casual, and semi-formal apparel category, and this versatility will keep this segment up and running.

19 August 2023, Mumbai

The Indian Garage Co., a leading Indian D2C fast-fashion brand, has launched FreeHand, an exclusive women's fast fashion brand.

Outreach

FreeHand aims to provide affordable and chic clothing choices to women across India, with a particular focus on tier 2 and 3 cities.

The FreeHand collection encompasses various fast-fashion casual wear, including dresses, tops, skirts, trousers, and accessories. It aims to strike a harmonious equilibrium between quality, affordability, accessibility, and style.

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