18 July 2024, Mumbai

The just concluded wedding of Anant Ambani, son of India's richest man Mukesh Ambani, was not just about lavish celebrations and global celebrities. It turned out to be a turning point for the Indian fashion scene, putting the spotlight on the country's top designers.

A reliance on couture

The Ambani family has long relied on the expertise of designer duo Abu Jani Sandeep Khosla (AJSK) for their special occasions. For this grand wedding, AJSK outdid themselves. Their decades-long relationship with the Ambanis translated into stunning outfits, described as "reimagined classical couture." Anant's wedding sherwani, for example, was crafted with real silver dipped in gold, while Radhika's bridal lehenga was a masterpiece in ivory, red and gold zardozi, echoing traditional Gujarati bridalwear it embedded with Swarovski crystals. The designers even collaborated with artist Jayasri Burman to create a post-wedding outfit for Radhika, transforming a lehenga into wearable art. AJSK also created breathtaking designs for Nita Ambani and Isha Ambani Piramal, showcasing traditional Indian textiles and craftsmanship.

A star-studded showcase

Manish Malhotra, another big name in Indian fashion, dressed several guests and the Ambani family. Bollywood celebrities like Priyanka Chopra Jonas donned his creations, with Kim Kardashian's off-shoulder lehenga and Khloe Kardashian's bespoke aureate lehenga stealing the show. Malhotra's focus on traditional techniques like Banarasi fabrics kept the essence of Indian weddings alive. Anamika Khanna, known for her chic silhouettes, made a statement with a show-stopping floral stole for the haldi ceremony and a unique Dolce & Gabbana collaboration sari for Radhika. Tarun Tahiliani's known for his fluid drapes, designed Priyanka Chopra's vibrant yellow lehenga and outfits for other celebrities.

A new era for indian fashion

The Ambani wedding wasn't just about opulence; it was a celebration of Indian design talent. The focus on customization, high-end designer wear, and a blend of tradition and modernity reflects a growing trend in Indian weddings. This lavish event has not only boosted the fashion industry but has also served as a launchpad for future trends, inspiring designers and fashion houses alike. With Reliance Brands, owned by the Ambanis, actively collaborating with and acquiring stakes in designer labels, the future of Indian fashion seems to be intertwined with the Ambani family's vision.

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18 July 2024, Mumbai

New York-based denim menswear brand, Waimea plans to expand its offline operations in India, less than two months after launching its online platform in the country

The retailer has already partnered with Andhra Pradesh-based multi-brand outlet (MBO) Tipsy Topsy, which operates over eight stores in the state and is currently in talks with other multi-brand retailers including Hyderabad-based Ant-Eye.

According to Mahesh Khemlani, CEO, Waimea, India offers a youthful demographic with a penchant for bold fashion choices, aligning perfectly with the brand’s target audience.

Having debuted in the Indian market with its online platform in April 2024, Waimea has since partnered with e-commerce platforms such as Myntra, Ajio, Amazon, and Nykaa Fashion. The brand aims to establish a strong foothold in the market by expanding its retail presence and innovating on its product range to meet consumers’ evolving preferences, says Khemlani.

Founded in 2000 in Puerto Rico, US, as a subsidiary of Rams Import Inc, Waimea is the brainchild of brother duo Rajesh and Mahesh Khemlani. Over the past five years, the brand has sold 3.5 million pieces of denim annually.

The company sells various types of streetwear denim jeans, including stacked, skinny, baggy, French terry, and relaxed. In India, the price range for these jeans starts from around Rs 2,000 and goes up to Rs 8,000.

India is Waimea’s second market after the US. The fashion brand also aims to expand into new global markets, with a primary focus on Indonesia.

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17 July 2024, Mumbai

The Indian apparel industry is set for a grand showcase of trends, innovation, and business opportunities at the 79th National Garment Fair (NGF), organized by the Clothing Manufacturers Association of India (CMAI). Scheduled from July 23-26, 2024, at the Bombay Exhibition Centre and Jio World Convention Centre in Mumbai, the event will feature over one million square feet of exhibition space, highlighting the latest collections in men’s, women’s, and children’s clothing.

A massive industry gathering

This bi-annual trade show attracts 1,100 apparel manufacturers and over 30,000 retailers from across India. The NGF is a symbol of exclusivity and holds significant prestige, serving as India’s foremost comprehensive sourcing fair. It maximizes both time and cost efficiency for all stakeholders, making it a crucial event in the industry calendar.

Rajesh Masand, President of CMAI, remains optimistic despite the consumption slowdown since 2023. He anticipates a rise in domestic demand during the upcoming festive season. The distinct fashion preferences of Indian consumers, along with their demand for unique prints, special designs, and premium merchandise, are expected to drive growth. The latter half of the year is predicted to bring significant improvements across all categories, positioning 2024 as a year of stabilization and paving the way for a brighter future.

Promoting B2B relationships

RohitMunjal, Vice President and Chairman of the Fair Committee, emphasized the fair's role in building business relationships. The National Garment Fair attracts top manufacturers, distributors, retailers, and industry professionals, facilitating B2B sourcing and providing access to new business opportunities. To accommodate the large number of trade visitors and ensure a productive experience for all, the exhibition space has been divided between two of Mumbai’s largest venues. Men’s and Women’s Wear will be showcased at the Bombay Exhibition Centre, while Kid’s Wear will be featured at the Jio World Convention Centre. Over 1,300 apparel brands will present their latest collections for trade bookings.

Embracing sustainability and innovation

Rahul Mehta, Chief Mentor of CMAI, highlighted the fair’s commitment to sustainability and innovation. The NGF aims to showcase cutting-edge apparel trends while fostering business collaborations, with a strong emphasis on both sustainability and novelty. The event represents a collective vision for an industry that balances fashion and dynamism with responsibility and forward-thinking. It serves as a platform where tradition intersects with modernity and where the foundation for a sustainable future is established.

The NGF consolidates itself as the largest gathering of retailers and manufacturers, providing a single sourcing destination. This consolidation enhances efficiency and nurtures seamless networking and collaboration opportunities within the garments and apparel ecosystem.

Building a sustainable future

As a biannual celebration of garments and apparels, the NGF not only showcases the latest trends but also contributes to building a sustainable and thriving future for the Indian apparel industry. The 79th edition is expected to be a monumental chapter in this journey, underscoring the industry's resilience and forward-looking approach.

In summary, the 79th National Garment Fair promises to be a landmark event, reflecting the Indian apparel industry's vibrancy, adaptability, and commitment to sustainability. With a vast exhibition space, an impressive array of participants, and a strategic focus on fostering business relationships, the NGF stands as a testament to the industry's potential and ambition.

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18 July 2024, Mumbai

The Indian menswear market, valued at $26 billion, is witnessing a sharp rise in the luxury and super-premium segment. This niche market is projected to reach even greater heights, with estimates suggesting a CAGR (Compound Annual Growth Rate) that could propel it to $34 billion by 2025 (Istituto Marangoni).

Brands leading the bespoke charge

International brands giants like Armani, Canali, Versace, Zegna, and Cadini are at the forefront, offering not just exquisite apparel but also made-to-measure services. This focus on personalization caters to a growing demand for perfectly tailored garments. Domestic players are not far behind. The Raymond brand, for example, has embraced an omnichannel approach, allowing customers to customize clothing online for a perfect fit. Louis Philippe too has upped its game with made-to-measure options and omnichannel retail experiences, allowing online customization. Even bespoke ventures like Creyate by Arvind are making waves in this space.

Tailwinds for growth

Several factors are propelling this sartorial surge.

Rising disposable incomes: India's burgeoning middle class and high net-worth individuals have more money to splurge on luxury items.

Growing brand awareness: Increased exposure to international fashion trends and a growing appetite for quality are driving the demand for premium brands. Also growing appreciation for Western styles, particularly formal wear, is creating a demand for international luxury brands.

Shifting preferences: Men are becoming more fashion-conscious, prioritizing comfort and thoughtful design over purely price-driven choices alongside traditional values.

The target audience for luxury menswear in India typically comprises business leaders and professionals who require sophisticated formal wear for work and social gatherings. High Net-worth Individuals HNWIs who seek exclusive brands and experiences associated with luxury fashion. And the younger generation with affluent backgrounds, the millennials and Gen Z, influenced by global trends, are increasingly drawn to luxury menswear.

As per Istituto Marangoni luxury retail thrives on a certain level of affluence and infrastructure. Currently, Tier I cities like Delhi, Mumbai, Bengaluru, and Chennai are the primary battlegrounds for luxury menswear brands, owing to their high concentration of wealthy individuals and established shopping districts. However, with growing disposable incomes, Tier II cities like Pune and Hyderabad are showing potential for future expansion.

Can sherwanis be the next big thing?

While western styles dominate the luxury segment, there's a potential for Indian silhouettes to take center stage. The premiumization of traditional wear, particularly sherwanis, is witnessing significant growth, indicating a possible future where Indian menswear goes global in a luxurious avatar.

The Indian luxury menswear market is a well-tailored story of growth. International brands are making their mark, while domestic players are innovating with bespoke services and reinterpreting traditional wear. As consumer preferences evolve and spending power increases, this market promises to be a goldmine for brands that understand the Indian man's desire to dress for success, with a touch of tradition if desired.

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18 July 2024, Mumbai

Events management company, Marriage Mantra will organise two events in July and one event in October to showcase bridal wear designers from across India.

On July 23, Marriage Mantra will organise a ‘Pink Almari’ shopping festival at Blue Sea Worli in Mumba. Focusing on wedding and festive shopping, the event will feature product categories including sarees, ethnic wear, occasion wear, fusion wear, accessories, footwear, jewelry, gift items, and handicraft goods, etc.

On July 26, Marriage Mantra will organise a ‘Parineeti’ shopping fair at the Novotel Hotel in Juhu, Mumbai. Caterinf to Rakhi and trousseau shopping for the festive season, the fair will be attended by premium brands from across India along with several small and medium-sized businesses. .

On October 6, Marriage Mantra will hold a Parineeti shopping fair at the TajHotel in Dubai. This Diwali and wedding themed event will offer non-resident Indians, a wide choice of brands, which do not all have brick-and-mortar stores in the Middle East, to shop from for the festive season.

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 17 July 2024, Mumbai

The 52nd Retail Business Survey by the Retailers Association of India (RAI) reveals a 5 per cent increase in June 2024 sales compared to June 2023.

CEO Kumar Rajagopalan highlighted positive consumer spending trends, with South India leading at a 7 per cent growth, and the quick-service restaurant (QSR) sector experiencing an 8 per cent rise. End-of-season sales in discretionary items also contributed to the boost.

Regionally, North and East India both reported 5 per cent growth, while West India saw a 4 per cent increase. Among various categories, the food & grocery, sports goods, and furniture sectors each grew by 7 per cent.

Rajagopalan is optimistic about the future, anticipating further improvement in consumer sentiment and retail sales due to the upcoming festival season and favorable monsoon predictions.

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18 July 2024, Mumbai

Eponymous brand KartikKumra launched its debut Spring 2025 collection at the Paris Fashion Week.

A blend of optimism and experience, the collection resonated powerfully on the PFW runway. Kumra employed block prints on silk and handloom cotton adorned with embroidered chintz motifs. Exclusive embellished converse sneakers added a contemporary edge

Maintaining core values of sustainability and craftsmanship, Kumra avoided electricity in production. The designer reinterpreted Indian craftsmanship, focusing on tailoring—soft shoulders and boxy silhouette.

While grounded in workwear, Kumra infused whimsy elements into the collection, staying true to Kartik Research's eccentric charm.

Amid a global pandemic and a rebrand, Kumra's eponymous label continues to flourish. In just two-and-a-half years, the brand secured a presence on global luxury e-commerce platforms besides opening a store in New Delhi. Boasting a celebrity clientele, the brand has also bagged a nomination for the LVMH prize.

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18 July 2024, Mumbai

Renowned women's apparel brand known for its contemporary designs, Jisora has unveiled its latest monsoon collection offering eye-catching dresses, co-ord sets, jumpsuits, playsuits, etc.

The collection includes comfortable and stylish co-ord sets, such as the Cotton Three Piece Co-ord Set and the Russian Silk Co-ord Set. Other playful options include the Bubblegum Buzz Pink and Strawberry Snap White co-ord sets.

For those working from home during the rainy season, the collection offers loungewear like the Cozy Cotton Robe in various colors, including the Snug Sorcery Yellow Cotton Robe and the Luxe Lair Blue Cotton Robe.

The new collection features a captivating color palette with playful shades like pink, yellow, and blue, as well as timeless classics like black and white. Peppy names such as ‘Fluffy Frenzy,’ ‘Watermelon Sugar,’ and ‘Foxy Fusion add a touch of youthful and energetic vibe.

The collection was designed with a focus on the monsoons, says KhushbooSethi, Co-founder, Jisora. It offers a versatile range from chic jumpsuits for dinner dates to cozy robes for rainy evenings. Through this collection, Jisora empowers its customers to navigate the season with confidence, offering the perfect outfit for any occasion, she adds.

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India's retail sector is undergoing a transformation, driven by a growing young population, rising disposable incomes, and a shift in consumer preferences. And this change is impacting the retail landscape, with both high streets and malls vying for customer attention.

At tale of two retail experiences

The battleground of Indian retail is a duel between traditional high streets and modern shopping malls. While malls offer a curated shopping experience with diverse brands and entertainment options, high streets provide a more personalized touch and easier accessibility. A recent Knight Frank report ‘Think India Think Retail 2024’, highlighted organized retail in India accounts for only about 10 per cent of the total market. The report stated malls thrive in Tier I cities and metros, attracting premium brands and higher rents. However, smaller malls in Tier II, III cities struggle to compete with high streets on convenience and cost. In smaller cities high streets dominate, offering a familiar and cost-effective option for both retailers and consumers. However, fragmented ownership and lack of standardization can be challenges.

The distribution of retail space across India is skewed towards Tier I cities. CBRE data reveals that in 2023, Tier I cities like Mumbai and Pune witnessed a growth in leasing activity, with record highs of 1 million sq ft and 0.8 million sq ft, respectively. Tier II, III cities, however, present a significant scope for growth.

Smaller cities as growth poles

Smaller cities have a growing middle class with increasing purchasing power. The gap lies in the lack of organized retail options and modern shopping experiences. This presents opportunities for:

Expansion of established retail chains: Leading retailers can establish smaller format stores or franchise models to cater to Tier II, III markets.

Rise of regional players: Local brands and regional retailers can fill the gap for a more localized shopping experience.

Development of community centers: Creating smaller shopping centers with a mix of retail, entertainment, and community spaces can cater to the needs of residents.

However despite the potential, there are constraints to consider in small cities. One major constrain is the limited availability of quality retail space. Tier II and III cities often lack the infrastructure and real estate options available in metros. Then there are challenges of land acquisition. Complex land ownership laws can hinder the development of large retail spaces. Obtaining permits and navigating complex regulations can be a time-consuming process.

The growth of the retail space is primarily driven by the fashion and apparel sector, followed by electronics and homeware segments. This aligns with the rising fashion consciousness and growing demand for consumer durables among India's young population.

Business models

The traditional business model in malls involves fixed rentals for retail space. However, there's a growing trend of revenue-sharing models where rent is a portion of the retailer's sales. This model offers flexibility for both parties. High streets typically operate on a fixed rental model. The profitability of these models depends on factors like location, foot traffic, and brand popularity. Malls generally offer higher rentals but come with the benefit of higher foot traffic.

Fractional ownership models, where multiple investors co-own a retail space, are not yet prevalent in India. However, with the rising demand for retail space and increasing investor interest in real estate, this model has potential for future growth. Its success will depend on clear regulations, transparent management structures, and investor confidence.

The future of Indian retail space lies in a multi-format approach. Malls will continue to play a role in Tier I cities, while high streets and smaller shopping centers will cater to Tier II and III cities. The rise of e-commerce will also influence physical retail, with a focus on creating an omnichannel experience that seamlessly integrates online and offline shopping. As the retail sector evolves, addressing the needs of Tier II and III cities will be crucial for sustained growth.

18 July 2024, Mumbai

Luxury fashion brand, ArchanaKochhar unveiled its latest collection at the launch of Estetica Hair Magazine in New Delhi. Titled 'Midnight Ebony', the showcase epitomised Indian festive glamour with a blend of traditional and fusion styles.

Kochhar's collection featured glittering lehengas, suits, and midnight black ensembles inspired by the night sky, adorned with intricate hand embroidery. Directed by Shie Lobo, the fashion show was held at The Shangri-La, New Delhi, complemented by fine jewelry from PyareLalJaggannathSaraf and hairstyling by event salon partner Luca Piattelli.

Describing the collection, as a tribute to nighttime shimmers and the contemporary allure of Indo-Western silhouettes, Kochhar says, perfect for evening shimmers and celebratory festivities, the collection aims to capture the essence of modern young women

The event marked the introduction of Estetica Hair Magazine in India, bringing together luminaries from the capital's fashion and beauty industries. With a global presence spanning 60 countries, as noted on its Instagram page, Estetica Hair Magazine's launch in India added a vibrant touch to the country's fashion landscape.

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17 July 2024, Mumbai

Zudio a venture by Trent has emerged as a frontrunner in the burgeoning Indian value fashion segment, boasting an impressive 203-store expansion in FY24. This meteoric rise begs the question: what sets Zudio apart from its contemporaries.

Strategic expansion & focus on accessibility

Unlike traditional retail giants, Zudio thrives on a smaller store footprint of around 10,000 sq. ft. allowing it to penetrate numerous micro-markets. This focus on accessibility is evident in their aggressive expansion strategy, entering 46 new cities and increasing presence in 48 existing ones in FY24. Furthermore, Zudio prioritizes minimizing lead times, ensuring fresh collections reach stores quickly. This focus on trend-driven agility resonates with today's fast-fashion consumers. Zudio's capital expenditure for a new store falls within the Rs 3 crore to Rs 4 crore range, making expansion quicker and more flexible. Trent themselves acknowledge this in their FY24 report, stating, "We recognize it is critical to be fashion-forward and closely synchronized with evolving trends."

Sourcing and cost optimization

Zudio's success can also be attributed to its intelligent sourcing strategy. By procuring merchandise almost entirely from within India, the brand benefits from faster turnaround times and cost optimization. This translates into attractive price points for consumers, a crucial factor in the value segment. Industry analysts at Motilal Oswal Financial Services acknowledge this, highlighting Zudio's impact on the value retail landscape, which has seen similar value-focused entrants from established players like Reliance Retail and Shoppers Stop.

Sourcing from India also means, faster inventory turnover as domestic sourcing allows Zudio to react quicker to trends and replenish stock faster. Local sourcing potentially reduces costs compared to relying solely on imports. The success of Zudio's strategy is evident. A report by Wazir Advisors predicts the Indian value retail market (excluding groceries) to reach $170 billion by 2026, growing at a CAGR of 15 per cent. This segment is projected to outpace the overall retail sector's growth, highlighting the immense potential Zudio is tapping into.

Co-existence with Westside

Interestingly, Zudio co-exists with Trent's established brand, Westside, which also operates in the value segment. However, analysts at Jefferies highlight the clear differentiation between the two formats. Westside caters to a slightly different value segment with a larger product range and a stronger online presence, while Zudio focuses on physical stores and rapid trend cycles. This strategic positioning allows both brands to thrive under the same parent company, minimizing internal competition.

And Zudio isn't resting on its laurels. The brand has significantly transformed its product range over the past few years, offering a more curated selection that aligns with evolving trends. This agility ensures Zudio stays relevant and exciting for its target audience.

Zudio's exceptional growth can be attributed to a combination of factors: its accessible store footprint, focus on fast-fashion trends, strategic sourcing, and its positioning within the booming Indian value retail market. By catering to the needs of budget-conscious young shoppers, Zudio has carved a distinct niche for itself, establishing a blueprint for success in the competitive world of fashion retail.

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16 July 2024, Mumbai

Marking a significant achievement in its expansion journey, V2 Retail has reported a robust 37 per cent growth in sales-to-sales in the first quarter of the current fiscal year.

The company closed the previous fiscal year with a turnover of Rs 1,150 crore and aims to achieve a turnover of Rs 1,600-1,700 crore this year. AkashAgarwal, Whole-Time Director, attributes their success to maintaining a low markup of 55 per cent in the fashion industry, resonating well with customers and ensuring rapid breakeven of new stores.

As one of India's fastest-growing retail chains, V2 Retail has strategically positioned itself as a value-fashion destination, primarily catering to Tier II and III towns. Its expansion strategy remains aggressive yet targeted, with plans to open 40 new stores this year, already launching 10 in the first quarter. This expansion focuses on established regions such as Bihar, Odisha, UP, West Bengal, and Jharkhand, leveraging existing brand presence for customer loyalty and recognition.

The company's focus on Tier II and III cities aligns with its cost structure, where the average rental per square foot is approximately Rs 50. This cost efficiency, combined with increasing disposable incomes and value-consciousness among the middle class, makes these regions ideal for V2 Retail's value-fashion offerings.

Recognising the growing importance of digital presence, V2 Retail plans to launch its e-commerce business within the next two months, aiming to provide a seamless shopping experience across online and offline channels. The e-commerce platform will display location-specific inventory to minimise return costs and ensure faster delivery.

Looking ahead, V2 Retail plans to open 50 new stores annually for the next three years, targeting a turnover of nearly Rs 3,000 crore by the end of this period. The company is also committed to sustainability, incorporating recycled yarn into its products to align with global trends in sustainable fashion and cater to environmentally conscious consumers.

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