Bengaluru-based premium ethnic brand Soch is riding a success story as it closed last fiscal with topline revenue of Rs 401 crore, which marked a 60 per cent growth over previous year. Despite the ethnic sector facing multiple challenges, Soch Apparel surged ahead with a 9 per cent Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA). Supporting the strong performance, CEO and Co-Founder Vinay Chatlani says, post-Covid consumer rebound and a robust festive period were the main drivers of their success and it helped the brand expand brick and mortar presence across the country.

The success of the expansion strategy has made Chatlani plan on expanding further in multi-brand outlets and establishing presence in large format stores next year. Online presence would continue playing a vital part and given the required support, according to Chatlani. As the brand pushes forward to join the Rs 1,000 crore brands club, the journey could possibly take the next three to four years.

Channels that made last fiscal stellar 

While the direct-to-consumer channel clocked in a quarter of the overall online sales, Soch Apparel plans to make their website work harder and contribute to more than half of all online sales within the next three to four years as a part of its strategy to reach the Rs 1,000 crore mark. The brand is also relying on Indian diaspora outreach through international e-commerce to generate more online sales. Its overall online business contributed 11 per cent to its revenues and the plan is to increase it 14 to 15 per cent next year. Interestingly, omni-channel accounts for 40 per cent of the brand's e-commerce sales which means 40 per cent of online orders are fulfilled by the stores.

Soch Apparel is being sold offline across 40 large format stores and through 165 exclusive brand outlets (EBOs) across India. The expansion plan for the next fiscal is to increase its presence in an additional 45 large format stores and 25 more EBOs. According to Chatlani, the 25 EBOs would be a mix of company owned outlets and franchised ones. At present, Soch Apparel owns 55 per cent of the 165 EBOs and 45 per cent have been franchised.

Clearly, as a premium brand of ethnic wear, Soch Apparel has seen 66 per cent of its revenues being generated from metros and the remaining 34 per cent from Tier I and II towns. Almost 68 per cent of its stores are in metros and Tier I cities and the remaining 32 per cent are in Tier II and III towns. Chatlani states, being a Bengaluru-based brand, half its total revenues are from South India, with eastern India contributing 20 per cent and western and North India 15 per cent each.

Moving forward

In its expansion plan, with the next year and a half, the company would like to reach more Tier II and III towns and convert the franchised store to company-owned in the ratio 7:3. In the current scenario, its presence through EBOs is evenly split between high streets and malls, it sees high streets as the focal retail presence in coming years. Next year, Soch will launch its 5,000 sq. ft. store at an undisclosed location in a southern metro whereas presently its EBOs are not over 1,600 sq. ft. Expansion across North India will also be a priority.

Exclusively ethnic and premium, Soch Apparel has pinned its hopes on a growing consumer base who are happy to spend on such clothing beyond festive occasions.

16 September 2023, Mumbai

Pine Kids, the renowned children's clothing brand under FirstCry, has inaugurated its maiden Exclusive Brand Outlet (EBO) in India at Z Square Mall, Kanpur, Uttar Pradesh.

This marks a significant milestone for FirstCry.com, a BrainBees Solutions Pvt. Ltd. venture founded in 2010 by Supam Maheshwari and Amitava Saha.

Background

Initially an e-commerce platform, FirstCry transitioned to a hybrid model and introduced its first brick-and-mortar store in 2011.

With over 25 million customers across domestic and international markets, FirstCry boasts an extensive inventory of 2,000+ national and international brands, including renowned names like Tommy Hilfiger, Nike, Puma, and Disney.

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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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23 September 2023, Mumbai

A Tailor-Made Initiative with Comprehensive Benefits

The Apparel, Made-Ups & Home Furnishing Sector Skill Council (AMHSSC) has lauded the PM-Vishwakarma Yojna, a tailor-made initiative to boost the apparel industry and empower artisans. The scheme offers a range of benefits, including:

• Elevating apparel quality, scale, and reach by integrating artisans into the MSME value chain.
• Providing comprehensive government support, such as financial assistance, advanced skill training, expertise in modern digital techniques, and eco-friendly green technology adoption.
• Amplifying brand recognition and providing greater visibility and recognition to skilled artisans.
• Strengthening market connections by establishing robust linkages with local and global markets.
• Empowering remote artisans through skill development and quality training.

The PM-Vishwakarma Yojna is expected to have a significant impact on the apparel industry and its skilled artisans.

Latest Textile Events

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.

20 September 2023, Mumbai

The Khadi and Village Industries Commission (KVIC) signed three Memoranda of Understanding (MoUs) with Prasar Bharati, NBCC (India) Limited, and Digital India Corporation on September 19, 2023, in line with Prime Minister Shri Narendra Modi's vision of 'Local for Vocal' and 'Atmanirbhar Bharat'. The MoUs aim to modernize KVIC and promote its products among the youth.

MOU

Under the MoU with Prasar Bharati, anchors from DD News and DD International channels will soon wear Khadi apparel. NBCC (India) Limited will construct modern infrastructure for KVIC across the country, and KVIC will collaborate with Digital India Corporation to ensure its technology remains up-to-date.

On the same occasion, Shri Kumar disbursed a margin money subsidy of Rs 150 crore to beneficiaries under the Prime Minister's Employment Generation Programme.

He also unveiled a dashboard and an ATR Portal to assist the Chairman in monitoring the Commission's ongoing schemes and to streamline the tracking of actions taken in response to the Commission's decisions.

Inspirational

In his address, Shri Kumar highlighted Prime Minister Shri Narendra Modi's efforts in promoting Khadi on the global stage. He noted that the Prime Minister's global branding of Khadi has bestowed a new global identity upon it. Shri Kumar also emphasized that Khadi has been effectively utilized by Prime Minister Shri Narendra Modi over the past nine years to address issues such as poverty alleviation, artisan empowerment, food security, and women's empowerment.

Great going

Khadi has become a powerful tool and weapon against unemployment.

In the last financial year, under the Prime Minister's leadership, the trade of Khadi and village industry products exceeded Rs 1.34 lakh crore, while generating 9.54 lakh new jobs.

The program was attended by KVIC officers and employees.

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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.

Latest Textile Events

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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