19 August 2023, Mumbai
Sources indicate that the negotiations between Bata India and Adidas are progressing toward an advanced stage for a potential collaboration, with the final details of the partnership being worked out.
This information was conveyed on the social media platform X, as reported by CNBC-TV18.
19 August 2023, Mumbai
Swedish multinational retail giant Hennes & Mauritz (H&M) marked its entry into Ranchi with a new two-storey store at the Mall of Ranchi on Ratu Road, Jharkhand. This launch brings the total number of H&M stores in India to 53.
Continued expansion
H&M's Chief Financial Officer for India, Louis Coucke, Ranchi store's opening andthis follows the recent inauguration of the brand's 52nd store in the country, located at Palladium mall in Ahmedabad.
Diverse apparel range
H&M's offerings include a wide range of menswear, women's wear, and kidswear, available both in-store and through their online platforms: website and application.
Independence day offers
Celebrating Independence Day, H&M is offering customers up to 50% off with an additional 15% discount on sale items through their app and website.
Eight-year journey in India
Having entered the Indian market eight years ago, H&M has rapidly expanded, establishing a strong presence with 53 stores across 29 cities. Additionally, the brand has extended its reach through online platforms, including its own website, app, and the e-commerce marketplace Myntra.
19 August 2023, Mumbai
India's Go Fashion, proprietor of the popular women's wear label 'Go Colors', is planning to expand its retail footprint to sustain its recent growth surge. The firm, headquartered in Chennai, is currently established in 143 cities with 630 exclusive brand outlets.
The management is pleased with the progress made by Go Colors in the last year having strengthened its brand presence and are confident of sustaining this growth momentum in the coming years.
D2C
The company plans to fortify its Direct-to-Consumer Channel, utilizing its own managed brand outlets to market products. It will also focus on expanding its presence in tier II and III cities.
The strategic widening of the brand's retail reach and the introduction of new products contributed to significant revenue growth.
Financials
The company's financials reflect this successful trajectory, with a 29 percent revenue increase from INR 189 crore (FY 2017-18) to INR 665 crore (FY 2022-23) and a 43 percent rise in EBITDA to INR 212 crore (FY 2022-23) from INR 36 crore (FY 2017-18).
The expansion of Go Fashion's retail footprint is a positive development for the Indian women's wear market. It will provide more consumers with access to the brand's products and services, and it will help to boost the overall growth of the market.
11 August 2023, Mumbai
Nike has introduced its groundbreaking 'Nike Rise' concept to Chennai, debuting at the Phoenix Marketcity Mall in Velachery. Exclusively showcasing the coveted Air Jordan collection, the store merges online-to-offline services with a distinctly industrial flair.
Fascinating
The expansive outlet features a sleek interior adorned with monochromatic sports imagery, evoking the energy of a gymnasium. Notably, the store marks the sole exclusive Nike retailer in the state to house the Air Jordan line.
Among its digital offerings are "scan to learn," buy online for in-store pickup, digital returns, and curbside pickup, providing a seamless shopping experience.
This trailblazing venture follows Nike's prior successful Nike Rise stores in Guangzhou and Seoul, emphasizing interactive shopping to elevate customer engagement.
Zodiac Clothing Company Limited released its consolidated financial results for the period ending June 30, 2023.
Quarterly Financial Performance (QoQ)
The company's total income for the quarter stood at Rs. 34.9457 crores, declining from Rs. 46.0892 crores in the previous quarter.
Net profit/(loss) was reported at Rs. -9.1608 crores, contrasting with the previous quarter's net profit/(loss) of Rs. 33.3671 crores.
Earnings Per Share (EPS) for the quarter was Rs. -3.52, down from Rs. 13.40 in the previous quarter.
Yearly Financial Performance (YoY)
Comparing year-on-year results, the company's total income was Rs. 34.9457 crores, down from Rs. 42.4793 crores in the same period last year.
Net profit/(loss) for the quarter was Rs. -9.1608 crores, compared to a net profit/(loss) of Rs. -6.7883 crores in the same period last year.
The reported EPS was Rs. -3.52, compared to Rs. -2.74 in the same period last year.
14 August 2023, Mumbai
TT Limited: A Journey from Fiber to Fashion
TT Limited is a leading apparel manufacturer with a rich legacy of 45 years. The company has consistently adapted its production locations to leverage competitive advantages across clusters.
In the 1990s, TT Limited established a spinning unit in Gajraula, Uttar Pradesh. The unit was later transformed into a garmenting center after the company divested its spinning assets.
Today, TT Limited is strategically shifting towards the Noida/Pilkhuva cluster in Uttar Pradesh and the Greater Kolkata, West Bengal area. These locations are home to established garment hubs with skilled labor and other benefits.
TT Limited has already begun work on new garments units in Noida/Pilkhuva and Greater Kolkata. The company also plans to expand its Tirupur unit by 2024-25, which would double its capacity.
In addition to these investments, TT Limited's Managing Director, Shri Sanjay Jain, has inked an MoU with the Uttar Pradesh government for a textile unit under the PM Mitra Scheme in Hardoi District. The company also plans to build a fabric manufacturing unit in Surat, aligned with the Textile Ministry PLI2 scheme.
TT Limited's board has approved the transfer of ownership of its Gajraula unit. This move is expected to boost profitability by reducing debt and stemming interest outflows. The restructuring is targeted for completion by March 2024, and it aims to reduce debt by 74% from pre-COVID levels.
Despite global challenges stemming from the Ukraine war and demand recession, TT Limited is confident of maintaining a positive trend. The company is focusing on value-added branded segments and efficient infrastructure utilization.
TT Limited is also revitalizing its yarn, fabric, and export business, which has been impacted by various factors including COVID, geopolitical tensions, and price fluctuations.
India's robust GDP growth and substantial population have strengthened the Textile Industry's resilience against global headwinds.
Overall, TT Limited is a leading apparel manufacturer with a rich legacy and a bright future. The company is committed to innovation and growth, and it is well-positioned to succeed in the years to come.
10 August 2023, Mumbai
Brand Concepts Ltd, a prominent fashion retail house specializing in travel gear, handbags, and lifestyle accessories, has announced an exclusive partnership with United Colors of Benetton.
Innovative collaboration
This collaboration will introduce a unique collection of travel accessories and small leather items tailored for the Indian market.
Under the licensing agreement, Brand Concepts will oversee the comprehensive design, manufacturing, and distribution aspects, while United Colors of Benetton India will infuse creative inspiration rooted in its vibrant DNA of colors and social awareness.
Set new standard
Embarking on an innovative journey to engage with our fashion-conscious consumers in a dynamic market. This alliance, he emphasized, is a fusion of iconic legacies and a shared commitment to innovation, with the aim of revolutionizing the fashion landscape.
The strategic partnership, exclusive to India, represents a concerted effort to expand the market presence of both entities.
The thoughtfully curated collection will be accessible through Bagline's official e-commerce platform, as well as popular online marketplaces like Amazon and Myntra. Additionally, the assortment will grace all Bagline retail outlets.
Fashion & functionality
Benetton India expressed enthusiasm that this collaboration signifies a significant milestone in our journey, combining the unparalleled expertise of both organizations to craft creative, stylish, and utilitarian offerings for our discerning clientele.
With a rich portfolio including renowned brands like Tommy Hilfiger, Aeropostale, and Sugarush, Brand Concepts is at the forefront of design and omnichannel retail solutions.
This pioneering partnership with United Colors of Benetton underscores their shared commitment to elevating product quality, durability, and aesthetics in the world of travel gear and leather goods.
19 August 2023, Mumbai
Global casual wear brand Boss has unveiled its new flagship store in Chandigarh, strategically enhancing its physical retail footprint in northern India. The store, situated within Nexus Elante Mall, is operated by Reliance Brands Limited.
Elevated menswear collections
The newly inaugurated Boss store, introduced by Reliance Brands Limited, showcases an array of menswear collections. From refined workwear to leisure attire and accessories, the store epitomizes timeless elegance and superior craftsmanship.
A luxurious shopping experience
Boss introduces refined luxury and style to the city, as it beckons fashion enthusiasts and discerning individuals to explore its iconic menswear collections. Exceptional fabric quality and tailoring underscore Boss's commitment, paired with impeccable customer service and a modern shopping ambiance.
Diverse offerings
Apart from sportswear tailored for leisure activities, the store also houses a dedicated section for meticulously crafted suits. Positioned in the premium market segment, it strives to fulfill comprehensive wardrobe needs for men.
The Hugo Boss connection
Boss, a cornerstone of the premium apparel enterprise Hugo Boss, hails from Metzingen, Germany. With a robust retail presence across 132 countries, Hugo Boss boasts approximately 7,400 points of sale, including online stores in 70 countries. Notably, the group achieved a remarkable €3.7 billion in sales during the 2022 fiscal year.
TT Limited: A journey from Fiber to Fashion
TT Limited is a leading apparel manufacturer with a rich legacy of 45 years. The company has consistently adapted its production locations to leverage competitive advantages across clusters.
In the 1990s, TT Limited established a spinning unit in Gajraula, Uttar Pradesh. The unit was later transformed into a garmenting center after the company divested its spinning assets.
Today, TT Limited is strategically shifting towards the Noida/Pilkhuva cluster in Uttar Pradesh and the Greater Kolkata, West Bengal area. These locations are home to established garmenting hubs with skilled labor and other benefits.
TT Limited has already begun work on new garmenting units in Noida/Pilkhuva and Greater Kolkata. The company also plans to expand its Tirupur unit by 2024-25, which would double its capacity.
In addition to these investments, TT Limited's Managing Director, Shri Sanjay Jain, has inked an MoU with the Uttar Pradesh government for a textile unit under the PM Mitra Scheme in Hardoi District. The company also plans to build a fabric manufacturing unit in Surat, aligned with the Textile Ministry PLI2 scheme.
TT Limited's board has approved the transfer of ownership of its Gajraula unit. This move is expected to boost profitability by reducing debt and stemming interest outflows. The restructuring is targeted for completion by March 2024, and it aims to reduce debt by 74% from pre-COVID levels.
Despite global challenges stemming from the Ukraine war and demand recession, TT Limited is confident of maintaining a positive trend. The company is focusing on value-added branded segments and efficient infrastructure utilization.
TT Limited is also revitalizing its yarn, fabric, and export business, which have been impacted by various factors including COVID, geopolitical tensions, and price fluctuations. India's robust GDP growth and substantial population have strengthened the Textile Industry's resilience against global headwinds.
Overall, TT Limited is a leading apparel manufacturer with a rich legacy and a bright future. The company is committed to innovation and growth, and it is well-positioned to succeed in the years to come.
10 August 2023, Mumbai
From a humble beginning as a small manufacturer of coarse woolen blankets in 1922, Raymond, perhaps one of India’s most reputable brands in the textile and apparel sector had scaled glorious heights as an international supplier of the finest textiles.
It then diversified into consumer care, realty, industrial production, and engineering, a diversification that didn’t bode well for the Raymond group.
As chairman and MD Gautam Singhania points out, the diversification didn’t fit into the vision he had for the brand, and for the past 20 years, Raymond has been busy shedding the weight by exiting the steel, cement, and synthetics businesses.
Leaner Raymond performs better
Raymond Ltd earnings for the fourth quarter of 2022-23 were sales worth Rs 21,501.8 million compared to Rs 19,581 million a year ago. Revenue was Rs 21,922 million compared to Rs 20,317.4 million a year ago.
Being debt-free - this corporate action has been initiated with the sale of its FMCG business under RCCL to GCPL for Rs 2,825 crore. The move to demerge the lifestyle business from Raymond enables it to be net debt free and will make it an independently listed entity.
As of December 2022, the company had gross debt of Rs 2,400 crore and a net debt of Rs 930 crore. The three consumer care brands sold are Kamasutra condoms, grooming brands of Park Avenue, and KS perfumes and deodorants.
What ailed the group
Pre-Covid, 2019 was not a good year for Raymond. The Securities and Exchange Board of India (Sebi) issued a show-cause notice alleging multiple securities market violations.
The allegations included failure to obtain necessary approvals for related party transactions in the JK House episode, corporate governance violation for non-disclosure of material information about litigations, and non-compliance with shareholder reclassification norms.
The pandemic brought with it more disasters as the consumer care and lifestyle divisions faced their most demanding times in decades as consumer spending tightened hard and fast.
Restructured and renewed, Raymond powered for growth
Raymond is restructuring itself into three businesses: real estate, lifestyle/textiles, and engineering. Eventually, the target is 17-20 percent EBITDA growth and a 15 per cent revenue increase. The overall group’s revenue target has been set for Rs 10,000 crore in FY24. The company also will have to separate enlisted companies - Raymond and Raymond Consumer Care.
Broadening from occasion-wear
Raymond’s lifestyle business plans to double its business size in the next five years and 2023 has been a promising year already as it saw 19 per cent growth in the branded apparel segment. Strategic work is underway to bring Colors, Park Avenue, and Raymond RTW back on track for growth and expansion.
Inclusivity; There are 300 Exclusive Brand Outlets (EBOs) between these three brands, and the plan is to increase the number to 600 by 2025-26. As the lifestyle division trio of power brands, they contribute between 60 and 65 percent to the business. The newly launched label Ethnix will also be in focus as a unique and exclusive Raymond offering.
Ethnix currently has 75 EBOs, the plan is to grow the number to 300 by 2025-26.
Raymond also wants to continue maintaining its positioning itself as India’s finest occasion and festive wear, particularly for men, it also wants to embrace that 40 percent of men’s apparel sector is casual wear, and Colors, Park Avenue, and Raymond RTW are ready to grab their share of the pie.
19 August 2023, Mumbai
TCNS Clothing Ltd witnessed its Q1 net loss expand to Rs 37 crore ($4.5 million) for the quarter ending June 30, compared to a net loss of Rs 2 crore in the prior year's corresponding period.
Revenue dips, market challenges persist
The company's quarterly revenue dipped by 12 percent to Rs 244 crore, contrasting with the previous fiscal year's Rs 276 crore.
Market conditions impact performance
TCNS attributed the loss to "subdued market conditions" that persisted throughout the quarter, particularly affecting tier 2, 3 cities, and beyond.
Mixed store growth and online surge
While adding 2 net stores during the quarter, TCNS experienced a 56 percent YoY growth in online sales, driven by gradual model stabilization.
TCNS Clothing's diverse portfolio
As a prominent player in India's womenswear segment, TCNS Clothing manages brands like W, Wishful, Aurelia, and Elleven. The group maintains a broad market presence through its extensive network, spanning 4000+ sales points across omnichannel and partnerships with offline and online retailers.
12 August 2023, Mumbai
Page Industries, the maker of Jockey and Speedo brands of innerwear and sportswear, reported a profit of INR 158.36 crore for the first quarter of FY23-24, down 23.5% from INR 207.04 crore in the same period last year.
Revenue from operations fell 7.5% to INR 1240.03 crore. EBITDA for the quarter was INR 241.80 crore.
Interim dividend
The company also announced its first interim dividend of INR 75 per share for FY23-24. The record date for the dividend is August 19, 2023, and the dividend will be paid by or before September 7, 2023.
Management of the company is confident that the current challenges in revenue and volume growth are transient.
Investment to drive future
He said that the company is focused on future shaping through continued investments and is optimistic about the growth prospects of the apparel and retail sector in India.
Page Industries holds exclusive licenses from Jockey International and Speedo International for the manufacture, distribution, and marketing of Jockey and Speedo products in India, respectively.
The company's products are available through a wide network of outlets, including exclusive brand stores, multi-brand outlets, and online platforms.
10 August 2023, Mumbai
Iconic fashion brand Madame's groundbreaking "Fashionable & Free" ad films have ignited a style revolution. With the first film celebrating "Bias-Free, Comparison-Free, and Judgement-Free" values, the second film, premiering August 11, champions "Shackle-Free, Obligation-Free, and Baggage-Free" essence.
Break free
Madame's message empowers individuals to break free from societal constraints, unleashing their unique fashion narrative and soaring confidently. Sumedha Jain, Madame's Head of Marketing Communications, enthused, "These ad films inspire bold style choices and self-empowerment."
Catch the cinematic brilliance and transformative spirit on Madame's YouTube channel from August 9. Fashion isn't just attire; it's a canvas for fearless self-expression.
