07 August 2023, Mumbai

The company's performance seems to have been impacted by a net loss of Rs 161.62 crore, which is a notable contrast from the profit of Rs 94.44 crore in the same period of the previous financial year. Revenue up

The revenue, on the other hand, exhibited growth, rising by 11% to Rs 3,196.06 crore. However, the EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) faced a decline of 37.6% down to Rs 292.3 crore.

The company attributed this loss to higher costs and subdued demand, which suggests that increased expenses and potentially weaker customer demand played a significant role in their financial performance during this period.

Festive spirit

It's noteworthy that the company expects a rebound in discretionary spending with the beginning of the festive season. This optimism could be based on historical trends where consumers tend to spend more during festive seasons.

In terms of expansion, the company's branded business network managed to add 28 stores on a net basis during Q1. Additionally, its ethnic businesses extended the network by 12 stores. This indicates a continued effort to expand their physical store presence despite the challenging financial performance.

Rising online sales

Furthermore, the company's e-commerce sales demonstrated growth, increasing by 12% year over year (YoY).

This suggests that their online sales channel has been performing relatively well compared to their overall financial performance.

It's important to note that financial results can be influenced by a variety of factors, including economic conditions, consumer behavior, industry trends, and management decisions.

The company's ability to navigate these factors and execute its strategies will likely determine its future financial performance.

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28 July 2023, Mumbai 

Aza Fashions, India's esteemed multi-designer luxury fashion retailer, proudly announces the grand inauguration of its latest store in the heart of Kolkata. Founded in 2005 by the visionary Dr. Alka Nishar, Aza has established itself as a leading fashion authority in the country, with stores in Mumbai, Delhi, and Hyderabad.

Landmark

The launch in Kolkata is a significant milestone for the brand as it expands its presence nationwide. Boasting an unmatched selection of designer apparel and accessories, Aza is all set to revolutionize the fashion landscape of the city.

Desi goes global

With over 75 designers specializing in bridal, wedding, festive, Indo-western, and contemporary clothing, as well as jewelry and accessories, Aza strives to keep its collections fresh and exclusive. Aza Fashions emphasized Aza's unique curation and its mission to take Indian creativity and design to a global audience.

Discovery

The strategically located store on Lee Road, near the Forum Mall back gate, spans an impressive area of 5,350 square feet across two floors, radiating elegance and sophistication.

At Aza Kolkata, fashion enthusiasts will discover an exclusive selection of creations from renowned designers such as Varun Bahl, Jayanti Reddy, Mishru, Rimple& Harpreet Narula, and many more, catering to diverse preferences and occasions.

Omni-channel

In addition to physical stores, Aza's luxury e-commerce platform was launched in 2015, offering clients the convenience of shopping the best of Indian fashion from anywhere in the world.

The online portal retails a curated selection of luxury apparel and accessories from over 1000+ of India’s most recognized and talented designers, making it accessible to customers worldwide.

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01 August 2023, Mumbai

Breakbounce's Fearless collection captures the vibrant essence of street culture, reflecting the brand's commitment to movement and authenticity.

'Taika' and 'Voice' ranges

The 'Taika' range features Breakbounce's tiger mascot, embodying born leaders and brave souls within a fierce tribe driven by creativity. Each clothing piece boasts a marquee element, making a bold statement.

The 'Voice' range, on the other hand, symbolizes the brand's voice resonating with the wearer. Offering a fusion of comfort and style, this selection complements individual personalities and encourages self-expression.

Brand's Ethos

To fortify the brand's position and engage its customer base, G.O.A.T Brand Labs invested in community-building efforts through strategic collaborations.

By partnering with influencers like choreographers Tejas Dhoke & Ishpreet Dang and breakdancer Bboy Wildchild, Breakbounce showcases its versatility and connects with the youth.

Credence

Breakbounce continues to be a preferred brand, delivering high-quality street fashion that empowers self-expression and positive change. With a commitment to authenticity and innovation, Breakbounce aims to leave an indelible mark on the fashion landscape.

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27 July 2023, Mumbai

Once the privilege of India’s Tier I cities, fashion is playing out well in the surge of Tier II cities across the country.

There was a time when Tier II city consumers planned their shopping extravaganzas during their sojourn to metros or Tier I cities but the scenario has changed.

Thanks to the expanding commercial retail sector and e-commerce, Tier II cities offer just as much business. Malls, high streets, fashion launches, and events, the erstwhile hubs of glamour in metros are now in Tier II cities like Goa, Jaipur, Vadodara, Thane, Coimbatore, and Chandigarh.

Indian fashion playing to extended galleries

The local fashion sector has finally been able to spread its wings that were previously tethered to metros and Tier I cities. And happy they are as an enormous population of young aspirants of the good life with higher disposable incomes than their previous generations comes into play in these towns.

While Indian ethnic wear still holds strong due to its legacy and a certain degree of societal acceptance, fusion wear, western wear, and contemporary styles are also doing well. And big brands have been quick to realize where the business lies.

Staggering growth

Having seen the emerging Indian fashion scene, UNIQLO, the Japanese global apparel retailer, launched its first Indian outlet in October 2019 in Delhi, and two years later, stores came up in Lucknow, Chandigarh, and Zikarpur in Punjab.

As per a KPMG report published in collaboration with Facebook India in 2022, the fashion market in Tier II cities is growing at a staggering 12-14 percent annually. One of the key factors driving the fashion boom in these cities is the expansion of organised retail and the establishment of shopping malls.

Unfolding fashion story

The report also states mobile influence on fashion retail is set to soar by 2022. Seven in 10 fashion accessory purchases in 2022 will be mobile-influenced, nearly half of which will be driven by Facebook, amounting to a $110 billion sales opportunity by 2022.

The report also stated, due to increased urbanization and per-capita income, demand for fashion will increase not only in Tier I cities but also in Tier II, and III cities.

Retail landscape

Both online shopping platforms and mobile networks are covering more and more rural areas and this will unlock a large section of the market.

The report concluded fashion brands need to adapt to changing retail landscape in India in order to tap into this potential income.

ICRA has stated India’s fashion retail entities are poised to grow by 45 percent year-on-year in FY 2023 and Tier II and III cities will play a key role in this growth.

E-commerce spearheads the perception change

If social media, local influencers, and digital-savvy fashion brands hungry to explore new territories started the change of perception in clothing and styling within communities across India’s landscape dotted with Tier II, and III cities then local fashion events showcasing the latest trends in beauty and fashion and booming e-commerce brought change the ground.

With the rise of online shopping platforms and increased accessibility of smartphones and the internet, fashion-conscious individuals in these cities now have access to a wide array of trendy clothing and accessories. As RedSeer Consulting report says, online fashion market in Tier II cities is projected to reach $7-9 billion by 2023.

Brightspot

As India shines moves towards emerging as the fifth largest world economy, could fashion imprinting itself across the country be far behind?

Today, the Tier II, and III cities have not only extended the market for established labels but also given rise to many aspiring fashion brands and designers who can carve their own customer base.

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31 July 2023, Mumbai

Apparel Group has made a significant move by launching the renowned Canadian lingerie and sleepwear brand, la Vie en Rose, in India. The brand's first store has officially opened its doors at the DLF Mall of India in Noida, with an expansive space covering 1,000 sq. ft.

Array of range

The store offers a diverse range of products, catering to the categories of lingerie, sleepwear, and swimwear. François Roberge, President and CEO of la Vie en Rose, expressed the company's enthusiasm for entering the Indian market, acknowledging the country's compelling economic growth and immense potential for the brand's success.

Vision

Apparel Group (India), emphasized the brand's vision to fill the existing gap in the lingerie and sleepwear industry in the country. In the coming months, Apparel Group plans to expand the brand's presence by opening two more stores at Mall of Millenium (Pune) in September and Mall of Asia (Bengaluru) in October.

These stores are estimated to have an average size of 1,200 sq ft. Targeting women in the upper middle segment, aged between 20 to 40 years, la Vie en Rose will adopt an omnichannel strategy in India. In addition to physical stores, the brand will also be available for purchase through its own website and other popular marketplaces like Myntra and Nykaa Fashion.

Marquee brands portfolio

Apparel Group boasts an impressive portfolio of international brands, operating across the USA, Canada, and Asia. In India, they manage several well-known names, including Charles & Keith, Victoria's Secret, Victoria's Secret Pink, Bath & Body Works, Aldo, Aldo Accessories, R&B, Inglot, Call It Spring, Tim Hortons, and Beverly Hills Polo.

With its omnichannel approach and strategic brand selection, Apparel Group continues to provide a diverse and appealing shopping experience to customers.

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26 July 2023, Mumbai

Hrithik Roshan, the versatile Bollywood icon renowned for his acting and extraordinary dance abilities, stepped into a new role as director for Arrow's groundbreaking advertising campaign.

Celebratory Ad campaign

Titled 'Every Special Moment Deserves an Arrow,' the ad aims to inspire men to embrace and celebrate every occasion, big or small, with Arrow's premium menswear collection.

Arrow's stylish and versatile menswear line is the perfect choice to cherish and celebrate success. The Hrithik-conceived and -directed commercial features the superstar in Arrow's finest outfit, describing how the brand has always made him feel on top of the world.

Treat yourself

The campaign emphasizes the idea that every event in life deserves to be commemorated in style, whether it's a professional success, a personal milestone, or a festive celebration.

In addition to promoting Arrow's new line of adaptable wardrobe essentials, the advertisement captures the essence of celebration by showcasing the joy and excitement of important life events.

Strikes right chord

Hrithik's filmmaking talent shines through, resulting in a compelling and emotionally resonant narrative that struck a chord with men of all ages.

The campaign's success not only strengthened Arrow's brand image but also sparked a wider conversation about the importance of cherishing life's significant moments.

Special moment deserves an ‘Arrow’

By forging a deep emotional connection with its audience, Arrow's ad campaign became more than just a marketing endeavor, positioning the brand as a true companion in life's special celebrations.

Hrithik Roshan's directorial debut for Arrow's 'Every Special Moment Deserves an Arrow' campaign proved to be a powerful partnership that not only drove the brand's growth but also inspired people to treasure life's priceless milestones in style.

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