08 June 2023, Mumbai

HRX, the clothing and accessories brand founded by Bollywood celebrity Hrithik Roshan, is furthering its partnership with nutrition-based food retailer EatFit to establish physical stores across India under the name 'HRX by EatFit'.

The launch of our offline stores marks an exciting expansion of partnership with EatFit. HRX aims to offer comprehensive solutions for a healthier lifestyle, and nutrition plays a vital role in our vision.

The shared values between EatFit and HRX are deeply intertwined. HRX intends to extend its brand philosophy through HRX by EatFit food outlets, encouraging Indians to embrace nutritious eating habits.

Since joining forces with HRX, EatFit has experienced significant financial growth, with quarterly revenue doubling. The partnership plans to open ten offline stores in the near future, with a target of reaching a total of 150 brick-and-mortar stores by 2025.

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05 June  2023, Mumbai

Ethnic wear retailer Neeru's has recently opened a new store in Hyderabad, according to a company official's social media announcement. Spanning an impressive 6,000 sq. ft., the outlet is situated at Chintalkunta, L. B. Nagar, Vanasthalipuram, Telangana.

Avnish Kumar, the managing director at Neeru's, shared the news on LinkedIn along with pictures of the store. He described it as a paradise for ethnic, daily, occasion, and wedding wear, offering a wide range of sarees, ready-to-wear suits, lehengas, kurtas, kids' wear, and more.

With 46 exclusive brand outlets (EBOs) and 74 multi-brand outlets (MBOs) across India, Neeru's has a strong presence in over 20 cities, including Hyderabad, Mumbai, Delhi, Bengaluru, Chennai, Vijayawada, Raipur, and Lucknow.

The company boasts nearly 2.5 lakh sq ft of retail space and has recently ventured into the international market with its first outlet in Dubai's Meena Bazaar Market.

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 27 May 2023, Mumbai

Rupa & Co Ltd, a prominent knitwear brand in India, reported a significant decline in net profit for the fourth quarter, reaching Rs 18 crore ($2.2 million). This represents a 61% drop compared to the previous year's figure of Rs 49 crore.

The company's total income during the quarter also decreased by 10%, amounting to Rs 411 crore, in contrast to Rs 460 crore in the corresponding period of the previous fiscal year.

Challenging Market Conditions Impact Performance

Rupa & Co attributed the challenging year to volatile raw material prices, which initially surged and then sharply declined.

This market phenomenon resulted in destocking at the distributor level throughout the year. Despite these challenges, the company remains dedicated to enhancing operational efficiency, expanding its market reach, and seizing emerging opportunities for sustainable growth and long-term value creation.

Continued Focus on Market Leadership

Rupa & Company Limited specializes in producing innerwear, casual wear, thermal wear, and sleepwear for men, women, and children.

With a net profit of Rs 53 crore and a total income of Rs 1,159 crore for the full financial year, the company aims to maintain its market leadership position by prioritizing operational improvements and capitalizing on market prospects.

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08 June 2023, Mumbai

The renowned sportswear brand has launched a dedicated brand outlet in Delhi's Jasola district at the esteemed Pacific Premium Outlets mall. 

New Store Welcomes Shoppers with Elevated Sportswear

The spacious store presents a wide array of Reebok's clothing, footwear, and accessories, all available at discounted prices. The Pacific Premium Outlets, specializing in discounted branded retail, announced the grand opening of Reebok's exclusive store. The post highlighted the thrill of elevated sportswear and the allure of year-round offers that will entice shoppers to return for more. 

Expands Presence in South India Reebok

Situated on the second floor of the mall, the outlet offers an extensive collection of branded casual and athleisure wear. Reebok has also recently expanded its brick-and-mortar presence in South India, with new stores opening in Kochi's Lulu Mall and Chennai's Phoenix Marketcity Mall in late May. 

Following Authentic Brands Group's acquisition of Reebok from Adidas in 2021, the brand has partnered with Aditya Birla Fashion and Retail Limited to retail its products through various channels, including wholesale, e-commerce, and Reebok-branded retail stores in India and Southeast Asia.

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 26 May 2023, Mumbai  

Japanese premium lingerie brand Wacoal has named Hirokuni Nagamori as the CEO of Wacoal India, with a focus on expanding the brand and accelerating channels such as e-commerce and multi-brand outlets (MBO).

Nagamori has been with Wacoal since 2006, initially joining Wacoal Japan and gaining valuable experience in various roles in Thailand and Indonesia, including production control and merchandising. With his expertise in merchandising and supply chain management in Japan, Nagamori plans to strengthen Wacoal India's product range and introduce best-selling products tailored to the needs of Indian women, utilizing the brand's technology and innovation.

In the short term, Nagamori aims to establish Wacoal India as a prominent brand by expanding channels and diversifying the product portfolio. The focus will be on helping women across the country express their beauty.

Wacoal India is poised for growth and aims to expand its brand awareness in the Indian market under Nagamori's leadership, offering women a range of innovative and comfortable lingerie options.

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07 June  2023, Mumbai

Indian Terrain, a prominent men's high-street fashion brand, has announced the relaunch of its flagship store in the enchanting city of Srinagar.
Srinagar Welcomes Indian Terrain
Situated in the heart of the city, the newly revamped store aims to offer customers an exceptional and immersive shopping experience, presenting a diverse range of stylish clothing options for fashion enthusiasts in the region. Nestled amidst a picturesque neighborhood, the Srinagar store showcases an assortment of jeans, jackets, and shirts, alongside a dedicated section for the brand's signature Boys Wear collection, featuring shirts, t-shirts, and sweaters.
Elevated Shopping Experience
Indian Terrain recognizes the significance of the Srinagar market, where the brand has a loyal customer base that cherishes its association on special occasions.
With this in mind, the store's architecture has been redesigned to exude luxury and finesse, aiming to provide valued customers with a refined shopping experience.

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 24 May 2023, Mumbai  

Gross Sales and Profit Targets: High Street Essentials, the parent company of brands like Faballey and Indya, achieved gross sales of Rs 240 crore in the previous financial year and aims to reach Rs 330 crore for FY24. The company has achieved breakeven at the EBITDA level this quarter and is targeting a 3-4% profit at the PAT level for FY24.

Growth Projection and IPO Plans: The company witnessed a 60% growth in business for FY23 and aims to achieve another 60% growth for FY24. Additionally, High Street Essentials plans to go public through an IPO in the next 3-4 years and has started preparing internally in terms of revenue metrics, EBITDA, profitability, and working capital.

Brand Revenue Distribution: Currently, Indya contributes 65% of the company's revenue, while Faballey contributes the remaining 35%. For Indya, 55% of revenue comes from online channels and 45% from offline, whereas for Faballey, 60% of revenue comes from offline channels and 40% from online.

Expansion Plans: High Street Essentials plans to open 10 large-format stores of Indya Luxe, spanning 2,000 sq ft each, in metro cities like Bengaluru, Delhi, and Hyderabad. The company also aims to increase the number of exclusive brand outlets (EBOs) for Indya from 26 to 36 in the current financial year. For Faballey, the focus is on expanding the brand via direct-to-consumer (D2C) channels and marketplaces.

Designer Collaborations and International Expansion: Indya plans to collaborate with renowned designers such as Varun Bahl, Ashish Soni, and Samant Chauhan to introduce their pret line, offering products priced between Rs 4,000 and Rs 8,000. High Street Essentials aims to have 12-15 EBOs in international markets and targets 35% of its revenue from international business in FY24. The company already has a presence in the US, UK, Canada, Nepal, Malaysia, and plans to open stores in the UAE and London.

Franchise Route for International EBOs: High Street Essentials plans to establish EBOs in international markets through the franchise route, with an average store size of around 1,000 sq ft. The company aims to expand its international footprint and strengthen its D2C presence in key markets.

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07 June  2023, Mumbai

Jockey Extends Reach in Mumbai; Jockey, the renowned apparel brand, has recently opened four outlets in Mumbai, Maharashtra, signaling its expansion in the region.

Enhanced Shopping Experience

The new stores, located at Garda Circle – Dombivli, Hiranandani Meadows – Thane, Metro Junction Mall- Kalyan, and Orion Mall- Panvel, aim to provide an enhanced shopping experience for customers seeking innerwear, sleepwear, activewear, athleisure, loungewear, socks, and thermals for men, women, and children
The brand's commitment is to deliver quality products under one roof at House of Jockey (HOJ). With over 1240 stores across India, Jockey is on the roll
Jockey continues to expand its exclusive presence in both major cities and smaller towns since its entry into the country in 1994.

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29 May 2023, Mumbai

Indian cricket icon Virat Kohli has announced the launch of WROGN ZERO, a clothing line created in collaboration with Flipkart. With a focus on comfort and affordability, WROGN ZERO aims to redefine athleisure fashion and empower Indian youth to embrace their unique style.

What all you need to know

The collection, featuring over 100 fashion-forward apparel and footwear styles, will be available on Flipkart from May 27, coinciding with Flipkart's 'End of Season shopping festival.'

As per a NASSCOM report, Gen Z and Millennials, comprising over 52% of India's population, are reshaping the fashion industry with their preference for comfort and casual wear. Flipkart has witnessed significant growth in the casual wear segment, and the launch of WROGN ZERO is expected to accelerate this trend further.

Virat Kohli expressed his enthusiasm for the collaboration, highlighting the ultra-lightweight and stylish nature of WROGN ZERO. Flipkart's extensive reach across India will make the collection accessible to customers even in remote regions.

Flipkart's Senior Director of Fashion, Abhishek Maloo, emphasized the platform's commitment to democratizing fashion and providing trendy yet affordable clothing options. The launch of WROGN ZERO, led by Virat Kohli's style influence, aligns with Flipkart's mission to offer the best fashion choices to customers across the country.

Vikramaditya Reddy, COO & Co-Founder of WROGN, noted that the capsule collection encourages customers to become trendsetters by upgrading their wardrobes with lightweight and functional fashion. Launching on Flipkart will allow WROGN ZERO to reach its target audience while inspiring today's youth to make stylish and comfortable choices at affordable prices.

Fashion has become a significant category on Flipkart, attracting approximately 40% of new customers. The 25-35 age group, particularly interested in t-shirts, shirts, jeans, and shoes, contributes the highest demand in the fashion segment.

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23 May 2023, Mumbai  

Indian Terrain Fashions Ltd reports Q4 net loss of Rs 6.10 Crore; Full-Year Net Profit Stands at Rs 7.09 Crore

Indian Terrain Fashions Ltd, a prominent manufacturer and retailer of men's apparel brands, disclosed a net loss of Rs 6.10 crore for the fourth quarter ending on March 31, 2023.

Net loss in Q4, notable recovery in full-year profit

This represents a significant decline compared to the net profit of Rs 6.46 crore recorded during the same quarter in the previous year, primarily due to an exceptional item amounting to Rs 5.90 crore.

During the fourth quarter, the company's total income increased to Rs 127.45 crore, up from Rs 109.81 crore in the corresponding period of the previous year.

However, the company rebounded strongly for the full fiscal year, reporting a net profit of Rs 7.09 crore, showcasing a remarkable recovery from the net loss of Rs 2.20 crore in the preceding year.

Similarly, the total income surged to Rs 506.31 crore for the full fiscal year, demonstrating robust growth compared to Rs 343.64 crore in the previous year.

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