12 July 2023, Mumbai

Forever New, the Australia-based womenswear brand, has unveiled ambitious expansion plans for the Indian market.

Set to double store count

With a focus on becoming one of the most coveted womenswear brands in the country, the company aims to double its store count in Tier 1 and 2 cities over the next two years.

Additionally, Forever New plans to establish exclusive brand outlets in Tier 3 locations, tapping into the rising demand for branded apparel in rural areas.

To boost revenue

The brand's ultimate vision is to achieve four-fold growth within the next five years.

Headquartered in Melbourne, Forever New is strategically positioned as a bridge to luxury in the Indian market and is actively strengthening its online and offline capabilities through omni-channel expansion.

Latest Textile Events

10 July 2023, Mumbai

India's Retail Sector Thrives; India's retail market is on an upward trajectory, projected to reach a value of $1.1-1.3 trillion by 2025, owing to factors such as urbanization, income growth, and changing family structures.

Phygital is the way forward

Despite fierce competition from e-commerce, offline retail sales continue to thrive, thanks to the evolution of phygital strategies that blend physical and digital elements. Mobile apps have become a catalyst for this transformation, empowering consumers to browse, compare, and purchase products seamlessly.

COVID-19 a fundamental tailwind

Moreover, the pandemic accelerated the adoption of online shopping, leading to the emergence of the phygital hybrid model that combines the best of both worlds.

Physical stores now leverage omnichannel strategies, integrating technology to enhance customer experiences.

New Normal

This paradigm shift offers unique advantages to physical retailers, prompting online-only brands to establish a physical presence.

With a careful balance between digital convenience and physical immersion, the Indian retail sector embraces growth, excellence, and a bright future for both retailers and consumers.

Latest Textile Events

03 July  2023, Mumbai

Uniqlo, a Japanese success story, gained fame for its simplicity, in 1990s since its launch in 1949.

Impressive Sales Growth

It revolutionized the Japanese market by popularizing affordable fleeces, previously expensive and unfashionable, making them accessible to the masses.

Global Presence Seeking New Markets

Now, Uniqlo seeks to expand beyond China, where sales have been lacklustre due to Covid-19. In Asia, sales outside Japan and China surged by over 70% in six months, with operating profits up by 48%. Uniqlo aims to become India's best-selling retailer, capitalizing on the country's consumption market and reducing reliance on China.

Showcasing competitive garment manufacturing

Automation and artificial intelligence are transforming Uniqlo's manufacturing processes, while India's young workforce makes it an attractive destination for garment manufacturing.

The Indian government may support Uniqlo's expansion, creating jobs and boosting domestic consumption and investment.

Latest Textile Events

10 July 2023, Mumbai

Recently ICICI Securities analysed leading Indian retailers including Shoppers’ Stop, Pantaloons, Reliance Trends, V-Mart, Max, Lifestyle, and Westside for a report that doesn’t augur well for the retail sector.

Having experienced a 15 percent YOY decline in April 2023, brands are pushing on with their End of Season Sale (EOSS) two weeks in advance in the hope their stockpiles move out of the inventory to make way for the new season’s trends.
Lucrative deals to attract footfalls
However, much of the hope that was put on the month-long EOSS that started in mid-June seems to be fading out as customer response is lackluster. Whatever happened to the “shop until you drop” that played out during EOSS earlier? Have customers changed their attitude towards such sales or are they looking for more than just discounts?
Rains of discount

Rains discounts; Shoppers’ Stop is way ahead with as much as 62 per cent whereas competitors such as Reliance Trends, Lifestyle, and Pantaloons were on 41 per cent, 39 per cent and 25 per cent respectively.

It was surprising that Westside, Max, and V-Mart did not enter the early EOSS scenario, preferring to wait for the traditional timing instead.

Mall operators are not too pleased about this decision as they recommend all retailers to open their sales together so malls can attract more footfall during the period.

CEO of Bangalore-based Forum Malls, Muhammed Ali explains Indian retailers should follow the Dubai model which is meticulously planned well in advance and all brands and malls jump into EOSS together.
February 2023 showed signs of times to come
The first sign of customers buying retail fashion was in February as things started slowing down. Revenue performance in the March quarter had already been weak for most apparel retailers and by April-May, retailers were looking at a slide of 5 to 15 per cent YOY.

To salvage the situation, the EOSS usually slotted for the first half of July was pushed forward to start from mid-June. Satyen Momaya, CEO of French high-street brand Celio stated that last year there was a strong momentum leading to EOSS but this year momentum was being built from the second half of May due to the wedding season.

He felt that sales hasn't reached last-year level and during EOSS, it was hoped that it would at least match last year’s level as Celio was expecting a 40 per cent increase.

Not too optimistic situation; The high street isn’t the only one affected, as judging the Aditya Birla Fashion & Retail performance, the high-end sector of fashion isn’t playing out too well either. The consensus from 21 the Indian Luxury analysts is that Aditya Birla Fashion and Retail is on the verge of breakeven.

They expect the company to post a final loss in 2023, before turning a profit of Rs. 2.7b in 2024. The company is therefore projected to break even around a year from now or less.
Many reasons have popped up to explain the bad performance
Some say it’s the weather. Apparently, two major hubs, Delhi and Mumbai had rainy weekends keeping the crowds at bay.

The other reason being cited is the people’s reluctance to face traffic: The reluctance of customers to face the hassle of traffic has also played a role in the sluggish response. With congested roads and potential delays, customers have been more hesitant to visit physical stores, leading to decreased footfall. Online getting increasingly popular

Another favourite that has now been doing the rounds for well over two years is a shift to online shopping. The increasing popularity of online shopping platforms has diverted some customers from physical stores during EOSS, affecting foot traffic.

The state of the economy is a puzzling reason as the Indian economy is on steroids, as customers are concerned about whether the recession will affect India as well and that inflation, like the rest of the world, will go into a tailspin. should come to last-year level as we are expecting up to 40% increase." s business slowed from February onward, and brands had been expecting revenue to reach 2022 levels during EOSS, retailers said. Some started the sale early to improve revenue.

Losing stream

"Last year there was a strong momentum leading to EOSS but this year momentum was being built from the second half of May due to the wedding season," said Satyen Momaya, CEO of French apparel brand Celio.

"But sales haven't reached the last-year level. During EOSS, it should come to last-year level as we are expecting up to 40% increase."

"The growth has been slow in comparison to last year but the next two-three weeks are crucial," said Lifestyle CEO Devarajan Iyer. "The task is to liquidate the inventory. Currently, the majority of the brand is on sale, which might increase footfall and sales."

At the store level, Shoppers Stop is the most aggressive in offering discounts (up to 62%) against peers (25-40%). Discounts offered by Reliance Trends, Lifestyle, and Pantaloons were as much as 41%, 39%, and 25%, respectively.

Private label retailers such as Westside, Max, and VMART continue to follow a strict discounting-window policy and have not participated in the early EOSS.

According to mall operators, brands should go on sale together to push footfall and that will ultimately give a boost to their efforts.

Need to evolve with time

"Retailers in India need to plan the sale on the lines of Dubai--this will create momentum and will benefit everyone," said Muhammad Ali, CEO, of Forum Malls of the Bengaluru-based Prestige Group.

"When a customer looking for discounts comes to the mall, he would want every brand on sale. Similarly, there is a separate customer base for fresh stock and for them the sale should end on time."

Latest Textile Events

07 July  2023, Mumbai

H&M, the renowned Swedish fast-fashion retailer, has announced its ambitious expansion plans in India, aiming to tap into the country's flourishing market and unlock its untapped potential.

Targets unprecedented growth

Major Store Launches and City Expansions; By opening six new stores and venturing into three additional cities by the end of 2023, H&M is poised for unprecedented growth. Yanira Ramirez, the Sales Manager for H&M India, expressed excitement about the company's significant store launches and city expansions, highlighting the opportunities for rapid development.

Achieves an impressive 49% revenue increase

With a remarkable 49% increase in revenue in FY22, H&M India's strategic focus lies in achieving omni-channel growth, integrating physical stores and online sales.

 Furthermore, rumors are circulating about the potential introduction of COS, an upscale brand, into the Indian market.

Latest Textile Events

UAE-based retailer Lulu Group plans to enter Telangana with its first Lulu Mall and Lulu Hypermarket in Hyderabad.

Signifies Lulu Group's commitment to the state

The move follows discussions and an MOU signed with the Government of Telangana during a previous visit to the World Economic Forum. The Hyderabad project is part of a Rs. 500 Cr investment commitment to Telangana.

Diverse entertainment options

The rebranded Lulu Mall, formerly Manjeera Mall, will feature a mega Lulu Hypermarket, over 75 local and international brands, a cinema, food court, and children's entertainment center. The mall, located in Kukatpally, is expected to employ over 2,000 personnel.

Additional investments planned

Lulu Group also plans to invest in a meat processing plant, shopping malls, and an agriculture hub in Telangana. With over 250 hypermarkets and supermarkets across 22 nations, Lulu Group is rapidly expanding in India and has a strong presence in the Middle East and North Africa region.

10 July 2023, Mumbai

With one of the youngest populations in the world who are net savvy, there is an unprecedented growth in e-commerce propelled by the widespread use of smartphones and high-speed internet in India.

Major e-commerce players like Amazon and Flipkart, niche market players like Meesho, Nykaa, Snapdeal, and conglomerates like Tata and Reliance among others have taken over the online shopping bandwagon.

What works for them is competitive product prices with discounts, the convenience of return and exchange, and the sheer variety of products where physical stores sometimes cannot compete.

Small-town consumers ruling online shopping

A May 2023 study ‘CMR Consumer Aspirations and e-commerce in Bharat’ by India’s leading marketing research and consulting agency Cybermedia Research (CMR) has put the spotlight on the tremendous growth of online shopping in the country.

The study covering around 3,000 consumers spread across Delhi, Mumbai, Bangalore, Bhubaneswar, Nagpur, Coimbatore, Lucknow, and Guwahati, revealed there is significant growth in online spending in Tier II and III cities who so far had lagged behind Tier I cities.

Educated consumers from Tier II cities and beyond dedicate an average of two hours and 25 minutes per week to online shopping which translates to around 16 per cent of their income.

Small-town consumers now have far greater disposable income due to their lower costs of living and higher wages coupled with an increased desire for a global aspirational lifestyle.

Bengaluru and Mumbai lead the way

After luring Indian shoppers into a virtual world of domestic and international brands in the pandemic days, these websites have kept up their USP of couch shopping. Bengaluru as India’s most tech-savvy city leads with a maximum of four hours and two minutes weekly on online shopping. 

Tier II cities like Guwahati, Coimbatore, and Lucknow are also leading in terms of time spent shopping on e-commerce. Both Tier I and II buyers are almost equal with an average spend of Rs 20,100 and Rs 21,700, respectively.

Mumbai consumers have the top spot in terms of average spending on online shopping with an average of Rs 24,200 annually; Nagpur and Coimbatore follow closely with an average spend of Rs 21,600.

Interesting observations

The CMR study has shown that two out of every three consumers have spent up to Rs 20,000 on online shopping in the past six months. Women entrepreneurs are the trendsetters spending 149 hours annually on e-commerce and 29 per cent have purchased value-for-money smartphones worth Rs 15,000 to 20,000) online.

Generation Z at 51 per cent shop far more frequently online as compared to millennials comprising  47 per cent, who are still not so tech-savvy. The study also shows 86 per cent of consumers rely on social influencers and other published materials while making purchase decisions, which sometimes overrides their own.

Trends

Also, 90 percent of males depend on influencers’ reviews compared to 80 per cent of females, who usually know what they want

With post-pandemic educated inter-savvy consumers spread across pan-India, retailers now need to spread out their marketing strategy making further inroads into the untapped smaller markets with greater potential to keep their online profits soaring.

Latest Textile Events

05 July 2023, Mumbai

Luxury brand communications are targeted at the affluent young ones in India, with their aspirations to have everything luxe, right here, right now. As per Bain & Company, Gen Y and Gen Z together will make up 70 percent of the global luxury market by 2025 and India is no exception.

Luxury market arriving

Luxury brands have been arriving in India by the droves with growth opportunities as the world’s fifth largest economy is too irresistible to stay away from. As per senior partner and global head of fashion & luxury at Bain & Company, Claudia D’Arpizio, at the close of fiscal year 2022, the total amount Indian consumers spent on luxury was $8 billion.

And the 21st edition of Bain & Company’s luxury study predicts the luxury sector in India will grow rapidly by three and a half times until the projected period of 2030 and add between 35 and 40 million new consumers in the mid and high-income groups. These consumers, fed on aspirations on social media, will be hungry for luxury as their choice of lifestyle.

Catch them young and watch them grow

Luxury brands have completely re-defined their target audience as they realize their profits lie in catering to the waves of young (Gen Z) or relatively young (Gen Y) consumers.

Social media is the luxury brand’s new best friend as gone are the target audience that was patrons of high-end glamour and lifestyle print media. Social media has grown and established an ecosystem that suits luxury brands well indeed – the social influencer with millions of doting followers are the new dictators of what’s hot, and what’s not.

We live in a social media era; The advantage influencers have is their ability to impress both Gen Y and Gen Z in one stroke as more often than not, Gen Y yearns for the “younger” look and feel.

In India, some key social influencers are making a difference. Influencers have more influence within luxury and fashion compared to film stars. Founder of Indian luxury leather accessories brand Hidesign, Dilip Kapur couldn’t agree more as he says Hidesign’s success at the community level has been spearheaded by Indian luxury influencers.

Gen Zers are more sustainability-driven

What sets the Indian Gen Z high-end consumer is they watch their shopping habits more than their counterparts in developed markets. The Gen Z and millennial consumers in India are more likely to buy sustainable products than in developed countries, says a 2022 Credit Suisse Research Institute report.

However, when it comes to key trends, like their Western counterparts, Gen Z Indians favour the luxury meets streetwear style as this generation sees no reason why everyday living can’t be luxurious.

Trends; Achim Berg, a senior partner at McKinsey and global leader of its apparel, fashion, and luxury group explains that combining luxury statement pieces with fast fashion is a big trend compared to 10-15 years ago.

Fashion designer Manish Malhotra, who recently launched ‘Diffuse’ targeted at Gen Z, says his new line hits the point between couture and street-wear that the younger generations) love.

Luxury brands rely on social collaborations

Luxury brands have invested deeply to master social media and fine-tune their targeted messaging, using the assistance of social media influencers and celebrities who the brands find relatable to their label.

More often than not, these influencers are not exclusive brand ambassadors and luxury brands find it smarter to collaborate with other luxury brands or even popular high-street and fast-fashion brands to become part of what’s on trend.

Latest Textile Events

26 June 2023, Mumbai

Reliance Retail's Trends, India's premier apparel and accessories specialty chain, has unveiled its latest store in Banki town, Cuttack district, Odisha.

Democratizing Fashion

With a mission to make fashion accessible to all, the expansion aims to connect with consumers across metropolitan cities, mini-metros, Tier 1, 2 towns, and beyond.

Modern and Affordable

The new Trends store in Banki town boasts a modern and inviting ambiance, offering a wide selection of top-notch fashion merchandise that resonates with the local shoppers.

Trendy selection

Emphasizing affordability, the store ensures customers receive excellent value for their money. Residents of Banki town can now indulge in a unique retail experience, exploring trendy Women's Wear, Men's Wear, Kids Wear, and Fashion Accessories, all available at pocket-friendly prices.

Latest Textile Events

08 July 2023, Mumbai

Orion Mall recently welcomed Forever New India to its premises, marking the brand's latest expansion in Bengaluru.

Women's ‘Western Wear Brand’

The exclusive brand outlet, situated at Brigade Gateway, has opened its doors with an exciting offer on Forever New's newest collection. Patrons can now enjoy a 15% discount on the latest fashion trends by visiting the spacious store.

Offers promotional discount

Forever New's summer 2023 collection showcases a blend of elegance and comfort, featuring pastel-hued body-con dresses, oversized blazers, and versatile day-to-night dresses. With its modern and minimalistic aesthetic, the brand aims to cater to diverse age groups.

Orion Mall continues to enhance its shopping experience by introducing a range of new brands. Vice President of Retail at Orion Malls, Sunil Munshi, expressed pride in being the preferred destination for national and international brands launching operations in South India.

Background

Established in Melbourne, Australia in 2006, Forever New has expanded to over 250 stores across seven countries. In addition to its online presence, the brand retails through exclusive outlets in various Indian cities, including Kolkata, Delhi, Gurgaon, Mumbai, Siliguri, and Jaipur.

Latest Textile Events

The big fat Indian weddings have not been as glitzy and extravagant this wedding season of May-June 2023. Most wedding garment manufacturers reported average to poor sales this season, mainly due to a general economic slowdown, high prices, and weakening of the post-pandemic pent-up demand. With India having almost 25 per cent of the world’s weddings, which translates to one out of four weddings happening on earth globally, this segment has always been a very lucrative one with most Indians ready to spend beyond their means.

The wedding market was at an all-time high in 2022 after Covid years of stalled wedding plans, but now as the economic situation hits ground reality with the general rising inflation along with the high costs of food and clothes wedding supply chain, has come down.

CMAI report highlights slow growth

A recent survey of around  110 wedding garment manufacturers by the Clothing Manufacturing Association of India (CMAI) shows almost 83 per cent respondents feel there has been slow growth in May- June wedding season compared to last year. More than 60 per cent of wedding market outfitters and other suppliers have attributed this slowdown to general economic inflation while 14 per cent feel it’s the high cost of practically everything. Another 13 per cent say it’s the lesser number of auspicious dates as compared to 2022 that has led to a drop in sales.

“Currently the market is seeing a fairly significant slowdown, which has been caused by the overall inflationary conditions in the market. The first quarter of the current financial year is likely to be disappointing for the industry, and the impact is being felt by both the value as well as the upper segments of consumers,” says Rajesh Masand, President of CMAI.

Cost cutting limits guest list and wedding paraphernalia

With persistent heat wave across India, lighter embroideries, and pastel colors were in demand compared to heavier designs and mid-range wedding apparel for the guests and the bride’s trousseau sold better than expensive varieties. Media exposure to Western culture is influencing dressing patterns, of the younger generation leading to a gradual shift from traditional clothing to Indo-fusion clothing, which has affected sales of pure ethnic wear.

The grand Indian wedding with its huge guest list and wedding trousseaus has always been the growth driver of fashion and luxury business. India's luxury market is one of the fastest growing in the world, with a projected value of $8.5 billion in 2023 which has increased by around $2.5 billion from 2021, says Euromonitor International.

Although with the post-pandemic high, the apparel industry for 2022-23 was estimated to grow by 15-20 per cent, it seems with overall cost of production having gone up substantially, this volume growth would still be below previous year by 3-5 per cent.  Although the average size of weddings has come down, the budgets have not been drastically reduced as people are now spending the same amount but in smaller and experiential ways, such as a smaller guest list but at a resort or destination wedding; having many functions spread over the week with limited guests than a huge one-day extravaganza. However, since no one wants to make a big sacrifice on their wedding day, wedding outfitters are accepting the cut in good faith while remaining hopeful of the good days continuing to roll.

26 June 2023, Mumbai

UAE's Max Fashion brand has unveiled its latest store in Udaipur, Rajasthan. Spanning 18,000 sq. ft., the outlet is situated at Urban Square Mall, owned by Bhumika Group.

Announces the store's launch on LinkedIn

The company shared the news on LinkedIn, describing the store as an incredible addition to Max Fashion India's offerings, including unisex fashion, kids' fashion, and trendy accessories. Max, owned by Landmark Group, is a value fashion retail chain known for its diverse collection of clothing, accessories, and footwear.

Landmark Group's Max Fashion India offers an array of collection

After its establishment in the UAE in 2004, Max made its debut in India with a store in Indore, followed by a recent opening in Ahmedabad. Urban Square Mall, covering 1.8 million sq. ft., features prominent brands like Adidas, Puma, and Shoppers Stop.

Latest Textile Events