29th October 2021, Mumbai:

As Delhi High Court (HC) rejects 'Ad-interim Plea' of (FRL) Future Retail, it only adds to group woes as it is struggling to put the deal on track since October 2020 seeking a stay of Emergency Arbitrator Order in Amazon-Future case.

It is contextual to state here that," Amazon India is contesting tooth & nail seeking to block the sale of Future Group's retail, wholesale, and logistics business to Reliance Industries Ltd for a deal consideration of Rs 24,713 crore for what group allegedly maintains is a breach of contracts making a strong argument that the 2019 envisaged deal it stitched with Future unit conspicuously contained clauses prohibiting the Future group from selling its retail assets outside to anyone on a "restricted persons" list that included Reliance.

Future and Amazon have been engaged in a bitter corporate legal battle with Amazon subsequently approaching the Singapore International Arbitration Centre (SIAC) contesting a big-ticket/ high stake deal between Future Retail and Reliance Retail in 2019.

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4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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Some Indian businesses are expanding rapidly on multiple fronts. Sonalee Paithani, a high-end Indian womenswear brand, is one of them. With the opening of its first megastore in Nashik, it has now entered the offline retail market. Sonalee Kulkarni, a renowned Marathi actress, has joined the brand as a brand ambassador.

In addition to the shop, the firm will shortly create an e-commerce site to make things easier for customers.

Handmade zari work is also available in the company's collection, which is created by their own team of skilled craftsmen. Given the current post-pandemic market trend and the impending Christmas season, the firm expects to sell roughly 1 lakh items in the next two quarters of this year.

They want to expand into the worldwide market in the long run and develop bespoke items for international customers. Sonalee Paithani also produces bespoke Paithani sarees, as well as evening dresses, bridal gowns, and other formal wear.

The megastore, built by Interarch Associates' Dhananjay Mahale, will include over 25 different varieties of Pathani sarees as well as over 75 different types of other saree collections.

"We have close to three decades of manufacturing experience for Paithani sarees, and it is the ideal moment to bring the brand closer to the consumer," said Bhausaheb Kokhale, the company's Director, during the inauguration of the megastore.

Traditional clothing has always held a particular place in our hearts and holds sentimental significance. Adding extra flavour to every celebration, whether it's our holiday season or a particular event, is decorating our tradition and culture. We are ecstatic to offer our goods' enchantment and beauty to Nashik."

The brand will launch a campaign called 'Pratek Strichya Mani, Fakt Sonalee Paithani,' which implies that Paithani Sarees should be every woman's first choice. The company's production takes place at Yeola, Nashik, the Paithani capital of India.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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23rd October 2021, Mumbai:

After leading the online fashion retailer Myntra for three years, Amar Nagaram has quit as its chief executive officer to pursue his own venture.

Nagaram joined Myntra in 2019 replacing Ananth Narayanan who stepped down from the post of chief executive officer of Myntra and Jabong. During that time, he was a vice-president at Flipkart. In his seven-year-long stint at Flipkart that time, Nagaram had largely worked on Flipkart’s consumer-facing mobile and web platforms. Under his leadership, the company (Myntra and Jabong combined) continued to execute the growth strategy and leverage synergies with Flipkart as appropriate. The leadership at Myntra and Jabong allowed the business to continue on its strong and sustainable growth trajectory.

Prior to Flipkart, Nagaram worked as an engineer at Walmart Labs with CTO and SVP to drive and evangelize the development of an interactive, effective next-generation platform for e-commerce. He also helped set up the Walmart Labs India center.

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1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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20th October 2021, Mumbai:

Uniqlo India’s sales jumped by 86 per cent to Rs 239 crore for the fiscal year ending March 2021, up from Rs 128 crore for 2019-20 even as the Japanese fashion retailer reported a 43 per cet decrease in its net loss to Rs 36 crore from a year earlier.

The Registrar of Companies (RoC) figures accessed by business intelligence platform Tofler showed Japan’s largest fashion retailer’s total expenses in India stood at Rs 275 crore for the year compared to Rs 192 crore a year earlier.

Uniqlo entered India in October 2019 or months before a devastating Covid-19 struck India that left physical retailers reeling under heavy losses and piling inventories as India observed months of lockdown in March 2020 onwards to curb the spread of the virus. So far Uniqlo has opened half a dozen outlets in the National Capital Region (NCR). In July, Uniqlo also rolled out its e-commerce webstore in India.

Uniqlo is now planning to open stores in Mumbai next year and is in talks for spaces with a couple of prominent malls in that city, according to various mall executives.

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22nd October 2021, Mumbai:

This festive season, international fashion retailer H&Mhas unveiled an India exclusive collection for the festive season.

The 2021 festive collection has been launched with H&M’s second iteration of its campaign, Brighter Than Ever.’Embodying a message of hope for everyone looking forward to celebrating again this year, the campaign captures the essence of the feeling of hope that seemed so distant after the tumultuous year that when we come together in unique ways to make the most of festivities, now lies within us, and shines Brighter than Ever.

The film brings together a diverse and inclusive cast of personalities who represent the ethos of the brand. Leading the same we have national award-winning actor Rajkumar Rao along with SanjanaSanghi, AdarshGorav, and Ishwar Singh. In addition to them, the film features a host of interesting people from different walks of life.

Notably, the cast featured pieces from the conscious range, garments made from more sustainable materials - a move towards the brands' continuous efforts towards circular fashion with a broader vision for a brighter future ahead.

H&M continues to consistently increase the use of more sustainable materials in their product range with the festive collection featuring more sustainable materials such as Recycled Polyester, Tencel, Organic Cotton, Recycled Silk, etc.

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1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

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4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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19th October 2021, Mumbai:

Clothing brand Fabindia removed the Diwali campaign Jashn-e-Riwaz from its account on Twitter after facing a massive backlash on social media platforms. While FabIndia seems to have removed hashtagJashneriwaaz from the Instagram posts, their creative partners are still using it with a slightly different spelling.

In the ‘Jashn-e-Riwaaz’ campaign, the word Diwali was entirely skipped by the brand. The basic idea, it seems, behind the campaign was to make the festival of Hindus a secular one by removing its original name completely.

Continuous attacks over fireworks and other traditions associated with Diwali have been happening from all directions, including intellectuals, so-called environmentalists, government and judiciary. From calling the festival ‘reason of air pollution’ to denying its due credit for reviving the economy, Diwali has been one of the most favourite targets to demean Sanatan Dharma.

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21st October 2021, Mumbai:

Retail chain Shoppers Stop narrowed its consolidated net loss to Rs 3.68 crore for the September quarter, helped by a comeback in sales. The company had posted a net loss of Rs 97.70 crore in the July-September period a year ago.

Revenue from operations rose over two-fold to Rs 642.07 crore from Rs 296.98 crore in the corresponding quarter of the previous fiscal. Total expenses increased toRs 714.25 crore from Rs 492.36 crore earlier.

Venu Nair, Managing Director & CEO, Shoppers Stop said, while July was muted with multiple lockdowns and Maharashtra completely closed, August and September witnessed a sharp recovery. Sales more than doubled and EBITDA quadrupled against last year," he noted.

Moreover, the festive sales have been extremely reassuring, he said, adding sales recovered more than 100 percent in East, followed by North.

During the July-September quarter, sales from omnichannel grew by 103 percent. The omnichannel contribution sustained at 8 percent, despite stores opening in Q2. This reflects the strong trust amongst digitally savvy young customers with Shoppers Stop.

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2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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18th October 2021, Mumbai:

Henceforth, Fast Retailing Group will sell the products of premium denim brand J Brand Inc as the brand liquidated its operations in August.

A direct-to-consumer brand, J Brand now sells its merchandise at channels operated by Fast Retailing, including stores and the website operated by sister brand Theory. Fast Retailing could potentially revive standalone J Brand stores down the road.

In fiscal 2022, Fast Retailing plans to focus on transforming its earnings structure through high-quality sales, turbocharging s e-commerce, diversifying global revenue, and pursuing a medium to long-term growth strategy.

The company said revenue for the year ended August 31 rose 6.2 percent to 2.132 trillion yen ($18.77 billion) from 2.008 trillion yen ($17.7 billion).

By business group, Uniqlo Japan revenue rose by 4.4 percent to 842.6 billion yen ($7.42 billion) from 806.8 billion yen ($7.10 billion). First-half profit rose on the back of strong sales, but second-half profits declined. While the third-quarter profit rose, the fourth quarter saw declines due to “stronger inventory rundowns” and lower-than-expected sales due to Covid-19 restrictions on movement.

The company forecasts a 3.1 percent gain in consolidated revenue for the fiscal year 2022 to 2.200 trillion yen ($19.36 billion), and a 3 percent gain in profits of 175.0 billion yen ($1.54 billion).

Fast Retailing expects revenue and profit to decline in the first half from September 1, 2021, to February 28, 2022, due to COVID-19 restrictions and temporary store closures causing transportation delays. The company expects these concerns to ease in the second half from March 1, 2022, to Aug. 31, 2022, which in turn should see a rise in revenue and an expansion of profits.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage