08 December 2021, Mumbai:

Myntra has fully rolled out a Gen-Z focussed section on its app that will cater to specific fashion and style needs to this customer cohort that the online fashion retailer said are increasingly driving future fashion trends.

Gen-Z or those aged 16 to 25 years have a “high digital footprint" that makes them “important perception drivers", the retailer said.

The section called Style Cast—available both on the retailer’s app as well as desktop— includes 13,500 styles curated from over 60 fashion brands including H&M, Urbanic, Trendyol, Misguided, DeFacto, Mango, JC Collection, Forever Now, and Forever 21.

Features of Style Cast were first piloted in September when Myntra on-boarded brands such as Urbanic, and more recently, Defacto.

“Gen-Zs are among the key opinion leaders with an extremely high digital footprint, making them important perception drivers while offering immense opportunities for Myntra to penetrate further into the segment at multiple levels, including selection and engagement initiatives," the retailer said.

Style Cast is essentially a curated section that enables discovery, relatable language and content, and styles that are in sync with the Gen-Z fashion's sensibilities. The retailer is promoting it ahead of its bi-annual End of Reason Sale later this month.

Furthermore, to engage this social media-savvy age group and share style suggestions Myntra is engaging with them through Myntra Studio and social handles, leveraging its influencer network to bring Style Cast’s trend-based styles through periodic drops.

“Style Cast is Myntra’s one-of-a-kind, latest, and one of the biggest initiatives to bring global trends to the Indian market for the young fashion-forward shoppers who are known to have edgy and high on-trend fashion choices," said Sharon Pais, chief Business officer, Myntra.

MINT (The news article has not been edited by DFU Publications staff)

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DAILY NEWS:

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

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

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

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

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

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Meesho has recorded nine million women entrepreneurs on the platform. Women entrepreneurs on the platform also saw a 2.5X year-on-year growth in orders in 2021. The company supports women entrepreneurs in their quest for financial independence through the company’s reselling business model.

Nearly 600 million people in India are still not connected to the internet, with a majority of them from non-metros. Meesho entrepreneurs are focusing on this market by influencing demand, and providing value-conscious customers access to affordable products.

More than 60% of Meesho's entrepreneurs are from Tier 3 markets like Dimapur, Faizabad, and Haldwani, Meesho. Apparels, personal care, kitchen, and home decor are the highest-selling product categories on the platform.

ET (The news article has not been edited by DFU Publications staff)

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DAILY NEWS:

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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22 November 2021, Mumbai:

Social commerce startup Meesho is finalising a financing round of nearly $1 billion that may take its valuation to around $8 billion, three people in know of the matter told TOI.

The latest talk of a fund-raise comes after the Bengaluru-headquartered company's valuation doubled to $4.9 billion in September, when investors led by US asset manager Fidelity and B Capital pumped in $570 million. Social commerce uses online platforms such as Facebook, WhatsApp and Instagram to promote and sell products & services.

In April, Meesho was valued at $2.1 billion, when it raised $300 million from SoftBank's Vision Fund. The new round may get finalised in January.

TOI

(The news article has not been edited by DFU PUBLICATIONS STAFF)

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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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01 December 2021,  Mumbai:

DeFacto is now being retailed on Myntra. The brand has 503 stores across 47 countries and offers a range of styles across categories for men, women, girls, and boys. DeFacto is known for offering a complete fashion wardrobe across categories and is trusted for its innovative, dynamic, comfortable, sustainable, and accessible fashion.

DeFacto, in partnership with Myntra, is offering more than 900 style options on the platform and plans to scale it up significantly over the next few months.

To begin with, DeFacto’s catalog in India is centered majorly on women, at over 60 percent of the total inventory, followed by men, and then children, with a strong focus on winter wear. There are work leisure and let’s party inspired styles in the offing. DeFacto will be offering new styles on a weekly basis.

The brand’s target consumer profile includes young people making their first independent fashion buying decisions, to more mature audiences inclined towards travel, beauty, cosmetics, music, and gaming. In India, DeFacto will target the mass premium consumer segment.

DeFacto will also have a dedicated brand store on Myntra-Mall, Myntra’s in-app mall for showcasing leading brands and assisting consumers in brand and product discovery.

Myntra is the go-to lifestyle and fashion platform for international brands engaging with consumers in India.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter. 

DAILY NEWS:

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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20 November 2021, Mumbai:

Unlike traditional ESOP plans, the MeeSOP programme is completely inclusive, providing every employee, irrespective of their seniority. from Meesho's rapid growth while ensuring 100 percent of the gr vested by the end of one year, the statement said.

Digital commerce platform Meesho on Friday said it has introduced an annual 'MeeSOP' programme, wherein every full-time employee will be able to convert up to 25 percent of their annual CTC into ESOPs (Employee Stock Ownership Plan).

Under the programme, every full-time employee - irrespective of their tenure in the company or their seniority will be able to convert a maximum of 25 r cent of their annual CTC into ESOPS - subject to a minimum of Rs 50,000, a statement said.

Our repeated and periodic buybacks ensure our employees continue to grow with us. The MeeSOP program takes this commitment further, breaking hierarchies to make every employee an owner, and providing more avenues for wealth creation," Meesho founder and CEO Vidit Aatrey said.

As the company hires more talent, it will continue to provide its team with the means to realise their personal and financial goals, he said. ET

(The news article has not been edited by DFU Publications staff)

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.  

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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06 December 2021,  Mumbai:

At Phoenix Market City in Pune, multi-brand beauty retailer Nykaa has opened the doors to its newest brick-and-mortar 'On Trend' store for popular cosmetics and fragrance brands.

Nykaa announced on Facebook that their newest store in Pune opened on December 5. The new store has a multi-brand beauty assortment chosen based on its popularity on Nykaa's e-commerce platform. Laneige, Nuxe, Mario Badescu, Kay Beauty, Estee Lauder, Clinique, Pixi, Huda Beauty, Elf, Giowish, and Murad are among the brands with dedicated areas in the new shop.

Nykaa's own private label items, such as cosmetics and its scented bath product brand 'Wanderlust,' are also available at the store. Nykaa's skincare line is also accessible in-store, and the private label brand's goods are more affordable than international names, ensuring that buyers can find items in a variety of pricing ranges.

Nykaa is expanding its retail footprint across India, with intentions to quadruple its current shop count to 300 locations, however, the company has not established a timeline for the development.

According to Reuters, Nykaa now has outlets in 40 locations and intends to establish a brick-and-mortar presence in 100 cities.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

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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30th November 2021, Mumbai:

FSN E-Commerce Ventures Pvt Limited, the business behind Indian multi-brand beauty giant Nykaa, saw its market capitalisation reach Rs 1.19 lakh crore ($17.9 billion) on the Bombay Stock Exchange ahead of businesses including Paytm.

On November 26, Nykaa’s parent entity FSN E-Commerce market cap of Rs 1.19 lakh crore surpassed digital payments giant Paytm’s market cap of Rs 1.18 lakh crore and delivery business Zomato’s market cap of Rs 1.12 lakh crore, ET Tech reported. The business’ shares were also up by 5.22% at 1 pm on Friday on the BSE while Paytm and Zomato shares were both down.

The business’ performance is a testament to the recent growth of the cosmetics and beauty market in India, especially in the online space. From a valuation of $11 billion in 2017, the Indian beauty industry is predicted to reach $30 by 2025, Media India Group reported in September 2021.

Nykaa recently reported 63% year-on-year and 10% sequential growth in terms of its gross merchandise value for the fiscal quarter ended September 30, according to a regulatory filing by FSN E-Commerce Ventures Ltd, accessed by the Economic Times. The business’ consolidated revenue from operations also grew by 47% year-on-year to Rs 885.3 crore during the same time period.

The beauty giant also recently went public with its Rs 5,352 crore public issue which was subscribed 81.78 times from October 28 to November 1 with bids for 216.59 crore equity shares out of the offered size of 2.64 crore shares, Firstpost reported.

The business is currently continuing its brick-and-mortar retail expansion across India and expanding its live shopping services through partnerships with influencers and celebrities.

Fashion Network (The news article has not been edited by DFU Publications staff)

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Daily News:

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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11 November 2021, Mumbai:

Nykaa’s market capitalization has crossed the one trillion rupee mark. Online beauty, wellness, and fashion brand Nykaa have attained the rare distinction of becoming the first Indian unicorn to be led by a woman. Promoter Falguni Nayar, who owns a 54 per cent stake in the company, is the country’s richest self-made female billionaire.

Incorporated in 2012, Nykaa is one of the fastest-growing fashion platforms. It has a dominant presence in the online beauty and personal care segment and its average order value is the highest among online sellers.

It caters to over five million active users each month. Nykaa's apparel and accessories platform are one of the fastest-growing brands in India. It also runs 80 brick-and-mortar stores across the country.

Through its initial IPO, Nykaa raised Rs 6.3 billion, which will be used to increase brand awareness, set up new retail stores and warehouses, and repay its debt. The remaining Rs 47.22 billion was on offer for sale.

Nykaa has unique traits that are rare among start-ups. For starters the company is profitable. Nykaa reported a net profit of Rs 620 million for the financial year 2020-21 on revenues of Rs 24.4 billion and a gross merchandise value of $540 million.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.  

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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06 December 2021,  Mumbai:

Sustainable footwear D2C brand Neeman’s has raised a debt funding of Rs 7 crores from Stride Ventures. The D2C start-up was founded two and a half years back and has sold 250,000 pairs of footwear since then.

This is the 40th investment in Stride's portfolio across its two funds. The amount deployed from Stride Ventures India Fund – II will be utilised by the shoe brand for expanding its portfolio, intensive product development and commitment to the planet. It will also enable the company to enter new markets and segments.

This investment will enable Neeman’s to strengthen its journey towards reducing carbon footprint and staying committed to producing well-crafted comfortable shoes. It will also facilitate the start-up in extending into other categories such as fashion and apparel.

As a sustainable brand that uses completely natural, renewable, recyclable and chemical-free materials, Neeman's footwear are lightweight, flexible and machine washable. Neeman’s has launched merino wool shoes in India in collaboration with Woolmark.

Customers are increasingly gravitating towards environment-friendly businesses, as the world moves towards a sustainable way of living. While the Indian footwear industry is poised to grow at a steady pace, the D2C segment for the footwear industry has become the fastest-growing channel.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

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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25 November 2021, Mumbai:

Meesho’s gross merchandise value in January to October was twice as much as what it was doing in January to July. This social commerce startup, which has become a leading player in the social commerce space, offers its platform to small businesses largely led by women to sell on Facebook and WhatsApp.

The plan is to enable 100 million entrepreneurs across several categories to sell on its platform. Social commerce uses online platforms such as Facebook, Whatsapp, and Instagram to promote and sell products and services.

Starting in 2015, the company entered the online grocery space this year through Farmigo. It is building a logistics supply chain that will offer the lowest cost service across India. The company based in Bangalore witnessed over 57 million downloads across the App Store and the Google Play Store from August to October 2021, making it the most-downloaded app across all categories in India.

As per Economic Times, Meesho is finalising a financing round of nearly $1 billion that may take its valuation to around $8 billion. The company's valuation doubled to $4.9 billion in September. In April, Meesho was valued at $2.1 billion, when it raised $300 million from SoftBank's Vision Fund. The company has doubled its numbers since its last funding round.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

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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10th November 2021, Mumbai:

Superbottoms has raised Rs 3.5 crores in a venture debt funding round from Alteria Capital. It had earlier received funding from Singapore-based DSG Consumer Partners, Ash Lilani-led Saama Capital, and Kunal Bahl’s Titan Capital.

Superbottoms, based in Mumbai, a children’s wear start-up, will utilise the funds to diversify its product portfolio and widen its reach in the children’s category across the country. By 2023, children’s wear retail is projected to constitute almost 22 percent of the total apparel business in India.

The 0 to 14 years group amounts to around 29 percent of the total population. This market in India is mostly dominated by private labels -- big retailers, international brands, and just a handful of home-grown mono brands.

Organized brands comprise only a minuscule of the overall children’s wear market. Some Indian manufacturers who had previously been focusing solely on the export market have started reorienting themselves to meet the growing demand within the country.

The growing interest in dressing children in more elevated labels is a financial prospect for a luxury brand as well as a way to gain customer loyalty.

The children’s wear market is estimated at 1.4 billion dollars globally. For the past five years, growth in the sector has outpaced men’s and women’s wear.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.  

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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