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Levi's: New store opens @ Oberoi Mall in Mumbai

28 June 2022, Mumbai:

*Levi’s launches its largest-sized store within an Indian mall to date in Mumbai’s Oberoi Mall. The retail space has a unique feature having a customisation area where shoppers can personalise their Levi’s clothing.

Not only do our brands share a common goal to always delight and inspire fans, but we also have a shared commitment to creating quality and timeless designs for all.

ALSO READ Levi's: Amisha Jain to lead SA, Middle East & Africa

“Levi’s® remains a leader in denim and casual lifestyle apparel because of our ability to create deep connections with consumers and a frictionless shopping experience that fits with their everyday lives,” said Seth Ellison, EVP, chief commercial officer, and interim Levi’s® brand president.

CREDITS: *Fashion Network

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Levi's: New store opens @ Oberoi Mall in Mumbai

NIKE Inc.: Fiscal 2022 Report

25 June 2022, Mumbai:

NIKE, Inc. Reports Fiscal 2022 Fourth Quarter and Full Year Results.

NIKE, Inc. (NYSE:NKE) today reported financial results for its fiscal 2022 fourth quarter and full-year ended May 31, 2022.

Fourth-quarter reported revenues were $12.2 billion, down 1 percent compared to the prior year and up 3 percent on a currency-neutral basis*

NIKE Direct reported revenues for the fourth quarter were $4.8 billion, up 7 percent compared to the prior year and up 11 percent on a currency-neutral basis

Wholesale reported revenues for the fourth quarter were $6.8 billion, down 7 percent compared to the prior year and down 3 percent on a currency-neutral basis

The gross margin for the fourth quarter decreased 80 basis points to 45 percent.

Diluted earnings per share were $0.90 for the fourth quarter

The Company announced its Board of Directors has authorized a new four-year, $18 billion program to repurchase shares of NIKE's Class B Common Stock

“NIKE’s results this fiscal year are a testament to the unmatched strength of our brands and our deep connection with consumers," said John Donahoe, President, and CEO, NIKE, Inc. “Our competitive advantages, including our pipeline of innovative products and expanding digital leadership, prove that our strategy is working as we create value through our relentless drive to serve the future of the sport."**

Fourth-quarter NIKE Direct revenues grew 7 percent on a reported basis and 11 percent on a currency-neutral basis, led by 25 percent growth in EMEA, 43 percent growth in APLA, and 5 percent growth in North America, partially offset by a decline in Greater China.

NIKE Brand Digital grew 15 percent on a reported basis and 18 percent on a currency-neutral basis, driven by double-digit growth in APLA, North America, and EMEA. NIKE-owned stores declined 2 percent on a reported basis and increased 1 percent on a currency-neutral basis.

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NIKE Inc.: Fiscal 2022 Report

H&M: To buy back own shares for SEK 3 bn

30 June 2022, Mumbai:

The board of directors of H & M Hennes & Mauritz AB has decided to utilise the authorisation granted by the 2022 annual general meeting to acquire the company’s own B shares in order to transfer capital to the shareholders and adjust the company’s capital structure.

The share buyback programme will be carried out in accordance with the EU Market Abuse Regulation (MAR) and Commission Delegated Regulation (EU) 2016/1052 (the so-called Safe Harbour Regulation).

ALSO READ  H & M Hennes & Mauritz AB: 3-month report

Acquisitions of shares will be managed by an investment firm or credit institution that makes its trading decisions regarding the timing of the acquisitions of H&M’s shares independently of H&M. In conjunction with the full-year report for 2021 the board of H&M communicated its intention to buy back shares for a total of SEK 3 billion in the period up to the 2023 annual general meeting.

The board has now decided to repurchase shares for this amount. The purpose of the purchases is to distribute surplus liquidity and thereby adjust H&M’s capital structure by reducing its capital.

Accordingly, the board of directors intends to propose to the 2023 annual general meeting that the repurchased shares are cancelled. It is intended that the reduction in share capital will be met by a corresponding bonus issue so that the level of share capital is restored.

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H&M: To buy back own shares for SEK 3 bn

Future Lifestyle's Cover Story: May Go To Reliance Retail

25 June 2022, Mumbai:

Edelweiss is in talks to sell Future Lifestyle's Cover Story to Reliance Retail.

Future Retail to sell fast-fashion brand Cover Story for Rs 200 crore while the Kishore Biyani-owned retail firm is in talks with Thrasio-style GOAT Brand Labs and Mensa Brands to sell apparel labels Jealous 21 and aLL, said people with knowledge of the developments.

"Cover Story is mortgaged with Edelweiss Asset Management, which is one of the lenders and is owed about Rs 600 crore from FLF," said one of them.

"Jealous 21 and aLL are being sold directly by FLF to pare debt and is part of a wider divestment plan that includes selling a few other brands.".

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

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Future Lifestyle's Cover Story: May Go To Reliance Retail

Mom & World: Deepens its product portfolio

27 June 2022, Mumbai:

Mom and World has recently introduced its range of Kids products under the banner of KIDSY on its e-commerce website.

The Kidsy section portfolio includes all Kids Personal Care, School Bags, Water Bottles, Health Care, Perfumes, Kids Beauty and Health Care. To Begin with, Products like Kidsy body wash, body lotion, lip balm, hair range, and health gummies.

The official website makes all the above available to its discerning customers. 

CREDITS: Indian Retailer

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Mom & World: Deepens its product portfolio

Raymond's Ethnix: Expands Retail Footprints

27 June 2022, Mumbai:

Ethnix by Raymond has expanded Retail Footprints with the flagship store launch at Ajmal Khan Road, Karol Bagh in the Delhi, NCR.

The store is home to the latest collection including a wide range of ethnic wear like kurtas, sherwanis, bundis, and bandhgalas.

ALSO READ  Ethnix by Raymond opens largest flagship store in Delhi

The brand is optimistically envisaging consolidating its offline retail presence by opening multiple Pan-India stores across the country during the current FY.

CREDITS: Fashion Network

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Raymond's Ethnix: Expands Retail Footprints
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