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Fashion 08-06-2023

Arvind Fashions Revamps Strategy, Prioritizes Core Brands

08 June 2023, Mumbai

Arvind Fashions, a prominent player in the fashion industry, has undertaken a major transformation by divesting non-performing brands and focusing on core brands. The company's strategic shift prioritizes renowned labels such as US Polo Assn., Tommy Hilfiger, Flying Machine, Arrow, Calvin Klein, and Sephora, aiming to build fewer but stronger brands. Despite the challenges posed by the pandemic, Arvind Fashions achieved impressive financial results, with FY23 revenue reaching ₹4,421 crore and a profit of ₹37 crores, highlighting the positive impact of their strategic decisions.

The Importance of Scale and High-Conviction Brands

The company recognizes the significance of scale in the retail sector. By concentrating on brands capable of surpassing ₹1,000 crores in revenue, Arvind Fashions strives to unlock real operating leverage, cash flows, and return on capital employed.

Their focused approach includes boosting brand growth, enhancing retail execution, premiumizing products, and increasing advertising investments. These efforts have yielded tangible outcomes, including robust like-for-like growth, reduced discounting, improved cash flows, and a return on capital employed nearing 15%.

Arvind Fashions remains committed to digital expansion, with continued investments in their e-commerce ventures, including Nnnow.com. They aim to strike a balance between multi-brand and single-brand strategies in the online space. Moreover, the company sees immense potential in introducing India-specific sizing for apparel and footwear, a bold initiative that can pave the way for significant growth.

Future Plans and Debt Reduction

To address its debt, Arvind Fashions follows a clear plan centered on scaling its existing brands. With year-on-year profitability on the rise and an asset-light strategy, the company generates free cash flows that will contribute to debt reduction over the next few years. Additionally, Arvind Fashions identifies white spaces within the retail market, aligning its brand extensions accordingly.

Expanding Horizons in the Retail Sector

They hold a strong belief in the footwear segment's potential, envisioning it as a ₹1,000 crore opportunity for further expansion and success.

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Fashion 08-06-2023

P N RAO Debuts Elegant Women's Collection

07 June 2023, Mumbai

Unveils Chic Women's Collection; Legendary Bengaluru-based men's wear line, P N RAO, expands its horizons by launching a women's wear collection, combining finesse, style, and elegance. The eagerly anticipated range includes eight garments across four segments, catering to discerning and fashion-conscious ladies.

Style and Elegance

Models graced a glittering Fashion Show, offering a sneak peek into the upcoming collection, which captivated the audience. Alongside the women's line, P N RAO showcased its Centennial Collection of men's wear, commemorating the brand's illustrious 100-year journey.

Crafted using high-quality materials such as Wool, Polywool Lycra, Silk, and Brocades, the women's suits exude richness, class, and finesse—attributes synonymous with P N RAO.

Celebrating Style

Naveen Pishe, Partner at P N RAO, expressed pride in the brand's foray into women's wear, leveraging their expertise in suit design. The initial phase of the collection will be available as bespoke offerings in P N RAO's M G Road and Indiranagar showrooms in Bengaluru.

With a focus on fabric selection, patterns, and colors, P N RAO ensures that the women's suits possess the desired stretch and are in line with current fashion preferences. Leveraging access to a wide range of domestic and global fabrics, P N RAO aims to create distinctive women's suits that set them apart in the market.

As part of their centenary celebration, P N RAO honored 100 distinguished personalities who have contributed significantly to Bengaluru's growth and success. The gesture acknowledges the city's achievers across various fields and expresses gratitude for their invaluable contributions.

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Fashion 07-06-2023

Galeries Lafayette taps PR company to enter Indian market

19 May 2023, Mumbai

French luxury department store Galeries Lafayette Paris Haussmann has selected One Rep Global as its public relations representative for India, aiming to expand its presence in the Indian market.

One Rep Global, a sales representation company specializing in luxury, wellness, travel, and hotel businesses, will leverage its expertise and network to promote Galeries Lafayette's renowned Paris department store to an Indian audience.

Since its establishment in 1894, Galeries Lafayette Paris Haussmann has become a prominent luxury destination, housing over 2,000 brands from various countries. Renowned for its iconic Art Nouveau dome, the department store attracts approximately 37 million visitors annually.

By tailoring marketing strategies to the preferences of the Indian luxury market, One Rep Global aims to assist Galeries Lafayette in refining its product and service offerings to suit the needs of Indian consumers. With their extensive experience in the Indian and UAE markets, One Rep Global is well-positioned to support Galeries Lafayette in expanding its reach and captivating the Indian audience.

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Fashion 19-05-2023

Galeries Lafayette taps PR company to enter Indian market

Major brands transform stores for post-pandemic success in India

13 May 2023, Mumbai

In the aftermath of the pandemic and a resurgence of in-store shopping, major retailers in India, including H&M and Zara, are embarking on extensive store renovations in a bid to attract customers.

What all you need to know

This trend, although not unfamiliar in the retail industry, has gained renewed momentum as retailers strive to make up for lost time and captivate the attention of shoppers.

Joining the wave of store revamps are retail giants like United Colours of Benetton, Starbucks, and Lifestyle, who recognize the significance of keeping pace with evolving trends and ensuring their stores reflect the changing preferences of shoppers.

The pandemic has prompted brands to reassess their retail strategies, prioritizing the shopper experience and shutting down unprofitable stores. Moreover, the retail landscape has become more competitive with the entrance of global brands such as Gap and Uniqlo into the Indian market.

The revitalization of retail stores in India demonstrates a strategic response to the shifting dynamics of the post-pandemic retail landscape. Retailers are placing emphasis on creating modern, inviting, and dynamic spaces to engage customers and maintain their competitiveness in an evolving market.

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Fashion 13-05-2023

Fashion Drives India's Future Success: Piyush Goyal

05 June 2023, Mumbai

Union Textiles Minister Piyush Goyal led the 'National Workshop on Convergence of Five Institutes' in New Delhi, highlighting the significance of fashion trends, product design, innovative packaging, and high-quality goods and services in shaping India's future success.

What all you need to know

The workshop aimed to integrate five institutes under the Ministry of Textiles and Commerce and Industry: the Indian Institute of Packaging (IPP), the National Institute of Fashion Technology (NIFT), the National Institute of Design (NID), Footwear Design and Development Institute (FDDI), and Indian Institute of Foreign Trade (IIFT).

Shaping India's Future

This collaboration aims to create an integrated national design and business education ecosystem that benefits students, industries, and society. By merging knowledge and expertise from diverse fields, the convergence aligns with the objectives of the National Education Policy 2020, fostering transdisciplinary integration.

Minister Goyal acknowledged India's transformative journey under Prime Minister Narendra Modi's leadership, recognized globally as a key driver for Asian and global growth. He praised the projected high GDP growth estimates for FY 2023-24, attributing them to the visionary guidance of the prime minister.

Curriculum Changes for Dynamic Learning

Goyal urged ministries to implement the workshop's ideas within set timelines, emphasizing the importance of effective utilization. He advocated for inclusive and dynamic curriculum changes, nurturing critical thinking and skill development among students.

The minister emphasized that the convergence initiative would bolster the institutes and industry-academia partnership, urging minimal government interference and self-sufficiency.

He suggested expanding admissions to meet the demand for designers and fashion specialists, while also emphasizing the development of finance, entrepreneurship, and personal skills.

From Workshop to Implementation

Goyal proposed credit systems for student flexibility and dual degree programs, highlighting the role of alumni in providing support through donations, faculty contributions, and mentorship.

He emphasized the need for improved placements and increased industry engagement, aligning curricula with workplace requirements.

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Fashion 06-06-2023

Faballey Collaborates with Designer for Captivating Collection Launch

Faballey, a fashion-forward western wear brand, has joined forces with renowned designer Siddartha Tytler to create a captivating collection that embraces global trends and celebrity style. This collaboration aims to empower women with confidence and distinctive fashion choices. The collection showcases Tytler's iconic prints and signature silhouettes, incorporating a fresh yet timeless color palette.

Designed with versatility in mind, the limited edition capsule collection seamlessly transitions from far-flung destinations to everyday settings such as work and play. The assortment features dusky blues, soft pinks, midnight blacks, pristine whites, and molten metallics, evoking the allure of a spontaneous tropical getaway that appeals to women of all ages.

The collection presents a range of captivating pieces for balmy summer evenings, including free-spirited maxis and playful kaftans that effortlessly transition from the beach to the bar. Sleek crop tops, statement jumpsuits, and flowing yet sharp trousers add a touch of "resort chic" to brunches and midday soirees in the city. Moreover, the collection caters to the allure of a midsummer night's dream with sultry body-flattering dresses adorned with sequins and shimmery surface embellishments, perfect for celebratory occasions.

The Siddartha Tytler X Faballey collection promises to be the ultimate companion for a sun-soaked summer filled with getaways and cherished memories. The price range for the collection falls between Rs1600 and Rs3800, catering to various budgets.

The collection will be exclusive available at Faballey outlets and Shoppers Stop, Lifestyle and also at online marketplaces.

Fashion 15-05-2023

Masaba Gupta's largest store elevates Bandra's fashion scene

12 May 2023, Mumbai

Fashion designer Masaba Gupta recently unveiled her largest store to date in Mumbai's vibrant neighborhood of Bandra, marking a significant milestone for her renowned brand, House of Masaba. Known for her distinctive designs and unique print patterns, Gupta has established herself as a leading figure in the Indian fashion industry.

What distinguishes this new store from her previous outlets is its serene and understated ambiance. The sprawling space boasts daisy-adorned walls and grey-wash flooring, evoking a tranquil ashram-like atmosphere.

The Bandra outlet features two distinct counters: one dedicated to exquisite jewelry pieces and another exclusively showcasing Lovechild by Masaba, a brand extension that embodies Gupta's evolution as both a designer and an individual. This transformation reflects her transition from the realm of loud and daring hues to a more refined and soothing color scheme.

By reimagining the design aesthetics of her Bandra store, Masaba Gupta has effectively communicated the brand's metamorphosis and her personal growth.

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Fashion 12-05-2023

Masaba Gupta's largest store elevates Bandra's fashion scene

ABFRL reports for Q4 FY23

24 May 2023, Mumbai

Aditya Birla Fashion and Retail Ltd (ABFRL) announced a consolidated net loss of Rs 194.54 crore for the fourth quarter (Q4) ending on March 31, 2023.

This is in contrast to a consolidated net profit of Rs 31.90 crore in the same quarter of the previous fiscal year.

Factors Affecting Profitability:

The company attributed the loss to negative operating leverage resulting from sluggish sales. Increased marketing spending (approximately 1.5 times compared to the previous year) and continued investments in TMRW also impacted profitability during the quarter.

Increased Total Income:

Despite the net loss, ABFRL's total income rose by 26.2% to Rs 2,916.13 crore in Q4 FY23, compared to Rs 2,309.55 crore in the corresponding quarter of the previous fiscal.

This growth was driven by strong retail like-to-like (LTL) sales across businesses, an accelerated omnichannel approach, and network expansion, with over 500 stores added in the past year.

Total Expenses and Future Outlook:

The company's total expenses increased to Rs 3,177.64 crore in Q4 FY23 compared to Rs 2,266.06 crore in the same quarter of the previous fiscal. ABFRL remains focused on its strategy of building strong, timeless brands and managing its businesses with flexibility and agility as the economic situation recovers.

The company sees potential for significant growth in the apparel industry, supported by premiumization and the shift from unbranded to branded products.

Retail Network:

ABFRL currently operates 3,977 stores across 33,535 multi-brand outlets, with 6,723 points of sale in department stores throughout India as of March 31, 2023.

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Fashion 24-05-2023

Falguni Shane Peacock returns to New York Fashion Week after 8-year hiatus

15 May 2023, Mumbai

Falguni Peacock and Shane Peacock, renowned fashion designers, are poised to make a grand comeback to the New York Fashion Week in September. After a brief hiatus from showcasing on the New York runways since 2015, the eponymous brand, Falguni Shane Peacock, is ready to make a resounding statement once again, as reported in Women’s Wear Daily.

Over the past 18 years, Falguni Shane Peacock has established a global reputation, with their collections selling out rapidly, including a notable success at London Fashion Week where they debuted and made a significant impact. While building their international acclaim, the Peacocks deliberately shifted their focus to strengthen their Indian roots and expand their presence in the couture and bridal markets within India.

Recognizing the enormous potential of the Indian bridal industry, which was estimated to be worth around $50 billion in 2017 with an impressive annual growth rate of 25 to 30 percent, the designers strategically chose to tap into this vast market. The allure of luxury Indian bridal outfits, with price tags ranging from $1,000 to a staggering $25,000, has captivated brides and their families. KPMG estimates that an average Indian is willing to spend up to one-fifth of their lifetime wealth on a wedding.

Falguni Shane Peacock attributes their success in the bridal market to their fusion of modern silhouettes with traditional Indian cultural elements. By showcasing intricate artisanal handcrafted work combined with a contemporary twist, the brand has garnered attention not only in India but also among diaspora Indians globally, including those residing in the United States.

To mark their official comeback announcement, Falguni Shane Peacock hosted an exclusive afternoon tea at Bergdorf Goodman, inviting influential members of the South Asian press, fashion influencers, and industry insiders. The event was met with great enthusiasm, as attendees eagerly welcomed the designers back into the international fashion scene.

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Fashion 15-05-2023

Falguni Shane Peacock returns to New York Fashion Week after 8-year hiatus

Allen Solly sets new standard with its 5,000 sq ft flagship store in garden city

11 May 2023, Mumbai

Fashion retail brand Allen Solly has recently opened its largest flagship store at HSR Layout, in the garden city, Bangalore. Spanning an impressive 5,000 square feet, this store marks a significant milestone in the company's expansion plans, particularly in the southern market.

The decision to establish a flagship store in Bangalore stems from Allen Solly's desire to forge stronger connections with its customers and increase its market presence.

Allen Solly, a prominent fashion label, is a subsidiary of Aditya Birla Fashion and Retail, a major player in the apparel industry. With the launch of its flagship store in Bangalore, Allen Solly aims to further solidify its brand presence and cater to the growing demands of the fashion-conscious population in the region.

By providing an extensive range of trendy and stylish apparel, the brand seeks to enhance its reputation as a go-to destination for fashion enthusiasts seeking quality and innovation.

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Fashion 11-05-2023