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Fashion 16-02-2022

Victoria's Secret new patent

16 February 2022, Mumbai:

Victoria's Secret New Patent Hints That Its Axed Annual Fashion Show Could Return In The Metaverse.

Victoria’s Secret is the latest retailer to join the metaverse.

A series of trademark applications this month show it plans to sell virtual goods and run virtual fashion shows.

Victoria’s Secret axed its annual runway show in 2019.

victoria's-secret-new-patent-hints-that-its-axed-annual-fashion-show-could-return-in-the-metaverse

Victoria’s Secret killed its annual fashion show in 2019 but a new patent filing suggests that it could one day come back in the metaverse. The lingerie giant filed a trademark application with the US Patent and Trademark Office on February 8, which was later shared on Twitter by trademark attorney Josh Gerben.

ALSO READ: Victoria’s Secret opens website in India

According to the documents, Victoria’s Secret has filed trademarks to sell virtual goods such as clothing, undergarments, and footwear. In addition, it is looking to trademark “retail store services featuring virtual goods” and “entertainment services” such as photos, images, videos, and recorded footage, which it will use in virtual fashion shows, it said.

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*Figures mentioned in the above article have been sourced from Digital California News article.

Fashion 16-02-2022

TCNS Clothing Co's earnings for the third quarter fy22

16 February 2022, Mumbai:

For the third quarter ending December 2021, TCNS Clothing Co saw a 98 percent increase in net profit to Rs 25 crore ($3.6 million), up from Rs 13 crore the previous year.

The company's sales for the quarter increased by 38% to Rs 329 crore, up from Rs 237 crore in the previous fiscal year's similar period. "The offline channel recovered back quickly to surpass 90% against pre-covid levels," TCNS said in its quarterly statement on Q3 results.

TCNS Clothing Company Ltd | LinkedIn

Following the second wave, the recovery was more fairly spread across city tiers and store kinds. Our website outperforms other platforms and currently generates high teen amounts of internet money."

ALSO READ: Indian Terrain Q3 FY22 results

"D2C business is driving growth," it continued, "continuing to provide more than 50% of online sales.

" TCNS Clothing now has over 400 exclusive brand outlets, over 1,300 large format retail outlets, and 1,400 multi-brand stores across India for its numerous brands.

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*Figures mentioned in the above article have been sourced from Equity Bulls Money Control & Fashion Network article.

Fashion 16-02-2022

Piyush Goyal x Fashion Designers Brainstorm: How India can become ''Global Fashion Capital"

14 February 2022, Mumbai:

India should display its products globally alongside prominent fashion houses, opines Piyush Goyal, Minister for Textiles and Commerce and Industry. The minister also urged designers to ensure that each of the 75 lakh identified craft people earns Rs 1,000 more every month.

He urged National Institute of Fashion Technology alumni to come together to bring change the entire craft ecosystem.

Goyal advised each alumnus to adopt a craft person and devote time to educate the non-privileged section of the society on various aspects of design, management and technology.

ALSO READ: Piyush Goyal addresses IIT Kanpur’s Policy Conclave 2022

He appreciated Indian designers for their passion for crafts and emphasized that the art, craft, tradition and heritage of Indian designers need to be respected.

Goyal also appreciated the idea of wearing khadi/ handloom one day a week and the sense of designers having pride in the nation. It opens up a lot of possibilities and encourages designers to play a huge role in the industry’s development, he added.

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Fashion 14-02-2022

Piyush Goyal x Fashion Designers Brainstorm: How India can become ''Global Fashion Capital"

Future Lifestyle Fashion (FLFL) to focus on improving footfalls and ticket size

14 February 2022, Mumbai:

Future Group-owned Future Lifestyle Fashions (FLFL) plans to focus on improving its footfalls and ticket size through various marketing strategies besides launching new product categories to boost sales in the coming quarters.

The company managed to narrow its losses to Rs 112 crore for the third quarter ended December 2021, compared to a net loss of Rs 174 crore it posted in the year-ago period.

Future Lifestyle Fashions - Index

The company’s revenue for the quarter rose by 32 percent to Rs 1,255 crore, as against Rs 950 crore it posted in the corresponding period of the previous fiscal year.

ALSO READ: Amazon India looks to block sale of Future Group's small-format stores

Inflation and rising raw material costs, coupled with supply chain disruptions pose a big threat to various sectors despite consumer confidence improving over the last quarter, the company said.

It ended the December quarter with a store count of 331 across all formats.

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Fashion 14-02-2022

Future Lifestyle Fashion (FLFL) to focus on improving footfalls and ticket size

THE METAVERSE FASHION SHOW HAS BEEN RESCHEDULED FOR FEBRUARY 24TH -26TH, 2022

15 February 2022, Mumbai:

February 24 & 26 VIRTUAL EVENT

Attend a fashion show in the Metaverse, meet the designers, shop in their boutiques and explore the future of fashion. Limited availability! Each session is 55 mins, with full access to the entire experience.

Digital Fashion Week New York

Limit 100 visitors per session. Step into the future with a Metaverse fashion show featuring some of the world's best digital designers.

ALSO READ Virtual Fashion.Tech: Innovative and engaging Metaverse Networking Platform

Wander through the exquisite Metaverse fashion experience, chat with the designers, visit their boutiques, buy NFT fashion, take a ride in a virtual hot air balloon and watch a fashion show with music from DJ Cherish the Luv.

POAP airdrop for all Metaverse fashion attendees.

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*Figures mentioned in the above article have been sourced from Digital Fashion Week article.

Fashion 15-02-2022

THE METAVERSE FASHION SHOW HAS BEEN RESCHEDULED FOR FEBRUARY 24TH -26TH, 2022

Eske Paris to expand the product range

12 February 2022, Mumbai:

D2C lifestyle brand Eske Paris plans to expand its product range coupled with domestic and international expansion.

The brand has raised a total of Rs 2.5 crore in a seed funding round led by Fluid Ventures. Angel investors Divij Bajaj and Ankit Gera also participated in the funding round.

Eské Paris, Direct-to-consume (D2C) lifestyle brand raises funds

Shivam Khanna, Founder says, digital-first brands have been able to scale to over $150million in revenue within five years. Eske Paris has the depth, hunger, and commitment to improve this and build one of the largest global D2C brands of the decade.

The pandemic has led to certain structural shifts in consumer choices and shopping behavior in India.

ALSO READ Virtual Fashion.Tech: Innovative and engaging Metaverse Networking Platform

Millennials are shifting towards premium products, a trend that is set to accelerate in the coming decade adds Khanna. Eske mainly operates through its own website and other e-commerce marketplaces.

The brand has made a profit this year and aims to double its growth in the coming year.

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*Figures mentioned in the above article have been sourced from Fashion Network article.

Fashion 14-02-2022

Mensa Brands leads Series A round in 'RENEE Cosmetics'

14 February 2022, Mumbai:

New-age beauty brand RENEE Cosmetics has raised $10 million in its Series A round led by Mensa brands. Existing investors including Equanimity and 9Unicorns have also joined the new round.

The brand has raised a total of $11.5 million till date, including the current round. The Ahmedabad-based startup plans on utilising funds majorly in strengthening the brand presence and widening offline presence.

Additionally, a part of the fund will also be leveraged for catalog expansion and marketing budgets Founded by Aashka Goradia Goble along with Beardo co-founders Ashutosh Valani and Priyank Shah, RENEE Cosmetics is a cruelty-free beauty brand offering a wide range of eye makeup, lip colours, skin serums and highlighters.

ALSO READ: Eské Paris, Direct-to-consume (D2C) lifestyle brand raises funds

Currently the beauty brand sells products through all leading online channels and over 500 stores in the country.

It claims to clock an ARR of Rs 60 crore and is all set to reach an ARR of Rs 150 Crore by the end of this fiscal year.

Last year, RENEE had closed its pre-Series A round of $1.5 million led by Equanimity Ventures and 9Unicorns with participation of Titan Capital.

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*Figures mentioned in the above article have been sourced from Entrackr article.

Fashion 14-02-2022

Mensa Brands leads Series A round in 'RENEE Cosmetics'

African Development Bank’s Fashionomics Africa, partners, launch new sustainable fashion competition with $6,000 in cash prizes

15 February 2022, Mumbai:

The African Development Bank Fashionomics Africa initiative’s second online competition is offering $6,000 total in cash prizes, mentoring, new branding packages and other support for winning African designers of sustainable and circular fashion.

Fashionomics Africa, in collaboration with the United Nations Environment Programme, Parsons School of Design, strategic consulting and communications agency BPCM, and the Ellen MacArthur Foundation, invite interested African fashion brands to apply to the sustainable fashion online competition.

African Development Bank Group (AfDB)

Entrants must be pursuing environmentally friendly measures, sustainability, and circular economy actions to qualify. The designer or design team submitting the “best sustainable design” will win $3,000 along with other prizes. Two other competition finalists will take home $1,500 each, plus other support.

The competition celebrates African fashion brands that will change how we produce, buy, use and recycle fashion and that encourage a more sustainable shift in consumer practices. “Sustainability is the present, not the distant or even the near future.

ALSO READ: Polish Retailer LPP Partners With Cotton made in Africa

It is where we are now, and it is vital that we open our eyes to what the fashion industry already has to offer. By embracing the industry’s existing resources, we are promoting circularity at the most fundamental level,” said Amel Hamza, Acting Director for Gender, Women and Civil Society at the African Development Bank.

A five-person judging panel representing the African Development Bank and competition collaborators will announce the three finalists by 22 March 2022.

The finalists’ entries will be posted on the Fashionomics Africa digital marketplace and mobile application (https://bit.ly/3BfEH4D) for public vote between 22 March 2022 and 7 April 2022. Polls close on 7 April at 23:59 GMT.

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Fashion 15-02-2022

African Development Bank’s Fashionomics Africa, partners, launch new sustainable fashion competition with $6,000 in cash prizes

Arvind Fashions posts Q3 FY22 results

14 February 2022, Mumbai:

Against Rs 68 crore net loss posted in the third quarter of previous fiscal 2020-21.

Arvind Fashions posted a net profit of Rs 6 crore in the third quarter of fiscal 2021-22 that ended December 31, 2021.

The company’s exit from certain brands and businesses to focus on only six marquee brands including US Polo Association, Arrow, Flying Machine, Calvin Klein, Tommy Hilfiger and beauty brand Sephora helped it gain profits and tap growth. Arvind Fashions's revenue grew 30 per cent on a year-on-year (YoY) basis to Rs 1,008 crore in Q3 of FY'22 from Rs 773 crore in Q3 of FY'21.

Shailesh Chaturvedi, Managing Director & CEO, Arvind Fashions says, the company was able to achieve strong results due to its sharp execution in retail channel that resulted in over 40 per cent like-to-like (LTL) growth and continued momentum in online channel, leading to EBITDA margins expansion by 200 bps.

They hope to deliver sustainable profitable growth over a long term by de-leveraging growth and focusing on six high conviction brands. Meanwhile, the company's net debt stood at Rs 430 crore, lower by roughly Rs. 500 crore compared to March 2021.

Fashion 14-02-2022

New York Fashion Week: Shayne Oliver Returns to Fashion Week

14 February 2022, Mumbai:

ABOUT New York Fashion Week

*New York Fashion Week, held in February and September of each year, is a semi-annual series of events (generally lasting 7–9 days) when international fashion collections are shown to buyers, the press, and the general public.

It is one of four major fashion weeks in the world, collectively known as the "Big 4", along with those in Paris, London, and Milan.^[1]^[2]

The Council of Fashion Designers of America (CFDA) created the modern notion of a centralized "New York Fashion Week" in 1993, although cities like London were already using their city's name in conjunction with the words fashion week in the 1980s.

Shayne Oliver Returns to Fashion Week on His Own Terms | Vogue

NYFW is based on a much older series of events called "Press Week", founded in 1943.^[3]

A centralized calendar of citywide events (including those affiliated with WME/IMG) is kept by the CFDA,^[4] and was acquired from calendar founder Ruth Finley.^[5] The economic impact of New York Fashion Week is estimated at $887 million.^[6]

*The last time Shayne Oliver held a fashion show in New York, it was set to sounds of orgasms and sponsored by Pornhub. A lot has changed since 2017, when he put Hood by Air on hiatus, but the constant in Oliver’s work is his ability to electrify and challenge the fashion system.

And, boy, did he ever do that with a performance of new music with Arca and a presentation of new clothing at The Shed last night. How to explain exactly what we saw over smoke, scaffolding, and a sculpture of Oliver melting into a platform?

ALSO READ: Paris fashion week men's 2022

Having followed his work since the mid-2010s, I am sure that the best part of his oeuvre is that it cannot be easily defined or digested. In the immediate minutes following the show, as fashion people, art- world glitterati, celebrities like Hunter Schafer and Evan Mock, and former HBA collaborators Luar’s Raul Lopez and Gypsy Sport’s Rio Uribe took the long escalator journey down to the street, several people texted me about what they had seen: “genius,” “arresting,” “disrespectful,” “too long,” “arduous,” and “WOW!” No uniform consensus congealed—and 12 hours later I’m still rehashing the models’ dripping clothing and Pat McGrath’s incredible floral makeup in my head.

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*Figures mentioned in the above article have been sourced from VOGUE & en.wikipedia.org article.

Fashion 14-02-2022