04 September 2021, Mumbai:

According to a regulatory statement by the business, Aditya Birla Group flagship enterprise Grasim Industries Ltd has selected Hari Krishna Agarwal as its Managing Director with effect from December 1, 2021, after incumbent Dilip Gaur's desire for early retirement.

Gaur's request for an early retirement was accepted by the company's board of directors during its meeting on September 1, 2021.

As a result, "Gaur will cease to be Managing Director and Key Managerial Personnel, as well as a Member of the Board of Directors of the firm, with effect from the close of business hours on November 30, 2021," according to the filing. The board had already authorised Gaur's reappointment as MD for a one-year term beginning April 1, 2021, in February of this year.

Gaur joined the Aditya Birla Group (ABG) in 2004 after working for Hindustan Unilever Ltd for 24 years.

The firm also stated that its board of directors has authorised Agarwal's nomination "as the Managing Director and Key Managerial Personnel" for a two-year term beginning December 1, 2021, and ending November 30, 2023, subject to shareholder approval. Agarwal is a long-serving member of ABG, having worked there for over four decades.

He has held several positions in the cement, chemicals, and pulp and fibre industries throughout this time, according to the filing, before taking on his present post as Business Head, Pulp & Fibre.

He began his career with ABG in 1982 as a Management Trainee at Rajashree Cement, a division of Indian Rayon, as a Chartered Accountant and an Executive MBA from Sasin, Chulalongkorn University, Bangkok.

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03 September 2021, Mumbai:

Arvind Fashions is continuing to develop its digital business, which now accounts for 25% of the company's overall revenue, and expects to continue focusing on the sector as it grows at a rate of about 30% year over year. In an interview with ET Now, Arvind Fashions director Kulin Lalbhai said, "Already, 25% of our business is digital."

“We now have a digital company of Rs 1,000 crore [$150.3 million].” And it's expanding at a fast clip, with a year-over-year increase of over 30%. This enables our items to reach every Indian pin code.”

According to Lalbhai, the company has recovered well from the impacts of the coronavirus pandemic and has rebounded to 90 percent of pre-pandemic levels. Following the pandemic's problems, the company has expanded its attention on its internet channel, and the trend toward the organization of the Indian clothing sector is expected to continue in the future decades. During this time period, the company also anticipates middle-class consumption in the organized clothing sector to increase considerably.

Despite the company's strong concentration on its internet division, it remains optimistic about brick-and-mortar development. Arvind Fashions plans to open 150 to 200 stores each year across its six brands. “There will be a lot of development in small towns in India because that is where the new consumer is pouring in,” Lalbhai added. The company will also introduce new categories, such as children's apparel, footwear, and innerwear, and expand them both online and offline.

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6th September 2021, Mumbai:

The Indian Footwear Leather and Accessories Development Programme for leather and footwear is likely to be extended till 2025-2026 by the government in order to promote employment, production, and exports.

According to the Press Trust of India, the Union Government plans to invest further Rs 1,700 crore ($255.5 million) on the IFLADP throughout the course of its expanded time span. The Ministry of Commerce and Industry has previously proposed that the programme be implemented through the financial year 2026. 

The ministry's plan has been accepted by the spending budget committee, and it now has to be approved by the Union Cabinet before it can be implemented. From the financial years 2018 to 2020, the IFLADP was approved and implemented for the first time. The programme built infrastructure in the footwear and leather products industries, which resulted in job creation in those areas. In conjunction with this initiative, the government has identified the leather products and footwear industries as businesses potential of delivering considerable economic growth, particularly in terms of exports.

The initiative is divided into six sections, one of which is a strategy to promote Indian brands in the leather and footwear industries. The programme seeks to transform local companies into global powerhouses by promoting ‘Make in India' brands both within India and abroad, with a total investment of Rs 100 crore.

Sustainable technology, building institutional infrastructure, and developing design studios are some of the other components of the IFLADP.

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03 September 2021, Mumbai:

From January to July this year, Snapdeal had a 493 percent increase in sales of children's clothing in terms of units sold. Track pants were the most popular product on Snapdeal, followed by t-shirts and bottom sets, with the majority of sales coming from India's southern regions.

Despite the interruptions caused by Covid-19, the firm claims to have increased its client base, particularly in North and West India. “Spending on children and apparel is no longer restricted to special events such as birthdays and festivals,” a Snapdeal spokesman said in a statement, commenting on the segment's rise. Parents now purchase children's clothing based on the season, size, and additional reductions available during sales. 

In line with adult fashion tastes, shopping behavior for children's clothing is shifting toward more utilitarian and comfy options, but with a high trendiness quotient.” Snapdeal has responded to growing sales of children's clothes by introducing more vendors to the sector and offering discounts in recent months. Luke and Lilly, Hopscotch, Gini and Jony, Cherokee, Donuts, Colt, Hellcat, Kyda, Aarika, Naughty Ninos, and many others are among the brands represented.

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02 September 2021, Mumbai:

With the opening of its first unique brand store in Bengaluru, handcrafted shoe brand Pastels & Pop has entered the physical and mortar arena. The business, which spans three levels and covers an area of 1,800 square feet, is located in the city's famed shopping district of Indiranagar.

The store will sell the brand's most recent collection, which starts at Rs 2,300 ($35). The brand anticipates excellent sales at its Indiranagar location and plans to expand into new cities in the following months.

“We are pleased to present our first-ever concept store in Bengaluru providing a 360-degree shopping experience to our customers,” Akanksha Chhabra, co-founder of Pastels and Pop, said in a statement on the store's launch in Bengaluru. For today's millennial lady, we've introduced a selection of juttis as well as our brand-new slides, which are sure to impress and leave them wanting more.” Pastels and Pop is a footwear line developed by Akansha and Aarti Chhabra, with clients like Anushka Sharma, Sonam Kapoor, Karishma Kapoor, Sara Ali Khan, Sonakshi Sinha, Malaika Arora, Taapsee Pannu, and others.

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