6TH AUG 2021, MUMBAI:

Philipp Plein Group, based in Switzerland, has become the first major fashion company to accept payment in 15 different cryptocurrencies, including Bitcoin and Ethereum. Many of the group's physical and mortar retail locations across the world, as well as the brand's e-commerce site, now accept digital currency for transactions.

It expects the decision to have the most beneficial impact. According to a press release from the firm, German designer and creator Philipp Plein and his group have always been at the forefront of investment and development in digital technologies applied to the fashion sector.

Philipp Plein, one of the first worldwide brands to build and develop an in-house e-commerce platform, has transformed e-commerce into its most profitable channel, with a record turnover of €100 million projected in 2021. “I think that cryptocurrencies are the way of the future, and my team and I have invested a significant amount of time and money in making all of the required system changes to accommodate this new sort of currency. Plein stated, "I'm thrilled to be able to offer our clients this extra payment option and the freedom that comes with it."

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3rd Aug 2021, Mumbai:

In what could be a space 'Disruptor' for Indian online fashion eco-system.

This is Nasdaq-listed company like e-bay giveing users all access to upload own apparels and sell other users. It is quite features rich in the sense of giving & receiving comments & likes, besides permitting users to follow individual sellers on the given platform. Supposedly it claims to have an edge over desi platform likes of 'Quickr or an olx' in the sense of its new age feature offerings where the existing platforms do not support in logistics operation and payment responsibility; Whilst interestingly Poshmark claims to have a robust customer friendly 'back-end-support' enhancing customer experience.

Manish Chandra, Founder & CEO at Poshmark, company has $1.4 billion GMV (Gross Merchandise Value) operating in the US, Canada & Australia. 

WATCH: https://www.youtube.com/watch?v=UMtsgRtGRhs

USP in India

Indian society instinctively is sustainably conscious of discrete consumption particularly Covid has only underlined the message and whereas, this platform offers both value & sustainable lifestyle which is likely to provide it fundamental demand tailwind.

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22nd July 2021,Mumbai:

Canopy not-for-profit organisation initiatives like 'Pack4Good' is around sustainable packaging & material sourcing.

Flipkart maintains it is the signature of our platform,"To create a sustainable environment by sourcing responsibly while creating sustainable alternatives for business needs".

Hemant Badri, SVP & head of supply chain at Flipkart avers,"To save the world’s ancient and endangered forests is centre & cornerstone to our inherent DNA & philosophy"

Watch: https://www.youtube.com/watch?v=TJEROzrUaKk

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This Flipkart and Myntra teaming up with Canopy can kick-start the sustainability as 'Let's not make no mistake' Flipkart represents House of Walmart 'A global retailing giant'.

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5th Aug 2021, Mumbai:

Hugo Boss CEO Daniel Grieder, a former Tommy Hilfiger executive who took over in June, said it was his goal to make the company one of the top 100 worldwide brands by 2025, with marketing expenditure expected to exceed 100 million euros.

BERLIN: Hugo Boss' new CEO set an ambitious goal for the company on Wednesday: by 2025, revenues will have doubled to 4 billion euros ($4.75 billion), with an operating profit margin of 12 percent of sales. Hugo Boss, who has been badly impacted by coronavirus lockdowns, announced a sales increase in the second quarter, especially in the United Kingdom and China.

Hugo Boss CEO Daniel Grieder, a former Tommy Hilfiger executive who took over in June, said it was his goal to make the company one of the top 100 worldwide brands by 2025, with marketing expenditure expected to exceed 100 million euros. The firm stated it will stick to its current approach of seeking to appeal to younger customers while also aiming to quadruple women's fashion sales by 2025. Hugo Boss, which is famed for its sophisticated men's suits, expects online to account for 25-30% of sales by 2025, up from around 16% today. It also intends to renovate about 80% of its stores by 2025, at a cost of around 500 million euros. Hugo Boss stock was up 1.9 percent at 0830 GMT.

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The firm said its main Boss brand suffered a currency-adjusted 5% drop in second-quarter revenue, while Hugo, geared at a younger demographic, saw a 2% increase. While sales of casual designs have continued to rise as the working-from-home trend encourages more relaxed clothing, Hugo Boss has reported a rebound in formal wear sales due to pent-up demand for business and party attire. Hugo Boss claimed sales were up 7% in the United Kingdom compared to 2019 and up 33% in mainland China, according to preliminary second-quarter figures released last month. Despite demands for a boycott of Western goods started in late March in response to Western claims of forced labor in Xinjiang, China's comeback occurred despite at least three Chinese celebrities quitting Hugo Boss in March.

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26th July 2021,Mumbai:

Japanese apparel retailer Uniqlo, made famed India debut in 2019 through the single brand FDI retail route, and made the headlines from the word go. Just to put it in quick context the company began to its online journey in India in Oct.'20 by pilot run "A strategic transitional service” code-named as 'Shop-from-Home' envisaged to offer a “360 degree e-commerce solution”. Now that pandemic is turned out to be a fundamental tailwind it is likely to contribute close to 15% or thereabouts sales contribution through next few years.

This launching of a robust e-commerce solution including the official online store and the app. is well contemplated & is within the scope of the growth trajectory, averred by the company sources. Increasingly growing affinity towards our high quality and functional 'LifeWear essentials' is only a testimony of brand gaining currency & ground in the competitive landscape. Customers are likely to be spoilt for options as more than 12,000 items and wider size options will be available through the e-commerce platform.

Watch: https://www.youtube.com/watch?v=mUca2x_4EPg

Tomohiko Sei, Chief Executive Officer, Uniqlo India, Growing acceptance for comfort, loungewear & athleisure is a demand tailwind. “Digital footprints will be synergistic to our stores., though it doesn't come at the cost of the process of continuing to expand our customer touch-points through opening of new stores wherever we get first opportunity in terms of both meeting our appropriate locations & catchment demography" 

The good news is drastic fall in overall numbers of Covid cases nationally & gathering pace of vaccination is spurring the company witnessing 'significantly better recovery trends'

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13th July 2021, Mumbai:

"April-June 2021 quarter was the darkest hour of the fiscal", admitted Raymond the leading Apparel player.

4th Aug 2021, Mumbai:

 'VS by Sehwag' Company was launched in March, 2020 by opening its 1st store in Ahemdabad & is 'A Joint Venture between Sehwag owned World of Viru P. Ltd. & Stitched Textiles Pvt. Ltd

The company is poised to launch his activewear and sportswear brand, ‘VS’ on the website www.vsshop.in. & new online store is going to house the broad range of athleisure  & cricket equipment products to complement its physical footprints in the times when there is a fundamental tailwind been experienced by all online ecommerce platforms. The entire collection of the merchandise will only be in solid colours. Each style has been launched in six colours and made with compact cotton or is cotton rich.

Company is confident that customers can also buy the product across e-commerce platforms in the next three months. The signature of the brand is its promise of connecting with forward conscious masses market by controlling & tightening supply chain as it is likely to be up with a max price range of ₹499- ₹1,099.

Watch: https://www.youtube.com/watch?v=CQ8x47YGRgY

Legendary Virender Sehwag, aims to acquire five million customers by 2026 and make it a legend brand.

 https://www.linkedin.com/feed/update/urn:li:activity:6828682502840877056

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22nd July 2021,Mumbai:

Acquisition of 'Unlimited Fashion Chain' part of Arvind Lifestyle Brands (ALBL) subsidiary of Arvind Fashions gets V-Mart to debut its inroads in untapped markets in southern and western India establishing deep and wide footprint in a jiffy.  Moreover move also gels well with V-Mart brand signature 'Cluster-based Expansion Strategy'

The consideration of this offline deal in all cash transaction as per sources is pitted at Rs.150 crore besides contingent payments of existing stores through years contingent to milestones achieved by latter as & how it pans out.

                                                       

Shailesh Chaturvedi,MD Arvind Fashions

 

Watch: https://www.youtube.com/watch?v=tdQ_9bphclE

 

What V-Mart is likely to get

Unlimited Brand 

Assets of 74 retail stores

Warehouses

Inventory

Lalit Agarwal, Chairman & Managing Director of V-Mart Retail Ltd

Arvind Fashions looks at revitalising Hi-Conviction brands in its portfolio by realising full book value for this transaction likely to be consummated through next 60 days.

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Lalit has always maintained, “.V-Mart is one of the value retail serious players in northern & eastern India and is a leading chain predominately in Tier 2, 3 cities in the fashion segment.

Given this deal, "V-Mart is now likely to operate 356 stores across 25 states with a total area of 30.8 lacs sq ft,” 

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