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Myntra launches new virtual mall feature

Flipkart-owned fashion marketplace Myntra has launched a new virtual mall feature on its app to give brands prominent display for an additional fee. This app offers apparel and accessories brands an offline official store experience on the marketplace as malls continue to receive low footfall amid the pandemic. About 30 brands including Hennes & Mauritz, Decathlon, Puma, Max and Mothercare have signed up for the online mall.

Myntra states, the virtual mall was a pre-pandemic plan accelerated now to strengthen its market position. The fashion marketplace is targeting brand-conscious customers who can now directly navigate to their selected brands, shop for new arrivals, latest collections and interact with customized interface like in a physical mall. The pilot for the new feature was launched a few weeks ago when the platform learnt that one-third of the search terms on the app had a brand name in them.

Myntra will also hold its End Of Reason (EORS) in the third week of December. In its first edition of EORS in June, Myntra had noted 86 per cent increase in the number of customers from Tier II and III cities, indicating a shift in consumer behavior and preference for online shopping amid the lockdown.

Sabyasachi reopens flagship stores for private appointments

Luxury traditional wear brand Sabyasachi has reopened its flagship stores in Delhi, Mumbai, Hyderabad, and Kolkata for private appointments. The brand has launched in-person on-appointment visits at five of its flagship stores in India with strict social distancing measures. These stores will sell the brand’s new bridal collection which offers a contemporary take on the classic bridal lehenga using handwoven silk matka and featuring embellished, embroidered borders. Lehengas in this collection are paired with Benarasi dupattas and the brand’s signature Kanthi blouse in textured silk.

The stores will also feature textiles with custom hand painted and print artwork by the Sabyasachi Art Foundation and a range of handbags. Sabyasachi Mukherjee is an Indian fashion designer, jewellery designer,retailer and couturier from Kolkata,India. Since 1999, he has sold designer merchandise using the label Sabyasachi. Mukherjee is one of the Associate Designer Members of Fashion Design Council of India and the youngest board member of the National Museum of Indian Cinema. He has designed costumes for Bollywood films such as Guzaarish, Baabul, Laaga Chunari Mein Daag, Raavan, and English Vinglish.

Cotton procurement by CAI firms up prices in wholesale mandis

Procurement by Cotton Corporation of India (CCI) has helped firm up cotton prices in wholesale mandis. As per an Indian Express report, wholesale prices are now between Rs 5,300 and Rs 5,400 per quintal with trade sources not ruling out further price rise fueled by export demand.

Recently, CAI revised its earlier export estimates for the cotton marketing year (October to September 2020-21) to 54 lakh bales of 170 kg each from the previous 60 lakh bales.

But some traders said exports might cross 65 lakh bales given the demand in international markets, especially in Bangladesh. Indian cotton at present has a price advantage in international markets with the Indian candy (346 kg of ginned combed cotton lint) selling at Rs 40,000 per candy, as compared to Rs 41,000 per candy from other major cotton producers in the world.

Pradeep Kumar Jain, Founder Chairman, Khandesh Cotton Gin/Press Owners and Traders Development Association, majority of buying at present is by government agencies as private buyers are finding it difficult to get buyers given the slowdown in textile sector.

While Indian cotton is enjoying a rare price parity in international markets, Jain said favorable tail winds like demand from other countries or further increase in international price would see a price rise in domestic markets.

The Black Lover launches new collection

E-commerce platform, The Black Lover has launched a new collection for individuals who are fixated on the color Black. The platform offers everything from T-shirts to dresses in black. It also offers an attractive range of printed black T-shirts for everyday leisurewear needs. The black polos have been exclusively designed for a smart and casual look just like it’s all-cotton black shirt

Black Lover also offers an exciting and fresh range of athletic apparel for both men and women, with a fusion of black and pink, blue, green, and grey. It soon plans to launch personalized outfits on its customers birthdays Simultaneously, its Black Store section has an exciting scope for coffee mugs, backpacks, caps, and wallets for millennials. The black cushions, stools, and the Buddha effigy can establish the pace in home decor as black has the versatility to fuse into its environment.

Through these efforts, The Black Lover is trying to create a difference in the world of the underprivileged. The brand has an upcoming segment- Angels of my Nation- the profits of which will be handed over to the various NGOs featured on the website.

Kontoor Brands ropes in Ace Turtle as India license partner

US-based Kontoor Brands has signed up e-commerce enabler Ace Turtle its India license partner for Lee and Wrangler denim brands. As per this license, Ace Turtle will have the right to manufacture products for both Lee and Wrangler to sell them in India. The company will adopt a omni-channel strategy for both the brands.

Bengaluru-based Ace Turtle handles end-to-end e-commerce solutions for many brands including Lifestyle, Tommy Hilfiger, Calvin Klein, Micheal Kors, Emporio Armani, etc. The company is now getting into retailing of any brand after taking over the India rights from Kontoor.

Lee and Wrangler started in India in a licensing deal with Ahmedabad-based Arvind Mills more than a decade ago and then converted the partnership into a joint venture with Arvind. Last year, VF spun off Lee, Wrangler and Rock & Republic labels and Kontoor became an independent and publicly traded company.

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Kontoor Brands ropes in Ace Turtle as India license partner

Amazon India to host SBD 2020 on December 12

E-commerce major Amazon India will host the fourth edition of its Small Business Day (SBD) 2020 on December 12.

As per a Fashion Network report, the SBD event is aimed at supporting small businesses and help to accelerate their business growth. The one-day event will see participation by start-ups, women entrepreneurs, weavers, local shops, and more. Amazon India is currently hosting ‘All India Handicrafts Week 2020’ on its platform which will continue till December 14 to support indigenously produced handicrafts from different parts of the country.

Amazon India has faced recent criticism from the Confederation of All India Traders (CAIT) for allegedly violating foreign direct investment norms in the country.

However, Amazon has denied all such allegations and continues to organise a host of online events to win the support of businesses/sellers across India.

Puneesh Lamba joins Shahi Exports as Chief Technology Officer

Puneesh Lamba, former Group CIO, CK Birla group has joined Shahi Exports as their Chief Technology Officer for all businesses in the Group.

As per an Economic Times report, in his new role, Lamba will be responsible for the company’s digital transformation and technology driven innovation for business growth. Other than managing technology for organizational growth, he will focus on leveraging digital capabilities and new age technologies to enhance productivity and experience for customers and employees.

Prior to joining Shahi Exports, Lamba has served a stint of 5 years at CK Birla Group as their Group CIO where he has led digital and IT transformation strategy for all group companies. Apart from his graduation from CR State college of Engineering, he has been able to learn business management and leadership from global institutions such as Harvard Business School, IIM-A, Kellogg School of Management and Dale Carnegie.

He is a seasoned IT professional with over 27 years of experience in IT management, deploying tech strategies for business growth and innovation with digital transformation. In his overall career he has led IT & Digital of several global companies such as BILT, Punj Loyd, GE Capital, and others

Bata India expects growth to resume by Q1FY22

Footwear major Bata India expects growth to take off by the end of Q1FY22 as consumer spending picks up. The brand halted expansion of company-owned and company-operated stores in large cities. However, it has expanded the franchisee model into smaller towns.

Sandeep Kataria, Global CEO, Bata Brands says, the company will continue to up its ante through digital initiatives. It has ramped up digitally –assisted shopping and catalogue-based selling. Bata has also reached out to consumers by going to residential societies and doorsteps with offerings. It has also ramped up technology across its own website besides boosting presence across e-tailing sites such as Amazon and Flipkart.

Future Group’s senior executives quit company

As Future Group gears up for a new ownership under Reliance Retail, some of the group’s long-term senior executives have quit the company. Media reports suggest, last month Vineet Jain, CEO-North quit after 17 years with the company. He joined value retailer V-Mart Retail as the new chief operating officer. Jain’s southern counterpart Venkateswar Kumar, also resigned. He is a Future Group veteran with more than 15 years with the company. Aruni Mishra, business head for general merchandise at Big Bazaar, quit Future Group last month.

The departures of senior executives are happening amid a case filed by Amazon in the Singapore International Arbitration Centre challenging the sell-off of Future Group's assets to Reliance. Amazon.com NV Investment Holdings LLC had accused Future Coupons – the promoter entity of Future Retail in which Amazon owns 49 per cent stake – of breaching of a contract signed between the promoter company and the US giant.

In August, Reliance announced it would acquire the nation’s second largest retail enterprise, Future Group, for Rs 24,713 crore in a deal that would give it control over more than a third of India’s $80 billion annual organized retailing business.

Early winter onset spikes thermal wear sales

The early onset of winter has introduced cheer to the country’s Rs 3,000-crore thermal wear industry as gross sales of apparels priced within the Rs 300-400 value are on a rise

Winter has boosted demand for funds thermal wear in states together with Delhi, Bihar, Uttar Pradesh, Haryana, Punjab and Himachal Pradesh. However, demand for modern thermal wear, which is often priced above Rs 500, has dipped with individuals turning cautious with spending amid the pandemic.

Sanjay Jain, Managing Director, TT Ltd., stated the financial uncertainty created by the pandemic has stored individuals away from something which is trendy and is priced a bit greater. According to him, only budget thermal wear is selling.

Another class clocking greater numbers in contrast with final year is that of funds woolen merchandise. Several producers of woolen sweaters and cardigans from Ludhiana stated gross sales of low-priced merchandise have elevated.

Amandeep Singh Chawla, Proprietor, Rosy Fashions, stated products worth Rs 400–600 are selling more with sales being higher than last year.

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