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Trent posts consolidated net loss of Rs 71.8 crore

Trent posted a consolidated net loss of Rs 71.6 crore in Q2 September 2020 compared with a net profit of Rs 18.6 crore in Q2 September 2019.

Its net sales declined by 31.5 per cent to to Rs 585.38 crore during the quarter as various restrictions continued to apply at the local level including store closure requirements during weekends.

Trent's recorded a pre-tax loss of Rs 102.86 crore in Q2 September 2020 compared with pre-tax profit of Rs 38.40 crore registered in the same quarter last year. It received a tax rebate of Rs 24.29 crore.

Trent operates Westside, one of India's leading chains of fashion retail stores, Trent Hypermarket which operates in the competitive food, grocery and daily needs segment under the Star banner, Landmark Stores, a family entertainment format store & Zudio which is a one shop destination to get fashion at great value. Westside has 166 stores measuring 8,000-34,000 sq. ft. across 88 cities.

IIFW concludes virtual edition successfully

India’s largest and fashion week, Intimate Fashion Week (IIFW) successfully concluded its 4th season virtually on October 23, 2020. The show received global volunteer participation by the models, associations and partnerships from various countries. This year, IIFW partnered with Le Desir by SHOTS, Netherlands famous lingerie brand as its official lingerie partner. Le Desir showcased it’s one of a kind, sensuously beautiful, latest lingerie line during the event, this year. Known for its innovative approach, IIFW has always presented concepts that imply strong social message and is all inclusive from plus size fashion, queer fashion, fitness fashion. It has also initiated dialogues around body positivity by its BOO THE TABOO movement.

This year, IIFW’s various teams worked extensively over several zoom meetings and reached out to a stunning and diverse mix of women globally. The teams faced many challenges in shaping up this projects as many models had to back out from their participation commitments due to worrying COVID situations, smaller homes, absence of right merchandise, shortage of make-up & hair related things and cosmetics, sickness and also because some models caught COVID and the show took more than expected time to complete. But finally, they could present an outstanding virtual product. IIFW Show Director Snehal Oswal, Stylist Dhanashree Sawant hosted countless Training & Grooming Sessions with the models and prepared them not only for the walks and posing but she spent a lot of time motivating them and building confidence back.

Nike cuts workforce in India

Nike is consolidating its India operations by laying off a chunk of its already diminishing workforce in the country. The brand has also shelved plans to open a back office in Bengaluru. Signaling the diminishing importance of Indian market for the brand, Nike had earlier shut 35 per cent India stores in 2016, following it up by reducing the number of stores to around 150 or lower in 2019. During the same period, the company had also let go of a significant number of employees, while absorbing some in Southeast Asia operations.

Henceforth, New Delhi-based SSIPL, which runs Nike stores in India, will play a bigger role for the company. Unlike other global sportswear companies, Nike did not localize its products for India, as a result it found it difficult to cut losses in the market.

Arvind targets double-digit growth in upcoming quarters

Arvind has aims to achieve double digit growth in third and fourth quarters this fiscal. The company aims to clear at least Rs 100 crore of its debt in the third quarter, says a CNBC TV18 report. Arvind saw some sequential recovery in second quarters as its revenues t declined by 33 per cent while its profit margins declined to 9.3 per cent. The company also witnessed significant reduction in its debt during the quarter.

Arvind is a textile manufacturer and the flagship company of the Lalbhai Group. Headquartered in Naroda, Ahmedabad it has units at Santej. The company manufactures cotton shirting, denim, knits and bottom weight fabrics. It has also recently ventured into technical textiles when it started Advanced Materials Division in 2011. It is India's largest denim manufacturer.

Flipkart strengthens fashion portfolio with investment in USPL

The Flipkart Group has strengthened its fashion portfolio by making a strategic investment in USPL-the premium youth-focused fashion brand house. This investment will allow Flipkart to work closely with the USPL team to deepen product offerings on its platforms.

A Series F funding, this investment will step-up USPL’s online strategy by strengthening its existing long-standing engagement with the Flipkart Group. It will help USPL and the Flipkart Group find deeper synergies as it continues to grow its ecosystem of partnerships that deliver value for consumers and brands.

As Anjana Reddy, Founder and CEO, USPL explains the last few months have provided a great opportunity for the company to consolidate its market leadership among homegrown brands catering to the youth and expand its market share.

During the time when the world is moving towards omni-channel retailing, USPL has significantly strengthened its online strategy by working with Flipkart and Myntra, the two prominent players in the Indian online fashion spaced.

Arpita Mehta’s flagship store unveils new collection

Designers Arpita Mehta has unveiled her new collection ‘Meadaura’ at the first flagship store launched. The collection features feminine, glittering traditional occasion wear with a number of fusion wear styles such as jacket dresses as well. The opulent designs are displayed on wooden poles in the spacious, brightly lit store. The collection also recently launched on Mehta’s dedicated e-commerce store.

Located in Khar, Mumbai Mehta’s first flagship store creates the ambience of a rural mansion. The store has been designed by architect Ravi Vazirani to be a minimalist take on classic luxury. The building’s terrazzo tiled flooring reflects the designers’ memories of summer and its dust pink hued IPS façade was inspired by Mehta’s holidays on the island of Mykonos. Rugs and couches spread throughout the store give a homely feel and the paired down furnishings are designed to keep the focus on the garments themselves.

Elahe launches menswear brands on e-store

Multi-brand luxury Indian women’s wear retailer Elahe has launched a curated selection of brands on its dedicated e-commerce store for the festive season. Elahe features menswear brands including Sabyasachi, Divyam Mehta, Rohit Gandhi + Rahul Khanna, Rajesh Pratap Singh, Anushree Reddy, Son of a Noble, Mahima Mahajan, and Rahul Mishra, etc on its e-store. The selection focuses on traditional and occasion wear with a quite fusion wear styles.

Elahe has also re-started in-store events with social distancing measures in place. From October 21 to 22, Elahe hosted Aneeth Arora’s sustainable womenswear brand Pero to present its autumn/ winter collection ‘Disco’ at its store in Hyderabad. Elahe also recently hosted a curated Navratri festive fashion exhibition in its stores featuring color coded occasion wear looks.

Elahe launches menswear brands on e-store

Titan opens first Tanishq store in Dubai

Indian luxury goods company Titan has opened its first international store for its jewelry brand Tanishq in Dubai. A part of the company’s expansion plan outside India, the 2,000 sq ft store will cater to international customers and NRI communities in the UAE. It will house a range of gold and diamond jewelry. The 2,000 sq-ft store is located in Meena Bazaar and will house a range of gold and diamond jewelry.

The store was inaugurated by Ahmed Albanna, UAE Ambassador to India and Aman Puri, Counsel General of India to Dubai and Northern Emirates. The brand also launched an exclusive website for Dubai showcasing its collections.

Titan is one of the leading players in the jewellery, eyewear, and watches segment with over 1,800 stores nationally for all its brands. The jewellery division recorded an income of Rs 3,446 crore ($463.2 million) for the July-September quarter.

Gur Organics launches festive collection from recycled materials

Designer and entrepreneur Pernia Qureshi’s sustainable womens wear brand Gur Organics has launched a festive collection ‘Fiza’ featuring garments made from recycled materials and eco-friendly fabrics. In this collection, the brand has also incorporated a new range of recycled materials for its embellishments. It has used bio-degradable textiles made from white rose, banana, eucalyptus, aloe, and orange with youthful silhouettes and a feminine aesthetic.

The collection features several glittery details to give it an occasion wear touch including hand embroidered pieces of recycled mirrors and recycled sequins. The details add a touch of the opulent, glittering aesthetic Qureshi displays in her other women’s wear brand.

The collection also caters to shoppers who spend more time at home with its range of kaftans and loose dresses designed for longing at home or attending intimate festive events.

Gue Organics is also currently working with milk fabric which can be blended with other fibers including silk, is organic, and is biodegradable.

Raw Mango to host eight other brands at New Delhi store

For its socially distanced ‘Diwali’ shopping festival from November 06 to 08, sustainable fashion brand Raw Mango plans to host eight other brands at its store in New Delhi

The upcoming event will feature Raw Mango’s new festive collection “Moomal’ which recently debuted at Lakme Fashion Week digital. The nostalgic collection features vintage aesthetics and bright, luxurious textiles. Sustainable clothing brands Bodice, Péro, and Itoh will also retail their latest collections at the event.

Inde will present its latest jewellery collection and other offerings will include Khadi woolen Durries by Gongadi, skincare and wellness products by Pahadi Local, glassware and candles by Good Earth, and chaat and mithai snacks by Bhawan.

Throughout the lockdown and ongoing international restrictions, Raw Mango has held a number of country-specific online exhibitions in lieu of its regular pop-up shops. The brand is promoting festive collection Moomal in international markets with an online exhibition for customers in the UAE and Canada until November 5.

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