25 April 2022, Mumbai:

To capture the huge market opportunity offered by the innerwear segment, Reliance Retail made its third acquisition in the women’s innerwear space in March this year.

The company acquired an 89 percent stake in online lingerie retailer Clovia, almost two years after it acquired stakes in Zivame and Amante.

Through this acquisition Reliance Retail aims to fix the price point discrepancies in the market.

ALSO READ Clovia: A new dimension to business

Women’s innerwear to reach $8.5 billion in FY25

As per a Wazir Advisors’ report, the women’s innerwear segment is estimated to grow from $4.4 billion to $8.5 billion in FY25. It is the fastest-growing segment in the women’s apparel market, and is superseded by only ethnic wear in terms of market size, adds the report.

Reliance Retail sells women’s innerwear products catering to all income groups.

The retailer sells all types of brands starting from the ‘mass-market ones like ‘Hush’ to premium brands like Marks & Spencer.

It’s all three acquisitions viz. Clovia, Zivame and Amante, cater to different income groups. Amante sells more premium products while Clovia offers one of the most affordable ranges of lingerie.

RELEVANT NEWS Reliance Retail Ventures acquires equity stake in Clovia

Reliance Retail has been selling innerwear mainly through fashion e-commerce portals in India. The company organizes sale events like the ‘Grand Lingerie Festival’ to boost sales.

This quarter, Reliance Retail’s sales of Zivame lingerie reached such great heights it had to extend its products to mini Reliance Retail outlets -- Ajio, Avantra by Trends and Smart stores.

Lingerie companies focus on online portals Clovia forays into new Tier II and III markets

More than just brands, lingerie companies are focusing on acquiring online portals as offline brands are unable to increase revenues after a certain point, says Ramesh Agarwala, Chief Financial Officer, and Executive Director, Rupa & Co.

RELEVANT NEWS RRVL acquires majority stake in lingerie brand Clovia

Offline brands mainly lack proper distribution facilities, adds Agarwala. They are also unable to display their entire product range in the limited space offered by offline stores. Hence, online is the best way to sell women’s innerwear, he adds.

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16 April 2022, Mumbai:

Womenswear and accessories brand MoonRay plans to hold a pop-up shop on April 23 at the Hyatt Regency in New Delhi held in collaboration with the shopping events business.

ALSO READ MoonRay launches new footwear range

The Sorbet Soiree, the pop-up shop will showcaseMoonRay’ssustainable range of women’s ready-to-wear as well as vegan footwear, gold-plated jewellery, and quirky bags and accessories in Delhi.

The business-to-customer shopping fair will also feature a range of other up-and-coming fashion, accessories, and jewellery brands from across India.

RELATED NEWS High footwear prices compelling buyers to defer purchases: Walkaroo International

Other participating labels will include Embellish, Oro by J, Adwita, Kpret, GayatriNargis, Ninie, Label Manasi, Rabi, and Moirra among others.

This will be MoonRay’s second pop-up since its launch in December 2021, following a shopping event it held in Bengaluru earlier this month.

The brand also recently launched its Spring/ Summer 2022 collection which mixes western and traditional influences with a fresh color palette.

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CREDITS: Fashion Network report.

Growing acceptance of unique body shapes seems to be taking the steam out of the Indian shapewear market. Reports indicate, the shapewear market in India is on a decline with people no longer wishing to ‘correct themselves’.

Rise in individualistic apparel styles

Studies show, consumers no longer care about others opinion of their body shapes, their clothes and popular trends. They are more confident of their body type, and are look beyond the normal standards of beauty, says Soumya Tandon, Model. Also, consumers no longer cling to traditional toxic beauty standards and are open to buying clothes made for different body types, explains actor Shreya Navile. This is leading to the introduction of many individualistic styles in the market.

Setting new beauty standards

As against its earlier perception of beauty, where perfection equaled to a slim body, a fair face and sharp features, the fashion industry now is reinventing beauty standards as it looks for new faces and bodies. Tired of being inspired by unrealistic and unhealthy body aspirations, the Indian fashion industry now aims to set its goals around consumers with identifiable body shape, adds Navile.

Inculcating body positivity in early years

However, the industry needs to adopt an adequate approach to resolve body issues. It needs to encourage schools and homes to inculcate body positivity amongst young Indians in their formative years.

Rapid urbanization is driving the lingerie market in India with the sector looking to double growth to $12 billion by 2025. The sector is likely to emerge one of the fastest growing fashion segments in India with six times faster growth than in 2020, says a RedSeer Consulting Group report.

Focus shifts to comfort

Projected to grow at 13.13 per cent CAGR from 2022-27, Indian lingerie market is facing several disruptions and transformations due to the pandemic. Lingerie shopping has majorly shifted to online platforms with customers focusing on comfort rather than style. As Siddharth Grover, Director, Groversons Group says, women are experimenting with new designs, fabrics, colors, etc. To cater to these evolving tastes, the brand published a new report listing evolving lingerie shopping trends in India. The report is based on research by Groversons Paris Beauty and Groversons Group.

Summer-inspired lingerie to dominate future growth

The report says, current transformation promises a new growth trajectory for lingerie market in India. Future growth is expected to be dominated by a demand for summer-friendly lingerie in vibrant and attractive colors. Neon-colored lingerie and sexy lace bralettes in different shades will make their presence felt in the market with 67.45 per cent customers opting for these styles. Preference will be for good quality and skin friendly fabrics.

Emerging design trends

Lingerie brands are transforming basic cotton bras in black, white, and nude colors into padded, push-up, and lacy bras in different designs and color combinations. They are also experimenting with new lingerie designs in striking flora and fauna tones, animal print, and designs depicting aquatic life. New earth-inspired designs are also being launched to celebrate nature’s beauty.

Young Indian professionals are pairing latest style bras with everyday attire. They are adopting lingerie that is high on both comfort and style. Around 60.78 per cent women said, they are looking for a good-style lingerie collection to make them feel more confident both professionally and personally.

Embracing inclusivity with plus size lingerie and shapewear

Rapid urbanization is leading to the emergence of new lingerie trends in India. New and established brands are launching plus-size collections for busty women. The plus size lingerie market is growing at a robust pace and is expected to grow 30 to 40 per cent in coming years. Another emerging trend is shapewear that enables women to flaunt their figure.

Rise in activewear lingerie

An increasing number of women are opting for activewear bras for workouts and dancing. Activewear lingerie with mesh detailing for added support is also becoming popular with women.

With passing times, lingerie is gaining more prominence in women’s shopping lists in India. Women are demanding premium quality lingerie which brands are catering to with innovations in colors, styles, designs, etc.

15 April 2022, Mumbai:

A one-stop show for apparel manufacturers, the CMAI Fabrics, Accessories, and Beyond (FAB) show was aimed at providing total supply chain solutions under one roof.

Organized from April 11 to 13, 2022 at the Jio World Trade Centre, Mumbai, the show spread over 10,000 sq. mt. featured 250 manufacturers and suppliers of fabrics and accessories, machinery, washing units, packaging units, embroiderers, printers, real estate, and apparel park developers, and software developers.

ALSO READ Covid19 made apparel brands & consumers price conscious

They showcased products and services for the garment industry. Over 12000 garment manufacturers, exporters, retailers with private labels, and traders visited the show over three days.

The show also saw international visitors from eight countries.

In a unique display of collaboration, the show was supported by two of the biggest associations in the fabric supply chain –Fabexa from Ahmedabad, and SGCCI from Surat.

A subsidiary of the Maskati Cloth Market Mahajan, FABEXA participated with nearly 50 members while the South Gujarat Chamber of Commerce and Industry (SGCI) saw the participation of over 45 members from Surat.

RELATED NEWS CMAI Fab Show from April 11-13

Talking about the show, Rahul Mehta, Chief Mentor, CMAI said, “The idea for the show began with a casual discussion within the CMAI committee about the problems garment manufacturers face in trying to locate the right kind of sourcing on various fronts mainly fabrics, accessories, washing units, machinery, and packaging, etc.

We thought it would be a good idea to get everything under one roof.”

Need for more suppliers highlighted

A highlight of the show was the Think Out of the Box Section which included four seminars on topics ranging from Consumer Trends, Technological Developments, and the Global Fashion Landscape. Speakers from across the world including Bangladesh Turkey and the Netherlands participated in the show inaugurated by Darshana Jardosh, Minister of State for Textiles. Jardosh urged the entire textile value chain to work in collaboration with each other to expand across the globe.

The industry also needs to increase the number of suppliers in the value chain, Jardosh added.

India’s cotton prices are almost equal to the world market, Jardosh said. As per the government’s vision, farmers are earning good income from cotton yield. They plan to increase production next year as returns from the crop increase.

Domestic and international presence recorded

Garment sourcing has become as important as garment marketing and manufacturing, affirmed Navin Sainani, CMAI, Chairman Fair Committee for The FAB Show. The show offered one-stop sourcing solutions to all garment manufacturers in India, he added.

The show featured 55 manufacturers of cotton garments from Ahmedabad, 45 manufacturers of MMF fabrics from Surat, a few knitting mills like Arvind, top accessories manufacturers, and traders from Mumbai.

RELATED NEWS CMAI applauds Union Budget 2021-22

It was attended by over 12,000 visitors within a span of three days. International buyers from eight countries, one international participant, and international speakers also attended the show.

Mehta said, “The show is an unqualified success. We are hoping to at least double, this will probably be twice a year.

The venue will depend upon the dates available.” From the next edition, it will be a bi-annual event with the number of visitors expected to double from this year.

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14 April 2022, Mumbai:

Recovery in apparel demand has exceeded pre-COVID levels in the lifestyle space, says Amit Agarwal, Chief Financial Officer, Raymond.

The average retail prices of apparel have increased from Rs 3,200-3,300 to Rs 3,700-3,800, he adds.

ALSO READ January retail sales restricted to 91 per cent of pre-pandemic levels: RAI

Average apparel prices across stores and exclusive brand outlets (EBOs) have surged almost 20 percent, he adds. Prices of Raymond apparels have also increased. Average expenditure in the wedding industry has increased by 15-25 percent he adds.

Kumar Rajagopalan, CEO, of Retailers Association of India (RAI), affirms, that apparel demand has surged by 12 percent compared to pre-pandemic levels.

RELATED NEWS Retailers across India on an expansion drive as sales surpass pre-COVID levels

The value segment is witnessing a stiff margin pressure while the luxury segment is witnessing a resurgence as marriages are happening and people are once again travelling to places, he adds.

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24 February 2022, Mumbai:

E-commerce startup Meesho added 4 lakh sellers and 15 million entrepreneurs in 2021. Of these, 9 million were women entrepreneurs, notes Utkrista Kumar, Head-Business.

Around 70 percent of new entrepreneurs added in 2021, came from Tier II and III markets. The company has adopted a 0 percent commission structure for sellers to realize the maximum value of the products they sell.

This has enabled sellers to sell at lower prices on the platform and also bag more orders.

ALSO READ: Meesho digitized 4 lakh vendors

In the last six months, Meesho launched five new categories including sports and fitness, health and wellness, pet supplies, office stationeries, and automated accessories.

The company’s sports, fitness, health, and wellness categories have grown over seven times since its launch. The demand for pets and supplies category has also increased significantly, adds Kumar.

Meesho now plans to enter new categories such as food and beverages, musical instruments, games, industrial supplies, agriculture and farming hobbies, and collectibles.

It also aims to increase its seller base to 100 million monthly by December 2022.

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18 April 2022, Mumbai:

It's boom time for landlords across malls and high streets as, after a two-year hiatus, rental rates are again increasing by almost 15-25 percent.

Mall operators expect rental collections to reach pre-COVID levels in 2022-23, says Yogeshwar Sharma, CEO, of Select Citywalk, one of the most popular malls in New Delhi.

In fact, encouraged by the response, some mall owners even plan to increase rentals by 5 percent every year instead of a combined 15 percent after three years, he adds.

ALSO READ DLF Mall of India launches two-week 'Wedding Shopping Festival'

During the last two years, retailers saved nearly 20 percent of their annual lease due to rent concessions offered by mall owners. However, with retail sales outpacing pre-COVID levels, they expect rentals to surge again.

The operator of several malls in the NCR, DLF Retail has already increased rents by 15 percent. In the case of lease renewals, rents have been increased by 20 percent while for new tenants they have been increased by 25 percent, says Pushpa Bector, Executive Director.

RELATED NEWS As retail limitations reappear, retailers are resuming rent negotiations with malls

Retailers plan expansion to ease margin pressures

For retailers, rents form almost 10 to 15 percent of their monthly sales. High rentals compel them to make maximum utilization of retail spaces. Now, with rents expected to rise again, they expect profit margins to come under pressure.

To resolve this, retailers plan to expand their product categories. This also enables them to control price hikes in offerings. With a dip in COVID cases, retailers expect growth in the March quarter to reach double-digits. They also expect to expand their retail spaces after almost two years.

RELATED NEWS Post Covid World: Malls Rent Hike Is A Reality

Leasing to soar past COVID-levels

For retailers, apart from rentals, prices of fuel and other raw materials have surged significantly, affecting overall costs.

Yet, many do not plan to increase product prices as it would affect current consumption, and trends, explains Devarajan Iyer, CEO, of Lifestyle International. Real estate investment firm CBRE expects leasing in India to soar past pre-COVID levels to 5.1 million sq. ft. this year.

This could also boost new store openings by around 25 percent in 2022 compared to the previous year, indicates the firm’s report ‘Real Estate Market Outlook 2022 – India’.

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The crackdown on capitalist powers in China has led to brands shifting their attention to India as ideal investment destination. Over the last few years, India has been slowly rising as a global superpower. The country remained relatively unaffected by the pandemic on account of its long-term economic growth and stock market potential. By 2024, India’s stock market is likely to become the fifth largest in the world. As per Goldman Sachs, the value of its stock market will grow to over $5 trillion by that period.

Indian brands speed up digital transformation

However, domestic luxury industry fails to take advantage of India’s rapid transformation, says a Jing Daily report. A few heritage brands like Louis Vuitton, Hermès and Gucci have managed to increase profits and sales. However, others have been unable to achieve similar results. For example, Hermès International-India reported a 55-per cent increase in net profit during the fiscal year 2019. Meanwhile, Christian Dior Trading India reported a net loss of Rs 26.7 crore during the period.

During the pandemic, luxury brands had to speed up their digital transformation to sustain growth. Homegrown e-commerce portals helped these luxury brands reach smaller towns, says Abhay Gupta, Founder and CEO, Luxury Connect. Trends like distance selling, video-assisted sales, and WhatsApp sales helped them brands boost growth during the period.

Growing number of Ultra HNI

The luxury goods industry in India also benefited from the projected rise of new billionaires in the country. Currently, India has 6,884 Ultra High Net Worth Individuals and the number is expected to rise 63 per cent to 11,198 by 2025. As per Knight Frank’s Wealth Report, India’s billionaires are also projected to grow by 43 per cent from 113 in 2020 to 162 by 2025.

A paper published in the Journal of Customer Behavior shows, India’s luxury market offers multiple opportunities for growth. However, the market is unlikely to replace the US and China in immediate future due to smaller size. The market is expected to be worth $8.5 billion in 2022, predicts Euromonitor International.