22 August 2024, Mumbai

The industry is divided in its reaction to Piyush Goyal's comments on e-commerce. Small retailers have largely supported Goyal’s statements, while industry bodies argue that e-commerce has actually benefited smaller retailers.

Goyal expressed concern over the rapid growth of e-commerce in India, warning of potential disruption to small retailers. He also criticized the pricing strategies of major e-commerce firms, questioning whether their reported losses indicated predatory pricing.

Some retailers have reported a significant drop in sales over the past few years, attributing it to the rise of online shopping. However, others argue that e-commerce has enabled small and medium enterprises to reach a nationwide and global customer base, without needing to invest in distribution channels .

The debate highlights the complexities of the e-commerce landscape in India, where small retailers and industry bodies have differing opinions on the impact of online shopping.

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22 August 2024, Mumbai

To celebrate the 90th anniversary of Donald Duck, Disney has launched a new collection in collaboration with Indian leading fashion retailer Pantaloons.

Merging Donald Duck’s iconic charm with modern fashion trends, this women’s apparel collection offers a fresh and playful interpretation of the beloved character.

Comprising 25 unique pieces, the collection was created in partnership with the Mumbai-based illustrator collective Doodle Mapuls. Including artists like YashShetty, Amal Nair, and KirthiPillai, the collective is known for its avant-garde approach. The distinctive artistic vision of these artists shines through in each item, capturing the spirited and fun-loving essence of Donald Duck.

SangeetaTanwani, CEO, Pantaloons, Style Up, and Marigold Lane, avers, this Disney-inspired collection is a significant milestone for the company as it merges Disney’s timeless appeal with Doodle Mapuls' avant-garde artistry for a vibrant narrative of Donald Duck and a unique interpretation of the fandom.

The collection includes trendy pieces such as crop tees, co-ord sets, spliced shirts, and jorts, all featuring unique Donald Duck designs by Doodle Mapuls. The range also offers complementary accessories, including a vibrant selection of bags, shoes, and hats.

With prices starting at Rs. 599, the collection will be available at 54 Pantaloons stores across India, as well as on the Pantaloons website and app.

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22 August 2024, Mumbai

In a world rapidly embracing the convenience of online shopping, Minister of Commerce and Industry, Piyush Goyal, has sounded a cautionary note. While acknowledging the undeniable benefits of e-commerce, Goyal has warned of the potential downsides, highlighting a future where India transforms into a nation of "couch potatoes."

Worries around online shopping

Goyal's concerns stem from the observation that the ease of online shopping, coupled with the rise of streaming services and food delivery apps, could lead to a more sedentary lifestyle. He fears that the allure of staying home and ordering everything online might discourage social interactions and physical activities, impacting the overall well-being of individuals, particularly the younger generation.

He also raised concerns about the impact of e-commerce on traditional retail sectors. He stressed the need for a balanced approach to e-commerce growth, ensuring that it doesn't come at the cost of local businesses and the jobs they provide. He highlighted the example of Switzerland, which has been cautious in allowing e-commerce to flourish, prioritizing the protection of its local businesses and economy.

These worries extend beyond the potential impact on lifestyle and local businesses. He also questioned the business practices of major e-commerce players, particularly their use of predatory pricing strategies and potential circumvention of regulations. He urged for a closer examination of these practices and their impact on small retailers and consumers.

The underlying message is a call for a more mindful and inclusive approach to e-commerce growth in India. He advocates for a model that leverages technology for efficiency and innovation while ensuring that the benefits are shared equitably across society.

Potential hurdles to e-commerce progress

While Goyal's concerns are rooted in legitimate observations, they also raise questions about the potential implications for the future of e-commerce in India. Could his vocal stance translate into policy changes or regulatory hurdles that might slow down the growth of the sector? Could his emphasis on protecting traditional retail create a less favorable environment for e-commerce companies to operate in?

It is important to acknowledge that the e-commerce industry has been a significant driver of economic growth and job creation in India. It has provided consumers with greater access to products and services, often at lower prices. It has also empowered small businesses and entrepreneurs to reach a wider audience.

Therefore, any policy decisions or regulatory changes need to strike a balance between addressing the concerns raised by Goyal and ensuring that the e-commerce sector continues to thrive and contribute to India's economic development. It is crucial to foster an environment where both traditional retail and e-commerce can coexist and complement each other, leveraging their respective strengths to serve the diverse needs of Indian consumers.

This narrative highlights the complex challenges associated with e-commerce growth in a developing country like India. It underscores the need for policymakers, businesses, and consumers to work together to create an e-commerce ecosystem that benefits everyone, fostering both economic growth and social well-being. It is a reminder that the convenience of technology should not come at the cost of our health, our communities, and our shared future.

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22 August 2024, Mumbai

From Rs 1,081 crore in 2013-14, the sales of Khadi fabrics expanded by staggering 500 per cent to reach Rs 6,496 crore in 2023-24.

In the previous fiscal year, 2022-23, the sales of Khadi fabric had amounted to Rs 5,943 crore. As per the Khadi and Village Industries Commission, (KVIC), this growth was fueled by extensive promotional initiatives that have significantly expanded Khadi's global reach, from the US and UK to Europe and Dubai.

The Indian government has launched several initiatives to establish Khadi as a global brand and boost its exports. A few of these include the registration of the Khadi trademark in five countries—Germany, the UK, Australia, Russia, and China—and efforts to prevent the misuse of the Khadi brand name internationally. Additionally, the Centre of Excellence for Khadi (CoEK) has collaborated with various Khadi institutions to develop new clothing lines featuring vibrant colors and modern silhouettes.

Employment in Khadi and village industries has also increased from 1.3 crore in FY 2013-14 to 1.87 crore in FY 2023-24 As per KVIC, sales under its supervision increased to Rs 1.5 lakh crore in the FY 2023-24, compared to ₹1.3 lakh crore the previous year. As a statutory entity under the Ministry of Micro, Small, and Medium Enterprises, the commission is tasked with promoting Khadi fabric and providing employment opportunities for rural artisans.

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22 August 2024, Mumbai

Amid positive indicators for the economy such as slowing inflation and progress of the southwest monsoon, inner wear sales are also expected to revive, affirm leading companies such as Page Industries, Aditya Birla Fashion and Retail (ABFRL) , Arvind Fashions and Rupa & Co.

Consumption of inner wear, including men's underwear has been on a revival since June 2024.The sales of Page industries rebound as demand revived and the company recorded an improved inventory health at its distribution hubs. Ganesh VS, Managing Directorsays, the rise in ecommerce operations and digital platforms have expanded the company’s market reach, enabling it to connect with the consumers more effectively.

Inner wear sales have remained stagnant for over six quarters now, along with a slowdown in overall apparel demand. However,, the inner wear category at Arvind Fashion is growing at double digits, faster than overall sales at the company. The revenues of Rupa& CO also grew by 8 per cent in the April-June period while its sales volume rose by 9 per cent.

The innerwear business of ABFRL grew at robust rate last quarter while the company’s athleisure segment continued to shrink due to the high base of the COVID period when multiple new brands had entered the segment due to a sudden surge in demand.

Apart from the men's underwear index, other macro indicators also point toward a recovery. Inflation based on the Consumer Price Index (CPI) reached its lowest in five years to 3.54 per cent though this was partly due to the base effect. As per the Reserve Bank of India (RBI), India’s economy is projected to grow by 7.2 per cent in FY25.

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21 August 2024, Mumbai

Founded in 1925, Raymond, is name synonymous with quality and style in India. It is not merely a brand, but a testament to resilience, innovation, and strategic vision. With a rich legacy spanning nearly a century, Raymond has consistently adapted to changing times, establishing a formidable presence not only in India but also on the global stage. From its humble beginnings as a textile manufacturer to its evolution into a diversified conglomerate encompassing lifestyle, engineering, and real estate, Raymond's journey is a saga of transformation and growth.

A seven-year turnaround plan

The COVID-19 pandemic posed significant challenges for Raymond, as it did for businesses across the globe. Store closures and economic uncertainty led to a decline in sales and a rise in debt. However, Gautam Singhania and his team responded with a clear and decisive strategy: a seven-year turnaround plan focused on debt reduction, business optimization, and strategic growth.

The plan involved divesting non-core businesses, such as the FMCG division, and using the proceeds to reduce debt. Raymond also acquired Maini Precision Products (MPPL) to expand its engineering capabilities and launched multiple real estate projects. These efforts have paid off. The company's stock price has surged, and its balance sheet is now healthier than ever. Raymond is now poised to enter the next phase of its growth journey, with a renewed focus on expansion and innovation.

Expansion in lifestyle

Raymond's lifestyle business, which will soon be listed as a separate company, Raymond Lifestyle, is a key growth driver. The company sees great potential in manufacturing garments for the Western market and is in the middle of an expansion that will increase its annual manufacturing capacity from just under 8 million to 11 million garments.

Raymond is also focusing on expanding its store footprint, adding new categories like men's innerwear and sleepwear, and relying on its core suiting fabrics business. The company plans to open 500 stores in the next three years, including multi-brand retail outlets.

Brand Ethnix rdefining ethnic menswear

One of big initiatives in Raymond's lifestyle portfolio is Ethnix by Raymond, an occasion/ceremonial menswear brand. Launched in 2017, Ethnix has quickly become a success, driven by the growing trend of wearing Indian ethnic wear on special occasions. The brand offers a wide range of ethnic wear for men, including kurtas, sherwanis, and suits. It has also expanded into casual ethnic wear with its 'Smart Ethnix' range, which features short kurtas, linen trousers, and parallel trousers.

Ethnix is planning an aggressive expansion in the coming years, with plans to open 300+ stores in the next two years. The brand is also working on building a robust omnichannel strategy to increase the contribution of revenue from online channels. As per Bidyut Bhanjdeo, Chief Business Officer of Ethnix the key trends driving the growth of the ethnic menswear market are:

• Increasing popularity of Indian ethnic wear for occasions and celebrations.

• The shift from unorganized to organized players in the market.

• The expansion of branded stores in Tier II, III cities.

Meanwhile, the engineering business has been revitalized with the acquisition of Maini Precision Products. The company's product range has doubled with the addition of new categories and Raymond is looking to scale the aerospace and defense businesses, which have been placed under a separate company within the engineering business. Real estate business is also poised for growth. Raymond will amortize its 100-acre Thane land parcel by 2032-33. The remaining 60 acres should be sufficient to build about 7 million sq. ft. of saleable real estate, resulting in revenue of Rs 16,000-18,000 crore over the next 7-8 years. Raymond has also entered into joint development agreements in Mumbai to diversify its real estate business beyond its captive land parcel. The company is exploring expansion into Pune under the same model.

Raymond's future goals are clear: to create shareholder value, grow its businesses, and focus on innovation. The plans include expanding its manufacturing capacity, store footprint, and product categories in the lifestyle segment. The company will also focus on building its omnichannel capabilities. Scaling its engineering business. Growing its real estate business and focusing on innovation with new product offerings, designs, and silhouettes. The company will also focus on incorporating sustainable fabrics into its products.

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22 August 2024, Mumbai

Blackberrys, a leading Indian menswear brand, has partnered with e-commerce giant Myntra to broaden its market presence. This strategic collaboration aims to take Blackberrys' expertly crafted menswear beyond its 380+ exclusive stores and direct-to-consumer website, Blackberrys.com, to millions of online shoppers across India.

Through this alliance, all Blackberrys collections, including Suits & Blazers, Dress Line Trousers, India Fit Shirts, and its TechPro and TempTech ranges, will now be available on Myntra. The brand also offers casual wear, footwear, and accessories, catering to the evolving fashion preferences of Indian men.

Nitin Mohan, Co-Founder and Director of Blackberrys, emphasized the importance of the partnership, noting that Myntra's wide reach and advanced technology will enable the brand to connect with a larger audience and improve their shopping experience.

Blackberrys has been a pioneer in the Indian menswear industry since 1991, introducing innovations like wrinkle-free khakis and dress-line trousers. The brand's TechPro and TempTech collections emphasize style and functionality, catering to all-weather comfort and smart-dry, wrinkle-resistant fabrics.

Myntra's CBO, Sharon Pais, expressed enthusiasm about the collaboration, reinforcing Myntra's commitment to offering premium menswear collections to its discerning customers.

This partnership marks a new chapter for Blackberrys, leveraging Myntra's technological expertise to cater to the growing demand among millennials and Gen Z consumers. The Indian menswear market is expected to grow at a CAGR of 7.7 per cent from 2024 to 2032.

22 August 2024, Mumbai

Vedant Fashions has unveiled a new joint store for two of its ethnicwear brands, Manyavar and Mohey in Pune. Launched to coincide with the upcoming wedding season, the store situated in Nexus Malls’ shopping center, The Pavillion, offers a wide range of ethnic and occasion wear for both men and women.

The addition of this joint store boosts the wedding and occasion wear offerings available at the Pavillion. By expanding its selection of wedding attire ahead of the marriage season, The Pavillion aims to attract more visitors and boost sales during this peak period for retailers.

Actively expanding their joint store presence, Manyavar and Mohey also opened a large outlet in Bengaluru in July. Additionally, the brands recently launched their seventh joint store in the US, in Fremont, California.

The parent company of these two ethnic wear brands-Vedant Fashions operates a portfolio of ethnic wear brands, including Mebav, Twamev, and Manthan. The company is present in over 600 brick and mortar stores across India and internationally, including in the US, Canada, UK, and UAE.

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21 August 2024, Mumbai

One of India's oldest and most prestigious textile retail chains with a 110-year legacy, Seematti has introduced the country’s first Artificial Intelligence (AI)-based fashion brand ambassador.

Named Isha Ravi, the AI fashion model now represents Seematti in the Indian fashion industry. Portrayed as a young woman with a passion for colors and travel, Ravi embodies independence and a keen sense of fashion.

Marking a unique convergence of technology and fashion, Seematti’s initiative showcases the potential of AI in enhancing the shopping experience. The company plans to keep customers informed about new AI-driven features that will further elevate their shopping experience.

Particularly renowned for its bridal collections, Seematti offers an extensive range of traditional and contemporary sareescatering to the diverse preferences of Indian women. Under the visionary leadership of BeenaKannan, the granddaughter of Seematti's founder, the brand offers the BeenaKannan Couture featuring a luxurious collection of wedding couture designed for the modern bride. Another brand under the Seematti umbrella, Seematti Young offers trendy youthwear that perfectly combines style and comfort.

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22 August 2024, Mumbai

A prominent player in the India’s hosiery and knitwear sector, Dollar Industries plans to expand its reach by opening 50 exclusive brand outlets in South India over the next two to three years.. The company’s ongoing investments in expansion and new product launches align with its Vision 2025, which aims to solidify its position as a market leader both domestically and internationally.

Founded in 1972, Dollar Industries has emerged as a prominent player in the Indian hosiery and knitwear sector. Holding an impressive 15 per cent market share, the company has become a cornerstone of textile exports, contributing significantly to the nation’s economic fabric.

With a strong presence in 28 states across India and robust sales in the Middle East, including the UAE, Oman, Jordan, and other key regions, Dollar Industries stands as a leading Indian innerwear brand with a growing international footprint.

The company has set its sights on further global expansion. Its foray into the Dubai Free Trade Zone enhances its logistics capabilities, allowing for faster shipping times and closer customer connectivity. This strategic move is part of Dollar Industries’ broader vision of becoming a dominant global player in the hosiery market.

The Indian innerwear industry has seen robust growth in recent years, expanding from Rs.15,870 crore in 2017 to a projected Rs.68,270 crore by 2024, with a consistent CAGR of 12 per cent. This sector constitutes 9 per cent of India’s fashion retail market and is divided into men’s and women’s segments, with the latter contributing 60 per cent to the overall market. The growth drivers include the rising number of working women, changing fashion trends, and increased disposable incomes. While the domestic market is flourishing, the global market presents untapped potential, with significant projected growth in both men’s and women’s segments.

The Indian athleisure industry is similarly on an upward trajectory, driven by evolving fashion preferences, rising incomes, and a growing focus on health and fitness. Currently valued at Rs.726.62 billion, the market is expected to reach Rs.997.8 billion by 2024-end, growing with a CAGR of 13.59 per cent. The industry offers vast opportunities for entrepreneurs, although challenges like sourcing sustainable fabrics persist. The focus on sustainability and innovation is expected to shape the future of this rapidly expanding market.

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22 August 2024, Mumbai

Making its runway debut, designer Shubh Goyal’s apparel brand, Fierce London will launch its new collection, Fierce Ascendancy,’ on Sep 14, 2024 during London Fashion Week.

A fusion of luxury and streetwear, Fierce Ascendancy combines the elements of high fashion with bold, assertive designs. The collection caters to the modern forerunners of luxury who embrace their inner fierceness, break boundaries, and accept themselves fully. It merges cutting-edge craftsmanship with the brand’s core values.

Inspired by the ‘resilience and strength symbolised by leather and the mystique of an all-black palette, the collection reflects the brand's aim to challenge conventional perceptions of streetwear by infusing it with elements of luxury and high fashion.

With its participation in the London Fashion Week, Fierce London aims to not only establish itself within the global fashion community but also connect with industry leaders and influencers while reaching a broader audience. The brand also plans to explore more collaborations with designers and artists in future to expand its product range.

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21 August 2024, Mumbai

Two renowned fashion brands, Ekaya and 431-88 have joined forces to launch a new ready-to-wear collection for the festive season. ReimaginingBanarasi textiles with a contemporary twist, the collection offers stylish garments including pre-draped handloom sarees, vibrant co-ord sets, chic blazers, kurtas, etc.

Both Ekaya and 431-88 are known for their distinct brand identities. Led by ShwetaKapur, 431-88is celebrated for its modern, sensual, and feminine designs tailored for the contemporary woman. On the other hand, Ekaya Banaras, with a rich 120-year legacy spanning four generations, is synonymous with exquisite Banarasi craftsmanship. Merging the best of both the world, this collaboration combines 431-88’s focus on comfort and ease with Ekaya’s mastery of traditional textiles.

Bringing her vision of creating iconic silhouettes to this collection, Palak Shah, Founder, Ekaya Banaras, introduces pre-draped sarees with inspired by natural elements such as flowers, water waves, and earthy textures, striking a balance between delicate and bold aesthetics.

With the collection making these pieces more accessible to the younger generation, the designers hope to inspire a renewed appreciation for cultural heritage and encourage people to reconnect with their roots.

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