24 July 2024, Mumbai

Zyod, a tech-driven fashion manufacturing firm founded in 2023 by AnkitJaipuria and RiteshKhandelwal, Co-Founders, is making waves in the B2B sector with its design-to-delivery services for fashion brands. Recent budget announcements have set the stage for significant advancements in manufacturing, innovation, and employment.

AnkitJaipuria highlighted the budget's focus on manufacturing and youth upskilling as a significant opportunity for the sector. He emphasized that key measures like the abolition of the angel tax and the simplification of FDI rules are expected to attract private investment, bolster India's global trade position, and foster growth in the industry.

RiteshKhandelwal echoed this optimism, emphasizing the benefits for MSMEs. He highlighted the Prime Minister's package, which includes a job creation scheme and an enhanced Credit Guarantee Scheme for MSMEs, as particularly promising. The increased Mudra loan limit and revised TReDSonboarding threshold are expected to greatly benefit small businesses. Additionally, credit support during stress periods and collateral-free loans for machinery are anticipated to drive innovation and expansion in the sector.

Zyod anticipates these initiatives will bolster the manufacturing sector, ensuring business continuity and fostering long-term growth, reinforcing India’s position in global trade.

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 24 July 2024, Mumbai

A brand renowned for its premium suiting and shirting fabrics Mistair has named Aditya Roy Kapur as its new brand ambassador. Blending timeless elegance with modern flair, Mistair offers fabrics featuring specialty weaves, finishes, and textures suitable for any formal or social occasion.

Over the years, Mistair has garnered popularity across various demographics. The brand’s identity aligns perfectly with style and youthful energy embodied by Kapoor, says Ramesh Poddar, Chairman and Managing Director of Siyaram's, Together, Mistair and Kapur aim to inspire men nationwide to embrace sophisticated style and elevate their fashion sense, he adds.

Echoing Poddar’s views, Kapur says, the brand’s new collection offers designs that exude sophistication with a touch of modern flair. It combines classic elegance with contemporary trends, making it ideal for the modern man who values both tradition and innovation.

As the new face of Mistair, Kapur's charisma and fashion sense are set to captivate audiences, further cementing Mistair's reputation for delivering the finest in fashion.

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 23 July 2024, Mumbai

Global footwear brand Toms has launched its first limited-edition collection in India in collaboration with Fizzy Goblet.

Launched with a video campaign featuring Sara Tendulkar, the collection offers Toms’ iconic footwear silhouettes that are embellished with Fizzy Goblet's signature zardozi work and resham embroidery.

Pushing the boundaries of design, the collection combines Toms’ renowned comfort technology with Fizzy Goblet’s employment of traditional artisanal technique. The collection not only celebrates style and comfort is also committed to sustainability and social impact, says Tendulkar.

The limited-edition collection will be available for purchase on Toms and Fizzy Goblet websites.

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 24 July 2024, Mumbai

Following rigorous international jury rounds at the UK, EU, APAC and India regions, Reliance Industries has announced six finalists for the R|Elan Circular Design Challenge (CDC).

The shortlisted designers include: WenyanXu, Saltless (EU); Tsang Fan Yu (APAC); Silvia Acién, Acien (UK), and Gautam Malik, Jaggery; RitwikKhanna, RKive City, and ChandiniBatra, A Blunt Story (India).

Hemant D. Sharma, Sector Head-Polyester, Reliance Industries says, the R|ElanTM Circular Design Challenge exemplifies the company’s dedication to foster innovation and circularity in the fashion industry. Through this challenge, the company continues to work towards a greener future by identifying and supporting eco-conscious designers and incentivising scalable circular solutions.

The challenge enables the firm to create a circular economy that benefits both the environment and society, adds Sharma.

JaspreetChandok, Group Vice President, Reliance Brands, avers, CDC pushes the needle on climate action by discovering and mentoring circular fashion designers and innovators, helping them scale and empowering them to drive real impact.

Launched six years ago, the Circular Design Challenge marked its first-ever global edition last year. This year’s global finalists will travel to New Delhi in October to join the India finalists for the final round of judging.

In October, the Lakmé Fashion Week x Fashion Design Council of India (FDCI) jury will select a CDC winner. The winner will receive Rs 15 lakh in funding, the CDC trophy, a six-month mentorship program, and a stand-alone showcase at Lakmé Fashion Week x FDCI in March 2025. The runner-up will also receive Rs 5 lakh in funding.

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23 July 2024, Mumbai

Key industry figures have praised the latest budget for its innovative and pragmatic measures aimed at boosting employment and economic growth. Rahul Mehta, Chief Mentor of the Clothing Manufacturers Association of India (CMAI), lauded the budget for its forward-thinking approach. He highlighted initiatives like the internship scheme, wage reimbursement for new employees, and subsidies for higher earners as significant steps towards encouraging employment.

Mehta expressed optimism that these measures would particularly benefit the labor-intensive textile and apparel industry, alongside MSMEs, due to eased bank credits and foreign investment opportunities. Import relaxations on raw materials and accessories for garment manufacturers were also welcomed for enhancing competitiveness in export markets.

Kumar Rajagopalan, CEO of the Retailers Association of India (RAI), commended the balanced focus on populist and policy measures. He noted that increased disposable income from higher personal income tax exemptions and standard deductions would drive consumption growth.

Rajagopalan emphasized the positive impact of reduced duties on gold, precious metals, and mobile phones, especially during festive seasons. The budget's commitment to skilling programs and youth employment, as well as initiatives supporting MSMEs and startups, including the abolition of the angel tax, were seen as steps towards a robust future workforce.

The Employment Linked Incentive, providing up to Rs3,000 per month for EPFO contributions per additional employee, was hailed as a beneficial move. Furthermore, the establishment of working women's hostels and creches, and the focus on urban shopping infrastructure development, were recognized as essential supports for women in the retail sector.

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23 July 2024, Mumbai

A youth fashion brand under Spain’s Inditex umbrella, Bershka is set to launch its operations in India in November this year. This would be the third label from Inditex to enter the Indian market, following the successful launches of Zara and Massimo Dutti.

The inaugural store of Bershka is slated to open at the Phoenix PalladiumMall in Mumbai. The store will be located next to an upcoming Uniqlo outlet. Bershka is set to face competition from other established brands like H&M, Forever 21, and Uniqlo, as well as Indian youth-oriented brands such as Reliance Retail’s Yousta and Tata Group’s Zudio chain.

Several global fashion and lifestyle brands, including Galeries Lafayette, Asos, Shien, Old Navy, and Foot Locker, are expected to open brick-and-mortar stores in India within the next few years. Inditex also plans to introduce Zara Home in the Indian market this year. Besides, the company plans to launch another brand Pull & Bear by 2025.

Foraying into the Indian market in 2010, Zara quickly made its presence felt by turning profitable within a year. The brand’s performance has been strong over the past decade despite a slight slowdown in the latest fiscal year with an 8 per cent sales increase.

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 24 July 2024, Mumbai

E-commerce industry leaders and experts have welcomed the announcements made in the Union Budget 2024-25, highlighting their potential to boost economic growth.

Kalyan Krishnamurthy, CEO, Flipkart Group, states, the budget will help enhance India's human and organisational capital, remove supply chain bottlenecks and support MSMEs. The reduced TDS rate will free up working capital, boosting sellers' efficiency.

DhireshBansal, CFO, Meesho, adds, the reduction in TDS rates will improve liquidity for small businesses, enhancing working capital efficiency and fostering parity between online and offline operations.

A spokesperson from Amazon India notes, combined with the Amazon Global Selling program, the reforms announced in the budget will empower Indian MSMEs to reach global markets, moving closer to their goal reaching $20 billion in e-commerce exports by 2025.

Dinesh Gulati, COO, Indiamart Intermesh adds, the new schemes and increased Mudra loan limits will provide essential financial assistance, driving the sector's growth and global competitiveness.

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23 July 2024, Mumbai

Indian cricketer HardikPandya has launched his own performance wear brand on FanCode Shop.

Launched with a unique logo and apparel range, the brand strengthens Pandya’s connections with fans and fosters a sense of community. Reflecting Pandya’s personal style and athleticism, the collection is available on the FanCode Shop.

Curated personally by Pandya, the apparel collection blends style and performance with its focus on design and material selection. Ideal for casualwear and intense workouts, the range features lightweight, breathable fabrics that ensure comfort and durability. The initial collection includes T-shirts, shorts, vests, polos, and jackets, with plans for future drops introducing new designs such as additional polos and joggers.

Pandya says, the collection symbolises his journey and resonates with today’s resilient youth. Launching the collection on the FanCode Shop enables him to share a part of his daily routine and values with fans.

YannickColaco, Co-founder, FanCode, affirms, the collection appeals not only to fitness enthusiasts and athletes but also to young fans who admire Pandya.

FanCode Shop oversees all aspects of the product experience, including manufacturing, customer care, logistics, and marketing.

With a strong track record in managing sports merchandise, FanCode Shop is an authorised partner for the ICC Men’s T20 World Cup 2024 and ICC Men’s ODI World Cup 2023, and supplies fan merchandise for teams such as Manchester City, Barcelona, Juventus, and PSG. During the IPL, it successfully managed official Mega Stores for teams like Rajasthan Royals, Gujarat Titans, Punjab Kings, Sunrisers Hyderabad, and Kolkata Knight Riders.

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22 July 2024, Mumbai

The acquisition of Metro Cash and Carry’s India operations has expanded the store network of Reliance Retail to over 200 stores across more than 180 cities.

The company added 30 new stores during the April-June quarter. It acquired Metro Cash and Carry India in late 2022 for Rs 2,850 crore. At the time, Metro Cash and Carry operated just 31 large-format stores in 21 cities.

The acquisition enables Reliance Retail to create an omnichannel offering for the B2B segment. The company previously executed the B2B operations of JioMart. It plans to continue investing in stores, platform enhancements, product design, and sourcing capabilities to further strengthen its value proposition. This will help the company sustain growth momentum in the near and medium term.

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24 July 2024, Mumbai

A renowned plus-sized fashion brand by Absolute Brands, Big Hello plans to expand its retail presence by opening new stores in Chennai and other key cities across Tamil Nadu in the coming months.

The brand recently inaugurated two new stores in Chennai. Located in the City Centre and Pondy Bazaar, these two stores offer an extensive range of clothing and accessories for plus-sized customers.

The stores feature a diverse selection of plus-sized apparel, including shirts, t-shirts, trousers, jeans, chinos, shorts, blazers, kurtas, ethnic bottom-wear, and bandh galas. In addition to clothing, they also sell accessories such as belts, tummy tuckers, scarves, ties, pocket squares, and suspenders.

ModitaTripathi, Brand Head, Absolute Brands, says, these two stores offer the brand’s customers in Chennai an easy access to Big Hello’s well-fitting, stylish, and thoughtfully designed fashionwear, allowing them to boldly express their style and individuality without compromise.

Big Hello currently operates in 18 locations across Chennai, Bengaluru, Hyderabad, Vijayawada, and Guntur. The brand also maintains a strong online presence with its e-commerce store and aims to launch 50 new stores within this financial year.

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23 July 2024, Mumbai

Menswear brand Arrow launched a new heritage-inspired clothing range titled, '1851 Heritage Collection’ at a runway show held in partnership with GQ at the St Regis in Mumbai.

Launched in collaboration with the Bollywood actor HrithikRoshan, the collection celebrates Arrow’s rich history and its commitment to excellence. It also reflectsthe brand’s dedication to careful craftsmanship and timeless style, says AnandAiyer, CEO.

The runway show featured brand ambassador Roshan took as the showstopper. During his conservation with ShaileshChaturvedi, Managing Director and CEO, Arvind Fashions, he delved on the themes of men’s fashion and style.

The fashion show also featured a host of other celebrity guests, including Taha Shah, Neha Sharma, Karan Kundra, PalakTiwari, Bhuvan Bam, Orry, AvneetKaur, and ParulGulati. Alongside the debut of its new line, the event celebrated Arrow’s brand journey in India and underscored its commitment to create innovative collections in the future.

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 22 July 2024, Mumbai

To chart a sustainable growth path, Mumbai-based fashion house Anita Dongre is focusing on profitability and strategic store management post-pandemic.

The operator of luxury brand Anita Dongre and other premium brands AND and Global Desi has closed some outlets to streamline operations, reducing its store count from 170 to 150. This includes 140 exclusive stores and 11 luxury couture stores. The closures occurred in cities like Lucknow and Raipur.

Since the last two years, the fashion house has been focusing on consolidation and profitability. It currently has fewer stores in some cities, and uses improved materials used in its clothing, says YashDongre, COO.

About two-thirds of the company’s Rs 500 crore revenue comes from the AND and Global Desi brands, with the rest from the luxury segment. Despite industry-wide demand challenges, the company targets similar revenue to last year, with ICRA forecasting revenue decline to Rs 500-550 crore in FY25 from Rs 606 crore in FY23 due to demand headwinds and inventory liquidation at discounts.

The fashion house also plans to expand its international operations. It currently has 11 Anita Dongre stores, including locations in New York and Dubai, and plans to open additional stores in these cities. The company aims to expand further into the Gulf Cooperation Council (GCC) region, targeting markets with a significant Indian diaspora.

In recent years, the fashion industry has made certain major investments including the stakes acquired by Aditya Birla Fashion and Retail (ABFRL) in Sabyasachi Mukherjee’s and TarunTahiliani’s fashion houses, and Reliance Brands acquiring a stake in Manish Malhotra’s MM Styles. Despite this trend, Dongreemphasises on their aim to remain majority owners in the fashion house.

The fashion industry saw rapid post-pandemic growth in 2022, followed by a sharp decline in 2023. The industry benefitted from ‘revenge buying in 2022, notes Dongre. However, demand dropped in 2023, leading to a discount-heavy FY24 due to excess stock. However, the fashion house aims to steer away from such discounts, addsDongre.

He believes, the company’s strategic focus on profitability, sustainable growth, and strategic expansion will help navigate the evolving retail landscape effectively.

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