27 May 2022, Mumbai:

Direct-to-consumer footwear brand Chupps has raised $1.5 million (Rs 11 crore) in pre-series A round led by Green Frontier Capital to expand operations

As per a Fashion Network report, the funding round was attended by GunavanthVaid from 4G Capital, KaushalVora from Genesis Packaging, SwanandKelkar from Breakout Capital Advisors and GauravMathrawala from Mathsons Re-insurance Brokers

The funds will be used to increase penetration, expand into new markets, and develop high-quality, fashionable, and sustainable products.

GauravAgarwal, Co-founder, Chuppssays, the new funding from GFC will open-up many additional investment avenues in future since many funds are looking to invest in sustainable ventures such as ours.”

SandiipBhammer, Managing Partner, Green Frontier Capital adds, Chupps is building a made-in-India brand with a global potential which its consumers will not only feel good about using today – because of their styling, comfort, or performance – but one which even future generations would relate to and appreciate.”

ALSO READ  Footwear brand Chupps raises funds

Chupps was founded in March 2021 by GauravAgarwal and YashMukhi. The brand’s products are currently sold through its website and online channels such as Myntra and Amazon, along with kiosks in malls, and departmental stores across India.

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23 May 2022, Mumbai:

The portfolio of men's luxury brandsgrew by 46 per cent in 2021 compared to the pre-pandemic year of 2019, while that of women’s luxury brands grew by only 14 per cent, shows the 2022 edition of Atlas of Affluence (AOA), a white paper on luxury brand from Reliance Brands (RBL).

ALSO READ Menswear becomes more vibrant in India with rise of homegrown labels

Fifty-seven percent of men claimed that their fashion spending has increased.

Sixty-five percent of non-metro residents buy luxury on a regular basis versus 53 percent in metros and 52 percent of respondents keep celebrity endorsements and influencers in the top two ranks for key drivers behind brand affinity, said AOA 2022 created by *The Voice of Fashion (TVOF) -- a division of RBL, a daily digital magazine that tracks and leads conversations on Indian fashion, design, crafts, and retail.

Moreover, 65 per cent of those shopping online mention that they are eagerly waiting for stores to open, said the findings of AOA 2022.

Fifty-eight per cent agree that they have spent more on tech products to curate a futuristic entertainment experience while being stuck at home," it said.

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The findings are based on a specially commissioned study across six cities and markets of India.

The study was formulated over the last several months through scientifically designed consumer research to understand metro and non-metro differences among buyers, brands and behavioral ideas behind consumption.

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CREDITS:*The Voice of Fashion (TVOF) 

17 May 2022, Mumbai:

A collaboration between the Lakme Fashion Week and the Fashion Design Council of India, the FDCI X Lakmé Fashion Week (LFW) will organize its next edition from October 12-16, 2022 in Mumbai.

The fashion event held its first edition in New Delhi in March 2022 as opposed to its traditional location Mumbai, keeping in mind safety measures and regulations.

ALSO READ FDCI x Lakme Fashion Week: R-Elan brought sustainable fashion

Sunil Sethi, Chairman, FDCI says, the event gave designers an opportunity to showcase their creativity, up close and personal with the audience.

Sumati Mattu, Head-Innovations, Lakmé adds, that the March 2022 physical edition showcased Lakmé, RISE, and FDCI’s grit and determination to help the beauty and fashion community navigate through the new normal, and put their best foot forward.

RELEVANT NEWS Lakmé Fashion Week x FDCI: Update On 23-27 March, Edition

Jaspreet Chandok, Head of RISE Fashion & Lifestyle affirms, that the team received tremendous appreciation and support for the physical edition of the FDCI X Lakmé Fashion Week in March in New Delhi.

In its upcoming Mumbai edition, it aims to bring together the best of the physical and digital worlds and give various stakeholders across the fashion community a world-class platform to showcase their creativity.

27 May 2022, Mumbai:

Robust sales helped Bata India’s consolidated net profit growth over two-fold to Rs 62.96 crore during the fourth quarter ended March 31, 2022.

The company had posted a net profit of Rs 29.47 crore in the January-March quarter a year ago.

ALSO READ  Bata India looks to faster recovery

Revenues from operations grew 12.77 percent to Rs 665.24 crore during the fourth quarter as against Rs 589.90 crore in the corresponding quarter of 2020-21.

The company continued to expand its franchise & MBO operations, consumer-relevant communication, portfolio casualization, and digital footprint operations.

This helped it increase footfalls across outlets and revenues from the expansion of e-commerce and physical retail operations.

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Bata India's total expenses increased 6.29 percent to Rs 599.39 crore during Q4/FY 2021-22, as against Rs 563.90 crore in the January-March quarter of the previous fiscal.

For the fiscal ended March 2022, Bata India's consolidated net profit increased to Rs 102.99 crore from a net loss of Rs 89.31 crore in the fiscal year 2020-21.

Its revenue from operations surged by 39.75 percent to Rs 2,387.71 crore in 2021-22 from Rs 1,708.48 crore in the year-ago period.

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21 May 2022, Mumbai:

Streetwear brand No Grey Area has launched AgniApaas, a new range of androgynous layered looks with abstract prints inspired by climate change.

No Grey Area has created a series of painterly prints depicting fire, water, carbon emissions, and other aspects of global warming to create a thoughtful and boldly conceptual clothing line.

ALSO READ Raymond: (VIBEZ) 'A story in Prints'

The collection AgniApaas is an amalgamation of abstract expressionism and surrealism, in its purest form to the point of simplicity.

The line features traditional craft techniques including Kantha and Zardozi embroidery and hand-stitched details.

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Shot by NishanthRadhakrishnan, the brand’s new campaign for the line juxtaposes the futuristic garments with traditional urban settings to create an atmosphere of quiet reflection.

The collection marries the concepts of the bhootas ‘Agni’ and ‘Apaas’ to illustrate the global issue of climate change, says ArnavMalhotra, Creative Director. The brand retails from its dedicated e-commerce store.

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14 May 2022, Mumbai:

The net profit of Relaxo Footwears declined by 38.40 percent to Rs 62.93 crore in Q4FY’22. The brand had posted a net profit of Rs 102.17 crore in the January-March quarter of the preceding fiscal.

ALSO READ Relaxo Footwear Q3 FY22 results reported

The brand’s revenues from operations declined by 6.61 percent to Rs 698.19 crore during the period under review as against Rs 747.68 crore in the corresponding period of the previous fiscal.

Its total expenses increased marginally by 0.43 percent to Rs 619.66 crore against Rs 616.96 crore a year ago.

RELEVANT NEWS Relaxo Footwear’s Q2 results posted

For the entire financial year ended on March 31, 2022, Relaxo Foot wears' net profit declined by 20.19 percent to Rs 232.68 crore. It had reported a net profit of Rs 291.56 crore in 2020-21.

Its revenues from operations grew by 12.46 percent to Rs 2,653.27 crore in 2021-22.

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19 May 2022, Mumbai:

Sustainable womenswear brand Anavilla plans to launch a new Khadi collection ‘Quiet’ in three cities:, Bengaluru, Hyderabad, and Chennai.

The collection will be launched in Bengaluru from May 20 to 21.

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Anavila has teamed up with Indian fashion and lifestyle brand Good Earth for the event and will hold it at Good Earth’s store in the metro.

From May 23 to 24, Anavila will launch the handloom collection in Hyderabad and finally, the collection will be launched at Good Earth’s store in Chennai from May 25 to 26.

Quiet was created in collaboration with artisan weavers and natural dye specialists who sustainably rendered its designs.

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Anavilla was incepted in India in 2011 after a short stint abroad.

The brand launched its first linen sari after considerable thought and perseverance with various clusters and artisans.

The brand has been constantly evolving in the last few years, while firmly holding on to its core values of creating comfort through innovation and design working closely with artisanal clusters.

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25 May 2022, Mumbai:

Footwear retail chain Metro Brands has launched its first FitFlop store in Chennai.

The retailer had entered into a strategic partnership with UK-based lifestyle and wellness footwear brand FitFlop early this year.

ALSO READ Metro Brands launches new athlesiure range

*As per a Uni India report, the Indian footwear distributor will now exclusively retail and distribute FitFlop footwear in India across various platforms and channels.

Metro Brands will leverage its extensive retail and distribution network across India, its strong online presence, as well as its diverse brand experience to build FitFlop in India.

RELEVANT NEWS Metro Brands signs strategic partnership deal with footwear brand 'FlipFlop'

The company will set up a FitFlop web shop in India besides making the FitFlop collection available on online marketplaces.

FitFlop is currently available across 130 plus multi-brand outlets, including 110 Metro and Mochi stores as well as online portals and on Myntra.

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CREDITS: *A UNI India Report.

18 May 2022, Mumbai:

The outlook for wearables in India remains strong in the current year with users from Tier II and III cities becoming attracted to it, says Upasana Joshi, *Research Manager, IDC India.

In Q1 FY’22 India’s wearable shipments grew 20.1 percent Y-o-Y to 13.9 million units.

ALSO READ India’s wearables market to be more sophisticated in 2021: IDC India

Second quarter growth too is expected to remain healthy due to continuing push from brands. Aggressive offers, sales, and marketing around the festive season in the second half of the fiscal (July-December) are expected to continue growth momentum through the year for wearable device categories, explains Joshi.

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The average selling price (ASP) of overall category declined 17.1 per cent Y-o-Y during the quarter primarily due to strong drop in ASP of watches. Consumers are being encouraged to spend more on wearables through aggressive discounts, new features, and a strong push from brands and channel partners, says Anisha Dumbre, Senior Market Analyst, Client Devices, IDC India.

The performance-linked incentive scheme is encouraging key players in the sector to venture into local manufacturing and launch ‘Made in India’ products, further lowering their selling price, adds Joshi.

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CREDITS: IDC India (The news article has not been edited by DFU Publications staff).

12 May 2022, Mumbai:

Bollywood actor DeepikaPadukone has been signed by French luxury fashion house Louis Vuitton as their house ambassador.

Padukone has become the fashion house’s first Indian house ambassador in its 167-year history.

ALSO READ Louis Vuitton: France production to bolster

The announcement also comes at a time when Louis Vuitton’s biggest outlet in India — at 7,376 square feet — is reportedly on the anvil in a mall for high-end luxury goods built by Reliance.

Louis Vuitton currently operates via three stores in India — in New Delhi, Mumbai and Bengaluru.

According to data accessed by *Toefler, Louis Vuitton India Retail's operating revenues range is Rs 100 crore to Rs500 crore for the financial year ending on 31 March, 2021.

According to the *Hurun India Wealth Report 2021, Louis Vuitton is the most preferred luxury goods brand among these households, followed by Gucci and Burberry.

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India is home to one of the fastest growing affluent households in the world and hence, the next decade presents a meaningful opportunity for luxury brands and service providers to enter/ further strengthen presence in India, says AnasRahmanJunaid, MangingDirector and Chief Researcher, Hurun India.

According to a *EuroMonitor report, 2022’s summer holiday period could be a huge growth opportunity for luxury goods in India depending on the threat level of the pandemic, given the emergence of a new variant of COVID-19 towards the end of 2021.

Padukone has been named a member of the jury of this year’s 75th Cannes Film Festival. In 2018, Time Magazine named Padukone as one of their “100 Most Influential People”. She was also recently awarded the TIME 100 Impact Award for her contribution to the field of film and entertainment.

Louis Vuitton is owned by Moët Hennessy Louis Vuitton, commonly known as LVMH — a French holding multinational corporation and conglomerate specialising in luxury goods.

It had a valuation of $329 billion in 2021 and is one of the most valuable companies in Europe. Its chairman and CEO, Bernard Arnault, together with his family, is the second-richest person in the world — with a net worth of $140.1 billion.

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CREDITS: As per a Toefler, Euromonitor & Harun Wealth report.