16 October 2023, Mumbai

My VKC Opens First Store in Chennai
VKC Group, one of India's leading footwear manufacturers, has ventured into the Exclusive Brand Outlets (EBOs) landscape with its first store in Red Hills, Chennai. The exclusive stores will be known as 'My VKC' across the country. The inaugural My VKC outlet was unveiled by Mr. VKC Mammed Koya, Chairman, of VKC Group.
Fortifying Traditional Model and Bolstering Presence
With a deeply rooted traditional distribution network model, the company aims to pioneer a new era of accessibility and style. This significant move is aimed at fortifying the traditional model, in which its many brands are sold through multi-brand outlets while bolstering its presence in less covered areas through My VKC stores.
My VKC: A One-Stop Shop for Footwear
The first ‘My VKC’ store was launched by the ‘My VKC. My Store.’ integrated campaign led by the legend of Indian cinema, Amitabh Bachchan. My VKC store displayed and sold all the power brands from VKC, including VKC Pride, VKC Debon, GoodSpot, EEZY, #Debongo, and Ja.May.Ka.

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06 October 2023, Mumbai

The Gem & Jewellery Export Promotion Council (GJEPC), which represents Indian gem and jewellery exporters, has reaffirmed its commitment to fostering collaboration in addressing the concerns raised by the G7 regarding industry compliance.

This dedication from the industry comes after a recent visit by a high-powered delegation from G7 nations to Mumbai and Surat during the last week of September.

The delegation aimed to gain a deeper understanding of the Indian gem and jewellery sector and explore strategies for assisting it in meeting G7 compliance requirements with the least possible disruption to the sector.

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The GJEPC has stated that it is working closely with the Indian government and industry stakeholders to develop and implement a comprehensive compliance framework.

The framework will address all aspects of the gem and jewellery supply chain, from mining to manufacturing to retailing.

The GJEPC is also committed to raising awareness of G7 compliance requirements among industry members and providing them with the necessary support to achieve compliance.

Welcome step

The G7 delegation's visit to India was a positive step forward in the ongoing dialogue between the G7 and India on industry compliance.

The GJEPC's reaffirmation of its commitment to addressing G7 concerns is a welcome development. Continued collaboration between the G7, India, and the gem and jewellery industry is essential to ensuring that the sector is fully compliant with global standards.

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13 October 2023, Mumbai

Under Armour, the renowned sportswear manufacturer, continues its global expansion with the inauguration of the Brand House City Concept Evolved store in Hyderabad.
The store, strategically situated on Road No 2 in Banjara Hills, marks a significant milestone for the company's growth.

Outlines

Featuring an expansive facade and adorned with hand-painted murals paying homage to athletes, the store reflects Under Armour's commitment to hard work and excellence.
This venture follows Under Armour's initial foray into the Indian market with its store at DLF Promenade Mall in New Delhi in March 2019.
Founded in 1996 by Kevin Plank in Washington, DC, Under Armour has rapidly evolved into a global brand, with a presence in over 15,000 stores worldwide, in addition to its robust online channels.

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04 October 2023, Mumbai

Aldo, a leading global fashion footwear and accessories brand under Apparel Group, has been awarded the prestigious Superbrands status. The award was presented at a grand ceremony held on September 28, 2023, at the Intercontinental Hotel, Dubai Festival City.

Recognition

The Superbrands organization is a renowned global authority and arbiter of branding brilliance, dedicated to honoring exceptional brands and fostering the discipline of branding. The accolade is a testament to the relentless pursuit of quality, innovation, and customer satisfaction that Aldo epitomizes.

Celebrating Excellence in Branding

Neeraj Teckchandani, CEO of Apparel Group, shared his strategic perspective on the recognition, stating, "Receiving this prestigious Award is both an honor and a valuable affirmation of our strategic commitment to excellence and innovation. This recognition underscores our relentless pursuit of delivering unparalleled quality and value, reflecting the strength and resilience of our brand portfolio.

I am immensely proud of our dedicated team, whose consistent efforts enhance our brand’s reputation and strategically position us for continued growth and success in the competitive global market."

Competitive edge

This award bear witness to Aldo's exceptional ability to grow and exceed in the competitive market, reinforcing its status as a leading brand in the global fashion and lifestyle industry. The award demonstrates Aldo's unique ability to resonate with consumers, offering products and experiences that stand out in the marketplace.

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This recognition capitalizes Apparel Group's exceptional ability to nurture and grow brands in the competitive market, further solidifying their position in the global market.

06 October 2023, Mumbai

The footwear industry is expected to experience moderate growth of 7-8 percent in FY24, down from 28 percent in FY23. This is primarily due to sluggish volume growth and the absence of a substantial increase in the average selling price.

The mass segment of the industry is facing challenges, and demand is unlikely to improve significantly in the near future.

Cautious optimism; However, there is hope for a sales recovery during the festive and wedding seasons in H2 FY24.

Industry players need to closely monitor market trends and adapt their strategies to navigate these challenging times effectively. The footwear sector's performance will depend on various factors, including consumer preferences, economic conditions, and supply chain dynamics.

Strategies for Success in a Challenging Environment:

Focus on premium segments: Industry players can focus on the premium segment, which is expected to continue to perform well.

Innovate and differentiate: Companies can innovate in terms of product design, materials, and manufacturing processes to differentiate themselves from the competition.

Expand distribution channels: Companies can expand their distribution channels to reach a wider customer base. This could include investing in e-commerce, expanding into new markets, and partnering with retailers.

Control costs:

Companies can control their costs to improve profitability. This could involve streamlining operations, negotiating better deals with suppliers, and improving efficiency.

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30 September 2023, Mumbai

Lifestyle, the renowned department store chain, has unveiled its new outlet at the Phoenix Mall of Millenium in Wakad, Pune.

This store is part of the impressive lineup of 350 brands that have found their home in the recently inaugurated Mall of the Millennium by Phoenix Mills Ltd. The mall, sprawling over 16 acres with a staggering 12 lakh sq. ft. of leasable space, boasts unique attractions like a Fan Park and a 14-screen cinema.
Nuances

Phoenix Mills Ltd. collaborated with the Canada Pension Plan Investment Board ("CPP Investments") to bring this grand project to life. Shoppers can explore 15 Anchor Brands, featuring names like H&M, Marks & Spencer's, and Reliance Trends, as well as 10 mini-anchor brands including Puma and Tanishq. The mall further dazzles with 14 star brands, including Forever New and Swarovski.
Background; Lifestyle, owned by Dubai's Landmark Group, serves as a key anchor in leading malls nationwide. Recently, it celebrated the opening of its 100th store in May, with plans to establish 50 more stores in the next three to four years, expanding its retail presence in the country.

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