24 November 2023, Mumbai

Commencing today at Uniqlo stores across India, the Arigato Festival invites customers to explore new products, enjoy exclusive discounts, and bask in a welcoming in-store ambiance. Inspired by the traditional Japanese concept of Kanshasai, or Thanksgiving, the festival serves as a sincere expression of gratitude from Tomohiko Sei, CEO of Uniqlo India, to the local patrons who have warmly embraced Uniqlo and integrated LifeWear products into their daily routines.

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As part of the festivities, customers can take advantage of limited-time offers on Uniqlo's renowned 'Ultra Light Down,' 'HeatTech,' and 'Fleece' ranges until November 30. Shoppers spending over Rs 10,000 during the event will receive an exclusive stainless-steel tumbler and stand a chance to win exciting free gifts through a lucky draw.

Simultaneously, Uniqlo is unveiling its latest collaborative collection with designer Anya Hindmarch, available both in physical stores and on its e-commerce platform starting today. Crafted for the winter festive season, this collection seamlessly combines classic LifeWear styles with Hindmarch's contemporary designs, promising a perfect fusion of comfort and style for shoppers.

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21 November 2023, Mumbai

Purple Style Labs, the parent company of the luxury fashion omni-channel platform Pernia’s Pop-Up Shop, is set to expand its omnichannel presence. Presently, it owns 15 Pernia’s Studio experience centers worldwide, serving both men and women in Mumbai, Bengaluru, Hyderabad, Delhi, Kolkata, Ahmedabad, Surat, and Mayfair, London. The company is now eyeing expansion into New York, San Francisco, Los Angeles, Dubai, and Singapore, as well as cities in India such as Chennai, Chandigarh, Indore, Lucknow, and Jaipur.

With gross sales of $100 million, Purple Style Labs aims to double the figure within the next two-three years. Following this growth, the company plans to go public in FY26.

In a recent Series-D funding round, Purple Style Labs secured $8 million (approximately Rs 66.6 crore) in investments. The funding was led by Sanket Parekh of the Pidilite family office and saw participation from investors such as Signet, the family office of Harish Shah, Hira Group’s family office, Singularity Growth Opportunities Fund I, Neelesh Bhatnagar of NB Ventures, fashion designer Masaba Gupta, and former partners of Premji Invest, Rahul Garg, and Atul Gupta. The fundraising valued the company at $352 million.

Purple Style Labs is known for showcasing products from renowned labels like Tarun Tahiliani, Amit Aggarwal, Falguni Shane Peacock, Gaurav Gupta, Seema Gujral, Abhinav Mishra, and Shyamal and Bhumika. Having acquired Pernia’s Pop-Up Shop in 2018, the company has experienced over 100 per cent annual growth in the past two years, according to Abhishek Agarwal, the Founder.

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24 November 2023, Mumbai

A new report by real estate consultant Cushman & Wakefield ranks Delhi’s Khan market as the 22nd most expensive retail high street location in the world with an annual rent Rs 18,000 per sq ft. The report ranks Khan Market, Connaught Place in Delhi, Linking Road in Mumbai, Galleria Market in Gurugram and Park Street in Kolkata as the top five most expensive high streets in India.

Real-estate landscape

India’s market is witnessing growing demand for quality-grade retail malls post-pandemic, says Saurabh Shatdal, Managing Director, Capital Markets, Cushman & Wakefield India. This will result in a lot of new developments in the coming months, he adds.

Titled, “Main Streets Across the World,’’ the report ranks New York’s Fifth Avenue as the world’s most expensive retail market, followed by Milan’s Via Montenapoleone and Hong Kong’s Tsim Sha Tsui. 

The fourth and fifth ranks in the report were grabbed by New Bond Street in London and the Avenues des Champs-Elysees in Paris. Due to inflation, the ranking of the Istiklal Street in Istanbul, rose from the 31st position last year to 20th position this year.

Latest Textile Events

Menswear brand ColorPlus has expanded its retail footprint in Kerala with a new exclusive outlet in Calicut's HiLite Mall.
The store showcases ColorPlus' complete range of smart casual separates within a sleek, modern design. The open façade, illuminated in the brand's distinctive green hue, invites customers to explore the vibrant collection.
Gold and white shelves elegantly display polo shirts and jeans, while key pieces from the autumn/winter collection are highlighted in display nooks. The outlet also offers accessories such as leather belts and socks.
Established in 1993, ColorPlus specializes in men's smart casual wear, emphasizing the use of cotton and linen textiles. Acquired by Raymond in 2002, the brand, headquartered in Thane, extends its presence through physical stores, Raymond's e-commerce platform, and various multi-brand online marketplaces.

22 November 2023, Mumbai

French handbag brand, Hindbag, is set to open its new boutique in Paris.
The brand founded in 2017 by Pierre Monnier in collaboration with Swami Sivananda Memorial Institute (SSMI), a Delhi-based NGO that provides textile manufacturing jobs to unprivileged children and women.

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The company generates 20 per cent of its revenue through B2B channels. The brand’s colorful GOTS-certified cotton bags make up 80 per cent of sales. Half of its revenues are generated through 600 retail stores while the remaining 50 per cent through online sales

The brand plans to launch its maiden collection of jackets and overshirts in April besides opening several new stores. It will primarily focus on the German market where it currently has 60 resellers of its 200 retail partners.

Hindbag also aims to expand its global online sales, as France currently represents 80 per cent of its online market.

Latest Textile Events

Walmart has adjusted its net sales guidance for FY24, forecasting a range of 5 to 5.5 per cent, with adjusted earnings per share expected to fall between $6.40 and $6.48 in the same period. The delayed launch of its Indian ecommerce arm, Flipkart’s ‘Big Billion Days’ festive season this year allowed the company to enhance its consolidated gross margin. The ecommerce company’s gross margin saw a 32 basis points increase. However, the shift of Flipkart’s Big Billion Days sales from Q3 last year to Q4 this year negatively impacted overall and ecommerce sales growth.

The company reported a 3 per cent increase in international ecommerce sales, while advertising sales grew 4 per cent. Flipkart had set expectations to achieve a gross merchandise value of around Rs 33,000-36,000 crore during the festive season sale, which commenced on October 8 and concluded in November. In 2023, Flipkart conducted over half of the total festive season sales through online platforms, contributing to consistent sales growth, especially in sectors such as electronics, food, and groceries, recording double-digit growth over the previous year.

Walmart's international net sales for the year grew 5.4 per cent year-on-year to reach $26.7 billion, with strong performances reported in Mexico and China. The global advertising business experienced 20 per cent growth, with advertising sales from Walmart Connect and Sam’s Club MAP increasing 26 and 27 per cent, respectively.

The American company also recorded a significant improvement in its consolidated net income, reporting $453 million for the third quarter, compared to a loss of $1.79 billion in the same period last year. Consolidated revenue for the third quarter grew 5.2 per cent year-on-year to $160.8 billion. Adjusted earnings per share for the three months ending on October 31 were reported at $1.53.

Linen Club, the distinguished menswear and fabrics brand, expands its footprint in Telangana with an exclusive outlet in Hyderabad's Lulu Mall.
Nestled on the mall's first floor, the store boasts a curated collection of both festive and everyday attire. Shoppers can explore an array of printed and plain short-sleeve shirts, progressing to occasion wear staples as they navigate the store.
Linen Club's offerings include a spectrum of smart casual ready-to-wear, encompassing blazers, shirts, and chinos. The fabric selection caters to diverse tastes, featuring western wear suiting fabrics and opulent textiles suitable for special occasions.
Earlier this year, the brand reinforced its presence in Uttar Pradesh with a new store in Kanpur's Z Square Mall, augmenting its retail stronghold in cities like Noida, Lucknow, Varanasi, and Akbarpur.
Boasting over six decades of textile expertise, Linen Club, a part of the Aditya Birla Group, seamlessly integrates its retail prowess with an online presence through its direct-to-customer e-commerce store.

Santosh Kumar Sarangi, Director General of the Directorate General of Foreign Trade (DGFT), stated India's e-commerce exports could reach $200 billion in the next six to seven years, a significant increase from the current $1.2 billion. Speaking at the 'E-commerce Exports' conference organized by the Federation of Indian Chambers of Commerce and Industry (FICCI), Sarangi highlighted the need for changes in logistics handling, policy-making, and the approach of the Reserve Bank of India (RBI) to facilitate this growth in e-commerce exports.

He emphasized for India to achieve this ambitious target, there must be reforms in logistics and policy frameworks. He also expressed confidence that the e-commerce industry will play a pivotal role in helping India realize its broader goal of achieving $2 trillion in exports.

During the conference, Sarangi discussed the initiatives undertaken by the DGFT in collaboration with other regulatory agencies to streamline and facilitate e-commerce exports. He also underscored the importance of creating awareness among exporters to conduct e-commerce business in a fair and ethical manner.