08 April 2023, Mumbai 

Soch, the popular ethnic wear brand, has opened its first store in Jaipur, located on Ashok Marg. The store spans across 1,340 square feet, marking a significant milestone for the brand and its expansion plans in Rajasthan.

The opening of the Jaipur store will provide fashion-conscious women with access to the latest Spring Summer '23 collection, which boasts a vast range of styles, including salwar suits, dresses, gowns, kurti sets, sarees, kaftans, and more. The collection is available in vibrant colors and beautiful silhouettes that cater to every woman's ethnic and occasion wear needs.

Soch has 155 exclusive stores across 60 cities, the brand plans to expand into Tier II and III markets while enhancing its presence in the existing markets. The brand's traditional strongholds have been the South and West, and it aims to boost growth in the North and East of India.

Ethnic wear market in India is expected to grow at a CAGR of over 8% during 2021-2025, driven by factors such as rising disposable incomes, changing fashion trends, and increasing awareness of traditional clothing, according to a report by Technavio.

Apart from its brick-and-mortar stores, Soch has also been expanding its online presence.

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 04 April 2023, Mumbai

Man-made fibers are a favorite choice amongst Indian weavers and spinners and it is expected that in the short term, the market will be driven by demand for viscose fiber from the fashion apparel sector. Analysts feel although the growth of synthetic fibers, in general, may hamper market expansion of viscose fibers in particular, there will be more future market opportunities from the growing usage of these fibers in the medical sector. However, the Asia-Pacific region is still strong in the man-made thread market and is also estimated to record the fastest CAGR over the next few years.

VSF and VFY demand is expected to rise soon

According to a recent insight report by the CCF Group- a leading consultancy and data provider group in China -the January-February beginning of 2023 has not been very promising for Indian markets as the export performance of VSF, VFY, and rayon yarn has been rather unsatisfactory. Export of VSF was only 35.4kt which was a year-on-year decrease of 37.52 per cent that hit new lows since 2017, while the export of VFY was 13.6kt, which was a 8 per cent year-on-year decrease than the same period in 2021 at 15.5 per cent.

Export of rayon single yarn was around 15.5kt, a year-on-year decrease of 16.6 per cent, and falling 44.4 per cent compared with the same period in 2021. Export of polyester/rayon yarn was 6.778kt, a year-on-year decrease of 16 per cent . Analysts remain unsure whether it is a short-term or a long-term trend, as these low export figures don’t look optimistic even in March, it remains to be seen whether the major viscose consumer markets will warm up after Ramadan after a sharp decline in exports. In a post-Covid unstable market, recent problems such as the earthquake in Turkey, foreign exchange tension in Pakistan and Ramadan in India have all negatively affected the viscose market.

However, the increase in the trade volume of polyester products is a little more than that of viscose products. Lower consumption levels in all links of the end-user market to the upper sections of the industrial chain, using a lower grade of raw materials to bring down costs and ensure profit margins of manufacturers and the gradual maturing of the weaving and dyeing industry in Southeast Asian countries, have all affected the viscose and man-made fiber market.

Rise in cotton prices increased viscose use in garments

According to Textile Value Chain (TVC), viscose staple fiber imports into India have increased significantly in previous years. With prices of cotton having reached an all-time high in April 2022, garment manufacturers moved away from cotton and towards viscose, causing imports to soar to a new high last year. All through the 11 months of January-November 2022, India imported 93.071 million kg of viscose worth $221.348 million and viscose imports also surged in value and volume by more than 50 per cent. Indonesia was the main provider while accounting for 29.57 per cent of the total imports, followed by Austria, Hong Kong, China and Singapore as the main five suppliers.

Even though India has a tiny 4-5 per cent market share in the textile industry globally, it is still the second largest employment segment with over 35.22 lakh handloom workers. Within the textile sector, man-made fibre market is slowly becoming an emerging sub-section, especially in the rise in demand for technical and medical textiles in post-covid times. With the high prices of cotton, many weavers and spinners have started blending man-made fibres with cotton and other raw materials to stay cost competitive.

Moreover since cotton growth is dependent on geographical factors such as weather conditions and crop yields, fibres such as viscose and polyester are great alternatives to spinners in lull periods. They are also extremely flexible and durable and can endure high-tech machinery with multiple uses in apparel manufacturing due to having hydrophobic properties.

As Indian small-scale spinning and weaving industries benefit from the world’s shift away from China, it is time for man-made fiber production to be pushed to the top of the export basket, with a sophisticated end-to-end supply chain and government help in this segment.

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27 March 2023, Mumbai 

Pantaloons, a department store chain owned by the Aditya Birla Group, has opened two new stores this week in India. The first store was opened in Kumbakonam, Tamil Nadu, and the second store was opened in Jabalpur, Madhya Pradesh. The Jabalpur store is the 15th store in Madhya Pradesh for Pantaloons.

In addition to its expanding physical presence, Pantaloons has also been strengthening its e-commerce offerings. The company launched its own e-commerce platform and it has since been growing. The platform offers a wide range of products, including clothing, footwear, accessories, and cosmetics.

Pantaloons has also been investing heavily in technology to enhance the shopping experience for its customers. In 2019, the company introduced a "Scan & Go" feature on its mobile app, allowing customers to scan the barcodes of products they want to purchase and pay for them without having to go through a checkout line. The company has also been using artificial intelligence and machine learning to analyze customer data and provide personalized recommendations.

Pantaloons is a unit of Aditya Birla Fashion and Retail Ltd. (ABFRL), which acquired it from the Future Group in May 2015. The department store chain offers over 100 licensed and international brands at its outlets, including its exclusive in-house brands for men, women, and children. Pantaloons currently operates over 344 stores across more than 170 towns and cities in India.

Looking ahead, Pantaloons is expected to continue expanding its physical and digital footprint in India, as the country's rapidly growing middle-class fuels demand for affordable and fashionable clothing. The company is well positioned to capitalize on this trend, with its strong brand portfolio, extensive retail network, and focus on innovation and customer satisfaction.

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08 April 2023, Mumbai 

Nexus Malls, the Indian retail portfolio arm of Blackstone Group, is reportedly in talks to acquire all six malls owned by Virtuous Retail South Asia, a joint venture between Singapore’s Xander Group and Dutch investor APG.

The deal, which also includes two under-construction malls in Mumbai and Delhi, is expected to be worth about Rs 3,500-4,000crore. The rebound of the Indian retail sector following Covid-19 is driving increased demand for well-managed retail spaces in both tier I and tier II cities. The consolidation of leased assets is becoming a trend, as more international funds seek secure returns from real estate assets such as malls.

The move comes as Blackstone prepares for India’s first retail real estate investment trust (REIT), which is set to be listed by June this year with a valuation of around $3 billion, including Blackstone-Nexus and Select City malls.

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 30 March 2023, Mumbai 

Latin Quarters, a popular fashion brand, has recently announced its plan to expand its retail presence in South India by opening a new standalone store in Bengaluru's Mantri Square Mall.

The store will cover an area of 800 square feet and boast of a visually appealing design, incorporating the latest interior design trends, lighting fixtures, and color schemes.

This move is part of the brand's growth strategy in the region, which already boasts of a retail network of 20 independent stores across India and over 300 sales points in major cities. Apart from the new standalone store, Latin Quarters has been making strides in expanding its retail presence across India. In 2021, the brand opened its largest flagship store in Mumbai's Phoenix Market City, spanning 2,000 square feet.

The new standalone store will feature the latest Spring'23 Collection, #HuesOfSpring, inspired by the different hues of the spring season. The brand takes pride in curating collections that elevate the style quotient of women, empowering them to be their real selves, across age groups, while keeping in mind international silhouettes and designs. With its focus on offering affordable, trendy apparel and accessories that cater to the diverse needs of Indian women, Latin Quarters is poised to continue its growth in the fashion industry both within India and internationally.

The brand has also made a name for itself in the international fashion scene, with its designs being featured in London Fashion Week and showcased in the United States.

The collection is available at other LFR such as Shoppers Stop, Lifestyle, and Pantaloons.

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24 March 2023, Mumbai

Indian retail chains are planning to reduce their discounts to pre-Covid levels, according to industry executives. Aditya Birla Fashion and Retail has already brought discounts back to pre-Covid levels and aims to reduce them further. Other retailers, such as Lifestyle International, have also reported reductions in discounts across categories, although some brands with high inventory levels still offer high levels of discounts.

The reduction in discounts is expected to improve retailers' margins at a time when fixed costs such as rentals are increasing. The recovery in demand and sales growth over the last two to three quarters has led to the decision to dial back discounts.

The Covid-19 pandemic had a significant impact on the retail industry in India, with many retailers offering higher discounts to clear out inventory and maintain cash flow. However, as the economy has started to recover and demand for products has increased, retailers are now looking to reduce discounts and improve their profit margins.

The reduction in discounts may also be a reflection of the changing consumer behavior in India. As the country becomes more affluent, consumers are becoming more discerning and are willing to pay a premium for quality products and services.

This trend is reflected in the rise of premium retail brands in the country, as well as the growth of e-commerce platforms that offer premium products and services.

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06 April 2023, Mumbai

Reliance Trends, the popular Indian lifestyle brand, has expanded its retail presence with the launch of a new outlet in Vaikom, Kottayam district, Kerala.

The 11,099 sq. ft. store is the brand's third outlet in the town and boasts a modern and trendy ambiance. The store offers a wide range of good quality and fashionable merchandise that caters to the consumers of the region, at affordable prices that provide high value for money.

What all you need to know

The launch of the new outlet in Vaikom is part of Reliance Trends' ongoing expansion strategy to tap into the growing fashion retail market in India. The brand's success can be attributed to its ability to offer affordable fashion to consumers across different regions of the country.

Reliance Trends has managed to expand its retail footprint to over 1,000 cities and towns across India in less than two decades. The brand has been successful in democratizing fashion in India, by strengthening its reach and connecting with consumers in metros, mini-metros, tier 1 and 2 towns, and beyond.

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29 March 2023, Mumbai 

Male consumers in India spent 36% more than their female counterparts in their last online shopping transaction, according to a survey report by the Indian Institute of Management Ahmedabad (IIMA).

The report, titled 'Digital Retail Platforms and Consumer Emotions: An Indian Perspective', also revealed that consumers in smaller cities (tier II to tier IV) spent up to 77% more than those in tier 1 cities, and that fashion, clothing, and electronics were the main product categories for online purchases.

The report also highlighted that consumers visit multiple websites before making a purchase, with browsing becoming a favorite pastime for many. The study indicated that online shopping has become a popular activity for consumers, with one-third of consumers reported visiting digital retail platforms every two to three days, and an average shopping time of 34 to 35 minutes.

The report also revealed that 72% of consumers started shopping online in the last one to three years, indicating a surge during the COVID-19 pandemic.

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 23 March 2023, Mumbai 

Avantra by Trends, a popular concept store chain by Reliance Retail, has announced the opening of its third store in Kerala at Palakkad.

The store is located at Kenathuparambu, Sultanpet and will offer customers a wide range of ethnic wear and accessories. The brand first entered the Kerala market in August 2022 with its retail store at Oberon Mall in Kochi, which is spread across 5,000 sq. ft. Avantra's second outlet in Kerala is situated at Kayamkulam in Alappuzha. With the opening of the Palakkad store, the brand is further expanding its presence in Kerala.

Avantra by Trends is rapidly expanding its footprint across India, with recent expansions in Karnataka, where it has opened four stores, one each at Bellary, Bijapur, Nagarbhavi and Shivaji Nagar.

Launched in September 2021, Avantra by Trends initially started as a women's ethnic wear concept store in Bengaluru. Today, Avantra by Trends is present in nine states across India, including Karnataka, Tamilnadu, Telangana, Andhra Pradesh, Kerala, Orrisa, West Bengal, Assam, and Uttar Pradesh. The brand has become known for its unique and fashionable ethnic wear collections, exceptional customer service, and affordable prices.

The brand's expansion plans are expected to continue in the coming years, as Avantra by Trends aims to become one of the leading ethnic wear retailers in India.

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05 April 2023, Mumbai

Recent research suggests that Indian apparel brands are poised to tap into the lucrative UAE market by offering high-quality products that cater to the diverse fashion preferences of local consumers. Indian companies are finding a receptive audience in the UAE's diverse and growing consumer base across multiple industries.

This trend has been further supported by the strengthening of trade relations between India and the UAE through the Indo-UAE Comprehensive Economic Partnership Agreement (Cepa), which has led to increased exports from India to the UAE. Indian apparel brands have traditionally leveraged the Middle East market to access existing and new customers and explore potential collaborations with other brands.

The UAE market offers a significant opportunity for Indian apparel brands due to its large expatriate population with high purchasing power. Additionally, Dubai's well-developed retail market, luxurious resorts, hospitable culture, and diverse attractions for weddings, events, and celebrations make it an attractive destination for Indian brands seeking to expand their global presence.

According to recent data, apparel exports from India to the UAE were valued at $1.2 billion in 2022. To further promote Indian apparel brands in the UAE, the Clothing Manufacturers Association of India (CMAI) has announced a garment trade show at the end of the year to facilitate networking opportunities for Indian apparel brands in the UAE market.

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28 March 2023, Mumbai 

Fashion brand Forever New has recently launched its Spring Summer'23 collection, which is curated by the brand's ambassador, Indian actress Pooja Hegde.

The collection features a range of vibrant and sophisticated styles that are perfect for the summer season. With a focus on florals, the collection offers a diverse range of choices in both prints and solids, catering to the modern woman's varied tastes.

The collection offers a versatile range of options to suit any occasion, from chic work-wear to breezy daytime dresses. Crafted with meticulous attention to detail, each dress elevates the confidence and sense of style of the Forever New woman.

The brand's dedication to the celebration of modern femininity is evident in every piece of the collection. Forever New aims to create effortlessly wearable and timeless fashion collections that empower women to feel confident and beautiful in every moment.

Forever New is a fast-growing Australian brand that has over 20 stores and presence trough e-commerce in India and has over 250 stores in seven countries globally.

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16 March 2023, Mumbai 

Future Retail Ltd announced on Wednesday that its Executive Chairman and Director, Kishore Biyani, has withdrawn his resignation.

The debt-ridden company, currently undergoing insolvency proceedings, cited objections from the resolution professional as the reason for the withdrawal. Biyani had tendered his resignation on January 23, but in his letter, he had stated that he had completed all the necessary steps to hand over control of the business and its assets to the resolution professional. This included providing all information and data about the company's operations, as well as insights into the hurdles faced by the previous management.

However, the resolution professional objected to the contents of the resignation letter and requested Biyani to recall it.

The withdrawal of Biyani's resignation comes as a relief for Future Retail, which has been grappling with financial challenges for some time. With Biyani's extensive experience in the retail industry, his presence will likely help the company navigate through these challenges and emerge stronger.

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