22 June 2022, Mumbai:

Global retailer H&M has launched a new program where all products made by the H&M Group in India including shirts, blouses, skirts, etc will have buttons crafted from post-consumer recycled plastic collected by waste pickers in Bengaluru. A part of H&M Foundation’s four-year initiative, ‘Saamuhika Shakti’ the program is being executed in partnership with social enterprises like Hasiru Dala Innovations and WaterAid India, etc. According to Maria Bystedt, Strategy Lead, H&M Foundation, the Saamuhika Shakti has benefitted 20,000 waste pickers and 2.6 million people from the general population of Bengaluru.

Shekar Prabhakar, Co-founder & CEO, Hasiru Dala Innovations says, the buttons are traceable down to the source of PET waste, names of the workers, social security, salaries and working conditions at the collection center. The program will ensure fair price to waste pickers, immediate payment through bank transfers and assured offtake. In the long term, it will integrate waste pickers and informal waste workers in the circular economy supply chain by providing them with an access to end-user markets.

13 June 2022, Mumbai:

In Q4FY22 , V2 Retail’s net profit declined by 177.41 per cent to Rs 9.5113 crore from Rs 12.2871 crore. The company’s total income declined by 32.52 per cent to Rs 161.9099 crore from Rs 239,9551crore. The company’s EPS declined by 177.09 per cent to 2.76 from Rs 3.58.

On a Year-on-Year basis, V2 Retail’s proifit declined by 7.36 per cent from Rs 10.2665 crore to Rs 9.5113 crore. The company’s income declined by 18.11 per cent fromRs 197.72 croreto Rs 161.90 crore.Its EPS declined by 8.31 per cent from Rs 3.01 to Rs 2.76.

V2 Retail is one of the fastest growing retail companiesand one of the most experienced one. It offers an unparalleled retail mix combined with value and variety to its shoppers. The company’s presence in 17 states of India with 96 high fashionable operational stores, make it stand out amongst the pioneers in setting up unique precincts with modern ambience retail chain.

09 June 2022, Mumbai:

Melbourne based premium fashion brand, Forever New has launched its first store in Ahmedabad, Gujarat.

Spread across f 1,000 sq ft, the store houses the latest collections from the brand including the newly launched ‘Feel Fresh’ collection.

 ALSO READ Forever New: Opens its store in Gujarat 

Dhruv Bogra, Country Head, Forever New says Gujarat is a potential market for Forever New and motivates the brand to have a stronger presence in the country in the coming years.

The new store launched with the brand’s S/S’22 collection, ‘Feel Fresh’. The range includes beautiful garments such as dresses, jumpsuits, blouses, etc.

 RELEVANT NEWS Forever New appoints Shivani Goel VP-Marketing

The range also offers a wide range of accessories such as hats, sunglasses, jewelry pieces and handbags.

Founded in Melbourne, Forever New currently has 41 stores across the country. The brand is also available in Shoppers Stop, Iconic, Kapsons, and other stores.

Join our community on Linkedin

21 June 2022, Mumbai:

The recently concluded End of Reason Sale (EORS) by Myntra served about five million customers who ordered roughly 21 million products in a span of six days. As per the company’s estimate, the event served one million first-time users. The event sold most number of women’s western wear, men’s casual wear, sportswear, and beauty and personal care items during its six days spanning July 11-16, 2022.

The highest sold products during the sale event were: T-shirts from Roadster Life & Co, shampoos from L’Oreal, hair color from Garnier, facewash from Ponds, earbuds from boat and Lakme’s eyeconic Kajal. The most-in demand brands during the sale event were US Polo Association, Puma, H&M, Mango, Levis, HRX, Wrogn, Maybelline, Roadster Life & Co, Highlander, Libas, L’Oréal India and Fire-Bolt.

The luxury beauty segment from Myntra Luxe witnessed high demand with brands like MAC, Dyson, Armani Beauty, GK Hair, Benefit Cosmetics, CK, Laneige dominating growth.

Myntra reportedly sold around 10 T-shirts, 14 lipsticks and 17 sarees per second and roughly 1,600 styles per minute during the sale event. A majority of its shoppers were women, as per the e-commerce company. The event witnessed maximum number of shoppers from Delhi, Bengaluru, Mumbai, Hyderabad and Pune. It also witnessed an increase from demand from shoppers from Tier II and III cities like Jaipur, Patna, Lucknow and Indore.

13 June 2022, Mumbai:

Inditex Trent Retail India (ITRIPL), a JV which is engaged in the operation of Zara stores in India, reported a net loss of Rs 41 crore in 2021 while its revenue fell by 28.3 per cent to Rs 1,126 crore in the pandemic impacted year.

The Inditex group of Spain owns 51 per cent while Trent has 49 per cent in ITRIPL.

The entity for Zara currently operates 21 stores across 11 cities. There has been no increase in the number of stores in the last two years.

Inditex group of Spain has another similar association with Trent, which operates Massimo Dutti stores in India. It has also reported revenue growth of 43.9 per cent during FY22. The entity operates three stores and recorded revenues of Rs 59 crore in FY22. Its profit grew to 1.48 crore in FY22.

The business of both entities is essentially limited to the distribution of Zara and Massimo Dutti products in India.

Both entities are required to source merchandise only from the Inditex Group.

07 June 2022, Mumbai:

The size of the fashion e-commerce market in India will grow by 35 per cent to around $30 billion in the next five years, says NanditaSinha, CEO, Myntra.

According to Sinha, the Indian e-commerce industry is going through a "transformational" growth phase with India having 1 billion internet users by 2030 and 50 per cent of its population below 25 years. A lot of these consumers who are below the age of 25 will get digitized.

India is an under-penetrated country from the brands point of view as it has less brands per capita consumption than the Southeast Asian countries or the West, adds Sinha.

There is a proliferation of brands that is coming into the country to build their brand base, be successful across both online and offline channels and use the next seven to eight years to establish themselves very deeply in the country, she adds further.

Along with international brands, there is an increasing element of building homegrown D2C brands, Sinha adds. Brands are also taking the opportunity to create specialized capsules for India, which are rooted in Indian culture, she states.

17 June 2022, Mumbai:

A wide selection of children’s clothing and accessories, etc will be displayed at the business-to-customer shopping event Kidszone Fair that will be organized from July 23-24, 2022 at Thakur Banquet in Kandivali, Mumbai.

As per a Fashion Network report, the upcoming event will feature product categories including clothing, footwear, jewelry, home décor, arts and crafts goods, food, toys, and educative tools for children, etc. It event aims to promote local children’s themed brands to Mumbai’s shoppers.

The fair is themed as a ‘Rakhi Edit’ ahead of the upcoming RakshaBandhan festival which falls on August 11 this year. The event will feature clothing and accessories for the festival as well as interactive elements to create a festive atmosphere.

11 June 2022, Mumbai:

Set to open in the coming month, the Lulu Mall in Lucknow has leased out approximately 6 lakh sq ft to the Lulu Group.

The project has over 200 national and international brands in an area spanning over 20 lakh sq. ft. Over 84 per cent retail space of the mall has been leased out so far.

ALSO READ Lulu Fashion Week: Brings together multiple brands in five days

The mall has leased out space to brands such as Lulu Hypermarket, Decathlon, Starbucks, Nykaa Luxe, Kalyan Jewellers, Costa coffee, and Chili’s, among others.

An 11-screen PVR super-plex will be launched later this year. The mall houses 15 fine dining restaurants and cafes, and a food court with a seating capacity of 1,600.

Lulu Lucknow is the largest mall by the group in India.

RELEVANT NEWS  Lulu Group to set up malls in Karnataka

Lulu Group’s other malls are located in Kochi, Thrissur, Trivandrum, and Bangalore.

Headquartered in Abu Dhabi, UAE, Lulu Group currently has 234 hypermarkets and 24 shopping malls in the Middle East, Egypt, India, Malaysia, and Indonesia with a global workforce of over 57,000 employees.

The group has an extensive expansion plan in India, with many more projects in the pipeline.

Join our community on Linkedin

02 June 2022, Mumbai:

E-commerce giant Flipkart sold over 200 million fashion products across nearly 19,200 pin codes. Most of these sales were recorded during the Spring Summer Season sale where over 175,000 sellers from metro and Tier II and III cities also participated. Customers shopped for fashion and lifestyle products including sarees, men’s T-shirts, watches, sunglasses, women’s kurtis and footwear, from national, international and homegrown fashion brands.

This is the first time Flipkart has hit 200 million orders in the fashion category, from January to May this year, considered as the spring-summer season, surpassing the pre-pandemic sales in 2019 as the fashion segment grew rapidly for the company amid COVID.

The season saw customers shopping for fashion products from across the country including metros and a majority of these customers also from Tier III, IV and V cities for fashion products from cities like Ranchi, Ernakulam, Kanpur, Medinipur and Cuttack, and a substantial number of the overall customer base were first-time fashion shoppers.

This season, Flipkart Fashion saw participation from hundreds of made in India brands which included sarees, men’s T-shirts, watches, sunglasses, women’s kurtis, footwear and jeans. The season saw tremendous growth for its fashion seller partners and boosted consumption from audiences across the country.

Walmart-owned Flipkart is in a fierce battle with rivals such as Amazon, Reliance’s JioMart and Tata to tap the booming e-commerce market in India. The Covid-19 pandemic has accelerated the shift to e-commerce, and more consumers are shopping online at a higher frequency on the e-commerce platforms. The online retail market in India is expected to reach $350 billion by 2030 from $45-50 billion now.

15 June 2022, Mumbai:

Designer duo Falguni and Shane Peacock has collaborated with JW Marriott Mumbai Juhu to create customized uniforms for the hotel’s Guest Relations team.

Inspired by the intrinsic flow of the Indian saree, the new apparels feature an asymmetrical tunic over flared trousers, accentuated by a signature FSP patterned scarf.

The silhouettes created by the designer pay homage to one of India’s most iconic luxury destinations at Juhu in Mumbai, and yet stay true to its ethos of global appeal, Indian spirit, and comfort, say Falguni and Shane Peacock.

The custom-made apparels, with its contemporary form, have a unique fall that spells grace, and confidence and yet conforms to India’s traditional roots.

10 June 2022, Mumbai:

India’s online fashion market will grow 35 percent to $30 billion in the next five years, as per predictions made by Flipkart’s fashion arm Myntra.

As per a *Fashion Market report, Myntra expects India’s e-commerce business to grow 30 percent during the period.

RELEVANT NEWS Myntra’s EORS: Offers ‘Early Access’ for its Insiders

Almost one-third of fashion in India is expected to be sold through digital platforms over this period.

By 2030, India will have one billion internet users, says Nandita Sinha, CEO. Around half its population is currently below 25 years of age and Myntra aims to capture these consumers through its increasingly interactive online shopping features such as live shopping.

ALSO READ  Myntra: Bets on live commerce during EORS 

Sinha says young consumers will help fuel the growth of the company in the coming years. It looks to identify these consumers and understand their preferences and choices.

Besides fashion, Myntra also aims to capitalize on direct-to-customer brands in the beauty segment, and India-specific collections from international brands. Myntra has expanded its beauty segment with numerous new additions ahead of its largest sale event of the year to tap into the growing symbiosis of fashion and beauty.

Join our community on Linkedin

CREDITS: *Fashion Market Report

01 June 2022, Mumbai:

IKEA India will expand its retail footprint by opening a new store in Bengaluru. To be connected to the Nagasandra metro station, the store will be accessible to many people in Bengaluru.

RELEVANT NEWS  Ikea India to make products more affordable through increased local sourcing

Jesper Brodin, CEO, Ingka Group, the parent company of IKEA met Basavaraj Bommai,Chief Minister, Karnataka at the World Economic Forum Meet in Davos, Switzerland and held discussions in the backdrop of the store-opening.

ALSO READ Ikea India appoints Adosh Sharma as Country Expansion Manager

They discussed issues related to the extensive use of bamboo and other locally available raw materials to make furniture for the store. The store would IKEA's third in the country after Mumbai and Hyderabad.

Spread across 5 lakh sq. ft. the Bengaluru store would employ 800-1000 direct workers and another 1,500 indirectly providing services such as assembly and delivery. The store is expected to attract more than 70 lakh visitors a year.

Join our community on Linkedin