16 December 2021, Mumbai:

H&M Group released its fourth-quarter and full-year sales report on Wednesday, and while it was sparse on details as is typical of the company it did demonstrate that sales are recovering and returning to pre-pandemic levels.

The world's second-largest apparel store posted Q4 sales of SEK56.8 billion (€5.52 billion/£4.49 billion/$6.22 billion) from September to November, which was in line with experts' estimates. Sales increased by 11% in local currency.

Importantly, the parent company of H&M, Cos, Monki, &OtherStories, Arket, and other brands stated that "despite persistent limitations and the negative impacts of the pandemic, the H&M group's sales in local currencies were back at the same level as in the fourth quarter of 2019."

Fashion retailers have been working hard simply to get back to where they were two years ago, and their success is amazing given that persistent constraints and customer caution are still concerns they must deal with across the world.

According to the corporation, roughly 115 stores were temporarily closed due to limitations at the conclusion of the quarter (primarily in Austria and Slovakia), which was higher than the 'only' 100 stores that were shuttered at the start of the three-month period (mainly in South-East Asia).

Net sales climbed by 12% in local currencies for the whole fiscal year, according to the company. When converted to Swedish crowns, the amount increased by 6% to SEK198.967 billion.

The store stated that its "solid recovery" is still ongoing. Customers are expressing their gratitude for the collections and the ability to purchase when, when, and how they choose." On January 28, the corporation will release its entire full-year report, including earnings data.

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DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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10 December 2021, Mumbai:

Fashion and leisure retail fair for businesses. From December 17 to 19, the Haat will visit Hyderabad for an edition at the city's Taj Krishna Hotel, with roughly 80 businesses from around India.

The shopping fair seeks to bring companies from all around the country together to allow shoppers to peruse items that aren't normally accessible in their location and firms to extend their distribution network and meet new customers. According to the event's Facebook page, the shopping expo is aimed at ladies seeking businesses in the bridge-to-luxury area of the market.

Women's festive wear, ethnic wear, western wear, fusion wear, accessories, precious and semi-precious jewelry, gift items, handloom textiles, home décor and furnishings, children's wear, menswear, footwear, and art will be among the product categories available at The Haat's Hyderabad edition in Banjara Hills.

Several bridal wear manufacturers will be showcasing their collections for the winter wedding season at the event.

According to the event's 10Times events page, roughly 10,000 consumers are expected to attend throughout the duration of the three-day event.

The Haat, which staged its most recent shopping fair in Kolkata on December 9, has held events in locations across India, including Vizag, Raipur, and Bilaspur.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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08 December 2021, Mumbai:

A bench comprising Chief Justice NV Ramana and Justices AS Bopanna and Hima Kohli asked the lawyers for both sides to file compact versions of documents, so it is easier for the court to dispose of the matters.

The Supreme Court today adjourned a hearing of various cases involving Amazon and Future Group as the written submission of the two companies were made too late for the judges to read before the arguments began.

"Purpose of our last direction was that you circulate (the notes) so we can read earlier. At 10 pm I got this FRL's arguments and morning we received other party's." Chief Justice NV Ramana said. ch comprising Chief Justice NV Ramana and Justices AS Bopanna and Hima Kohli asked the lawyers for both sides to file compact versions of documents, so it is easier for the court to dispose of the matters.

ET (The news article has not been edited by DFU Publications staff)

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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15 December 2021, Mumbai:

FabIndia’s revenues fell 30 per cent during the year ended March 2021. This is the first time the firm has posted a loss and sales decline in over two decades. Hurt by pandemic restrictions, the ethnic retailer was forced to shut shop for several weeks followed by restricted timings throughout the year.

FabIndia, founded in 1960, started as an exporter of home furnishings. FabIndia has also launched four strategic business units, home, and lifestyle, personal care, FabCafe, and e-commerce.

FabIndia is India’s largest private platform for products that are made from traditional techniques, skills and hand-based processes. It believes in giving employment to craftsmen where they can do their work in their own environment.

FabIndia’s latest range for women and men has a color palette of aubergine, icy turquoise, and charcoal. The collection’s north Indian inspirations can be seen with layered styling and bold silver jewelry.

FabIndia retails from its dedicated e-commerce store and chain of outlets across India. The brand relaunched what was it is first-ever store in New Delhi in September and launched an ethical clothing line in the same month.

The brand is also planning an initial public offering. FabIndia has stepped into skincare and haircare. The new Fabessentials line launched with 70 different products features natural ingredients.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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10 December 2021, Mumbai:

Retail malls in India are expected to witness recovery up to 75 percent of pre-Covid rentals in the current financial year, says rating agency ICRA.

Malls have witnessed a faster recovery after the second wave of the pandemic, compared to the first wave, driven by faster relaxation in the restrictions and improved vaccination coverage.

With the easing of restrictions, along with a decline in the fresh Covid infections, there was a gradual improvement in operational metrics and rent income for mall operators in the second half of 2020-21 before the second wave in April 2021 again led to the closure of malls for about two months due to state wise restrictions.

Recovery of retail malls was sharper since August 2021 and the trajectory is expected to sustain driven by pent-up demand, high vaccination coverage, and the resumption of multiplexes which also coincided with the festive season.

While footfalls remain significantly lower than those in pre-Covid levels, the average spend per footfall improved drastically since the pandemic indicating the fact that only serious buyers are visiting malls now.

Store categories such as hypermarkets, electronics, and fashion and beauty have done well with certain brands even exceeding pre-Covid sales.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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08 December 2021, Mumbai:

Ethnic wear brand Meena Bazaar is now on Myntra. Myntra’s aim is to bolster its ethnic wear offerings, create a strong impression in the minds of shoppers about Myntra and its fashion proposition.

Meena Bazaar made its debut on the platform with a selection of 350 premium women’s wear products including saris and lehengas and its collection will be expanded to feature 700 products in the coming two months.

The brand targets millennial and Gen Z shoppers. Meena Bazaar sees this alliance with Myntra as an opportunity for various customers to experience the brand who are currently unable to. From a product perspective, a number of products unavailable offline will be available on Myntra.

Meena Bazaar was originally founded in 1970 with a small boutique and now retails its ethnic wear internationally. The brand has 70 stores across India and retails in 45 countries.

Online multi-brand fashion retailer Myntra continues to be the destination of choice for leading brands to extend their offering to fashion-forward customers across the country. Customer convenience is enhanced by avoiding the current pollution levels, travel time, and costs associated with shopping offline.

Ethnic wear is a category with strong growth prospects and Myntra is betting big on this category. 

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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14 December 2021, Mumbai:

Me N Moms plans to open 20 stores across India. The children’s and maternity wear retailer currently has 135 stores operational in 69 cities of India.

To reach out to parents looking for good quality but reasonably priced products, Me N Moms is continuing its vigorous geographical expansion plan in the country despite the pandemic lull.

The brand has a unique franchise model, where the store is handed over to the franchisee after the setup is put in place and sufficient training is given. This gives autonomy to the franchise owner while at the same time it ensures that they do not compromise on quality. The products undergo rigorous tests before being put on sale.

Beginning with the first store in Mumbai in 1994, the brand today is the country’s only label that offers products in every category of childcare and mother care.

These are available across all Me N Moms outlets and also in more than 10,000 leading baby stores and chemist shops across the country.

The retailer through its baby care and parenting brand MeeMee also offers a large variety of products in different categories including skin and oral care, feeding, infant utility accessories, travel, nursery, toys, fashion, and maternity. MeeMee was launched in 2007.

(The news article has not been edited by DFU Publications staff)

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage

09 December 2021, Mumbai:

In a report, leading consulting firm Deloitte India stated that after the pandemic affected customer behaviors and caused a shift in-retailer offers, consumers and consumer goods companies in India are adopting a multi-channel approach.

According to the research 'ReWriting the Rules of New Retail,' the retail sector's future will be defined by a multi-channel approach in which online and physical channels will not only compete but also support one another.

In economies like India, the future of retail will be a mix of brick-and-mortar stores and online selling platforms, with both expected to flourish. Brands and retailers are recognizing the shift, and their strategies are being adjusted to reflect it. In particular, India's whole retail sector is valued at $883 billion, having tripled in the last decade. It currently employs 8% of the overall workforce, or 35 million people, and is predicted to produce 25 million additional employment by 2030.

The pandemic has resulted in long-term changes in consumer behavior. Although buyers returned to stores once the lockdowns were released, they are significantly more demanding when it comes to getting their hands on the things they want. This indicates that they are willing to switch platforms and shop across many channels.

As a result, retailers, particularly offline retailers, have had to adjust to the 'new normal,' developing new ways to engage with and reach their end customers, building new business models — including direct-to-consumer reach, and quickly enhancing their online presence while maintaining their offline stores and footprint, according to the report.

According to the report, "Retailers are addressing this quick shopping across numerous channels not only in stores but also upstream throughout the supply chain, which is undergoing a tremendous omnichannel transformation as well."

While it was previously thought that e-commerce would capture only a 5% to 6% share of overall retail sales, Rajat Wahi, Partner, Deloitte India, believes that by 2025, that percentage might be as high as 15%. It may play out differently for different categories, with fashion, gadgets, accessories, and books being more prominent online; but, scaling up online grocery will take time.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage

07 December 2021,  Mumbai:

FabIndia, a retailer of clothing and furniture inspired by traditional Indian crafts, plans to file preliminary documents for an initial public offering of as much as $500 million, according to people familiar with the matter.

The Delhi-based company, whose backers include PremjiInvest, the family office of Wipro Ltd. founder Azim Premji, aims to submit its so-called draft red herring prospectus as soon as early next year, the people said.

Its IPO will largely consist of investors selling existing shares, they said, asking not to be identified as the information is private.

FabIndia is considering seeking a valuation of about $2 billion, one of the people said.

Deliberations are ongoing and details of the listing such as size and timing could change, the people said. Representatives for FabIndia and PremjiInvest didn’t immediately respond to requests for comment.

Indian companies are pushing ahead with their IPO plans even after Paytm’s tumultuous listing -- which saw the firm behind the country’s biggest IPO plunge more than 35% in the first two days of trading -- challenged investors’ exuberance.

Star Health and Allied Insurance Co.’s IPO last week, the first large offering since Paytm’s debut, was trimmed after failing to get bids for all the shares on sale.

Founded in 1960 by John Bissell to showcase Indian hand-loom textiles to the world, Fabindia sources a large share of its products from villages across India, according to its website. The company connects more than 55,000 rural producers to urban markets, and runs its own school with nearly 500 students, the website shows.

BLOOMBERG (The news article has not been edited by DFU Publications staff)

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul
2. Consumers will determine growth of sustainable fashion e-comm in India
3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'
4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22
5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage

13 December 2021, Mumbai:

Myntra expects about seven lakh new customers on its platform during the End of Reason Sale (EORS) scheduled from December 18 to 23, 2021, with over 5,000 brands participating. The event is slated to cater to the fashion, beauty and lifestyle needs of over 40 lakh customers across the country.

About 45 percent of overall traffic is expected to come from Tier II and III cities.

Expanding its Omni network further, Myntra has integrated over 350 brands and 2,900-plus stores across the country. Omni-channel services are being offered in over 42 cities and across 1.4 lakh styles.

About 25,000 Kirana partners, including franchises, will cater to 80 percent of all deliveries this EORS. Myntra's Kirana model offers store owners an alternate source of income and livelihood which is amplified during EORS owing to the sheer volume of deliveries.

Myntra will go plastic-free with delivery packaging made from recyclable paper. In addition, Myntra uses recycled paper for cushioning articles and has replaced plastic for inner packaging wherever possible.

Giving a strong boost to its efforts in sustainability, two of Myntra's largest fulfillment centers, located at Bilaspur and Bhiwandi, are solar power-enabled.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage

09 December 2021, Mumbai:

Myntra has launched an app to appeal to Gen Z shoppers. Style Cast is a curated shopping platform with over 60 fashion brands. It been designed to offer unique and absorbing experiences to customers aged 16 to 25. Brands featured on the online store include H&M, Urbanic, Trendyol, Misguided, DeFacto, Mango, JC Collection, Forever New and Forever 21. Style Cast is Myntra’s one of the biggest initiatives to bring global trends to the Indian market for young fashion-forward shoppers who are known to have edgy and high on-trend fashion choices, says Myntra’s chief business officer, Sharon Pais.

Style Cast caters to the unique fashion preferences of Gen-Z customers with over 3000 styles. It features three curated multi-brand segments with the themes: Winter Wonderland, Winter Crush, and Romanticism. The shopping segment has both a budget and a premium section to cater to multiple price points. Myntra is Flipkart’s fashion arm.

The business is working with established and smaller influencers to promote its garments and accessories to a Gen Z audience. In tandem with the launch of Style Cast, Myntra has launched a new range of influencer-led engagement and promotional activities across its social media platforms including Instagram.

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06 December 2021,  Mumbai:

The Confederation of All India Traders (CAIT) has slammed a number of Indian states for signing memorandums of understanding with Amazon, accusing the corporation of engaging in illicit business activities.

CAIT issued remarks on December 5 criticizing state governments for signing memorandums of understanding (MOUs) with Amazon India to sell items created by government agencies on the company's e-commerce site.

The MOUs are intended to increase sales of locally created items such as handloom textiles, which would help micro, small, and medium businesses, but CAIT claims the accords will harm the states' economy.

In a joint statement, CAIT's national president B.C. Bhartia and general secretary Praveen Khandelwal said, "Madhya Pradesh Home Minister Dr. Narottam Mishra in the past few days had admitted involvement of Amazon in 'ganja' supply racket and therefore at the first instance, the MP government should immediately cancel all its MOUs with Amazon," according to Indo-Asian News Services.

CAIT indicated that it is working to arrange meetings with chief ministers in each state to discuss the matter. The organization also intends to stage rallies against the MOUs across India.

CAIT has vowed additional rallies across India, as well as boycotts and strikes against Amazon in the past. Amazon has been charged with promoting the sale of unlawful items, breaking foreign direct investment restrictions, indulging in deep discounting, and damaging the companies and livelihoods of Indian traders, among other things, by the traders' group.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul
2. Consumers will determine growth of sustainable fashion e-comm in India
3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'
4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22
5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage