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Fashion space & start-ups

04 September 2022, Mumbai:

The way we shop is changing thanks to fashion entrepreneurs. A lot is occurring in the fashion business, from tech-savvy customers to the industry's walls being broken down by technology given that the Post-Covid fashion industry is started to find its feet. The new paradigm is pushing companies to align and adapt to new consumer preferences on the back of the growth headroom digital/tech intervention is providing necessitating them to raise more money and embrace technology earlier than ever.
Fashion entrepreneurs are increasingly expanding outside eCommerce. The business is getting hotter. The advent of ‘Fashion Startups’ is changing the way consumer buys n shop. The trade is coming to a realization, of how Startups' arrival will be etched in history unraveling how fashion is produced distributed, and consumed by consumers of the day. Experts anticipate that the fashion industry will continue to grow and that fashion startups will play significant roles in this modernization process as the industry moves toward modernization and more startups emerge in the sector.

The approach to fashion trade is shifting thanks to fashion entrepreneurs. Many fashion startups are emerging, helping to transform the sector. Previously, these sorts of businesses were constrained by their enormous risks. Fashion startups are the newest businesses that market apparel/clothing, accessories, cosmetics, and other items that may be used to seem fashionable or nice. These firms continually bring about improvements challenging the established fashion industry business model to become a center of the newest and finest fashion. The semblance is that 'Fashion Startups' are been seen to drive innovations in the space such as VR fashion, AR apparel, AI & IOTs of the world.

Simplistically how do we describe what luxury means to you can be," very rich, pleasant, and comfortable surroundings". Most cutting-edge fashion businesses today have transformed from being an exclusive luxury of high society to a means of expressing personal style for people from various backgrounds. The technology here solves the issue of finding apparel/garments that suit one's body form, skin tone, and personal taste. As a result, fashion entrepreneurs now focus on producing unique items for each consumer. With new technology making it simpler for everyone to acquire what they want at a price they can afford, fashion companies are predicted to rule the globe in 2022. So let's explore the most recent developments and the businesses influencing the fashion industry's direction.

The evolving fashion business today contributes to the success of individuals in a society that is becoming more and more image-conscious. Catwalk events clearly are a communication funnel/a convergence between fashion designers & end consumers allowing designers exhibiting ideas, and merchandise on live models to live up to the experience.
Of late, Indian fashion startups are been witnessed to have reinvigorated the Indian fashion market because of inherent advantages, for instance, start-up costs are modest, and as in many cases, you won't require employees or even an office.

Fashion startups hack for curating niches in order to start getting a better fit is to try on. The desires of men and women who have trouble fitting into conventional clothes stores are the same. The cliche goes is," Fashion defines our personality and distinctively we as a person/persona/an embodiment". If you've ever had trouble finding the right fit or have a passion for bringing fashion to everyone, starting a plus-size apparel/clothing store may be a significant business venture.

It is anyone's guess that the entry barrier here is factors like attaining economies of scale (given little money/no capital in hand) in a space wherein its cottage industry/business may be conducted from a home in many cases on the one hand and product differentiation on the other. Undeniably the innate advantage of a home-based business is that fittings are more private and comfortable.
Pulse Check
The fashion industry today is grappling with multiple headwinds amid rising geo-political risk concerns fuelling supply-chain disruption, and slackened demand.
As per one McKinsey report,” From a geographic perspective, China was the standout performer over 2021, as its economy recovered much faster than those of other countries. In 2022, the industry’s growth will likely be driven by both China and the United States, while Europe lags behind”.
India has emerged as one of the world's fastest-growing fashion markets over the past few years. It is projected to grow at 15 percent CAGR by 2022 and become a $102 billion market for apparel, as per a recent report.

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Brand acquisition & house of brands

03 September 2022, Mumbai:

The brand acquisition seems to be the flavor of the day. Aditya Birla and Reliance Group, two of India’s prominent business groups have recently invested in designer brands like Manish Malhotra, House of Masaba, Tarun Tahiliani, Sabyasachi, and Anamika Khanna.

Both groups seem to be more inclined towards luxury brands, though they have also invested in a few premium ones, says an Inventiva report.

BRANDED HOUSE VS HOUSE OF BRANDS

As per Mahesh Singh, Founder and Managing Director, Singhi Advisors these acquisitions will give Reliance Brands and Aditya Birla Fashion and Retail (ABFRL), a chance to expand their product lines while offering the designer brands an opportunity to open more stores, introduce new products, etc.

Steady growth in the fashion industry

The Indian fashion industry has been growing at a steady rate despite a curb on weddings due to the pandemic. As per the market research company Euromonitor International, the Indian fashion market is expected to grow at a CAGR of 15 percent between 2021 and 2026.

Both Reliance Brands and ABFRL have been trying to get a piece of this growth pie. For the last few years, they have strengthened its position through new acquisitions and partnerships.

For instance, ABFRL invested in the House of Masaba to boost its beauty and personal products range. The acquisition helps the company acquire a well-known brand and a well-established consumer base.

Through these acquisitions, both these groups plan to widen their price range to include consumers from all social and economic strata. For instance, ABFRL offers a mix of brands like Van Heusen, Allen Solly, Jaypore, and Sabyasachi Couture for women.

One ET study refers," In Q1 2021, $1.3 billion of VC funding was raised by D2C brands in the US, with India at $500 million. The hyper-accelerated D2C Brands explosion made way for many disruptions, with The hyper-accelerated D2C Brands explosion made way for many disruptions, with ‘‘.

Widen products and market reach

Such collaborations benefit designer brands by allowing them to sell and distribute products across the world through big companies. They help brands consolidate their market position and unlock some value. Meanwhile, conglomerates like ABFRL and Reliance Retail are able to offer more choices in clothes, points out Aditya Chaudhury, Partner, and Argus Partners.

Investing corporate money into the designer clothing industry also offers more expansion opportunities to designers. For instance, known for its bridal lehengas, Sabyasachi Couture launched its jewelry line in 2017.

The designer brand also launched a fast fashion range in August 2021 in collaboration with H&M. Designers can also explore new markets by introducing affordable clothing or jewelry range. This ensures their clothes are bought by more number people.

Build omnichannel networks

Brand acquisition by corporate houses also helps them build omnichannel networks and adopt a direct-to-consumer approach. For instance, the strategic purchases of Genesis Luxury and Brooke Brothers help Reliance form partnerships with Burberry, Coach, Jimmy Choo, Diesel, Kate Spade, Michael Kors, Steve Madden, etc.

The paper intends to explore the basics of Brand Architecture getting readers valuable trade insights with a handful of examples. However, corporate acquisitions aren’t limited to luxury brands alone as affordable brands like Clovia, were bought by Reliance for ten times its sales this year and Amante for the same amount in 2021. Similarly, ABFRL bought Phillipe, Van Heusen, Allen Solly, Peter England, Forever 21, etc.

Both groups prefer to buy brands rather than make them. To sustain its growth momentum, they need to widen its price range to serve a wide range of consumers. They also need to retain the core value of couture brands while growing them.

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Srilanka: Offers competitive advantages in lingerie manufacturing, Wacoal reports

02 September 2022, Mumbai

Wacoal, a leading designer and manufacturer of high-quality, plus-size lingerie and bra-sized swimwear for the European market, eyes for one location in particular – Sri Lanka. Sri Lanka is an integral part of Wacoal’s manufacturing Strategy.

The Company, a market leader in the plus-size lingerie categories, promotes inclusivity and body positivity via women’s intimate wear with its extensive brand portfolio for Wacoal Europe which includes Wacoal, Fantasie, Freya, Elomi, and Goddess.

“We initially came to Sri Lanka in 2005 through a partnership with a leading Sri Lankan manufacturer,” recalls Supply Chain Director of Wacoal Europe Andrew Yeomans. “We have been continually upscaling our operations in Sri Lanka and now employ more than 1200 in our team.”

Despite the recent challenges faced by the island nation, production volumes of Wacoal Lanka – the Sri Lankan entity – have been maintained. Wacoal is eyeing further expansion of its manufacturing base in Sri Lanka, with two additional production lines being added in the coming months. In tandem, the company continues to invest in new technology.

Sri Lanka recently initiated a dedicated fabric processing zone in its Eastern Province, which conforms to high standards of environmental protection and sustainability.

Besides strengthening the supply chain and sustainability measures, this move will also enable the country’s apparel exporters to make greater utilization of preferential tariff schemes, by increasing local value addition.

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Cutting edge: 3D Printing in fashion design

31 August 2022, Mumbai

3D printing opens all new avenues & vistas for the fashion industry supporting, adding hack technology to the hitherto adopted conventional techniques. Today various sectors, including aerospace, automotive, medical & dentistry, use 3D printing. It is also ideal for use on Merino wool apparel/garments and presents the new potential for fiber.

A case in point is designers can combine the creative flexibility of 3D printing with the comfort, lovely drape, and organic performance to help create relentlessly a line emphasizing graceful, florid shapes of Merino wool & its blend materials. While the fiber's exceptional comfort, wearability, and performance are also maintained offering many new aesthetic options, dynamism & movement all thanks to 3D printing, according to AWI's Research & Development Manager for Europe, Birgit Gahlen.

As per one parametric-architecture report," The efficiency of parametric and generative designs, computational design can be enhanced with the aid of 3D printing tech".

With this technology microscopic precision is produced leading designers to create any intricate forms and textures they wish to choose, curating delicate ornamental elements and intricate detailing using distinctive gradient colors, base fabric can provide novel aesthetic effects such as cryptic shimmer effects & transparency.

Historically when 3D printing initially entered the fashion industry, the procedure took a while the uptake & one of the initial attempts to produce a piece of clothes using 3D printing required the printer to run continuously for 7 whole days as flexible printing materials were also not available at that time for 3D printers. But technology has advanced since then. Flexible printing material is also now available, and no longer it takes as long. Today More & more 3D printed clothing became available to the general public.

The world is well on its way to consolidating introducing it by Stratasys FDM TPU 92A - an elastomer 3D printing material engineered for prototyping, which it can be cleaned and ironed exactly like regular clothing & another flexible material been used to create 3D-printed apparel is FilaFlex. Selective laser sintering is also been used to produce the majority of 3D-printed clothes.

Furthermore, reinforcing the capacity to create elaborate patterns and achieve a high level of intricacy with 3D printing is absolutely critical for the fashion and textile industries of the day.

The smoothness & flexibility of 3D-printed clothes still somehow lag behind that of cotton or Lycra, As a result, accessories make up the majority of 3D-printed clothing and visible use cases are in products including footwear, jewelry, and eyeglasses & early users of 3D printed dresses are shifting their focus toward accessories.

Since designer pricey clothing is tailored to match your figure implying that couture or designer clothing is uncommon, distinctive, and somewhat challenging. All of those equations may be altered by 3D printing enabling the broad adoption of the notion of customized apparel.

The domain of wealthy elite homes is now accessible to the typical homeowner. Additionally, 3D-printed clothes promise to save waste and be eco-friendly. As it is immensely known that many textile scraps are been used in traditional design resulting in destruction & process is also prone to generating significant water contamination from the kind of dyes being used to color apparel/garments.

In the global backdrop of the water crisis & considering the immense water need for the production of textiles and its allied materials. Notwithstanding the innate reality that air pollution is also a significant issue in countries that produce a lot of fabrics, like China. Thus the importance of 3d printing cannot be overemphasized.

The upside of 3D cutting edge is well anchored today & already showing up its good side e.g. imaginative innovation is now possible for designers, faster turnaround & few geometrical restrictions are necessary to create wearable apparel besides eliminating several constraints designers had to deal with in the real world e.g. small batch sizes, etc.

3D Printing & Fashion Space Exploration

On the back of it any fine apparel/garment or fashion firm typically these days can execute orders for anything like a 40-foot container of clothing or shoes, especially in Bangladesh, Vietnam, or China.

Fashionable objects can also be expected to be produced on demand or in small lots thanks to 3D printing as in natural outcome in the journey. With such inherent developments, budgeting & the need for working capital may shift dramatically enhancing business efficiency & productivity.

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Animal cruelty & shameless fashion brands

29 August 2022, Mumbai

"Animals are not ours to experiment on, eat, wear, use for entertainment, or abuse in any other way." - PETA.

The concept of veganism has become popular worldwide, not just in the much-discussed food industry but also in the fashion world, suggesting the aware consumer's emergence. Even while vegan eating habits have been made fun of in the media, incorporating that idea into the design is more than simply a fad to win popularity among peers. 

The term "vegan fashion" refers to producing apparel and accessories without inflicting cruelty on animals during production, testing, or product creation. It is essential to highlight that this market, despite catering to a specific demographic, is welcomed with open arms in industrialized countries where market growth is out of this world.

The vegan market is receiving significant investment from nations including the US, UK, Germany, and France. By the end of January 2019, the UK saw a 5% increase in items labeled as "vegan," according to the London-based retail technology company Edited. With just an 11% increase yearly, the US may have lagged behind other economies in displaying such strong growth, but it already offers a much more comprehensive range of vegan goods. 

The French economy grew by 12%, but Paris, the world's fashion capital, has pledged to become the center of sustainable fashion by 2024, which will inevitably lead to a rise in the availability of vegan goods on the market. Denmark, which has experienced a 320 percent growth in items labeled as vegan, is another nation keeping an eye on this rapidly growing market.

The luxury market has not been the only one attempting to usher in the transition. One of the first high street businesses to register items with The Vegan Society's Vegan Trademark, New Look debuted a collection of 500 shoes, bags, and accessories. All components that could be present in textiles, threads, glues, dyes, and treatments are excluded from New Look's registered goods. They have also ensured that no animal experimentation was done during the production of the items and their components. According to reports, the corporation has also pledged to change details and lessen its dependency on substances produced from animals to register as many of its non-leather products as they can.

Marks & Spencer has been honored by PETA with the title of "Vegan-Friendly High Street Retailer" in recognition of its efforts to promote veganism. For clients who adhere to the vegan lifestyle, M&S has expanded its product selection to include vegan-friendly alternatives in food and clothes. Over 50 vegan recipes are available in the retailer's Plant Kitchen brand, while M&S debuted an accessible collection of 350 different types of vegan shoes in early March 2020.

These days, wearing items made from animals harms the wearer and the animals. To transform animal skin into completed leather, several more hazardous compounds, such as mineral salts, formaldehyde, derivatives of coal tar, and numerous oils, dyes, and finishes—some of which are cyanide-based—are used. Leather is one of the worst materials for the environment. As a healthier alternative, several companies, like Zara, Stella McCartney, and Bebe, have shifted to high-quality animal-free leather created from various materials, including non-animal microfibres, recycled nylon, polyurethane, and even plants, like mushrooms and fruit. 

Owing to more & more talks around vegan/alternate meat, sustained moral pressure & successive sensitization by animal rights groups, many fashion designers and brands have either stopped or started to shy away from using fur, arguably it is no exaggeration that still it is an all-too-common sight in the apparel/fashion sector. 

Fast-changing attitudes toward consumerism, especially among young people, resulting from increased concern over the environmental issue and the role fast fashion plays in society. As per surveys, 2/3 of 16 to 24-year-olds claimed that they were attempting to make more ethical fashion choices than before & the underlying aspiration is that ''Animal cruelty has to be opposed & resisted and shouldn't exist anymore/anywhere in our modern and civilized society''. 

Animal cruelty essay

The shifting mindset of the consumer creates a massive potential for merchants to tap into this vein quickly.

As per one news18 report on World Vegan Day on November 1, 2021,” World Vegan Day is the day to remember that animals want to live free from suffering, just like us, and do not want to be turned into burgers or shoes,” expresses Sachin Bangera, director of celebrity and public Relations, PETA India”.

As per Panaprium's report," Many well-known fashion brands and designers have stopped using real fur completely. Some of them are Versace, Furla, Armani, Calvin Klein, Gucci, Michael Kors, Ralph Lauren, Tommy Hilfiger, Shrimps, and Vivienne Westwood".

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