Arrow has appointed Amitabh Suri as its new Chief Executive Officer. A seasoned, result driven business leader, Suri has over 20 years of experience in the apparel and lifestyle industry. He has held leadership roles in various organisations such as Shoppers Stop, Landmark Group, & ITFL – Indian Terrain

Prior to joining Arvind Fashions Ltd, Suri was the President of Exclusive Brands & Private Label at Shoppers Stop.

A Bachelor of Arts in History (Honours) from College of Vocational Studies, University of Delhi,Suri also has aMastersdegree in Garment Manufacturing Technology from National Institute of Fashion Technology. He has also completed a Retail Management Course from IIM Ahmedabad and an Accelerated Management Programme from ISB Hyderabad.

Flagship Company of the Garware Group and a leading player in specialty Polyester Films in India, Garware Polyestercommenced the production of Paint Protection Films (PPF) for automobile paint protection. Currently, Paint Protection Film has an estimated global market size of $500million and is dominated by global giants like 3M, Llumar (from Eastman), XPEL etc.

With no major domestic manufacturing competition, the company estimates Paint Protection Films to contribute 20 per cent of FY23 revenue estimated at an incremental Rs 300 crore. The GPL PPF will also be more competitively priced than those available in the Indian market today, as it is manufactured in GPL's highly efficient, integrated manufacturing set-up.

Paint Protection Film is designed to give automobile paint coatings the highest level of protection and impact resistance, and these films are clear, self-healing Paint Protection Films. This type of special extends the life of the paint coating on vehicles, and has self-healing properties. The PPF is manufactured using a specially formulated Thermoplastic Polyurethane film (TPU), which offers high reliability and consistent performance. The highly specialized film protects the vehicle's paint from scratches, dents and damage caused by road debris and rocks, as well as from environmental elements, through its force-dissipation properties.

For its second quarter ending September 2020, Future Enterprises reported a consolidated net loss of Rs 320.56 crore on account of lower revenue from operations. The company had posted a net profit of Rs 21.78 crore in the corresponding quarter a year ago. Revenue from operations during the September quarter declined to Rs 237.88 crore as against Rs 1,699.84 crore reported in the corresponding quarter last fiscal. The company was impacted by the COVID-19 pandemic and consequent lockdown imposed throughout the country.

Developer of retail infrastructure for the Future Group, Future Enterprises handles backend operations of the retail business of the group. The company also holds Future Group's investments in subsidiaries and joint ventures including insurance, textile manufacturing, supply chain and logistics.

On August 29 this year, the Future Group merged its key group companies, including Future Retail, Future Lifestyle Fashions, Future Consumer, Future Supply Chains and Future Market Networks into FEL.

As a part of its restructuring operations, Bombay Rayon Fashions (BRFL) will hive-off Tarapur Yarn Dying & Fabric Process unit (Tarapur assets) to its subsidiary company - BRFL Textiles (BTPL) under a slump-sale transaction. As per Business World, after BRFL transfers Tarapur assets to BTPL, a set of PE investors would infuse equity in BTPL which would be utilized for funding the working capital for ramp up of operations of Tarapur assets. This unique structure, outside the purview of the NCLT, is beneficial to all stakeholders of the company and would result in maximization of value from the Tarapur assets by retaining its‘Going Concern’ value.

The new entity will generate good revenues in excess of Rs 2,000 crore annually and will be a perfect model for ‘Make in India’, offering excellent products to replace global competition in Indian as well as international market. The economic value generated out of this transaction will offer non-monetary benefits like retention of over 5,000 employees, clearing of all statutory dues, securing payment of financial debt, catering to domestic and international demand, increasing its potential to earn foreign exchange and encouraging local brands.

As per a new McKinsey survey, Indian consumers’ newfound optimism would result in increased spending across categories in the months to come. The survey found most consumers have been trading down or buying less expensive goods while they go for a shopping. Also, the brand loyalty has gone for a toss.

However, the intent to spend has increased by 30 per cent, says the report. About 58 per cent of Indians reported being optimistic about economic recovery in the next two to three months; about 32 per cent think it would take about 6 to 12 months while 10 per cent reported being pessimistic about the recovery.

As per the survey, only Chinese consumers are as optimistic as Indian ones 58 per cent consumers being optimistic, 38 per cent being unsure and 4 per cent being pessimistic.

Clothing brand Gaurang held an online and offline textiles exhibition called ‘Interlace’ in collaboration with the Crafts Council of Telangana.The exhibition highlighted traditional Jamdani and Tapisserie weaves and featured a number of online showcase events during the course of the exhibition, enabling people from around the world to explore Jamdami and Tapisserie weaves Gaurang also held an exhibiton of heritage textiles from December 9 to 13 in Telangana.

Gurang is known for its use of handloom textiles and traditional silhouettes for men and women. The brand’s founder and designer, Gaurang Shah, gave a number of talks during the course of the exhibition to share his knowledge of handloom to registered attendees. Gaurang launched his latest collection, ‘Taramati’, in October with a digital fashion film for Lakme Fashion Week’s first-ever online edition. The collection showcased a wide range of traditional weaves; from simple, white textiles to rich, jewel-toned brocades.

Gaurang retails from a flagship store in Hyderabad, as well as multi-brand retailers across India. The brand expanded its online offering in October and launched e-commerce storefronts for its menswear and its children’s wear lines, in addition to its pre-existing women;s wear portal.

Shopmatic has launched new solutions to help entrepreneurs and businesses to choose from four different e-commerce solutions - chat selling, social selling, marketplace selling, or selling through web stores. Customers can choose the solution that best suits their needs. These will be available on the Shopmatic platform.

Most of sellers prefer to sell on chat or social media platforms. Shopmatic will help these sellers through a single checkout link that can complete the sale within the channel itself.

For sellers who want to use marketplaces like Amazon, Lazada, Shopee, Qoo10, etc, Shopmatic’sMarketPlaces solution enables them to sell, manage and fulfill their business from the company's dashboard. Rather than have to upload products in individual marketplace dashboards, Shopmatic merchants will be able to control all key operations from the dashboard.

For sellers and businesses who want to create their webstores, Shopmatic will continue to enable them through their ecosystem, complete with all features like payment and shipping integrations, chat and selling, multiple beautiful templates and domain name.

Merchants will be able to generate single checkout links for their products that they can share across multiple channels- WhatsApp, Facebook, Line, Telegram, Instagram, emails, SMSes, their websites or any tab/ app enabled on their phones. Buyers can checkout within their point of engagement and provide the relevant details - choose product variants, make payments, and select shipping options. Sellers can expect to see higher sales with better conversion rates and customer satisfaction as buyers will not need to engage in conversations before making their purchase.

The Single Checkout Link also enables transaction virality, in that buyers can share the same links with their friends or followers, helping sellers benefit from the reach of expanded audiences.

Fashion and lifestyle brand House of Masaba is now looking more at the beauty segment by collaborating with Nykaa for a range of mini perfumes. The brand launched its first range of presumes on Nykaa on December 16. Known as Burn Babe,’ the perfume featured the brand’s signature whimsical illustrations and retailed across Nykaa’s network of beauty stores as well as online.

The popularity of the perfume, and the makeup line in general, led the brand to expand its collaboration with Nykaa. It’s new selection of perfumes are designed to be collected and used on the go. Known for its diverse array of collaborations, House of Masaba has launched new collections along with jewellery brand Tribe Amrapali and sari brand Ekaya, etcs. This month, the brand has collaborated with Ekaya to relaunch its collection of bold, graphic saris, which originally debuted in spring last year.

Based on data analytics by Myntra, top fashion and lifestyle brands such as Puma, Nike, Biba, W For Woman and Max Fashion plan to launch exclusive collections for the e-tailer’s upcoming flagship End Of Reason Sale (EORS) event. Scheduled from December 20-24, 2020, EORS expects 40 million visitors over the five day sale period with demand expected to increase four times over business as usual (BAU) and 1.5 times over the last winter edition. About 50 per cent of the contribution is expected to come from Tier II, III markets.

During last EORS in June, Myntra had recorded 86 per cent increase in the number of customers from Tier II and III cities, indicating a shift in consumer behavior and preference for online shopping during the lockdown. It was the first online sale post COVID-19 lockdown that was being looked upon by brands to bring the first wave of normalcy and to win back shoppers.

Apart from increasing the fleet of delivery agents with 20,000 kirana partners on board, the platform roped in 1,600 brick-and-mortar stores from about 200 brands to serve as fulfillment centers. For its upcoming edition, Myntra will deliver one-third of the EORS orders in paper bag packaging in place of plastic while 50 per cent of the orders will be shipped from solar power-enabled fullfilment centres in Bhiwandi and Bilaspur. The marketplace expects to ship 1.5 crore items by the first week of New Year.