03 June 2022, Mumbai:

India’s RMG exports grew by 22.08 per cent Y-o-Y to $2,935.73 million during April-May ‘22-23 from $2,404.67 million in April-May 2021. RMG exports 3.81 per cent to the country’s total merchandise export during the two months.

India’s RMG exports grew by 22,94 per cent to 1,360.95 million in May 2022 against, export of $1107 million in May 2021 RMG contributed 3.65 per cent in total merchandise export of May 2022, the ministry of commerce and industry said in a release.

India’s total merchandise export in May 2022 amounted to $37.29 billion, an increase of 15.46 per cent over $32.30 billion in May 2021. The export in April-May 2022-23 was $77.08 billion with an increase of 22.26 per cent over $63.05 billion in April-May 2021-22.

India’s merchandise import in May 2022 was $60.62 billion, an increase of 56.14 per cent over $38.83 billion in May 2021. The imports in April-May 2022-23 were $120.81 billion with an increase of 42.35 per cent over $84.87 billion in April-May 2021-22. The trade deficit in May 2022 was $23.33 billion, while it was $43.73 billion during April-May 2022-23.

30 May 2022, Mumbai:

The new luxury collection launched by ethnic wear retailer Indya offers traditional women’s wear ensembles for summer weddings. The maiden collection of the brand includes 19 ensembles, priced between Rs 6,500 and Rs 14,000 and ranging from classic to fusion styles.

The highlight of the collection is a rose-colored anarkali kurta set with a matching churidar and dupatta; an ombre sharara set in sage green.

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The collection also offers opulently sequined pre-stitched saris. Some of the garments in the collection are available in a number of color combinations for brighter and muted options.

Retailing a wide range of ethnic wear, Indya recently launched its summer 2022 collection for main line.

RELEVANT NEWS 'Indya' launches line with designer Payal Singhal 

It features more fusion style pieces for day wear from strappy crop tops to dress-style kurta sets as well as evening wear ensembles from peplum saris to gathered lehengas. Ethno-fusion brand Indya was launched by entrepreneurs Shivani Poddar and Tanvi Malik in 2016. The duo also run womenswear brand FabAlley.

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27 May 2022, Mumbai:

Navyasa by Liva, the New Age sari brand from the Aditya Birla Group has launched a new marketing campaign featuring Bollywood Deepika Padukone.

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Focusing on the theme #freetobe, the campaign highlights the brand’s aim on the perception of saris amongst Indian women.

As per a Textile Value Chain report, the new collection offers vibrant and chic designs for modern women.

Developed by designers Abir and Nanki along with the internal design team at Liva, the range uses soft and flowy fabrics to allow effortless movement.

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Rajnikant Sabnavis, Chief Marketing Officer, Grasim Industries-Pulp and Fibre Division says, Navyasa by Liva redefines the sari category to beautifully capture the essence of modern Indian women. The campaign represents how a sari is breaking stereotypes with its fluid, breathable and comfortable fabrics like Liva Crepe and Satin. The Navyasa by Liva collection offers contemporary saris to empower women to move around with spirited optimism and #freetobe in their element.

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30 May 2022, Mumbai:

Against a net loss after tax of Rs 99.45 crore posted during the same period last year, Arvind Fashions posted a consolidated net profit of Rs 22.38 crore in Q4 ended March 2022. The company’s consolidated revenue from operations grew to Rs 916.7 crore during the quarter against Rs 684.58 crore in the year-ago period.

Growth was led by a strong bounce back in demand and strong footfalls further aided by growth in other channels, including online and department stores. The company’s expenses during the quarter increased to Rs 927.63 crore compared to Rs 719.65 crore a year ago.

RELEVANT NEWS Arvind Fashions posts Q3 FY22 results

For the fiscal ended March 31, 2022, the company narrowed its consolidated net loss to Rs 236.7 crore from Rs 595.99 crore in the preceding fiscal.

In FY22, the company’s consolidated revenue from operations grew to Rs 3,056.04 crore against Rs 1,911.91 crore in FY21, the company said.

Revenues from online channel grew to Rs 1,000 crore in FY22.

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Shailesh Chaturvedi, Managing Director and CEO says, the company achieved several milestones during FY22 on account of its refreshed brand identities, sharp retail execution, significant store and online retail expansion and a stronger balance sheet.

The company’s performance in second half of FY22 reflects the popularity of its brands amongst consumers and their resilience against the initial impact of the COVID-19 third wave in January 2022, adds Chaturvedi.

This sets the momentum for the company to capture a larger market share in FY23, he adds further.

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27 May 2022, Mumbai:

Khadim India’s revenue declined 41 percent to Rs 159 during the fourth quarter ended March 2022 as against Rs 273 crore revenues it posted in the corresponding quarter of the previous fiscal year.

ALSO READ Khadim India’s Q3FY22 results

*As per a Fashion Network report, the net profit of the company declined to Rs 3 crore during the quarter as against a net profit of Rs 11 crore it reported in the year-ago period.

For the financial year 2021-22, the company reported a net profit of Rs 6 crore while its revenue for the year stood at Rs 607 crore.

In its earnings report, the company attributed the drop in revenue and profit to COVID-19 disruptions caused during the first half of the year.

RELEVANT NEWS Khadim India targets Rs 650 crore revenues FY'22

However, Khadim’s sales rebounded during the last two quarters, and it expects growth momentum to continue going forward on the back of its retail expansion.

Khadim expanded its retail presence during the year by increasing its store count to over 780.

It plans to strengthen its retail presence further during the current financial year.

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CREDITS: *A Fashion Network report.

02 June 2022, Mumbai:

Aditya Birla Group appointed PrashanthAluru, Former Executive, Meta and Bain & Company as the new CEO and Co-Founder, TMRW that will acquire as well as incubate over 30 direct-to-consumer fashion and lifestyle brands.

The move is in line with the group’s strategy to launch and back new-age digital ventures, it said in an announcement on Wednesday. The entity mirrors the house of brands model where a parent company acquires or incubates a portfolio of brands across consumer segments.

Aluru will be responsible for setting-up a nimble and agile founding team. Aluru, an alumnus of IIT Kharagpur, comes with extensive experience in digital and technology across strategy, growth and investing, the company said announcing his appointment. He has also served as an angel investor and advisor to several startups, according to his LinkedIn profile.

With the launch of the venture, the company plans to “double down" on its ongoing program attracting new pools of capital.

TMRW will tap into the extensive range of capabilities and networks that the Aditya Birla Group and ABFRL ecosystems provide to emerging and disruptor brands.

27 May 2022, Mumbai:

Los Angeles-based Fashion Brand Forever 21, based in Los Angeles has launched its flagship store at the Sharat City Mall in Hyderabad.

The clothing brand operates as a licensee brand of Aditya Birla Fashion retail limited in India and the SAFTA countries. Its new store offers the latest global trends in comfort clothing.

RELEVANT NEWS Forever 21 opens new store in Delhi

Spread across 4,218 sq. ft. at Sarath City Capital Mall, the store presents trending styles featuring women wear collection including fitted dresses, bodysuits, super crops, co-ords, jackets, satin and handkerchief tops, pop-colored accessories, and footwear and menswear collection ranging from graphic tees, cargoes, denims, shorts, and printed shirts.

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MukeshSoni, Business Head (India), Forever 21 says, Forever 21 brings the newest runway and catwalk trends from Los Angeles to young fashionistas at Forever 21’s hallmark ‘sweet prices.

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26 May 2022, Mumbai:

Online ethnic wear brand Fabricoz aims to expand operations globally.

The brand plans to capture Indian consumers residing in the US, Canada, and Australia.

Incepted six years ago, the online brand allows users to customize Indian outfits from the comfort of their homes through e-commerce and offer an unmatched personalized experience.

ALSO READ Fabricoz expands business to other countries

The online store can be accessed through a browser on a smartphone or computer. The brand has released an Android app on Play Store and iPhone app on Apple App Store for their US and Australian online stores.

Fabricoz offers a unique blend of traditional and new-age fashion wear and a wide but selective range from saris, salwar, Anarkali suits, lehenga cholis, and Indian jewelry, both from Indian Pakistani designers.

It provides customers with 100 percent original brands to ensure they get the best quality products.

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Indian clothing items and Pakistani dresses on the platform are available in various fabrics like velvet, cotton, silk, georgette, and chiffon with elaborate hand and embroidery work, including zari, beads, stone works, thread works, embroidery, etc.

Fabricoz is a trusted, easy-to-use, and loved Indian wear online shopping store for Indian and Pakistani clothes.

Fabricoz’s online store is optimized with state-of-art technology, enabling users to customize their dresses through a virtual interface and custom size forms. It allows them to choose and request any changes they like compared to the model photos shown to them for the products.

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