09 November 2024, Mumbai

Operated by Actoserba Active Wholesale, popular online lingerie retailer Zivame widened its net loss for the FY’24 by 34 per cent to Rs 39 crore, as per data from business intelligence platform Tofler.

The company’s sales also registered a steep decline during the period. As per Tofler data, sourced from the Registrar of Companies (RoC), Zivame’s revenue for FY 2023-24 declined by 42 per cent to Rs 193 crore. The company's total expenditure for the year amounted to Rs 234 crore.

Acquired by Reliance Retail in 2020 for approximately $160 million as part of the conglomerate’s expansion into the lingerie and fashion sector, Zivame has faced several challenges in maintaining growth. The company’s market position also received a fillip on account of Reliance’s expansion strategy that also included expansion of other prominent brands like Clovia and Amante.

Highlighting the strategic importance of these investments, Mukesh Ambani, Chairman, Reliance Industries, states, the acquisition of brands such as Kalani kethan, Zivame, Clovia, Amante, and Urban Ladder had fortified Reliance’s market presence.

The Indian innerwear market continues to show growth potential, with Wazir Advisors projecting the sector to expand from Rs 61,091 crore in 2023 to Rs 75,466 crore by 2025. Women’s innerwear and comfort wear accounts for 60 per cent of this market, emphasising the sector's substantial contribution to the overall industry.

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Khadi, the hand-spun, handwoven fabric of India, carries a legacy interwoven with the nation's struggle for independence. More than just a textile, it was a symbol of self-reliance and resistance against colonial rule, championed by Mahatma Gandhi himself. Today, khadi is experiencing a resurgence, not just as a symbol of national pride, but as a fashionable, sustainable, and globally recognized fabric.

A long legacy

Khadi's story begins in the early 20th century when Mahatma Gandhi urged Indians to boycott foreign-made goods and embrace khadi as a means of economic self-sufficiency. The spinning wheel, or charkha, became a symbol of the Swadeshi movement, and khadi, the fabric it produced, became synonymous with the fight for freedom.

Post-independence, the Indian government established the Khadi and Village Industries Commission (KVIC) in 1957 to promote and develop the khadi industry. While khadi remained culturally significant, it faced challenges in keeping up with modern textile production.

A resurgence in the modern era

In recent years, khadi has seen remarkable resurgence, and many factors have been at work behind this growth and popularity.

Growing awareness of sustainable and ethical fashion: Consumers are increasingly seeking alternatives to fast fashion, and khadi, with its eco-friendly production process and emphasis on fair labor practices, aligns perfectly with this trend.

Government initiatives and support: The government has launched various schemes and campaigns to promote khadi, including subsidies, marketing support, and design interventions.

Celebrity endorsements and fashion shows: Prominent figures from various fields have embraced khadi, increasing its visibility and appeal. Fashion designers have showcased khadi collections on national and international runways, demonstrating its versatility and contemporary relevance.

Rising demand for natural and handcrafted products: In a world of mass production, the unique texture and handcrafted nature of khadi appeal to those seeking authenticity and individuality.

Growing global interest: Khadi's unique texture, handcrafted appeal, and sustainable credentials have attracted attention from international brands and consumers.

Table: Khadi’s growth through the years

Statistics reveal, the Compound Annual Growth Rate (CAGR) of khadi sales over the past nine years is approximately 22 per cent. As per industry reports, the projected market size for khadi by 2027 is expected to be around Rs 10,000 crore ($1.2 billion).

Khadi in the world of fashion

Designer Sabyasachi Mukherjee believes, "Khadi is the fabric of India's soul." No wonder more and more Indian designers are increasingly drawn to khadi's unique texture, drape, and versatility. Its natural fibers allow breathability and comfort, while its handcrafted nature lends each piece a distinct character. As designer Ritu Kumar puts it, "Khadi is not just a fabric, it is a philosophy, a way of life."

Ritu Kumar and Sabyasachi Mukherjee have long championed khadi, incorporating it into their signature styles. And younger designers like Rahul Mishra and Anavila Misra have further elevated khadi's status with their innovative designs and global appeal. Mishra opines, “Khadi's beauty lies in its imperfections, its hand-spun, handwoven texture." Global fashion houses like Dior and Gucci too have also experimented with khadi, incorporating it into their collections and showcasing its potential on the international stage. For example, Maria Grazia Chiuri, creative director of Dior, featured khadi extensively in her Fall 2022 collection, showcasing its elegance and versatility in a range of silhouettes. Gucci partnered KVIC to create a limited-edition collection featuring khadi, highlighting the fabric's sustainable credentials and global appeal.

While khadi's future looks bright, some challenges remain. For example, meeting growing demand without compromising the handcrafted nature of khadi is crucial. Protecting the livelihoods of Khadi artisans is essential for the industry's sustainability. Meanwhile, continuously evolving and adapting to contemporary fashion trends will ensure khadi's continued relevance.

By addressing these challenges and continuing to promote its unique qualities, Khadi can weave a brighter future for itself and the artisans who bring it to life. The rise and rise of khadi is not just an economic phenomenon; it is a cultural revival, a testament to the enduring power of heritage and craftsmanship in a rapidly changing world.

The Indian fashion retail sector is witnessing a sizzling growth spurt, with global fast-fashion brands vying for a piece of the pie. Among the key players are international fast-fashion giants like Zara, H&M, Uniqlo, and Gap, all vying for a piece of this lucrative pie. But who's leading the pack, and how are they tailoring their strategies for the unique Indian market?

H&M takes the lead, for now

Currently, H&M seems to be a step ahead. H&M entered the Indian market in 2011, giving them a head start in establishing brand recognition and customer loyalty. A report by Coherent Market Insights pegs H&M as the leader in the Indian fast-fashion market, followed by Zara. This dominance can be attributed to several factors. Firstly, H&M boasts the widest physical presence in India, with over 50 stores compared to Zara's 30 (as of June 2024). Secondly, H&M offers a wider product range, catering not just to women but also men and children, giving it a broader customer base. As H&M's India country manager opines, “In India, we see a strong demand for fashion and value for money, and we are committed to offering our customers the latest trends at the best price.”

Table: Brands and their store network

A growing retail footprint

All four brands – H&M, Zara, Uniqlo, and Gap – are steadily expanding their physical presence. Uniqlo, for instance, witnessed a 60 per cent jump in sales in the past two years and plans to double its store count in India by 2025. Zara and H&M are likely to follow suit. This aggressive expansion indicates the immense potential these brands see in the Indian market.

While all four brands operate in the fast-fashion space, they have subtle differences in their approach:

Zara: Known for its high fashion-inspired designs and quicker turnaround times, targeting trend-conscious young adults.

H&M: Offers a wider variety of clothing for men, women, and children, appealing to families and budget-conscious shoppers.

Uniqlo: Focuses on high-quality basics and innovative fabrics like LifeWear, attracting a more mature audience seeking comfort and functionality.

Gap: Offers classic American casual wear with a focus on denim, targeting a broad customer base.

The Indian fast-fashion market is already quite competitive. Not only are these global giants vying for market share, but they also face competition from domestic players like Fabindia and AND, as well as the growing popularity of online retailers like Myntra and Flipkart.

To differentiate themselves, these brands are focusing on. First an omnichannel strategy that is blending online and offline experiences with features like click-and-collect and mobile shopping apps. They are also taking up sustainability initiatives in earnest. Uniqlo's focus on recycled materials and H&M's garment collection program are examples of efforts to tap into the growing eco-conscious consumer base. Moreover, customization and personalization is also a top priority. Zara's studio concept allows limited edition pieces and tailoring options, while H&M offers personalized recommendations through its loyalty program.

Financial performance a mixed bag

Financial performance varies across these brands. H&M has reported strong growth in India, with a 40 per cent increase in sales over the past two years. Similarly, Zara also saw 40 per cent rise in its topline. Uniqlo has also seen a significant jump in sales, while Gap is facing challenges in some global markets. H&M's success in India highlights the importance of localization. In 2019, they launched a collection featuring saris and kurtas with a modern twist, which resonated well with Indian customers. This demonstrates the power of adapting product offerings to local preferences.

The Indian fast-fashion market is witnessing robust growth, and global giants are well-positioned to capitalize on this. By focusing on a combination of affordability, trend-driven designs, and catering to local preferences, these brands can ensure their continued success in the Indian market. However, the fight for the top spot is likely to intensify, with competition set to become even more fierce in coming years.

23 September 2024, Mumbai

"Good place to be in"

The 19th INTERNATIONAL CONFERENCE ON APPAREL & HOME TEXTILES happened on 14 SEPTEMBER 2024 @APPAREL EXPORT PROMOTION COUNCIL Apparel House, Gurgaon-NCR ended successfully leaving the house enlightened leaving with them a lot of food for thought. The event had a reasonably good number of both regular and 1st-time attendees.

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This annual important event in the apparel industry has made a mark in the annual calendar of events. The event had a bandwidth of bringing to trade attention the aspects of productivity piece, sustainability, and the need to treat employees as in assets/a stakeholder in the changing competitive landscape when India is in a favourable state. 

Icing on the cake was virtual presentation-Changing Global Apparel Manufacturing Dynamics and India’s Positioning made by: David Birnbaum, MD, Third Horizon Ltd

The platform served as an excellent venue for ideation, networking, and the convergence of like-minded individuals.

About OGTC

Established in 2004, OGTC, a cluster-centric approach, is the first of its kind with mission excellence as its motto. Though the members are not physically close, they know that success can only be achieved through collective thinking and cooperation.

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India’s e-commerce giant, Flipkart has reappointed Lydia Jett as an independent member of its board of directors. Marking Jett's second stint on the board, this appointment brings her valuable experience back to the company.

Jett previously served on Flipkart's board from 2017, representing its major investor SoftBank. She stepped down earlier in 2024 after leaving her role as managing partner at SoftBank. Jett's expertise lies in e-commerce and consumer internet, having overseen these sectors for SoftBank. Prior to Flipkart, Jett also held a board position at Snapdeal, a competitor in the Indian e-commerce landscape.

In her second stint at Flipkart, Jett will collaborate with senior Walmart executives who hold seats on the board, as well as Kalyan Krishnamurthy, Group CEO, Flipkart and KekiMistry, CEO, HDFC. Her appointment comes as Flipkart weighs a potential initial public offering (IPO). The company has been restructuring its management team with a focus on achieving profitability in preparation for this potential IPO.

In addition to Flipkart, Jett also holds board positions at Coupang (South Korea) and Ozon (Russia).

24 October 2024, Mumbai

Popular men’s apparel brand co-created by cricket star Virat Kohli, Wrogn aims to offer an immersive and innovative shopping experience to customers through its recently launched flagship store in Bengaluru. Merging creativity with bold fashion choices, the store symbolizes Wrogn’s ethos of individuality and self-expression.

The flagship store showcases Wrogn’s commitment to delivering cutting-edge, on-trend apparel for India’s youth. Known for its vibrant and contemporary designs, the brand has created a space for customers to engage with its unique identity and explore fashion-forward collections.

Founded in 2015 by Universal Sports biz (USPL), Wrogn has rapidly grown into a major player in India’s fashion scene. Headquartered in Bengaluru, USPL has built a reputation for disrupting the industry with brands like Wrogn and Wrogn Active, catering to a growing, style-conscious customer base.

In addition to the store launch, Wrogn recently also secured funding worth Rs. 75 crore (approximately $9 million) from Aditya Birla Digital Fashion Ventures (ABDFVL). This investment increased ABDFVL’s stake in Wrogn from 17.1 percent to 32.84 percent, demonstrating confidence in the brand’s growth potential. This investment will help Wrogn strengthen its position as a leader in India’s fashion industry, offering bold designs and an enhanced retail experience for its expanding fan base.

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12 September 2024, Mumbai

India’s first all-white lifestyle brand, Kingdom of White has introduces 11 distinct shades of white in its latest collection titled, ‘Shades of White. ’Through this collection, the brand offers a fresh take on resort wear with a luxurious yet relaxed approach.

Known for its dedication to timeless elegance, the brand blends sophistication with effortless comfort in this collection. The collection reimagines resort living with a unique palette of white hues, each reflecting different moments of a vacationer’s day. It features soft, drop-shoulder silhouettes crafted from breathable, lightweight fabrics that prioritise both comfort and style.

Designed for modern travelers, the versatile pieces in this collection are perfect for every setting, from serene beach mornings to elegant evening soirées. Their unique designs ensure that wearers can seamlessly transition from casual daytime activities to more refined evening events.

A few of the wardrobe essentials in the collection include sumptuously soft knit tees and impeccably tailored shirts, exemplifying Kingdom of White’s meticulous attention to detail and quality. The collection also offers relaxed-fit bottoms that ensure ease of movement, while the knit tees with their artisanal craftsmanship, clean lines and airy materials, are ideal for sun-filled days. Incorporating unique textures and patterns, the shirts offer a contemporary twist on classic resort wear.

Vineet Haralalka, CEO, Kingdom of White, states, marking an exciting chapter in the brand’s journey, the collection redefinesthe concept of white, It offers an evolving narrative for the discerning man who values elegance by blending premium fabrics with effortless fits. Focusing on thoughtful details and on-trend designs, the collection resonates with the modern traveler’s spirit.

From leisurely strolls on sun-drenched streets to peaceful seaside dinners, the ‘Shades of White’ collection captures the essence of refined resort living. Through this collection, the brand Kingdom of White invites style-conscious individuals to explore a new dimension of white, where simplicity meets sophistication in every piece.

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E-commerce platform Snapdeal has entered into a Memorandum of Understanding (MOU) with Digital India Bhashini, an Independent Business Division established by the Ministry of Electronics and Information Technology (MeitY) within the Digital India Corporation (DIC). This collaboration aims to address India's linguistic barriers in online shopping.

Signed between Bharat Venishetti, Snapdeal and Amitabh Nag, CEO, Bhashini, the partnership seeks to leverage Artificial Intelligence (AI) to develop voice-first technology products and services in nine vernacular languages, enhancing language translation efforts and promoting digital inclusion across India.

HimanshuChakrawarti, CEO, Snapdeal, states, the partnership combinesBhashini’s expertise in language solutions with Snapdeal’s robust e-commerce platform to empower individuals from diverse linguistic backgrounds. This initiative aligns seamlessly with Snapdeal’s mission to enhance accessibility and affordability in online shopping, particularly in Tier III cities and beyond."

An e-commerce company targeting the value price segment, Snapdeal offers products in categories such as home, fashion, beauty, and personal care. Over 90 per cent of the products on the platform are priced under Rs. 1,000, and more than 86 per cent of the orders come from outside metro cities. Over the years, Snapdeal has developed expertise in serving mid-income users who have a budget-oriented approach to spending and primarily access the Internet via mobile phones.

Amitabh Nag, CEO, Bhashini, adds, the innovative use of AI and voice-first technology will help break barriers, foster greater digital participation, and create a more connected and inclusive digital ecosystem for all Indians.

Launched by the Indian Prime Minister in July 2022 under the National Language Technology Mission, Bhashini aims to overcome language barriers, ensuring citizens can access digital services in their native languages. The initiative provides technology translation services in 22 scheduled Indian languages.

A new report by JLL highlights a significant increase in retail space supply across India, due to evolving consumer preferences and a thriving economy. It highlights the vibrancy of India's retail sector with an increase in supply of fresh retail spaces across the country. The report, ‘India Retail: Evolving to a new dawn’, indicates top seven cities viz Mumbai, Delhi NCR, Bengaluru, Hyderabad, Pune, Kolkata, Chennai are set to witness a substantial influx of new retail spaces. This growth is being driven by factors like, rising consumerism, increased institutional participation, and the strategic expansion of both domestic and international retail brands.

Top seven cities take the lead

Explosive growth: Top seven cities Mumbai, Delhi NCR, Bengaluru, Hyderabad, Pune, Kolkata, Chennai are projected to clock in 43 per cent rise in organized retail space by 2027, adding approximately 45 million sq ft through 88 new retail developments. This surpasses the supply witnessed in the past decade (2014-2023), which was around 38 million sq ft.

Shift towards larger centers: The average size of new retail developments is expected to increase by 30 per cent, from 391,099 sq ft to 507,341 sq ft. This indicates a growing preference for larger, experience-led retail centers.

Zonal distribution: North India is expected to lead the fresh supply with a 44 per cent share, followed by South India at 30 per cent. Notably, Tier II and III cities are also experiencing a sharp increase in retail development, with 25 million sq. ft. of new space expected by 2029.

Delhi NCR leads: Delhi NCR is expected to contribute the most to the upcoming mall supply with a 31 per cent share, followed by Chennai with 16 per cent and Hyderabad 14 per cent.

Table: Zonal distribution of upcoming retail spaces

Several factors are driving this retail growth. Experiential retail is one of them. As consumers are increasingly seeking unique shopping experiences, its driving developers to create larger, more engaging retail spaces. Another important catalyst is omnichannel retail strategy being adopted by brands. While online retail continues to grow, physical stores remain crucial for brand building and providing an immersive shopping experience. Moreover, both domestic and international brands are expanding their retail footprint in India, which is pushing up demand for fresh spaces. And ever increasing institutional investment in retail real estate highlights the sector's strong growth potential. In fact, growing confidence in India's retail sector led to institutional investment being almost 44 per cent (2.7 mn sq ft) of new supply in 2023.

Malls vs high streets

While the report doesn't explicitly break down the share of fresh retail space between malls and high streets, it highlights the growing dominance of malls, particularly in major cities. Malls offer a curated experience, a wider variety of brands, and amenities like parking and entertainment, making them attractive to both consumers and retailers. However, high streets continue to thrive in specific locations, offering a more localized and community-driven experience. The upcoming Lulu Mall in Lucknow is a prime example of this trend. Spread across 2.2 million sq. ft., it will be one of the largest malls in India, featuring a wide range of international and domestic brands, a multiplex, a family entertainment center, and a food court with diverse culinary options.

Table: Regional trends

JLL's report underscores the robust growth of India's retail sector. With increasing demand for experiential retail, strong institutional investment, and the entry of international brands, the future of retail in India is good. The ongoing development of larger, more sophisticated retail centers is poised to transform the shopping experience for consumers across the country.

Showcasing an extensive range of athlesiure collections by both Indian and international brands, the Athleisure Fest, currently being held at the Pacific Outlet Mall in Jasola, aims to blend fitness with fashion. The fest is designed to engage shoppers of all ages through various activities that promote a healthy lifestyle.

Shoppers at the fest can participate in activities such as the ‘Cycling Challenge’, ‘Running Squad’, ‘Boxing Challenge’, and ‘Zumba’. Developed in partnership with local yoga centers and gyms, these activities provide professional support and encourage whole-family participation.

To run until July 7, the fest features the latest athleisure wear from renowned brands like Puma, Nike, Reebok, Adidas, Asics, New Balance, and Skechers. The collections include a variety of clothing and accessories, catering to diverse fitness needs and fashion preferences.

Located in New Delhi’s Jasola neighborhood, Pacific Outlet Mall is a project by the Pacific Group, a real estate and mall development company. The mall is home to brands such as American Eagle, Birkenstock, Arrow, CaratLane, and Calvin Klein, among others, and offers year-round discounts.