14 February 2023, Mumbai

Clovia has opened a store in Chandigarh. The new Chandigarh store measures 550 sqft and has a bright, youthful interior. The store which offers a differentiated retail experience to customers retails Clovia’s full range of lingerie, sleepwear, lounge wear, and accessories.

Clovia’s personal care brand Skivia is also available in the new store. This is the lingerie and clothing brand’s second store in Chandigarh, the eleventh in Punjab and the fiftieth overall.

By the end of the 2023 financial year, Clovia aims at having a total of 100 exclusive brand outlets across India. Clovia has also launched a Valentine’s Day collection, which features a range of heart printed sleepwear and lounge wear as well as lace underwear and accessories. Clovia works at introducing the best of styles and products and exceeding expectations every time customers visit the store or shop online.

Tier II and III towns account for 60 per cent of the lingerie and innerwear brand’s business. Clovia started operations about eleven years ago. Bras account for some 65 per cent of its sales while its activewear category accounts for over ten per cent of its revenue in addition to the nightwear category, which accounts for over 15 per cent of the total revenue.

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06 February 2023, Mumbai

Bliss Club plans on opening close to 20 stores in 2023. The stores will be in malls, high streets, and as pop-ups, standalone stores, or as part of multi-brand outlets and will be in cities like Delhi, Mumbai, and Bangalore.

The average store size will be around 400 sqft to 500 sqft where apart from selling its merchandise the brand will plan to use it as a community-building platform by engaging consumers in various activities. An omni experience will be built for customers and the brand will use technology to make that seamless. Currently, stores of the brand are company-owned and company-operated and going ahead the brand plans the replicate the same model as it wants to have full control of the experience. In the next five years, the brand is planning to build its depth and width across various categories like sports bras, outerwear, and maternity wear.

Bliss Club, a women’s activewear brand, founded in 2020, has a vision to enable women to discover the joy of movement and build beautiful and functional products. What began as a personal attempt at making a better pair of workout clothes has now become a revolution to get women across the country to go out, workout and move around more comfortably and freely.

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14 February 2023, Mumbai

VIP’s revenue for the third quarter fell by 12 per cent. Net profit was Rs 5 crores as against a net loss of Rs 2 crores in the year ago period.

VIP Clothing’s results showcase a significant improvement in financial performance in terms of profitability over previous quarters. This was majorly achieved owing to a strategic product mix rationalization by restricting sales of lower margin products and increasing the proportion of higher margin product sales, a strategy which has started to yield preliminary positive results.

The company is focused on improving return on equity and return on capital employed, and this is expected to become visible in the coming quarters, beginning from this one. VIP is at the cusp of a major transformational journey and is currently in the process of implementing a strategy to strengthen its brand and expand its presence globally.

VIP is one of India’s leading intimate apparel companies providing intimate wear to consumers across various segments under different brands. It has a pan-India presence with a very large distribution network. The innerwear brand will launch new products across both online and offline channels. Since the online channel is growing faster and is going to be a key focus area, some products will be launched exclusively online.

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08 February 2023, Mumbai

Myntra has launched Runway Icons. This is a dedicated store on the app, to enable easy discovery of curated premium ethnicwear for its consumers.

With an increased focus on elevating the overall experience and relevance for premium ethnicwear seekers, the store will present shoppers with a selection of customised trends and the latest fashion in the space.

Conceptualised and developed in-house, Myntra’s Runway Icons is a one-stop digital destination that offers customers more than 15,000 styles from brands which include House of Pataudi, Koskii, Suta, Aachho, Odette, Bunaai, Ambraee, Scakhi and Truebrowns.

Runway Icons is for Myntra’s shoppers who have consistently shown a strong affinity towards the premium ethnicwear category. This proposition will offer a carefully curated selection of the most in-trend looks and apparel from the ethnic fashion ecosystem.

With the rising popularity of D2C brands in the ethnicwear space, Runway Icons will give the brands a platform and an opportunity to present their collections in a unique manner to Myntra’s discerning shoppers. Brands and retailers’ focus on ethnicwear is continuously increasing.Demand for ethnic wear and clothes has significantly surged as compared to the last few years.

Consumers celebrating festivals and attending weddings have turned to ethnic wear in a big way.

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 03 February 2023, Mumbai

Prices of clothes and footwear have risen consistently over the last three years in India, contributing majorly to inflation.

During fiscal year 2023, food and beverages, clothing and footwear, and fuel and light were the major contributors to inflation—the first two contributing more this fiscal than in the previous one. Average annual retail inflation for clothing and footwear as a category stood at 1.6 per cent in fiscal year 2020, touched 3.4 per cent in fiscal year 2021 before more than doubling to 7.2 per cent.

In fiscal year 2023, average annual retail inflation in clothing and footwear is 9.7 per cent. The sector was significantly impacted at the onset of the pandemic when mobility restrictions shuttered malls and markets. As a result, retailers were left with held-over inventory; meanwhile, fashion trends changed too prompting consumers to buy more casual clothing. However, with improved mobility, apparel and footwear retailers are now swiftly expanding their footprint.

Large apparel retailers are expected to grow at 25 per cent to 30 per cent this fiscal compared to ten per cent to 15 per cent for their small and mid-sized counterparts. India’s inflation rate peaked in April 2022 at 7.8 per cent before moderating to 5.7 per cent in December 2022 on the back of good monsoons as well as measures that ensured adequate food supply.

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14 February 2023, Mumbai

For the third quarter Lux Industries’ net profit declined by 82 percent. The company’s revenue for the quarter was down by 31 percent as against the corresponding period of the previous fiscal year.

During the quarter, Lux was aggressive in investing in advertisement, brand building activities, capacity expansion, and digital outreach. Its brand Onn launched a new website while another brand Lyra launched an app to connect directly to its retailers to enhance its market reach and build a robust supply chain.

So Lux’s revenue growth was largely muted on account of volatile raw material prices and lower volume offtake due to delayed winter in major parts of the country. Margin profiles largely remained subdued on account of lower volume offtake at the dealer and distributor level, volatility in raw material prices and previously stocked high-cost inventory.

Going forward the company’s objective will be to moderate the quantum of products lying in the distributor network, replenish the sold material with speed, generate higher inventory turns and enhance incremental margins through superior and timely service. Lux Industries operates brands like Genx, Lyra, and Onn, among many others, and is one of the largest players in the hosiery business.

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Garment Technology Expo (GTE) will be held in Ahmadabad, Gujarat, March 2 to 4, 2023. After the inaugural edition in 2019, this upcoming show is being held after the pandemic-imposed gap.

This is a garment technology exhibition and the aim is to help garment factories and other players in the textile supply chain improve productivity, save costs, cut turnaround time and be sustainable. It is slated to be bigger and is expected to have major garment and textile manufacturers of the entire western belt, among its visitors.

The B2B technology trade show will see renowned companies from across the textile and apparel value chain showcasing technologies and innovations in CAD / CAM, sewing, knitting, embroidery, digital textile printing, laundry, quilting, fusing, finishing equipment, spreading and cutting, printing and packaging and hot air seam sealing, etc.

The edition is expected to draw the attention of over 10,000 trade visitors that include apparel brands and labels, garment manufacturers, design studios, export houses, dyeing and finishing companies, consultants, textile manufacturers, textile printing houses, trade body representatives and buying houses etc.

Gujarat is home to major apparel industries which are in Ahmedabad, Surat, Gandhinagar, Baroda, Rajkot, Bhavnagar, Valsad, Vapi, Silvassa and Pali – production locales for well-known clothing brands.

 14 February 2023, Mumbai

Power Sutra offers women customised clothing of all sizes.

The premium clothing brand offers women an extensive selection of top-quality, authentic clothing all over India. Power Sutra provides a specialised clothing line in sizes XXS to 15XL so that women of various shapes and sizes can choose outfits that perfectly match their needs. The brand offers a wide selection of clothing for every occasion, ranging from trousers, tops, evening gowns, sheath dresses, culottes dresses, blazers, jackets, jumpsuits, skirt suits, and pantsuits.

Along with being size inclusive, Power Sutra also has another USP, which is personalisation. It gives customers the opportunity to get their clothes tailor made which perfectly fit and enhance their bodies.

The realm of fashion is an ever-evolving one and sometimes revolutionary things happen. In recent times, the concept of body positivity has been a significant topic in fashion. Body positivity seeks to educate the public on how popular media narratives influence and how individuals perceive their bodies, including how they feel about food, exercise, clothing, health, identity, and self-care. Along with body positivity, the concept of size inclusivity has also emerged.

Designers and fashion brands have started the practice of representing a wide range of body shapes and sizes.

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06 February 2023, Mumbai

Rosso Brunello has opened a store in Lucknow.

The new exclusive brand outlet houses the footwear brand’s selection of formal and evening style designs.The storefront is open, featuring a large square archway with the brand’s logo emblazoned in gold above. The warmly lit interior displays footwear both around each wall and in a central island and a seating area is designed to enable shoppers to comfortably try on shoes. On the left hand side of the store is the brand’s men’s line, featuring leather brogues, slip on shoes, and a number of smart casual options. To the right is the women’s collection with strappy occasion style heels as well as more casual boat shoes, among other designs.

Rosso Brunello offers a curated range of shoes for every occasion, from stilettos to formals. Rosso Brunello has a number of flagship stores across India including in Delhi, Ludhiana, Jaipur, Dehradun, Mumbai, and Kolkata. The brand also retails through a number of shop in shops in select Da Milano stores in locations including Chandigarh and Amritsar as well as on its own e-commerce store.

With western buyers looking at India as a potential supplier, Indian manufacturers are looking at increasing capacities.

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 01 February 2023, Mumbai

Go Fashion’s revenue grew by 24 percent for the third quarter. Gross margin was steady at around 60 percent.

In terms of store expansion, the company added 35 new exclusive brand outlets in the quarter which takes the total count to 604.

The fashion retailer is focused on offering affordable products to its customers. More than 80 percent of its products are priced at less than Rs 1000. The company does not hike prices unless raw material prices fluctuate significantly. For Go Fashion growth is going to be driven by volume and value and value is going to be driven by new product introduction with a slightly higher selling price. The company has seen encouraging same-cluster sales growth, with a volume growth of eleven percent and the hope is for a volume growth of four per cent or five percent in same store sales, going forward.

Go Fashion also has plans to increase its online sales to five percent and take it up to eight per cent or nine percent in the next two or three years.Overall, Go Fashion is focused on providing affordable fashion products to its customers while maintaining strong financial performance.

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