10 June 2022, Mumbai:

India’s first fabric and design commerce platform Fabriclore has collaborated with Line Fiesta, one of the eminent manufacturers of linen fabrics based out of Mumbai launched under the company ‘Vrijesh Natural’.

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Sandeep Sharma, Founder & Vice President – Operations, says, the alliance, grants Fabriclore100+ SKUs and,connects it with the e-commerce side of the business.

Created by handcraft weavers and printers, Fabriclore’s heritage of handloom fabrics along with its decades-old archives of textiles, serve as design inspirations to create new products.

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As per a *Textile Value Chain report, the company creates its products by mixing handloom weavers, block printers as well as cutting edge jacquard looms and space dyeing machines. This fusion defines its design philosophy, making its collections fresh and unique.

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CREDITS: *Textile Value Chain

07 June 2022, Mumbai:

Men’s occasion wear brand Tasva has expanded its retail presence by opening a new store in Bengaluru.

As per a Fashion Network report, the store has a large glass façade. Its interiors are painted in while and gold with a marble floor and geometric patterned details and has a number of sealing areas for shopping. The store houses Tasva’s entire selection of menswear and accessories, with dedicated sections for for suits, hats, footwear, and more.

Tasva opened its first ever store in Bengaluru after launching in 2021. The brand has since opened numerous stores this year, including its second most recent launch in Hyderabad’s Jubilee Hills in May.

A joint venture between designer TarunTahilianni and Aditya Birla Group, brand Tasva is designed to offer premium traditional wear at more affordable prices. The brand specialises in men’s wedding suits and accessories, designed with couturier Tahiliani’s signature take on heritage opulence.

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.

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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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08 June 2022, Mumbai:

Fashion and lifestyle brand Jaypore has opened its second brick-and-mortar store in New Delhi.

Located within DLF Avenue mall in Saket, the new store houses the brand’s full range of men’s and women’s traditional wear as well as accessories, jewelry, homeware, and other goods.

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The bright, warmly lit store is colored in gold accents with a cream background. It features ornate carved display tables throughout.

The brand’s store in DLF Avenue is located alongside other Indian and international labels including Fossi, Melorra, Nautica, Replay, Tanishq, Vero Moda and Meena Bazaar. Jaypore’s store is located on the first floor of the mall.

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DLF Avenue was previously DLF Place Saket and was revamped as DLF Avenue with a new look, new brands, and curated spaces in a Rs 100 crore transformation in 2020.

Jaypore’srecently also opened a store in Lower Parel, Mumbai. It had already opened another store in the Pheonix Palladium Mall in March this year.

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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.

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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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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.