Sportswear giant Adidas is gearing up to establish a cutting-edge Global Capacity Centre (GCC) in the heart of Chennai. This strategic move aligns with the growing trend among multinational corporations, recognizing India's rich pool of software expertise. Spearheading this initiative is Akhil Kapoor, GBS Global Procurement and Head of GBS India at Adidas.

The Global Business Services (GBS) hub is poised to be a pivotal player, focusing on critical processes such as source-to-pay (S2P), financial planning & analysis (FP&A), invoice-to-cash (I2C), and record-to-report. With an ambitious vision, Adidas aims to onboard top-notch talent, enriching the center with high-quality resources over the next five years.

This move by Adidas not only fortifies its global footprint but also marks a significant contribution to the burgeoning GCC ecosystem in Tamil Nadu. Chennai, in particular, is emerging as the ideal hub for such centers, boasting specialized skills at the intersection of technology and domain expertise, coupled with the ability to scale operations seamlessly.

Adidas joins the list of global corporations that have recently established their maiden centers in Tamil Nadu, including UPS, Hitachi Energy, ChampionX, JGC, Ashley, FleetCor, Sagent, and Udemy. This influx of international players underscores the state's attractiveness and enhances its stature as a thriving business destination.

Chennai's allure extends beyond the sportswear industry, as it hosts major players in diverse sectors. Retail giants Walmart and Amazon, have already established their centers in the city. As Adidas steps into the dynamic business landscape of Chennai, it not only enriches its operational capabilities but also contributes to the city's stature as a global business hub. The trajectory of multinational corporations setting up strategic centers in Tamil Nadu is indicative of the region's economic vibrancy and its pivotal role in the global business arena.

Data released by the Ministry of Commerce and Industry shows, India’s kidswear exports declined by 19.38 per cent Y-o-Y to $880.82 million during the January to October 2023 period.

Analysed by Apparel Resources, the data reveals, kidswear exports to key markets such as the US, UK, Germany, and France declined while exports to the UAE increased slightly.

By value, India’s kidswear exports to the US declined by 29.71 per cent to $276.78 million while exports to the UK declined by 18.76 per cent to $136.28 million. India’s kidswear exports to the UAE surged by 2.10 per cent to $69.10 million, by 15.33 per cent to $34.29 million to France, and 36.23 per cent to $29.71 million to Germany.

The drop in India’s kidswear exports can be attributed to the global economic slowdown, particularly in the US and the EU. The experts advise the industry to target more buyers in the GCC region to potentially boost export revenues in the future.

Luxury Indian fashion retailer Pernia’s Pop-Up Shop has launched a multi-brand ‘Bling and Beyond’ womenswear collection at its store in Mumbai. 

 To run until December 28, Pernia’s Pop-Up shop focuses on occasion and wedding wear from desPernia’s Pop-Up shop launches new womenswear collection in Mumbai
igners including Zwaan, House of Eda, and Namrata Joshipura among others. It organises various events across metros to boost its offline footfalls.  

A few of the events organised by the Pop-Up shop include designer meet and greets and themed shopping fairs. Pernia’s Pop-Up Shop stores recently hosted meet and greets with designers Kalista, Jayanti Reddy, Punit Balana, and Prisho.

Launched by designer and entrepreneur Pernia Qureshi, Pernia’s Pop-Up Shop showcases some of the noted luxury Indian fashion brands. Owned by Purple Style Labs, the business is run by entrepreneur Abhishek Agarwal.  

27 December 2023, Mumbai

As 2023 unwinds, the Indian menswear scene paints a picture of a dynamic shift. Gone are the days of kurtas and suits dominating the landscape.

The modern Indian man is breaking free from sartorial shackles, embracing a new wave of comfort, expression, and conscious consumerism. Let's unravel the threads that wove this fascinating narrative:

The Athleisure Invasion

Comfort reigned supreme in 2023, and nowhere was it more evident than in the rise of athleisure. From high-intensity workouts to casual weekend outings, joggers, sweatshirts, and performance fabrics became menswear staples. Sportswear and activewear brands saw a meteoric rise, catering to the demand for stylish yet functional activewear.

Beyond Basics: Experimentation Takes Flight

Men shed their inhibitions and embraced experimentation. Floral prints, bold colors, and unconventional silhouettes found their way into everyday wardrobes. Designer wear and premium brands took the lead, offering a fusion of traditional motifs with contemporary twists. The growing acceptance of gender-fluid fashion also played a role, blurring the lines between "masculine" and "feminine" aesthetics.

Conscious Choices, Sharp Threads

Sustainability and ethical practices resonated with the modern Indian man. Brands like Fabindia and others witnessed a surge in popularity due to their commitment to organic materials, fair labor practices, and handcrafted techniques. Eco-conscious consumers were no longer willing to compromise style for sustainability.

The Rise of Digital Tailoring

Technology has made its mark in the form of personalized online tailoring platforms. Brands like Blackberrys Menswear and others leveraged AI and 3D body scanning to provide custom-made suits and shirts, offering a perfect fit and catering to diverse body types. This convenience factor resonated with a tech-savvy clientele.

The Regional Renaissance

Just as with women's wear, men's wear embraced the rich tapestry of regional Indian traditions. Bandhani kurtas from Kutch, silk shirts from Benaras, and handloom jackets from Andhra Pradesh found their way into contemporary wardrobes. Brands like Manyavar and  Jaypore played a crucial role in reinterpreting these age-old textiles for the modern man.

Challenges and the Road Ahead

Despite the positive trends, the industry grappled with headwinds. Inflation and supply chain disruptions impacted both manufacturers and retailers.

The ever-evolving online landscape, with its fierce competition and demanding customer base, kept brands on their toes.

Moving ahead

But as we step into 2024, the Indian menswear scene is brimming with potential. Brands that can weave together comfort, experimentation, and conscious choices into their narrative will be the ones writing the next chapter of menswear success.

They must cater to the evolving aspirations of the Indian man, who is no longer a silent observer but an active participant in shaping his own style story.

Latest Textile Events

Leading omnichannel retailer FirstCry has witnessed a remarkable financial surge, crossing the Rs 5,000 crore revenue threshold in FY23, marking a 2.4 times increase from the previous fiscal year, as per Entrackr's analysis of the company's recent financial statements.

Notably, the revenue spiked from Rs 2,401 crore in FY22 to Rs 5,632 crore in FY23, emphasizing the company's robust growth. However, this achievement was accompanied by a sixfold rise in losses, reaching Rs 6,316 crore, compared to Rs 2,568 crore in FY22.

Despite its profitability in FY21, FirstCry faces a challenging profitability landscape in FY23. In the midst of these financial dynamics, FirstCry is set to file its IPO papers, targeting a substantial USD 500-600 million fundraise at a valuation of USD 4 billion.

The IPO move coincides with notable transactions involving SoftBank Vision Funds selling additional shares, and influential entities like Sachin Tendulkar's family offices, Ravi Modi, Kris Gopalakrishnan, and TVS group family reportedly acquiring stakes through secondary transactions.

Apparel maker Trent plans to expand its operations by investing around Rs 800 crore this year.

The company aims to capitalise on the consumers' move towards organised apparel retail. One of the company’s premium brand Zudio, has grown substantially over the last few years. The brand sells products priced below Rs 1,000 in Tier II and III cities. The brand’s operating profit grew by 136 per cent per annum over the past four years and currently contributes to 38 per cent of overall operating profit.

With 99 per cent of its stores being profitable, Trent has been able to maintain its store profits. The company directs competes against unorganised and various online retailers. Besides premium apparels, it also operates in the mid to low segments too.

28 December 2023, Mumbai

According to AEPC President Narendra Goenka, the RoSCTL scheme, which gives garment exporters a tax rebate on exports until March 2024, is vital in the midst of global economic instability.

He stresses that the industry should innovate, speed up approvals, expand its market and product range, follow a cluster-based approach, seek investments, and boost its brand image to reach its goal of exporting $40 billion worth of goods by 2030.

Geo-political risk

He also encourages the industry to explore the opportunities of e-commerce and FTAs, adopt sustainable and ethical business practices, and cope with the challenges posed by global conflicts such as Russia-Ukraine and Israel-Hamas, as well as supply chain disruptions caused by attacks on vessels in the Red Sea.

The RoSCTL scheme, which was sanctioned in 2021, covers segments such as garments and made-ups, as well as home textile products.

Latest Textile Events

Fashion designer Neeta Lulla has launched a new bridal collection offering lehengas with two dupatta drapes, saris with trench coats, shararas with corset, pre-stitched saris with belts and phones, and anarkali jackets with ankle length pants.

One of the highlights of this collection is a new amber-yellow raw silk and tulle lehenga called Amulya with a long-sleeved blouse. Adorned with intricate kasa and ek taar resham work, the blouse is embellished with pearl beads, zari, stone, sequin and crystals.

The dupatta of the garment depicts women worshipping the tree, symbolising nature, fertility and the interdependence of all aspects of life, through intricate embroidery.

Another beautiful piece in the collection is a vintage-inspired pearl peach lehenga with sequin florets and dainty crystal embroidery. Known as Moana, the lehenga comes with a sheer basque adorned with katdana and crystal work, finished with butier cutwork at the edges, along with a matching dupatta and a tulle trail.

Embellished with self-color sequin, katdana and beadwork, the Moana lehenga has floral applique work at the bottom. It's blouse has been replaced with a full-sleeve sequin bralette for a cosmopolitan look.

Starting her career in 1986, Lulla initially operated out of a modest studio in Mahim, Mumbai. From designing simpler costumes to being a coveted couturier, Lulla has earned a name as a favorite among brides.