10 January 2022, Mumbai:

Banno's Swagger, a home and comfort wear company, plans to increase its presence in India by expanding its product offering to appeal to a broader client base. The brand now offers pyjama sets, short sets, robe sets, kaftans, and co-ord sets in its nightwear and loungewear categories. Banno's Swagger plans to add other categories on its web platform in the future months, relying on its low prices to flourish.

"Despite Covid-19's issues, we saw an increasing need for an Indian brand to enter the home wear and loungewear market and build a presence." Banno's Swagger co-founder Shashank Agarwal said in a statement, "This motivated us to establish Banno's Swagger."

"Banno's Swagger has been climbing its way up in the Indian market since its launch, and with that in mind, we will be adding various categories encompassing the complete spectrum of lifestyle Fashion range for modern Indian women targeting the 18 to 25 age bracket," Agarwal added.

Shashank Agarwal and Karan Juneja founded the brand in Surat in December 2020. Since its introduction, it claims to have seen a 20 percent increase in income.

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DAILY NEWS:

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• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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10 January 2022, Mumbai:

With weekend curfews and late evening curbs severely denting business, large retailers and restaurant chains have started negotiating for rental concessions with mall operators and landlords.

Operator of Asia 7, Punjab Grill and the Arful Baker, Lite Bite Foods have written to landlords and mall owners to renegotiate rentals as around 75 per cent of their business has been impacted by the curbs, says Rohit Aggarwal, Director. The company expects business to remain impacted all through January to March.

Similarly, apparel retailers like Benetton, Jack & Jones-retailer Bestseller Retail, Vero Moda, Only, ethnic retailer Biba and Forever New have also begun to negotiate with landlords and mall owners for rental concessions as footfalls at malls in Delhi-NCR have reduced to half.

Finding the right solution

These retailers now plan to approach their landlords and find a right solution, says Siddharth Bindra, Managing Directors, Biba.

They are confident of landlords taking a proactive view of the situation. Kabir Suri, Cofounder, Azure Hospitality, Pratik Pota, CEO, Jubliant FoodWorks and Sagar Daryani, Co-Founder, Wow!Momo, recently drew their landlord’s attention to ‘commercial concerns’ caused by Omicron-led third wave.

They sought complete wavier or rentals, common area maintenance in case of complete shutdown, revenue sharing during restricted operations and rent waivers for three months post reopening of businesses.

Landlords ready to negotiate

Meanwhile, mall executives and landlords have sought one week from retailers before they could commit to these concessions. As these retailers have not yet generated rental bills for January, they were ready for negotiations with retailers, adds Harsh Bansal Head, Unity Group that operates four malls in Delhi.

With cinema halls closed and shops open only on odd-even basis in Delhi, footfalls have reduced by almost 40 per cent. Though retailers will definitely get some concessions, their nature is yet to be decided, adds Abhishek Bansal, Director, Pacific Group.

No rents in case of store closures

Many large retailers such as Reliance Retail and Aditya Birla Fashion incorporated a clause in their annual contract after the second COVID-10 wave that they will not pay rents or pay only in proportion to their actual businesses, if the government passes orders for store and mall closures.

However, many of these concessions are not binding to the parties as no one predicted the third wave in India despite such a strong vaccination drive, says Zorawar Kalra, Managing Director, Massive Restaurants, which operates Masala Library and Farzi Cafe, among others.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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08 January 2022, Mumbai:

Despite several obstacles, many micro and small businesses are thriving and increasing. Swastik Health Wear, established in Delhi, is one such company. The company presently employs over 150 people and wants to invest roughly Rs. 1.50 crore to expand its capacity, generate employment, and expand its product line.

It now has roughly 300 pieces in its product basket, which are divided into three key categories: athleisure clothing, sportswear, and sports accessories. It is now expanding its product line to include performance apparel.

"A large product basket automatically draws more clients," says Rohit Ahuja, the firm's Director. "Adding new items is really crucial." We chose performance clothing since it is a category in which we excel and where we also have customers. Sportswear, in particular, has shown strong growth in recent months.

To keep costs down, Rohit said he sought to make as much as possible in-house, with extra effort; for example, he added, glue is being developed in-house for seamless clothing.

"Common market concerns don't matter much because they are the same for everyone, and the market grows acclimated to them over time." Individual efforts are also very important. We were able to take advantage of the ATUF plan because of our proactive and progressive strategy.

Working in a systematic manner also aided us. The cash constraint will take precedence, but we must handle it," adds Rohit, who anticipates 25% growth following this expansion. The company, which has its own brand and a robust dealer network, also works with other well-known companies.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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10 January 2022, Mumbai:

Value fashion retailer V-Mart Retail does not expect the fresh disruptions caused by the Omicron variant of COVID- to have any significant impact on its revenue in the coming quarters. Over the last few weeks, the company has witnessed a slight drop in footfalls due to the Omicron fear.

Footfalls have dropped below the pre-COVID levels, says Lalit Agarwal, Chairman and Managing Director.

However, demand for apparels has increased as the company caters to the need of basic value apparels of customers, he adds. V -Mart currently operates 300 stores.

The company operates medium sized hypermarket format retail stores that sell clothes, accessories, and footwear for men, women, and kids, cosmetics, luggage, toys, and games, and food, non-food, and staple items.

It recently opened a store in Uttar Pradesh and plans to open another 12-15 stores this year.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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08 January 2022, Mumbai:

Garment Mantra Lifestyle plans to setup a new centralized integrated facility in Surat, Gujarat to efficiently cover the western region and scale up the operations of Poortibesides giving an impetus to its apparel convenience store Price Mantra to strengthen brand visibility in the region.

The proposed integrated facility will not just scale up business operations but also boost the company’s revenues in the next two years. It will also promote brand loyalty by catering to a large customer base.

This facility is dedicatedly planned strategically to build and grow strong revenue models from Poorti: a textile wholesale surplus hub and gradually enhance the presence of Price Mantra: an apparel convenience store model.

Extending upto ~10,000 sqft, the facility is equipped with modern facilities to manage operations efficiently and the management expects to commence operations in this quarter i.e. Q4FY22.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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07 January 2022, Mumbai:

Kankatala Sarees has introduced its first fusion wear collection with its first range of lehengas in 78 years. Twenty-five lehengas are included in the new collection, all of which are handwoven in genuine gold zari.

The firm revealed in a press statement on January 7 that each lehenga, choli, and dupatta set honours handlooms from weaving clusters around India, including Paithani, Kanchipuram, and Bandhani, among others.

The collection costs between Rs 1.5 lakh and Rs 6 lakh ($2,018). From January 10 to 11, the range will debut with an unique exhibit at the brand's 'Queens of Kankatala' shop in New Delhi. Kankatala Sarees' outlets in Andhra Pradesh, Telangana, and New Delhi, as well as its dedicated e-commerce store, would thereafter debut the collection.

In a statement, the firm said, "The edition is an artistic manifestation of Indian weavers where the variety of India's rich culture is embraced harmoniously." "Three distinct handloom techniques from three separate states combine to create a wearable marvel that is a rare occurrence."

Kankatala Appalaraju founded Kankatala Sarees in 1943, and the company presently has 13 physical locations. The firm is now managed by three brothers from the Kankatala family, and the brand attempts to combine current saree trends with traditional workmanship.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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10 January 2022, Mumbai:

Amazon has appealed against the suspension of its deal with the Future Group by the Competition Commission of India's at the National Company Law Appellate Tribunal (NCLAT).

The US e-commerce retailer also filed a special leave petition (SLP) in the Supreme Court against the staying of its proceedings in the Delhi court in an ongoing Singapore arbitration case between Amazon and Future Group until February, 1 citing ICICI's recent order.

Last month, the competition regulator suspended its earlier approval of Amazon's investment in Future Coupons a Kishore Biyani promoted firm. CCI said Amazon hadn't fully disclosed its interest in Future Retail when it sought clearance for the Rs 1,431-crore investment in FCPL.

Amazon, in its latest appeal, claimed that CCI does not have authority to unwind approval after 12 months and in case of any aberration, it attracts a maximum penalty of ₹5 crore. However, CCI ordered a penalty of ₹202 crore.

Amazon also appealed that abeyance or revoking was not a viable punishment given that CCI clearly stated requisite information was given by Amazon, but its interest in FRL should have been emphatically pointed, said a person aware of the development. 

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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07 January 2022, Mumbai:

With newly minted billionaires emerging in India, luxury fashion and lifestyle consumption landscape in the country is slowly taking shape, says Darshan Mehta, Managing Director, Reliance Brands.

He says, the luxury sector in the country is seeing a surge in revenue shopping as more number of fully vaccinated people especially in urban areas is stepping out of their homes. Revenge shoppers represent customers likely to become repeat buyers over the next few years, he adds.

Market getting habituated to international shoppers

Mehta points out, India’s luxury market has become habituated to the well-heeled international traveller and shopper, now getting used to the domestic market in the past one year. These shoppers have discovered prices in the domestic market are comparable to international market.

Also, shopping in domestic market offers them personalized, welcoming and warm experience, not available in the Western shopping arena. These factors are helping to convert die-hard international shoppers into first time Indian ones, who now swear by the joys of shopping in India, opines Mehta.

The pandemic has also raised morality values amongst consumers and has led to a surge in demand for timeless luxury products especially for gifting during weddings. After a hiatus in 2020, the Indian wedding market is back with a bang, making it difficult for Indian designers to cope with scope of business.

Ease of availability fuelling luxury gifting

The luxury gifting market is especially booming with restrictions on all other spends set aside for weddings including number of guests and the size of the event. The easy availability and accessibility has raised consumption of luxury products in the country.

Benefitting from the booming economy, young professionals are diverting their savings into luxury purchases. Internet commerce has made loads of rich and aspirational consumers in the country.

E-commerce driving luxury purchases in the country

E-commerce is fuelling luxury consumption in the country. It is also limiting luxury shopping of customers to their domestic and international travels. Innovative sale channels such as distance selling are gaining importance enabling customers to buy expensive and good quality products.

Early buyers of luxury products are transforming into customers who are now more about confident of themselves and value true luxury.

These customers view luxury as being unique and timeless and a true expression of their own individuality.

Currently, there are around 10 million ready and habitual consumers of luxury with another 25 million increasingly getting addicted to luxury shopping. These consumers are making India an epicenter of global luxury stage, Mehta concludes.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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06 January 2022, Mumbai:

Tirupur Exporters' Association (TEA) on Wednesday appealed to Union Finance Minister Nirmala Sitharaman to announce extension of Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit for another two years to make knitwear garment exporting units, particularly MSMEs, to enhance their competitiveness in the Global Market and sustain in the business.

In a representation to the union minister, TEA president Raja M Shanmugham said the units have been making efforts to come out of the impact caused due to the first and second wave of COVID pandemic and need this financial support to come out of the crisis.

Copies of the representation were sent to Union Minister for Textiles Piyush Goyal.

TEA

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TEA

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage