12th October 2021, Mumbai:

As per the latest figures from leading data and analytics company, GlobalData, the Indian clothing, and footwear market will grow at 21 percent CAGR to reach Rs 2,020 billion ($25.8 billion) by 2025. India’s overall e-commerce sales are expected to grow by 23 percent over the next five years to reach $119 billion.

Myntra will lead growth in online clothing sales with 52 percent growth followed by Nike and Big Bazaar.

Myntra has addressed the issues of sizing and clothing returns through a locally driven supply chain and ‘Style Exchange’ technology that helps shoppers find an accurate size and fit, says Ankita Roy, Retail Analyst, GlobalData.

To make more headway in the market, brands and retailers need to ramp up their digital operations, she adds.

GlobalData’s survey included 500 Indian consumers aged over 16 years and was conducted in early July 2021.

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

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

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11th October 2021, Mumbai:

Leading branded apparel company under the umbrella brand “Monte Carlo, Monte Carlo Fashions. has witnessed a strong demand for the Summer products in recently conducted Trade Show (Spring Summer 2022- order booking) and with sales swiftly moving above or close to pre-COVID levels.

During the second quarter ended September 2021, the company expects strong volume growth and calibrated price increase. This is mainly on account of opening up of economy on the back of reduction in COVID 19 cases and removal of lockdown restrictions in most of the geographies, it added.

The company has strengthened its retail presence in India with the opening of 12 new EBO’s during Q2 FY22; with this, the company has achieved a milestone of 300 EBO’s across 20 states and 4 union territories in India.

Apart from thrust on retail network expansion, the company also accelerated its digital and Omni channels during the quarter.

TOP 5:

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

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

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

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

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

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9th October 2021, Mumbai:

Shahi Exports, India's largest clothing exporter, is recognised for putting a significant emphasis on talent development and employee welfare.

The recent Hunarbaaz Award of the Ministry of Rural Development, Government of India, highlighted this. This prize went to Jhumuri Prashan, Rajeswari, Anusaya Bhoi, Shabnam Khatoon, and Shabnamasha Tuti.

According to the firm, they are women with special needs who were taught at sewing skills training centres.

The Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY) of the Ministry of Rural Development runs these centres in conjunction with the Government of Odisha's Rural Development and Marketing Society (ORMAS) and the Jharkhand State Livelihoods Promotion Society.

The business added, "We welcome these young trainees and wish them all the best for their career at Shahi." Under the auspices of the Ministry of Rural Development, the National Institute of Rural Development and Panchayati Raj, Hyderabad, has established the 'Hunarbaaz Puraskar' of DDU-GKY and Self-Employment Training Institute.

The Ministry of Rural Development hosted DDU-Hunarbaaz GKY's Puraskar Samman event on the occasion of Amrit Ka Amrit Mahotsav. Hunarbaaz Puraskar was given to 66 youngsters from 12 states throughout the nation by the Ministry.

TOP 5:

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

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

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

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

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

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12th October 2021, Mumbai:

A business group met with Textiles Minister Piyush Goyal to discuss the GST rate on clothes and asked for a minimum GST rate. "We had a lively debate with the Minister about the detrimental impact on the whole textile supply chain if the GST was raised from 5% to 12%."

For 85 percent of customers, costs will rise, and MSME will lose market share. "There would be difficulties like an increase in working capital demand," Sanjay Jain, MD of TT Ltd., who was part of the team, said.

Rajesh Masand, President, CMAI, and Rahul Mehta, Chief Mentor, CMAI, were among the delegation members, as were Kulin Lalbhai, Arvind Ltd., and Lalit Agarwal, V-Mart. The delegation argued that the textile sector should have a consistent 5% rate across the whole value chain. The Clothing Manufacturers Association of India (CMAI) has voiced its dissatisfaction and pain.

Industry believes it is concerning that, in order to address a problem that affects just a tiny portion of the industry, the GST Council is proposing raising the costs of approximately 85% of final products to consumers.

It's worth noting that there have been claims that the price of garments and fabrics has risen by 10% in approximately a week as a result of a sharp increase in yarn costs. Furthermore, the increasing cost of gasoline has rendered logistics prohibitively costly.

TOP 5:

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

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

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

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

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

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11th October 2021, Mumbai:

Baby and mom products start-up Miarcus plans to strengthen its offline network by adding five new stores in North India this year and expects to clock double-digit growth annually on the back of its retail expansion.

The brand launched a flagship store in Delhi spread across 650 sq ft at DLF Malls of India. It houses products across multiple categories, serving pregnant mothers and kids up to 4 years of age.

Miarcus Gian Singh, Co-Founder says, after a tremendous response to its online shopping platform, the brand aims to tap into this ever-growing demand for comfort and care for new mommies and their babies.

Garima Kaur, Co-Founder and Head-Offline Sales adds, the brand aims to clock in double-digit growth annually for the next three years. In terms of physical stores, it plans to open three more stores across Delhi NCR apart from one each in Lucknow and Jalandhar by December this year.

Co-founded by Gian Singh, Garima Kaur, and Preeti Chugh, Miarcus generates the majority of its sales by selling its products through its website.

TOP 5:

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

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

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

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

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

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8th October 2021, Mumbai:

The Indian garment sector has requested the government to extend the Interest Equalisation Scheme (IES) on Rupee Export Credit Pre and Post Shipment for another two years. It will help garment exporting businesses, particularly SMEs, improve their worldwide competitiveness and stay in business.

MSMEs received a 5% interest subsidy on pre-and post-shipment rupee export credit, while non-MSMEs received a 3% interest subsidy till September 30, 2021.

In a letter to Piyush Goyal, Union Minister of Textiles, Commerce & Industry, Raja M. Shanmugham, President, Tirupur Exporters' Association (TEA), pleaded for this.

He added that because exporting units do not have a level playing field in the global market when compared to competing countries such as Bangladesh, Vietnam, and Cambodia, the extension of this scheme for another two years, beginning October 1, 2021, is critical.

This will allow exporting units to plan ahead of time and take orders based on their costs.

Because competitiveness is a major requirement for MSMEs (which account for 95% of apparel exporting units) to survive in the global market at a time when India's competitors enjoy a duty-free status in the EU and UK markets, it is becoming increasingly important for MSMEs to have a level playing field and strive to stay in business.

TOP 5:

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

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

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

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

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

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12th October 2021, Mumbai:

According to IBISWorld, the lingerie industry in the United States will be worth US $ 6.20 billion in 2021, with foundation garments or shapewear accounting for 20% of that total.

From 2021 onwards, this market is expected to expand by more than 4.40 percent, owing to changing lifestyles of US women consumers, which has resulted in higher spending on fitness and related accessories, favourably impacting the market growth.

The import value of shapewear in the United States reached US $ 233.41 million in August of this year, representing a 25.23 percent year-over-year increase. Control camisoles, corsets, body shapers, singlets, body briefs, and brassieres are among the goods included in the foundation garments category.

China was the leading exporter of brassieres/foundation garments to the United States, with the US $ 82.07 million (up 25.28%), while Vietnam recorded the US $ 44.58 million, a 57 percent year-over-year increase.

Sri Lanka's increase (4.25%) was modest, with foundation garment exports to the United States totaling the US $ 23.07 million in August of this year.

Bangladesh grew by 216.93 percent year on year in August of this year, shipping the US $ 40.25 million in foundation garments to the United States. Indonesia, on the other hand, performed well in its brassieres shipping to the United States, clocking the US $ 19.10 million in August of this year and recording a 120.95 percent year-over-year increase.

TOP 5:

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

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

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

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

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

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11th October 2021, Mumbai:

Union Budget 2021-22 was revolutionary for more than one reason. Not only did it aim to focus on the six pillars of human development including health and wellbeing, and physical and financial infrastructure but also sought inclusive development for aspirational India. One of the highlights was the announcement of the Rs 4,445 crore MITRA scheme to set up mega textile parks across India over the next five years. The scheme aimed to add more jobs in the labor intensive sector besides making textiles more competitive. The scheme was approved by the Union cabinet recently.

Encompassing all sub-sectors

The proposed integrated textile  parks  will  be  developed  under  joint ventures (JVs) between the  Centre  and  partner  state with the latter holding 51 per cent equity. The parks will be constructed by a master developer who will invite investors to set up production units within the parks. The developer will have all development rights within the park and will acquire the park on a 25-year lease extendible by another 25 years. The Central government will fund the park’s internal infrastructure development besides offering ‘competitiveness incentive’ to the production units in the park.

Deeply fragmented, the Indian textile industry has been unable to scale up due to the past policies including those related to the growth of small-scale industries. The government aims to overcome this hurdle through the MITRA scheme. The scheme will encompass all sub sectors including technical textiles. The duration required to set up each park will depend on the time taken by state government to acquire the required 1,000 acre land. Based on this duration, the government will allocate funds to the textile units for a period of five years. Already, 10 states have evinced interest in the scheme. The government will evaluate all proposals before announcing its final decision.

Individual tax benefits for states

The global competitiveness of Indian textile and garment exports is also impacted by rising logistics costs. The MITRA scheme can help resolve this issue by helping businesses scale up and explore raw materials available in the country, opines Ajay Kumar Mall, Managing Director, Mallcom India.

The textile units to be set up under MITRA scheme will enjoy all benefits offered by the states under their textile policy or under their industrial policy. They will also enjoy tax refund benefits offered by the Centre to exporters under the Rebate of State and Central Taxes and Levies scheme, explains Upendra Prasad Singh, Textile Secretary. The scheme will also cover taxes that do not get refunded in the normal course for exporters. It will offer investors a choice between the ‘competitiveness incentive’, or benefits under the PLI scheme.

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8th October 2021, Mumbai:

Business-to-customer event Jashn Fashion and Lifestyle Exhibition will organize an ‘October Fling’ shopping event in New Delhi on October 28 at Hyatt Regency.

As per Fashion Network, the fair will offers shoppers a wide range of festive wear options for the Diwali and winter wedding season. It will mainly focus on bridge-to-luxury segment of the market and offer both traditional, western, and fusion styles.

The event will have a strict ‘no mask, no entry’ policy and will also follow full health and safety measures in line with local regulations. Stall booking is currently open for interested brands. Actress Rhea Saggu has been roped in to promote the event.

She recently did a photoshoot wearing a magenta and light pink outfit reminiscent of a modern lehenga by Delhi-based designer Pam Chhatwal with makeup by Bhawna Anand. Jashn has held shopping events in New Delhi since 2020. The shopping fair’s most recent edition took place on August 21 at the city’s Park Inn by Radisson.

TOP 5:

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

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

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

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

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

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11th October 2021, Mumbai:

Global sports brand Puma has appointed SmitaBalram as the head of corporate communications for the Indian business. In her new role, Balram will further build Puma’s communication strategy and efforts while driving the PR narrative for the brand.

Balram has over 16 years of extensive experience in print and broadcast journalism. In her previous role, she was associated with financial daily, The Economic Times, where she covered the retail ecosystem and tracked multinationals and large Indian conglomerates. In the past, Balram has contributed to prominent media houses such as TV Today Network, Deccan Chronicle Holdings Ltd., and Deccan Herald where she primarily reported on fashion and lifestyle.

Puma is a global clothing and consumer goods manufacturer that has a huge fan following the world over. Founded in 1948, it is headquartered in Herzogenaurach, Germany. Puma has had many breakthroughs over the years, including the Super Atom, football boots with screw-in studs, its successor, the Brasil, etc.

According to press reports, Puma is also the first to take a look at its environmental impact, focusing on manufacturing its products with recycled material and using more environmentally-friendly manufacturing practices.

TOP 5:

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

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

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

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

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

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8th October 2021, Mumbai:

Business-to-business manufacturing giant based in Ludhiana, Trident Group has launched its own direct-to-consumer (D2C) e-commerce portal – myTrident.com. It features products such as towels, bedsheets, bathrobes, rugs and cushions from the house of Trident Group.

The Trident group began with a solitary unit making high-quality yarn. However, in due course, the group catapulted to become the largest manufacturer of terry towels and one of the largest integrated home textile manufacturers in the world; a feat nonpareil. Today, it has travelled far beyond being a home textile manufacturer, by successfully diversifying into paper, chemicals, energy, etc.

From Punjab to the homes of millions of customers across 100 countries, Trident is on a verge of becoming the most trusted brand that takes conscious care of its customers, employees and all stakeholders.

TOP 5:

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

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

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

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

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

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8th October 2021, Mumbai:

The largest exporter of home textiles after China, India witnessed a significant increase in home textiles shipments this year. As per a Textile Value Chain report, India’s exports of home textiles including blankets and travelling rugs increased to $108.24 million in July 2021 from around $79.01 in June 2020.

Similarly, exports of bed linen, table linen, toilet linen and kitchen linen increased by 81.8 per cent to $1,260 million while exports of curtains, drapes, interior blinds, valances grew 5.20 per cent to $89.35 million. Furnishing exports except for mattresses, also increased to $1,247.32 million from $805.09 million recorded at the end of July 2020.

US, largest importer of blankets and travelling rugs

The US remained the largest destination for Indian export of blankets and travelling rugs. India’s exports of blankets and travelling rugs to the US increased from $9.33 million in the January-June 2020 period to $10.7 million during the corresponding period of June 2021. India’s exports revenues from the US increased from $0.43 in July 2020 to $0.5 million in July 2021.

Australia emerged as the second largest export destination for blankets and travelling rugs from India during the year through its exports declined by 4.9 per cent. In July 2021, India exported $1.74 million worth of blankets and travelling rugs to Australia against $1.83 million exported during July 2020.

Products worth around $1.7 million were exported from India to China, Canada, and Sweden in July 2021 while exports to the UAE increased 13 per cent to $1.56 million during January -July of 2021.

Sharp rise in export of curtains, drapes, interior blinds, valances

India’s exports of curtains, drapes, interior blinds and valances to the US increased 72.71 per cent to $46.51 million in 2021 from $26.93 million in 2020. In both years, the US remained the largest importer in the category.

It was followed by France and Germany with Indian exports to both countries amounting for $6.24 and $5.56 million in July 2021. India’s exports of curtains, drapes, interior blinds and valances to China recorded a marginal increase of 5.2 per cent from January-July 2021.

On the other hand, exports to the UAE dropped 85.51 per cent from $38.37 million in 2020 to $5.56 million in July 2021.

US’ furnishing imports’ share rises

India’s exports of furnishing articles, except mattresses, etc to the US increased to 724.39 per cent by July 2021 from $455.57 million in July 2020. US’s global share in the imports of these products increased to 58.08 per cent. UK’s and Germany’s global share increased 4.95 per cent and 3.49 per cent respectively to $61.72 million and $43.49 million by July, 2021.

The global share of Canada and Australia recorded a massive increase of 94 per cent with imports worth $39.12 million and $37.08 million January-July 2021 period. Imports of UAE and Spain reached $21 million by the end of July 2021. Imports of other countries totaled $235.84 million.

TOP 5:

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

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

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

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

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

Return to homepage