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Apparel 22-04-2022

YKK Joins Ellen MacArthur Foundation Network

22 April 2022, Mumbai:

About the Ellen MacArthur Foundation

The Ellen MacArthur Foundation is an international charity that develops and promotes the circular economy in order to tackle some of the biggest challenges of our time, such as climate change, biodiversity loss, waste, and pollution.

ALSO READ YKK Announces New Collection of Recycled Zippers

About YKK

YKK solves the most complex fastening and attaching challenges. Since the company’s founding in Tokyo in 1934, YKK has continuously set industry standards for quality, innovation, and sustainability in the production of zippers, plastic hardware, hook and loop fasteners, webbing tapes, and snap and buttons.

YKK Corporation has joined the Ellen MacArthur Foundation Network to further demonstrate the company’s commitment to advancing the circular economy.

As YKK has long been a partner to many fashion brands that engage with the Foundation to drive circularity in the fashion industry, becoming a member of the Foundation's Network was a logical step to enable deeper collaboration among various stakeholders.

With the release of the A New Textiles Economy report in 2017, the Ellen MacArthur Foundation brought the impact of the fashion industry into the spotlight and prompted many industry stakeholders to take action in order to unlock the environmental and economic benefits that a circular economy for fashion can bring to the economy, the environment, and society.

YKK has long been working to protect the planet through its products and processes and is further committed to actions and developments that are aligned with the Foundation's circular economy principles.

The circular economy is based on three key principles: eliminate waste and pollution, circulate products and materials, and regenerate nature.

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Apparel 22-04-2022

YKK Joins Ellen MacArthur Foundation Network

Reliance Brands acquires 51% stake in couturier label AJSK

21 April 2022, Mumbai:

Reliance Brands (RBL) has acquired a 51 percent stake in couturiers Abu Jani Sandeep Khosla (AJSK).

The partnership will accelerate the 35-year-old couture house's growth plans in India and across the globe.

It will enable the brand to strengthen India’s position as a creator finest fashion across the globe, believe the two designers.

ALSO READ Reliance Brands: 6th ‘Designer Brand’ acquisition & counting

Based in Mumbai, the couture label Abu Jani Sandeep Khosla is renowned for its classic and elegant designs.

The fashion house features three other labels, Asal by Abu Sandeep, a diffusion, formal, occasion and wedding wear, womenswear label; Gulabo by Abu Sandeep, luxe pret separates, featuring casual and formal wear for women; and Mard by Abu Sandeep, a formal and occasion wear men’s label.

The Mukesh Ambani-controlled oil-to-retail conglomerate, Reliance Brands is expanding its portfolio in the luxury and retail space.

In 2021, it entered a strategic alliance with designer Manish Malhotra’s brand and also made an equity investment in fashion designer Raghavendra Rathore’s company and Abraham & Thakore. At present, RBL operates 680 stores and 916 shop-in-shops in India.

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Apparel 21-04-2022

Reliance Brands acquires 51% stake in couturier label AJSK

Reliance Retail: Consolidates Inner-wear Portfolio

20 April 2022, Mumbai:

Reliance Retail Focussing on Innerwear.

Reliance Retail has bought lingerie brands Clovia, Zivame & Amante as innerwear is set to drive growth within apparel.

New Buys Tailor-made to Help Rel Retail Rule Innerwear Biz.

ALSO READ Reliance Retail Ventures acquires equity stake in Clovia

Reliance Retail looks to fix the price point puzzle to capture a big chunk of the huge market opportunity.

Growth Path
Indian consumer spending on apparel especially innerwear is much lower compared to Asian peers, signalling a significant opportunity for growth.

Moving In
HOW RELIANCE CORNERED THE LINGERIE MARKET
Hush
Clovia
Zivame
Amante
Hunkemoller
M&S
Source: ET Research

RELIANCE'S ARSENAL

What Reliance has acquired are not just brands but online portals.

Ramesh Agarwala, chief financial officer and executive director of innerwear company Rupa & Co, said many offline-only brands have struggled to increase revenue beyond a point.

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CREDITS: ET Dt 20-04-2022 (The news article has not been edited by DFU Publications staff)

Apparel 20-04-2022

Reliance Retail: Consolidates Inner-wear Portfolio

J&K investment offers include textiles & garments

18 April 2022, Mumbai:

J&K got investment offers of over 52,000cr last year.

ALSO READ Apparel demand recovery exceeds pre-COVID levels, say industry leaders

Food processing, textiles, readymade garments, and hotels and hospitality sectors have emerged as the biggest investment catchers in J&K receiving investment proposals worth Rs 52,155 crore in the last year alone.

RELATED NEWS January retail sales restricted to 91 per cent of pre-pandemic levels: RAI

This is in sharp contrast to an overall investment of Rs 14,000 crore that had trickled into the erstwhile state in the 70-year period from 1947 to 2018.

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CREDITS: TOI Dt 18-04-2022 (The news article has not been edited by DFU Publications staff)

Apparel 18-04-2022

J&K investment offers include textiles & garments

Gokaldas Exports: PLI scheme to benefit the company

21 April 2022, Mumbai:

Sivaramkrishanan Ganapathi, Managing Director, Gokaldas Exports says, the newly approved production linked incentive (PLI) scheme will benefit his company from FY24 onwards.

India’s leading garment manufacturer and exporter based out of Bengaluru, Gokuldas Exports has a turnover of over Rs 1,000 crore with a diverse workforce of over 20,000 employees at 23 factories located in the states of Karnataka, Andhra Pradesh, and Tamilnadu.

ALSO READ Gokaldas Exports reports rise in net profit

Ganapathi believes the scheme will boost MMF investments in India.

It will not bring in any benefits for the company in FY23 as it already has a strong order book and expects strong growth during the year.

The Indian government approved 61 companies for the textile production linked incentive (PLI) scheme with investments worth Rs 19,000 crore and an expected turnover of Rs 1.84 lakh crore in 5 years.

It hopes to accelerate India’s textile exports to $100 billion and create 2.4 lakh new jobs during the period.

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Apparel 21-04-2022

Gokaldas Exports: PLI scheme to benefit the company

Tea, Tiruppur: To eye $1 Tn Knitwear Exports During 3 Years

19 April 2022, Mumbai:

Despite shipments surging over Rs 33,000 crore in FY22, the future ahead looks tough for knitwear exporters in Tiruppur as raw material prices have increased due to the pandemic outbreak.

As per the Tiruppur Exporters’ Association, in the last 18 months, prices of cotton yarn increased steadily along with accessories prices.

MSMEs in Tiruppur are being compelled to execute their orders at increased prices, despite incurring losses or getting a wafer-thin margin.

ALSO READ TEA, Tirupur: Knitwear exports contributed 1% of India's exports in FY22

Exporters demand new schemes Raja M Shanmugham, President, TEA says, the crisis needs to be addressed on a war footing.

The Centre needs to announce a new scheme like ECLGS to allow MSMEs to avail of additional credit facility of 10 to 20 percent of the existing limit, he adds.

Knitwear exporters in Tiruppur are being compelled to complete committed export orders for the same price of garments, as buyers are not inclined to increase prices.

Exporters are also facing a decline in the number of orders being placed compared to the corresponding period of last year.

Training workers to match global standards Currently employing 600,000 workers, Tiruppur directly houses the most number of women entrepreneurs and migrant workers from the north and northeast.

The city contributes about 60 percent of total knitwear exports from the country and exports only cotton-based garments.

This offers it ample scope to increase its share in the global market by focusing on value-added and synthetic products, adds Shanmugham. The association plans to construct 100,000 houses for its garment workers.

This would enable laborers to shift permanently from their home villages to these industrial clusters.

The houses will have all required amenities, says TEA.

The association is also training existing laborers to compete with global players like China, Korea, Bangladesh, and Vietnam.

It is seeking the Centre’s help to upskill workers to match global standards. Its primary goal is to enhance current exports turnover to around Rs 1 trillion in another two to three years, adds S Sakthivel, Executive Secretary, TEA.

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CREDITS: The Tiruppur Exporters’ Association

Apparel 19-04-2022

Tea, Tiruppur: To eye $1 Tn Knitwear Exports During 3 Years

MoonRay to organize pop-up shop in New Delhi

16 April 2022, Mumbai:

Womenswear and accessories brand MoonRay plans to hold a pop-up shop on April 23 at the Hyatt Regency in New Delhi held in collaboration with the shopping events business.

ALSO READ MoonRay launches new footwear range

The Sorbet Soiree, the pop-up shop will showcaseMoonRay’ssustainable range of women’s ready-to-wear as well as vegan footwear, gold-plated jewellery, and quirky bags and accessories in Delhi.

The business-to-customer shopping fair will also feature a range of other up-and-coming fashion, accessories, and jewellery brands from across India.

Other participating labels will include Embellish, Oro by J, Adwita, Kpret, GayatriNargis, Ninie, Label Manasi, Rabi, and Moirra among others.

This will be MoonRay’s second pop-up since its launch in December 2021, following a shopping event it held in Bengaluru earlier this month.

The brand also recently launched its Spring/ Summer 2022 collection which mixes western and traditional influences with a fresh color palette.

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CREDITS: Fashion Network report.

Apparel 16-04-2022

MoonRay to organize pop-up shop in New Delhi

Apparel brands & Retailers reluctant to take price hikes

21 April 2022, Mumbai:

Retailers and apparel brands including Lifestyle, Reliance Retail, Raymond, and Woodland said they will either hold product prices or take only marginal hikes despite unprecedented inflation across input costs as it could derail the recovery witnessed over the past few weeks.

"As a retailer, we have taken a stance of not increasing product prices for the next six months since it could affect the positive consumption trend we are seeing now," said Devarajan Iyer, chief executive of departmental store chain Lifestyle International.

ALSO READ January retail sales restricted to 91 per cent of pre-pandemic levels: RAI

Retailers across apparel, lifestyle products, restaurants, and supermarkets are expected to post double-digit revenue growth year-on-year for the March quarter despite a slow start due to the Omicron wave, with the reopening of offices and schools, and weddings driving demand.

Amit Agarwal, group chief financial officer at Raymond, added that the company will look at cost efficiencies and reducing discounting instead of direct price hikes.

India's largest retailer, Reliance Retail, has also decided not to increase the prices of the apparel owned by them fearing it could jeopardise demand generation.

In branded apparel, profitability has been under pressure for more than a year given sharp raw material inflation.

For instance, shoe and apparel maker Woodland managing director Harkirat Singh said raw material prices have gone up by 20-25% in the last 3-4 months, yet the company will not hike prices for the next few months.

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CREDITS: ET Pehal News News Nation India (The news article has not been edited by DFU Publications staff).

Apparel 21-04-2022

Apparel brands & Retailers reluctant to take price hikes

Mall owners, landlords rejoice as rentals surge again after two years

18 April 2022, Mumbai:

It's boom time for landlords across malls and high streets as, after a two-year hiatus, rental rates are again increasing by almost 15-25 percent.

Mall operators expect rental collections to reach pre-COVID levels in 2022-23, says Yogeshwar Sharma, CEO, of Select Citywalk, one of the most popular malls in New Delhi.

In fact, encouraged by the response, some mall owners even plan to increase rentals by 5 percent every year instead of a combined 15 percent after three years, he adds.

ALSO READ DLF Mall of India launches two-week 'Wedding Shopping Festival'

During the last two years, retailers saved nearly 20 percent of their annual lease due to rent concessions offered by mall owners. However, with retail sales outpacing pre-COVID levels, they expect rentals to surge again.

The operator of several malls in the NCR, DLF Retail has already increased rents by 15 percent. In the case of lease renewals, rents have been increased by 20 percent while for new tenants they have been increased by 25 percent, says Pushpa Bector, Executive Director.

Retailers plan expansion to ease margin pressures

For retailers, rents form almost 10 to 15 percent of their monthly sales. High rentals compel them to make maximum utilization of retail spaces. Now, with rents expected to rise again, they expect profit margins to come under pressure.

To resolve this, retailers plan to expand their product categories. This also enables them to control price hikes in offerings. With a dip in COVID cases, retailers expect growth in the March quarter to reach double-digits. They also expect to expand their retail spaces after almost two years.

Leasing to soar past COVID-levels

For retailers, apart from rentals, prices of fuel and other raw materials have surged significantly, affecting overall costs.

Yet, many do not plan to increase product prices as it would affect current consumption, and trends, explains Devarajan Iyer, CEO, of Lifestyle International. Real estate investment firm CBRE expects leasing in India to soar past pre-COVID levels to 5.1 million sq. ft. this year.

This could also boost new store openings by around 25 percent in 2022 compared to the previous year, indicates the firm’s report ‘Real Estate Market Outlook 2022 – India’.

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Apparel 18-04-2022

Mall owners, landlords rejoice as rentals surge again after two years

CMAI FAB Show: Showcases entire supply chain solutions under one roof

15 April 2022, Mumbai:

A one-stop show for apparel manufacturers, the CMAI Fabrics, Accessories, and Beyond (FAB) show was aimed at providing total supply chain solutions under one roof.

Organized from April 11 to 13, 2022 at the Jio World Trade Centre, Mumbai, the show spread over 10,000 sq. mt. featured 250 manufacturers and suppliers of fabrics and accessories, machinery, washing units, packaging units, embroiderers, printers, real estate, and apparel park developers, and software developers.

ALSO READ Covid19 made apparel brands & consumers price conscious

They showcased products and services for the garment industry. Over 12000 garment manufacturers, exporters, retailers with private labels, and traders visited the show over three days.

The show also saw international visitors from eight countries.

In a unique display of collaboration, the show was supported by two of the biggest associations in the fabric supply chain –Fabexa from Ahmedabad, and SGCCI from Surat.

A subsidiary of the Maskati Cloth Market Mahajan, FABEXA participated with nearly 50 members while the South Gujarat Chamber of Commerce and Industry (SGCI) saw the participation of over 45 members from Surat.

RELATED NEWS CMAI Fab Show from April 11-13

Talking about the show, Rahul Mehta, Chief Mentor, CMAI said, “The idea for the show began with a casual discussion within the CMAI committee about the problems garment manufacturers face in trying to locate the right kind of sourcing on various fronts mainly fabrics, accessories, washing units, machinery, and packaging, etc.

We thought it would be a good idea to get everything under one roof.”

Need for more suppliers highlighted

A highlight of the show was the Think Out of the Box Section which included four seminars on topics ranging from Consumer Trends, Technological Developments, and the Global Fashion Landscape. Speakers from across the world including Bangladesh Turkey and the Netherlands participated in the show inaugurated by Darshana Jardosh, Minister of State for Textiles. Jardosh urged the entire textile value chain to work in collaboration with each other to expand across the globe.

The industry also needs to increase the number of suppliers in the value chain, Jardosh added.

India’s cotton prices are almost equal to the world market, Jardosh said. As per the government’s vision, farmers are earning good income from cotton yield. They plan to increase production next year as returns from the crop increase.

Domestic and international presence recorded

Garment sourcing has become as important as garment marketing and manufacturing, affirmed Navin Sainani, CMAI, Chairman Fair Committee for The FAB Show. The show offered one-stop sourcing solutions to all garment manufacturers in India, he added.

The show featured 55 manufacturers of cotton garments from Ahmedabad, 45 manufacturers of MMF fabrics from Surat, a few knitting mills like Arvind, top accessories manufacturers, and traders from Mumbai.

RELATED NEWS CMAI applauds Union Budget 2021-22

It was attended by over 12,000 visitors within a span of three days. International buyers from eight countries, one international participant, and international speakers also attended the show.

Mehta said, “The show is an unqualified success. We are hoping to at least double, this will probably be twice a year.

The venue will depend upon the dates available.” From the next edition, it will be a bi-annual event with the number of visitors expected to double from this year.

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Apparel 15-04-2022

CMAI FAB Show: Showcases entire supply chain solutions under one roof

JUKI & PEGASUS 1st Model by Joint Development M900/DJ series

20 April 2022, Mumbai:

JUKI CORPORATION (Mr. Akira Kiyohara, Chairman & CEO located at Tama-shi, Tokyo, Japan) and PEGASUS SEWING MACHINE MFG CO LTD (Mr. Shigemi Mima, President & CEO located at Osaka-Shi, Osaka, Japan) have entered into a basic transaction agreement on April 26, 2021, to move forward with a business collaboration in the sales and development fields and announce to release the first model by joint development “Differential Lower Feed Safety Stitch Machines and Overlock Machines with integrated Control box M900/DJ series” in April 2022.

ALSO READ PEGASUS and JUKI enter into a fundamental transaction and cooperative sales agreement

The machines are supplied by both companies as part of the “JUKI Smart Solutions” product lineup.

Safety stitch machines and Overlock machines are lined up in M900/DJ series.

Product details： M900/DJ

M900/DJ series are compact sewing machines integrating with a direct-drive motor, control box, and operation panel. Pneumatic lint collector (LC) and presser foot lifter (PL) and operator-friendly LED light is provided as standard. M900/DJ2x can automatically set thread trimming function by detecting the edge of the material with a sensor.

With a safety function to prevent false operation, operators are prevented from mistakenly cutting material and getting injured by false operation.

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CREDITS: Juki (The news article has not been edited by DFU Publications staff).

Apparel 20-04-2022

JUKI & PEGASUS 1st Model by Joint Development M900/DJ series

Athleisure: Breaking a sweat

18 April 2022, Mumbai:

Work-from-home, coupled with an elevated concentrate on health throughout the pandemic, has given new wings to the athleisure attire section, which is projected to keep up momentum even post-pandemic.

Brands on this house are increasing with experiential shops in 2022, to make inroads into tier-II and tier-III cities.

ALSO READ Athleisure, staples one needs to create a comfortable & stylish look

According to Ankur Bisen, senior associate and head (client, meals, and retail), Technopak Advisors, the section witnessed around 15% development throughout the pandemic and would proceed to develop at an identical charge this yr. Analysts peg the Indian athleisure market at over `54,000 crore.

‘Stretching’ past metros

Manufacturers resembling Jockey and Enamor, which began off as innerwear specialists, have seen athleisure change into their fastest-growing section, and at the moment are trying to increase outdoors metros, transferring into tier-II and tier-III cities.

Karthik Yathindra, chief advertising officer, Jockey India – Web page Industries, shares that Jockey Athleisure and Jockey Transfer at the moment are mainstays within the total portfolio, throughout all gross sales channels.

Athleisure varies at the moment and contributes to about 25% of the corporate’s income. “We’re current in about one-fifth of the geography of India, and our goal is to amplify our presence 5 occasions over in our key markets,” he says.

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CREDITS: Financial Express Business Khabar Invest Medium (The news article has not been edited by DFU Publications staff).

Apparel 18-04-2022

Apparel demand recovery exceeds pre-COVID levels, say industry leaders

14 April 2022, Mumbai:

Recovery in apparel demand has exceeded pre-COVID levels in the lifestyle space, says Amit Agarwal, Chief Financial Officer, Raymond.

The average retail prices of apparel have increased from Rs 3,200-3,300 to Rs 3,700-3,800, he adds.

ALSO READ January retail sales restricted to 91 per cent of pre-pandemic levels: RAI

Average apparel prices across stores and exclusive brand outlets (EBOs) have surged almost 20 percent, he adds. Prices of Raymond apparels have also increased. Average expenditure in the wedding industry has increased by 15-25 percent he adds.

Kumar Rajagopalan, CEO, of Retailers Association of India (RAI), affirms, that apparel demand has surged by 12 percent compared to pre-pandemic levels.

The value segment is witnessing a stiff margin pressure while the luxury segment is witnessing a resurgence as marriages are happening and people are once again travelling to places, he adds.

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Apparel 14-04-2022