13th August 2021, Mumbai:

Dollar Industries is looking at revamping its brand logo and operations. With a strong 15 per cent market share in the organized segment, the company is constantly innovating to offer newer and better products. In the pipeline is expansion of the Dollar Woman range and foray into the brasserie segment. Vinod Kumar Gupta, Managing Director, elaborates on these initiatives and the company’s future plans.

What are your product offerings?

Our product portfolio comprises a varied range of products for men, women and kids. It can be divided into five broad categories: Dollar Man, Dollar Woman, Dollar Junior, Dollar Always and Dollar Thermals. We offer over 102 shades of well-fitted leggings for utmost comfort. We have also diversified our Missy range of innerwear to add outer wear. Our products cater to consumers in the age group 18-45 years across varied income groups from economy to premium class.

Tell us about your latest innovations.

Dollar Industries believes, ‘Change’ and ‘Innovation’ are two main keys to success. The brand continues to introduce new and improved version of products based on latest global trend. Recently we installed a 4 MW solar plant at our Tirupur unit as a part of our green mission. We also launched a new athleisure/comfort wear range that blends quality with affordability.

What are the key fabric trends for the season?

Dollar Industries has constantly adapted to changing fabric trends from cotton to supima cotton to Micro Modal fabric to Egyptian cotton. Our MLM Software helps curate innovative patterns and styles as seen from the bold graphic prints in our Force Designer T-shirts, pop colors, shiny waist bands and abstract patterns in briefs and trunks.

Elaborate on your retail spread

We gave an extensive presence across 29 states and operate in over one lakh MBOs across the country. We have also penetrated the overseas market, and are as the highest selling innerwear brand in the UAE and the Middle East. We have operations across Middle Eastern countries including Oman, Basra, Jordan, Qatar, Kuwait, Bahrain, Yemen, Iraq, Myanmar, Nepal, Nigeria and UAE. Now the aim is to assert ourselves in the rest of the world with new market defining collections. We also have an in-house e-commerce platform known as Dollar Shoppe besides a presence across all major e-commerce platforms.

Which do you think is the most important retail channel?

We have a strong offline presence with 97 per cent of our sales generated via brick and mortar stores. However, digitization has been the key during the pandemic. We recognize the potential of online/e-commerce platforms, and are therefore, strengthening our e-commerce operations.

What are your expansion plans?

Our research and development teams continue to map changing consumer trends. With the pandemic giving rise to the new work from home culture, demand for athlesiure has grown exponentially. We aim to expand Dollar Woman range and foray into the brasserie segment.

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11th August 2021, Mumbai:

In Q1 FY2021-22 , the Bombay Dyeing & Mfg Co’s net profit declined 35.28 per cent to Rs 107.91 crore from Rs 166.74 crore in Q4FY2020-21. The company’s income declined 22.13 per cent to Rs 395.39 crore in FY2021-22 from Rs 507.75 crore in Q4FY2020-21.

On annual basis, the company’s net profit declined 16.51 per cent to Rs 107.91 crore in Q1 FY2021-22 from Rs 129.25 crore in Q1 FY2020-21. Total income surged 311.69 per cent to Rs 395.39 crore during Q1 FY2021-22 from Rs 96.04 crore during Q1 FY2020-21.

Bombay Dyeing & Manufacturing Company is the flagship company of the Wadia Group, engaged primarily in the business of Textiles. Bombay Dyeing is one of India's largest producers of textiles.

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9th Aug 2021, Mumbai:

The second wave of COVID-19 has caused losses worth crores of rupees to shopping malls across India. They were able to operate at full capacity for only four months since March 2020. Multiplexes located within malls too have either shut down or running at low capacity since the start of the pandemic.

Shopping malls in India attracted large amounts of foreign investments over the past decade. As per a Money Control report, between 2008 and 2020, both completed and under construction malls attracted investments worth $3.5 billion. Nearly 65 per cent of this was generated in the last three years.

Retail development in India started in the early 1990s. However, most development was restricted to the big cities like New Delhi and Mumbai. The actual revolution in mall culture began in 2000 with new real estate projects announced in Tier II cities like Aurangabad, Nashik, Nagpur, Coimbatore, etc The next decade saw a spurt in malls across these cities. However, 2008-09 the global financial crisis muffled this excitement over malls, forcing developers to sell their spaces and units to investors or retailers to generate liquidity.

Growth of smaller cities to boost malls

Performance of a few shopping malls in India has declined over the last years, creating liquidity challenges for developers. However, bigger players including DLF, Phoenix, Inorbit and Prestige have been able to establish a strong presence with Grade A mall projects.

India’s low mall density provides immense scope for growth over the next few years. The retail sector is likely to benefit from favorable long-term consumption trends and growth of Tier II and III markets over the medium to long term. Encouraged by continued growth in employment across sectors, mall developers are likely to initiate Grade A mall projects in Tier I, II and III cities. These malls will be operated on a revenue sharing basis with established brands.

Opportunities for enhanced social interaction

Over the next few years, shopping malls will evolve into locations providing wholesome shopping experiences. Apart from movies, fine dining, events, family entertainment centres, they will also provide opportunities for enhanced social interaction. New Age technologies such as artificial intelligence (AI) and augmented reality (AR) are likely to become an intrinsic part of business.

Greenfield mall development will continue as new investment platforms between leading developers and large PE partners facilitate investments. Premium shopping malls will continue to attract investments from financial institutes like Blackstone, GIC, etc.

Developers demand higher cap rates

For long, developers have been demanding higher cap rates for malls than offices as retail rentals are more volatile. Mall rentals can vary according their percentage of revenue share and short lease terms. Most Grade A malls have demonstrated higher growth rates compared to stable office assets. Over last five years, mall rents have grown at a CAGR of over 10 per cent compared to office rental growth rate of 5-7 percent. Hence, they need a more competitive cap rate compared to office assets

The growing prowess of middle class is a positive sign for mall developers in India. Though, COVID-19 has temporarily disrupted their development, the mall culture in India is likely to bounce back stronger post pandemic.

10th August 2021, Mumbai:

Lifestyle brand Monte Carlo’s A/W collection is themed ‘conscious clarity’ that embraces the beauty, innovation and opportunity that comes from living with less after pandemic. Monte Carlo, the brand from Oswal Woolen Mills launched in 1984 was earlier, perceived as a winterwear brand. However, over the years it has evolved to become a seasonless lifestyle brand. It went public in 2013 with an IPO that was oversubscribed eight times. Going forward the plan is to launch a new collection with minimalist design. Sandeep Jain, Executive Director, elaborates on the collections, retail operations and future plans.

Give us a peek on your upcoming collection.

Our upcoming collection will focus on comfort and durability. Made with high-quality yarns, the collection will adopt a minimalist design approach. The daily wear range will be designed with hi-tech and performance-focused fabrics for greater durability and versatility. The beauty range will offer simple and consumer-targeted garments. Though the collection will offer minimum cuts, its neck and sleeve styles will be enhanced. It will blend style with comfort through extended ribbed cuffs, rib detailing and tonal contrast trims for outerwear. The color palette will have new core colors like bold graphite, jade green, lazuli blue, bloodstone red along with lower-impact unbleached tones over optic white.

What about the A/W 2021 collection?

The theme for A/W is ‘conscious clarity’ that embraces the beauty, innovation and opportunity that comes from living with less after pandemic. Inspired by traditional tile designs, the collection uses micro-checks, twills and jacquard plaids to create tiled geometric and irregular spaced stripes. It comes in seasonless colors including lazuli blue, jade green, bloodstone red and golden harvest yellow.

The A/W 2021 collection offers five innovative ranges:

Ultra Warm Range: This includes sweats and jackets with embedded rechargeable heat pads to provide body warmth in extreme temperatures.

Featured Range: Introduces neck pillow jackets/sweatshirts and music hoodies for extra comfort while travelling.

Athlesiure: This is defined by yoga wear in two-way stretch and loungewear in sherpa fabrics.

Luxuria: This collection has been crafted from luxurious fabrics. Designed in an Italian studio, the range offers exotic designs and international styles that cater to classy tastes.

Anti-viral range: It’s made with special chemicals to control the growth of bacteria and virus.

What are your latest innovations?

From yarn to fabrication, Monte Carlo constantly innovates with its designs, fabrics and styles. We adopt latest technologies to create consumer-focused garments. Our latest innovation include, helo yarn and Wool blends of polyester and nylon to create dynamic, functional and performance-driven fabrics and products. We are also working with 3D knitted garments and Inverse plating (I- plating technology) in segments like sportswear, casual wear and track suits.

Tell us about the key product lines and bestsellers.

Our product range includes woollens, jackets, sweatshirts, tracksuits, shawls, T-shirts, shirts, trousers, denims, ladies tops, kidswear, athleisure wear and accessories. Our products target all sections of the society and are priced between Rs 800 to Rs 40,000.

What is your retail spread?

We have 294 EBOs, 1,300 MBOs and 800 large format stores across North, Central and East India. We are exploring the Southern and Western markets to expand into leisure and sportswear categories. We also plan to expand our outerwear segment.

What are your future plans?

We aim to double our turnover in next five years.

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9th Aug 2021, Mumbai:

Earlier known as the common man’s material, Khadi has now metamorphosed into a fashion fabric for the sophisticated and elite. The garment has moved away from its humble origin to acquire a new status symbol.

Most Khadi garments in India are sold through Khadi emporiums located across the country. These emporiums are known to sell some high-quality readymade kurtas for men. However, the garments for women are poorly designed. Besides, they are not always affordable even though the emporiums run on government subsidies.

Demand declines as consumers opt for softer fabrics

As per a New India Express report there is vast difference between the Khadi fabric was available earlier, and one currently sold. The khadi sold during the times of Mahatma Gandhi was entirely handwoven. Today, only Ponduru in Andhra Pradesh sells handwoven Khadi. Elsewhere, the fabric is made in a sem-mechanized way.

The Khadi available today also has polyester yarn weaved into it. These yarns make the fabric smoother more colorful. They not only retain the patriotic fervor of the fabric but also make it more elegant and versatile. However, demand for Khadi fabric in India is on the decline as consumers tastes have changed. Instead of the coarser material they are now opting for softer fabrics like mulmul that are kinder to the skin. This has limited Khadi use to the upper echelons of society.

More skill training required

Designer Nalini Sriram believes, Khadi is going the way handloom and even cotton went. Middle class consumers no longer want to wear Khadi and are opting for more synthetic materials. This makes Khadi’s survival difficult. A few designers and organizations are supporting the growth of the fabric. However, its high prices prevent these garments from percolating down to the lower sections of the society. Experts feel, the government needs to encourage more skill training in the sector. It needs to guide NIFT students to create a formidable team of Khadi designers.

Improving accessibility

However, this may not always translate into tangible results, says Bessie Cecil, a textile expert. The recruited members of the Khadi board may run successful labels and have excellent business but they rarely have a proper understanding of the subject. They need to be educated about the benefits of the material.

Khadi also suffers from government apathy as a huge stock often lies unused in emporium’s godowns. It rarely reaches stores across the country. Khadi Bhandars can help solve this problem by making the fabric available to general public, adds Sriram.

5th August 2021

Mumbai-based youth casual wear brand, The Souled Store plans to expand its product portfolio in both licensed merchandize and casual wear. The brand has raised Rs 75 crore in Series B funding for this purpose. The funding round was led by Elevation Capital and its participants included Sahil Barua, Co-Founder, Delhivery; Gunjan Soni, CEO, Zalora and Ashish Goel , Founder, Urban Ladder. Other investors included Rohit Kapoor CEO, INSEA at OYO; Mukund Kulashekaran, SVP-Business, Urban Company and Varun Duggirala, Co-Founder, The Glitch.

The funding would help the brand increase consumer awareness and offline retail presence pan India, expand manufacturing capabilities, and focus on recruiting activities.

Founded in 2013 by Vedang Patel, Aditya Sharma, Rohin Samtaney, and Harsh Lal, The Souled Store is one of the first brands to bring in licensed merchandise and is currently India’s largest fan merchandise destination with licenses including Disney, Warner Bros, WWE, IPL teams, EPL Teams and Viacom18. The company designs, manufactures and retails a wide range of apparel products with designs ranging from pop-culture themes like superheroes (Marvel and DC universes), movies (Star Wars, Harry Potter), TV shows (Friends, Game of Thrones), and cartoons (Looney Tunes, Tom & Jerry), and has partnered with over 150 franchisees.

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11th August 2021, Mumbai:

Iki Chic has launched a new collection of safari prints, ruched designs, a scope of denim, new age tees and tops, jumpsuits, and to wrap things up, rompers.

The clothing label has enlivened the collection through its liberal bohemian development and addresses the boho world's common patterns in the design business. The brand has partnered with renowned e-commerce websites such as Myntra, Amazon Prime, and Flipkar to tap overseas customers.

Offering the best clothing with the right amount of western touch, Iki Chic adds an Indian flair to its dresses. Procuring exact details and the best texture chosen by hand to fulfill current style necessities, the bootstrapped attire brand from Delhi is fabricated and declared by the way of thinking of Absolute Panache, which is idealistic and exquisite.

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7th August 2021, Mumbai:

Kumar Rajagopalan, CEO, Retailers Association of India (RAI) says, permitting malls to operate will not only pave the way for citizens to shop in a safe and sanitized environment but will also save jobs of lakhs of livelihoods the mall ecosystem supports,

The continued closure of malls in Maharashtra due to COVID-19 pandemic is a big blow to business and lakhs of people working there, Rajagopalan added.

He claimed there is a misconception that being air-conditioned spaces, malls could exacerbate the pandemic situation and there is no medical guideline or evidence that prohibits the use of air conditioners in view of the virus.

Malls have been diligently following all standard operating procedures (SOPs) on preventive measures issued by the Union Ministry of Health and Family Welfare to ensure the safety of the staff and citizens.

Malls in Maharashtra generate a business of around Rs 40,000 crore and contribute Rs 4,000 crore in GST, per month. Their prolonged closures are impacting more than 2 lakh people employed in about 50 malls in the state, he added.

 https://www.linkedin.com/feed/update/urn:li:activity:6831182332083412992

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5th August 2021

Walmart-owned Flipkart has vowed to comply with Indian laws, including FDI regulations, and cooperate with the Enforcement Directorate on the notice sent for alleged violation of the foreign exchange law

The notice was issued under various sections of the Foreign Exchange Management Act (FEMA). It was issued to a total of 10 noticees last month that includes Flipkart, its founders Sachin Bansal and Binny Bansal among others.

The notice was issued after completion of investigation and the charges include violation of foreign direct investment (FDI) rules and those that regulate multi-brand retail

The case of alleged FDI rules violation against Flipkart has been under the ED scanner since 2012, and the agency, as per official sources, has found alleged violations of FEMA under various counts including an instance of transfer and issue of security to a person/entity outside India.

Last month, Flipkart raised $3.6 billion in funding led by GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2 and Walmart, valuing the e-commerce giant at $37.6 billion.

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11th August 2021, Mumbai:

Cloudtail India plans to stop operations from May 2022 with the company’s joint venture partners Amazon and N.R. Narayana Murthy-owned Catamaran Ventures not renewing the seven years old partnership next year.

Cloudtail India is a wholly-owned subsidiary of Prione Business Services. Prione is a joint venture between Catamaran and Amazon. The two partners are going to exit from the business at a time when there is stricter surveillance on the operations of the foreign e-commerce marketplaces in the country.

The two partners have mutually decided to not continue their joint venture beyond the end of its current term ending on May 19, 2022.

Indian rules currently prohibit a foreign entity running a marketplace as well as its group companies from equity participation in any of the sellers or having control over their inventory.

As per the RBI norms of 2013, a group company means two or more enterprises which, directly or indirectly, are in a position to exercise 26% or more voting rights in the other enterprise or can appoint more than 50% members of the board of directors in the other enterprise.

As a result, Amazon had to reduce its stake from 49 per cent to 24 per cent in Cloudtail and Appario, the two top sellers on its marketplace.

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In order to meet consumers’ demand for new styles and ranges every season, fashion companies in India need to release new trends every season. A recent report tiled ‘Pulse of the Fashion Industry 2019’ by the Global Fashion Agenda, fashion companies need to keep their supply chain working at full steams to keep up with trends and this may cause a profound impact on the environment.

Sustainability in focus as second-hand sales surge

To counterbalance this negative impact, fashion companies need to implement sustainable solutions at their factories, says the Global Fashion Agenda report. Global pandemic highlighted the importance of sustainability for the fashion industry. As per an Eduindex report, the pandemic impacted all spheres of the industry. It spurred e-commerce growth with online sales booming during the first six months of 2020, Sale of second-hand and recycled clothes, shoes and accessories also surged with many fashion retailers in the US and other countries shipping products to consumers across the world.

The pandemic also led to a decline in apparel shopping. Customers focused on buying essentials as recurrent lockdowns made survival a challenge. In this, scenario, fashion had to take a backseat with shoppers deferring fashion purchases for more sunny days.

Fusion trends back in demand

As the world slowly emerges from this crisis, fashion trends are back to basics. Fusion bridal trends are back in favor as weddings have become intimate and smaller in size. Consumers are opting for mirror lehengas, organza skirts, pre-stitched saris, necklet gowns, dhoti-crop tops in handwoven fabrics and hand-done embroideries made with traditional textile techniques. In turn, this is supporting the growth of local handloom industry and rural artisans in India.

5th August 2021

Amazon India has launched a new specialized center in Hyderabad besides expanding the existing one. Spread over 2 lakh square feet the new fulfillment center will offer more than six lakh cubic feet of storage capacity, housing a wider selection of products from the large appliances and furniture category.

The center will benefit more than 35,000 sellers in the state with access to a larger customer base and the expansion will contribute in creating direct and indirect work opportunities in Telangana while ensuring seamless and faster deliveries to customers, it said.

This expansion marks an increase in Amazon India's infrastructure footprint in Telangana, which now will offer a floor area of close to one million square feet and storage capacity of more than 5 million cubic feet.

The new specialized fulfillment centers will house tens of thousands of products such as air conditioners, refrigerators, washing machines and televisions as well as products from the furniture category, ahead of the upcoming festive season.

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