2nd August 2021, Mumbai:

Gokaldas Exports’ total income was Rs 242.98 crore during the period ended June 30, 2021, as compared to Rs 372.67 crore during the period ended March 31, 2021.

Net profit / loss wasRs 2.55 crores as against net profit / loss of Rs 16.03 crores. EPS was Rs.0.59 as compared to Rs 3.55. Total income was Rs 242.98 crores during the period ended June 30, 2021, as compared to Rs 237.29 crores during the period ended June 30, 2020. Net profit / loss wasRs 2.55 crores as against net profit / loss of Rs 4.25 crores. EPS was Rs 0.59 as compared to Rs 0.99.

The company's manufacturing units were completely shut to severely restricted between April 29, 2021 and July 4, 2021. Operations remained shut for most of May 2021 and worked at 30 per cent capacity in June 2021. The company resumed full operations from July 5, 2021.

The company successfully managed to realign its deliveries consequent to the disruption and is in the process of catching up on its first quarter production loss. With a strong order book and units running at full capacity, the company expects to quickly bounce back from the effect of the lockdown in the first quarter.

TOP 5:

1: Aditya Birla Fashion and Retail Limited (ABFRL) posts Rs 347.14 crore net loss in Q1FY22

2: Welspun India, global leader in Home textiles, announced its Q4FY21 results

3: In India, Norlanka Brands introduces Lilly + Sid, a children's clothing line

4: ‘We expect 2022 to be a rocking year for the garment industry’

5: SC reserves verdict on Amazon’s appeal against the Delhi HC order to stall Future-Reliance deal

31st July 2021, Mumbai:

The Supreme Court has reserved its verdict on Amazon's appeal against the Delhi High Court order which had allowed the Rs 27,513 crore Future Retail-Reliance Group deal to proceed.

However, the court has allowed NCLT's proceedings to continue. The verdict of these proceedings will determine the fate of the Emergency Arbitrator's order, passed in a foreign arbitration.

Future Retail maintains that the Code of Civil Procedure governs execution of an arbitral award while Amazon claims that the issue falls under the ambit of the Arbitration Act.

Amazon's appeal claimed that Future Retail's proposed deal with the Reliance Group is in fundamental violation of the core understanding of Amazon’s investments with the Future Group.

Amazon submitted that it had invested Rs 1,431 crore with Future Coupons in 2019 with the understanding that Future Retail won't transfer or sell its retail assets to "restricted persons", including the Reliance Group, without Amazon's consent.

TOP 5:

'Sangam India' plans capacity expansion

Snapdeal capitalizes on the value-shopping trend with new launches every month

Rudra Pratap and Susmitha present 1st ever online tailoring solutions app ‘Cloud Tailor’ targeting fashion industry

Trident Ltd, leading home textile player starts commercial production at expanded capacity

Snapdeal fashion sales zoom in 2021

31st July 2021, Mumbai:

E-commerce giant Amazon witnessed the biggest response for its flagship event Prime Day this year in India.

Prime members shopped from more than a lakh small medium businesses and stores from across 6,800 pin codes, making it the biggest ever sales for small medium businesses on Amazon.

Customers from over 96 per cent pin codes of India placed orders. Prime members shopped from thousands of sellers including artisans, weavers, women entrepreneurs, start-ups and brands, and offline neighborhood stores.

This included sellers from all over India including those from tier III and IV cities. There were new product launches from over 300 top Indian and global brands.

More than 70 per cent of new Prime members shopped from outside of the top ten cities.

Personal computing, beauty, apparel, home and kitchen, smart phones and pantry were among the categories that saw the most success in terms of units sold. Sanitization, health and safety continued to be top priority for members. Brands in health, personal care products and sanitization did brisk business.

Amazon’s voice assistant Alexa answered over three million requests from customers during Prime Day.

Amazon is tapping the booming online retail market as the coronavirus pandemic has accelerated the adoption of e-commerce across the country.

TOP 5:

'Sangam India' plans capacity expansion

Snapdeal capitalizes on the value-shopping trend with new launches every month

Rudra Pratap and Susmitha present 1st ever online tailoring solutions app ‘Cloud Tailor’ targeting fashion industry

Trident Ltd, leading home textile player starts commercial production at expanded capacity

Snapdeal fashion sales zoom in 2021

31st July 2021, Mumbai:

The second quarter profits of Amazon increased by 48 percent from a year ago to $7.8 billion. The company’s total revenues rose by 27per cent to $113.1 billion, $2 billion below most Wall Street forecasts. The results included the company’s earnings from major tech firms.

As per Andy Jassy, CEO, the company focused on delivering goods and services for consumers during the pandemic. Its cloud computing division AWS helped many businesses and governments maintain business continuity. A growing number of consumers turned to Amazon during the pandemic for delivery of goods and services including groceries, and its cloud computing division also helped businesses and consumers stay connected.

Amazon has also been expanding its streaming television and artificial intelligence operations. Over the years, the company has grown into one of the world's most valuable companies with operations in dozens of countries and a market value of some $1.8 trillion and 1.3 million employees.

TOP 5:

• PLI for Textiles: The conundrum of optimising production build up v/s battering exports

• Fabindia launches new sub-brand ‘FabNU’

• Welspun India, global leader in Home textiles, announced its Q4FY21 results

• Gokaldas Exports FY22 Q1 income reaches Rs 242.98 crore

• The fifth Northeast India Traditional Fashion Week is now in progress

31st July 2021, Mumbai:

For the first quarter Shoppers Stop sales grew by 306 per cent. The retail chain’s revenue for the quarter rose by 269 per cent. Omnichannel grew by 295 per cent and private brand volume grew by 96 per cent. Shoppers Stop is India’s leading premier retailer of fashion and beauty brands.

Established in 1991, it has around 89 department stores in 44 cities.

It plans to open over 20 stores across large and small formats in the coming quarters this fiscal year.

Shoppers Stop is evaluating its omni-channel strategy.

The fashion retailer sells products through own e-commerce portal and also has a micro site on Amazon as part of its exclusive partnership with the global e-commerce giant.

Shoppers Stop currently sells exclusively online to Amazon’s nationwide customer base offering its private labels in fashion like Stop, Kashish, Haute Curry, and RS by Rocky Star.

Shoppers Stop was hoping for a steep rise in online sales through its partnership with Amazon and was expecting online to contribute ten per cent from the current 1.5 per cent to the overall revenue.

The personal shopper service is a completely customised shopping experience which curates fashion for customers, schedules an exclusive visit at the store or at the customer’s home with offerings based on requirements.

TOP 5:

'Sangam India' plans capacity expansion

Snapdeal capitalizes on the value-shopping trend with new launches every month

Rudra Pratap and Susmitha present 1st ever online tailoring solutions app ‘Cloud Tailor’ targeting fashion industry

Trident Ltd, leading home textile player starts commercial production at expanded capacity

Snapdeal fashion sales zoom in 2021

31st July 2021, Mumbai:

Global fashion brand Guess has re-launched its retail store in Delhi-NCR with a new athtleisure and handbags collection.

The store located in the DLF Mall of India blends artisanal designs with a minimalistic touch, providing plenty of space for showcasing the brand’s themed total looks and imagery.

The mall in which the store is located offers over 100 global brands attracting shoppers from neighboring cities.

Known for its iconic range of denim, dresses, apparel, shoes, handbags, accessories, etc, Guess is also widely recognized for its sustainability efforts and eco-conscious initiatives such as water-saving practices during denim wash, responsibly sourced materials, and a massive reduction in the use of chemicals. The brand was established in 1981 by the Marciano brothers. Inspired by a European influence, the Marcianos initially launched a stonewashed, slim-fitting jean, the 3-zip Marilyn.

Guess quickly became a symbol of a young, sexy and adventurous lifestyle. Today it is a truly global lifestyle brand with a full range of denim, apparel and accessories offered in over 100 countries around the world.

TOP 5:

'Sangam India' plans capacity expansion

Snapdeal capitalizes on the value-shopping trend with new launches every month

Rudra Pratap and Susmitha present 1st ever online tailoring solutions app ‘Cloud Tailor’ targeting fashion industry

Trident Ltd, leading home textile player starts commercial production at expanded capacity

Snapdeal fashion sales zoom in 2021

For Q1 FY22 that ended June 30, 2021, Aditya Birla Fashion and Retail (ABFRL) posted a consolidated net loss of Rs 347.14crore as against a profit of Rs 137.64 crore posted during Q4 FY21 that ended March 31, 2021.

As per Equity Bulls, the company reported total income of Rs.836.29 crore during the Q1 FY22 as compared to Rs.1,839.24 crore during Q4 FY21 that ended March 31, 2021.

The company reported EPS of Rs.3.81 for Q1FY22 that ended June 30, 2021 as compared to Rs 1.57 for Q4 FY21.

ABFRL posted net profit of Rs 347.14 crore for the period ended June 30, 2021 as against net loss of Rs 407.95 crore for the period ended June 30, 2020.

The company reported total income of Rs.836.29 crore during the period ended June 30, 2021 as compared to Rs 473.39 crore during the period ended June 30, 2020.

The company reported EPS of Rs 3.81 for the period ended June 30, 2021 as compared to Rs 5.28 for the period ended June 30, 2020.

TOP5:

1. Fabindia launches new sub-brand ‘FabNU’

2. Amazon India Q2 profits rise by 48’%

3. Gokaldas Exports FY22 Q1 income reaches Rs 242.98 crore

4. Welspun India, global leader in Home textiles, announced its Q4FY21 results

5. The fifth Northeast India Traditional Fashion Week is now in progress

31st July 2021, Mumbai:

Raymond’s net loss during Q1 FY21-22 that ended June 2021 narrowed to Rs 157.10 crore against a net loss of Rs 247.60 crore during the corresponding quarter of the previous fiscal.

However, the brand’s revenue from operation rose over four-fold to Rs 825.70 crore as against Rs 163.16 crore in the corresponding period of the previous fiscal.

Total expenses increased by 78.54 per cent in Q1 FY 2021-22 to Rs 971.06 crore against Rs 543.87 crore in the previous year.

Raymond was also able to maintain strong profitable momentum in the engineering business as it focused on exports as the domestic market was impacted due to lockdown, said Gautam Singhania, Chairman and Managing Director.

The brand expects consumer demand to pick up in the upcoming festival and wedding season with increased vaccinations.

TOP 5:

'Sangam India' plans capacity expansion

Snapdeal capitalizes on the value-shopping trend with new launches every month

Rudra Pratap and Susmitha present 1st ever online tailoring solutions app ‘Cloud Tailor’ targeting fashion industry

Trident Ltd, leading home textile player starts commercial production at expanded capacity

Snapdeal fashion sales zoom in 2021

The COVID-19 pandemic dramatically spiraled e-commerce purchases in India as more consumers bought goods online during 2020. As per a Techwire Asia report, consumers purchased everything from fast-moving consumer goods (FMCG) to fashion, online leading to a 36 per cent rise in e-commerce purchases volumes in the last quarter of 2020. Retailers also shifted operations online as many new retail trends emerged.

Quick delivery

Shoppers witnessed a rise in the trend of same-day delivery. Businesses providing one-hour deliveries gained immense popularity, especially those in groceries and pharmaceuticals segment. Many retailers refurbished closed stores as local fulfillment centers during the pandemic. This is likely to further boost same-day delivery trend.

Digital payment systems

With 79 per cent Indians opting to go cashless during pandemic, Unified Payments Interface (UPI) emerged as a safe, instantaneous, and contactless form of payment. The payment system allows customers to instantly transfer money between any two parties bank accounts. It is likely to soon take over as India’s most preferred form of payment, whether for online or offline purchases.

Virtual shopping experience

Indian retailers are also using Augmented Reality (AR) to allow customers to virtually try products on before deciding on purchasing them. AR can be used for all products including clothing, accessories, or cosmetics. It is highly convenient for online shoppers as it can also be provided as a service on websites or mobile apps.

Personalized services

Customers prefer to buy from brands offering personalized services. They expect brands and companies to customize products and services according to their likes, preferences, and interests. This can be achieved through efficient data management that enables brands to make the right decisions and ensure a satisfactory customer experience.

Creating mobile optimized content

Indians consume most digital content on mobiles these days either through reading material, social media, video, or music. This has a major influence on their purchase decisions. Most of the content pushed out online today is mobile optimized — including the way ads are served, and the customer’s journey from the ad to the shopping cart.

Tapping potential in smaller towns

Smaller towns offer great potential for e-commerce growth. However, shoppers in these towns do not prefer the online shopping mode. To coax them, retailers need to introduce customized strategies that focus on creating jobs, setting up warehouses, last-mile connectivity, and make vernacular content available. Brands can also install large screen in their stores to enhance the purchase experience. They also need to make digital payment modes available in stores.

30th August 2021, Mumbai:

Mumbai-based Red Scooter International was incepted in 2018 to help struggling brands promote their businesses. Over the years it has evolved into a major fair organizer. The company organizes fairs and with each successive fair footfalls have been increasing leaps and bounds. Ably supported by the brand owners in its endeavor and it has evolved steadily. Girish Sharma, Owner and Vinayak Evra, Partner, talk about the upcoming fairs and plans to sail through difficult times.

How are you facing these challenging times?

We have not been as severely hit as others. However, we have had to be generous with our hotel and other accommodation rates. We have also directed our participants to produce their vaccination certificates or RT-PCR reports at the event.

How many editions of the fair have you organized so far? What was the response? Has COVID impacted participation?

Organized on January 4, 2018, the first Mumbai Garment Trade Fair was a huge success. It encouraged us to organize the second edition on June 2, 2018. In 2018, we organized four fairs followed by another four in 2019. In 2020, we held two fairs in January and one in September.

In 2021, we have organized two fairs till date. Of these, eight fairs were organized in association with our partners and the remaining four were organized by us. Starting with 30 brands as participants, the Indian National Garment Fair has grown to include 122 participants now.

We also organized a fair for the Fabric Suppliers Association in May 2018. We have been approached by associations like the Kidswear Association, Women Wear Association and Ethnic Wear Association to organize fairs.

This year, manufacturers are keen to attend the fairs as COVID has played havoc with their businesses. They are eager to get back to business. However, the number of participants is likely to decline from last year as manufacturers from outside Mumbai are unable to participate.

What are the product categories this year?

We are offering a mixed product basket at the Hotel Orchid. Our product list includes club wear, party wear, casuals, ethnic and formals. These products are available above a certain MRP making it easier for retailers to choose. They offer a complete value for money.

Tell us about the fair at Sahara Complex-- the Mumbai Fashion Week

Since last year, we have been organizing the Mumbai Fashion Week at the Sahara Complex for casualwear brands. It has attracted brands like Spykar, Twills, Grammer, River Blue, Sunnex, Exhile, Got It, Freak Denims, Kozak, Body Mark, Chops Stick and Kuch Kuch on a common platform. Last year, the fair witnessed 8,000 visitors comprising dealers, retailers and buyers. This year, it will welcome only buyers, of which 50 per cent in Mumbai have been vaccinated while the remaining will provide their RT_PCR reports. The fairs are being promoted on all social media channels including Facebook, WhatsApp, Emails, and Instagram.

How do you visualize year 2022 and what are your plans?

We expect 2022 to be a rocking year for the garment industry, and for Red Scooter. We intend to promote Mumbai-based brands in cities like Delhi, Kolkata, Cochin and Ahmedabad. We also aim to organize fairs in these cities to promote local brands. I would also like to start a new fair in January/February to promote women’s ethnic and kidswear. Five years from now, I would like to organize a fair on approximately 5 lakh square feet where I can conduct all my heart’s wishes to match international standards like seminars and fashion shows.

TOP 5:

• SC reserves verdict on Amazon’s appeal against the Delhi HC order to stall Future-Reliance deal

• Shoppers Stop Q1 sales spike up 306 per cent on the back of omni-channel strategy

• ‘India Couture Week 2021’ to showcase India’s top 19 designers

• DLF Mall, Delhi-NCR new store brings back ‘Guess’ to the consumers

• Trident Ltd, leading home textile player starts commercial production at expanded capacity

31st July 2021, Mumbai:

Nineteen of India’s top designers will showcase their collection at the 14th edition of India Couture Week 2021. The event will be organized by the Fashion Design Council of India in in association with Hindustan Times while Archana Aggarwal will be the jewellery partner.

The designers showcasing during the five-day fashion event will include: Amit Aggarwal, Amit GT, Anamika Khanna, Anju Modi, Ashima Leena, Dolly J, Falguni Shane Peacock, Gaurav Gupta, Kunal Rawal, Manish Malhotra, Pankaj & Nidhi, Rahul Mishra, Reynu Taandon, Rohit Gandhi + Rahul Khanna, Shantanu & Nikhil, Siddharth Tytler, Suneet Varma, Tarun Tahiliani and Varun Bahl.

They will present collections digitally on all the FDCI's digital platforms like Instagram, Facebook, Twitter, YouTube, and FDCI website on a pre-set show schedule.

TOP 5:

'Sangam India' plans capacity expansion

Snapdeal capitalizes on the value-shopping trend with new launches every month

Rudra Pratap and Susmitha present 1st ever online tailoring solutions app ‘Cloud Tailor’ targeting fashion industry

Trident Ltd, leading home textile player starts commercial production at expanded capacity

Snapdeal fashion sales zoom in 2021

29th July 2021.Mumbai:

Sangam India is planning a capacity expansion of 32,832 spindles for manufacturing cotton yarn at its spinning unit in Bhilwara, Rajasthan.

The total cost of the project will be Rs 137.25 crores, to be funded partly by term loans of Rs 102 crores and the balance by internal accruals.

Sangam India is the largest producer of PV dyed yarn in Asia at a single location.

It is also a forerunner in manufacturing ready to stitch fabric with an annual capacity of 30 million meters of fabric and 40 million meters of denim. Sangam has more than 2,00,000 spindles and 3000 rotors.

The group has diversified into infrastructure, power, steel and, recently the seamless garment industry.

The group has introduced a seamless garment manufacturing facility with 36 seamless knitting machines that have the capacity to produce 3.6 million pieces a year.

The product range basically comprises garments in various blends such as polyamide, spandex and polypropylene and also natural fibers such as bamboo, cotton and viscose.

The company reported a total income of Rs 41,215 lakhs in the quarter ended June 2021 compared to Rs 11,029 lakhs in the June 2020 quarter.

The company made a profit after tax of Rs 1322 lakhs compared to a net loss of Rs 3217 lakhs previously during the same period.

TOP5:

1. Snapdeal’s fashion sales zoom in 2021

2. Dollar Industries balances employee safety, efficiency while managing sales

3. Veirdo adds plus size to its men's & women's offerings

4. Skechers aims to become largest sportswear brand in India

5. Flipkart appeals to SC against anti trust probe

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