12 August 2024, Mumbai

Impending sustainability crackdown by the EU is compelling Britain’s largest supermarket, Tesco to introduce digital product passports (DPPs) across its clothing range.

The retailer has agreed to provide shoppers with more information on each item in its F&F fashion range, such as where the materials in each garment were sourced.

The move is a result of Brussels’ efforts to boost supply chain transparency by rolling out new rules forcing companies across the Eurozone to introduce digital product passports (DPPs).

The rules mandate businesses selling everything from toys, fashion to furniture to provide detailed information on not only the materials used in their products, but also their environmental impact.

The scheme is scheduled to be implemented over the next eight years, with campaigners hopeful it will inspire a crackdown on greenwashing and poor supply chain practices.

Andrew Xeni, Founder, Nobody’s Child, an eco-friendly label that has already tested the passports, says, these passports will provide customers with an access to information that would enable them to make an informed buying decision, making them aware of the environmental impact of that product that they’re buying.

The scheme will be accompanied by new requirements on how companies manage their stock, including a ban on destroying unsold clothing. It is likely to cause a massive disruption among fast fashion brands, especially those having faced scrutiny over sustainability, states Xeni. Companies that do not meet the requirements of the legislation will be fined significantly and could even be prevented from selling their goods in the EU.

Joe Little, Head-Technical, Tesco, adds, an important step forward, these DPPs will encourage and promote sustainable and circular practices.

While touted as a boon for consumers, these DPP scheme could lead to conflicting regulations in Northern Ireland’s because of the Windsor Framework, warns European Scrutiny Committee.

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10 August 2024, Mumbai

As a part of its strategy to exit loss-making operations in the capital area, Spencer’s Retail is shutting down its stores in the Delhi-NCR region

The BSE-listed retailer currently operates 18 stores in Delhi, Gurugram, and Noida, including supermarkets spanning 25,000 sq ft and smaller neighborhood stores of around 3,000 sq ft. All of these locations are slated for closure.

In recent weeks, various Spencer’s Retail stores in NCR have been offering significant clearance discounts of up to 70 per cent on a wide range of products, including food, furniture, electronics, and home goods. The company’s hypermarkets typically stock between 15,000 and 20,000 SKUs (stock-keeping units), while the smaller kirana format stores offer 3,500 to 6,000 SKUs, depending on their size.

Spencer’s Retail is also exiting the Andhra Pradesh and Telangana markets, where it has a presence primarily in Hyderabad and the coastal regions of Andhra Pradesh. This follows last year’s withdrawal from the southern markets of Tamil Nadu and Kerala.

With the exit from Delhi-NCR, Andhra Pradesh, and Telangana, Spencer’s Retail will now focus its efforts on Eastern Uttar Pradesh in the north and its home market of West Bengal.

Spencer’s Retail is part of the Kolkata-based RP-Sanjiv Goenka Group, a conglomerate with diverse interests in sectors including power, chemicals, media and entertainment, and sports. The group also owns the Indian Premier League (IPL) franchise for Lucknow.

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09 August 2024, Mumbai

RakshaBandhan, a cherished festival celebrating sibling bonds, is the perfect opportunity to express love and appreciation. This year, elevate your gift-giving with Language's stunning range of handcrafted leather accessories.

Language offers a diverse selection of items, including wallets, belts, and bags, all meticulously crafted by skilled artisans using premium leather. Each piece combines traditional craftsmanship with contemporary style, making them ideal gifts for your sibling.

Highlights from the collection include the elegant Chloe HandBag and the chic Flamingo HandBag. The Chloe tote is designed for functionality and flair, featuring a chord zipper puller, detachable coin pouch, chord sling, card case, and key ring attachment. Made from high-quality flat leather with a fabric lining and golden fittings, it’s available in sophisticated Wine and Black shades, perfect for any occasion.

This RakshaBandhan, choose Language’s top-quality accessories sourced from their own tanneries, ensuring an exceptional blend of style and durability.

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12 August 2024, Mumbai

As luxury shopping gains momentum in India, Reliance Brands (RBL), a subsidiary of Reliance Retail, plans to expand its luxury retail chain, ‘The White Crow’ across India. Currently operational in 12 cities of India, the five-year-old multi-brand retail chain intends to extend to more cities. Capitalising on the model’s scalability to penetrate both metro and mini-metor markets, the retail store chain plans to expand to cities like Delhi, Bengaluru, and Kolkata.

With sizes ranging from 8,000 sqft to 10,000 ft, the White Crow stores offer a curated selection of luxury brands such as Armani, Burberry, Salvatore Ferragamo, Kate Spade, Michael Kors, and Canali. These stores are designed to appeal to affluent consumers through a combination of curated collections, streamlined product categorisation, and mixed merchandising.

As per SusilDungarwal, a retail and mall specialist, the availability of luxury retail destinations in India is limited. The country needs to set up more luxury retail formats to cater to the expanding base of luxury shoppers.

A report by Bain & Company projects, rapid economic growth and an increase in the number of ultra-high-net-worth individuals will drive India’s luxury market from its current size of $25 billion to $90 billion by 2030. This growth prompts large retailers like Reliance Retail to rapidly expand their luxury retail footprint.

Another retailer, Aditya Birla Fashion & Retail, which operates ‘The Collective,’ a luxury store chain with over 30 outlets across the country, each measuring around 10,000-11,000 sqft, plans to add 15-20 more outlets in the next year, reflecting the growing demand for luxury retail spaces.

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10 August 2024, Mumbai

Initially a 100 per cent online fashion brand, Libas is now poised to expand its offline presence significantly under the leadership of Siddhant Keshwani, Founder and CEO.

The brand aims to increase the contribution of its offline operations to 25-30 per cent of its total business. This growth strategy includes opening Exclusive Brand Outlets (EBOs) and partnering with major multi-brand retailers like Shoppers Stop and Lifestyle.

Currently, Libas operates over 500 shop-in-shop formats and has around 16-17 exclusive stores. This year, the brand plans to open approximately 50 EBOs, with an aim to double that number to 100 by next year.

As a digital-first brand, Libas places a strong emphasis on leveraging technology to enhance the customer experience. The brand plans to implement more personalised homepages, showing products based on individual buying trends, explains Keshwani.

Additionally, Libas is committed to creating a seamless omnichannel experience. It is also developing a loyalty program that will be fully integrated across both channels, adds Keshwani.

Libas offers a diverse range of products, including kurtas, kurta sets, bottom wear, dresses, corsets, and lehengas, with plans to introduce new categories. Last year, the brand launched a plus-size collection called ‘Extra Love.’ This season, Libas is set to launch Libas Kids, and is opening a flagship store featuring a unique bridal section dedicated to custom-made bridal wear.

Last year, Libas achieved a significant milestone by reaching Rs 500 crore in revenue. The brand recently secured funding from ICICI Ventures to fuel its offline expansion and invest in technology, focusing on opening new stores and enhancing its D2C website.

With the recent launch of its international website targeting markets in the US, UK, Australia, and the Middle East, Libas is concentrating on building a strong global presence. The brand redefines on a global stage through consistent innovation and a commitment to quality.

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09 August 2024, Mumbai

The Indian handloom industry, with its rich heritage, is facing significant challenges, including competition from synthetic fibers, limited investment, and a decline in the weaver community as younger generations seek more stable incomes. Despite government efforts to support this sector, more is needed to preserve its cultural significance.

Birla Cellulose, part of the Aditya Birla Group, has stepped in with an initiative to revitalize this struggling industry. Partnering with regional stakeholders, they are introducing weavers to sustainable fibers like Viscose, Modal, and Excel. These alternatives offer stability against price fluctuations and preserve the luxurious feel of traditional materials like silk.

Their Liva brand plays a crucial role, enhancing the Indian textile value chain by ensuring a consistent supply of high-quality yarn. Through seminars and hub meetings, Birla Cellulose prepares weavers for future demands, aligning with the "Make in India" vision. The initiative also supports projects like developing Ikat using Excel yarn in Odisha, dyed with natural organic colors.

Birla Cellulose’s efforts have already trained 5,000 weavers across seven states, supplying around 15 lakh kilograms of yarn annually. Their mission is to support the revival of India’s handloom industry by promoting sustainable, biodegradable fibers, ensuring the industry’s future while advancing environmental sustainability.

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12 August 2024, Mumbai

In a significant move to bolster industry and employment in Bihar, the central government has greenlit several key projects to enhance the state's textile sector. State Industry Minister Nitish Mishra announced that the Union Textile Ministry has approved projects aimed at developing the silk industry in Bhagalpur and small clusters in Tekari-Belaganj (Gaya) and Mirachak (Bhagalpur). Additionally, State Handloom Expos in Patna and Gaya have also been sanctioned.

These initiatives stem from a proposal Mishra sent on June 14, 2024, seeking central support for Bihar's textile industry. The approval is expected to attract investment, fortify the industry, and create more employment opportunities across the state.

Union Textile Minister Giriraj Singh commended Mishra for the successful Investor Meet held in Patna on July 17-18, 2024, expressing confidence in Bihar's potential to become a textile hub under his leadership. Representatives from leading textile companies across India attended the conference, further boosting the state's industrial prospects.

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10 August 2024, Mumbai

The Q1, FY25 net profit of Tata Group-company Trent, rose by 126 per cent to Rs 393 crore from Rs 173 crore in the same period last year. The company’s revenue for the quarter increased by 56 per cent to Rs 4,104 crore, compared to Rs 2,628 crore in the corresponding quarter of the previous year.

Emphasising the vast market potential for building brands and operating a direct-to-consumer business model, Noel N Tata, Chairman, Trent, says, the company plans to continue expanding its store presence to be closer to customers and reinforce brand promise

Despite a challenging market environment with heightened competition, Trent has experienced encouraging growth across its various lifestyle offerings. The company continues to focus on delivering consistent and improved value propositions to maintain its relevance to customers.

During the April-June quarter, Trent expanded its retail footprint by opening 25 new stores, bringing its total store count to 228 Westside outlets, 559 Zudio stores, and 36 additional stores across other lifestyle concepts.

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09 August 2024, Mumbai

The 27th Garment Fair was inaugurated today at the Chennai Trade Centre by R Gandhi, Tamil Nadu's Minister for Handlooms and Textiles.

Accompanied by D P Yadav, Principal Secretary for Handlooms and Textiles, Gandhi was honored with a shawl by Organizer President Bharat Sarada.

Running until August 9, the fair features over 350 brands showcasing their latest collections, serving as a vital platform for networking, business opportunities, and insights into market trends in the fashion and textile industry.

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10 August 2024, Mumbai

Japanese apparel giant Uniqlo India’s net profit grew by 25 per cent to 85.1 crore during FY’24 despite its sales growth slowing to 32 per cent, as against the 69 per cent growth it enjoyed the previous year. The company’s net revenues for the latest fiscal year stood at Rs 824 crore, according to its recent filing with the Registrar of Companies (RoC).

Uniqlo, which entered the Indian market in September 2019, initially faced delays in its expansion plans due to the COVID-19 pandemic. The brand currently operates about 13 stores in the country. The slower sales growth in FY24 mirrors a broader trend across the retail sector in India, where growth in segments like apparel, footwear, and quick service restaurants (QSR) has decelerated. According to the Retailers Association of India (RAI), the overall retail sales growth rate remained in the 4-7 per cent range last year, with May and June of this year showing only modest increases of 3 per cent and 5 per cent, respectively.

As reflected in the financial performance of all brands, Indian or international, the market for the industry remained sluggish last year, says Devangshu Dutta, CEO, Third Eyesight. However, any brand that views India as a strategic market for its future growth will weather these ups and downs, he adds.

Known for its functional basics like T-shirts, jeans, and woolen wear, rather than fast-fashion trends, Uniqlo sees India as a key market. As one of the world’s most populous countries, India represents a significant opportunity for apparel brands, particularly as younger consumers increasingly embrace Western-style clothing. Uniqlo emphasises, Indian consumers are shifting from fast fashion to long-lasting essentials and functional wear, making the country one of its top priority markets globally.

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10 August 2024, Mumbai

Lulu Group’s large scale store concept Lulu Hypermarket plans to launch a 1.5 lakh sq ft store within the group’s upcoming mall in Kozhikode. Many of Lulu Group’s malls include a Lulu Hypermarket which retails a broad selection of fast moving consumer goods including beauty and personal care items.

Lulu Group’s upcoming mall in Kozhikode would be its seventh in India. Located in the city’s Manakavu neighbourhood, the mall will house Indian and international fashion and lifestyle brands and entertainment facilities.

Spanning over 3.5 lakh square feet, the mall is spread across three floors. Along with a wide array of fashion and lifestyle labels from India and abroad, the mall will also feature a 400-seat food court with 16 vendors and an entertainment zone for children.

Abu Dhabi headquartered business Lulu Group already runs malls in the Indian cities of Lucknow, Kochi, Thiruvananthapuram, Bengaluru, Palakkad, and Hyderabad, according to its website. The business was founded by Kerala-born entrepreneur M A Yusuff Ali in the year 2000.

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09 August 2024, Mumbai

Indian Terrain Fashions posted a Q1 net loss of Rs 15 crore, widening from Rs 3 crore year-on-year.

Revenue dropped 26 per cent to Rs 68 crore, driven by weak market demand and the discontinuation of boy's wear.

Despite challenges, the company expects a revenue rebound in upcoming quarters.

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