23 February 2024, Mumbai

Zara opened its first brick-and-mortar store in Ahmedabad in the city’s Palladium Mall, measuring over 27,000 sq ft. The store is the brand’s second outlet in the state of Gujarat.

The new Zara store houses the brand’ women’s, men’s, and children’s apparel and accessories collections. The outlet includes a number of technological features to engage shoppers and create a seamless online to offline experience.

The ground floor of the store is dedicated to womenswear. Shoppers can travel up to the first floor of the store via escalators and lifts to browse the rest of Zara’s womenswear collection and its children’s wear line. The second floor of the store is dedicated to Zara Man.

The interior of the outlet has a neutral color palette to keep the focus on the clothing with dashes of natural wood for the furniture. Shoppers can utilise a fitting room reservation service as well as a special area to collect their online orders. The store has been designed to reduce energy and water usage as part of Zara and Inditex’s wider plan of making operations more environmentally friendly.

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Luxury multi-brand boutique Kids Around has launched the exclusive Jacquemus Kids collection in the Indian market. Targeting both boys and girls aged from 4 to 12 years, the collection is priced in the range of Rs 7,500 to Rs 24,000.

Founded with the mission to offer premium global brands for children, Kids Around boasts an array of luxury labels including Hugo Boss, Marc Jacobs, DKNY, Karl Lagerfeld, Michael Kors, and now Jacquemus Kids.

Currently, Kids Around operates boutiques in Chandigarh and Delhi-NCR, with plans underway to inaugurate a new store in Hyderabad in the forthcoming months. This expansion reflects the brand's endeavor to extend its reach and provide exquisite offerings to customers across the country.

Sakshi Arora, CEO & Director, Kids Around India, says, the brand aims to bridge the gap in the Indian market for international labels tailored to children.

Mumbai-based startup women's wear brand, Bold & Bae plans to invest over $1 million in product diversification and international expansion in the next two years.

The brand recently expanded its product range to include premium lingerie and casual wear, catering to a diverse range of shoppers across metropolitan and rural areas. Emphasizsng a direct-to-customer retail approach, it aims to resonate with the modern woman's needs while offering accessible luxury, notes Haresh Motirale, Co-founder.

Smita Thorat, Co-founder, emphasises on the brand's commitment to provide cutting-edge fashion that speaks to women from various walks of life. She highlights, Bold & Bae is dedicated to empowering graduates venturing into entrepreneurship, successful self-empowered professionals, and nurturing mothers seeking a fresh start. Its core philosophy revolves around bridging the existing gap in the Indian market by delivering premium, comfortable women's wear at reasonable prices.

Besides reaches customers through its e-commerce platform, Bold & Bae is also present on several multi-brand platforms such as Myntra, Amazon, Ajio, Meesho, and Flipkart.

Another co-founder, Joyce Motirale emphasises on the brand's aim to offer an extensive range of meticulously crafted clothing made from high-quality international fabrics. By making stylish and comfortable intimate, active wear and casual wear accessible, Bold & Bae seeks to empower women across India, including those residing in Tier II, III towns, and rural areas, enabling them to feel confident and fashionable on every occasion.

The Clothing Manufacturers Association of India (CMAI) predicts a staggering loss of Rs 5,000-7,000 crore for MSME apparel manufacturers in the January-March quarter.
This forecast comes as a consequence of an amendment to the Income Tax Act, mandating payments to MSMEs within 45 days. The association attributes this loss to retailers canceling orders with MSMEs and favoring non-MSME players due to the stringent payment terms.
Traditionally, the retail industry operates on a credit cycle spanning 90-120 days, sometimes stretching to 180 days. However, an amendment introduced last year, Section 43B(h), stipulates that payments to MSMEs beyond 45 days are considered taxable income until settled.
This amendment poses significant challenges for retailers, prompting discussions on returning unsold merchandise to manufacturers to avoid payment obligations.
Rahul Mehta, Chief Mentor at CMAI, elucidates that retailers are likely to shift orders away from MSMEs to evade compliance with the 45-day payment window.
In response, the CMAI has petitioned Union Finance Minister Nirmala Sitaraman, advocating for a phased reduction in credit days over three years. They propose a gradual transition to a maximum credit period of 90 days by March 2025, 60 days by March 2026, and finally 45 days by March 2027.
Acknowledging the government's efforts to address MSME challenges, the CMAI emphasizes the need for sector-specific considerations, highlighting concerns like order cancellations. The association underscores the importance of fostering a transparent and compliant business environment while navigating the complexities of the garment sector.

23 February 2024, Mumbai

IKEA has announced the closure of its store located in R-City Mall in Mumbai, citing a failure to meet the company's expectations regarding its Swedish home products and furniture retail experience.

Spanning 72,000 sq ft on the third floor of the mall, the store commenced operations in July 2022 as part of IKEA's initial venture into smaller format stores in India, designed to enhance its omnichannel approach.

According to IKEA, this strategic move aligns with their vision of streamlining and accelerating retail operations in the country, emphasising the pursuit of a leaner business model.

Emphasising on its commitment to the Mumbai market, despite the closure, the company says, the store’s closure allows it to consolidate Mumbai operations to IKEA Worli, IKEA Navi Mumbai and online presence while exploring newer opportunities for future growth.

Further it expressed intentions to transform the Navi Mumbai site into a thriving retail hub.

In light of the closure, IKEA assured that all over 100 employees from the R-City location will be retained and transferred to other operational centers across Hyderabad, Bengaluru, and New Delhi. The company also disclosed plans to commence online sales in these cities later in the year, further underscoring its dedication to its workforce and its strategic expansion goals.

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Marking a step towards vertical integration within the textile industry, Kraig Biocraft Laboratories (KBLB) has created a premium yarn for luxury apparel. This unique yarn combines Pima cotton with recombinant spider silk.

Crafted to unite the finest cotton with the extraordinary properties of spider silk, the composite yarn promises a 100 per cent natural fiber solution for fabrics and garments. Kraig Labs meticulously engineered this innovation in collaboration with a renowned spinner specialising in top-tier cotton yarns and fabrics.

Guided by textile consultant Jeff Dorton, the company rigorously explored various spinners before settling on the ideal partner. The selection hinged on the spinner's technical prowess and robust production capabilities.

Kim Thompson, Founder and CEO, says, this inaugural composite yarn blends the luxurious Pima Cotton with the company’s silk, accentuating the inherent elegance of both fibers. As KBLB gears up for the Spring production trials, pinpointing these initial markets and applications for silk at commercial scales stands as a pivotal objective for its team.

The debut of the cotton-spider silk blend targets upscale segments like luxury dress wear and apparel. Kraig Labs is actively exploring additional blends incorporating spider silk and natural fibers to cater to various sub-segments within formal wear.

While luxury and fashion remain primary focuses, the company maintains a steadfast commitment to advancing technical applications for its spider silk materials across defensive textiles, composites, and performance apparel.

The unveiling of this premium yarn signals Kraig Labs' dedication to innovation and its vision of reshaping the textile landscape with sustainable, high-performance materials.

An iconic brand synonymous with Indian elegance and heritage, Singhania's, has opened a dedicated second floor showroom at their prestigious Banjara Hills location. This new haven caters to discerning clients seeking a seamless fusion of tradition and contemporary style, offering an exquisite array of ready-to-wear garments.

For generations, Singhania's has been a champion of India's vibrant handloom traditions. To ensure the highest standards and support local communities, they've meticulously built printing, embroidery, silk spinning units, and more.

Handpicked directly from artisans across the nation, the second floor collection boasts a captivating range including opulent bridal lehengas, reception gowns, salwar suits and Kurtas.

Singhania's also offers bespoke service to its clients. The brand has in-house fashion designers and experts who collaborate with clients to bring their sartorial dreams to life.

Singhania's showroom remains a beacon of luxury, elegance, and tradition in the global fashion landscape. The brand’s commitment to preserve India's rich textile heritage while embracing contemporary trends ensures they remain relevant for generations to come.

15 February 2024, Mumbai

India's vibrant fashion scene is shadowed by a dark secret: a thriving trade in fake branded garments and accessories. This illicit industry, often euphemistically called ‘first copies', deceives consumers and inflicts losses on legitimate brands.
Scale of the problem
As per the FICCI Report, 2022, the counterfeit market in India accounts for 25–30 percent of all goods sold, with apparel being the top category.

This translates to a staggering Rs 1.5 lakh crore ($20 billion) annually, as per Confederation of Indian Industry estimates.

Interesting data-point

Apparel, footwear, and watch bags are the most counterfeited categories, accounting for almost 31 percent, as per some estimates. Studies reveal a 10-15 percent annual growth in the counterfeit market, highlighting its persistent nature.
Popular brands and luxury labels like Louis Vuitton, Gucci, and Chanel are frequently imitated, alongside domestic brands like Killer and Mufti.

Much more to it

As per news reports, in March 2021, authorities in Delhi seized a massive haul of counterfeit Gucci bags worth Rs 20 million, highlighting the scale and profitability of the fake market.

Similarly, the Delhi Police seized two crore worth of fake garments from a factory, highlighting the scale of domestic production. Several e-commerce platforms have faced legal action for hosting sellers of counterfeit goods.
At the grass-root of the problem

Studies show, China is the primary source of these fakes, followed by Thailand and Vietnam. Offline markets like Gaffar Market (Delhi) and Vardaan Market (Kolkata) are major hubs for retail.

Street vendors and even some smaller brick-and-mortar stores contribute to the problem. E-commerce platforms, despite efforts to curb the issue, still host vendors selling fakes.

Direct sellers on platforms like Instagram offer "first copies" discreetly.
The primary reason for buying fakes is their significantly lower price, often a fraction of the original brand's cost.

Findings; Mostly popular among young adults, 18–35 years old are the major buyers, followed by middle-aged consumers. What makes them attractive is their affordability and brand names. Lack of awareness about ethical implications is a major motivator.
Combating the issue
Counterfeiting harms legitimate businesses, leading to job losses and reduced tax revenue. Fakes often use inferior materials and lack ethical production standards, raising safety and health concerns.

Legal piece

Counterfeiting also exploits intellectual property and fuels organized crime.
And the issue needs to be combated at various levels. One way is through increased crackdowns and stricter penalties.

Stronger legal frameworks and harsher penalties are crucial to deterring the production and sale of fakes. Educating consumers about the ethical and legal implications of buying fakes is essential. Companies need to invest in robust anti-counterfeiting measures.

Burning issue

Brands need to invest in anti-counterfeiting measures like holograms and track-and-trace technologies.

They also need to collaborate with online platforms to curb the menace.
Combating India's counterfeit fashion market requires a multi-pronged approach.

By understanding the scope, motivations, and distribution channels, stakeholders can work together to protect consumers, legitimate brands, and the Indian economy.

India's Fashion Fake: 3 Key Insights:

1. Billions lost, 31% apparel fakes: Countfeit fashion steals Rs 1.5 lakh crore, with clothes, shoes, and bags most copied.

2. Gucci to Gaffar Market: Big brands and local labels imitated, sold online and offline, with China as a major source.

3. Affordability & ignorance fuel demand: Young buyers drawn to low prices and brand names, unaware of ethical and legal issues.

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