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Brands-To-Retail 13-09-2021

Vedant Fashions (Manyavar), an Indian ethnic wear company, has filed draught documents for an initial public offering (IPO)

13th September 2021, Mumbai:

Vedant Fashions (Manyavar), India's biggest ethnic wear firm, has filed draught documents with market regulator SEBI (Security and Exchange Board of India) to acquire money through an initial public offering (IPO) (IPO).

According to the company's DRHP (Detailed Red Herring Prospectus), the offering consists of a pure offer for sale (OFS) of up to 36.36 million shares by the company's current promoters and shareholders. Rhine Holdings Ltd. has up to 17.46 million shares in the OFS; Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF I has up to 723,000 shares in the OFS, and Ravi Modi Family Trust has up to 18.18 million shares in the OFS.

Vedant Fashions, created by Ravi Modi, is funded by Kedaara Capital, an India-focused private equity firm, and its other brands include Mohey, Mebaz, Twamev, and Manthan. Rhine Holdings now owns 7.2 percent of the company, while Kedaara AIF owns 0.3 percent. Ravi Modi Family Trust owns 74.67 percent of the company.

A production capacity of 10 million pieces per year is also a goal for the firm. Vedant Fashions will not get any revenues from the offer, according to the DRHP. The offer's goals are to reap the benefits of listing equity shares on stock exchanges and to complete the selling shareholders' offer to sell up to 36,364,838 equity shares.

The business anticipates that listing the equity shares would increase its visibility and brand image, as well as offer liquidity to shareholders and create a public market for the equity shares in India.

“We plan to concentrate our growth efforts on markets where we believe there is a growing demand for our goods and where we can utilize our existing presence to grow our market share,” says the company.

We have chosen numerous cities and towns in both existing geographies where we have a presence and new geographies where we aim to build our first EBOs through our cluster-based expansion strategy,” the business said in the DRHP.

Revenues for FY21 were Rs. 564.82 crore, down from Rs. 915.55 crore the previous year. The net profit for the period was Rs. 181.92 crore, down from Rs. 311.84 crore the previous year. In terms of sales, OPBDIT, and profit after tax for FY 2020, Vedant Fashions is the leading firm in India in the men's Indian wedding and celebration wear category, according to CRISIL.

The firm has a retail footprint of 1.1 million square feet, with 525 EBOs (Exclusive Brand Outlets) distributed throughout 207 cities and towns in India, including 55 shop-in-shops, and 12 EBOs in the United States, Canada, and the United Arab Emirates. Over the next three years, it hopes to quadruple its national footprint.

5 recent IPOs that doubled or almost doubled investors' money on listing date

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Brands-To-Retail 13-09-2021

Aditya Birla Fashions aims for a revenue of Rs 25,000 crore by 2026

13th September 2021, Mumbai:

Aditya Birla Fashion and Retail Ltd (ABFRL), a leading fashion retailer, is targeting sales of Rs 25,000 crore ($3.4 billion) by 2026. In FY2021, ABFRL had net revenue of Rs 5,249 crore.

To drive its development in the next years, the business is counting on its portfolio of brands, robust distribution, and digital network, as well as a consumer-centric and innovation-focused culture. ABFRL intends to focus on ethnic clothing to increase sales, with this category expected to contribute the most to overall sales in the next years.

“Ethnic fashion and clothing is the largest section in the fashion and apparel industry, with a sizable profit stream. It's also a sector that's resistant to changes in the clothing cycle and isn't as affected by the global brand rivalry.

ABFRL currently has one of the strongest and most complete portfolios of brands in the Indian ethnic market, thanks to acquisitions and collaborations, according to ABFRL chairman Kumar Mangalam Birla.

“The firm redesigned its brand and customer digital experience, aggressively pushed e-commerce through deeper relationships with third-party e-commerce platforms and investments in our e-commerce platform, and digitized backend processes.

As a consequence, digital channel sales increased by 40% in the last year,” he continued. Aditya Birla Fashion and Retail is India's largest fashion firm, including labels such as Louis Philippe, Van Heusen, Allen Solly, and Peter England.

It now operates 3,212 shops in India, with 31,000 multi-brand outlets and 6,835 points of sale in department stores.

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Brands-To-Retail 13-09-2021

Aditya Birla Fashions aims for a revenue of Rs 25,000 crore by 2026

Vedant Fashions, the proprietor of 'Manyavar,' has filed IPO documents with the Sebi

11th September 2021, Mumbai:

Vedant Fashions Ltd, which owns the ethnic apparel label Manyavar, has filed preliminary documents with the capital markets regulator Sebi to acquire money through an initial public offering (IPO).

According to the draught red herring prospectus, the initial public offering (IPO) is simply a sale of 36,364,838 equity shares by the promoter and existing shareholders (DRHP). Rhine Holdings Ltd is selling up to 1.74 crore shares, Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF I is selling up to 7.23 lakh shares, and Ravi Modi Family Trust is selling up to 1.81 crore shares.

Ravi Modi, Shilpi Modi, and the Ravi Modi Family Trust are the company's promoters. The firm will not get any money from the public offering because it is solely an offer for sale. With a presence across the country, Vedant Fashions' 'Manyavar' brand is a category leader in the branded Indian wedding and celebration apparel industry.

Twamev, Manthan, Mohey, and Mebaz are some of the company's other brands. As of June 30, 2021, the business has a global retail network of 537 exclusive brand outlets (EBOs) and 55 shop-in-shops, including 12 foreign EBOs in the United States, Canada, and the United Arab Emirates, all of which have a substantial Indian diaspora.

In the draught documents, the business stated, "We want to expand our retail network and product reach by entering additional regions, including Tier II and III towns and cities in India, as we think these markets provide substantial growth possibilities for us." The issue's book running lead managers are Axis Capital, Edelweiss Financial Services, ICICI Securities, IIFL Securities, and Kotak Mahindra Capital.

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Brands-To-Retail 11-09-2021

Amul Macho seeks to stay in the new 'Lux Cozi' ad. for allegedly copying advertisement

6th September 2021, Mumbai:

Men's innerwear brand Amul Macho has sought a stay on Lux Cozi’s recently released advertisement campaign featuring actor Varun Dhawan.

The brand has filed a complaint with the Advertising Standards Council of India (ASCI) to seek the stay, Amul Macho is about to launch a new campaign which is an extension of its old campaign that was hugely controversial for being sexually suggestive. In its complaint, the company states that the ‘The Lux Cozi Ad’ takes undue advantage of Amul Macho’s brand equity, reputation and goodwill.

The TV commercial for Amul Macho Underwear which was released in 2007 showed a young woman suggestively washing her husband’s underwear on a riverbank as other women eye her curiously. After a heated public debate, the commercial was banned by the information & broadcasting ministry for being indecent.

The company then came out with a campaign which was an extension of the prohibited commercial which featured orangutans. It later changed the tagline from ‘ye to bada toing hai’ to ‘bade aram se’ which featured actor Saif Ali Khan.

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Brands-To-Retail 06-09-2021

GBTL–owned brand Grado launches new products at New Delhi conference

11th September 2021, Mumbai:

Premium fabrics manufacturer GBTL –owned brand Grado launched myriad new product offerings duringa conference at ITC Dwarka, New Delhi. The conference witnessed all channel partners from across India, assembling over the days.

The four-day conference showcased a brilliant new range of products which included a fantastic array of Ethnic Wear presented in different colors, designs and patterns of reds, blues, creams, emerald, maroon and much more. The various fabrics have been segregated into various occasions leading up to the wedding too including haldi and mehendi. An Ethnic Wear catalogue & a show-stopping video was also launched at the conference.

Bestsellers like Alsace – 20 percent wool tweed for jacketing and suiting, Picasso– fiber dyed TR fabrics in unique colors, and Streeza - India’s #1 four-way stretch fabric in many unique designs and colors, were also showcased.

Apart from these best sellers, there was a range of products in different colors and designs that were well appreciated with over 400 new designs in the latest collection.

The House Of GBTL-Grasim And The House Of OCM Heralds Launch Of Grado

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Brands-To-Retail 11-09-2021

Shahi Exports, an Indian clothing behemoth, and Nike, a well-known American brand, have teamed up for retail commerce

8th September 2021, Mumbai:

Shahi Exports, India's largest garment exporter, has partnered with Nike, the world's largest footwear and apparel company. Nike Inc. has separated its franchisee rights in India into a tiered structure for different markets, according to a story in The Economic Times, and has brought in a subsidiary of clothing exporter Shahi Exports to manage shops in five major markets.

Shahi Exports, for example, is in negotiations with a few malls to establish Nike stores ranging from 5,000 to 10,000 square feet. Delhi, Bengaluru, Mumbai, Pune, and Ahmedabad are among the cities where the Indian clothing giant will open outlets.

Shahi Exports was formed because Nike needed a little larger firm with (greater) investment capacity. SSIPL (Nike's major franchisee in India for the past 25 years) has already moved approximately three dozen Nike stores to Shahi as part of the realignment. Nike, Shahi, and SSIPL, on the other hand, have yet to corroborate the news. It's worth noting that Shahi Exports' MD, Anand Ahuja, also co-owns VegNonVeg, a multi-brand online footwear platform.

Meanwhile, several of Nike's employees in India have allegedly relocated to Singapore, and the Bengaluru headquarters will now focus only on the company's e-commerce operations.

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Brands-To-Retail 08-09-2021

Jockey launches new campaign for 'Jockey Woman range'

4th September 2021, Mumbai:

Apparel brand Jockey has launched a campaign to advertise its Jockey Woman range. The campaign includes nine ad videos, and will be deployed across TV and digital. In addition to this, the brand will use hyperlocal touchpoints through print, and out of home advertising.

Jockey Woman is a sub-brand under the Jockey stable that focuses on the women’s intimate wear portfolio. It was launched in 2018, and is one of the youngest players, taking on Indian and international brands already established in the segment. The new campaign marries this brand philosophy with the insight that women do not like being boxed into one category. The campaign tagline reads “Bras as versatile as I am,” alluding to the variety of products Jockey Woman has to offer.

For this campaign, the brand will focus on Hindi movies, music and youth, and infotainment genres, Unlike most brands, Jockey Woman will not go after the Hindi general entertainment channels, or sports channels, despite the high visibility and female viewership among the former, and tentpole properties like the Indian Premier League, and the ICC T20 World Cup coming up in the latter. This is to avoid being a part of a cluttered ad environment.

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Brands-To-Retail 04-09-2021

Jockey launches new campaign for 'Jockey Woman range'

Reliance Retail to open 'premium department' store chain

11th September 2021, Mumbai:

Reliance Retail plans to open a new premium department store chain. Ranging from 25,000-35,000 sqft, the new premium department stores will house products from all global labels that are sold by Reliance Brands and Reliance Retail.

The company’s private labels and brands will be excluded.

Largest retailer in the country in terms of sales and number of outlets, Reliance Retail is aggressively expanding its network of stores from pharmacies to convenience stores and electronic chains, malls and real estate agents. It currently operates over 12,000 outlets in over 7,000 cities and towns across the country.

Out of these, over 2,000 stores are in the fashion, lifestyle and jewelery segments.

Reliance Brands, a unit of Reliance Retail, sells upmarket brands. Reliance Brands sells products from several brands including Hamleys Toys, Mothercare, Muji, Vomo Cosmetics. Reliance Brands also sells luxury brands such as Armani, Burberry, Diesel, Salvatore Ferragamo and Jimmy Choo, as well as other swish global and Indian labels through its multi-brand concept format called White Crow.

Till date, Reliance has opened four White Crow outlets in Chandigarh, Ahmedabad, Hyderabad and Surat.

India's Reliance Retail to Launch Premium Department Store Chain | BoF

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Brands-To-Retail 11-09-2021

Reliance Retail to open 'premium department' store chain

Vedant Fashions, owner-Manyavar dressing up for IPO

7th September 2021, Mumbai:

Vedant Fashions - Owning celebration wear brands Manyavar, Mohey, Mebaz, Twamev and Manthan-- is getting prepared & is likely to file the draft red herring prospectus (DRHP) for an initial public offering (IPO) with market regulator SEBI this week.

Company is expected to raise about Rs 3,000 crore through the IPO. The IPO is expected to be a complete offer for sale (OFS), which means that none of the funds raised through the IPO are expected to go to the company, instead go to the selling shareholders.

Existing scenario

Private equity firm Kedaara Capital and Ravi Modi, Founder, Vedant Fashions, are expected to be the large selling shareholders, contemplating to dilute a stake of approximately 14 percent.

In the last four years, the company has been sustainably growing its revenue and is on growth path.

Manyavar's owner Vedant Fashions plans IPO after strong profit - News : business (#944373)

Investor bankers

Axis Capital, ICICI Securities, Edelweiss Securities, IIFL and Kotak Securities are the investment bankers to the issue.

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Brands-To-Retail 07-09-2021

Vedant Fashions, owner-Manyavar dressing up for IPO

Go Fashion India (Go Colors) to use IPO funds to open new EBOs

03 September 2021, Mumbai:

Womenswear brand Go Colors’ operator Go Fashion India plans to use the proceeds from its latest IPO to fund the opening of 120 exclusive brand outlets.

As per Fashion Network, the brand will also use the funds to meet its working capital requirements and fund general corporate projects.

Go Colors retails a range of women’s ethnic wear, fusion wear, and casual wear. The brand’s USP is that it offers its styles in over 120 colours and focuses on leggings, palazzos, and jeggings among other bottoms. Shoppers can match the brand’s bottoms to their clothing of choice thanks to its wide colour selection.

The IPO includes a fresh issue of shares for Rs 125 crore ($18.8 million) as well as an offer for sale by various promoters and investors. The business is backed by Sequoia and ICICI Venture and filed its draft red herring prospectus with the Securities and Exchange Board of India.

Go Colors, Kodambakkam - Legging Retailers in Chennai - Justdial

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Brands-To-Retail 03-09-2021

Go Fashion India (Go Colors) to use IPO funds to open new EBOs

Adidas has opened a digital flagship store in India

11th September 2021, Mumbai:

Adidas, the world's largest athletic company, inaugurated its digital flagship shop for consumers across the country on Thursday. Consumer feedback and evaluations were taken into consideration when designing and curating the all-new website.

The digital flagship store focuses on providing a seamless experience, innovation, cutting-edge UI, and a quick interface, giving customers a worldwide online shopping experience that is technologically better and seamless. The website provides a unique tech-driven experience that allows customers to easily explore the digital store and purchase their favorite items.

Consumers are guided across the digital flagship store, from search to navigation, to locate and purchase the correct product, fit, and support, as well as the finest cross-category upgrades, boosting their overall online retail trip. The collection focuses on important areas such as Running, Lifestyle, Training, and Football while aiming towards establishing a platform that functions as the go-to place for everything sport.

The flagship store also improves the shopping experience for important customer groups such as women and children. Senior Director, Brand Adidas, India, commented on the inauguration of the digital flagship shop. Sunil Gupta expressed his thoughts as follows: "We aim to strengthen the brand's reputation in India by acknowledging user input with the introduction of our new internet shop.

Our goal is to change the attitude from an eCommerce site to a digital brand shop that puts the customer first. The digital shop seeks to boost our reputation, improve the customer experience, and promote our environmental initiatives. Consumers will have an amazing experience thanks to the unique technologies and enhanced user interface."

In addition to the launch, Adidas will welcome hackers, developers, and tech professionals to test the beta version of the website for bugs and compatibility concerns, and will compensate them for their technical input. The company will also continue to engage with customers through creative offers and events, such as new and exciting launches, in order to keep customers' shopping spirits up and prepare them for the forthcoming holiday season.

online shopping: Adidas India launches digital flagship store, Retail News, ET Retail

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Brands-To-Retail 11-09-2021

Reliance Retail to set up new store chain in 'Ethnic wear & Saree space'

6th September 2021, Mumbai:

Reliance Retail plans to a new chain of stores under the brand name of Avantra to take on Tata Group’s Tanishq and Aditya Birla Fashion Retail (ABFRL) in the ethnic wear and saree space.

The company will set up brick-and-mortar chain position mid-size stores in the economy range. Apart from selling private labels in sarees and ethnic wear, Avantra will partner with regional weaver clusters and several third-party brands, including Nalli Silks and Pothys. The first store is set to come up in Bengaluru, followed by others in Karnataka and Andhra Pradesh.

The company’s move comes against the backdrop of Tanishq which is foraying into the ethnic wear space. Aditya Birla’s ABFRL, too, has snapped up significant stakes in domestic designer wear labels such as Sabyasachi and Tarun Tahiliani.

Ethnic wear continues to be the dominant segment in India despite a proliferation of global apparel brands. This is leading to several domestic and foreign brands specializing in western wear to launch desi clothing collections.

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Brands-To-Retail 06-09-2021

Reliance Retail to set up new store chain in 'Ethnic wear & Saree space'

Sneaker brand 'Thaely' to launch new apparel line

02 September 2021, Mumbai:

Launched by entrepreneur Ashey Bhave, with a dedicated e-commerce store and stores abroad, sustainable sneaker brand Thaely plans to expand into apparel. Thaely is currently available at Level Shoes in Dubai Mall, Dubai. It also ships worldwide through its dedicated e-commerce store.

Besides a garment range, the brand also plans to expand its classic sneakers collections in new colors and its range of high top sneakers. Thaely uses discarded plastic to create its vegan sneakers. The brand uses ThaelyTex for the upper part of a boot or shoe above the sole and rPET made from plastic bottles for the upper and shoelaces, recycled rubber for the sole, and vegan glue. The shoe box is plantable- it’s made from recycled paper, dyed with waste coffee grounds and has basil seeds embedded in it.

Since its production began at the start of 2021, Thaely has recycled around 36,000 plastic bags and 25,000 plastic bottles. The brand turns the waste plastic into its own material ‘ThaelyRex’, which is similar in appearance to leather, and uses this to create its sneakers.

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