24th August 2021, Mumbai:

With the debut of a new ‘Mother-Daughter Duo' range of matching costumes for mothers and young girls incorporating traditional and western attire, womenswear company Aks has expanded its product offering.

According to a press statement, Aks' first collection for moms and daughters premiered on its dedicated e-commerce shop with a selection of lehengas, kurtas, maxi skirts, and loungewear sets in cotton and rayon materials. The business is striving to reduce textile waste by producing a matching children's size piece out of fabric offcuts from the womenswear version of the outfit. 

In a press statement, brand founder and creative director Nidhi Yadav said, "With the Mother-Daughter pair collection, Aks longs to give a big range of enticing and fashionable ethnic and fusion clothing for joyful and lively moms and daughters." “This collection is even more significant because the outfits were made from upcycled materials.” 

“Aks as a clothing company not only wants to appeal to the fashion world but it is also committed to supporting the sustainability movement,” Yadav added. “Rather than just expressing sorrow over the world's obvious problems, Aks is attempting to create a trend for upcycling with this venture.” In 2014, Yadav created Aks, a collection of ethnic and fusion-style womenswear. The business features online retail and wholesale store, as well as a couture service.

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23rd August 2021, Mumbai:

The company stated on Facebook that FabNu will launch with a dedicated section on Fabindia's e-commerce site with the motto "Unapologetically You."

The new apparel collection is part of Fabindia's effort to appeal to younger customers who like informal, flexible, and free-spirited looks. ‘Indie Dreams,' ‘Flashback,' ‘Conversation Starter,' and ‘Folkadelic' were the first four collections released by the company. FabNu reimagines Fabindia's distinctive traditional style printed cotton as strappy summer dresses, loungewear, and relaxed-style matching sets using Fabindia's characteristic traditional style printed cotton.

Cotton trousers with elastic at the ankles to imitate sweatpants, wrap halter tops, and peter-pan collar dresses are among the standout pieces. Homeware starts at Rs 199 ($2.68), while womenswear and footwear start at Rs 590. Matching fabrics are also available in accessories like shawls.

Stripes, checks, and batik prints, as well as abstract motifs, are included in FabNu's homeware collection, which includes candles, mugs, linens, and dinnerware in a variety of colors. Fabindia has been holding a number of events in conjunction with their recent launch to take advantage of the relaxed shutdown limitations.

The company recently hosted live music performances at its Vasant Kunj location in New Delhi, as well as releasing a fashion video for its current collection, Rimjhim.

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12th August 2021, Mumbai:

"We're taking stronger steps to introduce more and more new product categories into the athleisure segment since this segment has a huge demand because today's work culture is converted into work from home."

We hope to jump into business with a growth rate of not less than 25% every year once this pandemic is over, say by the end of this fiscal year, because unless and until we do that, we will not be able to reach that Rs 2,000 crore number by the end of March '24, said Vinod Kumar Gupta, MD, Dollar Industries. Excerpts that have been edited:

There were lockdowns as a result of the COVID second wave, as well as lockdowns in states based on their circumstances. We would have easily surpassed Rs 350 crore in the first quarter if COVID second wave lockout had not been in place. However, we were only able to raise Rs 205 crore. We anticipate a total revenue of roughly Rs 1,300 crore for the year. So, based on the current financial year's turnover of Rs 1,300 crore, we expect an EBITDA of approximately 17 percent, a PBT of around 15 percent, and a PAT of around 11 percent. This is what we're working on, and we're hoping to succeed.

The holiday season is rapidly approaching. Tell us how you'd approach FY23, because that'll be the year of true normalisation. Our goal is to achieve a turnover of Rs 2,000 crore by the end of March '24. We want to get into business with a growth rate of not less than 25% per year after this epidemic is over, say by the end of this fiscal year, because unless and until we do, we will not be able to hit that Rs 2,000 crore mark by the end of March '24. Throughout the COVID period, everyone must have noted that the unorganised sector is in a serious state of distress due to a lack of money and production constraints. As a result, we're working extremely hard to grab those markets that are being taken over by unorganised players, and we're succeeding.

Contact us to learn more about the company's top-line growth strategy. What are you doing to differentiate your products and where are you focusing your distribution efforts? To begin with, we are constructing a 3.5 lakh square foot integrated warehouse in Calcutta. Of course, having an integrated warehouse will allow us to improve our margins by 1-2 percent in the future. Second, we are embracing digital marketing as a means of advertising our items directly to consumers. Number three, we are finding success in the war room by using various digital platforms such as an automatic supply system. We're also in the process of switching our ERP system to SAP. We will successfully migrate to SAP implementation at the conclusion of the current fiscal year.

WATCH: https://www.youtube.com/watch?v=emu6Iv_qv8Y

Then there's the athleisure section, where the total contribution is currently approximately 14%. We are developing new items for this particular segment, which is only two years old. Because there is a large gap in terms of organised players, we are steering our entire staff to get into this athleisure market. We're also taking stronger steps to introduce more and more new product segments into the athleisure category, because there's a lot of demand for it now that work culture has shifted to work from home. The corporation has begun taking initiatives to enhance output and improve supply chain efficiency in order to meet long-term capital targets.

We are already moving forward with the capex plan for the additional installation of a 20,000 spindle spinning machine for this purpose. We currently only have spinning mills with a capacity of 22,000 spindles. With an expenditure of roughly Rs 65 crore, we are investing in another spinning machine with 20,000 spindles. These are the efforts being done to get to the Rs 2,000 crore objective by the end of March 2024 as rapidly as possible. How will you fund this expansion, and how much debt do you currently have? Are you willing to take on some equity if it isn't required?

Whatever capex we have budgeted does not imply that we will have to spend it immediately. This capex will last for another year and a half, at which point all of our internal accruals will have taken care of the capex plan. As of now, we have not sought any outside funding.

Because of superior working capital management, we wish to cover the whole capex from internal accruals. On the working capital side, whatever working cycle we have now will be improved by 15 days by the end of this fiscal year. So, better working capital management and then the earnings that we will produce will take care of the capex plan.

 https://www.linkedin.com/feed/update/urn:li:activity:6831590073100746752

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17th August 2021, Mumbai:

WebXpress, a global transportation and logistics software as a service provider, has implemented the LogiCloud platform for Bestseller India, a family-owned apparel firm. Bestseller India is a worldwide company that owns well-known brands like as Jack & Jones, Vero Moda, Only, Selected, and others.

LogiCloud is a supply chain visibility platform that connects retailers and manufacturers with over 150 logistics providers and all parts of the supply chain, including inbound, distribution, and omnichannel delivery.

With the implementation of LogiCloud, Bestseller India will be able to link its 200 EBOs (Exclusive Brand Outlets), 1,500 SIS (Store in Store) outlets, and about 40 franchisees through a single platform. The company sells premium brands with a shelf life of only 6 to 8 weeks, emphasizing the need for speed in the industry. Simultaneous product availability at several places while maintaining a high-end experience helps to build brand equity. To reach consumers across the country, the supply chain team collaborates with different logistics partners to accomplish these important duties. The difficulty, on the other hand, is to provide partners real-time access to data and to guarantee that any delays are detected, allowing the supply chain team to respond quickly.

YouTube Channel https://www.youtube.com/c/DFUPublications/videos

Bestseller uses LogiCloud to streamline operations like booking, partner allocation, tracking, and freight audits across the whole supply chain. This allows the firm to gain control over its supply chain while also decreasing information delays by more than 20%. “We cherish our connection with Bestseller greatly,” Apurva Mankad, founder, and CEO of WebXpress said of the collaboration. This collaboration enables us to digitally change the whole supply chain, which spans 800 sites. We've demonstrated that even the tiniest logistics firm can be digitally connected to a larger firm. We are hoping that the LogiCloud technology will assist in connecting all supply chain players and resulting in increased efficiencies.”

“Involving many logistics partners is a requirement in our company, but integrating them all into one system was a challenge,” Ranjan Sharma, CIO and head of supply chain management at Bestseller, noted. Our procedures are optimized as a result of monitoring them and maintaining smooth supply chain visibility. We didn't simply want a technical partner; we also wanted someone who could bring in expertise and ground-level understanding.

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10th August 2021, Mumbai:

New Delhi, India: Bata India Ltd, a shoemaker, declared a total net loss of Rs 69.47 crore for the first quarter ended June 30, 2021 on Wednesday. In the same period of 2020-21, Bata India reported a net loss of Rs 100.88 crore, according to a BSE filing.

During the quarter under review, revenue from operations quadrupled to Rs 267.04 crore, up from Rs 135.07 crore in the previous fiscal year's corresponding quarter. "Due to the second wave of COVID-19 infections and the resulting lockdowns, retail sales remained mostly depressed. 

Despite the restrictions, however, sales through e-commerce platforms remained strong and even increased "It was stated. Total expenses increased to Rs 371.61 crore from Rs 321.85 crore in the previous quarter. "Despite the shutdown, Bata India continued to develop its retail footprint in tier 3-5 cities by adding 7 new franchise stores in the first quarter, bringing the total number of franchise outlets to 234," it stated. Bata India CEO Gunjan Shah commented on the results, saying that the first quarter presented certain challenges for firms across the country, including Bata's.

"However, we were more prepared this time since we had a more flexible contingency plan in place, which enabled us manoeuvre adroitly through the changing business landscape amidst the infection increase." "We were able to serve our clients through various channels such as our website, online market places, Bata ChatShop, and Bata Store on Wheels when our retail shops were largely closed," he said.

According to him, these channels have allowed the corporation to reduce the overall impact of the pandemic's second wave. Bata India's stock closed at Rs 1,666.15 per share on the BSE on Wednesday, down 1.63 percent from the previous closing.

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17th August 2021, Mumbai:

Go Fashion (India), the owner of the Go Colors clothing line, is preparing for its initial public offering (IPO). The business has filed draught documents with India's securities regulator, the Securities and Exchange Board of India (SEBI), in order to raise money through an initial public offering (IPO).

Under the name ‘Go Colors,' the firm is involved in the creation, design, sourcing, and distribution of a variety of women's bottomwear items.

According to the draught red herring prospectus, the IPO would include a fresh issue of equity shares worth up to Rs. 125 crore and an offer-for-sale (OFS) of up to 12,878,389 equity shares by the promoter and existing shareholders. The proceeds from the new offering will be used to fund the deployment of 120 new exclusive brand outlets (EBOs), as well as meet working capital needs and other business needs. The firm had 450 EBOs spread over 115 cities as of May 2021.

PKS Family Trust and VKS Family Trust will each sell 7.45 lakh equity shares under the OFS, while Sequoia Capital India Investments would sell up to 74.98 lakh shares, India Advantage Fund S4 I will sell up to 33.11 lakh shares, and Dynamic India Fund S4 US I will sell up to 5.76 lakh. PKS Family Trust and VKS Family Trust both own 28.74 percent of the company, Sequoia Capital owns 28.73 percent, India Advantage Fund owns 12.69 percent, and Dynamic India Fund owns 1.1 percent of the company.

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Go Fashion India, founded in 2010 by Vinod and Prakash Saraogi, is one of India's leading women's bottomwear companies, with an approximate 8% market share. The firm is one of the few Indian clothing companies to see the market opportunity in women's bottomwear and serve as a "category developer" for the category. Its income from operations in FY21 was Rs. 250.67 crore, down from Rs. 392.01 crore the previous year. The net loss for the period was Rs. 3.54 crore, compared to a profit of Rs. 52.63 crore the previous year.

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