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As customers return to 'embrace summer,' Gap is ready to shine

28th August 2021, Mumbai:

Gap Inc upped its full-year net sales forecast for the second time on Thursday, anticipating strong demand for its Old Navy and Athleta clothing brands as flu restrictions are eased.

Gap's annual profit projection was also raised, sending shares up 7% afterwards as both forecasts topped market expectations amid a good earnings season for retailers including Macy's, Kohl's, and discounter T.J. Maxx.

On an earnings call, Gap Chief Executive Officer Sonia Syngal remarked, "Our customers embraced summer with optimism, hungry for mood-boosting clothes as trips and reunions became a reality."

Old Navy's net sales increased by 21% in the second quarter compared to pre-pandemic levels two years ago, while Athleta's increased by 35%. 75 percent of pre-orders for the Yeezy-Gap jacket came from fresh new customers, thanks to the retailer's collaboration with musician Kanye West.

The Banana Republic company has also been investing more in its digital business in order to capitalise on the rise in online shopping, and earlier today announced the acquisition of Drapr, a startup that allows shoppers to digitally try on garments.

Gap anticipates net sales growth of around 30% in fiscal 2021, compared to a previous prediction of low-to-mid 20%. According to Refinitiv statistics, analysts predicted a 24.3 percent increase. The company, which has been focusing on marketing and inclusion, expects annual adjusted earnings of $2.10 to $2.25 per share, up from $1.60 to $1.75 previously. The consensus among analysts was $1.80.

Net sales of $4.2 billion were the highest in the second quarter in almost a decade, increasing by 29% to above expectations. Gap, on the other hand, said it is investing in air freight to deal with delayed inventory deliveries caused by shipping delays and pandemic-related manufacturing closures in countries where it imports, echoing rival Abercrombie & Fitch's statements.

A Summer Weekend | Fresh Exchange

 

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As customers return to 'embrace summer,' Gap is ready to shine

Aks, a womenswear company, has debuted its first 'Mother-Daughter Duo' collection

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.

mother-daughter-duo - ShaadiWish

 

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Aks, a womenswear company, has debuted its first 'Mother-Daughter Duo' collection

Fabindia introduces a new fusion line. FabNu

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.

Fabindia launches its contemporary, western wear brand “FABELS” | Blah and  More - Singapore's Top Parenting and Fashion Blog

 

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Fabindia introduces a new fusion line. FabNu

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