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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5th Aug 2021, Mumbai:

Titan's jewelry segment earned Rs 2,467 crore in the third quarter, compared to Rs 1,182 crore in the previous quarter. Titan Company Ltd, a Tata group company.

It recorded a consolidated profit of Rs 18 crore for the June quarter on Wednesday, boosted by higher income. In the previous fiscal year's equivalent period, the firm recorded a net loss of Rs 297 crore.

The total revenue for the quarter under review was Rs 3,519 crore. Titan stated in a regulatory statement that the previous figure was Rs 2,020 crore. The greater revenue in the first quarter of this fiscal year was "mainly driven by the base impact of zero sales in April last year," according to the firm.

"While we started the quarter with good commercial momentum, the second wave of the pandemic badly interrupted it, and we swiftly turned our focus to the health and safety of our workers, business colleagues, and customers," stated Titan Company Managing Director C K Venkataraman. "We were able to handle this quarter's turbulence considerably more effectively because of the lessons learned and expertise gained over the previous year," he said. Titan's jewelry sector is finding momentum with new consumers, and its entire buyer mix has returned to pre-pandemic levels, according to the company.

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Titan's jewelry segment earned Rs 2,467 crore in the third quarter, compared to Rs 1,182 crore in the previous quarter. The watches and wearables division made a profit of Rs 292 crore, up from Rs 75 crore previously. The revenue from the eyeglasses sector was Rs 67 crore, up from Rs 30 crore in the same period the previous year. The company's other sectors, which include Indian dress wear and accessories, had a profit of Rs 14 crore, up from Rs 4 crore previously. Titan Company Ltd's stock fell 2.14 percent to Rs 1,799.80 a share on the BSE.

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6TH AUG 2021, MUMBAI:

Beyond Yoga, which focuses on body positive gear, will operate as a separate business and may add more than $100 million to Levi Strauss' net revenue in fiscal 2022, according to the firm.

Levi Strauss & Co. said on Thursday that it will acquire Beyond Yoga, a clothing company, for an unknown sum, as it seeks to extend its position in the profitable leggings category, which grew in popularity during the COVID-19 epidemic. During pandemic-related lockdowns that confined people indoors, fashion shops like American Eagle Outfitters Inc and Abercrombie & Fitch Co have been increasing their exposure to the type of clothes that can be worn at home, such as shorts and tanks.

Beyond Yoga, which focuses on body positive gear, will operate as a separate business and may add more than $100 million to Levi Strauss' net revenue in fiscal 2022, according to the firm. Levi's stock soared last month as the firm predicted a high full-year profit, boosted by a faster-than-expected resurgence in demand for its denim, shirts, and jackets. 

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5th Aug 2021, Mumbai:

Adidas' optimism is bolstered by upcoming product launches such as new versions of its famous NMD shoes, as well as sporting events such as the Olympics and the start of the European club soccer season.

BERLIN: Adidas boosted its full-year sales and profit forecasts as demand rose throughout the globe, but the firm suffered a hit in China, where Western brands faced a boycott of their products in late March. Adidas' optimism is bolstered by upcoming product launches such as new versions of its famous NMD shoes, as well as sporting events such as the Olympics and the start of the European club soccer season.

Adidas' optimism is bolstered by upcoming product launches such as new versions of its famous NMD shoes, as well as sporting events such as the Olympics and the start of the European club soccer season. BERLIN: Adidas boosted its full-year sales and profit forecasts as demand rose throughout the globe, but the firm suffered a hit in China, where Western brands faced a boycott of their products in late March. Adidas' optimism is bolstered by upcoming product launches such as new versions of its famous NMD shoes, as well as sporting events such as the Olympics and the start of the European club soccer season.

In late March, Western companies such as Adidas were targeted online in China for previous comments that they would not source cotton from Xinjiang due to reports of human rights violations against Uyghur Muslims. Beijing denies any wrongdoing. Adidas stated in May that demand in China had first dropped sharply, but that sales had subsequently rebounded slowly but steadily. On Thursday, it made no mention of the tensions, instead referring to the "geo-political situation."

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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.

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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.

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4th Aug 2021, Mumbai:

Elevation Capital led a Rs 75 crore Series B funding round for youth casual wear brand The Souled Store. Angel investors Sahil Barua (co-founder & CEO, Delhivery), Gunjan Soni (CEO, Zalora), and Ashish Goel (Founder & CEO, Urban Ladder), as well as other executives from other businesses, participated in the funding round.

The funds will be used to grow the company's product assortment, which includes licensed products and casual clothing, as well as to improve brand recognition and offline retail presence across India, increase production capacities, and hire more people.

The Souled Store was one of the first businesses to bring in licensed fan items from worldwide corporations such as Disney, Warner Bros., WWE, IPL teams, EPL teams, and Viacom18. It was founded in 2013 by Vedang Patel, Aditya Sharma, Rohin Samtaney, and Harsh Lal. The firm has 150+ franchises and develops, manufactures, and sells a wide range of clothing goods based on pop culture themes such as superheroes (Marvel and DC worlds), movies (Star Wars, Harry Potter), TV series (Friends, Game of Thrones), and cartoons (Looney Tunes, Tom & Jerry).

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"Going forward, our focus will be on introducing a range of new product categories, expanding our customer reach, and expanding our physical presence across India to achieve our goal of exceeding Rs 1,000 crore GMV by 2025," stated Vedang Patel, co-founder, and CEO of The Souled Store.

For the first five years, the firm was self-funded, but in November 2018, it got seed investment from RPSG Ventures. Since then, the firm has expanded by more than fourfold. The Souled Store claims to have over three million registered customers and is on course to generate a GMV of Rs 500 crore next year.

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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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