13 November 2023, Mumbai
As per the latest ETRetail report l
Aditya Birla Fashion and Retail Ltd. (ABFRL) incurred a net loss of ₹200 crore in the second quarter of 2023, ending on September 30, attributed to sluggish consumer demand.
It's important to note that financial results can be influenced by a variety of factors, including economic conditions, consumer behavior, industry trends, and management decisions.
07 November 2023, Mumbai
Les Petits, the luxury kids' fashion brand, unveils an exquisite Diwali collection, blending opulence with celebratory vibes.
The in-house brand, Rang, showcases skilled craftsmanship through options like fascinating embroidery, sequins, placket kurtas, and butterfly-style lehengas, allowing kids to revel in the grandeur.
Outlines
With an eye on changing weather, the collection features captivating hues—parrot peach, pista green, lilac—and eclectic prints like patola, paisley, and batik. Rich fabrics such as Chanderi Silk & Velvet, Neo Prines, Satin, Cotton, Silk, and Chiffon elevate sartorial elegance.
President Swati Saraf invites parents to explore a gamut of collections balancing aesthetics and functionality. The focus on comfort ensures dresses are woven in breathable, lightweight materials, letting kids enjoy the festivities without hindrance.
04 November 2023, Mumbai
Growth Accelarants
Reliance, the prominent retail giant in the country, is set to enhance its presence in the rapidly expanding Beauty and Personal Care (BPC) market by acquiring the beauty retail business of Arvind Fashion, a company promoted by the Lalbhai family.
Arvind Fashion recently announced that it has entered into a Share Purchase Agreement (SPA) with Reliance Beauty & Personal Care Ltd, a wholly owned subsidiary of Reliance Retail Ventures Ltd, to sell and transfer the entirety of its equity stake.
As a sanguine trade view it will unleash next leg of growth with this fundamental tailwind created/curated out of this new event.
Navyasa By Liva, a contemporary saree and women's wear brand, is excited to introduce their AW’23 collection - The Garden of Eden. This much-anticipated collection is a vibrant blend of ethereal prints and chic designs tailored for today's woman. Navyasa By Liva's focus is on creating effortlessly elegant, lightweight pieces that empower women to be themselves.
Elli Avrram, the renowned actress and dancer, graced the collection launch at a recent fashion week as the showstopper. She donned a stunning red floral saree with foil decoration from the new collection, exuding comfort and style in the fluid crepe drape.
The Garden of Eden offers a diverse selection of outfits inspired by nature's beauty, featuring imagery of natural wonders. The colors and patterns on these garments are like a kaleidoscope.
From workwear to evening glam, the collection caters to every occasion. The sarees come in various modern, textured, artistic, traditional, embellished, and patterned options crafted from premium fluid Liva fabrics, perfect for those seeking comfort and style.
The collection also includes standout co-ord sets, including one-shoulder kaftans, jumpsuits, tunics, and embroidered kaftans, radiating elegance.
ManMohan Singh, Chief Marketing Officer of Birla Cellulose, Aditya Birla Group, expressed their commitment to fulfilling the aspirations of modern women with high-fashion, sustainable outfits.
The Garden of Eden collection showcases a harmonious range of sarees and apparel with diverse fibres, weaves, and motifs, ideal for the festive season. It features bold prints and wearable silhouettes that embody both fashion-forwardness and practicality, all crafted using sustainable Liva fabrics, reflecting a dedication to environmental preservation.
08 November 2023, Mumbai
The global economic slowdown, rising inflation, and unviable pricing strategies in the post-Covid years have lowered the sales expectations of most apparel manufacturers in the ongoing Diwali festive and up-coming wedding season.
A recent survey of 166 apparel manufacturers by the Clothing Manufacturing Association of India (CMAI) revealed almost 78 percent are expecting a slump of around 25 percent in apparel and accessories sales. Only 22 per cent have a better late than never expectation of the market picking up closer to Diwali and during the extended wedding season that lies ahead.
With people more keen to shop in malls and physical stores for a more relaxing shopping experience, 60 percent of garment manufacturers feel the offline channel will do better as compared to 40 percent of online retailers, who are also looking forward to a lucrative festive season.
As Rahul Mehta, Chief mentor of CMAI says, despite some positive sentiments, overall there is widespread sense of pessimism among CMAI members. This aligns with the broader slowdown experienced in the domestic garment sector during the last 4 to 5 months.
Kids wear and smaller towns are the biggest growth drivers
However, not all manufacturers are as pessimistic, with around 16 percent respondents saying lower pricing might help sales numbers grow and another 12 percent feeling the vast festive portfolio will also be a crowd-puller.
With more parents investing in ethnic wear for the festive season as compared to the rest of the year, nearly 49 percent respondents feel kid’s wear will be the biggest sales growth driver. This will be followed by 36 per cent of women's wear as well as 12 percent men’s wear performing better than the rest of the year
While the metros always experience a festive season spike, this year most big brands are also increasing their focus on Tier II and III consumer cohorts, as they are more focused on aspirational lifestyles fuelled by more disposable incomes.
Another interesting study by CyberMedia Research (CMR) has found consumers in Tier II cities spend around 16 per cent of their income on online shopping with 62 per cent doing online shopping which outperforms the metros.
Online trying hard to compete with offline retail
E-commerce firms such as Amazon, Flipkart, Meesho, and Myntra are also targeting millions of shoppers across India for their biggest festival season sales. While Amazon launched its month-long flagship festive sale, the Great Indian Festival (GIF) in early October, Flipkart hosted its annual flagship sale event called, 'The Big Billion Days' in mid-October. Along with core fashion categories, customers showed a high inclination towards other categories such as jewelry, beauty and personal care, watches and wearables, luggage, home, and sports footwear.
However, continued store expansion of various brands in Tier II and III cities will also help growth this fiscal year in the medium term. Luxury brands such as Bath & Body Works have launched exclusive festive collections just in time for gifting and are anticipating greater growth in the smaller cities of Udaipur, Ranchi, Kozhikode, Kanpur, Udipi, and Mangalore.
A quick perspective
Women’s ethnic wear brand Biba is also targeting the unique preferences of each region's regional market with region-specific festivities such as Pujo in the East, Dussehra in the South, and Diwali celebrated nationwide, along with including influencers across all age groups, including children, to showcase their collections.
The festive season may lack some luster this year, but it will still be enough to keep the Indian apparel industry going for the next fiscal year.
04 November 2023, Mumbai
Sephora, the world's leading omni-channel prestige beauty retailer, has partnered with Reliance Retail, India's largest retailer, to accelerate its expansion in the country.
The partnership gives Reliance Retail exclusive rights to build and enhance Sephora's presence in India across channels.
Nuanced picture
The Indian beauty and personal care market is pegged at USD 17 billion and is set to grow at a CAGR of 11%, positioning India as one of the largest untapped consumer markets globally. Sephora, with its unique brand and product curation capabilities, is well-positioned to cater to the growing beauty needs of India's vast consumer base.
Synergies
Reliance Retail, with its deep consumer insights and unparalleled customer access, both offline and digitally, is the ideal partner to help Sephora achieve its growth ambitions in India.
The partnership will also help Reliance Retail strengthen its portfolio of offerings in the beauty and personal care segments.
The partnership is a win-win for both companies and is poised to elevate the beauty retail landscape in India.
31 October 2023, Mumbai
Indian Terrain, India's leading men's fashion brand, has unveiled its highly anticipated Autumn Winter 2023 (AW'23) Collection, featuring a myriad of styles under 6 unique apparel lines. The collection seamlessly harmonizes effortless style with comfort, while prioritizing adaptability to cater to the dynamic and multifaceted requirements of modern lifestyles.
Key highlights of the collection include
New Age Jeans, ultra-soft corduroys, 4-way stretch chinos, heritage Indigos, sueded bombers, and 4-in-one jackets These innovative interpretations of classic materials offer a journey through the seasons, providing men with the perfect wardrobe for any occasion.
This collection is a testament to its steadfast commitment to quality and style, as we offer a meticulously curated selection of garments designed to elevate the modern man's wardrobe.
DNA
Its pursuit of excellence begins with an extensive design process rooted in the identification of global trends, which serves as the cornerstone for our seasonal concept.
These trends come to life in our designs, characterized by a captivating spectrum of colors, inventive silhouettes, top-tier fabrics, and unique patterns.
Indian Terrain is also committed to pioneering eco-friendly materials, incorporating smart textiles, and redefining fashion's role in shaping a more sustainable world.
The AW'23 collection is a reflection of this commitment, with several garments made from sustainable materials such as recycled polyester and organic cotton.
08 November 2023, Mumbai
India's Arvind Fashions celebrated an 18.9% surge in second-quarter profits, driven by robust sales of clothing and footwear, with power brands contributing to wider margins.
Operational leverage
The Bengaluru-based firm saw its consolidated net profit climb to ₹216.6 million ($2.60 million) for the quarter ending Sept. 30, up from ₹182.2 million the previous year, propelling its shares up to 8%.
Despite soft consumer demand, Arvind Fashions' success in the multi-brand outlet sector and more efficient inventory management bolstered profits.
The company's EBITDA margin improved by approximately 50 basis points year-on-year. Fashion retailers experienced a shift in demand due to a delayed festive season, starting in late October for 2023.
About Brand
Arvind Fashions, housing brands like Arrow and Calvin Klein, reported a 7% increase in consolidated revenue, with power brands, such as US Polo and Tommy Hilfiger, contributing over 80% to the total, and emerging brands and footwear segments displaying significant revenue growth.
In a recent move, Arvind Fashions divested its Sephora India business to Reliance Retail, owned by billionaire Mukesh Ambani. Rival Shoppers Stop reported a decrease in second-quarter profits last month, while Tata Group-owned Trent, operating Westside retail chain, reported a nearly threefold profit surge on the same day.
03 November 2023, Mumbai
American athleisure brand Nike has unveiled its flagship store in Bengaluru, Karnataka, situated within the newly-opened Phoenix Mall of Asia.
The cutting-edge Nike flagship store is now a prime destination for exclusive drops and sports enthusiasts in Bangalore.
BACKGROUND
In India, Nike boasts over 120 exclusive outlets, contributing to the brand's impressive global revenue, which surged from $46.71 billion in 2022 to a remarkable $51.22 billion in 2023.
Established on January 25, 1964, initially as Blue Ribbon Sports, Nike has evolved into a powerhouse with over a thousand stores worldwide.
31 October 2023, Mumbai
Canada's La Vie En Rose, a specialty lingerie retailer, has opened its second Indian store at Phoenix Mall of Asia in Bengaluru.
The store caters to women aged 25-45, offering sleepwear, lingerie, and swimwear. La Vie En Rose entered the Indian market through a partnership with Apparel Group India in July 2023 and inaugurated its first store in Noida.
Nuanced picture
They prioritize omnichannel retail, allowing customers to shop through their website and platforms like Ajio, TataCLiQ, Myntra, and Nykaa Fashion.
Founded in 1985, the company now operates over 230 stores in 125 Canadian cities and over 400 stores in 20 countries worldwide.
06 November 2023, Mumbai
Preeti Chopra is the newly appointed Vice President of Business Development for Being Human Clothing, overseeing India and the global market.
Her key responsibilities include ensuring the brand's product line reaches the right consumers in various geographic regions and harnessing technology to drive business growth.
Background
With a PG Diploma in Advertising & Public Relations and 20 years of experience in fashion retail and business development, Chopra brings a wealth of expertise to her role. In her previous position as National Head of Business Development at Raymond Limited, she showcased her capabilities.
About Brand
Being Human Clothing, an initiative of Bollywood actor Salman Khan's charitable trust, boasts a presence in 94 EBOs, 400+ MBOs, 200 SIS formats, and numerous online marketplaces. Excitingly, the brand is expanding its reach with new stores opening in Dubai, Dhaka, and Canada this month.
Arvind Ltd, a prominent textile company in India, witnessed a sharp 36% drop in its net profit, recording Rs 80 crore ($10 million) in the second quarter of the 2023-24 fiscal year, down from Rs 125 crore the previous year.
This decline was mirrored in the company's revenue, which fell by 11% to Rs 1,921 crore, compared to Rs 2,170 crore in the corresponding quarter of the previous fiscal year.
However, Arvind Ltd's textiles and advanced materials businesses showed promise, with improved margins of 11% and 16%, respectively. The textiles business contributed Rs 1,455 crore to the overall revenue, while the advanced materials business accounted for Rs 354 crore.
Arvind Ltd remains optimistic, citing the potential for improved domestic markets due to festival buying and positive macroeconomic indicators. They anticipate a slight uptick in both revenue and margins in the upcoming months.
30 October 2023, Mumbai
A symphony of striking patterns, luxurious materials, and superb craftsmanship
Cover Story, the revolutionary brand in women's apparel, unveils a Western Collection this festive season that is sure to brighten your Diwali festivities.
With a blend of classic elegance and contemporary design, every item showcases Cover Story's dedication to reinventing current fashion.
Range
The collection features a range of outfits, from elegant slip dresses to smart pieces, all chosen to empower and encourage women to show off their best qualities during the festival of lights.
With its tasteful combination of vibrant hues and detailed decorations, this collection exudes happiness and enthusiasm as it captures the essence of Diwali.
Options suitable for both formal and informal gatherings
Super-exciting; Cover Story provides options suitable for both formal and informal gatherings, catering to a variety of tastes and events.
Whether you're attending a grand Diwali party or a cozy gathering with friends and family, you're sure to find the perfect outfit in this collection.
