16 August 2022, Mumbai:

In its Q1 FY2023, Rupa & Company’s net profit declined by 74.75 percent to Rs 12.4487 crore from Rs 49,3149 crore in Q4FY2022.

Rupa company founder P R Agarwala G P Agarwala K B Agarwala enterprise total income declined by 52,01 percent to Rs 220.2716 crore from Rs 49.0416 crore. during the period ended March 31, 2022.

Rupa company’s EPS declined by 74.68 percent to Rs 1.57 from Rs. 6.20 for the period ended March 31, 2022.

On a Y-o-Y, Rupa & Co’s net profit declined by 57.32 percent to Rs 12.4487 crore from Rs 29.1655 crore for the fourth quarter ended June 30, 2021 The company’s net income surged by 0.13 percent to Rs. 220.2716 crores as compared to Rs.219.9836 crores during the period ended June 30, 2021.

Rupa has evolved to become the frontrunner in the innerwear and outerwear business in India. Its EPS declined by 57.22 percent to.1.57 for the period ended June 30, 2022, as compared to Rs.3.67 for the period ended June 30, 2021.

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 11 August 2022, Mumbai:

Women's apparel retailer Go Fashion (India), which added 30 new stores in line with the growth strategy in Q1 FY23, plans to expand store foot-print across geographies by adding around 120-130 new stores every year.

Go Fashion brand is also focusing on omnichannel engagements for a seamless consumer experience, building on a technology-driven growth strategy to reach consumers across all cities.

ALSO READ  Go Fashions to expand retail footprint 

go fashion clothing (India) reported a net profit at Rs 24.43 crore in the first quarter ended June 30 of the current fiscal 2022-23 as against the loss of Rs 18.99 crore in the same period of the previous fiscal 2021-22

Go Fashion’s revenue from operations increased more than five-folds at Rs 165.19 crore in Q1 FY23 as compared to Rs 30.99 crore in the same quarter last year

Its total expenses increased to Rs 136.93 crore in Apr-Jun quarter as against Rs 58.66 crore in the corresponding quarter of previous fiscal.

The company said it has seen this growth as it has been continually adding new products across all its bottom wear categories.

The Go Fashion store a house to women's bottom wear brand has taken a new warehousing facility of 12,177 sqft in Bhiwandi, Maharashtra to cater to the western regions of the country.

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16 August 2022, Mumbai:

Aditya Birla Fashion Retail (ABFRL) plans to open company-owned and operated stores of Reebok in select markets, instead of having stores only through its existing franchise model.

Last year, Aditya Birla Fashion and Retail Ltd signed a long-term licensing pact with Authentic Brands Group (ABG) - the owner of Reebok - for exclusive rights to distribute and sell the sports brand's products through wholesale, e-commerce, and Reebok-branded retail stores.

Aditya Birla Fashion said Reebok India’s operations will be transferred to it from October 1.

Reebok's primary model in India is a completely franchisee-owned one. AshishDikshit, Managing Director, Aditya Birla Fashion and Retail, says, the company will make some investments in at least the key markets where it aims to establish the brand more strongly and spend the company's money."

Reebok's operations will be classified under the subsidiary Madura Fashion and Lifestyle and will gain a net economic benefit for the second half of the fiscal year, the company said.

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10 August 2022, Mumbai:

The Melbourne-based premium fashion brand, Forever New has been on a vigorous and focused endeavor to reinforce its omnichannel presence in India.

By bolstering its omnichannel, the Australian retail chain Forever New has been able to achieve the same which has made the process of order fulfillment easier all across the country.

ALSO READ  Forever New launches first store in Ahmedabad

RELEVANT NEWS  Forever New: Opens its store in Gujarat 

With a strong penchant for greater accessibility, Forever New is also available across third-party e-commerce partner platforms such as Myntra, Nykaa Fashion, Tata Cliq, Shoppers Stop, and more. Undertaking this route has not only helped the brand to clinch a larger clientele but, this expansion has only been possible due to the efficacy and methodical structure of a well-organized omnichannel integration.

This progressive and enterprising approach by the brand Forever New has proven instrumental in securing substantial incremental sales over the months.

Partaking on this voyage of immaculate digital integration, the retail technology solutions giant, Ace Turtle, has proven to be a formidable ally since 2021 as it has been aiding the brand by providing a Unified Commerce Platform across all its digital channels.

With Ace Turtle’s forward thinking and disciplined approach, it has been able to aid the brand by assisting them in real-time inventory updates on portals and fulfilling consumer orders across various platforms from any stock points.

Further cementing a robust retail presence, the brand which recently launched its store in Ahmedabad, a first in the state of Gujarat, now enjoys a presence of 41 stores pan India including a mix of tier 1 cities such as Delhi NCR, Mumbai, Bengaluru, Hyderabad, Kolkata, Pune, Chennai and, other cities such as Chandigarh, Jaipur, Ludhiana and more.

With a strong penchant to further expand its retail outlets to other prospective cities as well, the brand aims to accomplish a total number of 45 stores by FY23.

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09 August 2022, Mumbai:

Retail footwear brand Khadim India reported robust business performance in the first quarter of this fiscal year.

The company posted a Profit Before Tax (PBT) of 45.42 million for Q1FY23, as compared to Rs 111.33 million in the corresponding quarter of last year.

The Khadims Profit After Tax (PAT) stood at Rs 33.49 million for Q1FY23, as compared to Rs 108.90 million in the corresponding quarter of last year.

ALSO READ Khadim: Forays Into Travel Retail 

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The company’s operational revenues grew by 88.23 percent to Rs 1,660.73 million in Q1FY23 as against Rs 882.30 million in Q1FY22. The brand’s EBIDTA in Q1FY23 stood at Rs 170.85 million compared to Rs (3.62) million in the same quarter of last year. The EBIDTA margin stood at 10.29 percent in Q1 FY 23.

Khadim India’s constant focus on crucial thrust areas that includes premiumization of the product range, expanding the brand’s retail footprint through new stores, strengthening the distribution network, increasing the brand’s presence through omnichannel, and driving data-driven consumer engagement has led to growth in revenue and gross margin.

The homegrown company continues its asset-light model expansion to optimize its retail presence to mark its dominance in the affordable fashion segment of footwear and accessories.

Khadim continued its expansion in Tier II and III locations taking the store tally to 796 by the end of the first quarter.

(Indian Retailer report)

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12 August 2022, Mumbai:

Page Industries’ (Jockey) Q1 FY23 net profit grew to Rs 207.03 crore against a net profit of Rs 10.94 crore posted during the April-June period a year ago.

Jockey undergarments’s revenue from operations during the quarter increased two-fold toRs 1,341.26 crores compared to a lower base of the pandemic-impacted Q1 FY22.

ALSO READ  Jockey expands retail & product footprint 

RELEVANT NEWS Nykaa: Consumers not yet cutting back on discretionary items

Jockey total expenses also doubled to Rs 1,070 crore as against Rs 490.57 crore earlier.

VS Ganesh, Managing Director, jockey underwear says, the company has delivered a milestone performance this year on account of its strong sales performance and robust financial planning, despite external challenges. The company will continue to augment its capacity and expand its retail network, he adds.

Page Industries is the exclusive licensee of Jockey International Inc (US) for manufacture, distribution, and marketing in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan, and the UAE.

It is also the exclusive licensee of Speedo International for the Indian market.

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10 August 2022, Mumbai:

Sports apparel and footwear brand Nike has launched its maternity collection, Nike (M), in India.

Embodying its inclusive design philosophy, Nike created Nike (M) by combining pregnancy data findings with analytics from more than 150,000 comparison scans of non-pregnant women against those of pregnant women.

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Designers also gathered detailed feedback on fit, feel and function from nearly 30 female athletes who were pregnant or postpartum, the sportswear retailer said in a statement on Tuesday.

Brands have been trying to bring about more inclusivity into their fashion maternity collections as well as brand narratives to appeal to a broader cohort of shoppers.

The maternity clothes you actually need focused on young mothers, the move is also key to democratizing set ideas around fashion and beauty especially as consumers seek diversity across fits and colors.

The Nike (M) maternity clothing is a five-piece essential capsule consisting of workout essentials such as a bra, tank, leggings, etc.

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11 August 2022, Mumbai:

Footwear retailer Liberty Shoes posted a net profit of Rs 5.47 crore in Q1 FY23 as against the loss of Rs 3.06 crore in the same period of the previous fiscal 2021-22.

The brand is celebrated for Liberty white school shoes and Liberty velcro shoes.

The company’s revenues from operations grew by 65 percent Y-o-Y to Rs 161.22 crore as compared to Rs 97.64 crore in the same quarter last year with a year-on-year growth of 65 percent.

ALSO READ Liberty Shoes reports Q2 results

RELEVANT NEWS Liberty Shoes’ Q4 FY21 net profit surges to Rs 7 crore Vs 2 crore corresponding period

Liberty shoes brands total expenses surged to Rs 153.65 crore in the Apr-Jun quarter as against Rs 100.77 crore in the corresponding quarter of the previous year.

Anupam Bansal, Director, Liberty Shoes brands says, the government’s focus on the manufacturing sector presents a bright outlook for the footwear industry, particularly for established and organized brands.

Rising disposable incomes are allowing individuals to move up the value chain, demanding products for different use occasions, leading to the emergence of new product segments in footwear, he adds.

Liberty shoes has enabled an interface with the emergence of online marketplaces and support infrastructure for logistics and billing. It is also focusing on increasing its omnichannel presence.

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08 August 2022, Mumbai:

As against a net loss of Rs 352.15 crore, Aditya Birla Fashion and Retail posted a net profit Rs 94.44 crore in the first quarter ended June 30, 2022.

Aditya Birla Fashion and Retail Ltd’s total revenues from operations grew threefold to Rs 2,874.76 crore as compared to Rs 811.95 crore in the same quarter last year. And it grew by 39 per cent over pre-COVID levels from Rs 2,065 crore in Q1 FY20.

ALSO READ ABFRL to develop customer experience program

RELATED NEWS . ABFRL bags seven VM&RD awards

ABFRL's total expenses in the April-June quarter more than doubled to Rs 2,771.02 crore in FY23 as against Rs 1,303.67 crore in the corresponding period in FY22, as per the BSE filing.

The company will continue to invest in strengthening its brand propositins and drive sales via both physical and online stores. Presently, Aditya Birla Fashion houses brands including Louis Philippe, Van Heusen, Allen Solly and Peter England. The company’s international brands portfolio includes

The Collective and it also has partnerships with Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle and Reebok.

Aditya Birla Fashion and Retail’s recent forays into ethnic wear business include brands such as Jaypore, Tasva and Marigold Lane. It also has strategic partnerships with Designers Shantanu & Nikhil, Tarun Tahiliani, Sabyasachi and House of Masaba.

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