22 July 2022, Mumbai:

RBL SIGNS A DISTRIBUTION AGREEMENT WITH MAISON VALENTINO TO LAUNCH THE BRAND IN INDIA.

RELIANCE BRANDS LIMITED (RBL) has inked a long-term distribution agreement with Valentino to bring to India the most established Italian Maison de Couture. Through this long-term partnership, RELIANCE BRANDS LIMITED (RBL) will partner with Valentino to open its first boutique in Delhi, followed by a flagship store in Mumbai.

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The first store is due to open in 2022 by the end of the summer, with the flagship store in Mumbai to follow in the coming months. The stores will stock a complete range across womenswear, menswear, footwear, and accessories of the brand.

The new long-term distribution deal will allow brand presence through a renewed store concept geared toward adapting to the changes in the retail market.

The experiential design will provide customers with a global experience and a bespoke client experiential journey. “Valentino needs no introduction in India. Founded by the legendary Italian fashion designer

Valentino Garavani and Giancarlo Giammetti, Valentino has gone through impactful creative evolution under the current Creative Director Pierpaolo Piccioli and CEO Jacopo Venturini heralding the brand into contemporary luxury while leveraging its heritage as the most established Italian Maison de Couture,” said Darshan Mehta, MD of Reliance Brands Limited.

“The brand’s infectious romanticism, signature codes, and bold use of colour has strong resonance in India.

Reliance Brands Ltd (RBL) Report

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19 July 2022, Mumbai:

Leading value-fashion retailer, V-Mart has announced plans to organize end-of-season sales (EOSS) at 392 of its stores across the country. The sale will offer the latest designs in western wear, ethnic wear, and formal and seasonal fashion.

Stores in the southern region will offer 65 percent discounts during the sale event while the remaining stores will offer 70 percent discounts on over 20,000 styles/products of fashionable apparel and lifestyle products for men, women, and children.

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This year’s EOSS event will focus on women’s fashion and introduce a detailed range for female shoppers including boot-cut jeans, culottes, flared jeans, crop tops, off-shoulder tops, ruffle tops, peplum tops, tear dresses, pinafore dresses, etc.

The sale will also offer ample options for fashion-conscious men including ankle-length denim and trousers, check trousers, and damaged jeans, etc.

Vineet Jain, COO, V-Mart Retail says, through this sale, the company reiterates its commitment to offer patrons the best of the best fashion choices at pocket-friendly price points.

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22 July 2022, Mumbai:

The National Company Law Tribunal has directed the Bank of India to start the bankruptcy process for the cash-strapped retailer Future Retail. z

It dismissed Amazon’s allegations who accused Future Retail’s lenders of pushing the firm into insolvency by colluding with its founders.

The court also appointed an administrator to take over the management of Future Retail.

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The ruling enables Reliance to rebuild Future Retail’s business through an insolvency process monitored by the court.

As per India’s bankruptcy law, all money recovery cases against Future Retail will now restart. The ruling effectively stops Amazon from pursuing an arbitration case in Singapore against Future Retail, though cases against Future Retail’s founder Kishore Biyani and his other companies can continue.

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19 July 2022, Mumbai:

Fashion brand Mango’s sales grew 24.8 percent to €1.214 billion in the first six months of 2022. The brand’s sales surged past the figures achieved for the first half of 2019.

The brand’s gross operating profit also grew in the first six months compared to a year ago as its key markets performed well.

The company’s investments are expected to rise above €124 million for the year as a whole.

It will mainly focus on upgrading technologies, logistics, facilities, and stores, as per Tony Ruiz, CEO.

The brand’s growth was driven by a return to stores from April and the return of social events to drive turnover upwards, he adds. Its presence in more than 110 markets around the world also helped the firm in boosting business in main regions.

RELATED NEWS . Mango’s sales surge 24.8% in H1FY’22

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Mango focused on investing in countries such as Spain, France, the US, UK, Italy, and India.

It recently renovated its Haussmann flagship store in Paris and plans to open 300 points of sale by 2025 in Spain and France. In the UK, it plans to open in the new Battersea Power Station shopping centre in London, and in Italy, it plans to expand in the south region.

In the US, it plans a network of 40 stores by 2024. In India, meanwhile, it is partnering with Myntra to open 50 points of sale, with an estimated 15 to 20 more openings due in the second half.

By the end of the first half, Mango had 2,508 points of sale worldwide with 61 net openings since December. It expects to have more than 2,600 stores by the end of this calendar year.

CREDITS: Fashion Network

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22 July 2022, Mumbai:

Shopping for branded apparel has become more expensive with brands across India increasing the prices their winter collections last season and others hiking prices of summer collections in April. Retailers attributed the hike to rising raw material prices.

The prices of raw materials, especially cotton have increased by almost 70-100 percent, compelling retailers to increase MRPs by around 15-20 percent, point out experts.

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A few months ago, the Clothing Manufacturers Association of India (CMAI) estimated, that the summer collections for all brands this year are likely to become 15-20 percent costlier. And brands selling in the lower price range may tweak their product quality to reduce the price rise. However, they will not be able to completely avoid it, said CMAI

Brands suffer as inputs costs rise
Earlier, brands had refused to pass on their increased production costs to consumers due to sluggish demand. However, they were compelled to increase prices 5-10 percent due to various factors. In some Western countries, the price of commodities has set records in the last three-four decades.

The US and the UK now witness the highest inflation rate after 1982.
Meanwhile, apparel makers are struggling to survive due to rising production costs, hurdles in the supply chain, the crisis of raw materials, and hiked prices of utilities.

In Bangladesh, a major supplier of clothes to the world, the cost of garment production has shot up as prices of raw materials have gone up sharply.
Apparel prices set to rise again
Apparel retailers are looking to hike prices further. Fashion retailers like Shoppers Stop, Celio, and Arvind Fashions are looking to push up prices given the unabated rise in cotton prices.
Kulin Lalbhai, Director, Arvind Fashions and Executive Director, Arvind Limited says, they were unable to absorb the entire cost and were compelled to increase prices.

Similarly, menswear retailer Celio also indicated it may increase prices ahead of the launch of the next winter collection. If cotton prices remain as volatile as they are today, then a 5-6 percent price hike is possible.
Several apparel retailers hiked prices in the range of 5-15 percent towards the end of 2021 as they struggled with high cotton prices. Departmental-store chain Shoppers Stop, for instance, hiked prices 10-12 percent.

Interestingly, despite the price hikes, demand for apparel has remained strong, retailers say. However, there has been some demand dip in the value segment.
Enhanced demand to boost retailer’s revenues
Indeed, apparel manufacturers dauntlessly passed on their input costs to consumers. In the months of April and May, apparel inflation was as high as 10 percent as compared to the year before.

Still, it had no effect on sales. “Revenue recovery rate for most apparel and footwear players surpassed pre-Covid levels (100- 105 percent) from Q3FY22 onwards,” said a report by ICICI Securities.

The report further stated, as per the Retailers Association of India (RAI), they expect apparel and footwear retailers to demonstrate strong traction in revenue and earnings growth in the ensuing quarters driven by improved consumer sentiment and enhanced demand scenario for discretionary products.

And in an attempt to cash in on the customer demand revival, retail giants are chalking out big plans to add more stores and spread their retail network. Companies have a healthy store addition pipeline for the ongoing financial year as well.

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22 July 2022, Mumbai:

Retailers believe, the revival of fancy dresses and smart suits is either a post-pandemic flash in the pan, or heralds a renewed trend that will last a few more seasons.

Across the world, shoppers are shopping for elegant dresses and blazers. Demand for formal wear items from Ralph Lauren Corp., Nordstrom Inc and Macy’s Inc has surged. High-end clothing rental service, Rent the Runway is seeing more women hiring bold outfits for special occasions.

In Europe too, more demand for refined dressing styles has surged.

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Brands launch work leisure ranges
There is great enthusiasm for celebratory dressing—color, print, and new silhouettes, opines Shea Jensen, Executive VP, General Merchandise Manager, Nordstrom.

In July 2021, the brand launched a survey of 2,000 Americans exploring how the pandemic had affected their fashion choices and it showed 41 per cent plan to dress comfortably for the remainder of their lives. However, 35 per cent also said they are more open to trying new styles post-pandemic

Brands are adding more stretch to their officewear apparel to be in line with the demand for work leisure. Consumers are looking for work-friendly and comfortable officewear, avers Arjun Puri, Director, KAS Group Asia. Activewear brands are strengthening their offerings in office-ready styles, while traditional fashion brands are also launching active lines.

Adding comfort to fashion
Leading fashion brands have launched collections reflecting the changed mindset of people going back to work but not back to formal crisp officewear. A hardcore sportswear brand like Adidas has expanded into the underwear and lingerie segment. The brand is using more technical fabrics to make innerwear, to give it the everyday look.

Since the pandemic outbreak, there was an interesting shift toward comfort fashion. The lockdown witnessed individuals opting to find comfort in fashion instead of the previously preferred impeccable uncomfortable clothes.

This was a gradual shift as the world adjusted to living in these unprecedented times and working from home with all its comfort. Satyen Momaya, CEO, of Celio shares, that people have taken to loungewear, athleisure apparel, and comfortable clothing. It was one of the most in-demand commodities in 2020 and 2021 and continues to be in 2022 too.

Brands revamp formals for millennial consumers
The workplace is definitely moving towards being more casual, points out Momaya. Celio is working on fabrics and styling in shirts that are semi-formal and comfortable. Knit and Tencel shirts, combined with cotton are being launched to cater to this need, he adds.

According to Momaya, the casualization trend is here to stay with new fits replacing the wardrobe from skinny to more relaxed fits. Consumers are opting for more smart casuals in pants and tees, and Celio’s 100 percent linen T-shirts made from the most natural and sustainable fabric, are in demand, he adds.

Similarly, Peter England consumers are shopping for garments with hand-feel and are flexible, says Manish Singhai, Chief Operating Officer. The brand is seeing increased demand for premium casual wear in lighter tones, smaller checks, and linen.

With COVID receding, consumers are once again engaging in socializing and connecting with each. They are looking to spend more time outside their homes, evident in increasing visits for retail and recreation, attending weddings, resuming physical and hybrid modes of office, and traveling.

This miscellaneous consumer behavior may lead to increased demand for casual, semi-casual, and semi-formal apparel along with formal wear opines Singhai. To cater to this demand, fashion brands are offering more revamped formals that appeal to younger, modern consumers, he affirms.

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20 July 2022, Mumbai:

About Anushree Reddy:

Hyderabad-based designer Anushree Reddy began her design career in 2010 & the brand will hold a saree showcase event @ its Bougainvillea’14 store in Hyderabad’s Banjara Hills from July 22.

Reddy retails from her exclusive brand outlet in Hyderabad and numerous multi-brand outlets including Aza, Ogaan, and Pernia’s Pop-Up Shop. She launched her eponymous brand in 2010.

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A self-taught designer and management graduate Anushree made her debut at Lakme Fashion Week Summer/Resort 2013.

Pretty pastels, whimsy, romance, and exquisite craftsmanship come to mind when you think about Hyderabad-based designer Anushree Reddy’s bespoke creations.

The brand has become a celebrated fashion label.

CREDITS: Fashion Network

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19 July 2022, Mumbai:

Beauty and luxury intimate wear brand Victoria's Secret is planning to open its first offline store at Palladium mall, Mumbai in August this year with its local franchise retailer Major Brands, said Tushar Ved, President, Major Brands (India).

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Victoria's Secret, founded in 1977, is American lingerie, apparel, and cosmetics company recognised for its high-profile marketing and branding.

Victoria’s Secret had earlier launched an e-commerce store in India in partnership with Major Brands. The website features Victoria’s Secret’s line of fragrances, handbags, accessories, and beauty products.

CREDITS: ET

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