27 May 2022, Mumbai:

Footwear retail chain Metro Brands’ (MBL) profit after tax was Rs 68 crore in the quarter ended March.

Total revenue from operations for the company stood at Rs 396 crore in the quarter. Nissan Joseph, CEO says, profitability was better than that achieved in the third quarter.

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It achieved a 24.5 percent rise in revenues, a 45.4 percent rise in EBITDA, and a 50.7 percent rise in profit after tax during the revenues.

The retailer maintained the same margin during the quarter as it did in the third.

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Though it increased the prices of a few products, Metro did not witness any demand erosion and was able to match consumer needs, Joseph says.

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The company opened 75 new stores and relocated 12 stores last year. It aims to maintain current growth levels in the future, notes Joseph.

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25 May 2022, Mumbai:

The fourth-quarter net profit of Rupa and Company increased by 25 percent to Rs 49 crore as against Rs 65 crore it posted in the year-ago period.

*As per a Fashion Network report, the company’s revenue during the quarter increased by one percent to Rs 459 crore, as against Rs 457 crore it reported in the corresponding period of the previous fiscal year.

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Income during the financial year 2021-22 increased to Rs 1,484 crore while net profit increased to Rs 191 crore.

Dinesh Kumar Lodha, the CEO, of Rupa and Company, say, the company recorded the highest ever full-year revenue and Profit After Tax in the company’s history during the year.

Growth can be attributed to its efforts to scale up high-margin businesses and strengthen its retail footprint nationwide.

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The company’s focus on key areas has set the platform for robust growth in the upcoming financial year 2022-2023. The company has always been committed to its long-term goal of providing the highest level of consumer satisfaction with its products and brands, adds Lodha.

One of the largest knitwear brands in India, Rupa & Company produces innerwear, casual wear, thermal wear, and sleepwear for men, women, and kids.

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CREDITS: *A Fashion Network Report.

27 May 2022, Mumbai:

The fourth quarter net profit of apparel manufacturer Page Industries grew by 64.86 per cent to Rs 190.52 crore. The company had posted a net profit of Rs 115.56 crore during the January-March period a year ago.

Revenue from operations of the company grew by 26.15 per cent to Rs 1,111.11 crore during the quarter under review, as against Rs 880.76 crore in the year-ago period.

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PIL's total expenses increased by 18.58 per cent to Rs 870.04 crore,in Q4/FY 2021-22, as against Rs 733.69 crore in the corresponding period of 2020-21. For the fiscal year ended March 2022, PIL's net profit soared by 57.53 per cent to Rs 536.53 crore.

It had reported a net profit of Rs 340.58 crore in the previous fiscal.

Its revenue from operations was at Rs 3,886.46 crore in 2021-22. This is 37.18 per cent higher than Rs 2,832.96 crore in the year-ago period.

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

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26 May 2022, Mumbai:

Direct to consumer (D2C) brand selling men’s innerwear, Almo has raised $2 million towards the pre-Series A funding round led by Infection Point Ventures.

The company will use the funds to bolster its branding and marketing efforts along with setting up its R&D lab.

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Investors such as LetsVenture, AngelList India, and other angels also participated in the round.

Founded in June 2020 by Abhishek Shah, Muskaan Jain, and ChhaviBhardwaj, Almo sells an essential wear range spanning underwear, topwear, loungewear, and winter wear.

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The brand aims to cross Rs 100 crore in revenue by the end of the current calendar year.

Almo plans to diversify into international markets this year through Amazon's Global Selling Propel Accelerator program.

The company will continue strengthening its team and brand to scale across various online marketplaces, says Abhishek Shah, co-founder, and CEO.

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25 May 2022, Mumbai:

TCNS Clothing Co’s women’s wear brand W has expanded its retail network in India by opening its largest experiential store in Bengaluru.

The store sells W’s full range of apparel, footwear, cosmetics, and jewelry.

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It showcases the brand’s new, unconventional and chic identity.

The store also houses W’s ‘Folksong’ line of handcrafted products as well as its ‘Wishful’ premium occasion wear line.

It features the brand’s western wear line with a range of Indian designs translated into western garments.

It also offers the plus-size range from the brand.

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W is owned by TCNS Clothing Company, a designer, manufacturer, and retailer of a wide portfolio of women’s apparel brands. The company retails its products through over 600 exclusive brand outlets, over 2,000 large format store outlets, and 1,000 multi-brand outlets.

It also has a number of international stores in countries including Nepal and Sri Lanka.

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26 May 2022, Mumbai:

Kazo Brands launched a new platform KZ07 during the recent Delhi Times Fashion Week.

The platform will launch its first unisex and versatile collection targeting the youth in June.

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The collection titled KZ07 NY mixes shades of grey and neutrals with neon and bright hues. Garments in the collection have a basic yet impactful style. The Neon in the collection stands for the brand’s uniqueness.

The collection will be available in soon to be open KZ07 store in Delhi NCR. The brand will be available on its official website KZ07.com.

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They also have plans of listing online stores like Nykaa, Myntra, Ajio, and Tata Clique.

Kazo Fashion is an Indian women’s wear brand, founded by Deepak Aggarwal in 2007.

The brand offers the latest international fashion trends at affordable prices. The parent company BL International, an apparel export house, was established in 1991.

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25 May 2022, Mumbai:

America’s favorite jeans brand since 1977, American Eagle Outfitters plans to launch 50 stores in India in the next three years.

The brand launched its first franchise store in Jaipur under license from American Eagle Outfitters to Aditya Birla Fashion and Retail.

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Spanning 1,700 sq ft, the Jaipur store is spread across two floors.

It is the first high street store for the brand in India. The store offers the attest trends in jeans, which includes an extended size offering sizes ranging from 24-36 inches for women and 29-38 inches for men.

The range for men includes the new Airflex+ Skinny and 360 Slim denim, plaid shirts, polos, and graphic logo tees.

The range for women includes fashion and comfort jeans from the Mom Straight to the Super High-Waisted Flare, which can be paired with a new assortment of smocked woven tops, comfy graphics and baby tees.

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The new denim collection also features the ‘Real Good’ badge. This icon denotes American Eagle products made with the planet in mind and manufactured using more sustainable techniques, in a facility that meets AEO Inc.’s standards for water recycling and reduction.

A leading global specialty retailer, American Eagle Outfitters offers high‐quality, on‐trend clothing, accessories, and personal care products at affordable prices under its American Eagle Outfitters® and Aerie® brands.

The company operates more than 1,000 stores in the US, Canada, Mexico, China and Hong Kong, and ships to 82 countries worldwide through its websites.

American Eagle Outfitters and Aerie merchandise also are available at more than 190 international locations operated by licensees in 24 countries.

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27 May 2022, Mumbai:

A sharp rebound in sales is expected to increase revenues of apparel retailers by 20 per cent rise in FY23.

ALSO READ: Terrain Fashions posted Q3 FY22 earnings

Retailers are benefiting from pent-up demand coupled with recurrent weddings, and the onset of the first full-fledged academic year post-pandemic, says Charath Narasimhan, Managing Director, Indian Terrain Fashions.

The push towards return-to-work is also driving sales leading to many retailers expanding their store network in smaller cities, adds Narasimhan.

RELEVANT NEWS:  Indian Terrain Fashions: Sales rebound adds decently to retailers’ revenues in FY’23

His company closed about 25 outlets during the pandemic but opened about 70 stores in different cities, taking the total number of stores to 210. The Chennai-based company plans to open 25-30 more stores in the next six months.

New generation of buyers prefer to buy clothes online, he adds. Indian Terrains has opened an online window to cater to this need, Narasimhan informs.

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