16 February 2022, Mumbai:

Levi's said it didn't force out brand president Jennifer Sey amid the executive's outspokenness on COVID-19 related school closures in California.

"Today, Levi Strauss & Co. announced management changes affecting our executive leadership team. Seth Ellison, executive vice president and chief commercial officer will assume responsibility as the Levi’s brand president on an interim basis in addition to his commercial duties, replacing Jen Sey, who resigned from the company.

LS&Co. has initiated a search for a new Levi’s® brand president, an opportunity to lead one of the world’s best known and most respected consumer brands," a Levi's spokesperson told Yahoo Finance in an email.

Yahoo Finance also asked Levi's if it has a COVID-19 vaccine mandate. "

ALSO READ: LEVI’S TOPS REMAKE’S SECOND ANNUAL ACCOUNTABILITY REPORT

Since the start of the pandemic, our priority has always been the health and well-being of our employees and our customers, and one of our principles has been that we will follow all local laws and ordinances.

We strongly encourage employees to receive COVID vaccinations.

For our San Francisco corporate offices people are coming to do essential work, and we return to hybrid work later this month," the spokesperson added.

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*Figures mentioned in the above article have been sourced from finance.yahoo.com article.

17 February 2022, Mumbai:

Fashion retail major Aditya Birla Fashion and Retail (ABFRL) plans to acquire 10 digitally-native or direct-to-consumer (D2C) brands in the next 12-14 months while at the same time launch five-six such brands in-house as it tries to grab a share of the rapidly-growing D2C segment, the company’s Managing Director Ashish Dikshit told Moneycontrol.

In the long term, about three-four years, the ABFRL subsidiary that will be created to invest into early-stage brands, will house about 25-30 digital-first brands, he added.

According to Dikshit, the company has set its sight on the channel as it does not want to miss out on consumers of the future.

ALSO READ: Aditya Birla Fashion (ABRFL) to handle Reebok India retail

“While our existing brands will grow and continue to remain relevant and (eventually) become more digitally-savvy, there is a whole bunch of new digital-first brands, which would come up and that's why we decided this strategy,” said Dikshit.

The company, said the MD, is eying 10-15 percent of its revenue coming from its D2C subsidiary in the next five years.

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*Figures mentioned in the above article have been sourced from Money Control article.

16 February 2022, Mumbai:

A Carvico Group company at the top of the international textile industry in the field of warp-knitted technical fabrics represents Made in Italy style and creativity interpreted by its Sensitive® Fabrics.

Thanks to an entrepreneurial strategy that combines innovation and constant attention to quality with sustainable development of its large-scale production, as well as promoting continuous economic investments related to the fine-tuning of the production process, the Company has a growing turnover. The year 2022 will see investments and resources of around 9 million Euros.

"The areas involved," confirms Andrea Crespi, General Manager of EUROJERSEY, "concern the completion of the new Atelier division in the Knitting department, which when fully operational will have 12 looms, the development of the Dyeing project with the implementation of new dyeing machines with the aim of reducing water use by 15%, and the inclusion of new machinery for the preparation and finishing of fabrics."

ALSO READ: EUROJERSEY presents the printing technologies of the Lingerie Collection SS23 of SensitiveR Fabrics

Thanks to investments in recent years, the Company increased its turnover in 2021 by +27.5% compared to 2020.

"Not only that," says Matteo Cecchi, Sales Director, "we can say that we are at +10% compared to 2019, having closed 2021 with a turnover of 80 million.

The priority objective now for 2022 is to consolidate the results achieved and aim for a further increase of +5% on the previous year".

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17 February 2022, Mumbai:

A new partnership between Cotton Australia in alliance with Cotton On Kids featuring cotton-growing families has launched on the back of the Australian-grown cotton quality strength, which is rated as one of the most sustainable & superior cottons globally.

About Company

Cotton On Group is Australia's largest global retailer & Cotton On Kids and part of. It is known for its fashion clothing and stationery brands.

The brand has committed to using Australian cotton to produce more than four million items of children’s clothing. 

ALSO READ: During the period 2021-2026, the Indian kidswear market is expected to rise at a CAGR of 14.5 percent

*“We couldn’t be more excited about the launch of this new range, it’s something we have been dreaming about and planning for some time now and we can’t wait to bring it to our customers.

Cotton On Kids is all about making a positive difference in the lives of not only our customers, but the people around us and we know that this new range featuring cotton grown right here in our backyard is going to be something they love,” Cotton On Kids head of customer Marina Berber said.

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*Figures mentioned in the above article have been sourced from Retail Now article.

16 February 2022, Mumbai:

Vedant Fashions |

The listing was on expected lines given the tepid response from investors, expensive valuations, the complete offer for sale issue, and the market volatility.

Vedant Fashions is the largest company in India in the men's Indian wedding and celebration wear segment.

Vedant Fashions, which offers Indian wedding and celebrations wear, started off first day first trade on a positive note as the stock listed with an 8 percent premium to issue price of Rs 866.

It was the third debut on the bourses in 2022 after AGS Transact Technologies and Adani Wilmar.

The stock opened at Rs 936 on the BSE, and the opening price on the NSE was Rs 935.

The listing was on expected lines given the tepid response from investors, expensive valuations, the complete offer for sale issue and the market volatility.

The maiden public offer of Vedant Fashions saw 2.57 times subscription during February 4-8 as the maximum support was led by qualified institutional buyers whose reserved portion was subscribed 7.49 times.

ALSO READ: Manyavar’s owner Vedant Fashion’s IPO oversubscribed

However, there was muted demand from non-institutional investors and retail investors whose allotted quota was booked 1.07 times and 39 percent respectively. 

Will market sentiment weigh? Vedant Fashions, the ethnic wear brand Manyavar owner, to be listed on February 16 The company raised Rs 3,149.19 crore through its public issue that was entirely an offer for sale by promoter and investors.

Hence, the company did not receive issue proceeds as the IPO money was received by the selling shareholders.

The price band for the offer was Rs 824-866 per share. Most of the analysts had recommended the issue for long-term gains and not for listing gains.

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*Figures mentioned in the above article have been sourced from Money control & Zeebiz article.

17 February 2022, Mumbai:

As Myntra continues to strategically bolster its international brand portfolio, the fashion major announces the launch of the legacy global sportswear brand, ‘New Balance’, on its platform.

Established in 1906, New Balance exemplifies the global sporting culture and enthusiasm spanning decades, known for its remarkable products that are a perfect blend of function and fashion for the everyday and professional athlete.

With a long standing commitment to elevating sports, New Balance is well-known as the leading sponsor of Boston and NYC marathons. It has a strong global fan following, especially among those who are serious pursuers of sports, fitness and those who appreciate the technical features of the sporting gear.

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Speaking on the launch, Sharon Pais, Chief Business Officer, Myntra said, “As the preferred shopping destination to introduce and house a bevy of leading international brands for shoppers, we are excited to onboard New Balance, a legacy global brand that has served millions of sports enthusiasts and professionals for decades.

New Balance’s partnership with Myntra gives a significant jump to the evolving domestic sports and fitness segment as it opens up one of the largest markets to the iconic brand, considering Myntra’s thriving customer base and deep reach, while also offering a leading brand in global sports and fitness, to our customer base.”

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*Figures mentioned in the above article have been sourced from India Education Diary article.

15 February 2022, Mumbai:

Myntra Announces The Second Edition Of Its Kurta And Saree Fest; Set To Host ~500 Indianwear Brands Showcasing Over 1,25,000 Styles From Across The Country.

As one of the go-to destinations for Indian wear in the country, Myntra announces the second edition of its Kurta and Saree Festival, being held on 15th and 16th February on its platform.

Myntra’s massive Indian wear portfolio currently hosts around 2,00,000 + styles with the largest collections from popular brands such as Biba, W, Libas Aurelia, Pantaloons, Fabindia, House of Pataudi and Pothys among others.

Of these, the event will witness participation from over 500 sought-after brands showcasing their signature collections that span across elegant traditional, graceful handloom and modern contemporary types of Kurtas and Sarees.

ALSO READ: Myntra Beauty launches French natural skincare brand, Caudalie, on its platform

W, Biba, Aurelia, Libas, Anouk, Global Desi, Pothys, House of Pataudi, Sangria, Vishudh, The Chennai Silks, Taneira, Taavi, Neeru’s, Indya, and Meena Bazaar are some of the popular brands that have amazing offers as a part of the ongoing two day event.

The Indian wear on Myntra is currently witnessing promising growth, largely driven by fashion loving women consumers.

Myntra has also been adding 1000 fresh styles across popular categories such as Kurta Sets, Kurtas, Sarees and Ethnic Dresses, every week to its collection, thereby ensuring its women shoppers always have something new to look forward to regularly.

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*Figures mentioned in the above article have been sourced from India Education Diary article.