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Brands-To-Retail 08-02-2022

Manyavar, Vedant Fashions: Last Day of IPO

08 February 2022, Mumbai:

It is an offer-for-sale by promoter and investors. Hence, all the money will go to selling shareholders and the company will not receive funds from the offer.

The public issue of Vedant Fashions continued to see tepid response from investors on the final day of bidding on Tuesday with 1.01 times being subscribed so far.

It garnered bids for 2.58 crore equity shares against an offer size of 2.54 crore equity shares. Qualified institutional investors have put in bids 2.58 times the reserved portion. Their allotted quota has to get subscribed at least 90 percent to sail through the issue.

Vedant Fashions IPO: What GMP signals on last day of subscription

A part set aside for retail investors and non-institutional investors were subscribed 35 percent and 11 percent, respectively. The Rs 3,149-crore public issue was subscribed 21 percent till February 7, the second day of bidding.

It is an offer for sale by promoter and investors.

Hence, all the money will go to selling shareholders and the company will not receive funds from the offer. The price band for the offer, which opened on February 4, is Rs 824-866 per share.

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

Brands-To-Retail 08-02-2022

Pepe Jeans forays into the D2C space

07 February 2022, Mumbai:

Fashion retailer Pepe Jeans has decided to foray into the D2C space. The brand uses ‘Commerce Cloud’ to deliver seamless e-commerce experiences, as per an Indian Retailer report.

The software enables customers to filter products on the brand’s website, find what they need, fill their carts, and enjoy a quick checkout process, says Manish Kapoor, Managing Director & CEO, Pepe Jeans India.

ETP Group partners with Pepe Jeans India to boost customer experience in the Fashion Industry - ETP

For the Commerce Cloud operations, the company relies on the support of cloud-based software company Salesforce.

Commerce Cloud service empowers the company to create seamless e-commerce experiences that inspire and convert today's connected shoppers. Pepe Jeans aims to not just create a great website but also to build a strong and engaged community around its brand.

ALSO READ: Manish Kapoor promoted as Pepe Jeans London’s MD & CEO

Using Salesforce, the brand has integrated the website with social channels to amplify the brand’s reach and engagement.

It has also partnered Indian celebrities and influencers to curate various ‘looks’ using Pepe Jeans outfits on social media.

If a consumer ‘likes’ any of these looks, they’re immediately redirected to the Pepe Jeans website to find out more.

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Brands-To-Retail 07-02-2022

ABFRL Q3 FY22 results

05 February 2022, Mumbai:

The Q3 profit of Aditya Birla Fashion and Retail (ABFRL) jumped by three-fold to Rs 196.80 crore against a net profit of Rs 58.44 posted in the year-ago quarter.

The company’s revenues from operations grew by 43.87 per cent to Rs 2,987.10 crore during the quarter under review, against Rs 2,076.19 crore in the corresponding period of the previous fiscal.

Abfrl | Latest & Breaking News on Abfrl | Photos, Videos, Breaking Stories and Articles on Abfrl

ABFRL's total expenses increased by 36.52 per cent to Rs 2,744.35 crore in the quarter, from Rs 2,010.17 crore a year ago.

Its revenue from Madura Fashion & Lifestyle segment surged by 57.59 per cent to Rs 1,990.52 crore, compared to Rs 1,263.10 crore in the year-ago quarter.

Pantaloons’ revenue increased 31.45 per cent to Rs 1,066.43 crore, against Rs 811.27 crore.

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Brands-To-Retail 05-02-2022

MiniKlub to launch sustainable summer/spring'22 collection

03 February 2022, Mumbai:

Anjana Pasi, Founder and Director, MiniKlub, reveals, the company plans to launch a sustainable summer wear collection soon.

Launched in 2013 to manufacture kidswear, MiniKlub has grown into a Rs 107 crore turnover company in the last one decade.

The brand has over 450 multi-brand outlets, leading large and regional large format stores across India. It mainly offers clothes for children — from newborns to six-year-olds.

MiniKlub also has a strong marketplace presence with Myntra, Amazon, Flipkart, and Ajio. It recently launched a sub-brand Mini Cuddles in the UK, in partnership with John Lewis – the largest cooperative in the UK. Mini Cuddles offers a comfy fashion range for kids aged up to two years old.

Miniklub - DLF - Mall of India

The core of the brand lies primitively in offering premium quality, says Kasi. It sources raw materials locally from India and Sri Lanka, where the brand has its second manufacturing unit. The main unit is in Bengaluru, Karnataka.

MiniKlub has been growing at around 13 per cent year-on-year, given that the brand is also planning to get listed in the next few years. However, one of the biggest challenges it faces is the rise in the price of cotton

The increase in cotton prices is set to stay due to the change in market equilibrium. The consumer will have to pay close to 15 percent higher, which will reduce the overall consumption, adds Pasi.

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Brands-To-Retail 03-02-2022

MiniKlub to launch sustainable summer/spring'22 collection

Manyavar Owned by Vedant Fashions: Day 2 IPO Subscription Status

06 February 2022, Mumbai:

Vedant Fashions Ltd.'s initial public offering continued to witness muted demand on the second day of subscription.

The IPO by the owner of the ethnic wear brand Manyavar—that was subscribed 14% on the first day—is a pure offer for sale of 3.64 crore shares by existing shareholders and promoters, the Kolkata-based wedding and celebration wear brand said in its red herring prospectus.

The price band is set at Rs 824-866 apiece. At the upper end, Vedant Fashions is seeking a market value of Rs 3,149.2 crore.

After the sale, the share of the promoter and promoter group will reduce to 84.9% from 92.4%. The company will not receive any proceeds from the offer.

Manyavar Owner Vedant Fashions IPO Next Week

The selling shareholders will be entitled to it entirely after deducting relevant taxes. The IPO aims to achieve the benefits of listing the equity shares on the stock exchanges.

The company expects the proposed listing to enhance visibility and brand image, and enable shareholders to obtain greater liquidity.

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

Brands-To-Retail 07-02-2022

Manyavar Owned by Vedant Fashions: Day 2 IPO Subscription Status

Manyavar-owned by Vedant Fashions: Raises funds from anchor investors

04 February 2022, Mumbai:

Vedant Fashions Ltd, which owns ethnic wear brand Manyavar, on Thursday said it has garnered Rs 945 crore from anchor investors, ahead of its IPO roll-out on Friday.

The company has decided to allot 1,09,09,450 equity shares to anchor investors at Rs 866 a piece, which is also the upper band of the public issue, aggregating the transaction size to Rs 944.75 crore, according to a circular uploaded on the BSE website.

Ravi Modi, Chairman and Managing Director, Vedant Fashions (Manyavar): EOY Award Finalist - YouTube

Government of Singapore, Monetary Authority of Singapore, Fidelity, Nomura, Abu Dhabi Investment Authority, Morgan Stanley Asia (Singapore) Pte, BNP Paribas Arbitrage and Societe Generale are among the anchor investors.

In addition, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company, SBI Mutual Fund (MF), ICICI Prudential MF, Axis MF, Kotak MF, Aditya Birla Sun Life MF, Sundaram MF, and UTI MF were also allocated shares.

The initial public offering (IPO) is purely an offer for the sale of 36,364,838 equity shares by promoters and existing shareholders.

The OFS comprises sale of up to 1.74 crore shares by investment Fund-Kedaara Capital AIF I; and up to 1.81 crore shares by Ravi Modi Family Trust.

The promoters of the company are Ravi Modi, Shilpi Modi, and Ravi Modi Family Trust.

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*Figures mentioned in the above article have been sourced from Business Standard article.

Brands-To-Retail 05-02-2022

Lovebirds, clothing brand to promote a sustainable approach to fashion

03 February 2022, Mumbai:

Clothing brand Lovebirds plans to promote a more sustainable approach to fashion by moving away from seasonal calendar.

The brand plans to release around four smaller collections a year which include versatile pieces which can be used in multiple seasons in a move to prevent waste.

For its latest collection, Lovebirds has experimented with sustainable fabrics including wool, organic cotton, and handwoven denim and this season its denim includes stripes of extra yarns which have been hand-cut.

The brand is gravitating towards wrinkly and textured fabrics that celebrate beauty in its crude, organic form, says Gursi Singh, Co-Founder.

It is also exploring a knitwear collection this year.

Launched by Gursi Singh and Amrita Khanna, Lovebirds aims to showcase a different take on the classic Indian aesthetic to a global audience.

The brand currently retails from its flagship store in New Delhi and its dedicated e-commerce store.

It plans to expand its retail footprint in 2022.

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Brands-To-Retail 03-02-2022

HanesBrands Reports results, envisages to Sell U.S. Sheer Hosiery Business

06 February 2022, Mumbai:

HanesBrands is proving that innerwear and activewear are pandemic-proof.

The Winston-Salem, N.C.-based innerwear and activewear company — parent to brands such as Hanes, Champion, Bali, Playtex, Maidenform, L’eggs and Wonderbra, among others — kicked off earnings season Thursday morning as it revealed quarterly and full-year results before the market opened, improving on top and bottom lines, raising its long-term growth targets and revealing plans to sell additional businesses.

Top 10 Most Comfortable Pantyhose For Women

In addition to the share-repurchase program, HanesBrands said it plans to sell its U.S. Sheer Hosiery business for an undisclosed amount. The transaction, which the company anticipates will close sometime this year, is part of the group’s continued efforts to focus on areas of the business with the greatest growth potential.

HanesBrands said it expects the U.S. Sheer Hosiery business to generate about $60 million in sales.

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

Brands-To-Retail 07-02-2022

HanesBrands Reports results, envisages to Sell U.S. Sheer Hosiery Business

Lux Industries reports Q3 FY22 results

04 February 2022, Mumbai:

In its Q3FY2022, Lux Industries posted a net profit of Rs 101.30 crore as against net loss of Rs 100.44 profit posted in Q2 ended September 30, 2021.

The company’s total income grew Rs. 668.01 crores during the quarter ended December 31, 2021 as compared to Rs 630.86 crores during the quarter ended September 30, 2021.

Lux Industries reports Q3 FY22 results

On year-on-year basis, Lux Industries posted a net profit of 101.30 crore for the period ended December 31, 2020.as against net loss of Rs 75.54 crore for the period ended December 31, 2020.

The company reported total income of Rs 668.01 crore during the period ended December 31, 2021 as compared to Rs 539.79 crore during the period ended December 31, 2020.

CREDITS: Equity Bulls

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*Figures mentioned in the above article have been sourced from Fashion Network article.

Brands-To-Retail 04-02-2022

FirstCry: Sovereign wealth fund invest, others offload stake in secondary deal

03 February 2022, Mumbai:

India’s sovereign wealth fund –the National Investment and Infrastructure Fund (NIIF) — has made its first bet on the country's internet economy with ecommerce firm FirstCry, people aware of the matter said.

NIIF led a $240-million secondary funding round in FirstCry, buying stock worth $100 million, sources told ET. The Pune-based company’s existing investor Premji Invest has also purchased additional shares in the company in the new round where SoftBank has sold the largest chunk of shares, people briefed on the matter said.

Chiratae Ventures and Newquest Capital Partners have also sold parts of their holding in the company.

SoftBank will still have around 30% in FirstCry parent Brainbees Solutions post this funding, people briefed on the matter said.

CREDITS: ET

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Brands-To-Retail 03-02-2022

FirstCry: Sovereign wealth fund invest, others offload stake in secondary deal

Manyavar, Vedant Fashions Ltd to expand retail and product network

05 February 2022, Mumbai:

Ethnic wear brand Manyavar’s parent company Vedant Ltd plans to grow its retail network and product reach by foraying into Tier II and III cities of India. The company believes, these market will offer it significant growth opportunities.

The company recently raised Rs 945 crorein investments ahead of its initial public offering which launched on February 4.

The funds were garnered from the company’s anchor investors including Government of Singapore, Monetary Authority of Singapore, Fidelity, Nomura, Abu Dhabi Investment Authority, Morgan Stanley Asia (Singapore) Pte, BNP Paribas Arbitrage, and SocieteGenerale. the Press Trust of India reported.

Growth and Global Expansion. Learning Objectives n n Identify the expansion strategy that a service firm is using. n n Discuss the nature of franchising. - ppt download

The business chose to allot over 109 lakh equity shares to its anchor investors at Rs 866 per equity share. This also makes up the upper band of the IPO and aggregates the total transaction size to Rs 944.75 crore.

The IPO, which rolled out on Friday, is an offer for sale of 363.6 lakh equity shares by the business’ promoters and existing shareholders.

The business’ promoters are Ravi Modi, ShilpiModi, and the Ravi Modi Family Trust and the IPO will conclude on February 8.

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*Figures mentioned in the above article have been sourced from Fashion Network article.

Brands-To-Retail 05-02-2022

Manyavar, Vedant Fashions Ltd to expand retail and product network

Bestseller India collaborates with social commerce platform Trell Shop

04 February 2022, Mumbai:

Retailer of brands like Jack & Jones, Vero Moda and Only, Bestseller India has collaborated with social commerce platform Trell Shop for retailing its products.

The launch of these brands on the platform marks Bestseller’s entry into the social commerce market in India. It will strengthen Trell’s offerings in the mass premium segment and strengthen its presence in the Indian fashion market.

As per the terms of collaboration, Jack & Jones, Vero Moda and Only will get access to Trell’s ecosystem of 18 million content creators and over a 100 million users across metro and non-metro cities, the two companies.

The Danish Rack - Jack & Jones, Vero Moda, Only - Home | Facebook

Present in 46 countries with over 2,800 mono-stores and 12,000 external multi-brand stores. In India, Bestseller also retails brands such as Selected Homme and Produkt. It currently has 375 exclusive brand outlets apart from 1,219 shop-in-shops in multi-brand stores in India apart from sales online.

On the other hand, Trell Shop offers products from several brands L’Oreal, Garnier, Plum Goodness, Calvin Klein, Elle 18, Global Desi, Bewakoof, among others.

The addition of Bestseller brands to its portfolio will expand its brands collection on the platform.

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Brands-To-Retail 04-02-2022

Bestseller India collaborates with social commerce platform Trell Shop

Cantabil Retail India’s Q3 FY22 results reported

02 February 2022, Mumbai:

Cantabil Retail India posted a net profit of Rs 23.7106 crore during the third quarter ended December 31, 2021.

The company’s total income increased to Rs 133.8306 crore during the third quarter against Rs 93.5991 crore income reported in Q2 ended September 2021.

Cantabil | Home

On a year-to-year basis, Cantabil Retail India posted a net profit of Rs 23.7106 crore during the year ended December 31, 2021.

Total income was Rs 133.8306 crore during the period ended December 31, 2021 as compared to Rs 101.4435 crore during the period ended December 31, 2020.

CREDITS: Equity Bulls

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Brands-To-Retail 02-02-2022