21 May 2022, Mumbai:

Streetwear brand No Grey Area has launched AgniApaas, a new range of androgynous layered looks with abstract prints inspired by climate change.

No Grey Area has created a series of painterly prints depicting fire, water, carbon emissions, and other aspects of global warming to create a thoughtful and boldly conceptual clothing line.

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The collection AgniApaas is an amalgamation of abstract expressionism and surrealism, in its purest form to the point of simplicity.

The line features traditional craft techniques including Kantha and Zardozi embroidery and hand-stitched details.

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Shot by NishanthRadhakrishnan, the brand’s new campaign for the line juxtaposes the futuristic garments with traditional urban settings to create an atmosphere of quiet reflection.

The collection marries the concepts of the bhootas ‘Agni’ and ‘Apaas’ to illustrate the global issue of climate change, says ArnavMalhotra, Creative Director. The brand retails from its dedicated e-commerce store.

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12 May 2022, Mumbai:

Bollywood actor DeepikaPadukone has been signed by French luxury fashion house Louis Vuitton as their house ambassador.

Padukone has become the fashion house’s first Indian house ambassador in its 167-year history.

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The announcement also comes at a time when Louis Vuitton’s biggest outlet in India — at 7,376 square feet — is reportedly on the anvil in a mall for high-end luxury goods built by Reliance.

Louis Vuitton currently operates via three stores in India — in New Delhi, Mumbai and Bengaluru.

According to data accessed by *Toefler, Louis Vuitton India Retail's operating revenues range is Rs 100 crore to Rs500 crore for the financial year ending on 31 March, 2021.

According to the *Hurun India Wealth Report 2021, Louis Vuitton is the most preferred luxury goods brand among these households, followed by Gucci and Burberry.

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India is home to one of the fastest growing affluent households in the world and hence, the next decade presents a meaningful opportunity for luxury brands and service providers to enter/ further strengthen presence in India, says AnasRahmanJunaid, MangingDirector and Chief Researcher, Hurun India.

According to a *EuroMonitor report, 2022’s summer holiday period could be a huge growth opportunity for luxury goods in India depending on the threat level of the pandemic, given the emergence of a new variant of COVID-19 towards the end of 2021.

Padukone has been named a member of the jury of this year’s 75th Cannes Film Festival. In 2018, Time Magazine named Padukone as one of their “100 Most Influential People”. She was also recently awarded the TIME 100 Impact Award for her contribution to the field of film and entertainment.

Louis Vuitton is owned by Moët Hennessy Louis Vuitton, commonly known as LVMH — a French holding multinational corporation and conglomerate specialising in luxury goods.

It had a valuation of $329 billion in 2021 and is one of the most valuable companies in Europe. Its chairman and CEO, Bernard Arnault, together with his family, is the second-richest person in the world — with a net worth of $140.1 billion.

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CREDITS: As per a Toefler, Euromonitor & Harun Wealth report.

19 May 2022, Mumbai:

Sustainable womenswear brand Anavilla plans to launch a new Khadi collection ‘Quiet’ in three cities:, Bengaluru, Hyderabad, and Chennai.

The collection will be launched in Bengaluru from May 20 to 21.

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Anavila has teamed up with Indian fashion and lifestyle brand Good Earth for the event and will hold it at Good Earth’s store in the metro.

From May 23 to 24, Anavila will launch the handloom collection in Hyderabad and finally, the collection will be launched at Good Earth’s store in Chennai from May 25 to 26.

Quiet was created in collaboration with artisan weavers and natural dye specialists who sustainably rendered its designs.

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Anavilla was incepted in India in 2011 after a short stint abroad.

The brand launched its first linen sari after considerable thought and perseverance with various clusters and artisans.

The brand has been constantly evolving in the last few years, while firmly holding on to its core values of creating comfort through innovation and design working closely with artisanal clusters.

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18 May 2022, Mumbai:

The outlook for wearables in India remains strong in the current year with users from Tier II and III cities becoming attracted to it, says Upasana Joshi, *Research Manager, IDC India.

In Q1 FY’22 India’s wearable shipments grew 20.1 percent Y-o-Y to 13.9 million units.

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Second quarter growth too is expected to remain healthy due to continuing push from brands. Aggressive offers, sales, and marketing around the festive season in the second half of the fiscal (July-December) are expected to continue growth momentum through the year for wearable device categories, explains Joshi.

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The average selling price (ASP) of overall category declined 17.1 per cent Y-o-Y during the quarter primarily due to strong drop in ASP of watches. Consumers are being encouraged to spend more on wearables through aggressive discounts, new features, and a strong push from brands and channel partners, says Anisha Dumbre, Senior Market Analyst, Client Devices, IDC India.

The performance-linked incentive scheme is encouraging key players in the sector to venture into local manufacturing and launch ‘Made in India’ products, further lowering their selling price, adds Joshi.

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CREDITS: IDC India (The news article has not been edited by DFU Publications staff).

14 May 2022, Mumbai:

The net profit of Relaxo Footwears declined by 38.40 percent to Rs 62.93 crore in Q4FY’22. The brand had posted a net profit of Rs 102.17 crore in the January-March quarter of the preceding fiscal.

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The brand’s revenues from operations declined by 6.61 percent to Rs 698.19 crore during the period under review as against Rs 747.68 crore in the corresponding period of the previous fiscal.

Its total expenses increased marginally by 0.43 percent to Rs 619.66 crore against Rs 616.96 crore a year ago.

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For the entire financial year ended on March 31, 2022, Relaxo Foot wears' net profit declined by 20.19 percent to Rs 232.68 crore. It had reported a net profit of Rs 291.56 crore in 2020-21.

Its revenues from operations grew by 12.46 percent to Rs 2,653.27 crore in 2021-22.

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10 May 2022, Mumbai:

Campus Activewear’s latest Rs 1,400-crore initial public offering (IPO) was subscribed 51.75 times. Response to the IPO exceeded analysts’ expectations given the challenging market conditions.

The IPO was entirely a secondary share sale by existing shareholders including private equity firm TPG.

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One of India's largest sports and athleisure footwear brands, Campus Activewear manufactures and distributes a variety of footwear including running Shoes, Walking Shoes, Casual Shoes, floaters, slippers, flip flops, and sandals, in multiple colors, styles and at affordable prices.

The brand sells its products through online platforms and offline stores.

Analysts at ICICI Securities believe, that to sustain premium valuations the brand would have to replicate a similar growth trajectory.

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The brokerage firm’s 'subscribe' rating would enable it to deliver sustainable profitable growth, they add.

However, analysts at HDFC Securities say, the volatile financial parameters of Campus in the past do not guarantee any improvement in the future.

The brand relies on trade distribution and direct-to-consumer channels for the majority of its sales.

Any disruptions to operations of these channels or the brand’s limited ability to expand and grow this channel may adversely affect its sales, cash flows, and profitability, the brokerage firm adds.

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17 May 2022, Mumbai:

A collaboration between the Lakme Fashion Week and the Fashion Design Council of India, the FDCI X Lakmé Fashion Week (LFW) will organize its next edition from October 12-16, 2022 in Mumbai.

The fashion event held its first edition in New Delhi in March 2022 as opposed to its traditional location Mumbai, keeping in mind safety measures and regulations.

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Sunil Sethi, Chairman, FDCI says, the event gave designers an opportunity to showcase their creativity, up close and personal with the audience.

Sumati Mattu, Head-Innovations, Lakmé adds, that the March 2022 physical edition showcased Lakmé, RISE, and FDCI’s grit and determination to help the beauty and fashion community navigate through the new normal, and put their best foot forward.

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Jaspreet Chandok, Head of RISE Fashion & Lifestyle affirms, that the team received tremendous appreciation and support for the physical edition of the FDCI X Lakmé Fashion Week in March in New Delhi.

In its upcoming Mumbai edition, it aims to bring together the best of the physical and digital worlds and give various stakeholders across the fashion community a world-class platform to showcase their creativity.

09 May 2022, Mumbai:

The smartwatch market in India recorded a 173 percent year-on-year growth in Q1 FY’22, according to the latest research from Counterpoint’s IoT Service.

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As per the report, the growth was driven by growing consumer interest, multiple launches during the quarter, and the availability of various discount offers and promotions.

According to Anshika Jain, Senior Research Analyst the contribution of the <Rs5,000 ($67) retail price band increased to 87 percent from 78 percent in Q1 2021.

The Rs 1,000-Rs 2,000 ($13-$27) retail price band reached its highest ever share of 14 percent from just 2 percent a year ago.

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Noise led the market growth with a 23 percent share, its shipments doubled Y-o-Y in Q1 2022 due to the good performance of its newly introduced devices. The Colorfit Pulse was the brand’s best-selling model.

Fire-Boltt took the second position with a 21 percent share. It has multiple launches this quarter with the Ninja Pro Max being its most popular device

boAt recorded a 106 percent Y-o-Y growth and captured the third position with a 17.8 percent share. The Xtend and Storm models captured almost two-thirds of its total portfolio.

The brand also launched the Wave Pro 47, its first made-in-India smartwatch during the quarter.

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