24 March 2022, Mumbai:

Valentino, the well-known Italian luxury fashion house, is reminiscing about the days before the epidemic.

The luxury house stated that it made a profit in 2021, albeit it couldn't disclose specific figures since its financial statement hadn't been authorized yet.

The fashion label generated €1.231 billion in 2021, a 39.5 percent increase year over year (Y-o-Y). Notably, the growth was 3 percent over 2019. Valentino's revenues increased by a healthy 11% year over year in the fourth quarter, with direct retail sales increasing by 29%.

ALSO READ Luxury brands hike prices as sales rebound

(DTC). Valentino attributes the positive results – particularly in the fourth quarter – to an increase in price sales as well as the strengthening of the design house's tailored concierge service (available online too).

Valentino is also benefiting from the fact that it is broadening its client base by targeting young people.

In Europe, North America, and the Middle East, the Italian fashion house had the fastest growth rates.

RELATED NEWS Millennials & Generation Z are now more inclined than previous generations to value luxury

Valentino's DTC's short-term goal, according to FashionNetwork.com, is to reach a 70% market share by 2024-2025.

Its direct-to-consumer (DTC) sales are said to account for 57% of overall sales.

Valentino presently has over 200 directly owned outlets in over 100 countries. It was established in 1960 and is recognised for its clothing, footwear, fragrances, and fashion accessories, among other things.

Join our community on Linkedin 

CREDITS: Apparel Resources.

16 March 2022, Mumbai:

The Body Shop to launch 20 sustainability-focused workshop stores this year.

The Body Shop, a premium beauty brand, has transformed its top store in Mumbai’s Palladium Mall to a unique sustainability-focussed activist workshop, where not only products but even store fixtures are outfitted with recycled and sustainable materials.

Going ahead, the company plans to launch 20 more such stores in the country this year and eventually transform all its outlets to activist workshops.

ALSO READ: As Sustainability Concerns Increase: Organic Apparels Acceptance Grows

“It is the new global identity of the brand where we are bringing purpose-led ideology to life and hence we have launched a store which speaks sustainability at every level,” said Vishal Chaturvedi, Vice President, The Body Shop India.

RELATED ARTICLE All things style and sustainability: Riri’s SS 2023 lands in Paris

Join our community on Linkedin 

CREDITS: Money Control.

12 March 2022, Mumbai:

Council for Leather Exports, India (CLE)

Service to Leather & Leather Products Exporters since 1984.

The Council for Leather Exports (CLE) is the single largest and Apex trade promotion orgnisation of the strong and rapidly growing Indian leather & leather products industry.

CLE is committed to the overall development of the Indian leather sector and achieving higher export growth to enhance India’s share in the global leather trade.

ALSO READ: The Council for Leather Exports is optimistic that the Union Budget would help the sector

Production Linked Incentive Scheme (PLI)

PLI for Large Scale Manufacturing

The domestic manufacturing sector faces a lack of a level playing field vis-à-vis competing nations.

The sector suffers disability on account of lack of adequate infrastructure, domestic supply chain and logistics;

high cost of finance;

inadequate availability of quality power;

limited design capabilities and focus on R&D by the industry;

and inadequacies in skill development.

*Council for Leather Exports (CLE) on Wednesday urged the government to extend the production-linked incentive (PLI) scheme to the sector and consider setting up a leather park to boost manufacturing, export, and job creation.

CLE Chairman Sanjay Leekha said India's leather and footwear exports stood at USD 5.5 billion at present, which is expected to be doubled by the end of 2025.

Besides, the market size of the domestic leather and footwear sector will grow from USD 12 billion to USD 20 billion by 2025, he said at the Leather Accessories Footwear Conclave and Awards of North India-LAFCAN-2022.

Leekha sought "the support of the government in achieving the envisaged targets by extending the PLI (scheme) to the leather sector and also considering a leather park scheme similar to the textile sector".

RELATED ARTICLE Import duty exemptions on leather products to boost exports, says CLE

Join our community on Linkedin 

CREDITS: ET.

25 November 2021, Mumbai:

While Covid restricts travel and duty-free shopping, South Koreans are fueling a luxury goods boom at home, with Chanel excluding roughly a third of would-be customers in order to prevent bulk buyers from snatching $10,000 bags for resale at markups of 20% or more.

Traffic to the legendary French fashion and luxury company's South Korean stores has decreased after it began screening clients it suspected of stocking up just to resell to others in the secondhand market.

"After analyzing their purchasing patterns, we were able to identify them (bulk purchasers). Since the implementation of this restriction, traffic in our boutiques has reduced by 30% "recent," Chanel said in a statement to Reuters.

ALSO READ Leena Nair takes over as in new Chanel Global CEO

It didn't say how it determined those consumers were prospective bulk purchasers, and the privately held company doesn't break down sales by nation.

Chanel's plan, which has been in effect since July of last year, coincided with a recovery in worldwide demand for luxury products following the worst of the coronavirus epidemic. 

South Korea is the world's seventh-largest luxury goods market, and it was one of just two of the top seven economies by revenue - the other being China - to have sales increase from 2019 levels last year.

With limited internet purchasing options beyond cosmetics, fragrances, and a few tiny accessories, supply at labels like Chanel is closely managed, preserving exclusivity and promoting attractiveness.

RELATED NEWS 16 BRANDS TO STAGE PHYSICAL SHOWS AT PARIS COUTURE WEEK

Long lines develop outside department shops before daybreak in downtown Seoul, as consumers prepare for what's known as an 'open run,' a dash to Chanel's doors at opening time.

"I came... at 5.30 a.m. for an open run and was told there were more than 30 people in front of me," a shopper in front of a Chanel outlet in Seoul told Reuters.

Because of privacy concerns, he spoke on the condition of anonymity. He stated the item he sought was sold out by the time he visited the store, which was approximately 10 hours later.

A Chanel medium classic flap bag was sold for 13.5 million won ($11,031) in January on KREAM, a portal that sells everything from shoes to tech and luxury items and is an offshoot of tech giant Naver Corp., demonstrating the resale market's ferocious demand. KREAM, which stands for 'Kicks Rule Everything Around Me,' was released in the year 2020.

It told Reuters that in December, monthly transactions surpassed 100 billion won, and that the resale market in South Korea is worth more than 1 trillion won, or roughly $820 million, even by conservative estimates.

Join our community on Linkedin 

CREDITS: Reuters Euromonitor & Fashion Network.

15 March 2022, Mumbai:

Sports brand PUMA launched its digitally-enabled experiential store at Orion Mall in Bengaluru today.

This is PUMA’s largest store in South India.

The store launch was attended by KL Rahul, Vice-Captain of the Indian cricket team & PUMA athlete, and Bollywood Actor Athiya Shetty.

ALSO READ PUMA: Celebrates This Women’s Day In A Style

PUMA’s newest store is a significant step by the brand to provide an unprecedented experience to its shoppers and create meaningful offline engagement. With a focus on bringing technology, sports, and experiential retail under one roof, the store has state-of-the-art offerings including F1 Simulators & interactive retail screens.

Throughout the year, the brand’s premium store will also showcase limited-edition global collaborations for men, women and children.

RELATED ARTICLE In India, Puma launches their second-largest shop

Join our community on Linkedin 

CREDITS: Business News This Week (The news article has not been edited by DFU Publications staff).

12 March 2022, Mumbai:

Metro Brands Ltd has launched just the right footwear range for you.

The brand’s latest athleisure range ‘Activ’ is for consumers who are active in their everyday lives.

The new range makes their daily weekday hustle fun while also sprucing up their outdoor weekends jogging, walking, cycling, or even playing with the kids.

ALSO READ: Metro Brands signs strategic partnership deal with footwear brand 'FlipFlop'

‘Activ’ is available for both men and women in a variety of colors like black, grey, olive green, and pastel blue and pink and in a range of styles like slip-ons, lace knitwear, premium knitwear, zigzag heels, and cushion soles.

The collection is ideal for people who hustle to work, daily commuters on the move, morning walkers, and even for those heading out to a dance class.

ALSO READ: Metro Brands' net profit in the Q3 increased

Alisha Malik, President, E-commerce, and Marketing Metro Brands Ltd said, “Metro Brands Ltd believes in offering choices to consumers that enable them to remain true to their individuality.

The styles available for both men and women under the ‘Activ’ collection add the fun and quirky element for those who follow an action-packed routine through the week and love to hang out in the outdoors during weekends.”

RELATED ARTICLE This is going to be India’s decade: Nissan Joseph, CEO, & Farah Malik, MD, Metro Brands

Join our community on Linkedin 

CREDITS: Indian Retailer.

15 March 2022, Mumbai:

At a glittering event, GJEPC the apex body of the gem & jewellery trade in India, felicitated Bijayananda Pattanayak, Executive Vice President and Head - Global Diamond & Jewellery Group, IndusInd Bank, for his unstinted service to the diamond and jewellery industry.

The felicitation ceremony was held in the presence of Colin Shah, Chairman, GJEPC; Arun Khurana, Deputy Managing Director, IndusInd Bank; Vipul Shah, Vice Chairman, GJEPC; Russell Mehta, Convener Diamond Panel, GJEPC; Ajesh Mehta, Convener, Banking, Insurance & Taxation Sub-Committee, GJEPC along with other prominent trade members from the diamond and jewellery industry and banking fraternity.

ALSO READ GJEPC: Alrosa Assurance Relieves Indian Diamond Industry

Expressing his gratitude to Pattanayak, Colin Shah, Chairman, GJEPC, said, “Biju Bhai's deep understanding of the entire chain of operations -- right from sourcing of rough diamonds to selling of jewellery -- makes him the true master of financing in the gem and jewellery trade.

Thanks to his keen analytical mind and knack for maintaining meaningful personal relations with all his clients, over the past few years, Biju Bhai has been the driving force in making IndusInd Bank one of the leading financiers for in mid-stream segment of the diamond supply chain.” Bijayananda Pattanayak, said, “It's an overwhelming moment for me to be honoured by GJEPC and the industry veterans who have been working with me for so many years.

The industry has seen a lot of transition over the years, mostly for the good. And there were times when banking was very difficult when we went through so many ups and downs.

But the GJEPC has played a stellar role in helping to implement progressive, game-changing reforms, such as the Diamond Dollar Account.”

Vipul Shah, Vice Chairman, GJEPC said, “Indian banks have played a significant role in supporting the diamond industry from its infancy all through its journey of becoming No. 1 in the midstream segment.

RELATED ARTICLE The Gem & Jewellery Export Promotion Council (GJEPC), IIJS to be held at Bangalore, 24th to 27th March 2022

Join our community on Linkedin 

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

11 March 2022, Mumbai:

About CavinKare  

Brands at the heart of innovation Innovation led the transformation from a pure Personal Care player to an FMCG conglomerate with Dairy, Snacks, Food, Beverages, and Professional Care business.

Erica Jennifer Fernandes

She is an Indian actress and model, who works in Indian television and films. She made her acting debut in 2013, Tamil film Ainthu Ainthu Ainthu. She got her breakthrough with her television debut, portraying Dr. Sonakshi Bose Dixit in Kuch Rang Pyar Ke Aise Bhi.

ALSO READ: Kriti Sanon and Mimi Chakraborty star in the Joy Personal Care advertisement

*Fast-moving consumer goods major CavinKare has revamped its national haircare brand Nyle Naturals and has unveiled a slew of new variants, the city-based company said on Thursday.

The company said under its revamping exercise, it has roped in actress Erica Fernandes as the brand ambassador for Nyle Naturals shampoo.

CavinKare said it has launched three shampoo variants -- soft and shiny, anti-dandruff, and strong and health -- repositioning the brand as an anti-hair-fall range of shampoos.

The company has associated with the branding and design agency Almond Branding, Mumbai, and has unveiled a new television commercial under the revamping exercise.

RELATED ARTICLE D2C Beauty and personal care brand 'Plum' to open 50 stores by 2023

Join our community on Linkedin 

CREDITS: ET.