The operating revenues of home goods, accessories, and furniture business Pepperfry increased by 10 per cent Y-o-Y to Rs 272.3 crore in FY’23, as per a report by business intelligence platform Tofler. The company had reported operating revenues of Rs 246.9 crore in FY’22.

Net losses of the Mumbai-based online business decreased slightly to Rs 187.6 crore in FY’23 as compared to Rs 194 crore in FY’22. The reduction was a result of Pepperfry’s expenses rising at a slower pace of 3.5 per cent Y-o-Y, compared to its top-line.

Pepperfry’s warehousing and logistics expenses also reduced to Rs 87.4 crore in FY’23 compared to Rs 89.3 crore in the FY’22 financial year. Its advertising and promotional expenses reduced by 10 per cent Y-o-Y to Rs 106 crore.

Pepperfry’s expenses increased to Rs 474.1 crore during the year as its finance costs, depreciation expenses and expenses towards employee benefits increased..

Luxury clothing label Falguni Shane Peacock inaugurated its latest flagship store on Lee Road in Kolkata, just in time for the winter wedding season. Marking its fifth store in India, the Bhowanipore district location showcases the brand's bridal and occasion wear designs.

Designed by celebrity Gauri Khan, the store boasts a bright, white ambiance with a statement fireplace, embodying the brand's opulence. Positioned alongside stores in New Delhi, Mumbai, and Hyderabad, this addition caters to West Bengal's elite.

The store exclusively features the Autumn/Winter 2024 collection, offering a personalized shopping experience for brides-to-be through a concierge facility.

Falguni Shane Peacock, founded by the design duo Falguni and Shane Peacock, has globally adorned celebrities like Britney Spears, Kareena Kapoor Khan, and Beyoncé, while also curating The Peacock Magazine.

22 November 2023, Mumbai

Brand Studio Lifestyle, the operator of a fast-fashion brand, has reported an impressive 132 per cent year-on-year growth in total monthly units shipped in October of this year. The company successfully shipped a total of 43 lakh products, attracting a substantial number of new customers to its portfolio.

In terms of customer acquisition, the company added eight lakh new customers to its online channels, experiencing significant customer growth in Tier II and III cities.

Nuanced picture

Currently, over 65 per cent of Brand Studio Lifestyle's revenue is derived from these smaller cities, a notable increase from 40 per cent observed a few years ago. Astha Sahay, Director-Commerce, attributes this trend to the rising aspiration for youth-centric fashion in these areas.

Sales from multi-brand e-commerce platforms like Mytra, Flipkart, and Ajio contributed 90 per cent of the company's revenue during the month, while the remaining 10 per cent came from direct-to-customer websites. Established in Bengaluru in 2015, Brand Studio Lifestyle operates a house of brands model, specializing in apparel brands. It boasts a portfolio of six labels, including Highlander, Tokyo Talkies, Vishudh, Ketch, Locomotive, and Hoop, offering both western and ethnic wear.

Latest Textile Events

House of fashion brands, ‘Brand Studio Lifestyle’ has forayed into the Middle East e-commerce market by launching its apparel portfolio in the region.

The Bengaluru-based company has partnered with a number of e-commerce platforms in the region to reach new shoppers and boost its revenue. 

The business has partnered with UAE-based e-commerce platforms like Styli, Noon, Namshi, and Centerpoint to retail these labels online across the UAE, Saudi Arabia, Bahrain, Kuwait, Qatar, and Oman.

Shyam Prasadm CEO, Brand Studio Lifestyle, says, the expansion is in line with the company’s vision to deliver on-trend fashion through a robust supply chain ecosystem. Brand Studio Lifestyle owns clothing labels including Tokyo Talkies, Vishudh, Highlander, Ketch, and Locomotive. 

Nirmal Jain, CEO, Styli, Landmark Group, adds, this partnership with Brand Studio Lifestyle will help the group introduce Gen Z centric portfolio of brands to consumers in the Middle East.

12 December 2023, Mumbai

Italian luxury watch brand Panerai unveils its avant-garde boutique at Mumbai's Jio World Plaza, marking a pioneering foray into India with its latest signature design. Spanning 60 sqm, the boutique harmoniously integrates Panerai's pillars—Italianity, the sea, and technicity—providing a sensory voyage that intertwines luxury, heritage, innovation, and discovery.
The exterior flaunts Panerai's bold logo, enticing passersby into a luminescent world through expansive windows. Inside, a luminescent clock recalls the Super-Luminova fluorescence, encapsulating Panerai's DNA.

Nuances
Materials like concrete, marble-effect flooring, wood, and metal grids represent the brand's values. The layout artfully narrates Panerai's story, showcasing collections like Luminor, Luminor Due, Radiomir, and Submersible.
Notably, the boutique introduces Bar Italiano, an exclusive café experience, elevating the visitor's journey into a multi-sensory shopping escapade. More than a retail space, Panerai's boutique at Jio World Plaza embodies a commitment to excellence, heritage, and an inclusive guest experience.

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American denim and casual apparel brand Lee has onboarded Bollywood actor Sara Ali Khan as its new brand ambassador in India.

The brand has launched a new campaign with the actress titled, ‘Lee: Home of the Real Denim.’

Focusing on holistic and self-deprecating humor with stylish, fun and modern women, the campaign features Khan making an entrance in comfortable denims from Lee, makes the audience question their fashion choices and shift their preferences to Lee.

The first digital film of the campaign has been launched on Facebook, Instagram, YouTube and Google apart from OTT platform. The second digital film will be launched in January 2024.

The brand is licensed exclusively by ace turtle in India and other South Asian markets.

Two companies have shown interest in acquiring the assets of Future Lifestyle Fashions, a segment of the distressed Future Group that became bankrupt in May this year. Expressions of interest were solicited from potential buyers under the Insolvency and Bankruptcy Code.

Presently, Future Lifestyle Fashions, which owns retail properties like Central and Brand Factory, is indebted to various creditors, including 11 banks, with an outstanding amount of approximately Rs 5,700 crore. In fiscal year 2022, the company reported revenue of Rs 2,994 crore but incurred a substantial loss of over Rs 2,500 crore. However, sales showed significant increase in the first half of FY’23, reaching Rs 421 crore.

A part of Kishore Biyani's beleaguered retail empire, Future Retail has already declared bankruptcy, and Future Enterprises has sought liquidation. Another group entity, Future Consumer, carrying dues of Rs 470 crore, aims to alleviate its debt burden through asset sales and other strategic measures. In the September quarter, the company's board approved the sale of 'The Nilgiri Diary Farm' and 'Aadhaar Wholesale Trading and Distribution' for a combined sum of Rs 87 crore.

In June of this year, Shoppers Stop's value fashion format, Intune, inaugurated its seventh store in Vijayawada, Andhra Pradesh, situated within the Trendset Mall. The retail chain is set to expand further by opening approximately two dozen additional outlets by the end of the fiscal year in March 2024.

Currently, Intune has stores in Hyderabad and Mumbai, and it joins the competitive landscape where major players like Reliance Retail are venturing into the value fashion segment in India. Notable players in this sector include Tata-owned Zudio and Landmark-owned Max. Shoppers Stop, established in 1991, operates over 102 department stores across 52 cities, seven premium home concept stores known as Home Stop, and 89 specialty beauty stores featuring renowned brands. Additionally, the brand is present in 22 airports and has seven Intune stores.