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Lifestyle 24-01-2022

India’s luxury market growth leapfrogs annually: Bain & Co

Hindustan Unilever's third-quarter net profit increased

23 January 2022, Mumbai:

For the third quarter ending December 2021, Hindustan Unilever Ltd (HUL) saw a 19 percent increase in consolidated net profit to Rs 2,300 crore ($309.3 million), up from Rs 1,983 crore the previous year.

The company's sales for the quarter increased by 10% to Rs 13,196 crore, up from Rs 11,969 crore in the previous quarter. HUL's overall costs for the quarter were Rs 10,329 crore, up from Rs 10,129 crore the year before.

In a statement, HUL's chairman and managing director, Sanjiv Mehta, said of the Q3 results, "Despite market growth slowing and considerable levels of commodity inflation, the firm generated a solid and robust performance in the quarter.

I'm especially thrilled that our growth is incredibly competitive, with the largest market share increase in over a decade. Our business's performance reflects our strategic clarity, brand strength, operational competence, and dynamic financial management."

"We remain optimistic about the Indian FMCG sector's medium to long-term prospects, as well as HUL's capacity to produce steady, profitable, and responsible growth," Mehta added.

Hindustan Unilever, India's largest consumer products corporation, anticipates sustained demand in the coming fiscal year.

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Lifestyle 22-01-2022

Hindustan Unilever's third-quarter net profit increased

ABFRL to invest House of Masaba Lifestyle

17 January 2022, Mumbai:

Aditya Birla Fashion and Retail (ABFRL) will invest Rs 90 crore to acquire 51 per cent stake in House of Masaba, the company that sells apparel, non-apparel, beauty and personal care and accessories business under brand ‘Masaba’ owned by designer Masaba Gupta.

The investment will help ABFRL strengthen its popularity amongst young and digitally native consumers besides enabling it to foray in the branded beauty and personal care segment. The brand aims to achieve annual revenues of around Rs 500 crore in the next five years. In FY21, it reported revenues of Rs14 crore and aims to generate Rs 30 crore in the current fiscal.

Founded in 2009, House of Masaba will scale up operations through the digital direct to consumer (D2C) channel, straddling across the entire lifestyle offerings ranging from apparel, accessories, beauty and other lifestyle products. Wazir Advisors acted as sole advisors on the transaction.

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DAILY NEWS:

Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

Consumers will determine growth of sustainable fashion e-comm in India

Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

Nike strengthens retail presences with new store at DLF Mall of India,Noida

Lifestyle 17-01-2022

ABFRL to invest House of Masaba Lifestyle

Karan Johar named Chief Creative Advisor by Universal Sportsbiz (USPL)

13 January 2022, Mumbai:

Universal Sportsbiz (USPL) has named filmmaker Karan Johar as its first chief creative advisor. As per a Brand Equity report, USPL will consult Johar for decisions on all the fashion brands at USPL ; Wrogn, Imara, Single and Wrogn Active.

Johar will design the company’s upcoming campaigns in association with the brand’s s in-house design, marketing and creative team. He will also direct USPL's brands and their merchandise collections, their digital and editorial space as well as some of the company's branded experiences.

Through this association, USPL aims to establish its presence in the Indian fashion segment. Anjana Reddy, CEO, says,Johar’s strong sense of the pulse of consumers, proven track record as a smart businessman and foresight into trends and businesses will help us capture the Indian fashion market.

DAILY NEWS:

Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

Consumers will determine growth of sustainable fashion e-comm in India

Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

Nike strengthens retail presences with new store at DLF Mall of India,Noida

Lifestyle 13-01-2022

Karan Johar named Chief Creative Advisor by Universal Sportsbiz (USPL)

Amazon presents its maiden brick-and-mortar clothing store

22 January 2022, Mumbai:

Amazon has expanded in many ways throughout the years, and now the e-commerce giant is launching a brick-and-mortar clothing store.

The company announced Thursday that its Amazon Style fashion retail space will open later this year at The Americana at Brand shopping mall in Los Angeles.

Amazon to Open First Physical Clothing Store

The new concept will offer a selection of apparel, shoes, and accessories. The items will have QR codes providing information from sizing to customer ratings, the company said.

With the Amazon Shopping app users can also send items to a fitting room where they can use a touch screen to look through more options as well as request more sizes or styles to be delivered directly to their room, according to Amazon.

goodmorningamerica (The news article has not been edited by DFU Publications staff)

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Lifestyle 21-01-2022

Amazon presents its maiden brick-and-mortar clothing store

The Air Jordan 1 is the most popular resell shoe

15 January 2022, Mumbai:

The Jordan Brand has always been a favourite when it comes to footwear. With the rise of sneaker resales and the proliferation of trading platforms, this is even more true.

According to StockX, the popular Air Jordan 1 is still the most popular model in 2021, but the rise of partnerships has reintroduced another classic, the Jordan 2. While shoe businesses appear to be doing better than ever, it's still difficult to dethrone the Jordan Brand, which is the result of Nike and Michael Jordan's successful and decades-long cooperation.

Jordan continues to lead deals in the secondary shoe market in 2021, ahead of two other giants: Nike and Adidas, according to the resale portal StockX.

Running shoes Images, Stock Photos & Vectors | Shutterstock

Other brands, however, are pursuing these three behemoths, beginning with New Balance, which, owing to various partnerships and launches, is currently ranked fourth in the top brands for total trades for the first time in 2021. In 2018, the brand didn't even crack the top ten. Converse (5th), Reebok (6th), Vans (8th), Puma (9th), and Bape (9th) are the next brands in line (10th).

However, Crocs (7th), which has been cleaning up in the sneaker and streetwear resale market, has pipped the latter three brands to the spot. Crocs (7th) moved from being very uncool to hyper-popular in just a few years. Crocs "finished the year with the greatest average price premium of any major shoe brand, with the typical pair of Crocs trading for 98 percent above retail," according to StockX.

The Air Jordan 1 was the most popular shoe in 2021, followed by the Nike Dunk, Air Force 1, Yeezy 350, and Air Jordan 4. However, the surge of collaboration projects boosted several models as well.

This is the case with the New Balance 550, which has seen a 20-fold increase in sales, owing in part to a collaboration with Aimé Leon Dore. The Jordan 2 has also benefited from the late Virgil Abloh's Off-White label's sponsorship.

While men's shoes have traditionally been the most popular item to resell on StockX, the site has undergone major adjustments in 2021, signalling a desire to broaden the resale craze to include the entire family.

Resells of preschool-size sneakers, as well as those for smaller children, have increased by 150 percent year over year, while women's sneaker swaps climbed three times faster than men's in 2021. Over the course of 2022, both tendencies may continue to rise.

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Narendra Modi gifts KULLU's hemp footwear to Kashi Vishwanath Temple priests

12 January 2022, Mumbai:

It is at the request of Prime Minister Narendra Modi that 50 pairs of hemp footwear, prepared in Kullu, have been sent for priests of the Kashi Vishwanath Temple.

KEY HIGHLIGHTS

At the request of Modi, hemp footwear was sent to priests
This was the gesture during his visit to Mandi on December 27
Slippers called “pule” in Kullu are considered pure for wearing inside temples

PM Modi had evinced keen interest in these slippers, made of hemp fibre, during his visit to Mandi on December 27. The hemp fibre slippers called “pule” in Kullu are considered pure for wearing inside temples.

Hemp footwear gifted by PM Modi to Kashi temple priests made in Kullu

These were at display at a stall set up by a government department in the Paddal ground. Modi had desired that these be sent for priests of the Kashi Vishwanath temple as during winters, they may face difficulties in performing puja bare feet.

Kashi Vishwanath Temple: History & Cultural Significance Of Holy Site 'older Than History'

Deputy Commissioner, Kullu, Ashutosh Garg said, “On the demand of the PM, we sent 50 slippers to the PMO a few days ago. These slippers were prepared by local residents, who have expertise in preparing ropes, bags and slippers of hemp.

THE TRIBUNE (The news article has not been edited by DFU Publications staff)

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Lifestyle 12-01-2022

Narendra Modi gifts KULLU's hemp footwear to Kashi Vishwanath Temple priests

Brands laud 'Virat Kohli' for exceptional leadership

20 January 2022, Mumbai:

After he announced his retirement brands lauded Virat Kohli, Captain of Indian cricket team for being an exceptional leader. Sportswear brand Puma praised the player for making the games feel like home games.

Key highlights

Virat Kohli resigns as Test captain
Worked with Puma, Myntra, Audi India and many others brands
Amul thanked him for 'Virattacking captaincy' and called him the ‘leader of the pack'
Inspired and will continue to inspire everyone
Net current worth: $237.7 million as per Duff & Phelps report

Don't think Virat Kohli would hand it over: Nasser Hussain believes split-captaincy 'difficult' in India | Cricket News – India TV

The German sports brand had inked Rs 110 crore deal with Kohli in 2017 for eight years. Calling Kohli an exception player, Abhishek Ganguly, Managing Director, Puma India said, Kohli has left behind an outstanding legacy of captaincy.

Celebrity Brands: Virat Kohli - Captain of social media presence? - Social Samosa

He has inspired and will continue to inspire everyone who keenly follows cricket and even those who don't, he added.

Fashion e-commerce company Myntra praised Kohli for stepping down in style while Audi India expressed strong confidence in his brand value.

List of Brands Endorsed by Virat Kohli

Balbir Singh Dhillon, Head said, Kohli continues to perfectly embody the progressive and premium image of the automobile company. Kohli's apparel brand ‘Wrogn' called the sports star a 'game-changer’ while dairy company Amul dedicated its topical ad to Kohli's latest news.

Leader of the pack': Amul's tribute to Virat Kohli as he steps down as Test captain | Trending News,The Indian Express

The brand thanked him for 'Virattacking captaincy' and called him the ‘leader of the pack.’

The Celebrity Brand Valuation Report 2020 by Duff & Phelps, estimates Brand Kohli to be worth $237.7 million currently.

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Lifestyle 20-01-2022

Brands laud 'Virat Kohli' for exceptional leadership

Covid-19 Third Wave: Fashion shows & trade shows Pan-India getting postponed/ called off

15 January 2022, Mumbai:

With the spread of Omicron all over India sparing a few, a bunch of fashion to jewellery trade shows and events have decided to postpone/ call off, and even those been held are seeing a serious impact and are bearing the brunt of the restrictions imposed/ been imposed week in week out.

Many jewellery, apparel, fashion, beauty pageants fairs, both consumer and business-to-business, are scheduled for January and February 2022 in preparation/ run-up for the forthcoming hyped wedding season, when fine jewellery, bridal, gift items, apparel is generally supposed to have high demand tailwind.

However, thanks to Covid-19 super growth third-wave phase concerns & real threat, events such as the Jewellery Show of India to name a few, and many are in the process of reviewing this dynamic situation.

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The rapid expansion of Avenue Supermarts' DMart has been met with scepticism by analysts

11 January 2022, Mumbai:

DMart, a subsidiary of Avenue Supermarts, announced a 20 percent increase in sales and profit in the fiscal quarter that ended in December 2021, however several experts have criticised the company's performance.

According to the Economic Times, firms had near-normal operating circumstances and significant commodity inflation in the most recent quarter, prompting some experts to declare DMart's recent growth insufficient for its stock market value. DMart's gross margin remained flat, while the company's profits before interest, taxes, depreciation, and amortisation grew primarily as a result of its operational leverage.

"Consensus continues to assume that DMart is a linear and secular growth story, but we disagree," Manoj Menon and his team at ICICI Securities said in a note, according to ET Bureau.

Dmart sells a variety of low-cost fast-moving consumer products, such as clothing and accessories. However, the clothes and general items divisions of the company have done significantly worse than the necessities and food segments. According to the analysts, the clothing segment's poor performance has had a detrimental impact on the company's total revenue and profit margins. Increasing shop constraints as a result of Covid-19 are projected to intensify the trend of 'necessary' groceries taking precedence over clothing.

"In India, subtleties are more important," Menon remarked. "We disagree with the over-enthusiasm of the consensus. Keep an eye out for DMart being disrupted, same to how India bypassed landline penetration and went straight to wireless."

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Lifestyle 12-01-2022

The rapid expansion of Avenue Supermarts' DMart has been met with scepticism by analysts

Steve Madden opens new store in Noida (Delhi-NCR)

19 January 2022, Mumbai:

Accessories brand Steve Madden has opened a new store to sell its footwear and accessories. The store has been opened in the DLF Mall of India in Noida, as per a Fashion Network report. It houses the brand’s winter collection featuring bright hues and eclectic embellishments. Inspired by the spirit of New York, the store houses a wide array of the brand’s handbags and shoes with both casual and formal options. The brand retails from a number of stores in malls and on high-streets India. It is also present in malls including DLF Promenade, Orion Mall, Palladium, and Phoenix Marketcity, among others.

Described as ‘India’s largest mall, the DLF Mall house of India houses a wide array of Indian and international fashion and lifestyle brands including Clarks, Aldo, Hideson and Skechers, etc. Steve Madden also runs a dedicated e-commerce store for the Indian market. The brand is present in 80 countries worldwide, according to its India website, and the brand first entered the Indian market with Reliance Brands in 2011.

DAILY NEWS:

Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

Consumers will determine growth of sustainable fashion e-comm in India

Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

Nike strengthens retail presences with new store at DLF Mall of India,Noida

Lifestyle 19-01-2022

Steve Madden opens new store in Noida (Delhi-NCR)

Eight Khadi India designers to showcase at Expo2020 Dubai

14 January 2022, Mumbai:

Eight designers of Khadi India, the handloom brand of The Khadi and Village Industries Commission will showcase their innovative Khadi designs at the Expo2020 in Dubai.

As per a Fashion Network report, Khadi India will hold a ‘Sustainable Khadi Exposition’ at Dubai’s Expo2020The initiative is part of KVIC’s ‘Khadi Goes Global’ campaign which it is holding in partnership with the FDCI.

As part of the exhibition, designer UjjawalDubey will present a selection of androgynous silhouettes for men and women made to showcase the fluidity of Khadi textiles. Dubey’s brand, Antar-Agni, is known for its gender-fluid and natural aesthetic and mix of modern and traditional styles.

Designer Ashish SatyavratSahi will present looks by his brand Khadiwala including dresses in neutral tones to highlight the intricacies of the handloom textiles from which the garments are made. CharuParashar will present a more colourful take on Khadi with womenswear featuring bold floral designs and vibrant hues.

Other designers who will take part in the showcase comprise Rina Dhaka, ShrutiSancheti, SwattiKpoor, SushantAbrol (Countrymade), and Rahul Singh.

Expo2020 launched in Dubai on October 1, 2021 after being postponed from 2020 due to the pandemic. The Indian Pavilion at the global fair is promoting a wide array of Indian businesses to international investors from heavy industries to tourism.

DAILY NEWS:

Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

Consumers will determine growth of sustainable fashion e-comm in India

Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

Nike strengthens retail presences with new store at DLF Mall of India,Noida

Lifestyle 14-01-2022

Eight Khadi India designers to showcase at Expo2020 Dubai

USITC INSTITUTES SECTION 337 INVESTIGATION OF CERTAIN KNITTED FOOTWEAR

10 January 2022, Mumbai:

The U.S. International Trade Commission (USITC) has voted to institute an investigation of certain knitted footwear. The products at issue in the investigation are described in the Commission’s notice of investigation.

The investigation is based on a complaint filed by Nike, Inc., of Beaverton, OR, on December 8, 2021. The complaint alleges violations of section 337 of the Tariff Act of 1930 in the importation into the United States and sale of certain knitted footwear that infringe patents asserted by the complainant.

The complainant requests that the USITC issue a limited exclusion order and cease and desist orders.

The USITC has identified the following as the respondents to this investigation:

adidas AG, of Herzogenaurach, Germany; Adidas North America, Inc., of Portland, OR; and Adidas America, Inc., of Portland, OR.

By instituting this investigation (337-TA-1289), the USITC has not yet made any decision on the merits of the case. The USITC’s Chief Administrative Law Judge will assign the case to one of the USITC’s administrative law judges (ALJ), who will schedule and hold an evidentiary hearing.

The ALJ will make an initial determination as to whether there is a violation of section 337; that initial determination is subject to review by the Commission.

The USITC will make a final determination in the investigation at the earliest practicable time. Within 45 days after the institution of the investigation, the USITC will set a target date for completing the investigation.

USITC remedial orders in section 337 cases are effective when issued and become final 60 days after issuance unless disapproved for policy reasons by the U.S. Trade Representative within that 60-day period.

USITC (The news article has not been edited by DFU Publications staff)

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned.