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Soktas launches first exclusive cotton fabrics outlet in Bengaluru

Soktas, the renowned cotton fabrics brand under the Grasim Industries banner and a part of the Aditya Birla Group, has proudly unveiled its first exclusive brand outlet in India, situated in Jayanagar, Bengaluru. The grand opening featured the presence of Darling Krishna, a prominent figure in Kannada Cinema, and Jasvinder Kataria, COO of Domestic Textiles at Grasim Industries, Aditya Birla Group.

Soktas is set to redefine the fashion landscape with its exceptional range of premium cotton shirting fabrics, meticulously crafted from 100 percent premium cotton and natural blends. Each fabric piece is created with utmost care, using top-quality yarns, ensuring impeccable finishing and a luxurious tactile experience.

Spanning across 1000 square feet and two levels, the Jayanagar outlet is designed to provide customers with an immersive shopping experience, offering a diverse selection of fabrics to cater to various fashion preferences and bespoke tailoring needs.

Soktas' strong commitment to responsible sourcing and ethical practices is evident through its certifications, including GOTS, OEKOTEX, and ISO – 9001. With over 3000 premium multi-brand fabric outlets across India, the opening of Soktas' exclusive outlet in Jayanagar marks a significant milestone in the world of luxury fabrics, offering an array of multi-weave patterns, including premium jacquards, fil-coupe jacquards, and clip dobby fabrics, among others.

Soktas launches first exclusive cotton fabrics outlet in Bengaluru

Sai Silks secures funds from anchor investors ahead of IPO

22 September 2023, Mumbai

Ethnic apparel retailer Sai Silks (Kalamandir) has secured over Rs 360 crore in funding from anchor investors, just days ahead of the launch of its initial public offering (IPO).

The company has allocated 1.63 crore equity shares to 26 funds at a price of Rs 222 per share, which coincides with the upper end of the price range.

Nuances

Anchor investors are institutional investors who are invited to invest in an IPO at a fixed price before the shares are offered to the public. This investment helps to stabilize the price of the shares and attract other investors.

Strong showing

The fact that Sai Silks has been able to attract such a large investment from anchor investors is a good sign for the company's IPO.

It suggests that there is strong demand for the company's shares and that investors are confident in its future prospects.

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Arvind Fashion sculpts a new look with six core brands

27 September 2023, Mumbai

Sculpting a lean and mean look with a strategy focus on its six core strong brands to drive its business forward has greatly helped.

About Brand

Arvind Fashions as India’s leading apparel makers to shake off a bulk of unprofitable businesses and be back at the top of the game once more.

Recent change in strategy has added a massive Rs 1,365 crore to topline profits in FY23 while closing the year with a Rs 4,421 crore revenue and net profit of Rs 37 crore. This is in stark comparison to a loss of Rs 267 crore in 2022 where the top-line profits were just Rs 3,056 crore, despite the post-Covid buying splurges.

When the bandwagon of 27 apparel brands threatened to topple over, Arvind Fashion strategically decided to focus on its strongest six brands: US Polo Association (USPA), Arrow, Flying Machine, Tommy Hilfiger, Calvin Klein, and Sephora.

Suffering losses over Covid years, the company had discontinued unprofitable businesses such as GAP, Nautica, Elle, Izod, Hanes, New Port, and The Children’s Place over the last two years. The company also sold off its value-fashion retail chain Unlimited which included 74 value fashion retail stores across South and West India to V-Mart at an estimated Rs 150 crore in 2021 which helped recover the capital employed in the business and other assets.

In FY21, Arvind focused on cost reduction by 40 per cent which converted to an estimated Rs 540 crore across rentals, warehouse, manpower optimization as well as getting rid of loss-making ventures.

US Polo sales lead the current bandwagon

Kulin Lalbhai ,Vice-Chairman and Non-Executive Director of the company – who has been driving new initiatives in the consumer businesses – has opined the main focus would be on the flagship USPA casual wear brand, where the current turnover of around Rs 1,800 crore may even reach Rs 2,000-crore mark by the end of this fiscal year driven by a strong marketing, retail and e-commerce push.

Going great guns

Sales of USPA apparel may jumpstart India to the second spot in the global market-- where the current order of line-up is the US and Turkey followed by India for the next three to five years with this kind of all-round marketing hype.

Other strong brands such as Arrow, Flying Machine, Tommy Hilfiger and Calvin Klein are also in the Rs 500-crore revenue club while gunning for the Rs 1,000-crore top-line mark in the next two to three years. Arvind is all set to launch an online beauty store for Sephora, which is doing phenomenally well with an annual turnover is around Rs 300-400 crore and plans to do even better with its online license.

Aims at 12-15% CAGR over the next three years

As per recent earning calls, Arvind Fashions is hoping to achieve a 12-15 per cent CAGR in terms of turnover over the next three years, while using a mix of online and offline distribution channels.

However, the profit-making flagship brands of US Polo and Tommy Hilfiger, which account for nearly 80 per cent are plodding along just fine with a 2 per cent rise in overall revenue while its emerging brands Calvin Klein and Sephora have shown a 15 per cent increase in quarterly revenue.

Chip in

Even the footwear and kids-wear segments witnessed a year-on-year growth of 30 per cent and 12 per cent over the last two years respectively.

From starting as a denim-manufacturing company in the 1970s when the powerloom sector challenged big mills with the ability to make cheaper garments, Arvind has survived by evolving into a super power house keeping in the profitable businesses while cutting out the flak.

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Shoppers Stop Celebrates Durga Pujo with New Campaign and Decorated Stores

21 September 2023, Mumbai

Saajer Utsav Campaign

Shoppers Stop has unveiled its latest campaign, Saajer Utsav, which highlights Pujo's recognition as an Intangible Cultural Heritage of Humanity by UNESCO in 2021.

The campaign acknowledges the remarkable contributions made by every person to make this celebration grand, whether those creating magnificent pandals or embellishing their homes, playing the dhak, or prepping up for the yummy poojo delicacies.

Decorated Stores

Shoppers Stop stores are decked up like Pujo pandals, with traditional flowers and radiant lights immersing customers in the true essence of Pujo.

Customers can also enjoy a variety of events and entertainment in stores, as well as an array of exclusive and festive collections of trendy fashionwear, beauty, free makeovers, great deals, and more. Personal shoppers are always ready to help customers find the perfect outfit for the occasion.

On the high

Customer Care Associate and Chief of Marketing & Communication at Shoppers Stop, Shwetal Basu, shared her sentiments regarding this campaign, saying:

"This campaign holds a special place in my heart, as Pujo has always held great significance for me. We are all set to give an enhanced shopping experience to our customers.

Our stores and windows are adorned with traditional flowers and radiant lights, immersing our customers in the true essence of Pujo. With this campaign, we extend our heartfelt gratitude to all those who contribute to making this festival a visually stunning and joyous celebration."

Ready to go; Shoppers Stop is gearing up to ensure the residents look their festive best as the entire city is getting ready to celebrate the festival.

Saajer Utsav promises to be a celebration like no other, creating unforgettable memories and moments to cherish. 

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Diesel ignites Gujarat fashion scene at Palladium Mall

30 September 2023, Mumbai

Diesel, the renowned fashion and lifestyle brand, has unveiled its inaugural outlet in Gujarat, nestled within Ahmedabad's Palladium Mall.

This fashionable haven boasts an extensive assortment of denim attire, footwear, and accessories catering to all age groups, from men and women to kids.
About Brand

Globally, Diesel commands a prominent presence with a staggering 5,000 points of sale, including an impressive count of 400 mono-brand boutiques, with 37 of these located in the United States.
In India, Diesel aligns itself with Reliance Brands, making it one of the prestigious 50 international brands under their purview.

This strategic partnership signifies the brand's growing footprint in the dynamic Indian market, promising an exciting fusion of Italian style and Indian panache for fashion aficionados in Gujarat and beyond.

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Reliance Retail Expands Yousta Footprint with Two New Stores

23 September 2023, Mumbai

Reliance Retail has recently expanded its Yousta brand with the opening of two new stores this month—one in Edappal, Kerala, and the other in Bilaspur, Chhattisgarh.

The Bilaspur store is the second Yousta store in the country, while the Edappal store is the third. The first Yousta store was inaugurated on August 24 at Sahara Mall in Hyderabad.

Juggernaut

Reliance Retail plans to roll out 200-250 stores of the Yousta value retail format in the coming years, which will directly compete with Tata Group's Zudio chain. Yousta primarily targets youth and offers products in the price range of Rs 499 to Rs 999.

Yousta stores are known for their "starring now" section, where they showcase the latest fashion choices. Besides the physical stores, the Yousta collection is also available through Ajio and JioMart.

Strong wicket

Reliance Retail Limited operates under Reliance Retail Ventures Limited (RRVL), which is the holding company for all the retail companies within the Reliance Industries Limited (RIL) group.

RRVL, along with its subsidiaries and affiliates, runs an integrated omnichannel network comprising over 18,500 stores and digital commerce platforms in various categories such as grocery, consumer electronics, fashion & lifestyle, and pharma.

RRVL's New Commerce initiative has formed partnerships with over 3 million merchants. Notably, Reliance Retail Limited is the only Indian retailer included in Fortune Global 500 list of world's largest companies by revenue.

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Yousta

Shoppers Stop expands Intune in Hyderabad

21 September 2023, Mumbai

Shoppers Stop unveils a new Intune store at L&T-Next Premia Mall in Hyderabad, marking its second outlet in the city. Intune, known for stylish yet budget-friendly apparel, caters to young families with kids' fashion starting at just Rs 199.

Expanding footprint

Following its June debut in Hyderabad, Intune has expanded to six outlets across Mumbai and Hyderabad.

Shoppers Stop has ambitious plans to open around 24 Intune stores by March 2024.

This move comes as the value format sector gains momentum, with Reliance Retail, Tata-owned Zudio, and Landmark-owned Max also eyeing growth. Shoppers Stop, founded in 1991, operates extensively across India.

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ShoppersStop

Turtle's Berhampore flagship store

20 September 2023, Mumbai

Kolkata's Turtle Ltd. proudly unveils its flagship store in Berhampore, West Bengal, marking a historic moment for the brand.

About Brand

Turtle caters to men aged 22-45 in tier 1, 2, and 3 cities, offering a diverse range of menswear, from shirts and trousers to suits, socks, shoes, and accessories. You can also find their products on popular e-commerce platforms like Flipkart, Myntra, and Amazon.

Since its establishment in 1993, Turtle has evolved, with milestones including the launch of their Milan design studio in 2006 and the introduction of trousers to their lineup.

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