01 April 2022, Mumbai:

Online shopping fashion store Fabricoz is expanding business to other countries in the Middle East and Canada.

Founded by Shazia Parveen, Fabricoz sells a selection of original and designer Indian and Pakistani outfits, otherwise unavailable, especially in the US and Australia. 

ALSO READ Markets and research report: Apparels & fashion were the most popular categories for Europe’s online shopping in 2020

The store sells salwar kameez, Indian dresses, Pakistani dresses, lehenga choli, and saris.

Each dress at the online store is carefully curated to ensure they attract the consumers; attention.

Through these offerings, the store aims to provide the best online shopping experience to all its clients in the US and Australia.

RELATED NEWS Growing online shoppers will boosts e-com during upcoming festive season

The store’s presence on social media has also helped it gain access to a diverse crowd. It constantly endeavors to remain updated with the latest trends, making clients's experience worthwhile by providing new styles and designs on a weekly basis.

The store ensures to keep the latest designs ready for customization available for delivery in just two weeks.

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31 March 2022, Mumbai:

It's an all-in-one shopping experience!

Selfridges has made an effort to demonstrate their commitment to fostering a diverse and inclusive environment.

The London-based fashion business has implemented a quiet shopping hour in all of its offices and stores, much to the delight of autistic customers.

According to reports, the business has claimed that it would switch off its in-store music to provide a quieter environment for autistic customers as well as those who love silence.

ALSO READ Selfridges,UK in £4 billion Christmas,2021 Eve sale

Additionally, displays should be turned off whenever feasible to create a less overpowering and more serene environment. 

Every Wednesday from 10 a.m. to 11 a.m, Selfridges will host a Quiet Hour.

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"We are also developing quiet areas for contemplation throughout our sites where team members are encouraged to relax and take a minute for themselves," the store added, expressing delight in the choice to do something for the inclusive community.

Selfridges, sometimes known as Selfridges & Co., is a high-end department store chain in the United Kingdom owned by Selfridges Retail Limited, a Canadian company.

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CREDITS: The Industry Fashion & Apparel Resources.

28 March 2022, Mumbai:

Founded in August 2016, Madbow Ventures aims to achieve revenues of Rs 100- 120 crore in the next 18-24 months.

The company is closing the FY 21-22 with GMV of Rs 35 crore with majority of the revenue coming from its own websites.

The company also plans to enter into the offline market and is looking to diversify itself into omnichannel brands.

ALSO READ Madbow Ventures Ltd Eyes ambitious Revenue in coming two years

Keeping this in mind, it has already initiated with MBOs (Multi Brand Outlets) and done some strategic tie-ups with retail chains.

MadBow is also planning to launch its own EBOs (Exclusive Brand Outlets).

It is eyeing 100+ MBO stores and 10 EBOs by the end of 2022.

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Founded by Naveen Mahlawat in August 2016, Madbow Ventures has a few in- house brands catering to lifestyle and fashion like stalkbae.com, streetstylestalk.com, slaydeal.com, lovedamoda, and SlayXO.com.

Besides, it is also a platform that helps other acquired D2C brands and moves them to scale at a fast pace with the help of technology, marketing, and operations to make a successful business.

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01 April 2022, Mumbai:

H & M Hennes & Mauritz AB’s Annual and Sustainability Report for the financial year 2021 is available starting today on the company’s website, hmgroup.com.

H&M Group has a long history of working with sustainability and it has been an integral part of our business for many years.

ALSO READ Despite persistent retail limitations, H&M returns to pre-pandemic sales levels

Some sustainability-linked highlights from 2021 include:

80% of our materials are either recycled or sourced in a more sustainable way.

It tripled the share of recycled materials used in our garments from 5.8% to 17.9%, keeping its goal in focus to reach 30% by 2025.

It sharpened our climate goals, committing to achieving net-zero1 by 2040 and reducing our absolute emissions by 56% by 2030.

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One important step on this journey is our decision to not onboard any new suppliers or supplier factories into our supply chain if they have on-site coal boilers in their factories, working towards our long-term goal to phase out coal from our supply chain.

It launched our new goal to double sales while at the same time halving our carbon footprint by 2030.

* It launched our innovative circular design tool “Circulator”, underlining our ambition to have all our products designed for circularity by 2025. The tool aims to enable H&M Group’s own teams to create products fit for a circular economy and will in the long-term invite others to do the same.

1 Net-zero as defined by Science Based Targets initiative's Net-Zero Standard. *The baseline for the sales goal is 2021.

The H&M group’s goal is to reduce its carbon footprint in absolute figures by 56 percent by 2030 (baseline 2019).

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28 March 2022, Mumbai:

In just about six months of starting operations in India, Singapore’s e-commerce firm Shopee has decided to shut its India operations, according to three people in the know. Shopee announced to its local team in a company-wide town hall on Monday that it will exit India.

The etailer which competes with the likes of Meesho, Flipkart, and Amazon, especially at the lower-end of the market, will shutter its India operations later tonight, according to sources aware of the matter.

ALSO READ “Employee access was down since morning today (Monday) and operations might shut down from tonight..” said a person in the know.

The development is surprising considering Shopee had aggressive plans for India and was offering heavy discounting on its marketplace to take on existing biggies. Earlier this year, Shopee, housed under Sea, pulled out from France as well after its recent foray in Europe.

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“Employee access was down since morning today (Monday) and operations might shut down from tonight..” said a person in the know.

In light of global market uncertainties, we have decided to close our early-stage Shopee India initiative, the company said in a statement to ET.

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CREDITS: ET Dux Tech Finno Expert News Prepare (The news article has not been edited by DFU Publications staff).

01 April 2022, Mumbai:

Alibaba will invest $60 million in Nreal, an augmented reality (AR) start-up, in what is being billed as the Chinese e-commerce giant's first step into the metaverse. Nreal made the announcement on Wednesday.

The metaverse is a virtual parallel universe that is viewed as the next important stage in the growth of the internet.

The concept is still in its early stages, but it is thought to be a method to overcome physical limitations by multiplying 3D human interactions within the digital lining of our environment. Many digital behemoths are salivating over the possibilities presented by the establishment of a virtual "new world."

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Nreal, a Chinese maker of augmented reality glasses, revealed on Wednesday that Alibaba is investing $60 million (€53.8 million) in the company.

The funds will be used for R&D, according to the Beijing-based start-up, which also revealed that it has just raised another $200 million from other investors. Despite its modest size, Alibaba's investment is widely regarded as the company's first entry into the metaverse.

It was created by Jack Ma. Alibaba established a separate subsidiary last year as proof of its interest. Virtual reality (VR) and augmented reality (AR), in which digital elements are placed on the physical environment, are both seen as critical technologies for the metaverse's development.

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Other big brands in China's digital business, including Alibaba, do not want to be left behind in this new technology.

ByteDance (the parent company of TikTok) has invested in a number of firms in the industry, including Pico, a maker of virtual reality headsets. The Internet is a behemoth.

Tencent, on the other hand, is developing its own metaverse, leveraging its expertise as a prominent video-game company. The Baidu search engine debuted XiRang in December, heralded as one of China's first metaverse apps. 

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The Beijing government's involvement in the tech sector has boosted China's leading digital companies, although they are still finding their way in this area.

In recent months, state media have issued numerous cautions against risky investments. The metaverse, on the other hand, has the digital tech industry in the United States salivating.

Facebook has shifted its concentration to the metaverse, even rebranding its parent corporation as Meta.

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CREDITS: scmp & Fashion Network.

29 March 2022, Mumbai:

India's largest family fashion brand, Max Fashion opened its 400th store in Bengaluru on March 27, 2022.

Having opened its first store in 2006, the brand is currently present in 170-plus Indian cities and 19-plus countries globally.

Max Fashion has a strong store footprint in metros and Tier II, III, III & IV towns of India.

ALSO READ Max Fashion partners with Myntra to sell affordable apparels

The brand is also bolstering its digital presence across social platforms.

It currently has 1.7 million Facebook fans and close to 1 million Insta followers.

The brand is also present on all leading e-commerce platforms like Amazon, Flipkart, Myntra, and Ajio.

RELATED NEWS India records decent growth in retail business during February: RAI

Synonymous with a world-class shopping experience, Max Fashion offers the latest international styles in apparel, footwear, and accessories for men, women, and kids.

The brand has an overwhelming loyal customer base of over 33 million. It aims to ‘democratize fashion’ for the contemporary middle class and price-conscious families by offering them global styles at great prices. 

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26 March 2022, Mumbai:

Cocoblu Retail plans to take over the fashion, apparel, and accessories business of Amazon’s largest seller Cloudtail, which will shut down in about a month's time.

Cocoblu Retail is a newly-floated e-commerce seller incorporated last October, a wholly-owned subsidiary of Delhi-based RattanIndia Enterprises, which in January received Rs 350 crore fund infusion by the promoters.

Cocoblu Retail will handle the fashion business from April when Cloudtail will transfer its complete fashion inventory to Cocoblu.

ALSO READ Amazon India reaches ten lakh sellers

The company is also creating its team from Cloudtail such as Chandramouli Venkataraman, CEO who joined in February from Cloudtail where he was the category leader. Anjali Rattan Nashier, Chairperson, RattanIndia Enterprises said, Cocoblu will partner with large national and international brands as well as MSMEs across multiple categories to tap the e-commerce opportunity.

RELATED NEWS Amazon Fashion decides to hold "9th Edition of Wardrobe Refresh Sale Dec18-22"

The Competition Commission of India had earlier this month approved Amazon’s bid to acquire Infosys founder NR Narayana Murthy's 76 percent stake through his investment office Catamaran Ventures in Cloudtail’s parent, Prione Business Services.

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01 April 2022, Mumbai:

Marks & Spencer (M&S), Frasers Group, and Charles Tyrwhitt are all said to be interested in acquiring TM Lewin, a British online menswear shop. Crew Clothing, another British garment behemoth, is also on the hunt for the menswear company that went into administration for the second time in two years earlier this month.

All of the aforementioned fashion shops have asked Interpath administrators for further information on TM Lewin's recent financial performance.

ALSO READ TM Lewin,UK goes into administration

The retailer was severely harmed as a result of the pandemic's decline in menswear and formalwear, driving it into administration in 2020.

RELATED NEWS Bidders for the textile company Sintex have submitted amended resolution plans

Interpath Advisory's Will Wright stated that their immediate focus is to investigate options for the company, including a sale of the company and its assets.

TM Lewin was founded in 1898 and is noted for its shirts, suits, chinos, ties, and jackets, among other things.

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CREDITS: The Industry Fashion & Apparel Resources.

29 March 2022, Mumbai:

Multi-national conglomerate LuLu Group International on Monday signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to invest Rs 3,500 crore in Tamil Nadu to build two shopping malls and set up an export-oriented food processing unit.

(MoU) to this effect was signed on Monday by Pooja Kulkarni, Managing Director, and CEO of Tamil Nadu Industrial Guidance & Export Promotion Bureau, and Ashraf Ali MA, Executive Director of Lulu Group, the company said in a statement.

ALSO READ Lulu Group to invest to set up food park in Kerala

The MoU was signed in the presence of Tamil Nadu Chief Minister MK Stalin; Industry Minister Thangam Thenarasu; Yusuffali MA, Chairman of Lulu Group; other officials and dignitaries at the Abu Dhabi Chamber of Commerce HO in Abu Dhabi.

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As per the MoU, the first shopping mall will come up in Chennai by 2024, while the first hypermarket is expected to open by this year-end itself at the Laxmi Mills compound in Coimbatore.

A high-level delegation from Lulu will soon visit the state to finalise locations and related formalities.

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CREDITS: ET Deccan Herald Money Control Business Today (The news article has not been edited by DFU Publications staff).

22 March 2022, Mumbai:

The online fast-fashion retailer Boohoo Group's commitment to sustainability continues with the announcement of its latest project.

The firm has made a commitment to REEL (responsible environment enhanced livelihoods), which focuses on cotton cultivated responsibly.

It was created in collaboration with CottonConnect, a non-profit organization that has educated 2,500 farmers in Pakistan on the advantages of more sustainable cotton farming and sound business practices.

ALSO READ World Cotton Day is observed by the Indian textile sector

The programme, according to Boohoo, "creates a more transparent supply chain, allowing the company to trace the cotton used in its customers' favorite items down to the village where it was grown."

The REEL programme entails in-depth training on specially constructed demonstration plots, as well as supporting the commitment to consumers to provide more sustainable alternatives and assisting with product signposting with the 'Ready For the Future' logo.

"The company is committed to training and developing people both internally and throughout their supply chain," it stated.

RELATED ARTICLE H&M Foundation and Fotografiska Stockholm join forces to showcase planet positive solutions

"The CottonConnect cooperation educates farmers about the advantages of more sustainable production practices, which, according to the farmers, result in a greater yield and net income, allowing them to provide better education and health care to their children."

"Nothing goes to waste since the seeds are caught during the cleaning process and either replanted or utilized as a by-product to make cooking oil or fuel at a nearby facility.

RELATED ARTICLE Boohoo, an online retailer opens, clothing testing facility

It equips farmers with information about the advantages of lowering pesticide usage, a move that has resulted in honeybees returning to cotton fields, allowing farmers to make their own honey and generate more cash."

"This is just the beginning of our REEL cotton journey," Boohoo continued, "but we committed to the farmers and the programme as we work toward our long-term objective of ensuring all of our cotton is sourced more sustainably."

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CREDITS: Eco Textile & Fashion Netwrk.