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H&M HOME arrives in India

03 February 2022, Mumbai:

Global fashion retailer H&M is all set to enter India's fast-growing home decor and furnishing market.

The Swedish label will start selling home decor, furnishings, textiles, dinnerware, bed linen and more in March on its digital store hm.com and in partnership with e-commerce platform Myntra.
 
The company will also launch an H&M HOME store-in-store at its existing outlet in New Delhi soon, it said, without giving a timeline.
 
"India is an interesting and promising market that holds substantial potential, and we are excited to be meeting its high demand for affordable interior design of great quality”, Ida Lindahl, General Manager at H&M HOME said in a statement.
Style up your home
 
H&M HOME's arrival comes at a time when IKEA is aggressively building its presence in the country.
In December, IKEA launched its first city store in Mumbai with more lined up for this year; it is aiming to reach at least 500 million people in India by 2030.

CREDITS: cnbctv18.com

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H&M HOME arrives in India

Kumar Rajagopalan, CEO, Retailers Association of India (RAI): The emphasis on ‘Ease of Doing Business 2.0.’ a big plus for retail

02 February 2022, Mumbai:

Kumar Rajagopalan, CEO, Retailers Association of India (RAI), feels the plans mentioned in Union Budget 2022 should help the retail industry though he feels the extended Emergency Credit Line Guarantee Scheme (ECLGS) for the hospitality sector could have been extended to other forms of retail as they too are high-contact businesses that have been hit by the pandemic.

“The budget 2022 seems to have laid down a broad framework towards infrastructure development, digitisation, skilling and ease of doing business. All these will definitely benefit retail in the long term.

The DESH STACK e-portal for skilling, reskilling and upskilling through online training, will benefit various industries including retail where there is a need for quick onboarding of skilled talent as it is a labour-intensive sector with high employee churn rates,” said Kumar Rajagopalan, CEO, Retailers Association of India (RAI).

Retailers Association of India (RAI)

Further elaborating in the context of retail he added, “The emphasis on ‘Ease of Doing Business 2.0.’ should bring a better policy and regulatory environment for retail; on this front, work on a national retail policy is already underway.

While the extended Emergency Credit Line Guarantee Scheme (ECLGS) for the hospitality sector is a welcome move and should help restaurants, the same could have been extended to other forms of retail as they too are high-contact businesses that have been hit by the pandemic. 

CREDITS: RETAIL4GROWTH

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Kumar Rajagopalan, CEO, Retailers Association of India (RAI): The emphasis on ‘Ease of Doing Business 2.0.’ a big plus for retail

The BHRRC's probe into factory salaries in Karnataka has prompted fast-fashion firms to respond

25 January, Mumbai: 2022

The Business & Human Rights Resource Centre has contacted 22 retailers for updates after allegations of garment workers in Karnataka being paid less than the minimum wage in factories supplying international fast-fashion brands.

As of January 25, 21 of the 22 apparel firms contacted by BHRRC have answered, with only Benetton Group failing to do so, according to BHRRC's website. Brands, on the other hand, made varied guarantees to ensure that their manufacturing employees were compensated for their unpaid salaries.

Apple's Wistron facility vandalised by employees over pay issues, company  launches probe - Pricebaba.com Daily

The Karnataka high court declared in September 2021 that all workers must be paid the minimum wage, including any arrears, independent of any other judicial procedures in India.

Several labor organizations have requested apparel firms who buy clothes from Karnataka to intervene to guarantee that their workers are paid properly, citing claims that over four lakh workers in the state are paid less than the legal minimum wage.

As a result, the workers were unable to sustain themselves through full-time employment.

Abercrombie & Fitch, Adidas, American Eagle, ASOS, C&A, Columbia Sportswear, Gap, H&M, Inditex, Levi Strauss & CoMarks & Spencer, Next, Nike, Primark, Puma, PVH, Target, Tesco, Uniqlo, VF Corporation, and Walmart were among the brands that replied to the BHRRC's poll. Although the majority of the brands polled stated that they intend to give workers back wages, much fewer claim that they have already received even partial reimbursement. 

Some retailers, such as ASOS, Next, and Marks & Spencer, responded that they had made partial payments to workers who had previously been underpaid.

All 22 brands contacted by BHRCC have rules stating that all workers in their supply chain are paid in full. Puma, Walmart, Target, and Nike all replied without outlining their plans to pay back wages to workers.

Although a handful of businesses responded that they had partially paid back pay to employees, none of them indicated that they had paid back pay in full.

 

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The BHRRC's probe into factory salaries in Karnataka has prompted fast-fashion firms to respond

Republic Day Sales 2022, Better Than 2021

 27 January 2022, Mumbai:

Apparel Sales Continue To Be Impacted

Footfalls increase in some markets, online orders jump

Ecommerce drives Republic Day sales

The 5 Biggest Retail Trends In 2021

Footfalls recover in Delhi-NCR, Mumbai, and Kolkata, but are still lower than usual.

KEY HIGHLIGHTS

  • R-Day sales increased in double digits v/s 2021 for top retailers
  • It also increased in double digits v/s 2021 for web-commerce companies
  • Visible improvements in footfalls at stores in Mumbai, Kolkata & Delhi
  • Triggers an extended period of shopping offers

In the south, where infection rates are still high, footfalls are impacted.

Higher avg discount, an extended period of sales this year.

Surge is driven by consumer electronics, grocery stores.
Credits: ET dt 27-01-2022

 

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CAIT launches a new CCI complaint against Amazon over its plan to buy More Retail

25 January, Mumbai: 2022

On January 24, the Confederation of All India Traders filed a complaint with India's Competition Commission alleging that Amazon committed fraud while seeking authorisation to acquire More Retail.

According to the Press Trust of India, "it abundantly shows Amazon's evil ambitions to dominate Indian retail enterprises in a deceptive manner to seize the physical retail trade and inventory-based e-commerce in India, causing immense harm to the traders."

Amazon (AMZN)

According to CAIT, Amazon willfully misrepresented information in order to deceive the CCI about its plans to acquire More Retails' Indian retail network. When Amazon was attempting to acquire Future Retail, CAIT claimed that it committed the same fraud.

According to the traders' association, Amazon acquired More Retail through Samara Alternate Investment Fund, which has a 51 percent ownership share in Witzig Advisory LLP, which controls More Retail Limited.

This, according to CAIT, is against Indian rules. "As with Future, Amazon has stated to CCI that (a) Amazon has solely made a financial investment in Witzig," according to CAIT's legal complaint. "(a) The rights Amazon has obtained over More Retail Limited are solely investment protection rights, and Amazon has no strategic interest in More Retail."

CAIT has used a variety of tactics to criticize Amazon's commercial operations in India, including media campaigns, strikes, rallies, boycotts, and other tactics. According to the organization, the US corporation is monopolizing India's e-commerce sector and damaging Indian enterprises.

 

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Fabindia submits draught documents for an initial public offering (IPO)

25 January, Mumbai: 2022

Fabindia, a renowned ethnicwear and lifestyle store, has submitted draft documents to the Securities and Exchange Board of India (SEBI) to conduct an initial price offer (IPO).

According to a report, the IPO is a combination of primary and secondary issuance of shares, with the OFS (offer for sale) component accounting for the bulk of the IPO to allow partial exit for numerous investors.

KEY HIGHLIGHTS

  • Fabindia is a renowned ethnicwear and lifestyle store chain
  • It has submitted draft documents to SEBI to conduct an IPO
  • IPO is a combo of primary & secondary issuance of shares, with the OFS
  • The fresh issue portion is up to Rs. 500 crore 

It was allegedly started when filing with the regulator that the fresh issue portion is up to Rs. 500 crore. The promoter group, Premji Invest, Bajaj Holdings and Investment Ltd., the Nilekani family, Kotak India Advantage Fund, and others are among the selling shareholders.

 

The funds from the IPO will be utilized for debt reduction, voluntary redemption of nonconventional debentures (NCDs) issued by the firm, and general corporate objectives, according to Moneycontrol.

Manyavar owner Vedant Fashions (supported by Kedaara Capital) recently raised Rs. 1,014 crores through an IPO, whereas Go Colors, a renowned women's bottom wear brand, recently raised Rs. 1,014 crores through an IPO.

 Fabindia in the city New Delhi

Fabindia focuses on eco-friendly and traditional Indian lifestyle items.

It has a wide range of lifestyle items in the categories of fashion and accessories, home and lifestyle, personal care, and organic food. It has a 309-store and-experience network across India, as well as online platforms and applications. 

**The statistics mentioned in the above articles have been sourced from Money Control.

CREDITS: MONEY CONTROL  

 

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