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Reliance allowed by NCLT to seek creditors’ approval for FRL proposed deal

19th October 2021, Mumbai:

NCLT grants permit to Relianceto seeking creditors and shareholders approval for proposed deal with (FRL) Future Group. By granting this important permission clearly, the NCLT sets aside the opposition/ objections raised, and the argument made by Amazon iterating them as “premature” comes as in relief.

Just to give a quick backdrop in the given case," Reliance Retail Ventures is a subsidiary of Mukesh Ambani-owned Reliance Industries (RIL). The group had proceeded with the NCLT seeking a nod to move ahead with creditors’ nod for reorganizing companies in lieu of the proposed Future-Retail Deal waiting for a lasting solution.

Reliance Retail Ventures apparently can hold meetings seeking a much-sought-after nod for the company's proposed ₹24,700 crore deal with the (FRL) Future Group was it really turned out to be a time-drawn exercise.

Noteworthy NCLT's finer points in the given case are awaited.

Umang Realtech: NCLT initiates insolvency proceedings against Umang  Realtech, Real Estate News, ET RealEstate

 

TOP 5:

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

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

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

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

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

 

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Reliance allowed by NCLT to seek creditors’ approval for FRL proposed deal

Welspun India leaps forward upgrading 'multi-level traceability solution Wel-Trak 2.0'

 
14th October 2021, Mumbai:

Welspun India where innovation is the way forward & the signature of the group is process is the outcome, launched its upgraded multi-level traceability solution Wel-Trak 2.0, this is on the back of cutting edge technology enabled by blockchain, artificial intelligence, and cloud technologies, the earnest was traceability in order to track tens of millions of finished products across its value chain.

Welspun India is one of the leading textile companies in India. It provides a wide array of high-end flooring solutions, including rugs, tiles, and carpets.


A giant leap forward in the direction of providing visibility across long global supply chains in the textile sector. Wel-Trak 2.0 is an upgrade to Wel-Trak, the company’s patented end-to-end traceability technology designed to help the multi-stakeholders viz from retailers to farmers and manufacturers to suppliers, traders, certifying bodies, and end consumers possibly all the ends– technically to track raw materials throughout the supply chain back to their origin so to say.

A Supply Chain Guide for Agrobiodiverstiy - GREEN BROWN BLUE

TOP 5:

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

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

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

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

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

 

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Welspun India leaps forward upgrading 'multi-level traceability solution Wel-Trak 2.0'

Reliance Retail is likely to be the new 'India Gap Franchisee'

13th October 2021, Mumbai:

Reliance Retail is likely to be the new 'India Gap Franchisee' of the cult US fashion brand Gap Inc.

It is to mention here that Reliance has been in advanced talks with Gap lately and as per sources shall emerge as the worthy front-runner to stitch this coveted deal reportedly ahead of 'Myntra' which apparently was also interested in this American fashion apparel brand.

Apparently Reliance Retail will be able to extract a huge concession of manufacturing 100% of all Gap products to be sold in India compared to its arrangement of 70% it had with preceding franchisee partner 'Arvind Fashions'.

Industry sources indicate that Gap was seriously scouting for an India partner ever since it snapped its ties with Arvind Fashions. Arvind Fashions tried hard to justify Gap’s enterprise interest in India, even tried closing and downsizing retailer sizes before the eventuality struck.

Reliance to pay $3.4bn for India's second-largest retailer Future Group |  Financial Times

 

TOP 5:

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

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

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

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

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

 

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Reliance Retail is likely to be the new 'India Gap Franchisee'

With cotton prices at historic high, Where is textile spinning sector (yarn mills) heading to!

 
12th October 2021, Mumbai:
Amongst other reasons fuelling Cotton prices the ongoing US-China standoff only flares it, but the spinning sector (yarn mills) continue to see demand tailwind thus this textile segment is not unduly concerned as prevailing market conditions/ dynamics are aptly favoring the sector, so far so good.

It is imperative to make a mention here that Cotton prices all across the world continue to be in elevated price mode & are hitting new highs every now & then.

So no-brainer that this World Cotton Day celebrated on October 7, 2021, was marked by optimist sentiment echoing the corresponding mood among cotton growers and traders this year.

The cotton prices have gone northwards since last many months including Sankar-6, (The domestic benchmark variety) which incidentally has witnessed a massive rally having risen more than 53 percent since early this year.

Sources maintain that cotton prices are unlikely to retrace in a hurry whether you like it or not.
How It's Made Cotton yarn - Indian Textile Industry - YouTube
 
 

TOP 5:

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

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

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

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

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

 

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With cotton prices at historic high, Where is textile spinning sector (yarn mills) heading to!

Indian apparel exports show an upward trajectory in the coming months

 14th October 2021, Mumbai:

With festivity upon us both back home & globally India’s clothing and textile exports witness increased demand, some global factors help our exporters see demand tailwind such as sanctions on China’s New River by the United States, the global China Plus One/ China credible alternate, United Kingdom and the EU, reduced production capacity, Power outage reported from China and Vietnam due and resurgence in COVID-19 cases from western & advanced nations, respectively.

Supportive factors pinching global leader China's rising coal prices China’s due to regulated supply, stringent emission standards (As China tends to usher in decarbonization glide path), and China facing unusually strong demand from the industry both from within & global market

A new wave of COVID-19 at major ports affecting Chinese exports continues to be a niggling global supply side constraint.

Furthermore, The US ban on cotton in the Xinjiang Uygur Autonomous Region is another plus favoring sustainable cotton demand from India.

Back home trade starts to see fundamental demand tailwind for India’s clothing and textile exports as we get into the global festive spirit.

Additionally, on the back of the fact, the fortunes for Exports of cotton and cotton products from India have turned the corner owing to the elevated international cotton prices v/s the prevalent prices of Indian cotton. 

All-in-1 Clothing Manufacturer & Exporter | NG Apparels

 

TOP 5:

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

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

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

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

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

 

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Indian apparel exports show an upward trajectory in the coming months

UNEP India, NIFT team up to offer sustainable fashion course module

13th October 2021, Mumbai:

United Nations Environment Programme (UNEP India) and the National Institute of Fashion Technology (NIFT) have teamed up to present a curative 'Elective course on Design Innovation for Sustainable Fashion' to students of this apex institute.

Just to put it in quick context," Up until now over 20 batches of this elective course are up & running across 17 NIFT campuses all over India".

It is imperative to state that, The textile industry unarguably is one of the largest global industries & is a large-sized global opportunity, with an estimated market size of roughly USD 3.3 trillion, amounting to some 2 per cent of the global GDP. Additionally being one of the largest job creators accounting for one in six people in the world working in this sector.

It is in furtherance to India consistently working on a host of initiatives on sustainability at different levels in the textiles sector per se. 

The joint statement unequivocally emphasises that "This profound collaborative initiative will help the (Textiles) Ministry to chart a mid-term roadmap for a sustainable textile hub in Surat for assisting sustainability and circularity in this sector".

 NIFT - Home | Facebook

 

TOP 5:

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

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

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

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

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

 

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UNEP India, NIFT team up to offer sustainable fashion course module

Page Industries,India (Jockey) aims to join billion company club by 2026

12th October 2021, Mumbai:

Page Industries under the worthy stewardship of CEO and Executive Director VS Ganesh is the exclusive licensee of Jockey and Speedo in India. The brand has aggressive target plans to be a $1 billion (Rs 7,541 crore) company by 2026 pulling all the stops expanding across channels. 

Atam Graphics - MR. V S Ganesh, Executive Director, Page... | Facebook

It also has its heart at the right place & is about to put money where its mouth is. Has business plans to what it takes to be there, making significant strides in the given direction.

Towards this end brand is ramping & revving its online business, also continues to focus on requisite expansion, and has a deeper retail footprints/ presence in India all across ensuring the goal vision of the outfit.

It is noteworthy to put the backdrop in quick perspective regard to the company's financials; the year ended March 31, 2021 'Page Industries' reported robust sales of Rs 2,833 crore. 

Jockey Logo

 

TOP 5:

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

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

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

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

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

 

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Page Industries,India (Jockey) aims to join billion company club by 2026

Cotton deficiency likely on the back of the fact elevated consumption & languishing yields

 14th October 2021, Mumbai:

The quick perspective on the existing state of affairs,"India’s average cotton yield of around 530 kg per hectare is in quick comparison to about 1,500 kg yield by many of the advanced countries viz Israel, Mexico, Turkey, Australia, Brazil, China, to drive point home".

With the country experiencing in perpetuity poor/ low cotton yields through the years, the Indian textile sector stares at cotton deficiency going forward, unequivocally articulated at a webinar held by the Cotton Association of India (CAI) recently.

There is a conspicuous need for quick measures to increase yield lest the asymmetric prices start to hurt the Indian textile economy which is highly dependent on cotton yields.

Severe stagnation in cotton yields continues to be a serious concern,” there is a clear unanimity on the understanding on the state of affairs as shortage has started to play out in the post-Covid World".

Top Cotton Producing Countries In The World - WorldAtlas 

 

TOP 5:

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

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

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

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

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

 

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Cotton deficiency likely on the back of the fact elevated consumption & languishing yields

The Southern India Mills Association (SIMA) seeks timely 'policy intervention' to stabilise cotton prices

13th October 2021, Mumbai:

The Southern India Mills Association (SIMA), 'Committed to foster the growth of the textile industry in India, urged and seriously appealed to Prime Minister Narendra Modi to present an innovative 'Cotton Procurement and Trading Scheme for Cotton Corporation of India' for bringing price stability.

SIMA unequivocally stressed the feasibility of this reducing trade pressure point doing it by providing government funding to procure 10 to 15 percent of the cotton arriving in the open market during the season, also by strategic stockpiling to attain sanguine price stability.

Furthermore, the selling of cotton can be calibrated till the end of the season while also aiming to maintain historic stock for the following season.

Most importantly the Government is also sincerely prompting & motivating the production of organic cotton to protect the soil health and environment, besides to meet the fledgling demand of domestic and international markets, more so as India continues to be a frontrunner in the space of growing organic cotton.

A rationale for government policy intervention - ppt download

 

TOP 5:

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

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

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

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

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

 

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The Southern India Mills Association (SIMA) seeks timely 'policy intervention' to stabilise cotton prices

FOSUN FASHION GROUP REBRANDS TO LANVIN GROUP

12th October 2021, Mumbai:

China's 'Fosun Fashion Group' announced on Monday its intention to now rebranding itself to 'Lanvin Group', building on its lineage, the credibility of celebrated labels, in the earnest to establish a world-class portfolio of lux brands. more importantly iconic French couture label Lanvin.

Fosun Fashion Group stable entails Italian luxury shoemaker Sergio Rossi and high-end tailor Caruso, Austrian hosiery and underwear specialist Wolford, and American womenswear brand St John Knits. Fosun Fashion Group is poised to exploit opportunities post Covid era to invest in luxury fashion brands to accelerate growth & consolidate its leadership status.

Group has its intention known in terms of how the latest funding round will be aiming at securing two new strategic investors, which shall include such as Japanese trading pioneer 'Itochu Corporation' alongside famed footwear manufacturer 'Stella International'.

Lanvin Group is set to leverage the brand aura, market expertise, retail footprint, and resources of the profound investors to give a fillip to help bolster the global supply chain, distribution capabilities in order to let corresponding synergies play out.

Fosun Fashion Group rebrands to Lanvin Group - Retail in Asia

 

TOP 5:

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

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

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

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

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

 

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FOSUN FASHION GROUP REBRANDS TO LANVIN GROUP

Classic Loafers for men from 'Language Shoes'

14th October 2021, Mumbai:

Language Shoes introduces their all-new range of Loafers for men, offering the finest quality of genuine leather indulgence to men. Loafers are a must in everyone’s wardrobe, they are a match made in heaven for all your business casual attire. Language Shoes uses the finest quality genuine leather to ensure you revel in the experience of comfortable luxury.

There are several different styles to choose from Language Shoes, you will find Loafers made of genuine leather, Nappa leather, suede and there are exotic leather options such as Eel and Ostrich skin available as well.

These Loafers are versatile and are crafted in several exciting patterns that are sure to be your go-to for any occasion. Each Loafer has a picture-perfect design and a footbed that will ensure you are as comfortable as you can be. Make a statement with a classy pair of Loafers from Language Shoes.

These premium leather Loafers for men are all handmade and available in several colour options.

Explore the collection of Loafers for men from Language Shoes at its exclusive brand outlets at Nungambakkam, Chennai, VR Mall, Chennai, Express Avenue, Chennai and Sarath City Mall, Hyderabad. and in more than 200 multi-brand outlets across the country, at Viz., Metro Shoes, Mochi, Inc.5, Centro, Atesber, Regal Shoes

Samuel Windsor Women's Shoes Online Sale, UP TO 68% OFF

 

TOP 5:

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

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

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

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

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

 

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Classic Loafers for men from 'Language Shoes'

Uttar Pradesh looks critically at apparel sector to meet export target holding an enormous potential for growth

13th October 2021, Mumbai:

The state committed to taking UP's exports to Rs 3 lakh crore within the following five years, the state government has come out with actionable points which amongst other plans has zeroed in on apparel as a critical sector presenting an enormous scope for growth.

Earlier (PWC) PricewaterhouseCoopers at the behest of Invest UP, came out with strong observations that owing to differences in tariff regulations prevailing among competing nations, India in general and UP in particular, badly loses out to competing countries such as Bangladesh, Turkey, and Cambodias of the world.

The report has proposed numerous measures & steps recommending to enhance UP's presence in an industry where apparel exports are well within its existing resources & capabilities. On the back of the fact that facilitations like serious attempts to renegotiate trade deals with the USA UK, European Union, Canada, and Australia will only act as catalysts.

It is noteworthy here to mention Chief Minister Yogi Adityanath continues to cease growth opportunity and has unequivocally proposed improvement in UP's exports, "When many foreign companies are looking at shifting base out of China/ China Plus/ Credible alternate to China in Post Covid era, asserts Hon'ble CM it is a new reality". 

Bad Idea': Twitter Reacts to Yogi Adityanath's Ban on Liquor, Meat in  Mathura

 

TOP 5:

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

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

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

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

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

 

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Uttar Pradesh looks critically at apparel sector to meet export target holding an enormous potential for growth

Future, Amazon may go for out-of-court settlement

12th October 2021, Mumbai:

The semblance is 'Future Group' and 'Amazon India' are at last poised to mull truce to giving way for a possible out-of-court settlement of a year-long bitterly fought regulatory stalemate over the proposed sale of Future Group (FRL) assets to Reliance Retail (RIL) as soon the Singapore arbitrator gives its initial rulings in this ongoing month, according to sources.

At this juncture, the ball is in The Singapore International Arbitration Centre (SIAC) court to convey whether BSE-listed Future Retail Ltd (FRL) should be a party to the arbitration?

Meanwhile, Future Group (FRL) had already asked the arbitration center to vacate its October 2020 stay. There is a great possibility of two sides beginning to look at negotiations for an attainable/ tenable out-of-court settlement of a never-ending type of time-drawn standoff.

The legal battle between Amazon, Future Group and Reliance - iPleaders

 

TOP 5:

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

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

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

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

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

 

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Future, Amazon may go for out-of-court settlement

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