01 September 2023, Mumbai
In Brief
The 5th edition of ASIATEX 2023, a B2B textile trade fair, was inaugurated by Shri Mangal Prabhat Lodha, Minister of Tourism, Govt. of Maharashtra on 31st August, 2023.
The fair will remain open up to Saturday, 2nd September, 2023 and is expected to attract over 20,000 visitors.
31 August 2023, Mumbai
Men's and women's western wear brand Beverly Hills Polo Club has opened its 21st India store in Kochi's Forum Mall. The new exclusive brand outlet is the brand's third store in Kerala. The store has a dark wood clad interior with off white walls and gold accents.
It opened with the brand's summer line of bright, sporty polo shirts, button-downs, and graphic t-shirts as well as bags and accessories.
29 August 2023, Mumbai
In Brief
Cotton textile and garment exporters expect an 8-10% rise in outbound shipments in the next few months, as the holiday season in developed markets is expected to bring relief.
However, the apparel export slump is expected to continue, with order deferments and requests for price cuts. This is due to inflation and economic slowdown in advanced economies, coupled with piled up inventory since the pandemic.
18 July 2023, Mumbai
Whilst e-commerce in India continues to be acknowledged as the fastest-growing sales platform, the trend seems to be a growth spurred on by more premium lifestyle products and healthcare whereas sales of mass-market brands are contracting.
As per research firm 1Lattice consumers both rural and urban from the lower economic stratum are not purchasing as much as they used to before and this is true for both platforms - offline and online.
Drop in mass-market brand sales
The decline in the sales of entry-level and mid-range smartphones is a case in point. Smartphone sales make up roughly one-third of the wider electronics segment in e-commerce and dipped by 20 percent in volumes between January and June 2023 on a year-on-year basis.
The drop in value was lesser than 13 percent. Experts are putting this decline down to inflation and the supposed recession that India is apparently going through and the return of the festive season sometime in the fourth quarter of 2023 might turn the decline around.
The data on e-commerce by warehousing solutions provider Unicommerce states between April and June 2023, growth was 24 percent but this data may not prove to be correct as Unicommerce did not include data on smartphones as it does not cater to warehousing for this product category.
Unicommerce says, in these three months, the biggest growth was in the healthcare and pharmaceuticals sector at 47 percent, followed by eyewear at 30 percent and fashion and accessories at 24 percent.
Premium products lead to e-commerce growth
If lower-priced products are pulling down the monetary value of India’s e-commerce, the growth of premium-priced lifestyle products is not only counterbalancing it but also increasing the sector’s total monetary value. Therefore, at this moment in time, sales of high-priced items are counterbalancing the drop in volumes of lower-end products, keeping the e-commerce sector buoyant.
Economic headwinds
Many businesses are not really happy with the current trend as they feel the rise in sales of high-priced items may not be sustainable in the long run as the world’s economic spiral may impact India quite hard soon enough.
With lower-end products declining sharply, the revival of online shopping within that large base of customers may take a long time, which may not be feasible for medium and small enterprises that have only e-commerce as their selling platform.
Drivers
As per experts, while high-value products are driving growth in online retail for now, slowing sales of low-value items is not a good sign for the industry. For example, in the fashion and accessories sector products priced below Rs 500 are selling less while those priced higher are doing well.
This has also been the case with smartphones and the trend continues. Experts are doubtful about this trend panning out over the rest of the year.
The battle between online and offline
This battle continues with online retail experiencing a drop in volumes and offline gaining traffic. More consumers are returning to their touch and feel experience, particularly for higher-priced items which belies the data about premium-priced items driving e-commerce.
ICICI Securities in the meantime published insights on how the e-commerce sector is playing out vis-à-vis the offline retail sector.
It pointed out that while naysayers are questioning the buoyancy of India’s e-commerce, the April to June performance by food and grocery delivery platform Zomato and omnichannel beauty and fashion retailer Nykaa show strong growth. Nykaa’s revenues grew by 11 percent and Zomato’s by 9.2 percent.
31 August 2023, Mumbai
Jaipur Kurti, a women's apparel manufacturer and retailer, opened its first store in Bangalore on Saturday.
The company plans to expand its physical presence to 9 cities in the next few months, including Jammu, Kota, Hubli, Faridabad, Ahmednagar, Latur, Delhi, Muzaffarnagar, and Hyderabad.
29 August 2023, Mumbai
In Brief
Gokaldas Exports Limited, a Bengaluru-headquartered garment exporter, announced on Monday that it has entered into an agreement to acquire Atraco Group, a Dubai-based manufacturer of apparel.
The equity value of the transaction is $55 million and will be funded by a mix of debt and internal accruals.
The acquisition will give Gokaldas a strong foothold in the US and European markets, where Atraco has a strong customer base. The transaction is expected to close in the October-December quarter of this fiscal year.
06 July 2023, Mumbai
Salman Khan's renowned retail fashion brand, Being Human, has recently opened its latest store in Dehradun, according to an announcement made by a company official on social media.
Expands reach
Situated in Astley Hall, Karanpur, the expansive store spans 3316 sq. ft. Shadab Khan, the business development specialist at Being Human, shared the news on LinkedIn, alerting eager customers to the new addition.
Expanding footprints
Being Human has witnessed impressive expansion, boasting over 500 retail touchpoints and 500+ multiband brand outlets (MBO) across India, along with established partnerships with major e-commerce platforms such as Amazon, Flipkart, Myntra, and Tata Cliq.
Continues philanthropic mission
With 78 operational stores nationwide, Being Human Clothing, founded in 2012, continues to support the philanthropic endeavors of 'Being Human - The Salman Khan Foundation,' dedicated to uplifting the education and healthcare initiatives for India's underserved population.
31 August 2023, Mumbai
The report highlights the growth of the Indian retail real estate market in the first half of 2023. Bengaluru, Delhi-NCR, and Ahmedabad were the top three cities for leasing activity, and the overall supply increased by 148% YoY.
28 August 2023, Mumbai
In brief
The Indian footwear sector is expected to grow by 11% in revenue and 4% in volume in FY23, driven by lower raw material costs. The operating margin is expected to expand to 9%, but remain below pre-pandemic levels.
Domestic revenue is projected to grow by 10%, while exports are expected to slow to 12%. The focus of the industry is shifting to fashion and athleisure.
21 June 2023, Mumbai
AJIO, the fashion e-tailer under Reliance Retail, celebrates its most successful edition of the 'Big Bold Sale' (BBS) to date, with tier 2 and 3 markets driving the remarkable performance. The sale attracted customers who collectively spent over 1200 million minutes shopping on the AJIO platform.
Witnesses remarkable growth
Orders spiked by 40% compared to the previous summer edition, with exceptional demand for the summer collection. Customer favorites included renowned brands like Buda Jeans Co., GAP, and Marks & Spencer, while the Sneakerhood Store witnessed significant traction, reflecting the growing sneaker culture in India. Notably, more than 600,000 sneakers were sold during the sale.
The flagship sale event sees a surge in orders
Highlighting the growing shopping sentiment in smaller cities and towns, approximately 50% of the total orders originated from tier 2 and 3 markets, with over 500,000 first-time shoppers hailing from non-metro areas.
The sale also revealed a strong demand for trendy casual wear, with customers purchasing an average of 160 T-shirts and 100 pairs of jeans every minute. Traffic on the AJIO platform surged by an impressive 50% compared to the previous summer edition.
Customer engagement
The men's and women's western wear category experienced extraordinary cumulative growth of 150% compared to the last summer edition, with leading brands such as The Indian Garage Co., Buda Jeans Co., and Vero Moda driving the surge.
Bengaluru emerged as the top shopper among metro cities, while Mysuru and Karnal claimed top spots among non-metro areas, showcasing their enthusiasm for the Big Bold Sale.
29 August 2023, Mumbai
In Brief
The global apparel market is facing a number of challenges, including a decrease in clothing exports, China's loss of market share, and the rise of regional trade models.
The economic slowdown and high inflation in leading apparel import markets have led to a decrease in clothing exports in 2022.
China, the world's largest apparel exporter, has also lost market share to other low-cost Asian apparel exporters. In addition, the focus on near-shoring has led to the regionalization of the textile and apparel trade. These challenges are forcing the apparel industry to adapt and change.
26 July 2023, Mumbai
Introducing The House of Mist, Dubai's leading Pakistani suit brand that has captivated fashion enthusiasts all over India. This article delves into the brand's extraordinary journey and the factors behind its resounding success in the Indian fashion market.
Background
Originating in vibrant Dubai, The House of Mist celebrates the opulent heritage of Pakistani fashion, merging it with contemporary designs to appeal to a broader audience. Meticulous attention to detail, quality fabrics, and impeccable craftsmanship have garnered a loyal customer base worldwide.
What drives
A driving force behind the brand's soaring success in India is its best-selling collection, "Ghazal Lawn," artfully blending traditional Pakistani designs with modern elements.
This unique fusion allows fashion-savvy Indians to make bold style statements while staying connected to their cultural roots, making it perfect for traditional events and contemporary gatherings.
Catering to diverse fashion preferences, The House of Mist offers an array of designs, from timeless classics to chic and trendy styles, suitable for vibrant weddings or formal office gatherings.
Quality & variety is a good combo
Upholding an unwavering commitment to quality, the brand uses premium Pure PIMA Lawn fabrics, adding to its reputation for reliability and excellence. Recognizing the importance of personal style, The House of Mist offers customization options for the "Ghazal" collection.
Customers can select from a wide range of colors, patterns, and embellishments, tailoring their suits to reflect their individual tastes.
Digital marketing is key
The brand's success is further amplified by its robust online presence and digital marketing strategies. Engaging Instagram, adept SEO techniques, compelling content marketing, and interactive social media posts contribute to a strong brand identity and a loyal community of supporters.
Life is never a cakewalk after all; The House of Mist's journey to becoming India's favorite Pakistani suit brand was not without challenges, but their relentless pursuit of excellence and commitment to delivering top-notch products have paid off handsomely.
10 February 2023, Mumbai
The maiden edition of Upnext India 2023, is part of a series of reverse buyer-seller meetings organized by the Apparel Export Promotion Council (AEPC) and supported by the Ministry of Commerce and Industry under the Market Access Initiative (MAI) Scheme to give an impetus to the sector given muted global demand.
The first edition of the show, which is focused on Japan, was inaugurated by Naren Goenka, Chairman AEPC, and other members of the council, in the presence of international buyers and exhibitors to make the best out of this timely initiative.
As per AEPC making a business case for the industry an event where around 84, eminent Japanese Buyers will be sourcing their requirements from in excess of some 112 Indian merchant exporters/suppliers, exhibiting an array of a diverse unique range of RMG products in the times when China plus one is global flavour.
It is interesting to note that Japan, which is the fourth largest readymade garment importer in the world, is looking to increase trade with India due to a decline in garment exports from China against hitherto very high reliance on it.
India being a complete supply chain with plentiful availability of raw materials, such as cotton, jute, silk, and wool, and its world-class spinning and weaving capacity, give it an advantage over other countries.
The Indian apparel industry is also foraying and diversifying into new areas, such as MMF garments, which provides a complete value chain solution from farm to fashion given MMF is already a big global opportunity.
