Inside Fashion Vol.22 No.1 by InsideFashion

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24 CONTENT IF EXCLUSIVE Regular 27

Fashionscape

Fashion & Lifestyle

Brand Launches

Brand Watch

Collections

Brand Retail

IF Exclusive

Store Openings

Business News

with activity as

IF Insight

The arrival of D2C brands is changing India’s retail scenario

Business News

Brands clamour as rising inputs costs compel apparel price hike

Industry Byte

Cover Story - Monte Carlo

Feature Stories 48 Apparel retail buzzes brands expand stores

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FASHIONSCAPE

Adidas launches Ivytopia Adidas has launched a collection in collaboration with Beyoncé’s Ivy Park, called Ivytopia, the new drop includes fashion styles, performance gear, footwear, and accessories available in inclusive and genderneutral sizing. Moreover, the drop includes children’s wear. In particular, the collection features swimwear and modern silhouettes created with everybody in mind. Design details include floral-inspired prints, bold crystal prints, futuristic details and shapes to evoke another worldly experience. It also includes textiles like printed power mesh, metallic spandex, stretch twills, and French terry that speak to Ivy Park’s love of athleticism and fashion, amplified through lines and cuts that are abstract yet flattering. Accessories for the collection mirror the apparel’s inspiration and include a five-panel wide brim hat, a reversible IVP bucket hat, as well as a tote that is oversized and multi-functional with removable exterior pouch pockets. Also included is a three-pack assortment of socks in line with the collection’s color palette. Rounding out the collection is footwear styles including the iconic Stan Smith, which has been re-worked with a bold and slightly futuristic look. Additionally, there are both a new iteration of the Savage sneaker and the Ultra Boost in engineered knit which provides a light touch through design and feel.

Puma offers athletes at World Athletics Championships new Nitro tech Sportswear company Puma will outfit 12 federations and several medal contenders at the World Athletics Championships in Eugene, Oregon, USA, and provide latest Nitro technology, so they can perform their best. Ever since its foundation in 1948, Puma’s philosophy has been to provide the fastest athletes the fastest products, an attitude summarized in the brand’s motto Forever Faster. In Eugene, individual Puma athletes, performing in Puma’s footwear technology, include 400m hurdles world-record holder Karsten Warholm, pole vault world-record holder Armand “Mondo” Duplantis, triple Olympic medalist Andre De Grasse, Ukrainian indoor high-jump world champion Yaroslava Mahuchikh, triple jumpers Patricia Marmona and Will Claye and many more. The athletics federations of Australia, the Bahamas, Barbados, Brazil, the British Virgin Islands, Cuba, Jamaica, Norway, Portugal, South Africa, Switzerland and Trinidad and Tobago will all perform in Puma apparel. Track and field is sports and athleticism in its purest form and embedded in the very core of Puma. There are also improved versions of the goldmedal-winning Puma evoSpeed Nitro Elite and several new products for long-distance runners. The evoSpeed Distance Nitro Elite+ 2 spike uses Puma’s proprietary Nitro foam and a Pwrplate for exceptional energy return and is aimed at events ranging from 800m to 10,000m. The Deviate Nitro Elite 2 is even lighter than its predecessors. The futuristic and aggressively designed Fast-R Nitro Elite uses Nitro Elite technology and a Pwrplate to support an efficient run.

Aditya Birla Fashion & Retail India (ABFRL) bags seven awards Aditya Birla Fashion & Retail India (ABFRL) bagged seven awards at the VM&RD Awards held as a part of the 13th edition of In-store Asia at the Jio world Convention Centre (JWCC) on June 30, 2022. The company also won three gold awards for categories: Best Shop Fitting, Best Window Display -Festivals and EOSS, and Best Department stores. It was also nominated in the maximum number of categories and bagged a Gold Award for Best In-Store VMM for its Lucknow Crown store. Gold awards were also bagged by Four Dimensions Retail Design for Best Retail Graphics for the AIS Window Experience Store, Catalyst Design Retail and Online Branding Solutions LLP for the Best VM Installation for the adidas store at Jio World Drive, Arquite for the Best Lighting for the Ez Homz Experience Centre and Skechers India for the Best Store Front Signage for its flagship store Skechers Flagship N1.1. This year, The Grid Architect was awarded Gold Award for being the store with Best Green Initiative, while Soultree was the 1st runner up followed by Future Research Design Company (FRDC) was 2nd runnerup. In all, awards were given in 24 categories, of which 15 were store design categories and 10 were special categories.

28 FASHION & LIFESTYLE Titan Eyeplus to increase store count to 1,000 by FY23-end

itan Company’s eyewear division Titan Eyeplus plans to take its store count to over 1,000 by FY23-end. As per a Fashion Network report, the eyewear brand opened 178 new stores across India over the past year. It currently holds 760 stores across the country. Besides expanding its brick-and-mortar presence across India, Titan Eyeplus is also focusing on product innovation and launching more comprehensive eye-care solutions. The brand’s recent launches include audio sunglasses, anti-virus glasses and lenses, and value glasses, among others. The brand has shifted its identity to centre around expertise and empathy and define itself as an eye-care expert. Titan also officially renamed its eyewear division to eye-care during the pandemic to respond to the growing concerns for health and wellbeing. In the 2021 and 2022 financial years, Titan Eyeplus reported a profit and the 2022 financial year was the best financial year for the business to date, despite the disruptions of the pandemic. In the 2021 financial year, Titan Eyeplus’ profit totaled `8 crore, which surged to `38 crore in the 2022 financial year. The business plans to make 2023 equally profitable.

The company currently has over 1,600 retail outlets including own stores (1,266) and over 300 franchises. Besides setting up its own stores across the country, the brand plans to increase the share of franchise network to over 500 in the next two-to-three years. Currently present across 1,000 towns in India, Bata India aims to expand to newer towns and cities even while it continues to strengthen its footprint in existing markets. The company’s continued focus on key thrust areas of franchise and MBO (multi-brand outlets) expansion, consumer relevant communication, portfolio casualization and digital footprint expansion has resulted in increase in footfalls across retail outlets, along with significant growth driven via e-commerce platforms and expansion in Tier III to Tier V towns.

Zouk enters footwear segment with cruelty-free range Expanding its product range vegan accessories brand Zouk has entered the footwear segment with the launch of an Indiainspired cruelty-free footwear range. The brand has also rebranded itself to strengthen its customer base and strike a chord with its target audience.

Ikea to open first store in a mall at Ghatkopar in Mumbai Swedish furniture, homeware, and home textile business Ikea plans to open its first store inside a mall at the R City Mall in Ghatkopar, Mumbai. The store is scheduled to open its doors to the public in the next few months Along with boosting Ikea’s brick-and-mortar presence in Mumbai, the store will also enable Ikea to increase its omni-channel capabilities in Maharashtra. When the new store opens, shoppers in the state will be able to order over 5,000 products online and browse over 2,000 products in-store. Earlier in June, Ikea announced a `3,000 crore investment plan for the state of Karnataka over the coming few years. The business plans to focus on Bangalore, Hyderabad, Mumbai, and Delhi-NCR in the first phase of its store roll out in India. Ikea’s most recent store opening was in Bengaluru on June 22.

Bata India to expand retail footprint in India Footwear major Bata India plans to expand its retail footprint in India by adopting the franchise model and launching new products across categories. Bouncing back to the pre-pandemic levels of sales, Bata India clocked 11 per cent growth in sales during the current fiscal (YTD) up to May, says Vidhya Srinivasan, Chief Financial Officer, Bata India. Bata India registered nearly 35 per cent growth in revenues at `2,300 crore during the year ended March 31, 2022, backed by improved consumer sentiments.

Founded by Disha Singh and Pradeep Krishna Kumar, Zouk retails a range of handbags, laptop bags, tote bags, and pouches claiming to have a customer base of over 2,00,000 in this segment. The brand works with local artisans across India.

Relaxo Footwears expands store count India’s largest footwear manufacturer Relaxo opened its 60th exclusive brand outlet in Delhi. A one-for-all-destination, the new store offers footwear for the entire family. It houses some of the most popular brands including Relaxo, Sparx, Bahamas, Flite, MaryJane, Boston, and KidsFun. Nitin Dua, Executive Director, Relaxo Footwears, says the new store will offer the latest designs of the season well before they are launched in the market. This will enable customers to preview the range and select the best footwear for themselves, he adds.

30 BRAND LAUNCHES Myntra launches high fashion labels

s a part of its initiative to scale its assortment of global fashion by curating a special collection of chic and trendy fashion and lifestyle labels, Myntra has launched five international high fashion labels. The newly launched labels, NA-KD, Miss Poem, OXXO, I Saw It First and LC Waikiki, will be showcased in an independent brand store on Myntra to feature the fresh assortment of styles from the high-fashion labels. One of the labels, the design-oriented Miss Poem from Turkey, which was established in 1994, boasts of a ‘young vision’ for fashion and features products for the quirky and fashionable Gen Z audience, at an ASP of `1,000. With over 120 stores globally, the label operates across stylish dresses, printed tops, and quirky T-shirts on Myntra. Another popular Turkish label, OXXO, creates unique and sustainable fashion for girls and women in the age groups of 16 to 45 at an ASP of `2,000. The categories on Myntra from this label feature basic tops, casual bottoms, well-fitted denims, and flowy dresses, making it a favorite among shoppers seeking fresh and trendy fashion. The Manchester-based label, I Saw It First, offers edgy high-fashion looks that include body con dresses, printed cropped tops, and flowy skirts. The label caters to a wide audience of women, offering products across sizes, ages, and identities while drawing its inspiration from the ramps of Paris to the beach clubs of Ibiza. Offering a bevy of styles, the label adds to the distinct collection of fashion available on the platform. The Swedish high fashion label, NA-KD, is another exemplary addition to the collection of international brands on Myntra, with its motto of re-inventing sustainable fashion for next-gen shoppers, being a favorite among conscious consumers. LC Waikiki, originating from Turkey and available in 50 countries, presently caters to kids and is available at an ASP of `1200. Established in 1988, the label is a recognized leader in the ready-to-wear industry, with over 1000 stores present globally. The addition of the five labels to Myntra’s large portfolio of global brands,expands the size and variety of the platform’s offering, driving deeper consumer engagement and higher traffic.

EK expands into ethnic wear

and is also available on the lock screen platform. Consumers can shop live with creators and branded online stores across multiple categories. The move also signals the popularity of cocreated brands that have seen top celebrities associate with retailers to design and retail products online. In the past celebrities such as HrithikRoshan and Virat Kohli have launched or lent their names to such private labels.

FabIndia launches FabNu Indian TV producer Ektaa R. Kapoor and entertainment commerce platform Roposo plan to expand their co-created brand EK into the women’s ethnic wear category. Currently, Kapoor sells home décor, furnishings, and wellness accessories range under the EK brand name on Roposo. The brand was first launched in November 2021. EK’s apparel is sold on the Roposo platform and on lock screen platform Glance which have a combined user base of almost 200 million. The brand’s products are also available on its direct-to-consumer platform along with other e-commerce platforms. The range includes cotton-based kurtas, lowers and dupattas. Roposo is a creator-driven live entertainment commerce platform, a business unit of Glance

After launching the brand in India in August last year, FabIndia launched its youth-oriented womenswear brand FabNu in the Malaysian market with a dedicated concession at its brick-and-mortar store in Kuala Lumpur’s City Centre. As per a Fashion Network report, the brand is designed to appeal to a younger customer base and has a more fusion style aesthetic, mixing FabIndia’s signature traditional prints with casual, western style silhouettes. The line features dresses, shorts, lounge wear, separates, and sets with a bright colour palette. FabNu’s maiden spring/ summer collection, following its launch collection for autumn/ winter last year, mixes bohemian and street style inspirations to pair peasant blouses with full skirts and baggy trousers with crop tops. The brand shows FabIndia’s

increased focus on younger shoppers as having established a strong consumer base in older generations. FabIndia aims to expand its customer demographic to include millennials and Gen Z shoppers who have increasing disposable income and interest in branded fashion in both India and Malaysia.

Mensa Brands expands international markets

into

Founded by Ananth Narayanan, Former CEO, Myntra, e-commerce roll-up platform Mensa Brands is expanding into international markets including the US, Middle East and Canada, after hitting a net revenue run rate of `1,500 crore ($200 million) in its first year of operations. According to Narayanan, over 30 per cent of the company’s revenue now comes from markets outside India, and that 50 per cent of its brand portfolio is available outside the country. Mensa operates in the US, UAE, Canada, UK, Germany and Singapore through marketplaces and its own platform. The company aims to double its net revenue run rate to `3,000 crore over the next year, and will hire 700 more people to double its team size to 1,400 as it eyes further expansion in India and abroad. Mensa already operates 20 online brands and will look to add another 20 more. The company has also turned Ebitda (earnings before interest, tax and depreciation)-positive excluding the one-time deal expense to acquire its brands.

32 BRAND WATCH Reliance Brands’ consumers move toward affordable luxury

ore and more consumers of Reliance Brands are moving towards affordable luxury, making firsttime luxury purchases post pandemic, says a Fashion Network report. This trend for affordable luxury purchases concurs with Reliance Brands’ move to acquire stakes in luxury fashion houses and launch more affordable lines. The business has acquired stakes in Manish Malhotra and Abu Jani Sandeep Khosla. Though inflation has risen swiftly this year due to global challenges, Reliance Brands has not been affected, says Darshana Mehta, President and CEO. There has been a stronger traction across company’s portfolio brands in the last six weeks, adds Mehta. It is one of the strongest demand patterns consistent with not just long weekends but across regular weekends and normal weekdays, which indicate the strength of the demand patterns, adds Mehta. Demand in few categories like luxury has surpassed prepandemic 2019 figures. However, demand in others like footwear and formal men’s tailored clothing continues to be slow, adds Mehta.

Group, says the studio serves as a one-stop customer experience center for man-made cellulose fibers from sourcing support, technical assistance, product innovations and marketing solutions. Located on the Canal Road, the studio displays a collection of over 2,500 Viscose, Liva Eco, Liva Reviva Birla Modal, Excel and Spun Shade based fabric innovations from over 150 LAPF partners. The fabrics would be available in a wide range including woven, knitted, greige and finished fabrics. The studio will provide all details including technical specifications to access the products on display.

H&M launches program for waste pickers

Kewal Kiran onboards Rohit Shetty Kewal Kiran Clothing has onboarded Rohit Shetty as the new brand ambassador for the clothing brand LawmanPg3. The brand envisions creating unique fashionable clothing for men to make the brand relatable and aspirational. Shetty is known to be an icon for the masses and he is the best fit for the brand’s tagline ‘Be The Star’. Shetty will be representing the new collection for the year. He says LawmanPg3’s vision to create a brand, especially for the masses, is something that he resonates with as a filmmaker. Launched in 1998, Lawman Pg3 is targeted to the customers between the age group of 18 to 28 years, mostly corporate executives. It is positioned as a brand for young executives.

the brand’s latest collections, with features like quick login, efficient check-out, and secure digital payments for a faster, seamless, and more convenient shopping experience. Customers can virtually try-on products through sophisticated 3D animations. It will also include a product drop calendar for users to set reminders ahead of key product launches. The app will enable users to connect with Puma designers to customize and style products. For many interactive elements of the app, Puma uses augmented reality technology from Snap Inc. The app is available on both Android and iOS platforms for Indian users and comes with convenient mobile OTP login and secure digital payments, including UPI.

Liva opens studio in Surat To cater to the growing demand from the textile and clothing industry, Birla Cellulose’s premier fashion ingredient brand Liva has opened a new state-of-the-art Liva Accredited Partner Forum (LAPF) Studio in Surat. Rajnikant Sabnavis, Chief Marketing Officer, Aditya Birla

Virat Kohli promotes Puma app India’s number one sports brand Puma has roped in cricketer Virat Kohli to promote its new mobile shopping app in India. The app will offer

Global retailer H&M has launched a new program where all products made by the H&M Group in India including shirts, blouses, skirts, etc will have buttons crafted from post-consumer recycled plastic collected by waste pickers in Bengaluru. A part of H&M Foundation’s fouryear initiative, Saamuhika Shakti is being executed in partnership with social enterprises like Hasiru Dala Innovations and WaterAid India, etc. According to Maria Bystedt, Strategy Lead, H&M Foundation, the Saamuhika Shakti has benefitted 20,000 waste pickers and 2.6 million people from the general population of Bengaluru. Shekar Prabhakar, Co-founder & CEO, Hasiru Dala Innovations, says the buttons are traceable down to the source of PET waste, names of the workers, social security, salaries and working conditions at the collection center. The program will ensure fair price to waste pickers, immediate payment through bank transfers and assured offtake. In the long term, it will integrate waste pickers and informal waste workers in the circular economy supply chain by providing them with an access to end-user markets.

Little Clocks promotes sustainable living India’s first subscription-based children’s clothing rental service, Little Clocks helps people live a more sustainable life by spinning their child’s closets. The brand’s founder says Little Clocks provides parents with the option to get their child’s clothes in desired sizes whenever required. It allows them to dispose of garments easily without feeling guilty about throwing them away every few months. The service was born out of the need for creating India’s first children’s clothing rental service for people looking for an ecofriendly choice when beginning a family. The

BRAND WATCH

Pepe Jeans deploys Salesforce Commerce Cloud

o strengthen its direct-to-consumer strategies and build a truly customer-centric business, Pepe Jeans has deployed Salesforce Commerce Cloud. The Salesforce Commerce Cloud solution helps transform shopping experiences across all digital channels. It would provide Pepe a collaborative view of the customers’ journey and enable it to ensure a more personalized customer experience. Additionally, with Salesforce, the Pepe Jeans team can integrate its website with its social channels to expand the brand’s reach and build a robust online community. In future, the company aims to strengthen customer engagement by deploying the Salesforce Marketing Cloud with data-driven digital marketing. Manish Kapoor, Managing Director & CEO, Pepe Jeans India, says Pepe Jeans views digitization as a way to achieve a single, unified view of the customers’ demands across online and offline channels. Salesforce enables the brand to identify customers’ requirements and provide them with a unified shopping experience. Arun Kumar, SVP & MD (Sales & Distribution), Salesforce India, says the collaboration with Pepe aims at building deeper customer connections with the power of technology.

brand offers pre-owned clothes in excellent condition, with virtually no flaws and in pristine condition in comparison to their original stage of manufacture. Little Clocks aims to assist parents keep track of the costs and time spent on baby clothing. The service is a strong advocator of circularity and aims at offering a solution to extend each garment’s life cycle without causing any harm to the environment.

Yami Gautam is brand ambassador for Dollar Missy Yami Gautam is the new brand ambassador for leggings brand Dollar Missy by Dollar Industries. She will endorse the brand in a campaign across platforms. Vinod Kumar Gupta, Managing Director, Dollar Industries, says Dollar has gone beyond the repertoire of basic everyday necessities like camisoles, panties, and bras to expand its product horizon and include fashionable leggings, loungewear, and casuals to complement the wardrobe of today’s woman. Through the new campaign, the brand aims to focus on stylish and colorful range of legwear specially churidar, ankle lengths, kurti pants and capris that complement the finer tastes of India’s New Age women. Kolkatabased knitwear manufacturer Dollar Industries

is one of the leading players in the innerwear and athleisure segment with a strong presence across India.

Barcelona appoints Sonu Sood as brand ambassador India’s leading men’s wear fashion brand Barcelona has appointed Bollywood actor Sonu Sood as its new style icon and brand ambassador. As per an Indian Saga report, the actor will endorse the brand’s range of products across media platforms for its campaign. The collaboration aims at strengthening the brand’s relations with customers in a meaningful way and giving consumers a greater sense of objective on strength, trust and dependability. Barcelona currently is present in 82 exclusive

brand outlets spread across 50 plus cities and towns in India. The brand sells menswear products including shirts, T-shirts, denims, suits, blazers, trunks, vests, boxers, tracks, etc. The brand strongly believes in providing customers with high-end fashion products at affordable and economical rates.

Asics signs on Prasidh Krishna Japanese sports performance brand Asics has signed cricketer Prasidh Krishna to promote sports in the country. The partnership will enable Asics to create awareness about the power of sports to transform individuals and uplift their bodies and mind, says Rajat Khurana, Managing Director, Asics India and South Asia. Through this collaboration, Asics aims to build a stronger sporting spirit and ambition with young and emerging athletes, he adds. Krishna says the brand’s vision, philosophy and legacy that it has built in the sport of cricket is admirable and that the alliance can create a meaningful impact in the minds and lives of aspiring athletes. Asics India has around 65 exclusive retail brand outlets operated by the franchisees in different parts of the country and sells online through e-commerce platforms.

Women’s clothing launches website

brand

Kappde

Aiming to be the largest online women’s brand in coming years, women’s clothing brand Kappde has launched its website. Catering to women across ages, the website offers latest collections from the brand ranging from casuals to smart casuals and party formals. The collections are priced affordably with all fabrics and designs made in India. Muskan Arora Singh, the founder, says the brand provides high-quality fabrics and clothes that boost the confidence of Indian women. The fabrics used by the brand are mostly cotton fabrics that are a favorite amongst them. Launched online in June 2022, Kapde currently sells through its own website and social media platforms.

34 COLLECTIONS Biba launches new kurta collection

omen’s ethnic wear and lifestyle brand Biba has launched a new kurta collection in partnership with textiles brand Liva. Biba’s partnership with the Aditya Birla Group textile brand offers classic ethnic wear pieces in light, fluid, and ecofriendly textiles. The collection includes relaxed fit kurtas, floral and geometrical patterns, and a diverse color scheme for a smooth transition from day to night. It also features chevron print, mirror work details, and more fusion style pieces. Liva Fluid Fashion manufactures its textiles using Birla Cellulose fibers which come from renewable and natural raw materials. The textiles are designed to be fully biodegradable and made in a sustainable way. This is Biba’s second collaboration with Liva following on from a line it launched last summer. Biba also recently launched its ‘End of Season Sale’ which it describes as India’s biggest sale. The brand is offering up to 50 per cent off designs from its women’s and girls’ collections on its dedicated e-commerce store.

Oxemberg launches new collection of casual shirts

Jisora launches maiden plus-size collection

A renowned name in the Indian fashion industry, Oxemberg has launched a new exquisite collection of casual shirts in Ranchi. As per a Textile Value Chain report, the range has been designed with a festive look and in a wide range of styles. The collection was launched with a special trade show. EP Daniell, Senior Vice President, Siyaram Silk Mills, says the collection caters to consumers who believe in style, elegance and comfort. Oxemberg believes clothing is an expression of an individual’s personality. For years, the brand has been known for its expression of an individual’s personality with products crafted for comfort and value. The launch of this new range is a reflection of this belief and the company aims to keep bringing in the latest trend from the fashion industry for its customers. All the products are crafted for comfort at genuine value. Upgrade your wardrobe with a wide range of the latest collection of men’s apparel.

Fashion brand Jisora has launched its first plus-size fashion collection that offers clothes in sizes ranging from XL to 6 XL. The collection aims to address the clothing needs of oversized women often overlooked by fashion brands. The affordable pricing coupled with the latest designs of the collection will help boost its sales, as per a Fashion Network report. Khusboo Sethi, Co-founder, Jisora, says plus-size fashion enables curvier women to wear whatever they want and yet feel good about themselves. Tushar Sethi, co-founder, adds the plus market is slowly growing in India. The new collection from Jisora offers consumers an effortless combination of style and comfort. The collection will be available at its stores across India and leading online platforms.

JSW Sports launches a new activewear range Foraying in the activewear segment, JSW Sports, a part of the JSW Group, has launched a new range under the JSW Inspire brand. Co-owner of the Indian Premier League Delhi Capitals, apart from the kabaddi team Haryana Steelers and football club Bengaluru Ifc, JSW Sports is engaged in building India’s sports ecosystem. The brad aims to deliver high-quality

activewear, says Parth Jindal, Managing Director, JSW Cement and JSW Paints. Estimated at `466.9 billion in 2018, India’s activewear market is expected to reach `997.8 billion by 2024. From 2019-24, the market is expected to grow at a CAGR of approximately 13.59 per cent. The market growth got a boost from the pandemic which pushed up demand for clothing from brands such as Puma, Adidas and Reebok. JSW Inspire will initially focus on online sales of its apparel range. The sports arm of the group, JSW Sports, will encourage the development of the sporting culture in India by maximizing the potential of Indian sports and athletics.

Good Earth launches new collection in collaboration with Kishmish Fashion and lifestyle brand Good Earth has launched its latest collection at its Khan Market store in New Delhi in collaboration with women’s wear brand Kishmish. The collective between Good Earth and Kishmish boasts of a color palette of navy blue, red, white, and neutral. Garments in the collection have been designed to be mixed and matched to create a minimalistic and sustainable wardrobe. The slow fashion range of handloom textile dresses has been created in collaboration with artisans across India. The collection uses fabrics scraps from past collections to reduce textile waste and create unique garments. It uses offcuts to create patchwork trims and cuffs for its Potla Potli project. Launched by Rekha Bhatia and Nikki Kalia in Mumbai, Kishmish aims to create simple, comfortable handloom clothing. The brand is known for its relaxed silhouettes, use of heritage craft techniques.

BRAND RETAIL India’s biggest retailers to expand network

ome of India’s biggest retailers including Aditya Birla Fashion & Retail, Avenue Supermarts and the Tata-owned Trent plan to expand their retail spread by adding new stores in the next financial year. As per a recent report by ICICI Securities, between FY21 and FY24, eight prominent retailers in India will add upto 16.7 million sq ft as compared to 8 million sq ft added in the preceding four years of FY18-21. These companies include: Titan, Bata, V-Mart, TCNS and Shoppers Stop. These retailers are expanding to consolidate their market presence, says Devangshu Dutt, CEO, Third Eyesight, a consulting firm.

Aditya Birla Fashion plans to invest `600-800 crore for expansion in the next couple of years. It will add upto 3.1 million sq ft, as per the ICICI report. Avenue Supermarkets would add upto 7.5 million sq ft during FY21-24 for the DMart stores as compared to 3.9 million sq ft added in FY18-21 while Trent would add 2.7 million sq ft. Shoppers Stop would add 0.8 million sq ft and Bata would add 0.7 million sq ft India’s largest retailer, Reliance Retail, also plans to expand its retail network by exploring new geographies, says Gaurav Jain, Head-Strategy and Business Development.

Spanning 1,700 sq ft, the Jaipur store is spread across two floors. It is the first high street store for the brand in India. The store offers the latest trends in jeans, which includes an extended size offering sizes ranging from 24-36 inches for women and 29-38 inches for men. The range for men includes the new Airflex+ Skinny and 360 Slim denim, plaid shirts, polos, and graphic logo tees. The range for women includes fashion and comfort jeans from the Mom Straight to the Super High-Waisted Flare, which can be paired with a new assortment of smocked woven tops, comfy graphics and baby tees. The new denim collection also features the Real Good badge. This icon denotes American Eagle products made with the planet in mind and manufactured using more sustainable techniques, in a facility that meets AEO Inc.’s standards for water recycling and reduction. A leading global specialty retailer, American Eagle Outfitters offers high-quality, ontrend clothing, accessories, and personal care products at affordable prices under its American Eagle Outfitters and Aerie brands. The company operates more than 1,000 stores in the US, Canada, Mexico, China and Hong Kong, and ships to 82 countries worldwide through its websites. American Eagle Outfitters and Aerie merchandise also are available at more than 190 international locations operated by licensees in 24 countries.

Zodiac Clothing Company adds 14 new stores

casual luxury brand embodying elegance such as Frenchness. This brand focuses on high level of quality and professionalism within areas such creation, style, manufacturing and retail. Its products and employees offer clients live a unique experience regardless of the distribution network, physical or digital, everywhere in the world.

Lacoste to boost omnichannel presence in India French lifestyle brand Lacoste plans to boost its omnichannel presence by growing online and offline operations in India, says Rajesh Jain, Managing Director and CEO. To upgrade its offline experience, Lacoste is setting up bigger boutiques besides premiumizing products and the brand itself. The brand plans to expand online operations by partnering with some select third party marketplaces in this current year, adds Jain He opines the brand’s current sales growth will continue for another two to three years as consumption has surged past pre-COVID levels. The brand has also witnessed a decline in current profit margins due to a rise in raw material prices. Lacoste aims to be a unique

American Eagle to set up 50 stores in India in three years America’s favorite jeans brand since 1977, American Eagle Outfitters plans to launch 50 stores in India in the next three years. The brand launched its first franchise store in Jaipur under license from American Eagle Outfitters to Aditya Birla Fashion and Retail

Zodiac Clothing Company has added 14 new stores in the north Indian states of Punjab and Maharashtra. As per a Fashion Network report, the stores house the company’s menswear brands. Zodiac sees huge potential in these states and is banking on its affordable pricing coupled with its diverse range for growth. With this expansion, the brand expects to make deeper inroads in the Indian menswear market and plans to invest to further widen its presence across the country. Salman Noorani, Managing Director, Zodiac Clothing, says with retail spaces opening post-pandemic the company wants to secure even more locations across the two states so that consumers in the state can experience Zodiac Store and our brands in their own city. An omni-channel retailer, Zodiac Clothing Company has 100 company-managed stores and 1.200 multi-brand retailers in India, with a strong presence in the UK, Germany, and the US.

36 BRAND RETAIL Indian Terrain Fashions to open 150 new outlets

eeing huge potential for growth post the COVID-19 pandemic, Indian Terrain Fashions plans to open around 150 new outlets across India to fuel its growth. Indian Terrain, which opened its first retail outlet in the year 2000, currently retails from over 700 multi-brand outlets, 130 large format stores, and 98 exclusive brand outlets. It also sells on all leading e-commerce websites. For its fourth quarter ended March 31, 2022, Indian Terrain Fashions posted a net profit of `6 crore ($772,093) as against net profit of `27 crore posted in the year-ago period.The company’s revenue for the quarter rose to `110 crore as against `93 crore it posted in the corresponding period of the previous fiscal year. For the financial year 2021-22, Indian Terrain managed to narrow its loss to `2 crore, as compared to last year’s `31 crore while its revenue increased to `344 crore as compared to previous fiscal’s `225 crore.

Libas plans 50 new offline stores by 2023-end Indian fast fashion ethnic wear brand Libas plans to set up 50 new offline stores in Tier II and III cities by the end of 2023. In the last six months, the company has opened three brick and mortar stores in Delhi. Currently present offline only in Delhi, the company plans to launch nearly five to six stores in metro cities such as Delhi, Mumbai and Bengaluru over the next three to four months. The brand is expanding within metro cities due to the economic and e-commerce data it has. The brand’s gross revenue grew by around 40 to 45 per cent during FY22. The company claims it has set 80 to 85 per cent growth rate for all its major channels including retail stores, D2C channels, among others. The brand’s offline stores account for about 10-12 per cent of the overall business, while the remaining 90 per cent comes from

online platforms. Furthermore, within online, e-commerce marketplaces such as Amazon, Flipkart, among others account for 75to80 per cent of the revenue, while the rest 20 per cent comes from the company’s website. By the next two years, the brand expects the revenue split between marketplaces and offline channels to be equal. The brand plans to launch its first campaign on digital platforms such as social media and OTT channels including Hotstar and Voot. It recently launched a Spring Summer 2022 campaign #TheresAlwaysALibas with actress Sara Ali Khan.

Puma India adds Maldives to syndicate with a new store launch

Sportswear brand Puma India has included Maldives into its syndicate that currently includes 19 other countries like Singapore, Indonesia, Malaysia, Thailand, Vietnam and Philippines. The brand opened its first store in the Republic of Maldives, whose tourism has grown by triple digits in the last two years.

Puma forayed into the Maldives market in partnership with sports and lifestyle marketplace Sonnee Sports. The partnership will allow the brand to expand its offline retail presence and also explore e-commerce, sports clubs and other distribution channels in this new market. Located at Male’s iconic shopping street Majeedhee Magu, the store is a one-stop destination for tourists and fashion enthusiasts besides the growing local football and futsal community. Revenues of Puma India grew to Rs 2.044 crore in fiscal year ending December 2021 The brand added 51 new stores in 2021 pushing up the exclusive store count to 450 in the current fiscal.

Ace Turtle to open 100 Lee & Wrangler stores this fiscal

Asia’s leading omni-channel platform Ace Turtle plans to open over 100 omnichannelenabled stores of brands Lee and Wrangler by March 2023. The Bengaluru-based company has already hired senior leaders to drive the expansion. As per Nitin Chhabra, co-founder and CEO, Ace Turtle, the company will launch new stores on the franchise model across Tier I, II and III cities. The stores will be located closer to customers’ locations. The Licensed Brands vertical was launched by Ace Turtle in 2021 through the acquisition of long-term licenses of iconic denim brands Lee & Wrangler from Kontoor Brands for India and a few South Asian markets. The company is engaged in providing design, local sourcing and retailing services consumer brands in India. Within a short duration, the company has transformed both the brands’ businesses by leveraging its omnichannel technology platform. Founded in 2014, Ace Turtle is the market leader in omnichannel technology space for enterprise brands in India. It is a frontrunner in New Age commerce having two business verticals: SaaS and Licensed Brands. With its proprietary platform Rubicon, Ace Turtle integrates online and offline retail channels enhancing efficiency and scalability through omnichannel transformation by intelligent use of data.

BRAND RETAIL AMPM expands retail footprint

uxury, minimalist womenswear and accessories brand AMPM has expanded its retail footprint by opening a new store in DLF Emporio in Delhi. As per a Fashion Network report, having an earth-toned interior, the store houses the brand’s own courtyard designed to create the feeling of a sanctuary. The store launched with the brand’s spring/ summer 2022 collection which features loose kaftans and separates with delicate geometrical details and matching sculptural handbags. AMPM joins Indian and international luxury brands including Dior, Gucci, Bally, Gaurav Gupta, Ekaya, and Pankaj & Nidhi, etc. The store and the furniture are finished with the same earthy tones through a process called microstopping, says PriyankaModi, Co-Founder. The space reveals itself layer by layer, detail by detail, quietly imbuing a sense of wonder; like a home that quietly cocoons you from the din of the world outside, she adds. Husband and wife duo Ankur and PriyankaModi founded AMPM in 2002. The brand is known for its relaxed take on femininity and neutral color scheme.

Zymrat launches first offline store in Bengaluru

Australian womenswear designer Alex Perry has launched his label in India at the multi-brand luxury boutique Le Mill in Colaba, Mumbai. The brand launched with a Spring/ Summer 2022 collection featuring neon bodycon dresses and suits with boxy jackets and loose shorts. The collection also includes gowns, jumpsuits, and sets. Perry joins international brands including Balenciaga, Zimmerman, Dries Van Noten, and Wandler among others at Le Mill. Perry has already dressed Bollywood celebrities including Katrina Kaif and Priyanka Chopra which bodes well for his brand’s uptake in India. A beautifully curated home for luxury fashion, Le Mill offers a truly diverse collection of brands. Alex Perry is an Australian fashion designer and television presenter, popular for his women’s wear. His designs have been worn by celebrities including Jennifer Lopez, Kim Kardashian, Gigi Hadid, Sandra Bullock, Gwyneth Paltrow, Rihanna, Priyanka Chopra, and Lupita Nyong’o.

Lulu Group to set up malls in Karnataka

Direct-to-consumer (D2C) athleisure brand Zymrat has launched its first offline store at Bengaluru’s Garuda Mall. The brand sees huge growth potential in the offline space and plans further expansion to other parts of the country. Ujjawal Asthana, co-founder says, the first flexi retail experience centre will sell products that have recorded massive acceptance online. The brand is committed to expanding offline through flexi retail, exclusive brand outlets, and multi-brand outlets.

Founded in 2018, Zymrat, an innovationled performance wear brand, offers a wide range of training and running products such as T-shirts, shorts, joggers, and outerwear for men. It recently raised $500,000 (`3.5 crore) in seed funding led by Dominor Investment Holding LLP.

The CAI Store to open first physical outlet in Mumbai A PETA-approved homegrown vegan footwear brand, The CAI Store will open its first official physical outlet at Phoenix Palladium in Mumbai. As per an Apparel Resources report, the store will open will the brand’s latest collection that aims to elevate both the craft and comfort components of the brand.

From selling out at their very first small exhibition in 2018 to launching a collection in collaboration with stylist and film producer Rhea Kapoor, CAI is achieved everything within a short span. Started in 2015, The CAI Store is a Made in India brand with the sole purpose of providing non-leather and vegan footwear locally and globally to the trend-conscious market at an accessible price point.

Alex Perry debuts in India at Mumbai’s Le Mill boutique

Lulu Group plans to set up malls in Karnataka and has signed a Memorandum of Understanding with the government for the same. Lulu Group will set up four shopping malls, hypermarkets, and food processing units for agricultural exports. To begin from FY2023, the investment will add 10,000 jobs to the state. The MoU was signed during the World Economic Forum in Davos in Switzerland. EV Ramana Reddy, Additional Chief Secretary - Industries, Karnataka signed the MoU with MA Yusuf Ali, Chairman, Lulu Group, Headquartered in UAE, Lulu Group is operated by by MA Yusuff Ali who hails from Thrissur, Kerala, and launched the business in the year 2000. The multinational conglomerate operates across Asia and also has retail estate and hospitality businesses.

38 BRAND RETAIL Online channel to account for 50 per cent of Asics’ India sales

he online channel is expected to account for 50 per cent of Japanese sportswear brand Asics’ total sales in India in the next two or three years. The company’s local arm Asics India is also expanding its retail network by setting up retail stores across the country. Currently, digital sales account for 35 per cent of its total sales in India, as per Rajat Khurana, Managing Director. This may increase to 50 per cent in the next two-three years, he adds. Asics India clocked wholesales of around Rs 200 crore last year. The company is witnessing a growth in the performance segment, with the category accounting for around 60 per cent of total sales. It aims to be a leading sports brand in future. This year, Asics India expects to grow around 30 per cent over last year. In the last two and half years, it has opened over 25 stores and this year it plans to open 10 to 12 new stores, Khurana says. The target is to increase its store count to 85 by the end of this year, he adds. Asics is also adopting new materials and technologies to improve the sustainability of stores while also providing a holistic shopping experience and service to its consumers.

With this, Myntra has further strengthened its international licensed brands portfolio. The retailer had earlier partnered with fashion and lifestyle brands such as Mango, Nautica, H & M, and Slazenger and assists them in distributing their products in India. Through its partnership with Myntra, bebe aims to cater to the mass premium segment with an extensive range of apparel across categories. The fashion brand will particularly target women in metros and tier 1 cities and establish a strong customer base.

V2 Retail to expand store network to 120 outlets

Jain Amar Group to expand offline presence

Jain Amar Group, the parent company of Madame, plans to increase offline presence with an investment of `28 crore. Last year, the company expanded its offline reach through exclusive stores, shop-in-shop, and large format stores covering diverse regions and catering to all loyal customers. In FY 2022, it managed a turnover of `265 crore on a provisional basis even with the slow market conditions due to the pandemic. However, in FY 2022- 23, Madame is expecting a 50 percent growth in its turnover. Now the brand has also moved into the space of accessories like handbags and sunglasses. This segment has shown a promising trend in

the recent past and Madame plans to focus on its growth. At the same time, the company has also set a goal to expand its digital footprint, leveraging the e-commerce space, by using digital marketing and influencer marketing. It also launched its exclusive online store, Glamly, and is working towards its expansion as well. The brand expects a 38 per cent increase in Y-o-Y demand as compared to pre-COVID levels. It has been receiving a promising response from the customers at the beginning of the summer season of 2022 and it has recently opened new exclusive stores in many cities. The parent company continues to work on enhancing customer experience and the learning and development of its human resource. The company, which debuted in 1993 and opened its first store in 2002, now boasts over 150+ unique locations across the country.

Myntra bags distribution rights for bebe E-commerce platform Myntra has bagged the rights for master distribution and management of global women’s fashion brand bebe in India. Myntra will assist the fashion brand in wholesale distribution through a network of third-party franchise partners and distributors. Bebe aims to set up five brand outlets and ten shops in shops over the year across 3 cities.

Apparel chain V2 Retail plans to increase its total retail outlets to 120 by opening 20 more stores. As per an Indian Retailer report, the company also plans to employ 200 people for its stores across seven states including the national capital Delhi by the end of the ongoing financial year 2022-23. The company will hire people from retail backgrounds for these positions. As per its growth strategy, it plans to expand into the Tier-II cities of UP, Odisha, Bihar, Jharkhand, Karnataka, and Goa. The company is seeing a 30 per cent jump in new employment in the current quarter, as per Akash Agarwal, Director. Last year, it hired 700 freshers across India. It hopes to sustain this momentum for the next two years. It is looking for fresh and skilled and it has reached a milestone of 100 stores this fiscal.

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40 COVER STORY

MONTE CARLO ‘We are looking at a great season ahead’

After two tough years, Monte Carlo’s summer collection was a huge hit among customers. To remain ahead, the brand launched a luxury collection Luxuria along with other innovative products. Going forward, it expects the strong growth momentum to continue

ocusing on fundamentals, a strategy adopted during the pandemic, lifestyle brand Monte Carlo launched Luxuria, a luxury collection. As Sandeep Jain, Executive Director, Monte Carlo Fashions says, “Considering the demand in high-end and premium quality products, we introduced Luxuria that caters to the niche segment where excellence in product is of utmost priority. Luxuria products are designed using fine and superior quality fabric to provide that upper edge and premium outook.”

• Monte Carlo’s summer collection was loved by customers for its vibe comfort. • The new luxury collection, Luxuria is made from innovative water, stain and odor resistance fabrics. • Launched a new range of fashion socks. • Offers 500 knitwear styles for men, women and kids. • Is the first Indian brand to stitch an entire garment in one piece using technology from Shima Seiki.

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“The brand’s next innovation is an amalgamation of conventional sweatshirts and jackets. Known as Sweacket, these offer stylish comfort during winters.”

Jain says, their summer collection was much appreciated and “customers simply loved it.” Their designers and merchandisers made sure the collection is trendy and comfortable. “We keep consumers vibe in mind and present our new collection that caters to all age groups whether it is a Gen-X, Z or millennials.”

Keeping focus during tough times The pandemic was a time for reflection for the brand that was incepted in 1984. The sudden closure of all operations not only impacted sales but also production. The brand faced problems procuring raw materials. However, focus on summer range and new categories helped it bounce back quickly. As Jain says, “Indeed it was a tough time for all brands and the apparel industry was hit badly. To bounce back, we ensured and kept our fundamentals right in production and operations. Also, we also started putting extra emphasis on our summer category for

Sandeep Jain, Executive Director, Monte Carlo Fashions the last few years, which yielded good results now. New categories like kids wear, home furnishing and Rock It (athleisure wear) are showing great growth along with existing categories of the brand.”

Offering superior designs and styles Luxuria, the new luxury collection caters to a niche group of customers, the collection is made from innovative fabrics that are water, stain an odor resistance. The brand has introduced new designs styles with different cuts and patterns in the collection to add the oomph factor to user’s style. “The collection is made from a mix of solid blocks and seasonal colors,” adds Jain. Famed for its enthralling designs, Monte Carlo offers over

500 knitwear styles for men, women and kids. The brand has an independent research and development department for woolen knits and weaves. Most of its designs are made using imported machines from Japan, Italy, UK and Germany. Known for superior quality garments, Monte Carlo uses nylon blends, Lycra-based fabrics, fine cotton in different weaves for outerwear. The brand’s knitwear collection is made from cotton and its blends, fine count cotton, cotton linen, organic cotton etc. It uses multiple patterns in prints and designs to match individual style and preferences using seasonal colors and trends, informs Jain.

New innovations Apart from regular favorites like jackets, jumpers, pullovers, jerseys, basic polos, crews, veers, the brand constantly innovates its products range. In recent times, it has introduced many innovative products including a range of fashion socks. “Taking innovativeness to new heights, these socks have been launched in flamboyant colors and pop art patterns like polka dots, psychedelic prints, etc,” affirms Jain. Monte Carlo has also introduced a new range of multi-utility jackets for travelers. Stylish, elegant and user-friendly, these jackets are capable of holding consumers’ entire range of utility items. “Equipped with 16 features, they make travellers’ journey comfortable and enjoyable,” assures Jain. “The brand’s next innovation is an amalgamation of conventional sweatshirts and jackets. Known as Sweacket, these offer stylish comfort during winters,” Jain explains. An affordable brand for the youth and those who remain young at heart, Monte Carlo’s products are considered a class apart by consumers. The brand has earned unparalleled fame for its exceptional styles and reasonable prices. “The clothes reflect warmth, love, passion, romance and confidence and are an epitome of modernity and vibrancy,” Jain opines.

A great year ahead After two years lull due to the pandemic, the current year looks bright for Monte Carlo. It is looking forward to a great season and expects

42 COVER STORY

sales to increase by around 20-25 per cent compared to last year. “The upcoming festivals and weddings season is likely to bring great opportunities,” opines Jain. Sales across categories have increased owing to a rise in domestic fashion consumption. In the last 12 months, the brand has also opened 25 exclusive brand stores besides enhancing its presence in large format stores and multi-brand outlets. Also, e-commerce business has grown multi-fold since the pandemic and has become a major contributor to overall revenue. Online business currently contributes around 7-8 per cent to the brand’s total revenue, majority of which is from own website and other leading portals like: Myntra, Ajio, Amazon, Flipkart, etc. The brand continues to focus on online business by introducing new digital marketing

“Considering the demand in highend and premium quality products, we introduced Luxuria that caters to the niche segment where excellence in product is of utmost priority.”

“To bounce back, we ensured and kept our fundamentals right in production and operations. Also, we started putting extra emphasis on our summer category for the last few years, which yielded good results now. New categories like kids wear, home furnishing and Rock It (athleisure wear) are showing great growth along with existing categories of the brand.”

initiatives. “We also work on back end technical functions to offer customers a valuable user experience,” notes Jain. Building a robust omni-channel network to connect retail and e-commerce is one of Monte Carlo’s longstanding visions. This will help manage inventories and distribution besides utilizing slow moving stock.

Setting high goals Since 2000, Monte Carlo has succeeded in achieving new heights of success. The brand was awarded ‘The Best Exhibited Product’ by the International Wool Secretariat. A survey conducted by Images-ORG-MARG, ranked it number one woolen brand in the country. Monte Carlo has also bagged, ‘Superbrands’ award multiple times. It got the WCRC award for being ‘Asia’s Best Marketing’ brand and has bagged numerous awards for production and advertising. In 2000, Monte Carlo launched a high fashion range called Wonderhugs. It is made with an innovative technology from Japanbased Shima Sheiki that helps the brand knit the entire garment in one piece while overcoming rough edges, joints and bulges. “Monte Carlo is the first brand in India to use this technology. It helps achieve better finish and design while enhancing the beauty of the garment,” says Jain. Monte Carlo’s parent company Oswal Wools Mills has earned Woolmark license and functions as the quality checking center for other manufacturers. The organization exports finished products to Europe, US and South East Asia. Felicitated as a ISO: 9002 company, Oswal Wool Mills strictly follows Pollution Control Board norms.

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Duke enthralls consumers with trendy Autumn/Winter collection

ime and again, fashion brand Duke has enthralled with its captivating collections. The brand is once again luring consumers with its latest Autumn/Winter collection Available on the brand’s websites and exclusive outlets, the Duke Autumn/ Winter collection features a wide range of designs and styles. Created by a new generation of Indian and European designers, the collection offers cozy, fashionable and cosmopolitan dressing styles in superb fitting, design and a variety of fabrics and patterns.

Ageless Trends “Based on the vision of ageless trends, the Autumn/Winter’ 22-23 collection caters to all age group across seasons,” says Kuntal Raj Jain, Director. The stylish range is in sync with international designs, fashion and quality, he adds. A value for money brand, Duke aims to provide international designs and styles at affordable prices. The Ludhiana-based company is a well known name in readymade garments category. It is acknowledged as the undisputed industry leader for its valuebased, authentic fashion. Launched in 1966, the brand draws influence from latest international fashion trends. Duke is viewed as a pure Indian fashion brand

with a pan India presence. Duke Fashions (India) pioneered the T-shirts culture in India, and gradually established several new trends in knitting garments and fabric research.

Unbeatable infrastructure marketing network

and

Equipped with a complete vertically integrated garments manufacturing plant, with knitting, dyeing, processing, finishing, mercerizing, compacting, embroidery and printing facilities, Duke offers complete range of products including: T-shirts, jackets, sweaters, sweatshirts, tracksuits, thermals, jogging suits, shirts, denims and trousers, lowers, bermudas, shorts, value packs, lounge wears, for men, women and kids. The brand aims to be known globally for good quality garments and contemporary styles at affordable price in the premium and mid-premium segment. Duke has an unbeatable marketing network comprising over 4,000 multibrand outlets and more than 400 exclusive stores across major Indian cities. Moreover the brand’s products are exclusively sold in big chain stores like: Shoppers Stop, Pantaloons, Reliance Trends, Metro, More, Brand Factory etc and on online platforms including Myntra, Snapdeal, Flipkart, Ajio, Tatacliq.com,

Paytm, Amazon and www.dukeindia. com. The brand continues to offer value for money products to a loyal customer base across the country.

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Aditya Birla on expansion spree

ditya Birla Fashion & Retail (ABFRL) is currently on an expansion spree. The company has launched its own house of brands entity TMRW to support the development of digital fashion and lifestyle brands. To operate as a wholly owned subsidiary of the Aditya Birla Group, this entity will build over 30 brands in the next three years. The move also marks ABFRL’s entry into the D2C segment that is expected to reach $100 billion by 2025. Earlier known for housing a few brands, the company is widening its portfolio to include a larger variety catering to a large number of consumers, says Ankur Bisen, Senior Partner and Head-Food and Retail, Technopak Advisors. The launch will help ABFRL position itself as the next fashion major, Bisen opines. It will be led by Prashanth Alluru, a former Facebook and Bain employee.

Growing importance among new age consumers TMRW will also make ABFRL competitive with start-ups like the Good Glamm Group and Mensa Brands, etc. and increase the company’s importance amongst new age consumers. The move is being emulated by other companies like Reliance Retail and Myntra. With a network of over 3,3000 stores across India, ABFRL holds brands like Pantaloons, Van Heusen, Louis Philippe

and Allen Solly. It also has collaborations with brands like Forever 21, American Eagle and Reebok. The retail company has formed strategic partnerships with ethnic wear designers including Sabyasachi, Masaba and Shantanu & Nikhil. Significantly ABFRL’s achievements during the year includes a 55 per cent surge in revenues to Rs 8, 136.22 crore. The company also narrowed its losses to Rs 108.72 crore during the year. Around 68.4 per cent revenue was achieved from Madura Fashion & Lifestyle and the remaining 31.6 per cent came from Pantaloons, reveals Bloomberg data. ABFRL has also built a good consumer portfolio for these brands, says Ambi Parameswaran, Author and Founder, Brand-Building.com. It manages them separately. The new entity will offer these as well as other ethnic brands acquired by ABFRL in the last three years, he adds. The collaborations these brands will enter into will probably be in areas like supply chain, logistics, finance and HR. They will focus on building strong individual identities. In 2017, ABFRL shut down its maiden e-commerce venture All About Fashion (ABOF) though the venture was again made available on Flipkart and Myntra in August last year.

Focus on exclusivity Building a ‘house of brands’ benefits both large conglomerates and smaller

brands acquired by them. The concept is particularly beneficial to the few niche D2C brands that find it difficult to swim through the complicated multilayered distribution and retail channels as it helps them connect directly with customers. Devangshu Dutta, CEO, Third Eyesight, affirms having a house of brands helps companies launch a variety of product ranges and remain exclusive. It also helps them expand into the established modern and traditional retail formats and cater to a more general audience.

Non-compatible with few distribution models On the other hand, large companies cannot grow their existing brands and products beyond a certain point. They are compelled to acquire other businesses and brands, Dutta explains. The model also faces other challenges like non-compatibility of categories with the distribution and supporting multiple brands with marketing investments, adds Anshuman Bhattacharya, Partner and National Leader-Consumer Products and Retail. Another major challenge of the model is the concentration of market power within a few selected companies which can not only impact consumer demand but also product supplies and prices.

48 FEATURES

Apparel retail buzzes with activity as brands expand stores

Apparel retail has finally picked up once more after two years of pandemic affected sales. With customers back in stores, domestic and global brands are spreading their retail footprint across India. Small cities are attracting more brands now, finds out Team DFU.

fter over two years lull, the buzz is back in apparel retail business both in India and globally. As per a CRISIL report, the apparel and footwear categories in India are witnessing double-digit growth with the revenues of brick and mortar retailers growing by 20-25 per cent this year. To encash in on demand, retailers are adding new stores and exploring new store formats in both shopping malls and highstreets. As Pankaj Renjhen,COO & Joint

• With curbs lifting most retailers and brands plan store openings • Big retailers are opening 15 per cent more stores this year • Categories leading new store openings include fashion, beauty and cosmetics • Shoppers Stop plans to open 20 smaller sized stories • Aditya Birla Fashion and Retail will add over 100 new stores of Ethnicwear and Pantaloons annually • Tier-II cities are set to witness a supply of close to 2 million sq ft of Grade A malls space

FEATURES Managing Director, Anarock Retail points out, well-established retailers are opening 15 per cent more stores this year. Growth is being driven by an increase in consumption, consolidation in small retailer categories and customers moving from unorganized to more organized retail format. The categories leading new store openings include: fashion, beauty and cosmetics, confirms Renjhen.

Sales recovery driving up expansion plans

Despite price rise across categories backed by inflation in fuel and commodities, retail as a category so far has remained untouched. Interestingly, even as fast moving consumer goods have been reporting a fall in volumes for several quarters, overall retail, which includes discretionary segments such as fashion and jewellery, has seen a jump in sales. As per a survey by the Retailers Association of India in May 2022, retail businesses across the country reported a 23 per cent increase in sales in April compared to the pre-pandemic period. While some of this growth came on account of inflation (value growth), the overall trend has been positive for retailers due to revenge buying by customers with the return of normalcy after two years of pandemic. Apparel brands including Shoppers Stop and Aditya Birla Fashion and Retail have chalked out expansion plans for their physical store network. Shoppers Stop for example plans to open 20 small sized stories and 20 beauty stores over the next two years most of these in small towns. Likewise, Indian Terrain, which currently operates 200 stores across 150 cities, plans to expand in Tier I and III cities. Since March last year, the brand added 40 stores and aims to continue with this momentum. Aditya Birla Fashion and Retail (ABFRL), is looking to expand its store count by adding over 100 new stores of Ethnicwear and Pantaloons annually. The company has improved its margins significantly on increased retail and private labels business, lower mark downs and cost control measures. Further, ABFRL’s licensed brand in India, American Eagle plans to open 50 new stores across the country in the next three years. India-based listed apparel company Go Fashion has unveiled plans to open around 120-130 stores year on year. Its expansion plan also includes strengthening omnichannel

Global retailers and brands are making a beeline for India after a gap of two years. More than a dozen international brands, have rushed in over the last few months, optimistic about their prospects in the country after the Covid-19-induced lull in luxury consumption. engagements to streamline consumer experience and reach customers in Tier I to III cities through a technology-driven growth strategy. The company has opened its 500th exclusive brand outlet in Pune. ASICS with 72 mono brand stores operated by through franchisees in India, plans to add about 17 new stores in 2022, majority in Tier-II and III towns. Akhil Duggar Jain, Executive Director, Madame says this year they have launched seven stores including FSOs & EBOs and are planning to add another 15-20 stores this financial year. Numero Uno launched approximately seven stores so far this FY and plans to open around 35 more stores across the country with average store size of 7001000 sq. ft. FabAlley & Indya’s plan to double offline footprint this year by adding 25 more EBOs, three of which have already been launched. The stores will be a mix of company-owned stores and franchisees and the average size will be 600-800 sq. ft. They are also looking at increasing the footprint of large-format stores by adding another 100 shop-in-shops in the next 12-18 months.

International brands push up India presence Meanwhile, many international brands are also opening large-format stores outside metros. Japan’s Uniqlo is now opening new stores in Tier-II cities, while other brands like, Zara and H&M have been expanding in Indian cities after the pandemic. German footwear brand Birkenstock plans to open 25 outlets in India this year, while Italy’s Pianoforte Group aims to launch 20 stores each of the Yamamay and Carpisa brands in the next two years. Lingerie major Victoria’s Secret India plans include its first brick-and-mortar outlet on 4,000 sq ft in Delhi’s Ambience Mall. Rohit Malhotra, CEO, Jay Jay Capital & Investments and Owner, Birkenstock says, this is the right time to expand as markets have opened up and restrictions eased. The company plans to open about a dozen shopin-shops and standalone outlets this year of global sportswear and athleisure brands of Lonsdale London and sports equipment company Everlast in India.

Mall driving up brands’ success story As retail brands are opening new stores malls too are driving this success story of brands with their expansion plans. The pandemic has made mall space cheaper by around 20 per cent and the trend is likely to continue in 2022, says Kirti Khosla, Marketing Agent, Pianoforte, which is expanding its Yamamay and Carpisa stores Meanwhile DLF Malls is adding 130 unique brands across its retail and F&B categories in eight premium and luxury properties across Delhi-NCR. The developer is seeing a heavy demand in athleisure and beauty segment,

50 FEATURES As per a survey by the Retailers Association of India in May 2022, retail businesses across the country reported a 23 per cent increase in sales in April compared to the pre-pandemic period. While some of this growth came on account of inflation (value growth), the overall trend has been positive for retailers due to revenge buying by customers with the return of normalcy after two years of pandemic. around 4-6 per cent, indicates ratings agency ICRA. Footfalls at retail malls are expected to reach pre-COVID levels during the third quarter of 2022-23 leading to developers increasing rentals by about 20-25 per cent, adds Pushpa Bector, Executive Director, DLF Retail

A good year for global fashion retailers says Yogeshwar Sharma, DLF Retail International. Another trend that’s driving expansion is opening up more stores in Tier-II and -III towns, with high demand for organised retail brands coming from these areas. Tier-II cities such as Indore, Lucknow, Ahmedabad, Jaipur, Udaipur, Chandigarh and Mohali are set to witness a supply of close to two million sq. ft. of Grade A malls space, as retailers are pushing to open stores in smaller cities amid increasing demand, notes Shibu Philips, Director-Shopping Malls, Lulu Group India. The group entered the northern retail market with Lucknow due to the major consumer shift witnessed from Tier II, III markets. It plans to expand to cities like Varanasi, Prayagraj and Ahmedabad in near future. Developers like Phoenix, Bhumika, Trehan

Iris, Sushma and Unity also plan to open malls in small cities. They have realised where the customer base is and want to move there. Phoenix Mills is opening new malls in Indore and Ahmedabad this year s due to increasing demand in Tier-II cities, says Rajendra Kalkar, President-West As a substantial population continues to work and shop from home, mall development across Tier II and III cities continues to increase, affirms Prateek Mittal, Executive Director, Sushma Group which plans to expand its retail presence in smaller cities. Both international and domestic brands are increasingly looking to expand as consumer moved there during pandemic. Rental incomes of mall developers is expected to grow 30 per cent year-on-year in 2022-23 and surpass 2019-20 levels by

Not just India, 2022 has been good year for fashion retailers across the globe. Sales revenues of apparel retail in US increased 36.37 per cent over 2020. On the other hand, apparel imports by the US grew by 27.36 per cent on Y-o-Y basis. Growth continues in 2022 with apparel retail sales surging 13.76 per cent in January to April ’22 to $81 billion as compared to $71.20 billion in the corresponding period of 2021, as per OTEXA, reports.. In fact, the first quarter income of Macy’s, the reputed clothing giant, grew 178 per cent to $286 million owing to its Polaris turnaround strategy. Sales rose 13.6 per cent to $5.3 billion. With gross profit margin rising 40 per cent, Macy’s now plans to diversify with an online marketplace that will comprise thirdparty merchants selling via Macy’s and Bloomingdale’s sites. Sales of Abercrombie & Fitch Co grew 4 per cent to $813 million- its highest first quarter since 2014. While Guess saw ts first quarter revenue surge 14 per cent to $593.5 million – all thanks to licensing sales and Americas wholesale revenues. Similarly, Q1 sales of apparel retailer Urban Outfitters’ shot up 13.4 per cent. Owing to increased store traffic, the retailers net sales in the quarter that ended April 30, 2022 grew 12 per cent. The scenario is similar in the UK with apparel retail sales growing an impressive 15 per cent to £38.10 billion in 2021. Retailers, across the UK, have witnessed consistent apparel sales growth. Sales of British athleisure brand Gymshark grew 54 per cent to £402 million from £260.7 million in 2021. British luxury brand Burberry also saw its revenues increase 21 per cent to £ 2.8 billion for the year ended April 2022.

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Brands get going with store openings

pparel brands and retailers are making up for lost time. With the Covid situation more or less under control, or at least appearing to be so, and consumers willing to start spending on whatever they had to forego spending on over the last two painful years, business prospects look bright for manufacturers and traders. One sign of this is the slew of store openings taking place, at malls and on high streets. The newfound confidence is apparent in the announcements of new outlets of apparel and footwear brands, both in urban centers and in small cities. The

work from home trend has spurred sales of casual and informal clothing. Fitness enthusiasts are willing to spend on shoes and backpacks and hikers are looking for travel gear that meets their needs. Apparel brands including Shoppers Stop and Aditya Birla Fashion and Retail have chalked out expansion plans for their physical store network. Shoppers Stop for example plans to open 20 small sized stories and 20 beauty stores over the next two years most of these in small towns. Likewise, Indian Terrain, which currently operates 200 stores across 150 cities, plans to expand in Tier I and III cities. Since March last year, the brand

added 40 stores and aims to continue with this momentum. It is not only adults who are serious buyers. Children have emerged as buyers with likes and preferences of their own, fuelled by social media and insta and peer and youtube influencers. And what they liked three months back may not be what they like now. So brands are getting nimble and quickly adapting to the changes. Online retailers are updating their offerings with unprecedented regularity. All in all, buyers are hitting retail with a vengeance and brands are looking to make sure customers don’t go back disappointed.

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Levi’s opens largest mall store in India

Levi’s has opened its largest sized store within an Indian mall to date in Mumbai’s Oberoi Mall. The store measures 3,798 square-feet and houses the brand’s ‘Tailor shop experience’ centre.

enim and casual wear brand Levi’s has opened its largest sized store within an Indian mall to date in Mumbai’s Oberoi Mall. The store measures 3,798 square-feet and houses the brand’s ‘Tailor shop experience’ centre. Levi’s new store houses a wide selection of menswear, womenswear, and accessories. The retail space has a customization area where shoppers can personalize their Levi’s clothing with

patches, embroidery, paneling, and distressing for an interactive experience. Sameep Pathak, CEO, Oberoi Mall, says the addition of this denim giant will definitely boost the casual offerings at the mall. Levi’s entered the Indian market in 1994 through its whollyowned subsidiary Levi’s Strauss India Limited. The brand aims to continue to expand its brick-and-mortar footprint across the country this year.

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Ethnix opens flagship in Delhi

A youth-centred traditional wear brand, Ethnix by Raymond’s caters to customers aged 25 to 35 years. It offers a collection of readymade ensembles with an accessory solution to make each occasion memorable.

thnix by Raymond has opened its largest flagship store in Delhi. Spread across 5,300 sq. ft. the store houses the brand’s latest collection including an ethnic wear range comprising kurtas, sherwanis, bundis and bandhgalas. It plans to open around 150 stores across the country during the current financial year. The brand plans to adopt a cluster approach to opening stores at Chandigarh and Ludhiana. It will cater to the demands of the customers with unique and elegant designs at an affordable price

range, says Preeti Chopra, Head-Business Development and Retail. A youth-centred traditional wear brand, Ethnix by Raymond’s caters to customers aged 25 to 35 years. It offers a collection of readymade ensembles with an accessory solution to make each occasion memorable. The categories include: sherwani, Indo western, bandgala, bundi, kurta with churidar, jacket and suits. The Ethnix collection is inspired by the artistic design and color combinations taken from the themes of Baroque and Mosaic in the form of embroidery or prints.

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FabIndia opens a new store in Chennai

The store spread across two floors houses the brand’s wide range of clothes for men, women and children, and accessories. It also houses bed linens, home décor, and the brand’s newly launched beauty and personal care range.

thnic wear and lifestyle brand FabIndia has expanded its retail footprint with a new brick-and-mortar store in Chennai. The store spread across two floors houses the brand’s wide range of clothes for men, women and children, and accessories. It also houses bed linens, home décor, and the brand’s newly launched beauty and personal care range. It features FabIndia’s signature bright white and natural wood store designs with central islands for its various clothing collections.

The store launched with the brand’s latest ethnic collection ‘Kachha Aam’, designed for summer 2022. Inspired by nostalgic summer memories of landscapes of bright mangoes, the collection mixes mango yellow with fresh whites and leaf greens for loose kurtas and sets for both men and women. FabIndia recently launched a kidswear range named ‘FabKids’. The range offers homeware designed especially for children up to age nine, from bed linens in whimsical prints to camping play tents, cushions, dolls, and rugs.

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W opens largest experiential store in Bengaluru

The store also houses W’s ‘Folksong’ line of handcrafted products as well as its ‘Wishful’ premium occasion wear line. It features the brand’s western wear line with a range of Indian designs translated into western garments.

CNS Clothing Co’s women’s wear brand W has expanded its retail network in India by opening its largest experiential store in Bengaluru. The store sells W’s full range of apparel, footwear, cosmetics, and jewelry. It showcases the brand’s new, unconventional and chic identity. The store also houses W’s ‘Folksong’ line of handcrafted products as well as its ‘Wishful’ premium occasion wear line. It features the

brand’s western wear line with a range of Indian designs translated into western garments. It also offers a plus size range from the brand. W is owned by TCNS Clothing Company, a designer, manufacturer and retailer of a wide portfolio of women’s apparel brands. The company retails its products through over 600 exclusive brand outlets, over 2,000 large format store outlets, and in 1,000 multi-brand outlets. It also has a number of international stores in countries including Nepal and Sri Lanka.

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Wrangler launches first store in Mumbai

It launched a special collection on the 75th anniversary of Wrangler globally. The brand also offers a curated ‘Traveler Collection’ comprising denims for its adventure-ready and thrill-seeking customers

conic American denim brand Wrangler launched its first store in Mumbai at Linking Road. This is the brand’s 39th store in India. Spread across 950 sq ft, the store sells jeans, T-shirts and shirts. It launched a special collection on the 75th anniversary of Wrangler globally. The brand also offers a curated ‘Traveler Collection’ comprising denims for its adventureready and thrill-seeking customers. The collection includes black hooded T-shirts, unisex tank tops and T-shirts in black and white

colors as part of the ‘Pride Collection’ launched to support the LGBTQIA+ community. To mark Wrangler’s 75th anniversary, the store will give away 75 T-shirts to the first 75 customers. The store’s design provides customers with an immersive brand experience across fit and styles. Its design resembles a contemporary hangout that showcases denim culture through lifestyle presentations, rich storytelling and interactive touchpoints.

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Adidas opens huge store in Bengaluru

One of the striking features of the store is the ‘Sustainability Wall’ made up from electronic waste displaying the brand’s End Plastic Waste logo.

he largest store of sportswear brand Adidas was inaugurated by athlete Nikhat Zareen in Bengaluru recently. The 6,500 sq. ft, threestorey store offers both online and offline shopping services and features Adidas’ complete range of clothing and accessories for running, training, sportswear, football, basketball, golf, tennis and outdoors for men, women and children. Sunil Gupta, Senior Brand Director, says the store provides a global shopping

experience to the brand’s consumers besides offering them a glimpse of the brand’s experiences zones, digital touchpoints and sustainability initiatives. One of the striking features of the store is the ‘Sustainability Wall’ made up from electronic waste displaying the brand’s End Plastic Waste logo. The logo reflects the brand’s commitment to sustainability. Other features of the store include a children’s activity area, an exclusive football floor, and a gaming inspired lounge.

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Anita Dongre launches MBO in Mangalore

This store is a one stop fashion destination for every woman and girl. Spread across 2,000 sq.ft, it offers the sophistication of western wear with AND and AND Girl, to lending an ethnic look a vibrant touch with Global Desi and Global Desi Girl.

ndia’s leading fashion house The House of Anita Dongre launched its multi-brand flagship store in Mangalore’s premium FizaBy Nexus Mall on the upper ground floor. This store is a one stop fashion destination for every woman and girl. Spread across 2,000 sq.ft, it offers the sophistication of western wear with AND and AND Girl, to lending an ethnic look a vibrant touch with Global Desi and Global Desi Girl. It’s a new

fusionwear brand that caters to a young market looking for ethnic styles at a budget-friendly price. Each brand harbors its own distinct persona fulfilling every fashion need. The store has been launched in partnership with Shoppin group which runs several other apparel retail stores across the city of Mangalore. Shoppin group has always brought the cutting edge of Indian fashion to the Mangalore market and is now proud to partner with The House of Anita Dongre.

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Cantabil reaches milestone of 400 stores

Vijay Bansal, Chairman & Managing Director, says the brand aims to stay on the same strategic path involving higher penetration and presence in new locations pan India.

stablished in 1989, Cantabil Retail has achieved its milestone of 400 stores with the opening of a new store in Hajratganj, Lucknow. Vijay Bansal, Chairman & Managing Director, says the brand aims to stay on the same strategic path involving higher penetration and presence in new locations pan India. The company’s employees, store staff and customers have greatly contributed in achieving this milestone.

Cantabil Retail India is involved in designing, manufacturing, branding and retailing of apparels under the brand name of Cantabil. The company has a network of 400 exclusive retail outlets across India. The company started garments manufacturing and retailing business in 2000 and opened its first Cantabil store in September 2000 in New Delhi. The Cantabil brand offers a complete range of formal-wear, party-wear, casuals and ultracasual clothing for men and women in the middle to high income group.

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Tasva opens a store in Bengaluru

A joint venture between designer Tarun Tahiliani and the Aditya Birla Group, brand Tasva is designed to offer premium traditional wear at more affordable prices.

en’s occasion wear brand Tasva has expanded its retail presence by opening a new store in Bengaluru. The store has a large glass façade. Its interiors are painted in while and gold with a marble floor and geometric patterned details and has a number of sealing areas for shopping. The store houses Tasva’s entire selection of menswear and accessories, with dedicated sections for suits, hats, footwear, and more.

Tasva opened its first ever store in Bengaluru after launching in 2021. The brand has since opened numerous stores this year, including its second most recent launch in Hyderabad’s Jubilee Hills in May. A joint venture between designer Tarun Tahiliani and the Aditya Birla Group, brand Tasva is designed to offer premium traditional wear at more affordable prices. The brand specialises in men’s wedding suits and accessories, designed with couturier Tahiliani’s signature take on heritage opulence.

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Go Fashion widens store presence

hennai-headquartered Go Fashion (India) plans to increase its store presence across the country by setting up new EBOs in Tier II and III cities and strengthening offline retail presence in the northern and eastern markets. Go Fashion has an over 8 per cent market share in the women’s bottom wear segment. The company is engaged in development, design, sourcing, marketing and retailing of a range of women’s bottom wear products under the brand Go Colors.

In FY22, the company added 54 exclusive brand outlets, to cross the 500 store milestone. The brand also has a strong presence in large format stores such as Reliance Retail, Central, Pantaloons and Unlimited, among others. Currently, 58 to60 per cent of Go Colors’ exclusive stores are located in Chennai, Bengaluru, Hyderabad, Mumbai, Pune, Ahmedabad, Delhi and NCR. It plans to add 150 stores every year, says Gautam Sarogi, CEO. According to Sarogi, the company’s online channel witnessed traction after the pandemic-led restrictions. It now accounts for 3 per cent of total sales and the company is plans to grow this to double digits in the next few years.

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Jaypore opens second store in New Delhi

Jaypore’s recently also opened a store in Lower Parel, Mumbai. It had already opened another store in the Pheonix Palladium Mall in March this year.

ashion and lifestyle brand Jaypore has opened its second brick-and-mortar store in New Delhi. Located within DLF Avenue mall in Saket, the new store houses the brand’s full range of men’s and women’s traditional wear as well as accessories, jewelry, homeware, and other goods. The bright, warmly lit store is colored in gold accents with a cream background. It features ornate carved display tables throughout.

The brand’s store in DLF Avenue is located alongside other Indian and international labels including Fossi, Melorra, Nautica, Replay, Tanishq, Vero Moda and Meena Bazaar. Jaypore’s store is located on the first floor of the mall. DLF Avenue was previously DLF Place Saket and was revamped as DLF Avenue with a new look, new brands, and curated spaces in a `100 crore transformation in 2020. Jaypore’s recently also opened a store in Lower Parel, Mumbai. It had already opened another store in the Pheonix Palladium Mall in March this year.

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Forever 21 opens flagship in Hyderabad

The clothing brand operates as a licensee brand of Aditya Birla Fashion Retail Limited in India and the SAFTA countries.

os Angeles-based Fashion Brand Forever 21 based in Los Angeles has launched its flagship store at the Sharat City Mall in Hyderabad. The clothing brand operates as a licensee brand of Aditya Birla Fashion Retail Limited in India and the SAFTA countries. Its new store offers the latest global trends in comfort clothing. Spread across 4,218 sq. ft. at Sarath City Capital Mall, the store presents trending styles featuring a women’s wear

collection including fitted dresses, bodysuits, super crops, co-ords, jackets, satin and handkerchief tops, pop-colored accessories, and footwear and menswear collection ranging from graphic tees, cargoes, denims, shorts, and printed shirts. According to Mukesh Soni, Business Head (India), Forever 21, Forever 21 brings the newest runway and catwalk trends from Los Angeles to young fashionistas at Forever 21’s hallmark sweet prices.

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Trends opens new store in Kerala

eliance Retail-owned apparel and accessories specialty chain Trends has opened a new store in Alappuzha district, Kerala. The store will help strengthen the retailer’s reach and connection with consumers in India. Boasting of modern looks and ambience, the store offers an exciting range of good quality fashion merchandise at affordable prices for consumers in the region. The 5,692 sq ft store is the first in Bharanikkavu town

Trends has already opened six new stores across different districts in Kerala including Kottiyam in Kollam; Nooranad in Alappuzha; Beypore in Kozhikode and Kuttipuram, Ponnani and Edavannapara in Malappuram district. The retail store chain has over 777 retail stores all across the nation. It offers fashionable, high-quality clothes for both men and women through an extensive portfolio of Reliance Trends home brands, Indian brands, and international brands. Reliance Trends has also got a strong presence online with the help of Reliance Trends online store on Paytm Mall.

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V-Mart expands retail presence by opening 11 stores

The company has 20 years of experience in providing high-quality affordable fashion. Its retail network spans over 200 stores across 171 towns in 17 states.

-Mart Retail has expanded its retail presence by opening 11 new stores in the April - June quarter of FY 2022-23. The company has opened four stores for its brand Unlimited in South India. These include one store each in Telangana and Andhra Pradesh and two stores in Tamil Nadu. Additionally, the company has opened seven stores across the rest of India, one each in Bihar, Madhya

Pradesh and two each in Rajasthan and Uttar Pradesh. With this, the company’s total number of stores now stands at 391. Founded in 2002, V-Mart is a complete family retail store chain offering apparel, footwear and accessories for men, women and kids. The company has 20 years of experience in providing highquality affordable fashion. Its retail network spans over 200 stores across 171 towns in 17 states.

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The arrival of D2C brands is changing India’s retail scenario

India’s apparel retail ecosystem is changing with the arrival of D2C brands. With growing consumer trust, more and more and D2C brands and companies are mushrooming. Now even big players are jumping in the fray and opening subsidiaries to increase their presence, finds out Team DFU

ovid has changed shopping behaviours across the globe with consumers adapting to online shopping. They began trusting e-commerce market which exploded with delivery platforms and marketplaces witnessing new-user growth of 50 per cent. The decade 2021-2030 is likely to be one of D2C brands with business outsizing 75 per cent market share of e-commerce spending and sales likely to touch $300 billion. A clutch of D2C brands like Clovia, Atomberg, Furlenc are

• The D2C market is likely to reach $100 million by 2026 • ABFRL is building a portfolio of D2C brands across fashion, beauty and allied lifestyle segments • The ‘White label concept by Eastman Brands allows companies to rebrand product made by another companies • AN Associates’ initiative Pop Station nurtured start-ups, brands and private through their unique apparel journey

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The D2C model does away with middleman barriers such as wholesalers, retailers or distributors and offers better prices and faster delivery times with higher profits. These brands have a complete control and autonomy over the placement, pricing and promotion of their products.

attracting significant attention and investments as they keep growing.

Inspiring conglomerates with new age approach The current D2C market in India is being driven by Gen Next enterpreneurs who are inspiring traditional conglomerates with their New Age approach. Big companies like the Tata group and Reliance group have announced plans to launch super apps while the Aditya Birla Group plans to increase focus on D2C and e-commerce space. Aditya Birla Fashion and Retail (ABFRL) is looking to set up a new subsidiary for building a portfolio of New Age, digital brands (D2C) across fashion, beauty and allied lifestyle segments. It has launched ‘House of Brands’ business, TMRW to roll out and back digital businesses. TMRW is looking to create a portfolio of fashion and lifestyle brands by acquiring and incubating over 30 brands in the next three years. The format also enables multiple founders to operate within its ‘house of brands’ platform that share a common vision and capabilities, as shared by the company. Meanwhile startups ike Globalbees, Mensa Brands, Thrasio, Good Glamm Grup, GOAT Brand Labs will join ABRFL to build a new brand portfolio, says Ashish Dikshit, Managing Director Adidas has also introduced the endless aisle technology that allows consumers to search, review and purchase their products with convenience. The brand has launched an omnichannel program Adidas Neo that provides millennials and Gen Z shoppers to a technology-enabled user interface of digital platform within its store to enhance their overall buying experience.

Eliminating barriers D2C fashion brands serve customers across all marketing channels. This model does away with any middleman barriers such as wholesalers, retailers or distributors and offer better prices and faster delivery times with higher profits. D2C brands have a complete control and autonomy over the placement, pricing and promotion of their products.

D2C also enables fashion brands to utilize new technologies to boost brand-customer relationships and bridge the supply-demand gap. For example, the digitally immersive store introduced by premium lifestyle brand Van Heusen helps enhance the fit and fashion experience of shoppers. It offers everything from styling tips and virtual trial mirrors to ‘fit scanner’ enclosures that measure through infrared devices. It enhances the overall of shopping journey of consumers and enhances their style quotient.

Optimizing ROI through omnichannel To reach their target consumers in creative ways, D2C brands are leveraging the services of social media influencers. They are also adopting the omnichannel model to optimize marketing ROI and offer better pricing to boost brand engagement and encourage repeat purchases with long-term loyalty. Many new small and medium-size D2C players are entering apparel retail segment. However, only a few have the resources, detailed know-how to invest in design development, team building, raw material sourcing and manufacturing. These companies

have managed to get the support from apparel manufacturing companies that have generated all the strengths and abilities to manage the entire process – even for smaller orders – for these new retail players, making it a win-win situation for all. Eastman Brands, the division of Eastman Exports Global Clothing, Tirupur has introduced the ‘White Label’ concept for the apparel segment, D2D (Design-to-Delivery) and D2C (Direct-to-Consumer). The concept allows a product or a service produced by one company to be rebranded by the other companies to make it appear as if they have made it. Companies looking to enter apparel trade with their label or a start-up just have to share their vision, design concept or basic information like their thoughts, target customers and requirement. The label or start-up has to focus on its strengths. Services ranging from sizing to tech pack, selection of raw material to manufacturing to the final step of delivery will be taken care of by Eastman Brands. Currently Eastman Brands offers T-shirts, polos, sweats, joggers and shorts and would soon launch shirts, jackets, blazers, trousers, jeans, caps, wallets, socks and sneakers, etc. Another company from Tirupur, AN Associates has launched an initiative known as Pop Station to nurture start-ups, brands and private through their unique apparel journey,

68 FEATURES The current D2C market in India is being driven by Gen Next enterpreneurs who are inspiring traditional conglomerates with their New Age approach. Big companies like the Tata group and Reliance group have announced plans to launch super apps while the Aditya Birla Group plans to increase focus on D2C and e-commerce space. says Niket Lulla, CEO. The company offers an entire range of knitted garments, especially kids wear, products made from sustainable materials like bamboo, hemp etc. Another established manufacturer, Desert Crafts has a good client base with order quantities growing by the months with prestigious domestic brands, designers as well as renowned overseas clients. The company has a variety of clients who order 2,000 -5,000 pieces per style in the organised retail sector. It currently produces around 8,000-10,000 pieces per month and plan to increase to 40,00045,000 pieces per month in the six months.

Enables new brands to launch products Stakeholders believe, the D2C segment offers huge opportunities for emerging brands and suppliers. It enables new retailers or brands and labels to launch their products as no big product development, lead times and investment are required. S Kannan, CEO, Eastman adds, ‘small order quantity’ concept is going to be massive business in next few years and the company is trying to cater to this segment as soon as possible. Ensuring small orders remains a problem for nearly all the brands and start-ups and for that they keep searching for manufacturers/vendors who can support them, work with small factories

which are ready to take small quantities. As small factories can’t do much product development for difficult styles, in such cases, factories that are capable of doing such products should be paid a premium. Established D2C brand Bewakoof. com, and emerging innerwear brand Almo are also good examples of how time-order quantity has increased. Product category also matters in case of smaller orders like Bewakoof.com focuses on T-shirts since it is comparatively easy to source and has fewer issues like fit. Working on long-term relations, the brand now has a reasonable size of orders. Its monthly order size varies from 5,000 pieces in fashion to one lakh pieces in core product categories. But still, it works with a few vendors having 50 stitching machines. Keeping itself updated on manufacturing practices and latest technology also adds value for such brands and start-ups and helps to get small orders. This is also a reason why Bewakoof.com’s team often visits apparel technology events.

Biggest retail drivers With an expected market size of $100 million by 2026, D2C brands are expected to be the biggest drivers of retail market. In 2021, these brands clinched around 174 deals to raise $1.81 billion capital. This not

only resulted in the creation of thousands of new brands but also gave enablers and digital sellers new growth opportunities by launching new disruptive models such as ecommerce roll-ups, houses of brands, etc. The first D2C Fulfilled by Amazon (FBA) brand was acquired by US-based Thrasio. The concept was later popularized by other models set up by Nykaa, GlobalBees, Mesa Brands, etc. In 2022, Mensa Brands acquired Florona, an aromatherapy D2C, Estalon, a Kolkata-based leather brand and TrustBasket, a gardening startup. Now, the D2C space is being coveted by even e-commerce majors like Flipkart which has launched the Flipkart Boost program for these brands. Last January, Amazon India also introduced the Amazon Global Selling Propel (AGSP) Accelerator with around 10 startups. Through its D2C foray, Aditya Birla Fashion aims to become not just a marketplace or a platform for brands but also facilitate brand-building and provide consumers with best products at affordable prices. An expert in building brands, it plans to focus on building distinguished brands for consumers. In fact, the brands recently acquired by ABRFL for its D2C foray have already raised investments worth millions form VCs. The company plans to use these funds for expansion over the next 1218 months. It will raise external funds once it manages to scale up its D2C operations.

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Brands clamour as rising inputs costs compel apparel price hike

Rising raw material prices and lower margins have forced most apparel brands to raise prices for their summer launches. The situation is not expected to relent in the near future with inflation still being high, finds out Team DFU

ven as a GST rate hike for textiles and apparels did not come up in the latest GST Council meet, consumers in India are still shelling out extra bucks for branded clothes due to rising inputs costs both within the country and globally. In fact, most brands had already started increasing prices of their collections with the launch of winter collections others did so as they launched their summer merchandize in April. Their common bane has been margin pressures due to ever increasing raw material prices, especially cotton. As Yuvraj Arora, Partner, Octave Apparels opines, since raw material prices have increased almost 70-100 per cent, they were compelled to increase their MRPs by around 15-20 per cent. The brand had increased their MRPs for the winter collection as well by 10 per cent and the same path was followed for summer collection. On similar lines, Numero Uno increased prices by 5-10 per cent, while women’s clothing

• Summer collections of all brands this year was 15-20 per cent costlier • Cotton price rise has affected on apparel makers • Brands tried absorbing some prices post lockdown opening • Brands looking at further hike in prices for winter collection

brand Madame hiked up prices 11-12 per cent, with the launch of summer collections. As per industry association Clothing Manufacturers Association of India (CMAI) estimates, summer collections for all brands this year was expected to be 15-20 per cent costlier. Some months back, CMAI had said, brands, particularly those selling in the lower price range may tweak their product quality to reduce the price rise. But, they will not be able to completely avoid it.

Absorbing costs not a long term solution For long, apparel brands were reluctant to pass on the higher cost to consumers due to sluggish demand post Covid lockdown retail opening. While they were still trying to absorb the increased input costs in their margins for many of lower-end products, they were compelled to increase prices 5-10 per cent due to various other factors at play. Rising inflation took a toll of retail and brands had to take a decision to pass on the cost to

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consumers. While few apparel makers were of the view there is a need for government intervention in order to control prices of the raw materials etc, others felt factors are mostly external. The price of cotton in India has been moving in accordance with global prices and demand. With sanctions by the West against China, there has been an increase in demand for cotton from India. Companies operating in the export market started exporting most of their stock since they are getting better prices in the export market.

Why apparel prices are rising The current rise in apparel prices is mainly attributed to the sharp spike in cotton prices amid tight global supplies, coupled with high demand in international markets. Cotton prices have been bullish for over a year, much to the woe of fashion retailers. Add to it the way inflation has escalated around the world, it has generally affected demand for clothes. Consumers’ purchasing power in the international market too is low. In Europe and America, inflation recently reached a severe level. In some Western countries, the price of commodities has set records in the last three-four decades. The US and the UK now witness the highest inflation rate after 1982. Meanwhile, apparel makers are struggling to survive due to rising production costs, hurdles in the supply chain, crisis of raw materials, and hike prices of utilities. In Bangladesh, a major supplier of clothes to the world, the cost of garment production has shot up as prices of raw materials have gone up sharply. The cost of garment production has increased by 30 to 35 per cent in the last few years.

Further price hike in the offing Even though several retailers had hiked prices in December before launching their summer collections, given the steep rise in cotton prices, a key input, these players

Most brands had already started increasing prices of their collections with the launch of winter collections others did so as they launched their summer merchandize in April. Their common bane has been margin pressures due to ever increasing raw material prices, especially cotton. For long, apparel brands were reluctant to pass on the higher cost to consumers due to sluggish demand post Covid lockdown retail opening. While they were still trying to absorb the increased input costs in their margins for many of lowerend products, they were compelled to increase prices 5-10 per cent due to various other factors at play.

are looking at further hike in prices. Fashion retailers like Shoppers Stop, Celio and Arvind Fashions are looking to push up prices given the unabated rise in cotton prices, a worry for the industry as whole for over a year. As Kulin Lalbhai, Director, Arvind Fashions and Executive Director Arvind Limited points out input costs have climbed significantly and they have no choice but to pass on the increase. Lalbhai says they are taking measures to be cost-efficient but cannot absorb the entire cost. Similarly, menswear retailer Celio also indicated it would increase prices ahead of the launch of next winter collection. Satyen Momaya, CEO, Celio India says, if cotton prices remain as volatile as they

are today, then a 5-6 per cent price hike is in the offing, which will be in line with inflation. Several apparel retailers had hiked prices in the range of 5-15 per cent towards the end of 2021 as they struggled with high cotton prices.

Departmental-store chain Shoppers Stop, for instance, had hiked prices 10-12 per cent. The company’s MD and CEO Venu Nair recently indicated they might consider another round of price hike. What’s more casual wear clothing such as denim has a large cotton component, sometimes as high as 50 per cent in value terms. Other clothing products like T-shirts have 40-50 per cent of cotton; innerwear has 10-20 per cent. Hence, a surge in cotton prices has a direct impact on these products. Interestingly, despite the price hikes, demand for apparel has remained strong, retailers say. As Nair opines, they had increased prices in October 2021 and did not seen an impact on demand in the premium to mid-premium segment. Arvind Fashions, which hiked prices in February 2022, did not see a dent in demand because of the increase. The companies, however, have seen a demand dip in the value segment. Indeed, apparel manufacturers dauntlessly passed on their input costs to consumers. In the months of April and May, apparel inflation was as high as 10 per cent as compared to the year before. Still, it had no effect on sales. “Despite various headwinds, fashion retailers displayed a resilient show with demand picking up pace and half of FY22. Revenue recovery rate for most apparel and footwear players surpassed preCovid levels (100- 105 per cent) from Q3FY22 onwards,” said a report by ICICI Securities. The report further stated, as per Retailers Association of India (RAI), sales momentum has continued to sustain with 23 per cent and 24 per cent revenue growth in April and May, respectively (compared to 2019 levels). “We expect apparel and footwear retailers to demonstrate strong traction in revenue and earnings growth in the ensuing quarters driven by improved consumer sentiment and enhanced demand scenario for discretionary products.” And in an attempt to cash in on the customer demand revival, retail giants are chalking out big plans to add more stores and spread their retail network. The store addition trajectory improved significantly in the January-March quarter, and companies have a healthy store addition pipeline for the ongoing financial year as well.

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Men’s luxury brands grow by 46% in 2021: Report

he portfolio of men’s luxury brandsgrew by 46 per cent in 2021 compared to the pre-pandemic year of 2019, while that of women’s luxury brands grew by only 14 per cent, shows the 2022 edition of Atlas of Affluence (AOA), a white paper on luxury brand from Reliance Brands(RBL). Fifty-seven per cent of men claimed that their fashion spending has increased.

Sixty-five per cent of non-metro residents buy luxury on a regular basis versus 53 per cent in metros and 52 per cent of respondents keep celebrity endorsements and influencers in the top two ranks for key drivers behind brand affinity, said AOA 2022 created by The Voice of Fashion (TVOF) -- a division of RBL, a daily digital magazine that tracks and leads conversations on Indian fashion, design, crafts and retail. Moreover, 65 per cent of those shopping online mention that they are eagerly waiting for stores to open, said the findings of AOA 2022.

Fifty-eight per cent agree that they have spent more on tech products to curate a futuristic entertainment experience while being stuck at home,” it said. The findings are based on a specially commissioned study across six cities and markets of India. The study was formulated over the last several months through scientifically designed consumer research to understand metro and non-metro differences among buyers, brands and behavioral ideas behind consumption.

IF INSIGHT

Not the right time for global luxury players to enter India, say experts

ndia has always offered a huge potential for global luxury players. This year, the domestic luxury market is set to grow $2.5 billion to touch $8.5 billion, estimates by Euromonitor International. This highlights the great opportunity for global luxury brands frustrated by years of regulatory barriers including high import duties. The market has attracted brands like Valentino and Balanciaga to launch in India, following the footsteps of Louis Vuitton who entered India in 2002 followed by Tommy Hilfiger in 2003. Over the years, Gucci, Bottega Veneta and Burberry have all forayed into the Indian market.

domestic market. One of the first multi-brand concept stores to launch in India, Le Mill, opened in Mumbai in 2011. The store stocked labels like Isabel Marant, The Row and Anya Hindmarch. It also introduced brands like Dries, Van Noten, Rosie Assoulin and Zimmermann besides launching superbrands like Saint Laurent and a few selected Indian brands. Before the pandemic, Le Mill hosted popup in other cities and planned to set up a permanent store in Delhi. However, now, they plan to focus on e-commerce, and recently launched a new website.

Opportunity for independent luxury brands

Premium international brands often find it difficult to balance their physical and digital operations in India. Launched in 2009, Aditya Birla Group’s The Collective provides a

India also offers an opportunity to independent luxury brands to sell in the

Platform for ‘phygital’ brands

platform for brands offering both options to customers. The multi-brand platform retails over 85 brands through stores in 11 cities and e-commerce. It helps consumers improve their interaction with premium brands, says Amit Pande, Brand Head. One of the first brands to launch on the platform, The Kenzo has been a consistent bestseller with around 30 per cent of its sales in India being online. The largest player in the luxury market in India, Reliance Brands (RBL) has partnered over 60 luxury brands including Tiffany, Burberry and Giorgio Armani, among others. Last year, they launched an own e-commerce platform Ajio Luxe with 265 brands. These brands reflect the consumers’ personality unlike mainstream luxury brands, notes Sumeet Yadav, Group Vice President Reliance Brands. In 2019, RBL launched a multi-brand concept store, The White Crow (TWC) for Tier II cities. The first 8,000 sq. ft. TWC store opened in Ahmedabad with a curated collection of around 44 brands, ranging from Salvatore Ferragamo to Kate Spade. TWC currently has stores in eight cities. In 2021, RBL opened a mega mall, Jio World Drive spread across 17.5 acres in Bandra Kurla Complex, Mumbai. It houses international and Indian brands including a TWC pop-up. The brands in the store are rotated regularly. This helps customers experience the brand in a luxury environment, opines Yadav. Touch is an important factor for Indian consumers while shopping for clothes. They appreciate being able to touch the clothes, which can only happen at a physical store, believes Morelli Parikh, Co-founder, Le Mille. And multi-brand retailers need to focus on growing their operations phygitally. This will help them offer the best of both worlds to international niche brands, he adds.

Consumers opt for ‘sophisticated’ products

Moving beyond logos, Indian consumers have started appreciating true luxury. The pandemic has caused Indian consumers to appreciate real craft, says Yadav. Consumers, especially young buyers, are opting for more sophisticated products. As their tastes mature, they will create more opportunities for niche luxury players like Le Mill, The Collective and RBL’s Aijo Luxe and The White Crow. However, till then, the possibility seems a bit far-fetched, sums up Anouck Duranteau-Loeper, CEO, Isabel Marant.

74 IF INSIGHT

Big corporates need to retain core value of acquired designer brands to stimulate growth

rand acquisition seems to be the flavor of the day for Aditya Birla and Reliance Group, two of India’s prominent business groups who have recently invested in designer brands like Manish Malhotra, House of Masaba, Tarun Tahiliani, Sabyasachi, and Anamika Khanna. Both groups seem to be more inclined towards luxury brands, though they have also invested in a few premium ones, says an Inventiva report. And as per Mahesh Singh, Founder and Managing Director, Singhi Advisors these acquisitions will give Reliance Brands and Aditya Birla Fashion and Retail (ABFRL), a chance to expand their product lines while offering the designer brands an opportunity to open more stores, introduce new products etc.

Steady growth for fashion industry Indian fashion industry has been growing at a steady rate despite a curb on weddings due to the pandemic. As per the market research company Euromonitor International, Indian fashion market is expected to grow at a CAGR of 15 per cent from 2021 and 2026. Both Reliance Brands and ABFRL have been trying to get a piece of this growth pie. For

the last few years, they have strengthened their position through new acquisitions and partnerships. For instance ABFRL invested in the House of Masaba to boost its beauty and personal products range. The acquisition helps the company acquire a well-known brand and its well-established consumer base. Through these acquisitions, both these groups plan to widen their price range to include consumers from all social and economic strata. For instance, ABFRL offers a mix of brands like Van Heusen, Allen Solly, Jaypore and Sabyasachi Couture for women.

Widen products and market reach Such collaborations benefit designer brands by allowing them to sell and distribute products across the world through big companies. They help brands consolidate their market position and unlock some value. Meanwhile, conglomerates like ABFRL and Reliance Retail are able to offer more choices in clothes, points out Aditya Chaudhury, Partner, Argus Partners. Investing corporate money into designer clothing industry also offers more expansion opportunities to designers. For instance, known for its bridal lehengas, Sabyasachi Couture launched its jewelry line in

2017. The designer brand also launched a fast fashion range in August 2021 in collaboration with H&M. Designers can also explore new markets by introducing an affordable clothing or jewelry range. This ensures their clothes are bought by more number people.

Build omnichannel networks Brand acquisition by corporate houses also helps them build omnichannel networks and adopt a direct-to-consumer approach. For instance, the strategic purchases of Genesis Luxury and Brooke Brothers helps Reliance form partnerships with Burberry, Coach, Jimmy Choo, Diesel, Kate Spade, Michael Kors, Steve Madden, etc. However, corporate acquisitions aren’t limited to luxury brands alone as affordable brands like Clovia, was bought by Reliance for ten times its sales this year and Amante for the same amount in 2021. Similarly, ABFRL bought Phillipe, Van Heusen, Allen Solly, Peter England, Forever 21, etc. Both groups prefer to buy brands rather than make them. To sustain their growth momentum, they need to widen their price range to serve a wide range of consumers. They also need to retain the core value of couture brands while growing them.

IF INSIGHT

Indian lingerie brands combine comfort with style to meet growing demand

itherto an ignored consumer segment, plus size female consumers are finally getting the attention they deserve from brands and lingerie retailers. A survey by the lingerie brand Groversons has revealed, the rise of online lingerie retail is boosting the market for plus size lingerie in India. A study by IMARC projects, the lingerie market in India will grow at 13.13 per cent CAGR between 2022 and 2027. The market will experience significant growth in coming years, the report states.

Experimenting with new styles Earlier, it was difficult for plus-sized women to find the right fit, design and quality. However, with growing online retail, customers can now avail lingerie in a wide range of sizes, textures, designs, colors, and fabric, opines Siddarth Grover, Director, Groversons Group. Indian women welcome lingerie as an accessory that boosts their confidence making them more attractive, says a report by the Daiji World. Plus size women are embracing their curves as a part of their personality and experimenting with different styles, shapes, colors, and textures. Industry leaders need to create awareness about new lingerie styles and be size inclusive in their offerings, Grover points out.

Meeting diverse requirements At times, it is difficult for to get intimate clothing that is not just comfortable but also fashionable. They frequently have to compromise with the limited styles available in the market. The problem gets compounded for plus-size women with limited number of sizes. However, the lingerie market in India is rising to cater to diverse requirements of customers. It is combing comfort with style to meet the growing demand of plus-size women customers in India.

Indian retail sector to witness accelerated earnings growth, say analysts

ndian retail sector is likely to witness accelerated earnings growth despite rising inflation as consumer sentiments and discretionary purchases bounce back from COVID-19 pandemic. Sector growth will be boosted by a shift in consumer preferences from unorganized to organized sector coupled with rising domestic demand, says Nishit Master, Portfolio Manager, Axis Securities. Mall footfalls Tier II cities and standalone stores are growing with increasing consumption levels. Retailers are also expanding stores as sales recover to pre-pandemic levels. Aditya Birla Fashion and Retail (ABFRL) plans to set up around 400 stores in their ‘Lifestyle’ format while Shoppers Stop plans to set up 12 to 13 new department stores. Analysts at Phillip Capital opine, mall-based retailers like Shoppers Stop and Pantaloons could grow relatively faster in the first half of FY23. Gaurav Dua, Head-Capital Market Strategy, Sharekhan - BNP Paribas, says, domestic players like Trent, ABFRL, and Bata India will perform well in the coming quarters driven by strong domestic demand. However, Indian retailers will continue to remain pressured by a rise in freight and power costs due to increase in crude oil prices and disruptions in supply chain dynamics, adds Dr VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services. To offset margin pressure emerging from high input costs and inflation, companies like Westlife Development, V-Mart Retail, and Devyani International hiked prices in the range of 6 to 11 per cent in April 2022.

76 BUSINESS NEWS Sales rebound for retailers

India and complement its lifestyle and homedécor categories. It is the latest in the series of investments by the e-commerce platform to boost its product range. The firm recently acquired and made various investments in skincare brand Earth Rhythm, wellness brand Nudge Wellness and women’s sportswear brand Kica. Nykaa also plans to acquire Times Internet-owned men’s lifestyle brand MensXP. The e-commerce platform has been raising funds for these acquisitions since 2019.

Woodland to grow by 20% this year

sharp rebound in sales is expected to increase revenues of apparel retailers by 20 per cent rise in FY23. Retailers are benefiting from pent-up demand coupled with recurrent weddings, and the onset of the first full-fledged academic year post pandemic, says Charath Narasimhan, Managing Director, Indian Terrain Fashions. The push towards return-to-work is also driving sales leading to many retailers expanding their store network in smaller cities, adds Narasimhan. His company closed about 25 outlets during the pandemic but opened about 70 stores in different cities, taking the total number of stores to 210. The Chennai-based company plans to open 25-30 more stores in the next six months. The new generation of buyers prefer to buy clothes online, he adds. Indian Terrain has opened an online window to cater to this need, Narasimhan informs.

Vedant Fashions’ revenues increase The revenue of Manyavar owner Vedant Fashions is expected to rise on an average 20 per cent during the three financial years from FY 2022-25. Growth will be driven by steady return ratios, FCF generations and scaling of new brands. Largest Indian wedding and celebration wear player Vedant Fashions is well-known for the Manyavar range of men’s wedding and celebration wear. The brand has steadily expanded its share of men’s celebration wear market, offering huge growth opportunities for Vedant Fashions. Growth is driven by franchisee-operated EBOs. The company had 595 EBOs as of March 2022 covering 223 cities and towns in India as well as 12 international locations. It enjoys strong relationships with vendors as well as 300+ franchisees who invest in the EBOs. The flagship brand Manyavar constituted 84.2 per cent of sales in FY2021.

Federation of Indian Export Organizations (FIEO) and the Apparel Export Promotion Council. The textile hubs will not just promote textile exports but also create huge employment opportunities, Goyal added. In 1985, Tirupur exported garments worth `15 crores annually. Growing at a CAGR of 23 per cent, exports have reached `30,000 crore in 2021-22. Tirupur’s garment industry employs four crore people across the textile value chain and its current size is `10 lakh crore, Goyal stated.

Nykaa acquires e-commerce platform Little Black Book

Revenge shopping will help homegrown footwear and apparel brand Woodland to grow over 20 per cent and claw back to the prepandemic levels with a top line of over Rs 1,200 crore this fiscal, says Harikirat Singh, Promoter and Managing Director. The New Delhi-based company, which entered the country 25 years ago, is the market leader in the category, selling over 5 million pairs annually. Owned by Aero Club, the privatelyheld Woodland closed FY22 with Rs 1,000 crore in revenues. The company sells its footwear mostly in the premium athleisure range for outdoors, accessories -- including apparel and deos-- and men’s personal wear through Woodland, and super-premium Wood labels through 500 company-owned-and-company operated exclusive stores and over 5,000 multibrand retailers. Almost 50 per cent of the sales come from these exclusive stores, 20-25 per cent from exports, primarily to the UAE and other MENA markets, South Africa, Russia and Canada and the rest from other retailers. Before the pandemic, the company had 600 exclusive stores. It plans to add 20-25 stores this year.

Taneira to double turnover Taneira, a women’s ethnic apparel brand from Titan Company, aims to double its current fiscal year turnover of `300 crore to `1,000 crore by FY27.

Online beauty and fashion marketplace Nykaa is acquiring the Chriatae-backed fashion e-commerce and discovery platform Little Black Book. As per a Tech in Asia report, the deal will strengthen Nykaa’s content creation in

Government to set up 75 textile hubs The Indian government plans to set up 75 textile hubs like Tirupur to support textile exports, said Piyush Goyal, Union Minister of Textiles addressing a exporters’ meeting in Tirupur. The meeting was organized by the

The brand will predominantly focus on the sari business which is a Rs 50,000 crore market growing at a compound annual growth rate (CAGR) of 6-8 per cent.

BUSINESS NEWS

Cantabil Retail eyes Rs 1,000 crore revenues in three years

pparel and lifestyle brand Cantabil Retail aims to be a Rs 1,000 crore revenue company over the next three years, says Deepak Bansal, Director. The retailer presently has 378 stores across the country and plans to add over 80 stores per year in future, adds Shivendra Nigam, Chief Financial Officer. In the last quarter, Cantabil Retail recorded sales worth Rs 133 crore. The brand also registered Rs 383 crore sales on an annual basis. Cantabil’s profit after tax (PAT) was Rs 38 crore. Nigam told Economic Times, over the last year for many months, they recorded the highest sales and have the same plans for the company in future. The brand is present across India except in South India. Its core presence is in North India, followed by Maharashtra, Gujarat and the Eastern part of the country. In future, it plans to expand across all three regions by adding over 80 stores this year. In all, it plans to add 300 new stores over the next three years.

The company has 25 stores across Delhi, Noida, Hyderabad, Bengaluru, Mumbai, Pune, Chennai, Jamshedpur, Vadodara, Lucknow and Kolkata. It is in process to increase the number to 50-60 stores by this year and over the next 3-4 years it will be further ramped up to 125 Taneira retail stores that will cover the majority of tier-I and tier-II cities. Now, it will focus more on franchisee stores. Currently, half of the retail stores are company-owned In future, the company is planning to open overseas stores in markets having Indian diaspora like the US. The brand stores emphasize on Indian diverse textiles and workmanship under one roof for the finest and unique handcrafted ethnic wears like sarees, kurtas and other apparels. The brand stores emphasize on Indian diverse textiles and workmanship under one roof for the finest and unique handcrafted ethnic wears like sarees, kurtas and other apparel.

ICRA revises long-term rating for V-Mart Retail Rating agency ICRA has revised the longterm rating for V-Mart Retail at [ICRA]AAand short-term rating at [ICRA]A1+ for the captioned line of credit.

The outlook on the long-term rating has been revised as positive from stable. The rating agency has reviewed total bank facilities worth `195 crore. This includes long-term facilities worth `132.43 crore, short-term facilities worth `16.57 crore, and unallocated facilities worth `46 crore. The revision in the outlook on V-Mart Retail long-term rating takes into account ICRA’s expectation of healthy growth in turnover and sustained improvement in profitability, driven by continued network expansion, recovery in sales per square foot from the pandemic impact, and profitable ramp-up in operations of the Unlimited stores acquired in FY22. This, along with calibrated expansions and low reliance on debt, is expected to keep the company’s financial risk profile strong, with a conservative capital structure, strong liquidity profile, and robust debt coverage metrics.

BSL targets `900 crore in sales by 2023-24 A legacy brand and one of the most prominent players in the textile business, BSL plans to grow sales to over `900 crore by 2023 -24 up from the current `440 crore. BSL delivered robust performance in the FY ended March 31, ’22 with a PAT of `11.48 crore and operating profits of `4143 crore. The company has a global presence in over 50 countries along with a pan-India presence and expects its sales to grow by 30-40 per cent Y-o-Y with a quantum jump in the bottom-line. For the past decade, IKEA has been a major business and growth driver for the company, and this

business is likely to continue to grow. BSL is IKEA’s sole provider of furniture fabrics from South Asia and its products are sold in all 450 IKEA stores around the world. Nivedan Churiwal, Managing Director, says the company’s business grew across all segments in the domestic and export market. It was able to pass on the prices to customers and deliver good results. It expects all its segments to grow and turnover to reach `600 crore with a healthy bottomline. BSL plans to establish cotton spinning units with an investment of `200 crore. The facility will have 30,000 spindles and generate 700 tons of cotton yarn every month. This project is scheduled to begin in December 2022. The remaining funds will be used to expand the company’s PV spinning, weaving, and processing capabilities.

Go Global Retail acquires Brums Milano

Go Global Retail has acquired Brums Milano, a premium kidswear brand, having over 150 corporate and franchise stores in Italy besides a strong online presence, offering apparel, footwear and accessories. Brums is also sold at La Binacente and via 300 independent wholesale locations across Italy. Founded in 1951, Preca Brummel SpA is a well-known Italian children’s wear company. Based in Varese, Italy, the company designs, markets and distributes children’s apparel and accessories under the Brums and MEK banners. Brums is a classic Italian brand that has created lasting memories for generations of customers. Its focus is on elevated fabrics with clean designs and fine details in sizes from newborn to teen. Brums Milano will continue to be based in Greater Milano. Go Global will invest in Brum’s digital capabilities including artificial intelligence and predictive analytics. As a portfolio brand on the Janie and Jack platform, Brums Milano will initially focus on its core customers in Italy, with their modern take on children’s fashion, and a commitment to sustainable product development and designs. In this acquisition, Go Global will leverage back office synergies for technology, e-commerce, digital marketing, sourcing, and raw material collaboration for the two companies, creating a global premium children’s wear platform.

78 BUSINESS NEWS Brands, retailers cautious about price hike

etailers and apparel brands including Lifestyle, Reliance, Raymond and Woodland have decided to either hold product prices or opt for only marginal hikes, despite a sharp rise in inputs costs. Devajaran Iyer, CEO, Lifestyle International, says the company does not plan to hike product prices for six month at least as it could affect the current positive consumption trend. Retailers fear any significant hike in prices may impact demand. India’s largest retailer, Reliance Retail, says a price hike may jeopardize demand generation when the market is improving. Anil Agarwal, Group CFO, Raymond, informs his brand will look at cost efficiencies and reducing discounting instead of direct price hikes. Profitability of the branded apparel segment has been under pressure for over a year due to sharp rise in raw material costs, container shortages and a significant increase in cotton prices. While most FMCGs and quick service restaurants have increased prices, clothing and lifestyle firms have adopted a more cautious approach. For instance, Harikirat Singh, Managing Director, Woodland, says his brand does not plan to increase prices for the next few months despite raw material prices surging by almost 25 per cent in the last 3-4 months.

Amazon reiterates commitment to continued growth in India Amazon India has reiterated its commitment to ensure continued growth in the country and remain fully compliant with its rules and regulations. The business has reaffirmed its commitments to job creation and getting micro, small, and medium enterprises online. The

business has even doubled its targets and now aims to create 20 lakh direct and indirect jobs in India and enable $20 billion in cumulative exports by 2025, says Manish Tiwary, Country Manager-Consumer Business, Amazon India. Amazon India has faced strong and sustained criticism from traders’ bodies, most vocally the Confederation of All India Traders, for its alleged monopolization of the Indian e-commerce market. CAIT has held nationwide strikes, boycotts, and campaigns against Amazon India and accused it of violating foreign direct investment regulations, which Amazon has vehemently denied.

Government to set up Products Boards across India To make the Indian textile industry truly Atmanirbhar the government needs to set up Product Boards in specific areas such as a knitwear board in Tirupur, a home textiles board in Karur with industry representatives, said Raja M. Shanmugham, President, Tirupur Exporters’ Association (TEA). India has

most exported items from the state after electronic and electrical products. Compared to 2020-21, UP’s textile and apparel exports grew 40 per cent. The jump was more than the rise seen in exports of electronics and electrical products as well as meat during the same period. Gautam Buddha Nagar and Ghaziabad emerged amongst the state’s top 10 export cities with 41 per cent and 11 per cent shares respectively. The apparel park in Noida will be set up with an investment of Rs 3,000 crore. It will house 115 export-oriented units of readymade garments. Commercial production in the park will begin by September 2025.The government also plans to make five textile and apparel parks through the public-private partnership (PPP) model. For this, the tender process will begin after identifying land by September next year. The aim is to begin production by 2026. The government will set up flatted factories in or around Kanpur Nagar, Gorakhpur, and Agra. It will also build a world-class textile park at a cost of Rs 10,000 crore under the PM Mitra scheme.

West Bengal to boost garment industry everything which is required to become the world’s leading sourcing destination for textiles and apparel. However the industry is largely represented by the MSMEs and such support is much needed, Shanmugham added. The TEA chief suggested that the existing structure of the export promotion councils should be revamped as they have proved ineffective. As a replacement the government must set up product boards in the happening areas, opined Shanmugham. Such boards will work towards boosting the sectors and allow true representation of the industry for quick policy and various other interventions when needed. In view of the incessant rise in cotton stocks this year, he said the Cotton Corporation of India (CCI) should start to build cotton stocks.

UP government plans textile and apparel parks in the state The Uttar Pradesh government plans to attract more investments by building new textile and apparel parks in the state. This will help the government to transform the sector from unorganized to organized. It will also boost exports by offering all facilities in one place. As per FY2021-22 data, textiles and apparels accounted for 9 per cent of the state’s exports during the year and totaled Rs 12,996 crore. They were the third

The West Bengal government plans to boost the state’s garment industry by setting up an apparel hub on 10 acres in Maheshtala. As per a Knitting Industry report the hub will span a built-up area of 12 lakh sq. ft. and will be set up under the aegis of MSME and textile department. The park will create over 1 lakh jobs for thousands of people residing in the neighborhood of Nungi and in adjoining Metiabruz. It will accommodate around 30,000 people, says Rajesh Pandey, Secretary-MSME and Textiles. The investment in the project will be to the tune of several lakh crores, he adds The project will be developed on a developbuild-finance-operate-and-transfer (DBFOT) model that gives private operators the right to operate the hub. The state government is offering a parcel of land along with a boundary wall on lease for 99 years for developing the hub. The government will select interested private partners by this week.

BUSINESS NEWS INDUSTRY BYTES

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IshaFlipkart Ambani is senior Chairman, Reliance realigns management team E-commerce player Flipkart has realigned its Retail

senior management team for the Ambani upcoming Mukesh Ambani’s daughter Isha Adarsh has new been business named asopportunities chairman ofand Reliance Menon, Vice pushes President and with Head, Retail as theSenior company ahead Private Brands, Electronics and Furniture, is a plan for succession in one of Asia’s richest set to head a new business initiative. Menon families. Isha Ambani’s promotion follows may head Flipkart’s upcoming business to that business of her twin brother, Akash Ambani, who (B2B) initiative. Manish Kumar, vicewas president appointedof as chairman of the telecom business development who has unit,built Reliance JioInfocomm. Both the grocery business, willthe lookAmbani after the brother andlabel sisterbusiness. have been part of teams that private negotiated MetaFlipkart’s PlatformsHead Inc.’s in Ajay Yadav, of investment large appliances and mobile businesses, will take charge of the the group.

electronics business unit which was under Menon. Flipkart’s furniture business will now be called the books, general merchandise and home (BGMH) category, said Krishnamurthy. The e-commerce player is in a restructuring mode from the beginning of this year to cut losses as competition gets tough. Flipkart is

Isha, 30, is an alumnus of Yale University. The twins have a younger brother, Anant, 27. Reliance Retail and Reliance Jio are subsidiaries of the family’s oil-totelecom conglomerate, of which the $217 billion Reliance Industries is the flagship firm. Mukesh Ambani is chairman and managing director of Reliance Industries

Aditya Birla Group appoints Prashanth Aluru as CEO and Co-Founder downing shutters on Jabong and the portal is now redirecting the users to the Myntra website. Walmart-owned FLipkart had acquired Jabong for $70 million in 2016, but saw a close to 13 per cent drop in app downloads for the brand in December 2019. Flipkart had acquired fashion e-commerce platform Myntra in May 2014. Soon after the Walmart acquisition in November 2018, Flipkart merged both Myntra and Jabong.

Aditya Group Union appointed Prashanth CMAIBirla welcomes Budget 2020-21 Theformer Clothing Manufacturers Aluru,, executive, Meta and Association Bain & of Indiaas(CMAI) hasCEO welcomed the wUnion Company, the new and co-founder Budgetthat presented by Finance Nirmala of TMRW will acquire as wellMinister as incubate on February 1, 2020 as positive overSitharaman 30 direct-to-consumer fashion and and growth oriented for the apparel industry. lifestyle brands. Rakesh Biyani, President of the association The move is in line with the group’s says the most important step in this Budget strategy launch and new-age for the to textile industry wasback the removal of the digital ventures. The entity mirrors anti-dumping duty on PTA, which was a long the house of brands model where a parent company acquires or incubates a portfolio of brands across consumer segments. Aluru will be responsible for setting-up a nimble and agile founding team. Aluru,

an alumnus of IIT Kharagpur, comes with extensive experience in digital and technology across strategy, growth and investing. He has also served as an angel investor and advisor to several startups. With the launch of the venture, the company plans to double down on its ongoing program of attracting new pools of capital. TMRW will tap into the extensive range of capabilities and networks that the Aditya Birla Group and ABFRL ecosystems provide to emerging and disruptor brands.

2008 with a 51 per cent share, and Reliance “Thetheproposed Retail with remaining financing 49 per centofshare. The JVinvoices operates of all the Marks & Spencer MSME sectorstores in India. It plans to continue focusing on its could again be a huge benefit omni-channel business to grow its customer to the Industry, which is largely base in India.

comprised of the MSME units”

Reebok India appoints Manoj Juneja as COO the MMF value chain, and give a fillip to the

Reebok has entire MMFIndia industry andappointed enhance itsManoj global Juneja new chief operating officer competitiveness. (COO). Indian Television AccordingAsto per Biyanianseveral other measures could also benefithas the textile such as report, Juneja over industry 23 years of the technicalintextile mission,roles a review of the experience strategic in retail, Rules ofchannel Origin especially our FTAs, a review M&S-Reliance India JV promotes Ritesh digital sales,in marketing, and of cheap of goodsbrands being made our has led imports successful for by over Mishra as new Managing Director MSME Sector, refund of all the taxes and levies Ritesh Mishra, Head-Operations and nine years. He is an expert in strategic for exports, and the targeting of making every Property, Marks & Spencer Reliance planning, digital strategy, leading district an export hub. The proposed financing big teams, channel sales and retail of invoices of the MSME sector could again be operations and a huge benefit to marketing. the Industry, which is largely standing demand of the textile manufacturing Previously he associated with Timex comprised of thewas MSME units. value chain. This will potentially open up Group India as vice president sales and marketing and the adidas Group for over 13 years as Senior Director, Sales and E-commerce. He was also associated with LG Electronics India. In his current role with Reebok, Juneja will oversee wholesale, e-commerce, and Reebok branded retail stores in India. Reebok is sold in India and other SouthEast Asian countries by Aditya Birla Fashion and Retail (ABFRL) which acquired the US-based brand management company India, has been promoted new Managing Authentic Brands Group (ABG) in 2019. Director of the company. He takes over from James Munson who will now assume the role of Retail Director, M&S International, UK. Mishra will be responsible for leading and accelerating the growth of the company’s India operations. He will operate from the India support office in Gurgaon, Haryana, and report to Munson. Mishra’s appointment signifies the company’s encouragement to build skills and expertise within the business and promote internal talent. It also signifies the retailers’ commitment to grow its business in the Indian market. Marks & Spencer entered in a JV with Reliance Retail in April

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