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FASHION SCOPE Fabindia launches dance contest

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thnic wear brand Fabindia has launched an interactive campaign in the form of a dance challenge that aims at engaging its customers and promoting its new collection. The aim is to reach new demographics as fashion brands continue to harness social media for marketing. Three winners will be presented with gift vouchers for the brand. The contest invites participants to film themselves dancing to the track Jerusalema and to upload it to Instagram and tag Fabindia’s account. Fabindia also recently released its new collection for spring 2021. The collection features chikankari techniques and has a bright, soft color palette. The coronavirus pandemic and the subsequent

lockdowns saw brick-and-mortar retail come to a standstill and customer interaction shifted completely online. Brands began to create challenges and contests to keep the attention of their customers while they could no longer do so in a brick-and-mortar store. Fabindia’s new challenge shows that, despite a relaxation of lockdown regulations, online connections with customers are proving as important as ever. The increased focus on online retail and social interactions promises to be a lasting trend in Indian retail, especially in the fashion and beauty sectors. With a relatively small investment, brands with engaging initiatives can gain significant publicity and reach wide audiences.

Fabindia launches dance contest

A part of Grasim Industries and a flagship company of the Aditya Birla Group, Birla Cellulose has bagged the prestigious Golden Peacock Global Award for Sustainability 2020, in the Textile and Apparel sector. Ranked globally #1 by Canopy’s Hot Button Report 2020 for sustainable forestry practices and development of next-generation solutions for alternative feedstock, Birla Cellulose is a pioneer in

19 Fashionscope 22

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sustainable sourcing practices. The company has able to neutralize its entire Scope 1 and Scope 2 GHG emissions by carbon sequestration due to the growth of its directly managed forests and has taken leadership in the climate change initiatives in the MMCF industry. Birla Cellulose also leads in the lowest water consumption in viscose fibre production, and its Nagda site is gearing up to be the first MMCF site globally to achieve zero liquid discharge (ZLD) site later this year in 2021.

20 FASHION & LIFESTYLE Loafers remain the most preferred footwear for men during pandemic: Report

s per a Business Wire India reports, loafers continue to remain a fashionable form of footwear for men even during the pandemic. As per the report, loafers are one of the most versatile, stylish and comfortable shoes. Their no-frills, lace-free design and sleek shape make them instinctively appealing. They are usually made from leather or suede and look like moccasins, generally with no heels in it. Loafers can be worn with a variety of outfits and are available in wide range of colors. It is a guilt free investment that can complete one’s look. They can elevate style quotient instantly.

Loafers are available in various designs, colors and materials. Their sub types include penny loafers, tassel loafers, slipper loafers, driving loafers and kiltie loafers. Of these, Penny loafers offer a sophisticated look, while tassel loafers are more versatile and can be paired with semi-formal or casual wear. Slipper loafers are considered as the closest to the original form of loafers and this looks best when paired with shorts or chinos. Driving shoes are described by a pebble or split rubber sole and flexible moccasin upper which are inspired by pedal-gripping shoes worn by racers. Kiltie loafers have a unique design with a decorative leather piece that covers the instep of the footwear. These loafers look great for formal and semi-formal occasions. As per the report, Mochi Shoes is the most preferred brand of loafers in India.

Himatsingka Seika to design Disney inspired home textiles range

he new licensing agreement with The Walt Disney Company for Europe, Middle East and Africa markets, gives Himatsingka Seika the right to design, develop and distribute a broad range of home textile products inspired by Disney’s archives and characters from the worlds of Disney, Pixar, Star Wars and Marvel. The collaboration is in line with Himatsingka’s commitment to work with globally-recognized brands.

Himatsingka will manufacture and distribute an expansive range of licensed home textile products across the region, including Germany, UK, France, Italy, Spain, CEE, Nordics and South Africa. The manufacturer, which employs more than 10,000 people, produces bedding, bath, drapery, upholstery and yarn products. Its liscened portfolio includes Calvin Klein, Tommy Hilfiger, kate spade, Barbara Barry, Royal Velvet, Waverly and Bellora. Its owned brands include Himêya, Pimacott, Organicott, Gizacott and Home Grown Cotton. Amongst the largest producers of bed linen products in the world, Himatsingka’s bedding manufacturing facility is equipped with the latest warping, sizing, weaving, continuous processing, dyeing and sewing facilities.

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22 BRAND WATCH Brands launch consumer acquisition strategies as pandemic declines sales

ith the pandemic reducing sales to just 20 per cent month-onmonth on their mono-brand sites, fashion and lifestyle companies are launching customer acquisition strategies like upgrading and digitally promoting their websites, negotiating better deals with logistics partners, creating warehouses and using their store network as hyperlocal delivery points, says an Economic Times report. Brands are also investing in customer acquisitions. Vibhor Sahare, CEO. ANS Commerce says, businesses at mono-sites had grown by two-five times in the pandemic. Prior to the pandemic, volumes on mono-brand webstores were low, which made the companies unable to negotiate better rates from logistical partners, thus impacting their unit economics for online deliveries. Now, the unexpected increase in sales during the pandemic has helped them negotiate better rates from logistics partners. Several brands have introduced their own apps or are planning to do so soon. Levi’s and Benetton are planning to launch their India brand apps early 2021. Their assortment offer will be exclusive and the largest on their own site and they will launch energy collaborations like Levi’s xBape or Levi’s x Snoopy first on their own site, says Sanjeev Mohanty, CEO-South Asia, Middle East and North Africa, Levi Strauss

Rupa & Co to expand into premium and super-premium category

online businesses, as consumers avoided malls and high streets amid fears of Covid-19. Retailers said the pandemic has leapfrogged their online sales by five years and much of the growth is there to stick. In coming months, Ace Turtle will upgrade store technology to expose the brick-andmortar inventories on upcoming Lee and Wrangler webstores, as well as on ecommerce sites like Flipkart, Amazon and Myntra. Lee and Wrangler currently source almost 90 per cent apparels from within India and Ace Turtle plans to increase local sourcing to about 95 per cent within a year. The supply chain will be ramped up towards omni-channel retailing with a quick turnaround time as per online demand.

Denim brand Sin strengthens youth connect with new partnerships

segment over the years. While Frontline is its flagship brand, Rupa family also consists of brands like Softline, Euro, Bumchums, Torrido, Thermocot, Macroman, Footline and Jon.

Lee, Wrangler to increase focus on online channels in India

One of India’s largest knitwear brands, Rupa & Company plans to expand more in the premium and super-premium category besides improving focus on women, casual and thermal wear. The strategy is to foray into newer markets through new distributors besides penetrating deeper into existing ones. This would help increase investments in brand development across new geographies. The company witnessed a 52 per cent jump in its Q3 net profit to Rs 43 crore in the quarter ended December 2020, as against Rs 28 crore it reported in the year-ago period. Its revenue during the quarter rose by 12 percent to Rs 345 crore, as against Rs 307 crore it reported in the corresponding period last year. Established with a vision to serve the erstwhile hosiery market, Rupa & Company has emerged as a key player in Indian innerwear

Jeans brands Lee and Wrangler are planning to transform their India businesses into omni-channel entities. This is being done to drive growth and double sales over the next two years by extensively focusing on online channels. The US-based Kontoor Brands is moving Lee and Wrangler business from a fully owned Indian subsidiary to a franchise model. The company has signed a licensing deal with Bengaluru-based Ace Turtle, which provides ecommerce solutions to traditional retailers. Kontoor is also looking to shut a few stores in India and focusing on rapid growth of fashion products online. The decision to partner Ace Turtle in India is part of a strategy to adapt to a market that is increasingly online and ensure the brands are accessible to customers across the country through a combination of ecommerce and physical stores. The partnership comes at a time when fashion and lifestyle brands including Puma, Levi’s and Jack & Joes have reported doubling

Through its partnerships with ATK Mohun Bagan FC and Hyderabad FC for the ongoing Indian Super League season (ISL), denim brand Sin aims to deepen its connect with the youth and enhance its presence across India. The partnership marks the brand’s maiden association with the teams ahead of Season 2020-21 and represents its deep connect with young India. Founded in 2012, the fashion denim brand had earlier signed Indian cricketer Hardik Pandaya as its brand ambassador. Sin is very popular among the youth in India, and has won several global accolades; such as Image’s Emerging Menswear Brand, Most Admired Fashion Brand (2015) and The Best Fashion Sustainability Award by the global retail giant Lulu.

RIL rebrands sports & lifestyle business as RISE Worldwide Reliance Industries has announced rebranding of its sports and lifestyle business to RISE Worldwide as it independently ventures into the burgeoning industry in India and globally. RISE Worldwide will continue to drive the full portfolio of owned and operated brand properties formerly under the banner of IMGReliance. RISE Worldwide is conceptualised with the belief that ‘Together We RISE as 1’ the company’s motto represents the passion, positivity, optimism and leadership of a young India, globally. The transition to an independent brand identity is aimed at enabling various verticals

BRAND WATCH

24 BRAND WATCH Indian apparel retailers go digital with customized apparels

ith the pandemic devastating several businesses and industries in 2020, many retail and offline players are offering customized services online like the Cloud, etc. Prominent amongst these is The Pant Project which offers customized trousers at reasonable rates. Each trouser is personalized according to customers’ measurements and their unique styling preferences. They can choose between slim, tapered and regular (relaxed) fit to find a pair of pants that fit perfectly to their body type. The customers can add a personal touch to each of these trousers and have their initials monogrammed onto the trouser at no additional cost. The Pant Project also provides free consultation by their personal stylists before and after purchase, where clients can consult the stylist on the ideal fabrics, fits, styles and customizations as per their needs. Similarly, Delhi-based NAAZ- The Designer Boutique offers consultation services virtually through the digital medium. The boutique provides customers with a demo picture and the size chart as well. The products are made to order and of particular sizes and requirements.

Brands realign strategies to remain afloat during the pandemic While 2020 was full of hardships for brands and retailers with store closures, major dip in both sales and revenues, many struggled while others looked for ways to stay afloat. In all this madness brands came up with new strategies to survive. From antiviral collections, home apparel line to shop-on-wheels at resident welfare associations and appointment viewing, besides doorstep delivery fashion and lifestyle brands rolled out new ways to reach and connect with customers. Innovative customer approach As Ajay Kapoor, President-retail, Fabindia explained to BrandWagon Online, “It is all about unlearning what has been learnt in all

currently within the sports and lifestyle businesses, an autonomy to operate and create industry driving strategies and world class consumer experiences, as the company focuses on further investing in the segment. The RISE Worldwide portfolio includes sports and sponsorship consulting, fashion and sustainability platform building, athlete talent management, licensing, broadcast production, lifestyle and entertainment with owned or managed key properties such as: Hero Indian Super League, Lakme Fashion Week, Tata Open Maharashtra, Jio Wonderland, SU.RE Sustainable Resolution etc. RISE Worldwide aims to provide a comprehensive solution to the sports, lifestyle and entertainment industries as one inclusive force creating a symbiotic ecosystem that engages in nation building by inspiring the youth through its various initiatives. The company is already India’s largest independent Sports, Lifestyle and Entertainment enterprise, connecting with over 150 million youth on social media through their various IPs.

these years and learning new tricks of the trade.” Fabindia’s business has recovered 60 to 70 per cent while online sales have doubled over the last six months. The brand launched its ‘White glove service’ through which it reaches loyal customers with online customised catalogues and look books to order products delivered at their homes. The aim is to be present wherever the customers are. Other brands too have come up with innovative ways to connect with customers. Peter England introduced a collection of workwear, loungewear and face masks with virus-resistant technology ‘HeiQ Viroblock’ in collaboration with Switzerland-based HeiQ. Manish Singhai, COO, Peter England, believes most of these products will remain relevant in future. She feels the deep cultural change that took place during the lockdown in consumer habits is likely to stay for a long time. “Moreover, wellness series of products as well as health products are going to gain prominence in the future,” she told the Financial Express, with work from home becoming the new normal, casual, comfortable clothes will be in demand for a long time. Online retail in focus Peter England’s online sales have doubled since Covid-19. In fact, most brands have seen a spurt in online sales and hence have increased marketing spends on online platforms. For example, High Street Essentials clothing brands FabAlley and Indya are looking to only spend online till the first quarter of FY22. As Tanvi Malik, Co-founder, FabAlley and Indya explains, within digital, performance marketing will contribute about 90-95 per cent of the company’s spend and 10 per cent will be spent on brand building on digital. The company’s online sales are almost 120 to 150 per cent higher than last year. Having understood the importance of online sales the company looks to sharpen its focus on the medium. Practices like same-day refund and exchange process; communicating real-time delays in orders through association with logistics intelligence platform Clickpost are some ways they are looking to gain customer’s trust. The bottomline therefore, is reinvention keeping new realities in focus. Fashion as of now is all about being casual and comfortable and brands need to realign their offerings as per demand.

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26 BRAND RETAIL H&M rolls out 50th outlet in India

Trident lunches six new showrooms across India

fter H&M made its India debut at the Select Citywalk Mall in New Delhi in October 2015, the Swedish fast fashion brand rolled out its 50th outlet in India, in Bhubaneshwar, a landmark reached in five years. H&M has been one of the most aggressive fashion players in India in terms of store expansions, compared to rival Zara which has opened only 24 stores even though the Spanish brand entered India five years ahead of its rival. H&M has also overtaken its main rival Zara in terms of revenues to become India’s largest clothing brand in terms of sale in FY19-20 driven by aggressive store expansion and lower pricing. H&M says it will continue aggressive expansion strategy in India with a renewed target of reaching 100 outlets.

Puma to expand store network in India

Sportswear brand Puma plans to open around 10 brick-and-mortar stores in India in the coming 45 days as well as a number of shop-in-shops, reports Fashion Network. These Pop-up stores will help the brand build relationships with customers even after the pop-up leaves the society, said Abhishek Ganguly, Head- Puma’s India and Managing Director, Southeast Asia. Puma has seen its average transaction value and average basket size grow year-onyear, as staying home has given some families more funds to spend on clothing in lieu of other luxuries in 2020. In terms of its product offerings, Puma plans to expand its men’s inner wear offerings in India, due to increased demand. Puma also plans to add a wider range of womenswear items, such as bra tops and jackets, to respond to a growing fitness trend, especially among women and across the country.

Trident, the global player in home textiles, has strengthened its retail presence in the country with the opening of six new exclusive showrooms for its bed and bath linen brands. The newly opened showrooms spread across 500 sq. ft each are located in Ludhiana (two showrooms), Panchkula, Pune, Solapur and Bhopal. The tally of Trident’s exclusive showrooms across India has now increased to 12. These showrooms are a significant milestone in the company’s journey. With this expansion, the company will make its innovative, value driven offerings and affordable luxury accessible to a wider audience who are looking for great quality products by home grown brands. Trident also indicated the company is open to collaborate with partners under the franchise model, so that the presence of Trident, pervades throughout the country. In the spirit of ‘Vocal for Local’ & ‘Local for Global’ the company is projecting to take the count of its exclusive showrooms to 45 by the end of 2021. The company also envisages launching other products, within the segment of health and hygiene, which will be conveniently accessible across India, at competitive prices.

IKEA to expand store network in India Home furnishings retailer IKEA India, which recently opened its store in Navi Mumbai, plans to expand its store network by opening two smaller format stores in Mumbai and focusing on the Delhi, NCR and Bengaluru markets. IKEA has purchased a 14-acre land parcel in Bengaluru to construct its third store in the city. It also has a land parcel in Gurgaon. IKEA also plans to expand its online operations in India. It has earmarked about Rs 6,000 crore investments in Maharashtra in the next ten years. IKEA India first opened its online channel in Mumbai before opening

Trident has been steadily expanding its brickand-mortar as well as online retail presence to meet the growing demand for home textiles products triggered by a prolonged lockdown and subsequent growing consumer interest in home decor. To cater to the evolving needs and preferences of its customers, Trident is running ‘Swatchta pe haq toh sabka hai’ campaign. Leveraging advanced technology, Trident has launched ‘Tri-Safe Family Pack,’ its revolutionary offering in bed and bath products, which has been engineered with a special antibacterial topical treatment.

Skechers opens largest Indian store in Thane

its store in the country’s financial capital. Since the home furnishings retailer entered India, it has brought in investment close to Rs 10,500 crore. A part of Ingka Group, IKEA India opened its first retail store in Hyderabad in August 2018, followed by online stores in Mumbai, Hyderabad and Pune.

The North American lifestyle and performance Footwear Company, Skechers opened its largest Indian store in Thane. The new outlet has an open-air design with no closed spaces that offers a hygienic and safer shopping ambience to the shoppers and an amazing retail experience. The company pulled off the brave decision of opening a grand store in such uncertain times and is a great evidence of the brand’s strong customer base and store design which is appropriate in these times.

BRAND RETAIL

28 BRAND RETAIL Uniqlo launches second store in Gurgaon

The buzz is footfalls at the store had dropped, especially after the pandemic, and the store was unable to sustain. As the first Decathlon store in Gujarat launched in 2013 it was also the largest outlet in the country, spread over 90,000 sq. ft with a generous playground and a huge parking space. Apart from Ahmedabad, Decalthon also operates stores in Vadodara and Surat in Gujarat. The closure of Decathlon store reflects the struggle being faced by the retail sector, especially those operating out of malls and shopping complexes in Ahmedabad where vacancy levels are as high as 75 per cent and rentals have dropped 10-15 per cent, postCovid outbreak.

Onitsuka launches biggest Indian store in New Delhi

apan’s largest fashion retailer Uniqlo has opened their second store in Gurgaon. Located in the Ambience Mall, the outlet is the brand’s sixth store in the National Capital Region (NCR) and India. It is also Uniqlo’s second store in malls operated by Ambience Group after the Tokyo-based fashion retailer made its India debut in Ambience Mall in Vasant Kunj in New Delhi last year. The store is spread over 19,000 sq ft and occupies two floors in the shopping centre. So far, Uniqlo has rolled out outlets in New Delhi, Gurgaon, Noida and Dwarka in the NCR. In the first phase of its growth plan, the retailer plans to open stores only in the NCR and then follow it up by stores in Mumbai. Since its India debut in October last year, Uniqlo has posted net loss of Rs 64 crore with sales of Rs 129 crore during fiscal year 2019-20

Skechers is an American performance and lifestyle footwear company which provides a range of top-notch products for men, women and children. It was founded in the year 1992 by Robert Greenberg who sensed that there was a high demand for stylish casual street shoes among the young and fashionable. Headquartered in Manhattan Beach, California, the company now provides thousands of styles designed and developed by its in-house team. The brand entered India in 2012 with an aim to expand its business.

Decathlon to close down ‘country’s biggest sports store’ in Ahmedabad Sports retail chain, Decathlon, plans to shut its Sardar Patel Ring Road store in Ahmedabad, launched seven years ago.

This was “country’s biggest sports store” on January 15. “The operations of this store will be merged with those on CG Road and Motera in Ahmedabad,” said an official from the Decathlon sports store that was operating from a pre-engineered building provided by city-based builder Goyal & Co.

Onitsuka Tiger has launched one of its biggest Indian stores in Pacific Mall, Tagore Garden, New Delhi. Spanning 1,500 sq ft, the store celebrates Japanese craftsmanship and focuses on sophisticated designs and luxury details through its collection of shoes, apparel, and accessories. It showcases the brand’s exclusive 2020 Autumn/Winter collection, Oiled Weather Series. After reopening post-lockdown, Pacific Mall, Tagore Garden has ensured strict regulations and standards for hygiene and cleanliness. All the shoppers and staffers have to go through daily temperature checks and wear masks. Contactless sanitizers have been installed at entry points, disinfection of common touchpoint at regular intervals in a common area, controlled customer entry at the mall and each store, immersive disinfection of air conditioning and fresh air system, inside elevators and on escalators, alternate seating arrangements in all Food & Beverage outlets, etc are some of the additional preventive steps taken by mall authorities.

COLLECTIONS

30 COLLECTIONS PUMA launches new yoga collection with Kareena Kapoor Khan

Global spots brand PUMA has launched a new yoga collection with actor Kareena Kapoor Khan. The actor has always prioritized fitness, and it’s no surprise that she’s sweating it out by hitting the mat regularly during her pregnancy too. The face of Global Sports brand PUMA, Kareena is living up to her association with the brand, and rightly so. Kareena was recently spotted looking radiant as ever, flaunting her baby bump in PUMA’s Studio Line. Her pictures in the yoga apparel line make her look effortlessly chic and she’s yet again proven to be the envy of many women. The Studio line will feature sports bras, leggings, and training tops.

Spykar is introducing a revolution in the men’s underwear category with their latest launch – Underjeans; innerwear with the soul of jeans. Through this innovation, Spykar endeavors to recreate the same phenomena for the most neglected, unspoken and the most taken- for- granted garment in a man’s wardrobe: “the underwear”. The range has been specially designed using an exclusive technique of 4 ways Lycra mesh, and combined with extra fine fabric for better breathability. The brand will introduce briefs, boxers, vests and tracks. Underjeans has been launched on social media as a new entity and exclusively on Amazon and will be launching on Myntra and Flipkart in the coming weeks. The marketing campaign for this product showcases its comfort and style element through a mix of traditional and non-traditional mediums like outdoor hoardings and social media activities.

Roadster adds augmented reality tees, anti-viral clothing to line

Fashion retailers approach suppliers for Spring/Summer collections

is confident of 90-100 per cent recovery of pre-COVID levels of business by March-April. Arvind Fashions too is positive and has placed another round of orders in November after gauging improving market conditions. Rahul Mehta, Chief Mentor, CMAI, hopes along with large fashion apparel retailers smaller ones too start placing orders in coming months. However, there are suppliers and retailers are concerned about another wave of coronavirus spike in coming months. Udani believes if this happens, it will again have a negative effect.

Spykar revolutionizes men’s underwear catergory withUnderjeans

Buoyed by the unexpected bounce-back of retail sales in festive season, Indian fashion and apparel retailers have started approaching suppliers for spring/summer collections. Also, retailers, who had earlier left stocks of garments and fabrics on warehouse floors, have now started picking them up, says Premal Udani, Chairman, Kaytee Corp. Spurt in sales has energized retailers who are rushing orders for spring/summer collections. Many see a ray of hope to reach a pre-pandemic level in the first quarter of next financial year. Rishi Vasudev, CEO, Lifestyle,

In response to increased public health concerns with on-going pandemic, lifestyle and fashion brand Roadster launched clothing and footwear made from anti-viral textiles. The brand has also expanded its product selection to launch a line of Augmented Reality Tees. Roadster’s new line of AR T-shirts was developed by fashion e-commerce platform Myntra’s Innovation Labs design team. The new range of graphic tees feature a readable AR code which people can scan on the Myntra app on Android phones to bring the graphic to life with sounds and visuals designed to give the experience of being on the road. The collection features six different scannable designs and the 100 per cent cotton T-shirts. The collection is designed to engage wearers, encourage them to use the Myntra app, and promote Roadster’s identity as a brand for riders. The anti-viral clothing line launched by the brand also includes footwear made from anti-viral textiles designed to kill 99.4 per cent of viral infections they come into contact with. The line features jackets, t-shirts, sneakers, and sweaters among other garments. Roadster also embraced the shift to virtual events in the ‘new normal’ by holding an online music contest ‘Roadster Ok Please’ last year.

COLLECTIONS

32 COLLECTIONS Benetton India to strengthen fashion footwear and innerwear segments

enetton India plans to strengthen its presence in the fashion footwear and inner-wear segments in the next three years in the country. The company expects footwear and innerwear segments to contribute nearly 15-20 per cent of overall business in the next three years. It has completely developed a footwear line in India with 90 per cent of business being driven from the online channel currently. It also plans to add 30-40 new stores this year besides launching its online store in the second half of the year. The company aims to expand its presence across all the channels. Its e-commerce channel is growing in high double-digit CAGR due to low penetration and it will also continue to leverage on this opportunity in the right manner. Benetton is optimistic about the government’s move to set up seven textile parks in the country in the next three years to position India as a fully integrated manufacturing and exporting hub. This will enable the country in strengthening its presence in the global supply chain.

Taneira launches new ready-to-wear collection

the modern Indian woman in the ready-to-wear category. We hope this collection will receive a warm welcome by our discerning customers. In the first phase, we are introducing over 1000 designs and look forward to coming up with new inspirations and designs throughout the year.

Athletic leisurewear seeing strong demand: Puma India

Titan’s ethnic-wear brand Taneirahas forayed into the ready-to-wear category with the launch of Eira, A collection of stitched Kurta sets for the progressive Indian women. The handcrafted kurta sets will be available in Linens, Tussars and soft Silk Ikats. They can be teamed up with farzi pants & straightcut pants along with contrasting dupattas. This entire collection is designed in a festive colour palate comprising of fuschia, tangerine, raspberry wine, charcoal grey, peach, musturd yellow amongst others. Delicate metallic detailing adds further grace to the outfits. Handcrafted using pure and authentic fabrics, the collection boosts of multi-functional outfits that caters to various moods throughout the day. Eira: presents a unique melange of rich weaves, festive tones & eclectic silhouettes to suit the contemporary styles of

Abhishek Ganguly, General Manager (India & Southeast Asia), Puma India believes athletic leisurewear is seeing strong demand with work-from-home becoming a norm. The brand’s sales in the initial days of reopening stores exceeded expectations and footfalls have been growing steadily since. Its e-commerce business is ramping up fast. As many people have taken to fitness, there is higher demand for fitness and training merchandise. Also, with work-from-home becoming a norm, athletic leisurewear has strong demand, says Ganguly. With domestic and international travel still restricted, Puma has adopted virtual connects with team members, stakeholders and retail partners. The brands recommends extension of the LTA policies to private sector employees

besides incentivizing taxpayers by giving further income tax rebates.

Kidwear grows by 90% on Myntra

The kidswear category registered a 90 percent growth on Myntra in 2020 over the last year making it the highest growing segment on the platform. As per an Economic Times report, this can be attributed to the growing attractiveness of online shopping in the country. The category also performed extremely well during the course of the pandemic, when its share of revenues doubled, registering strong organic growth forhomewear and day wear article types, such as value packs, night suits, and innerwear, etc. During the current yearend festive season, Myntra witnessed huge demand for the party and outerwear, with sequins and embroidered dresses for girls and blazers and suits for boys. Winter jackers and sweatshirts are also emerging as favourite among kidswear. Myntra currently houses over 1.1 lakh styles from over 450 leading brands, in the kid’s category. The platform has recently launched the ‘Toys’ segment which offers 850 styles. It plans to launch 1500 more in the next 3-4 months.

BUSINESS NEWS

34 TRENDS Denim brands launch size-inclusive, seasonless collections

esides becoming size inclusive, denim brands are also launching seasonless styles to cater to customers changing demands. As per a reports, last month women’s wear brand NYDJ launched a range of pull-on jeans that stretch to fit three sizes. Before that, premium denim brand Frame had introduced a range of women’s jeans Le One that fits several sizes. Another brand, Good American collaborated with Calik for a range of skinny jeans called Always Fit. The jeans in this range offer 100 per cent stretchability, accommodating a range of three to four sizes without sacrificing fit Pakistan-based vertical denim manufacturer Soorty launched Re-Sync denim, a denim range featuring one-size-fits-all technology. The range is made from a trans-seasonal, adaptive fabric that sculpts the body with 360-degree stretch comfort and fits a range of four sizes. The company aims to offer sustainable products and also launched its Re-Dream collection made of nonvirgin materials, such as post-consumer and post-industrial waste, GRS-certified recycled polyester, Lycra T400 Ecomade T400, CoolMax Ecomade and Repreve. As per US Centers for Disease Control and Prevention, the average American woman’s waist is 37.8 inches—which ranges from a size 16-20 in select jeans. Market intelligence platform Edited reports, there has been an 11 percent increase in the number of new plus-size or curve styles compared to 2019.

Global activewear market to remain resilient to COVID-19 impact: Report

A new report from Spanish investment firm Comprar Acciones, expects the global activewear market to remain resistant to the economic impact of COVID-19 and reach $353.5 billion in 2020. The firm also expects market to grow at a 3.7 per cent CAGR over the next six years, reaching $439.17 billion by 2026. It further predicts athlesiure sales to account for 31 per cent of apparel revenues in the US in December. Comprar Acciones also highlights 75 per cent growth in Nike’s online sales during the fourth quarter ending June this year and 82 per cent in the first quarter that ended in August. According to the company, this surge in e-commerce helped offset significant declines in its brick-and-mortar sales during the fourth quarter. There has been 93 per cent increase in e-commerce sales of Adidas in the third quarter and the 66 per cent increase in Puma’s digital sales year to date. The firm reinforces the important role played by the athleisure segment during the pandemic. NPD predicts athleisure items like

sweatpants and sweatshirts will account for 31 per cent of total apparel spending in the US during the 2020 holiday season. It had a 26 per cent share in the 2019 holiday season, the company adds. For example, Gap-owned women’s workout clothes brand Athleta, posted a 35 per cent increase in net sales in the third quarter, while another of its brand Old Navy registered a 55 per cent rise in activewear sales. Abercrombie & Fitch’s women’s loungewear brand, Gilly Hicks posted a double-digit increase in sales in the most recent quarter, thanks to a 100 per cent rise in its online sales. A Euromonitor and Coresight study cited by Comprar Acciones expects the US athleisure market to decline by 9.2 per cent to reach $105.1 billion in sales in 2020. However, the sector is expected to rebound in 2021, when sales could grow by 7.9 per cent.

COVID-19 driving the growth of value apparel market: GlobalData

A new report from GlobalData says the economic uncertainty risen in the wake of the pandemic is driving consumers to seek value for money with Asia emerging as the new epicenter of the value apparel market by 2024. As per Business of Fashion, the APAC region will account for nearly 50 per cent of worldwide value apparel sales within the next

years. Against this, Europe will account for 26 per cent, the Americas’ 22 per cent and the Middle East and Africa’s 3 per cent. Between 2019 and 2024, value apparel sales are set to grow worldwide by $42.2 billion. While China will continue to be the largest apparel market in terms of sales by 2024 India will become the third largest and fastest growing value apparel market surpassing UK. In 2019, China was the largest value apparel market in terms of sales followed by the US and the UK.

H&M collaborates with Lee for recycled cotton denims collection

H&M has collaborated with American denim legend Lee to launch first ever 100 per cent recycled cotton jeans collection. The Lee x H&M range features collections for women, men and kids. It is available online as well as select H&M stores. Focusing on sustainability, the collection features H&M’s first 100 per cent recycled cotton jeans, made from 80 per cent postindustrial waste and 20 per cent postconsumer waste. It also contains a cotton-free denim made from renewable man-made fibers besides water-saving dyes and lower impact denim washes that are 3rd party verified for their lower water usage, chemical, and energy consumption. The women’s collection comprises wide and loose jeans that have a 90s throwback feel and Lee’s classic Rider jacket in an oversized cocoon shape. Its denim corsets add a feminine edge, while dungarees and overshirts bring the functional workwear vibe, alongside Texloop™ RCOT™ Recycled Cotton jersey pieces for the full Lee x H&M look. The men’s collection offers workwear jackets and relaxed fit five pocket jeans made from 100 per cent recycled cotton. The relaxed carpenter jeans are made with water-saving dyes and 100 per cent Tencel™ Lyocell cellulosic sewing threads. The collection also offers workwear dungarees, denim bucket hats and tote bags, as well as heavyweight jersey pieces to complete the sustainably mad collection. The kids’ collection features Lee’s classic Rider jacket and jersey pieces including t-shirts and hoodies.

36 BUDGET

New textile parks, duty reductions, Budget 2021-22 will boost T&A exports

rom being called one of the most pragmatic Budgets of modern India to being hailed for its positive and growth-oriented initiatives, the Union Budget 2021-22 has been appreciated by all sections of the Indian textile and apparel industry.

Textile parks, custom duty reduction to make SMEs more competitive As A Sakthivel, Chairman, AEPC opines, the budget ensures robust economic recovery. The allocation of Rs 10,683 crore for production linked incentive scheme for MMF garments and technical textiles, will promote MMF garment exports from India. The seven

textile parks, to be set up under the MITRA scheme, will attract huge investments, notes Ashok Juneja, President, Textile Association of India. Their plug and play facilities will help Indian SMEs build their competitiveness, he adds. These parks can also be aligned with their sustainability goals to attract international buyers and investors, he adds. Sakthivel and Juneja also appreciate the reduction in custom duty on nylon to 5 per cent from the earlier 7.5 per cent. This will make the MMF industry more competitive and boost exports, opines Juneja. However, the levy of 10 per cent basic customs duty on cotton imports may shoot domestic cotton prices, weakening competitiveness of Indian cotton exports, he

adds. The Budget also allocates Rs 1,624 crore for the shipping sector. It launches a new scheme to promote flagging of merchant ships which will help reduce shipping costs, Sakthivel opines.

Removing ADD will boost MMF value chain One of the most important decisions is the removal of anti-dumping duty on PTA, says Rakesh Biyani, President, CMAI. He feels, this will boost the MMF value chain and enhances its competiveness globally. Biyani also appreciates the other measures announced in the Budget. The review of Rules of Origin, cheaper imports of MSME goods and refund

BUDGET

of all the taxes and levies for exports will make every Indian district an export hub, he adds.

ATUF to clear pending capital subsidy Raja M Shanmugham, President, The Tirupur Exporters Association (TEA) is optimistic about the allocation of Rs 700 crore for Amended Technology Upgradation Scheme (ATUFs). He feels, this will help clear pending capital subsidy. The allocation of Rs 30 crore for Export Promotion Studies and Rs 100 crore for Integrated Scheme for Skill Development will strengthen India’s ecosystem, he adds.

Tax norms relaxation will remove anomalies Shanmugham also hails the government’s decision to allow women workers to work in night shift and reduction of compliance burden on employers with single registration and licensing, and online returns. The proposal to reduce time limit for reassessing income tax proceedings from the present six to three years will help taxpayers concentrate in mainstream business, he adds. Changes in taxation changes and measures taken to simplify GST, will help remove anomalies such as the inverted duty structure, adds Juneja.

Urgent need for waste management techniques

water

Though the Finance Minister touched upon clean air and renewable energy in her speech, nothing was mentioned about water conservation and wastewater management. One of the most polluting industries that discharges more than 100 kilo litres of wastewater a day, the T&A industry requires wastewater management initiatives urgently, points out Juneja.

38 Budget to boost economic growth: Gautam Singhania, CMD, Raymond

Budget 2021-22 addresses issues of all sectors: TEA

autam Singhania, Chairman & Managing Director, Raymond believes the Budget would boost India’s economic growth besides easing the process of doing business in the country. Singhania particularly appreciated the government’s decision to set up seven new textile parks under the under the Mega Investment Textile Parks scheme. The increased outlay on infrastructure would help India create a world-class infrastructure, he said. He also welcomed the government’s move to double the allocation for MSMEs to Rs 15,700 crore. Singhania also hailed the government’s decision to introduce an alternate debt resolution mechanism and a special framework. The government also proposes to reduce the margin money requirement from 25 per cent to 15 per cent for startups.

Raja M Shanmugham, President, The Tirupur Exporters Association (TEA) appreciated the Union Budget 2021-22 as being pragmatic, addressing issues of all sectors at a time when the Indian economy is getting back to normalcy. The association also welcomed the announcement of setting up seven mega textile parks in the country over three years with ‘plug and play’ facilities. Shanmugham also welcomed the fund allocation to roads and highways infrastructure facilities, specifically to Tamil Nadu State. He also hailed the launch of mega investment textile parks and setting up seven textile parks in the country, He feels this will enable India to create global champions in exports and is hopeful Tirupur exporters will opt to set up units in these parks. Shanmugham said the allocation of Rs 700 crore for Amended Technology Upgradation Scheme (ATUFs) will help to clear pending capital subsidy. He appreciated the allocation of Rs 30 crore for Export Promotion Studies and the allocation of Rs 100 crore for Integrated Scheme for Skill Development. Shanmugham said the reduction of Basic Customs Duty (BCD) on nylon chips, nylon fibre and yarn, caprolactam to 5 per cent will help for promotion of textiles industry and exports. He lauded the allocation of Rs 50,000 crore over five years for National Research Foundation (NRF) to strengthen eco-system of the country and was hopeful that Tirupur would also benefit out of this allocation. The proposal to allow women workers in all categories in night shifts with adequate protection, and reduction of compliance burden on employers with single registration and licensing, and online returns, were also appreciated by Shanmugham. The proposal to reduce the time limit for reopening of assessment for income tax proceedings from the present six to three years will help taxpayers to concentrate in their mainstream business, he added.

CMAI applauds 2021-22

Union

Budget

Rajiv Masand, President, Clothing Manufacturers Association of India (CMAI) welcomed the Union Budget 2021-22. He hailed the announcement of seven mega textile parks as being in line with the government’s intention to encourage mega projects and increasing the scale of textile operations in the country. He particularly applauded the incorporation of the Plug and Play model in these parks to avoid huge capital expenditure outlays. Masand urged the government to study the

reason behind the failure of textile parks in the country so far. He also pointed out increasing

import duty on cotton and cotton fiber may not impact the industry too adversely as it is still reeling from an unprecedented increase in yarn prices. Masand said, the Budget will positively impact consumer spending. The permission to form a one-person company will directly benefit smaller apparel manufacturers as they will receive more support from banks. The increase in tax audit slabs will benefit smaller members of the sector, added Masand.

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A simple, standardized retail policy to help accelerate India’s economic growth

espite a consistent 10 per cent annual growth over the past few years, India’s retail sector has not been able to achieve the same level of growth as Malaysia and Thailand. Now, the pandemic has forced around 7 lakh small retailers to permanently shut down operations, reports Economic Times. Though the Indian government has launched several initiatives to boost the sector’s growth in past decade, it needs to introduce a cohesive National Retail Policy that promotes inclusive growth amongst all key players. The report says the policy needs to introduce a single window clearance system for retailers planning to open a new store. It also needs to digitalize the approval process to make it more speedy and transparent. Also, the process needs to be time bound and easily renewable. The government can also use e-governance and digital tools for inspection/ audits to make the process more efficient. The policy should also focus on launching flexible loans for kiranas, partnering Finetech startups to assess credit worthiness and

incentivizing organized players to extend credit to smaller players..

Digitization to help double retailers’ profitability Digitization can help traditional retailers grow revenues by around 30 per cent. It can also double their profitability. However, the digitization process is often hampered by a lack of capital, capabilities, and awareness. Government can help such retailers by launching new digital solutions and providing them tax breaks or subsidies for adopting digital tools. With an investment of Rs 12,000 crore, the government can modernize over 10 lakh retailers. It can also encourage private players / start-ups to collaborate with traditional traders to further increase their reach.

Infra development to reduce cost Lack of efficient warehousing, coldstorage, and transportation facilities often increases the overall logistics costs of Indian products by around 5 to 8 per cent than global counterparts. Therefore, the National Policy

needs to invest in the development of new warehouses, cold storage and other logisticsrelated infrastructure. This will reduce retailer’s costs by up to 2 percentage points besides improving their service to consumers.

Simplfy labor laws India’s current skilling programs fail to provide employment to laborers. The policy to needs to clarify and simplify laws related to part-time and gig retail workers. It needs to encourage flexible work hours and part-time work. The policy also needs to incentivize employers to implement comprehensive childcare systems which would help improve women participation in retail by 5-10 per cent points. Scaling up skilling programs and vocational courses can also the government upskill India’s workforce. As the retail industry has a major impact on the Indian economy. Its growth policy needs to be simple, standardized and digitized. This will not only create 30 lakh more jobs but also help the sector realize an additional growth of up to 2 per cent by 2024.

44 COVER STORY

Sloggi debuts with innovative, comfortable bodywear range

For over 40 years Sloggi has made a mark across the globe with its premium, bodywear collections and now its eyeing the India market. The aim is to promote young Indian consumers with its comfortable offerings that stand apart for innovations

brand that believes, true comfort is not worrying about others but being true to one’s own self, Sloggi offers wearable and innovative bodywear across the world. Launched in 1979 in Europe, the brand delivers unsurpassed ease across diverse intimate apparel ranges for both women and men in Europe, Asia, the US and Canada. Having ventured into India recently (being a part of Triumph) with it global bestselling collections Sloggi now looks to make a mark in Indian consumer’s mind. As Santhosh Sivaramakrishnan, Commercial Director, India and Sri Lanka, Triumph International says “Our success is fueled by comfort innovations

• Sloggi is known for its innovations across the Canada, Europe and Asia,US • In India it launched the ZERO Feel series of bras, briefs for women • Ever Fresh range of bodywear for men adapts to all shapes and moves • The target is men and women 18-35 years old • Aims to set up over 1,000 s consumer experience points (POS) in India in 2 years • Available on Amazon now, plans to expand online footprint that redefine the underwear category. We constantly strive to continue on this path and deliver superior comfort that powers people everyday.

Pushing boundaries for almost 40 years, the brand’s mission is: “Embolden people to stand for themselves, through the unrivalled comfort of the world’s most wearable,

COVER STORY Our success is fueled by comfort innovations that redefine the underwear category. We constantly strive to continue on this path and deliver unrivalled comfort that powers people everyday.” everyday, innovative bodywear.” The brand’s vision is to be the world’s most revered everyday comfort brand.

Seamless comfort for women, stretch for men For Sloggi’s launch in India, they have handpicked styles from their global product basket. The ZERO Feel series for women, offers seamless bras and briefs to bodywear lovers across the world. “These offer pure, unadulterated contentment without any restrictions, seams, wires and skin marks,” says Sivaramakrishnan. For men, the brand offers the Sloggi GO range of supremely soft and stretchy bodywear that adapts to every shape and move. “The Start series in this range features high quality fabrics with simple flattering cuts while the EVER series enhances the body with its smart tech features. The S by Sloggi a premium range offers understated yet elegant styles,” explains Sivaramakrishnan. Comfort is the USP of the brand as Sivaramakrishnan says “We focus on what really matters: Comfort,” and goes on to add, “We put comfort first, second and third in everything we do. Understanding people and

their bodies in a real context, we can deliver innovations in comfort that truly change the category.

Standing bodywear

out

with

innovative

In its launch year itself, Sloggi sold 1.5 million briefs unleashing the world’s first core-spun bodywear product that made it the number one underwear selling brands in Europe. This was followed by the first men’s collection in 1986. “In 2004, we went seamless with original laser cut technology that eliminated the need for elastic waistbands and leg seams,” adds Sivaramakrishnan.” In 2015, the brand launched sloggi Zero Feel in Japan while in 2017 it launched WOW Comfort, a bra with Fleximesh® technology that eliminated the need for the underwire. In 2018, Sloggi launched its first global campaign ‘Unfasten Yourself,’ to introduce the new ZERO Feel range. “This was followed by our first unisex campaign featuring ZERO Feel for men and women,” says Sivaramakrishnan. In 2019 and 2020, Sloggi introduced the ground breaking bra innovation ‘Oxygene Infinite’ that offers extreme cosines. Indeed, the brand has been pushing the boundaries of comfort for almost 40 years. “Our mission is to create the most innovative bodywear in the world. It is the very essence of our brand, our raison d’etre. It’s the drive to everything we do, to how we do it and why we do it,” opines Sivaramakrishnan.

Targeting young India With its India debut, Sloggi aims to become world’s most revered everyday comfort brand. The aim is to target 18 to 35 year old urban men and women with means to invest in high-

Santhosh Sivaramakrishnan, Commercial Director, India and Sri Lanka, Triumph International quality premium innerwear. With a strong presence in Indian market due to Triumph whose distribution spans 80 cities and over 1,000 points of sale. The target is to launch over 1,000 s consumer experience points (POS) across India in the first two years. “We are already present in all the retail formats as in the MBO’s and also plan to launch a few retail stores with partners and then expand into large format stores,” informs Sivaramakrishnan. In additions major cities they are also retailing through top stores in Pune,

46 COVER STORY “Our mission is to create the most innovative bodywear in the world. It is the very essence of our brand, our raison d’etre. It’s the drive to everything we do, to how we do it and why we do it.’’ Ahmedabad, Chandigarh and Patna, Sloggi believes, “the definition of Tier II and III cities has undergone a drastic change post pandemic. Hence, we aim to cover key cities irrespective of their size and according to demand-supply equation,” he observes. The brand is also strongly focused on the millennial generation that consumes most of its media digitally. It follows a digital first communication strategy with all campaigns optimized for digital platforms. “Apart from social media and digital presence, we also actively collaborate with influencers,” he says. Sloggi is also present on leading e-commerce portal Amazon and plans to expand into other major portals. “In the next two years, we plan to strengthen our e-commerce operations and expand our omni channel footprint..

India innerwear market ready to experiment Sivaramakrishnan believes, a large part of the Indian innerwear market is still highly dominated by low, economy and mid-market domestic suppliers. “However, the entry of foreign players is slowly changing the way the industry operates. Earlier the innerwear segment was not bold in advertising and product display. Consumers were not brand conscious and there was limited brand presence in both organized and unorganized sector,” he opines. In the past few years, increasing awareness about personal care and modern consumer approach has led to a huge change in consumer behavior, especially in the men’s and women’s innerwear category. “Women’s innerwear segment has seen a marked evolution while men are looking for more comfort, functionality, and style besides ensuring their innerwear matches the outfit and occasion. These aspirations of Indian men and women along with increasing disposable incomes will ensure higher consumption of premium brands in India,” adds Sivaramakrishnan. “Growth in organized retail also offers better buying opportunities to Indian consumers besides pushing brands to upgrade their retail imagery with increased marketing spends,” sums up Sivaramakrishnan.

50 LEAD STORY

‘We are upbeat about the upcoming season’ One of India’s most favorite fashion brands, Stori Fashions has always been in the forefront with its innovative offerings for the last 23 years. The company blends perfection with innovation through three brands: Stori, Dagerrfly and Redflame. Manoj Kumar Bhaiya, Managing Director talks about the three brand’s offerings, innovations and future plans.

How do you foresee the post pandemic era for your brand and what your plans?

• Stori’s new collection boasts of a color palette ranging from masculine mid tones to frosty pastels, active-inspired bights and urbane neutrals.

The retail industry, which faced uncertainties and challenges during the pandemic, is slowly returning back to normal. However, it is difficult to predict consumer behavior even after restrictions are lifted as the fashion industry has never been affected in such a massive way. India has rebounded faster than expected with bookings for S/S 21 season being extraordinary. We had a better penetration in Tier III and IV cities keeping up with the momentum in Tier I and II cities. Luxury consumers are slowly gravitating towards quality and genuine value, which will have a lasting impact on the industry. Sales, that had dropped initially, have recovered to almost pre-COVID levels.

• Is launching innovative stretch ideas i shirts, T-shirts and trousers.

How different will things be in retail and manufacturing? What kind of growth rates do you expect this year? The economy has performed better than expected with forecasts being upgraded many times. We expect the same growth rate to prevail in retail as indicated from the S/S 21 orders placed by retailers. However, the

• Last year, it launched an efficient B2B application for 5,000 plus retailers • Plans to introduce unique fabrics with interesting textures outlook for manufacturing remains challenging as factories have not yet started working with their full capacities. They are gearing up to fulfill upcoming demand. The pandemic caused some disruptions in business last year. However, we expect good growth this year as market conditions are favorable.

Tell us about your upcoming collection and expansion plans. Recognized as India’s most preferred apparel brand, both for its style and comfort, Stori attracts younger, more fashion- focused customers. Our brand goes through many changes every season as the market, trends, and the idea of fashion keeps changing. Our new collection is influenced by consumers’ desire for timeless styles and superior comfort complimented by upcoming trends.

“The themes for this season include lightness and comfort along with flexibility, pliability and the ability to transform quickly. Stretch fabrics are likely to play an important role.” What are your reflections on the current status of garment industry? The Indian textile and apparel industry has become a part of global supply chain with a wide variety of fabrics and technically skilled workforce. As a brand we are optimistic about future opportunities. Last year, when the apparel industry was at a standstill, we launched an efficient B2B application for our 5,000 plus retailers. This helped them

LEAD STORY “India has rebounded faster than expected with bookings for S/S 21 season being extraordinary. We had a better penetration in Tier III and IV cities keeping up with the momentum in Tier I and II cities. Luxury consumers are slowly gravitating towards quality and genuine value, which will have a lasting impact on the industry. Sales, that had dropped initially, have recovered to almost preCOVID levels.” view our collection and place orders as per requirements. We aim to continue focusing on this connectivity with retailers and drive customer loyalty by responding to their demand.

Elaborate on your collection for the upcoming season? Our new collection boasts of a color palette

ranging from masculine mid tones to frosty pastels, active-inspired bights and urbane neutrals. Modern customers expect their clothes to be fashionable and well-fitted. They expect richer fabrics with better trims but at the same price. Our new collection promises to address all these expectations.

What is your style statement and is your collection inspired by any theme? While style is more about being yourself, fashion is the packaging of your entire personality. Though modern with a universal essence, our new collection has a local connect. It is a combination of classic and current, is colorful, fun, easy, confident but accessible at the same time. It is inspired by nature and reacts to different summer tones inspired from the depths of sea and sunshine.

What are your innovations this season in terms of style and cuts? This season, we are launching innovative stretch ideas in shirts, T-shirts and trousers. We also plan to introduce unique fabrics with interesting textures and different looks.

What are the key fabrics trends for the season? Performance blended fibers are much in demand. There is also a growing affinity for merged floral prints and dense checks in men’s shirts. The themes for this season include lightness and comfort along with flexibility, pliability and the ability to transform quickly. Stretch fabrics are likely to play an important role.

Who is your target group and what is your brand’s USP? Stori caters to classic formals men’s wear. Our brand’s USP is superior fabrics at

Manoj Kumar Bhaiya, Managing Director, Stori Fashions

competitive prices. We have three brands: Stori, Red Flame and Dagerrfly. Stori offers formal, sport and club wear shirts with formal and cotton trousers. It contributes 30 per cent to our total sales. Red Flame generates almost 60 per cent of our sales and offers shirts, trousers, T-shirts, blazers, shorts and track pants. Dagerrfly offers finest denim for men. It is expected to contribute around Rs 25 cores to our sales in the next financial year. Prices for Stori and Redflame start from Rs 795 while Dagerrfly prices begina at Rs 1,299.

Elaborate on your new product launches We plan to extend the urban street category in Redflame. Over the years, Stori has emerged as one of the most trusted and sought after apparel brands in the country. We are upbeat about the upcoming season as retailers have shown good confidence in our collections.

52 POST COVID

Post - COVID Reactions Getting back on their feet After the disaster, the recovery. This new reality has caused unprecedented disruption and, in many cases, catastrophic ramifications for thousands of garment businesses across the world. Brands are emerging from the ordeal, trying to make a fresh beginning. Innerwear leader TT is expanding its casual wear brand HiFlyer, focusing on new colors and styles to remain relevant to its target audience. The plan includes hiring more field staff. TT in any case offers value for money basic innerwear and casualwear that are always in demand. Spykar will continue building on its efficiency and optimising costs and creating a wider product assortment. Yufta is optimistic that the worst is over and is forging ahead with its plans. Mustang sees the Covid-19 crisis as a natural incentive to accelerate technology innovation since the various needs and desires of consumers that brands built their businesses around ended overnight.

Nick Everitt, Director of Ddvisory, EMEA, Edge

Sanjay Jain, Managing Director, TT

Luxury consumers are slowly gravitating towards quality and genuine value, which will have a lasting impact on the industry. Sales, that had dropped initially, have recovered to almost pre-COVID levels.

Lubeina Shahpurwala Mastang Enterprises

The pandemic has changed retail across the world, especially with the huge push for online shopping, and consumers shifting to digital channels due to the lockdown. An analysis by Nick Everitt, Director of Ddvisory, EMEA, Edge by Ascential looks at what actually changed last year and how should retailers ensure continuity and for their e-commerce reveals a year where bricks and mortar e-commerce gained significant share, as retailers were forced to increase capacity overnight with demand switch from stores to online, reports UK-based Retailtimes.

Sanjay Vakharia, Lifestyles

CEO,

As we offer value for money basic innerwear and casualwear that are always in demand, we have done reasonably well post lockdown. Post pandemic, we aim to grow 20-25 per cent by expanding our casual wear brand HiFlyer. In innerwear, we plan to focus on new colors and styles to remain relevant to our target audience. We also plan to hire more field staff. TT LTD

Manoj Kumar Bhaiya, Managing Director, Stori Fashions

Spykar

Partner,

Taking our current market position in view, we aim to make smart strategic decisions by focusing on our strengths. The shopping needs of consumers have changed. They are focusing more on the ‘must haves’ rather than the ‘nice-to-haves.’ Hence, it is very important to understand their needs and deliver accordingly.

Ravi Khandelwal – Owner - YUFTA

Now the pandemic is alomo.t over, and we found most of the things are on track, so we also pusing our plans as normal.

Post pandemic, Spykar aims to continue building on its efficiency to tide over the aftereffects. We will mainly focus on optimizing costs and building a wider product assortment. Our teams have created miracles during the pandemic and we would like to continue with the good work next year

How do you foresee the post pandemic era for your brand and what your plans?The retail industry, which faced uncertainties and challenges during the pandemic, is slowly returning back to normal. However, it is difficult to predict consumer behavior even after restrictions are lifted as the fashion industry has never been affected in such a massive way.India has rebounded faster than expected with bookings for S/S 21 season being extraordinary. We had a better penetration in Tier III and IV cities keeping up with the momentum in Tier I and II cities.

54 IF EXCLUSIVE

Indian apparel players gear up for the new normal

ith the pandemic i m p a c t i n g both apparel manufacturers and retailers in India, these industry players are preparing themselves for the new normal. Speaking at a recent webinar by the Retail Association of India to discuss the effects of COVID-19 on the apparel industry Vineet Gautam, Chief Executive Officer, Bestseller India said that the challenge for the fashion apparel industry is greater as fashion products ages very quickly, especially fast fashion products, which continuously keep getting older.

Conserving cash by cutting expenses To mitigate losses, industry players are taking several measures including conserving cash, taking payments on consignments, cutting down discretionary spending and production, renegotiating rents, adapting to technology, omnichannel retail, and utilizing the leftover inventory. They are facing several challenges like managing the cash flows and keeping the cost of the working capital low. Though their factories remain unoperational, supply chain remains disrupted, revenues remain nil and consumer sentiment is subdued, they still have to pay certain costs. To tide over this, Raymond is effectively managing its liquidity flow by focusing on payment realization from the market, noted

Sanjay Bahl, CFO of the company. The company is working on measures for cost rationalization by cutting down all non-critical expenses and marketing spends. Another way retailers are managing their cash flows is by managing inventory, says Shailesh Chaturvedi, CEO, Tommy Hilfiger Apparels India. Almost 50 per cent cheques that the brand writes are for inventory, whether paying for insurance, freight and custom duty on imports, or paying domestic vendors, he stated.

Managing inventories As they need some liquidity to produce inventory for the upcoming season, they often resort to discounts to sell current stock. Clothing Manufacturers Association of India (CMAI) President, Rahul Mehta, advised retailers against resorting to such tactics. However, he viewed it better than having dead stock. Besides discounts, another avenue open for retailers is leverage demand during the upcoming festive season. They plan to use some of their current inventory for the wedding-winter season besides conservatively producing collections according to the trend at that time. It is crucial that players work closely with important stakeholders including vendors, brand partners, and mall-developers. Dalpat Jain, Chief Financial Officer at Vedant Fashion (Manyavar) revealed his company was reviewing every cost element to identify bad costs that can be cut and see if some fixed

costs can be made variable.

Future plans A recent Nielsen India survey indicated, about 43 per cent of retailers in India are likely to cut spending on discretionary items such as fashion, personal grooming, and home decor once their shops reopen. Over the next few months, these retailers will also increase focus on ensuring consumer safety as customers will be skeptical of trying a garment at a store because of the fear. Some of the initiatives that Lifestyle International plans to undertake include: installing sanitizer stations in stores and floor markers to facilitate social distancing. The retailer will also frequently steam garments and disinfect surfaces such as escalators, cash counters, card machines, shopping bags, etc, informs Vasanth Kumar, Managing Director of the company. Over 39 per cent respondents to Nielsen’s survey stated they intend to increase online shopping by more than 20 per cent .Some players plan to scale up online. Raymond launched its online tailoring initiative; the company is planning to scale this up. Lifestyle too is planning to focus on omnichannel to offer choice and comfort to customers to seamlessly transact across digital and physical stores. It has equipped itself to handle higher volumes of deliveries for its e-commerce vertical and has made adequate arrangements to cater to any surge in demand.

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After 2020 washout, apparel retailers expect summer collections to revive business

fter dismal formal and occasion wear sales, Indian retailers are now relying on upcoming summer collections to revive business to 2019 levels. As per the November report of India Ratings and Research (Ind-Ra), retailers expect a 40-45 per cent decline in FY21 revenues. They are entering the next year with a lot of caution, a better digital presence and moderate inventories, says a Live Mint report. They plan to buy things nearer to the season, adds Kumar Rajagopalan, CEO, Retailers Association of India (RAI).

Sales recovery to benefit value and online retailers Rajagopalan says, retailers expect business to recover 70 to 80 per cent next year as compared to 2019. ICICI Securities analysts expect value and online retailers to be better

placed next years. They expect apparel retail companies to witness gradual demand recovery by mid CY21. After a sharp 40 per cent year-on-year decline in CY20, revenues of apparel retailers may inch towards CY19levels in CY21, say the analysts in their December report. They also expect offline sales to recover by 70 per cent of pre-COVID levels. Apparel, footwear and accessories retailer Lifestyle expects business to recover by around 90-95 per cent by summer of 2021. The retailer plans to add fresh new stock every month besides placing orders for its summer collection. Their summer season was a complete washout as it could not register any sales during the two-and-half months. However, the retailer shifted some of its summer stock into winter and was able to register sales in some categories. The retailer now aims to make a fresh start with

a completely new stock month, says Rishi Vasudev, Chief Executive Officer.

Expansion policies to continue in 2021 The pandemic forced most retailers to cut back on their festive and winter wear orders and liquidate their summer inventory. Retailers also had to shut some of their loss-making stores, defer their expansion plans and renegotiate their rents. Some of these policies will continue to be followed in 2021, especially by brands using digital mediums, says Rajgopalan. Looking at optimistic demand during the recent festive season, retailers have already started purchases for S/S’21 collections, inform analysts at ICICI Securities. This year, the brand has been more conservative in its purchases and bought lesser inventory now. It plans to fill in stock as the season approaches.

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Brands realign strategies to remain afloat during the pandemic

hile 2020 was full of hardships for brands and retailers with store closures, major dip in both sales and revenues, many struggled while others looked for ways to stay afloat. In all this madness brands came up with new strategies to survive. From antiviral collections, home apparel line to shop-on-wheels at resident welfare associations and appointment viewing, besides doorstep delivery fashion and lifestyle brands rolled out new ways to reach and connect with customers.

Innovative customer approach As Ajay Kapoor, President-retail, Fabindia explained to BrandWagon Online, “It is all about unlearning what has been learnt in all these years and learning new tricks of the trade.” Fabindia’s business has recovered 60 to 70 per cent while online sales have doubled over the last six months. The brand launched its ‘White glove service’ through which it reaches loyal customers with online customised catalogues and look books to order products delivered at their homes. The aim is to be present wherever the customers are. Other brands too have come up with innovative ways to connect with customers. Peter England introduced a collection of workwear, loungewear and face masks with virus-resistant technology ‘HeiQ Viroblock’ in collaboration with Switzerland-based HeiQ. Manish Singhai, COO, Peter England, believes most of these products will remain relevant in future. She feels the deep cultural change that took place during the lockdown in consumer habits is likely to stay for a long time. “Moreover, wellness series of products as well as health

products are going to gain prominence in the future,” she told the Financial Express, with work from home becoming the new normal, casual, comfortable clothes will be in demand for a long time.

Online retail in focus Peter England’s online sales have doubled since Covid-19. In fact, most brands have seen a spurt in online sales and hence have increased marketing spends on online platforms. For example, High Street Essentials clothing brands FabAlley and Indya are looking to only spend online till the first quarter of FY22. As Tanvi Malik, Co-founder, FabAlley and Indya explains, within digital, performance marketing

will contribute about 90-95 per cent of the company’s spend and 10 per cent will be spent on brand building on digital. The company’s online sales are almost 120 to 150 per cent higher than last year. Having understood the importance of online sales the company looks to sharpen its focus on the medium. Practices like same-day refund and exchange process; communicating real-time delays in orders through association with logistics intelligence platform Clickpost are some ways they are looking to gain customer’s trust. The bottomline therefore, is reinvention keeping new realities in focus. Fashion as of now is all about being casual and comfortable and brands need to realign their offerings as per demand.

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Demand for comfortable A and sustainable apparels to continue post-Covid The brand is indirectly connected to the bout the brand: Positive Energy online portals but are not present in the MBO, started its journey in 2006, started LFS formats.Collection : As Positive Energy by Mr. Jagdish Patel. Their stepping gears up for summer, they plan to bring in stone being kidswear, womenswear and mens wear. Gradually evolving by setting a huge range for all the three categories up strategies to enhance the brand in taking comprising of lowers, track pants, shorts, bolder steps into the trade. The brand has doctor shorts, capris, vests, t-shirts, leggings, 2 units of production with a capacity of hipsters, T-tops, hoodies, etc., all in earthy hues and regular colours like black, shades 700-800 pieces per day. The production is of blue and grey, lavender, pink, red, green, restricted to inhouse. The brand is mainly lobal apparel industry reports and cement, etc. Since the brand targets all age into sports wear, lounge wear and daily wear experts alike have highlighted the for all the three categories. The brand is groups the price tags vary accordingly. For ongoing pandemic has given a huge present in major cities in India like Gujarat, the men’s section the price varies between impetus Bihar, to comfort wear with Bangalore, sale of leggings, Maharashtra, Hyderabad, Rs. 250 to Rs. 800, whereas for the womens’ track pants, et al clocking in huge growth section it is between Rs. 95 to Rs. 750, while etc. Positive is tees yet to make a pan India sinceThe March 2020. Andforeven restrictions the kids section it is between Rs. 350 to Rs. presence. fabric used the after product is eased, loungewear have not slowed 800 . The brand is preparing itself for a pan majorlyhave hosiery procured fromsales China, Korea, down, sayMumbai. retailers. As Sanjay Jain,China CEO, PDS India presence. Ludhiana and Fabric from and Korea is majorly used told for Mint, sportswear. Multinational Fashions demand has Jagdish Patel, Owner ► shifted from formal to casual wear. “Fashion designers are predicting a move from tighter, body-fitting fashion to more loose apparel. You and I are going to see more baggies.” Numbers too reveal, loungewear sales continue to remain high. For PDS for example, in 2019 the division between casual and formal wear was around 75:25 it changed to 95:5 in post-Covid. PDS offers product development, sourcing, design and manufacturing services to top global brands and retailers like Superdry, Primark and Next, and supermarket chains like Walmart, Woolworths and Sainsbury’s. In 2019-20 alone PDS did business worth Rs 6,000 crore. As per Jain, formal wears space has been taken over by an increase in demand for athleisure, denim and loungewear.

Shifting focus boosts casual wear business Even though casual wear was always popular however, the lockdown has given it added boost. The trend has caught on with brands and retailers looking at it as a huge opportunity. PDS expects demand for athleisure and denim to dominate this year. And Jain says the trend has shifted from causal trousers to denim. Before Covid, the split was 70 per cent (causal trousers) and 30 per cent (denim), but postCOVID it has reversed. T-shirt dresses and polos are also seeing good demand in Europe and North America. Sale of casual and formals shirts are down 30-40 per cent.

Similarly, footwear retailer Bata India is looking at casual apparel category as consumer focus shifts to athleisure. As Bata Shoe Organisation’s global CEO Sandeep Kataria says the company was testing its training and fitness apparel under the Power brand. In fact, retailers are sceptical about formal clothing sales bouncing back anytime soon. Jain told Mint “The revival of formal wear is based on the assumption that the vaccine will have an impact, Covid will go away and you and I will go back to office. The trends are encouraging, but a structural shift has taken

place. There is a realization that work from home is doable.” On similar lines, Kataria feels post-Covid the culture of work from home will continue. Therefore, comfort wear will have a lasting impact. He says, Bata consumers are looking for casual footwear with comfort and casualisation driving trends.

Formal wear sales down but will pick up Even though retailers do not expect formals wear sales to recover, any time soon, they are eyeing next spring/summer season and working on collections accordingly. One big thrust during the pandemic is growing awareness about sustainability among consumers. Stakeholders in the apparel industry are now focusing on eco-friendly methods as the momentum picks up. Bata for example has factories with zero-effluent. Besides, some of its footwear brands such as Power use recycled tyres in its shoes. While awareness about sustainability is growing costs are a concern for consumers, feels Jain. Sustainable raw materials are definitely more expensive. However, with time consumers seeking shopping choices in sustainable products will grow even as their wardrobes get smaller.

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Jagdish : 9869707575 Gala No. 9, S.K.R. Compound, Opp. Ganesh Mandir, Station Road, Mahim (E), Mumbai - 4000 07. E-mail : positiveenergy924@gmail.com Website : www.positiveenergy.co.in

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Our focus is on fortifying customer relationships and partnering opportunities.

ow do you see the post pandemic era for your brand?

We see ourselves making smart strategic decisions for our brand by having a clear understanding of our position in the current environment. Who we are, our role in the current market. Our focus is on our strengths and how to build them.

We plan to prioritize operational capabilities— not external growth—over the next two years. The fashion-tech industry has been innovating and re-innovating at a lightning pace and bringing out new products to keep consumers happy and safe during the pandemic. Mostly, apparel and fashion brands are giving greater importance to hygiene and immunity. That is the reason categories like stain- and odour-resistant daily wear are now in huge demand in the market.

It would have normally taken the economy five years to get to where we stand now in terms of technological adoption. In the wake of the crisis, a shift to digital is a highly-welcomed change. Identifying key areas to focus on, finding new revenue streams, reallocating IT budgets, and partnering with a reliable technology vendor will help you gain the upper hand while reopening your business postCOVID-19.

Please throw light on your new collection for the upcoming season? Our Fall and winter 21 collections will start rolling in soon

What is your style statement? Is your collection inspired by any theme?

Consumers are still shopping, but their needs have changed. They haven’t disappeared, but the “must-haves” vs. “nice-to-haves” are different. hence it is extremely important to understand our customers.

What are your plans now as it is almost over now? We have Identified competitiveness and workforce resilience as the benefits we want most from ongoing digital transformation. Renewed Focus is on fortifying customer relationships and partnering opportunities. We have become more trusting of what technology can do, and are now pushing ahead with digital transformation.

How different are things going to be as far as retail and manufacturing are concerned? What is your expected growth rate for this year?

Also, antiviral textile technologies are fast becoming a trend and could soon become a good revenue stream for brands. To be successful post-COVID, a truly successful brand must be able to first anticipate and then meet the needs of its customers. Though there are hopes that we will slowly get back to “normal,” it’s evident that this will be our new normal for some time to come. This new reality has caused unprecedented disruption and, in many cases, catastrophic ramifications for thousands of garment businesses across the world. The various needs and desires of consumers that brands built their businesses around ended overnight. The COVID-19 crisis has acted as a natural incentive to accelerate technology innovation. What could be the focus areas for your brand’s growth?

Socks are IN. We live in a detail-oriented age.The variety of accessories and possible alterations you can make to an outfit are at an all-time high. With everyone looking for a way to stand out and make their style pop, a new piece of flair known as Socks has caught the eye of both casual and formal-wear fans in a big way. Socks are becoming more popular and with good reason. The best way to grab attention on a piece of your ensemble is to have something that catches the eye without it yelling “Hey, look at me!” finding a pair of socks to complement your look can make an outfit look fresh and exciting.That’s what’s so appealing about socks as a fashion statement, their versatility, and simplicity to apply. NA. 60% Dark (dyed colour), 20% pastel & melange, 20% bright

What are the key fabrics trends for the season in terms of types of fabrics (Cotton, Blends, Linen or others), types of Prints, design and colours? This season me have Cotton, Melange, Woollen & microfiber yarn We will be using themes like Floral, abstract, Diamond, stripes, Animal prints.

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Casualwear next growth driver for Arvind Fashions as it scales digital capabilities

xpecting online sales to cross the Rs 10,000 crore mark soon, Arvind Fashions has made huge investments in various digital channels. Not only does the company sell on all third party portals, it has also scaled up its own website, said Kulin Lalbhai, Director to the Economic Times. Currently, the company is integrating stores with online channels ramp up sales.

partnership will help Arvind Fashions explore the best of both worlds, Lalbhai feels as it combines Flipkart’s reach and analytics with Arvind’s brand building capabilities and supply chain. The partnership is already yielding positive results with territory sales of Flying Machine growing almost 70 per cent during the festive season.

Positive results partnership

The company’s offline sales are also promising, says Lalbhai. It saw healthy recovery in January sales and expects the trend to continue. It also plans to get a lot of fresh merchandise in stores from February

from

Flipkart

Having seen incredible traction last quarter, Arvind Fashions has collaborated with Flipkart to build its brand Flying Machine. The

Sales recovery with efficient cost management

onwards, he adds. Meanwhile Arvind Fashions managed to cut down a few of costs like temporary rental reductions and other costs during the pandemic. Though these costs are expected to rise again, the company has done a lot of structural cost savings, adds Lalbhai. It has not only reduced employee headcount but also cut supply chain costs. Arvind Fashions is also working on raw material costs and plans to introduce new strategies to prevent margin dilution and price corrections due to an increase in prices.

Robust revenues in Q2 & Q3 The company clocked in robust revenue growth in both second and third quarter of the current financial year and had a much better bottom line. Currently its offline sales have recovered to 70 per cent of pre-COVID levels while online sales are 230 per cent of last year. Adjusted for the Ind-As accounting, the company’s EBITDA is also much better last year’s third quarter. Most of its brands are gaining market share through sales on Flipkart and the company expects the trend to continue

Casual wear to drive future growth Lalbhai believes, current casualization trend is not a response to COVID but existed even before that. The pandemic has only accelerated this trend with workwear transforming from formal to semi-formal. He expects casual wear brands like Tommy, Calvin Klein, US Polo to continue growing and emerge stronger from the pandemic. T-shirts and polos will lead casual wear growth post COVID, says Lalbhai. He also expects rapid growth for the footwear segment in times to come.

JEANS

Girls Wear

R E G E N C Y

Near International Terminal Sahar Mumbai

66 IF EXCLUSIVE Duke’s S/S ’21 collection promotes Atmanirbhar Bharat

nspired by international fashion culture, Duke’s Spring/Summer 2021 collection endorses the Indian government’s vision of a Atamnirbhar Bharat. Featuring light floral and leafy print patterns, the collection is made from value-added materials such as cotton linen, pique, single jersey club as well as un-dyed, natural and textured materials. It offers a wide variety of T-shirts, shirts, denims, trousers, tops, jeggings, activewear, sportswear, accessories and footwear collection. The color palette is cool and airy with soft blush, lime green and pale blue balanced with sartorial burgundy, navy and many more colors. It includes cotton or poly cotton fabrics in breezy tones. The tank tops and grapic printed T-shirts cater to the fashion demands of the teens, young and fashionistas. The collection also boasts of an exciting color combination, design in stripes, prints, embroidery, patch work, short lengths, round necks. Kuntal Raj Jain, Director, Duke Fashions, explains, the range represents the brand’s continued commitment to offer a complete range of products under a single roof. It offers the season’s latest trends. “Each piece from this collection has the special ‘sparkle of quality’ on which its creators insisted,” Jain explains. The collection is based on the brand’s philosophy of making international fashion available at reasonable prices. Duke has also updated its Militaire collection’21

for men by adding a wide selection of T-Shirts, polos, shorts, lowers, Bermuda’s and accessories. The brand is a winner of the President Award and three national awards including Excellent Quality Readymade Garments, Outstanding Entrepreneurship and

Quality Garments. It was also crowned Indian Power Brand at the US. Incepted in Ludhiana in 1966, the brand connects with customers through its online operations, big chain stores and over 4,000 MBOs and 400 EBOs nationwide.

IF EXCLUSIVE Citylife Next bags Times Business Award

inner of this year’s ‘Times Business Award’ in the ‘Best in Organized Retail Value Chain Category,’ Citylife Next is a one-stop shop for trendy and affordable menswear, womenswear, kidswear and other accessories for middle and lowermiddle class segments. The retail chain was established in 2020 by Sanvie Retail, a leading organized value retail chain by the More Group. The company has been in the apparel business for over 70 years. It was set up Alok More, Chairman and Managing Director; Anand More, Director; Varun More, Director and Prakash More, Director. Sanvie Retail has a 60,000sqftwarehouse that employs over 1,300 people from across the nation. Aiming to grow by 20 per cent every year, the company intends to provide latest lifetstyle products including apparels, household items, footwear, luggage and accessories to all age groups. It currently has over 73 stores in 10 Indian states.

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India’s retail outlook stays strong with positive government initiatives

nd IBEF report suggests India is the world’s fifth-largest global destination in the retail space. The entry of top players has made the sector one of the most dynamic and fast-paced with total consumption expenditure expected to be worth $3,600 billion by 2020 from $1,824 billion in 2017. It accounts for over 10 per cent of the GDP and around eight per cent of employment. As per United Nations Conference on Trade and Development’s Business-to-Consumer (B2C) E-commerce Index 2019 India stood 73rd and is the fifth largest global destination in retail spaces; 63rd in World Bank’s Doing Business 2019.

A promising and growing market The IBEF report highlights India’s retail sector was worth $950 billion in 2018 growing at CAGR of 13 per cent and it is expected to reach $1.1 trillion by 2020. Online retail sales were forecasted to grow 31 per cent annually

to $32.70 billion in 2018. Revenue were projected at reach $60 billion by 2020. Revenue from brick and mortar retail was expected to reach Rs 10,000-12,000 crore ($1.39-2.77 billion) in FY20. And as per consulting firm RedSeer’s study the retail sector was expected to recover 80 per cent of pre-Covid revenue ($780 billion) by end-2020. In fact, after a 19 per cent drop in the JanuaryMarch 2020 quarter, the FMCG industry recovered in July-September 2020 quarter with a y-o-y growth of 1.6 per cent. As per Department for Promotion of Industry and Internal Trade from April 2000June 2020, the retail sector received FDI equity inflow worth $ 2.17 billion. In 2019 PE funds worth $970 million were channelled to the retail sector. Many global PE funds have been attracted by Indian retail for example, in September 2020, US private equity firm Silver Lake announced plans to invest Rs 7,500 crore ($1.00 billion) in Reliance Retail, the second billion-dollar investment by Silver Lake in a

Reliance Industries subsidiary after the $1.35 billion investment in Jio Platforms in 2020. Walmart Investments Cooperative invested Rs 2.75 billion ($37.68 million) in Wal-Mart India. And what given the sector an edge are the various government initiatives to improve the industry. One of these is allowing 100 per cent FDI in online retail and services through the automatic route, thereby providing clarity on the existing businesses of e-commerce companies operating in India. As ecommerce expands in the country, retailers need to leverage digital channels, which would push them to spend less on expensive real estate while reaching out to more customers in smaller cities. By 2021, traditional retail is expected to hold 75 per cent share with organised making up 18 per cent and e-commerce 7 per cent of the total retail market. The long-term outlook for the industry is positive, with rising income, favourable demographics, entry of foreign players, and increasing urbanisation, sums up IBEF.

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Shopping malls slowly recover as footfalls inch towards pre-Covid levels

ear 2020 was a tough one globally for people and businesses alike. With long stretches of lockdowns, and people confined at home, life almost came to a standstill. However, with the successful launch of a few vaccines there is some hope and positivity in our fight against the global pandemic. The Economic Times took stock of the damage that COVID-19 inflicted on the country’s shopping malls and concluded “With some confidence, we believe, is that a significant amount of the ground lost by shopping malls in India during the lockdown has already been recovered.” However, the report did highlight its little early to come to clear date of return to “normalcy” for shopping malls or what the new normal will look like. .

Malls on way to recovery The report relied on personal mobility data or device data from smartphone usage. This real-time data gives an insight on changes in visitation patterns. While GapMaps device data gives clear understanding of the impact on footfalls – both before the lockdown and in the various phases of unlock. The aggregate findings from 24 leading malls across India, most of them in Tier-I cities shows quick drop in footfalls in all malls across cities to zero or almost zero in the weeks starting March 23, due to the lockdown. This continued till mid-June when traffic started moving north after partial unlock. And the festive season, saw footfalls reach 60 to 70 per cent of pre-COVID levels in some malls. And in mid-November, levels were trending at 30 to

60 per cent of pre-COVID levels. The data also reflects as customers returned, their visitation habits and the duration of visit, slowly picked up to pre-COVID levels on an average 80-90 minutes in most cases, compared to 50-60 minutes in March and June.

Local malls were the preferred destination One global trend that has emerged from the lockdown is that shoppers are now more inclined to focus on shopping centres closer home. The Economic Time report suggests, “for regional malls, which typically thrive when

able to attract customers from a broad region, this change in behaviour, if permanent, spells potential problems.” The study also highlights the pandemic changed the mindset of shoppers on the distances they are willing to travel. In most cases only 15 to 30 per cent regional mall customers travelled two kilometres or less in April, which went up to 50 to 60 per cent. However, in October, the proportion went back to almost pre-COVID levels where customers were more confident to travel greater distances to visit their favourite malls.

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Pressure on rentals to continue post March 21

he uncertainty on rental negotiations in FY22 continues, brand and retailers feel the support on rentals should continue as long as it is required, as the retailers fear extension of Covid-induced SOPs, social distancing norms, and an overall reduction in physical interactions. And, on the other hand, consumption across India on an average has barely touched about 50%, buying has also slowed down after pent up demand and festival seasons is over. As per a December report by BCG on how India shops, spends and saves in the new reality, “In apparel, purchase decision was primarily triggered by social/celebratory occasions (accounting for 42% of triggers). However, the single largest trigger now is functional — clothes for home workouts, an additional pair of jeans due to daily washing, worn-out innerwear replacement, etc.

Discussions already on for rentals in FY 22 “We are already having discussions now to plan for the next financial year. Going ahead, we don’t not rule out a rental correction — about 15-20% lower than what it was pre-Covid, as the situation in metros is definitely quite bad as compared to small towns when it comes to mood and sentiment,” quoted Siddharth Bindra, MD, Biba in Financial Express. Olive group of restaurants founder AD Singh, too, expressed similar concerns. He said the way forward on rentals would depend on prevalence of the virus and comfort of people in stepping out “which is quite unpredictable”. Support on rentals should be given as long as it is required.

Mall operators awaiting government action plan Mall operators too are waiting for more clarity as footfalls would now be determined only

after government rolls out the immunisation programme to check the pandemic. On the rentalfront, mall owners who had extended slab-wise discounts till March, say that rents are already down by as much as 25% in some places. Omaxe president (retail), Benu Sehgal said Covid has had a painful impact on all rental properties and in some cases, rental income has dropped by as high as 25%. While some retailers have shut stores, others operated with renegotiated rentals. Increased consumer spending witnessed in last few months coupled with the news of vaccine, demand is likely to spill over to coming quarters of next year with new collections, with expectations of shoppers returning to malls, all this has reignited hopes of a bounce back in rentals , which may be a concern with brands and retailers and engage in negotiations with mall owners already stressed with existing discounts in rentals.

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Apparel demand to recover in FY22: Ind-Ra

ndia Ratings and Research (Ind-Ra) estimates a demand recovery for the apparel sector in FY22 while it expects 40-45 per cent decline in FY21 revenues. As per a Live Mint report, the agency also estimates a threefold jump in online sales for retailers in the current fiscal. For the third quarter, Ind-Ra, a part of the Fitch Group, expects apparel sales to touch 80

per cent of pre-COVID levels, with food and grocery retail hitting more than 100 per cent. The agency predicts an obvious significant shift in consumer shopping habits with more consumers buying goods online. Ind-Ra expects sales made through the online route to increase by a factor of more than three in FY21. Companies have focused on a strong digital footprint with increased investments

in developing their own websites and mobile apps, while also partnering with online channel partners to fuel growth, the agency said. As a result, business via own websites or through online marketplaces is expected to increase to 10-15 per cent of total sales by FY22, up from 2-4 per cent, faster than the earlier five-year timeline predicted to reach this volume.

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Social commerce to be the major driver of e-commerce in India

roviding much needed boost to the Indian e-commerce industry, COVID-19 has accelerated the use of technology amongst fashion companies. As an Economic Times reports suggest, companies are adopting new business models to offer customized and interactive shopping experience to customers. One such emerging business model is social commerce which combines the benefits of social media and e-commerce. A recent survey by PayPal social commerce is projected to become a $100 billion vertical e-commerce by 2025. Growth is being mainly being driven by the use of videos on social media platforms such as Instagram and Snapchat. Regional social networking platforms such as ShareChat and Roposo are also stimulating growth by offering content in vernacular languages. In the last few months, there has been a spurt in homegrown social commerce startups. Big e-commerce players like Flipkart are entering the social commerce space to target consumers in Tier II and Tier III Indian cities. Indian social commerce market is largely driven by consumers and sellers from smaller

cities. Most customers of social commerce players such as Meesho, Shop 101, Bulbul are based in Tier II and III cities. Another factor driving Indian social commerce is the increasing number direct-to-consumer brands. As per a Unicommerce trends report, the number of brands developing their own websites has grown 65 per cent in 2020. Smaller retailers are also marketing their products on social media platforms such as Facebook, WhatsApp, Instagram, etc.

WhatsApp, AI tops business users in India A large number of businesses are using messaging apps such as WhatsApp to conduct their business. It is one of the most lucrative platforms for small and medium sellers in India. Around one million sellers use WhatsApp in India for conducting their businesses. Companies are building WhatsApp chatbots for retailers to help them manage a large number of orders. Artificial Intelligence (AI) has also become a major growth avenue for retailers and brands. They are now experimenting with both marketplace and reseller models with the help of AI & automation. Chatbots are being created

to help consumers shop directly on WhatsApp. AI tools like simplified product searches, recommendation systems for consumers are helping brands achieve an elevated level of customer satisfaction.

Collaboration with logistic service providers a key growth factor Inventory management being an important part of the industry, social commerce players need to collaborate with logistic service providers to ensure maximum reach, timely delivery, and low returns. Over the years, these players have been successful in providing a sales platform for small and medium scale sellers by exploring artificial intelligence/ machine learning algorithms. AI solutions have also helped these players manage shipments besides providing them with regular delivery updates. Social commerce also helps smaller sellers become more efficient by providing them with an integrated view of their inventories and orders. The use of this technology is poised to grow with time with social commerce becoming major driver of e-commerce growth in India.

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India to be the next global e-commerce market

roving to be the black swan event, COVID-19 has given a massive fillip to the e-commerce sector in India. Reports suggest, the Indian e-commerce market contributes roughly about 4 per cent to the GDP. It is a fast evolving trend that has encouraged many foreign businesses to expand operations in India. The sector has also created job opportunities in the process, SMEs, agricultural enterprises, finance, banking, fashion, beauty, marketing and advertising, FMCGs, general merchandise, trade, health and education segments. It has revealed decades worth digitization trends in a short span of time.

E-commerce giants eye rural India, small towns India’s e-com ambitions are depicted through prominent collaborative initiatives like the Atal Innovation Mission (AIM), the NITI Aayog joining CGI India and Tata Group talks with Big Basket for a 20 per cent stake. To enhance earnings for the festive season, both online and offline retail businesses have started collaborating with each other. They plan to make offline purchases more costeffective, time-bound and disciplined. To explore these opportunities, e-commerce giants have started eyeing rural India and small towns. The Indian banking sector has started using emerging technologies like Artificial

Intelligence (AI) and Machine Learning (ML) for corporate loans, for productive lending. Lending to MSMEs remained stagnant for the last so many years but now, banks are likely to develop models to actively support MSMEs, thereby also improving their own balancesheets.

A multi-crore business opportunity India’s craze for online gaming has transformed into a multi-crore business with Indians of all ages turning into gamers. The Indian gaming industry is flourishing with celebrity endorsements, regional language interfaces and sponsorship money. However the industry faces a few formidable challenges like the constant fear of cyberwarfare and issues related to data privacy. Another challenge is the massive power outage in India’s financial capital which impacts many businesses across sectors like information technology, banking and financial services and fin-tech sectors. The industry also needs to meet divergent views brewing over a spectrum band between Telcos and tech companies. The government recently reprimanded Amazon and Flipkart for not displaying the country of origin of some of the products sold on their platforms, threatening action if they did not explain themselves within 15 days.

Regulatory hurdles

Other challenges include complying to regulatory hurdles with different digital platforms requiring distinct regulations; a group of Indian startups planning to move the Competition Commission of India against the company; global digital tax war metamorphosing into a trade war that could potentially slash global GDP every year. OECD’s postponment of a common tax framework may lead to Google, Facebook, Amazon, LinkedIn and Netflix facing a larger domestic tax liability, a move that will allow countries like India to have their own plans of taxing the digital giants.

Indian e-commerce advantage Thus, India can be global data and investment hub for the e-commerce sector. The country offers many benefits for e-commerce businesses like a growing demand, attractive opportunities, policy support, increasing investments and the competitive advantage of developing special skill sets for this sector. Therefore, the government, industry and research bodies need to create a strong network and sustainable bandwidth. The success of e-commerce is dependent on many variables, like adequate customer support, multi-channel marketing and user-friendly platforms. Users should have appropriate devices, uninterrupted power supply and strong network connectivity.

74 IF INSIGHT

Direct-to-consumer brands target $100 bn turnover by ’25

vendes Capital, the leading investment banking arm of financial services firm Avedus Group expects, COVID-19 related restrictions will prompt consumers to discover new Direct-toConsumer (DTC) brands that may collectively achieve $100 billion turnover by 2025. In fact, over 600 DTC brands have entered Indian market since 2016. These include: Lenskart, Zivame, Boat, Wow Skin Sciences, Mamaearth, among others. The sector is likely to witness consolidation in the next three-tofour years with many large consumer goods companies buying D2C brands.

An equal mix of retail channels Starved for variety, Indian consumers have largely turned to online shopping, says Pankaj Naik, Co-head, Digital and Technology Investment Banking Practice, Avendus Capital.

He feels, horizontal and vertical e-commerce players, social media marketing, plug-andplay supply chain and logistics options have created a strong ecosystem for these brands. However, to add more customers, they would have to reach more households and provide an equal mix of online and offline retail channels. Growing at 4 per cent annually, the Indian e-commerce market is expected to be worth over $200 billion and shift to organized retail in the next five years, says Avendus. The market is currently dominated by unorganized small players. With COVID-19 accelerating the adoption of online shopping, DTC brands in the beauty and personal care category are emerging strong contenders. Another category where DTC brands can make their presence felt is the foods and beverages category. Leading DTC brands in these categories have witnessed over 100 per cent growth to pre-COVID levels. The

pandemic has accelerated sales of DTC brands in India. It has strengthened their entire ecosystem from logistics to warehousing.

Limited scale and false targets pose challenges However, despite their popularity, DTC brands also face certain challenges. One of them is their limited scale. Indian consumers still prefer offline shopping over online purchases. For such consumers, DTC brands should open physical stores, once they achieve a certain turnover, adds Sreedhar Prasad, Bengalurubased independent internet business expert. Moreover, they should target the right group of consumers. With some brands being into nutrition or healthy food products, they cannot depend on earlier target groups which classified consumers on the basis of their age or socio-economic category.

IF INSIGHT

Consumer confidence to boost spending across categories: McKinsey

s per a new McKinsey survey, Indian consumers’ newfound optimism would result in increased spending across categories in the months to come. The survey found most consumers have been trading down or buying less expensive goods while they go for a shopping. Also, the brand loyalty has gone for a toss. However, the intent to spend has increased by 30 per cent, says the report. About 58 per cent of Indians reported being optimistic about economic recovery in the next two to three months; about 32 per cent think it would take about 6 to 12 months while 10 per cent reported being pessimistic about the recovery. As per the survey, only Chinese consumers are as optimistic as Indian ones 58 per cent consumers being optimistic, 38 per cent being unsure and 4 per cent being pessimistic.

COVID provides much needed boosts to Indian e-commerce industry

he pandemic has brought in a shift in consumer behaviour, providing a major fillip to India’s e-commerce industry that is now poised to touch $90-100 billion in the next 3-4 years. While challenges brought in by the pandemic impacted businesses, many new avenues also opened up. The opportunities that modern retail present are significant for businesses of all sizes, including the kirana ecosystem. E-commerce

platforms are also doing its best to help small businesses and artisans embrace the power of technology and be a part of the modern retail opportunity. E-commerce has been gaining traction over the years and in 2019, more than 10 per cent Indians had already shopped something online. This trend was further accelerated after the lockdown forced people to stay indoors. Many turned to online platforms for buying grocery and other essentials during this time and have continued to do so after

the lockdown was lifted. Almost 100 per cent pin codes in India have seen e-commerce adoption. This includes categories like fashion, appliances, furniture, etc. More than 60 per cent of transactions and orders in India come from tier two cities and smaller towns. Industry experts still believe that they are scratching the surface when it comes to e-commerce adoption in India. Out that only 3.5 per cent of Indian commerce is online as compared to more than 25 per cent e-commerce adoption in China, and other developed economies that have 10-25 per cent adoption rates. COVID-induced spike in e-commerce has actually changed several categories, there is a new normal. And the meaning of essential categories has also completely changed. It is believed that Indian e-commerce economy has seen a permanent shift for the positive. Over the next few years, Indian e-commerce economy will be bigger than modern retail today. The pre-COVID growth rates of e-commerce were roughly 26-27 per cent but if you look at the post-COVID estimates, it has gone closer to 30 per cent. In the next three to four years, what the industry was estimating the e-commerce market size was roughly in the range of about USD 50-60 billion, today, the same numbers are actually close to USD 90-100 billion.

76 IF INSIGHT

Brands build momentum within the industry with new AI tools

eing woven into every aspect of the industry, artificial intelligence is fast becoming an essential survival tool for fashion brands across the world. As McKinsey in its annual State of Fashion report says, AI startups with fashion and retail focus are being increasingly sought after as brands and retailers have shifted focus from brick and mortar stores to online sales.

New AI tools As per a Live Mint report, Gurugram-based TryNDBuy, which deployed vision-based virtual layouts during the pandemic, has now gone live with brands such as Jack & Jones and Vero Moda. The retailer has engaged Zalora, a leading fashion e-tailer in Southeast Asia. Similarly, Bengaluru-based AskSid, has introduced a chatbot known as AI bot that has helped reach a meaningful level of digital interaction with customers. The chatbot has helped the company achieve a big spike in revenue this year besides accelerating global expansion. From April-October 2020, the

company’s revenues jumped almost 50 per cent, adds Sanjoy Roy, Co-founder and CEO. AskSid currently operates in 23 countries, supports 15 international languages, and has also expanded into FMCG brands, including a top paints MNC. It recently advised a client to enter the Norwegian and Australian markets while it helped another whey protein seller shift its marketing focus from bodybuilders to people suffering from ailments such as arthritis and diabetes.

Inducing a shift in consumers’ shopping behavior Data and analytical tools like AskSid’s new AI tool help brands track shifts in demand across geographies, categories and channels. They helps brands penetrate deeper into retail analytics of their products. Tools like TryNDBuy induce consumers’ to shift their purchasing behavior from brick and mortar stores to online. They also help brands expand their product and consumer base. For instance, ‘Try Now’ icon introduced by Vero Moda in its New arrival houses a virtual trial room that offers consumers an opportunity to

edit the body shape in full-screen mode. Supported by the international VC SOSV and Taiwan-based MOX, TryNDBuy has bagged nine US patents for its computer vision modeling methods, says Nitin Vats, Founder and CEO. The MOX software has helped the startup expand into Southeast Asia by deploying its product in India. The startup is currently working on a virtual makeup solution. Chinese apps, Youcam and Meitu, provide virtual makeup on real-time videos. However, these apps are currently unavailable in India. Makeup brand L’Oreal has also launched a solution named ModiFace that is currently limited to its own products. AI-based startups face a unique challenge of attracting clients currently bombarded with such a plethora of virtual tryout solutions. To be successful, these startups can launch strategic tie-ups like the one introduced by TryNDBuy with Technopak Advisors. These can help them demonstrate their products before some of the leading brands and build momentum within the industry.

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IF IF EXCLUSIVE INSIGHT Louis Vuitton emerges the most sought after brand: UK study

s per a study based on Google search data, luxury leather goods brand Louis Vuitton tops the list of most sought-after brands in 47 countries worldwide. Compiled by Money.co.uk, the study ranks Gucci in second place as the most popular fashion brands in 13 countries, far behind Louis Vuitton. The Italian brand — which made the news several times this year, notably with the launch of its mini-series codirected by Gus Van Sant — tops searches in Japan, Mexico, Peru, Bolivia, Colombia and Italy. In third place, Chanel is the most popular brand in 12 countries. The French fashion brand doesn’t take the number one spot anywhere in Europe, but storms ahead in Asia, notably in Bali, Hong Kong, Indonesia, Laos and Thailand. Calvin Klein tops the list in 11 countries, including Russia, Ukraine and Chili. Coach takes sixth place and is the most popular label in Brazil and Saudi Arabia, while Loewe — further down the top 10 — is a favourite in the US and Canada.

Dior emerges as the largest luxury investor in marketing

Dior is the undisputed winner in Launchmetrics survey of luxury industry’s marketing investments in aiding global markets. As per the survey, Dior’s marketing investments increased 3.6 per cent to $618.4 million in Q4 compared to the third quarter of the year. Chanel bagged second place with a marketing investment of $498.5 million, up 12.6 per cent quarter over quarter, while Gucci came in third with an marketing investment of $454.7 million, representing a 22.9 per cent increase. Louis Vuitton and Saint Laurent rounded out the top five, with marketing investments of $405.8 million and $246.1 million, respectively. Other big winners included Moncler, whose marketing investments increased by 58.4 per cent quarter-over-quarter which placed the brand in 20th place. . Dior maintained its leading position across the different regions monitored by Launchmetrics, including China, Europe and the United States. Chanel, however, took second place in Europe, third place in the U.S., and fourth place in China. Gucci remained in third place in both Europe and China, but rose to second place in the United States.

more closely associating them with one of H&M’s other priorities: sustainability. H&M’s sales in the first quarter of this fiscal declined 23 per cent in local currencies. During the fourth quarter of last fiscal, its pretax profits fell to SEK3.67 billion from SEK5.4 billion a year earlier. The gross margin fell to 52.1 per cent from 54 per cent and posttax profit dropped to SEK2.485 billion from SEK4.212 billion.

The brand’s net sales dropped by 10 per cent in local currencies to SEK52.549 billion as a strong recovery at the start of the quarter was derailed by the imposition of further pandemic restrictions. Its full-year pretax profit fell to SEK2.05 billion from SEK17.4 billion. Post-tax profit for the year was SEK1.243 billion, down sharply from SEK13.443 billion a year earlier. The gross margin fell to 50 per cent from 52.6 per cent.

M&S adds new fashion brands

H&M to focus on digital growth in FY20-21 In the first quarter of its current fiscal FY2020/21, H&M Group plans to focus more on digital growth. The brand also aims to optimize its store count by closing 250 stores and elevating remaining stores, as well as

High street retailers, Marks & Spencer is broadening the choice of fashion clothing by adding third party fashion brands to its growing list of labels available from stores. The

multinational retailer has signed partnership deals with fellow UK-based fashion houses Joules, Phase Eight, Hobbs and, Seasalt, which will kick in this coming spring 2021. M&S, suffered badly during store closures during the lockdown and sees this move as a way of attracting new customers to shops and on-line stores. In 2019, Marks & Spencer put pen to paper for their first third party venture with eco-conscious fashion brand for women, Nobody’s Child a fashion label who sell ethical fashion online. M&S has just acquired the fashion label Jaeger is partnering UK fashion label Ghost which sees them adding more choices of fashion ranges to their on-line shoppers. According to M&S, these new partnerships will complement the range of clothing and accessory items they can offer to on-line shoppers.

Store closings to continue in 2021

COVID-19 accelerated the rationalization of retail’s over-stored environment and the pace of closures isn’t expected to slow down. “We’re not done yet. It’s going to get tougher. When the volume of purchases drops dramatically after Christmas, the expenses remain,” Terry Lundgren, Macy’s former CEO, told CNBC. He says retailers who have a weak balance sheet today aren’t going to get relief in January On the upside, there will be opportunities to grow again, green shoots, from that perspective of store closures and that would be soon, Lundgren added. Before the pandemic, expansion of online shopping had dragged down in-store traffic, while during the pandemic accelerated online shift and decimated instore selling for many retailers. As much as 40 major retailers have filed for bankruptcy and more than 11,000 store closures were announced in 2020. US retail sales of apparel and accessories fell 30 per cent year on year from January through October that may lead to substantial store closure announcements and bankruptcy filings. It really comes down to how long COVID persists and if we see vaccine roll out and a lot of cases come down, people start shopping more, that will alleviate some strain on the retail sector.

78 IF EXCLUSIVE INTERNATIONAL

Bestseller launches new online brand ‘The Founded’

fter the recent announcement of the launch of women’s wear for its Jack & Jones brand, Bestseller has now revealed the launch of another new brand with the online debut of The Founded, which will take over from its existing Bestseller.com webstore. Launched by the UK-based Braveheart web design team, the innovative multi-brand platform will be a treasure trove of beloved Bestseller brands, trending pieces and relevant product creations. With a fresh aesthetic, the company said this digital destination will, as Bestseller.com steps back, start a new journey with a focus on its community by delivering considered features, personalised content and inspiring product recommendations. All current Bestseller.com customers looking for the firm’s products online will be redirected from that website to Thefounded.com. And the company said it has great ambitions on behalf of Thefounded.com but also for Bestseller.com. The firm’s namesake website will eventually re-emerge as a new and more engaging corporate website for Bestseller, replacing the current about.bestseller.com. That means telling more captivating stories about the company, its ever-increasing work within sustainability, its many new digital projects and – naturally – also the vast career opportunities the company offers both in Denmark and abroad.

Dior emerges as the largest luxury investor in marketing Dior

the

undisputed

winner

across the different regions monitored by Launchmetrics, including China, Europe and the United States. Chanel, however, took second place in Europe, third place in the U.S., and fourth place in China. Gucci remained in third place in both Europe and China, but rose to second place in the United States.

H&M to focus on digital growth in FY20-21

Launchmetrics survey of luxury industry’s marketing investments in aiding global markets. As per the survey, Dior’s marketing investments increased 3.6 per cent to $618.4 million in Q4 compared to the third quarter of the year. Chanel bagged second place with a marketing investment of $498.5 million, up 12.6 per cent quarter over quarter, while Gucci came in third with an marketing investment of $454.7 million, representing a 22.9 per cent increase. Louis Vuitton and Saint Laurent rounded out the top five, with marketing investments of $405.8 million and $246.1 million, respectively. Other big winners included Moncler, whose marketing investments increased by 58.4 per cent quarter-over-quarter which placed the brand in 20th place. . Dior maintained its leading position

In the first quarter of its current fiscal FY2020/21, H&M Group plans to focus more on digital growth. The brand also aims to optimize its store count by closing 250 stores and elevating remaining stores, as well as more closely associating them with one of H&M’s other priorities: sustainability. H&M’s sales in the first quarter of this fiscal declined 23 per cent in local currencies. During the fourth quarter of last fiscal, its pretax profits fell to SEK3.67 billion from SEK5.4 billion a year earlier. The gross margin fell to 52.1 per cent from 54 per cent and posttax profit dropped to SEK2.485 billion from SEK4.212 billion. The brand’s net sales dropped by 10 per cent in local currencies to SEK52.549 billion as a strong recovery at the start of the quarter was derailed by the imposition of further pandemic restrictions. Its full-year pretax profit fell to SEK2.05 billion from SEK17.4 billion. Post-tax profit for the year was SEK1.243 billion, down

sharply from SEK13.443 billion a year earlier. The gross margin fell to 50 per cent from 52.6 per cent.

M&S adds new fashion brands High street retailers, Marks & Spencer is broadening the choice of fashion clothing by adding third party fashion brands to its growing list of labels available from stores. The multinational retailer has signed partnership deals with fellow UK-based fashion houses Joules, Phase Eight, Hobbs and, Seasalt, which will kick in this coming spring 2021. M&S, suffered badly during store closures during the lockdown and sees this move as a way of attracting new customers to shops and on-line stores. In 2019, Marks & Spencer put pen to paper for their first third party venture with eco-conscious fashion brand for women, Nobody’s Child a fashion label who sell ethical fashion online. M&S has just acquired the fashion label Jaeger is partnering UK fashion label Ghost which sees them adding more choices of fashion ranges to their on-line shoppers. According to M&S, these new partnerships will complement the range of clothing and accessory items they can offer to on-line shoppers.

Store closings to continue in 2021 COVID-19 accelerated the rationalization of retail’s over-stored environment and the pace of closures isn’t expected to slow down. “We’re not done yet. It’s going to get tougher. When the volume of purchases drops dramatically after Christmas, the expenses remain,” Terry Lundgren, Macy’s former CEO, told CNBC. He says retailers who have a weak balance sheet today aren’t going to get relief in January On the upside, there will be opportunities to grow again, green shoots, from that perspective of store closures and that would be soon, Lundgren added. Before the pandemic, expansion of online shopping had dragged down in-store traffic, while during the pandemic accelerated online shift and decimated in-store selling for many retailers. As much as 40 major retailers have filed for bankruptcy

INTERNATIONAL

FASHION IF EXCLUSIVE POST

Tarun Tahiliani launches bridal wear range

outurier Tarun Tahiliani has launched ‘Love & Relove’, a new traditional and bridal wear range that can be redesigned and reworn multiple times. Describing the collection as ‘The India Modern Way’, Tahiliani launched the line with a series of videos showing how to style his signature opulent traditional wear with every day western and fusion wear items to create a multitude of different looks. With the slogan ‘Rewear. Restyle. Repurpose.’ Tahiliani styled lehengas with oversized sweaters, dupattas with menswear style suits, and embellished blouses with loose trousers. The collection is traditionally feminine with the bridal ensembles styled in different ways for both formal and causal occasions. It aims to showcase the relevance of luxury couture as a part of a modern, sustainable wardrobe. Setting out to create the image of India Modern, Tarun Tahiliani is a brand that straddles the present while rooted in India’s heritage of draped form and tradition of artistry. These quintessential techniques of craftsmanship, imbibed with love across generations, are made globally astute through the cut, construct and finish of Tarun Tahiliani silhouettes.

Purple Style Labs acquires Wendell Rodricks label

Resortwear label Wendell Rodricks has been acquired by Purple Style Labs, which recently also acquired Pernia’s Pop Up Shop. One of the key investors in this deal is Binny Bansal, Co-Founder, Flipkart, who alongwith Anjana Sharma, Creative Director, Purple Style Labs, will look over the entire business and day to day operations.

Only a handful homegrown fashion houses have received corporate funding—such as Satya Paul, Anita Dongre, Ritu Kumar and more recently Aditya Birla Fashion and Retail Group acquired a 51 per cent stake in the Shantanu and Nikhil label. The duo launched their prêt label, S&N by Shantanu and Nikhil, with two stores in Delhi opened and more planned. For a homegrown label to have a strong pan Indian footprint such partnerships are needed Goa-based designer late Wendell Rodricks was the pioneer of resort wear in India. He was part of a group of designers who in the ‘90s shaped the contemporary Indian fashion industry. He was vocal in his support to the LGBTQ+ community, and the need for inclusivity and diversity through his design. Rodricks also had a passionate interest in the weaves of his home state, Goa, and had breathed a new life into the Kunbi sari. Besides being a winner of the Padma Shri he had also been honored with France’s Chevalier dans l’Ordre des Arts et des Lettres.

House of Masaba increases focus on beauty with mini perfumes range Fashion and lifestyle brand House of Masaba is now looking more at the beauty segment by collaborating with Nykaa for a range of mini perfumes. The brand launched its first range

of presumes on Nykaa on December 16. Known as Burn Babe,’ the perfume featured the brand’s signature whimsical illustrations and retailed across Nykaa’s network of beauty stores as well as online. The popularity of the perfume, and the makeup line in general, led the brand to expand its collaboration with Nykaa. It’s new selection of perfumes are designed to be collected and used on the go. Known for its diverse array of collaborations, House of Masaba has launched new collections along with jewellery brand Tribe Amrapali and sari brand Ekaya, etcs. This month, the brand has collaborated with Ekaya to relaunch its collection of bold, graphic saris, which originally debuted in spring last year.

Nikasha Tawadey to retail new clothing range online

Designer Nikasha Tawadey has plans to retail its new clothing line Nika online from March this year to serve the Indian market. The range was launched recently at Design Orchard in Singapore and features relaxed fit separates including tops, trousers, tunics, and dresses in white, handwoven textiles with pops of color such as red tassels. Whimsical details such as embroidered animals add a playful element to the range of fusion wear which is designed to be suitable for everything from working from home to attending events. Tawadey has begun working with women oriented crafts clusters including weavers and social enterprises for her brand. Nika has already begun working with an organization for blind women and is contributing to training the members to make accessories . This is part of the brand’s steps towards creating a circular economy, says Tawadey.

80 FASHION POST Sabyasachi to launch pop-up at Bergdorf Goodman

abyasachi Mukherjee plans to open a pop-up shop at Bergdorf Goodman in Manhattan. As per Womens Wear Daily, the pop-up will house a 300-piece collection, including Indian wear such as saris and lehngas, fine jewelry, and more. The pop-up will be open from February 18 to March 20. The pop-up will also launch Sabyasachi handbag collection, with special bags, with embroidery and unique motifs, ranging from $234 to $1,790. It will be spread across different areas of the store. While Sabyasachi introduced his jewelry collection three years ago, it quickly became more than 40 percent of his company’s turnover and has been worn some of India’s biggest celebrities including Deepika Padukone and Anushka Sharma.His jewelry range at Bergdorf’s will start at about $5,000 and go up to $348,000.

they are involved with; and small little things around them at home or at work that define their DNA.

Amit Agarwal collaborates with Dusala for a saree collection

Antar Agni launches new project to recycle old garments

Antar Agni, the avant-garde fashion label has launched a new project titled ‘Restore Love’. The initiative aims to recycle old, damaged garments into new ones. Ujjwal Dubey, Founder, believes recycling is

essentially an Indian trait. For ages, Indians have been wearing garments passed on to them by generations. However, since the last few years, they have become used to following the West and labeling these age-old practices as ‘uncool’. However, garment circularity results in no waste as any waste produced by one segment is used as the raw material for another, he adds. His brand Antar Agni prefers using the word ‘conscious’ instead of sustainable fashion. He advises consumers to be conscious of their consumption patterns; the use of resources; attitude towards the people

Designer Amit Aggarwal has collaborated with shawl brand Dusala to create a collaborative collection of handloom sarees, capes and stoles crafted with zari. The Amit Aggarwal x Dusala collection features 15 garments in a range of metallic hues of gold, green, beige, purple, and teal among others. Each piece in the collection is given a name inspired by poetry including Hasrat, Jahan, Tabeer, Ranjish, and Arsh among others. Shawls and sarees are contrasted by slightly more structured garments including a waterfall style jacket and loose cape. The new collection retails on Dusala’s dedicated e-commerce store and prices range from $929 (Rs 67,752) to $2,566. It also features in a campaign shot by Ankit Chawla with model Rashmi Mann and coordinated by Jahnvi Bansal. The campaign also features “poetry and translation by Amit Aggarwal,” Dusala shared on Facebook. Dusala specialises in pashmina weaves and retails from its founder Sugandha Kedia’s multi-brand store ‘One’ store in Raipur as well as its e-commerce store. Kedia founded Dusala with the aim of promoting pashmina globally and providing employment for skilled weavers, according to the brand’s website.

ETAIL Reliance shakes up Indian e-commerce space with JioMart

mazon recently announced a $1 billion investment in India for long-term develShaking up an industry currently dominated by Amazon and Flipkart online services, Reliance plans to expand into the e-commerce space with Jio Mart, a directto-consumer website. Already, Reliance’s portals offer almost 50 per cent discounts on popular sugary confections and other holiday staples. Its Reliance Digital website sells Samsung smartphones with as much as 40 per cent discounts.. Reliance will benefit from favorable government policies that currently bar Amazon and Walmart’s local unit Flipkart from featuring exclusive products and owning inventory. This will help Ambani dominate the online retail space, opines Siju Narayan, Chief Experience Officer, RexEmptor Consult LLP in Mumbai. According to him, JioMart has the potential to turn the fortunes of grocery e-commerce majors like Bigbasket & Grofers. Competing with retail behemoths However, Reliance will be pitted against formidable giants like Amazon or Walmart who have operating since decades. In comparison, Reliance’s e-commerce operations are relatively new. Its website JioMart was started just a year ago and faces several delivery issues and delay in refunds. Already India’s biggest company with a market capitalization of $185 billion or about 6.6 per cent of India’s GDP, Reliance’s e-commerce venture has increased its clout in the industry. JioMart’s upcoming Bestival Sale will be the season’s biggest grocery sale” and offer large discounts and cashback running through November 8. Reliance will also offer bigger price cuts on some key items, For instance, the company plans to sell a Samsung S20 mobile for Rs 43,999 against a price of Rs 47,990 announced by Amazon and Rs 69,999 by Flipkart. It will benefit from the pricing rules favoring local companies and allow its website to be more cost-friendly. Benefiting from government-friendly policies According to Ankur Bisen, Senior Vice-President Technopak, while JioMart and Reliance Retail account for only $12 billion of India’s retail market, Amazon and Flipkart account for $14 billion each. However, the restrictions on foreign companies owning grocery stores, puts these companies on a backfoot and boosts the prospects for home -grown champions. Reliance also benefits from the allegiance of its goals with government’s ambitions. In 2016, the company launched Reliance Jio, as part of Modi’s Digital India initiative. To further consolidate his position in the industry, Reliance recently bought the retail, wholesale, logistics and warehousing units of Future Group for $3.4 billion. Taking the bull by its horns, the company aims to complete the transaction without any further delay.

India ranks on 9th position in terms of global e-commerce growth

As per a report by Payoneer, Indian e-commerce sector ranks on the 9th position globally in cross border growth. The sector saw a massive growth in recent times as more Indians shopped online rather than venturing outside, says Economic Times. The sector also attracted huge investments from global players such as Facebook investing in Reliance Jio. Google announced its first investment in MukeshAmbani-owned Jio Platforms, joining Facebook, etc. The deal

was followed by Reliance Retail buying out Future group to increase the Ambani group’s presence in e-commerce space. According to the report, as the world moved to full or partial lockdown, online shopping cemented into a new reality. The year 2020 has seen a decade of growth within just a few months with China topping the charts followed by the US, Hong Kong, South Korea, UK, Ukraine and Vietnam. India on the ninth position is followed by Japan which emerges on the tenth position.

Indian e-commerce to hold 8% share in retail by 2025 According to a recent report by e-commerce SaaS platform Unicommerce, Indian e-commerce is growing at a steady pace and is projected to hold an 8 per cent share in the overall retail category by 2025.

As per the report, e-commerce order volumes increased by 31 per cent in the JulySeptember quarter as compared to the same period last year, but the average order value declined by 5 per cent. This is also driven by the fact that in order to lure customers, e-commerce platforms have been doling out discounts and deals on products. They are launching sale events like Amazon’s Prime Day, Myntra’s End of Reason Sale, Flipkart’s Independence Day sale.

During the July-September quarter, orders from Tier II and III cities have almost doubled. This growth is driven by consumers living in Tier II and Tier III cities. The increasing focus on regional markets and the rising adoption of smartphones is driving growth from Tier II and beyond cities, said the report.

E-commerce orders grow 36 per cent in FY2020

As per a report by Unicommerce and Kearney, India’s e-commerce activities in Q4 FY2020 grew by 36 and 30 per cent yearover-year (YOY) in terms of order volume and gross merchandise value (GMV), respectively. However, the average value of orders declined by 5 per cent as compared to same period last year. Categories like personal care, beauty and wellness as well as FMCG and Healthcare were the biggest beneficiaries with volumes growing by 95 percent and 46 percent YoY, respectively. Tier II and III cities accounted for 90 per cent YoY incremental volume and value growth. While brand websites reported 94 per cent volume growth in Q4 2020 as compared to same period last year. The FMCG and pharma category reported growth of 92 per cent on the brand website and 62 per cent growth on the marketplaces.

82 ETAIL India’s plan to change FDI rules may hit Amazon, Flipkart

ndia is considering revising its foreign investment rules for e-commerce, a move that could compel players, including Amazon, to restructure their ties with some major sellers. The discussions coincide with a growing number of complaints from India’s bricks-and-mortar retailers, which have for years accused Amazon and Walmart-controlled Flipkart of creating complex structures to bypass federal rules. India only allows foreign e-commerce players to operate as a marketplace to connect buyers and sellers. It prohibits them from holding inventories of goods and directly selling them on their platforms. Amazon and Flipkart were last hit in December 2018 by investment rule changes that barred foreign e-commerce players from offering products from sellers in which they have an equity stake.

US-based Kontoor Brands has signed up e-commerce enabler Ace Turtle its India license partner for Lee and Wrangler denim brands. As per this license, Ace Turtle will have the right to manufacture products for both Lee and Wrangler to sell them in India. The company will adopt a omni-channel strategy for both the brands. Bengaluru-based Ace Turtle handles endto-end e-commerce solutions for many brands including Lifestyle, Tommy Hilfiger, Calvin Klein, Micheal Kors, Emporio Armani, etc. The company is now getting into retailing of any brand after taking over the India rights from Kontoor . Lee and Wrangler started in India in a licensing deal with Ahmedabad-based Arvind Mills more than a decade ago and then converted the partnership into a joint venture with Arvind. Last year, VF spun off Lee, Wrangler and Rock & Republic labels and Kontoor became an independent and publicly traded company

Amazon marketplace FY20 revenues grow by 42%

Now, the government is considering adjusting some provisions to prevent those arrangements, even if the e-commerce firm holds an indirect stake in a seller through its parent. The changes could hurt Amazon as it holds indirect equity stakes in two of its biggest online sellers in India. According to a statement given by Amazon, e-commerce created huge job opportunities and is a significant contributor to economic growth. Any major alterations to the policy will adversely impact small- and medium-sized businesses. India’s e-commerce retail market is seen growing to $200 billion a year by 2026, from $30 billion in 2019, the country’s investment promotion agency Invest India estimates. Among other changes, the government is considering changes that would effectively prohibit online sales by a seller who purchases goods from the e-commerce entity or its group firm, and then sells them on the entity’s websites. Under existing rules, a seller is free to buy up to 25 per cent of its inventory from the e-commerce entity’s wholesale or another unit and then sell them on the e-commerce website.

Kontoor Brands ropes in Ace Turtle as India license partner

FY20 revenues of Amazon Seller Services, the marketplace arm of Amazon India grew by 42 per cent toRs 11,028 crore, according to regulatory documents sourced from business intelligence platform Tofler. The growth is faster than of rival Flipkart’s marketplace arm, Flipkart Internet, which grew 32 per cent to Rs 6,318 crore in the same period. Amazon Seller Services, which generates revenue from marketplace fees, logistics services and other fees, incurred 3 per cent higher loss at Rs 5,849 crore in the year. The Flipkart marketplace arm’s losses rose by a little over 19 per cet to Rs 1,937 crore. Both Amazon India and Flipkart operate in India through multiple units, which house businesses like wholesale, payments and logistics. Amazon’s marketplace services and marketing support services were the two biggest revenue sources for the entity. They contributed nearly Rs 4,950 crore and Rs 1,683 crore, respectively. Its total expenses rose by over 25% to Rs 16,877 crore. Delivery, and advertising & promotional expenses were two of its biggest avenues of spending. It spent Rs 4,603 crore for the former, and Rs 2,640 crore for the latter.

BUSINESS NEWS Tablez India targets Rs 500 crore turnover in 5 years

ulti-brand retail Chain Tablez India aims to achieve a turnover of around Rs 500 crore and expand its network to around 250 stores in India over the next five years, says an Economic Times report. A subsidiary of the UAEbased conglomerate Lulu Group, Tablez India currently operates 67 stores. The retailer plans to invest around Rs 75 crore every year to expand its retail footprint in the country. The company aims to boost its presence in digital and e-commerce space as well as physical stores by FY 2026. It will invest around Rs 70 to Rs 75 crore a year for this. Its investments in brands will be recalibrated post-2021 as per strategy. The company would fund its expansion through equities as it’s a family-owned enterprise. It is also open to expand in other parts of the country. This year, it expects to achieve a turnover of Rs 100 crore. Tablez India, which launched its operations five years ago in India, operates in retail and food and beverages segments. Its portfolio consists of brands such as -- Toys “R” Us, Babies “R” Us, Build-A-Bear, GO Sport, and YOYOSO. In the F&B vertical, Tablez holds India franchise rights for Cold Stone Creamery and Galito’s, in addition to its home-grown brand, Bloomsbury’s.

Ikea to invest Rs 6.000 crore in India

Ikea plans to invest Rs 6,000 crore in India by 2030. The retailer aims to meet 25 million people in Maharashtra and aim to provide over 6000 jobs. With the omnichannel approach, Ikea also plans to set up small and large stores in Bengaluru, Gurgugram and Pune. Since Ikea has set up two stores and a few are in the process, it has also increased its sourcing from India in different segments. The retailer is working in different categories with Indian manufacturers. Currently, the local sourcing requirement is 30 per cent but Ikea aims to increase it to 50 per cent. To be able to develop such categories, the retailer needs to have that raw material and support the production of sustainable wood. It is currently working closely with the associations and federations to push the manufacturing.

India’s denim production grows at 15% CAGR Denim production and consumption in India is increasing at a CAGR of 15 per cent, says a report by Business of Fashion and McKinsey. The pandemic has challenged the fashion sector in the nation. Executives from three Indian denim mills shared their views on the current denim industry at a Carved in Blue webinar recently. AamirAkhtar, CEO, Arvind , noted that as brands still hold their spring inventory and plan to repurpose the same, they aren’t buying new. However, capacity at several mills still remains underutilized. Over the next six months, most Indian mills won’t surpass a capacity of 4555 per cent, said AdityaGoyal, CEO and Managing Director, Anuhba Industries.

However, demand in rural areas has been increasing where denim is being purchased as a workwear essential. These individuals are able to sell their goods and have received support from the government. Meanwhile, cities are taking longer to bounce back and make denim purchases since workers are unemployed and businesses are struggling. Because of this, commoditized denim is rebounding at a greater rate than fashion denim. Even though consumers’ stay-at-home lifestyles have caused denim sales to take a hit, denim mills expect demand for denim to bounce back soon. It cannot be challenged by anything but itself, asserted Subir Mukherjee, Business Head, Bhaskar Denim.

RAI seeks government aid as retailers hope for 85% pre-pandemic growth

Retailers Association of India (RAI) has urged the government to extend support to help revive retail as retailers across fashion, electronics and grocery segments hope to achieve about 85 per cent of pre-pandemic level business in the next six months. As per latest business survey by RAI, retailers across India have been registering steady monthon-month recovery driven by festive sales in November 2020 falling just 13 per cent short of last year’s sales. In November, consumer durables and electronics category recorded 12 per cent year-on-year sales followed by the food and grocery category which recorded 5 per cent sales growth. Apparel and clothing segment is still under pressure with about -12 per cent year-on-year sales growth compared to prepandemic the survey added. As per RAI, with local level restrictions imposed in several states in fear of a second wave of COVID-19 cases, retailers are approaching 2021 with cautious optimism. While western and eastern regions are indicating slower recovery with sales at -18 per cent and -17 per cent respectively, northern and southern regions are progressing at -9 per cent, on a year-on-year comparison. According to RAI, sized around $854 billion, the retail industry is one of the country’s largest industries and makes up for over 10 per cent of its gross domestic product (GDP). The industry employs 46 million people, of which 90 per cent are in blue collar segment. Fashion and electronics contribute 50 per cent to the total retail while food and other essentials account for the rest.

84 BUSINESS NEWS Puma targets Rs 500 crore GMV from Myntra next year

uma India aims to achieve a revenue of Rs 500 crore in gross merchandise value (GMV), next year on country’s biggest online fashion platform Myntra, The brand aims to scale its women’s wear offering, double down on kids’ collections and drive differentiation with unique sneaker drops on the platform. It was the first brand to go live on Myntra in 2010. The partnership started with gifting and cricket merchandise. Today, the largest, as well as the most curated Puma assortment in India is on Myntra with over twelve thousand styles listed on the platform, the companies claimed. As the No.1 global sports brand on the platform, Puma is delivering the highest growth in the sports category, clocking over 60% post-lockdown. During the festive season, Puma grew by 253 per cent as compared to the same period last year. Closed footwear has been leading the way followed by fashion essentials like track pants, shorts and T-shirts, Myntra said.

KPR Mills to set up new garment production facility As per a report by the Hindu, Coimbatorebased KPR Mill plans to invest Rs 250 crore this financial year to set up a new garment production facility. The plant will produce 42 million pieces of garments a year and will take the total garment production capacity of the company to 157 million pieces a year. The additional capacity produced by the plant will be exported to new and existing customers. The plant will commission production in the first quarter of next financial year. Earlier, the company had planned to expand its facility in Ethiopia too. However, it finally decided to concentrate only on India. It will ramp up the capacity of its new plant gradually. There was a lot of panic and fear in the market in March-April because of the spread

of COVID-19. The market started picking up in August and the company has been registering good demand for its products since.

Raymond registers 88.7% decline in Q3 net profit

The net profit of Raymond plunged 88.7 per cent to Rs 22.18 crore for the third quarter ending December 2020. The company had posted a net profit of Rs 196.83 crore during the October-December period of the previous fiscal. Its revenue from operations declined by 34.1 per cent to Rs 1,243.44 crore during the quarter under review as against Rs 1,885.43 crore in the corresponding period of the previous fiscal. Raymond’s total expenses during the quarter declined 30.9 per cent to Rs 1,274.38 crore as against Rs 1,844.69 crore in the year-ago quarter. The company’s revenue from textiles declined 30.3 per cent to Rs 603.04 crore as against Rs 865.54 crore in the corresponding quarter. Revenue from shirting declined 48.7 per cent to Rs 86.04 crore as against Rs 167.79 crore in Q3/FY2019-20. Revenue from apparel segment declined by 56.8 per cent to Rs 210.77 crore as against Rs 487.74 crore and garmenting segment was down 42.9 per cent to Rs 136.54 crore as against Rs 239.01 crore in the year-ago quarter.

Kewal Kiran Clothing records 6 per cent drop in net profits in Q3

Apparel and denim maker, Kewal Kiran Clothing reported a six per cent decline in net profit to Rs 11 crore ($1.5 million) in the quarter ended December 2020, as against Rs 12 crore it reported in the corresponding quarter last year. According to a brand statement Covid-19 outbreak across the globe and in India has resulted unprecedented steps to combat it. Consequent to the nationwide lockdown from March 23, 2020, the company had to shut clown factories and stores and all operational activities across locations, impacting the business during the quarter. Kewal Kiran owns brands like Killer, Integriti, LawmanPg3, Easies, and Desi Belle. The company currently has 336 retail stores 210 cities across 25 states and sells on leading e-commerce platforms across India.

86 BUSINESS NEWS Monte Carlo posts Rs 79.35 crore net profit in Q3FY21

ended December 31, 2020 as compared to Rs.220.36 crore during the period ended December 31, 2019. It posted a net profit of Rs 13.81 crore during the period ending December 31, 2020 as against net loss of Rs 20.75 crore duing the period ending December 31, 2019. Its EPS declined to Rs.4.04 for the period ended December 31, 2020 as compared to Rs.6.09 for the period ended December 31, 2019.

Avenue Supermarkets promoter sells stake in Trent

onte Carlo posted net profit of Rs.79.35 crore for the third quarter ended December 31, 2020 as against net loss of Rs 4.42 crore for the period ended September 30, 2020. The company’s income grew to Rs 407.74 crore during the quarter as compared to Rs 102.73 crore during the quarter ended September 30, 2020. On a yearly basis, Monte Carlo posted a net profit of Rs 79.35 crore for the period ended December 31, 2020 as against net loss of Rs 72.26 crore for the period ended December 31, 2019. Total income of Rs 407.74 crore during the period ended December 31, 2020 as compared to Rs.406.87 crore during the period ended December 31, 2019.

V2 Retail reports Rs 228.46 crore income in Q3 FY 20-21

In its third quarter ending December 31, 2020, V2 Retail reported total income of Rs.228.46 crore during the period ended December 31, 2020 as compared to Rs.90.30 crore during the period ended September 30, 2020. The company posted a net profit of Rs 13.81 crore as against a loss Rs 7.31 crore during the quarter ending September 30, 2020. EPS increased to Rs.4.04 for the period ended December 31, 2020 as compared to Rs.2.14 for the period ended September 30, 2020. On yearly basis, V2 Retail reported total income of Rs.228.46 crore during the period

Promoter of Avenue Supermarkets, RadhakishanDamani and persons acting in concert (PACs), have sold over 28.22 lakh shares in Tata’s retail arm Trent for an estimated sum of over Rs.202 crore, reports Live Mint. As per regulatory filing, RadhakishanDamani, Kirandevi G Damani, JyotiKabra, Bright Star Investments Damani Estates and Finance, Derive Investments and Derive Trading and Resorts Pvt Ltd, sold 28,22,516 shares in the open market. The shares were sold on basis of weighted average price of the stock at Rs717.92 apiece, the transaction is estimated at Rs202.63 crore. Last month, Trent had reported a consolidated net loss of Rs 78.56 crore and revenue from operations stood at Rs 585.37 crore for the second quarter ended September 30, 2020. The company operates stores across four formats including Westside which offers an exclusive range of its own branded fashion apparel and is the mainstay of the retailing business of the company. The second retail format Zudio offers affordable fashion through its 20 stores across 12 cities. Star-the fresh food and grocery retail chain, operates 26 supermarkets and 10 hypermarkets and Landmark, a family entertainment concept, operates through five independent stores and retailed through select Westside locations.

INDUSTRY INDUSTRYBYTES BYTES

87 59

Benetton India senior appoints new CSR Flipkart realigns management team head E-commerce player Flipkart has realigned its senior management team for the upcoming new business opportunities and Adarsh Menon, Senior Vice President and Head, Private Brands, Electronics and Furniture, is set to head a new business initiative. Menon may head Flipkart’s upcoming business to business (B2B) initiative. Manish Kumar, vicepresident of business development who has built the grocery business, will look after the private label business. Ajay Yadav, Flipkart’s Head of large appliances and mobile businesses, will take charge of the electronics business unit which was under In addition to her presentbusiness role aswilllead Menon. Flipkart’s furniture now marketing functions United Colors be calledand the PR books, generalatmerchandise and of home Benetton India,category, Jasleen said KaurKrishnamurthy. Gumber has (BGMH) been its new CSR Head. Gumber Theappointed e-commerce player is in a restructuring has been with ofBenetton mode fromassociated the beginning this yearIndia to cut forlosses over five years and been at the Flipkart helm of is as competition gets tough. multiple marketing campaigns launched by the brand over the years. Jasleen comes with a rich experience of nearly a decade in the marketing domain and is an alumna of Management Development Institute, Gurgaon. She is an avid researcher and has many copyright papers to her credit. She has also authored a book titled ‘Ginger and Honey’ and is a part of guest lecture series at various IIMs and university colleges. Benetton Group S.r.l. is a global fashion brand based in Ponzano Veneto, Italy founded in 1965. Benetton Group has a network of about 5,000 stores worldwide. It is a wholly owned subsidiary of the Benetton family’s holding company called Edizione.

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.

CMAI welcomes Union Budget 2020-21 The Clothing Manufacturers Association of India (CMAI) has welcomed the wUnion Budget presented by Finance Minister Nirmala Sitharaman on February 1, 2020 as positive and growth oriented for the apparel industry. Rakesh Biyani, President of the association says the most important step in this Budget for the textile industry was the removal of the anti-dumping duty on PTA, which was a long

Fablestreet strengthens leadership team with new chief revenue officer Apparel brand Fablestreet has appointed Adarsh Sharma as its new chief revenue officer. Sharma will lead the brand’s online business besides driving the strategic initiatives for its next leg of growth. An alumnus of IIM Indore, Sharma has over a decade of work experience. He has earlier worked in several leadership positions at Rebel Foods, Zomato and Junglee Games. He also ran his own startup, Plowns in the kids-technology space for three years before joining FableStreet. His experience in online and digital space will help Fablestreet diversify its product portfolio

standing demand of the textile manufacturing value chain. This will potentially open up

and expand online over the next few months. “The proposed financing of has Launched three years ago, Fablestreet alreadyinvoices tapped intoofthe growing demographic the MSME sector of Indian female professionals and is looking could again be a huge benefit to make deeper inroads in this segment in the toyear. the Industry, which is largely coming

comprised of the MSME units”

the MMF value chain, and give a fillip to the entire MMF industry and enhance its global competitiveness. According to Biyani several other measures could also benefit the textile industry such as the technical textile mission, a review of the Rules of Origin especially in our FTAs, a review of cheap imports of goods being made by our MSME Sector, refund of all the taxes and levies for exports, and the targeting of making every district an export hub. The proposed financing of invoices of the MSME sector could again be a huge benefit to the Industry, which is largely comprised of the MSME units.

88 MEDIA QUOTES THE COMPLETE GARMENT PROCESSING UNIT Contact:

Bhagirath DIRECTOR Mobile: 9910522224 C-103, Okhla Industrial Area, Phase -1, New Delhi - 110020 Phone: 41612716 / 41612717 Works: Prithala Dhatir Road, Village Dhatir, Tehsil Palwal, Faridabad (Haryana) Ph: 01275 - 260078 / 79 e-mail: neelkanth_apparels@yahoo.co.in / naplc103@gmail.com website: www.neelkanthapparels.in

As part of the Flipkart group, Myntra runs an independent premium fashion platform, which is led by an extremely talented local team, driving rapid growth for the business.” Amar Nagaram CEO, MyntraAsiaFashion

Customer engagement is the core of our communication strategy. Despite us operating in 17 international markets, for us connecting through regional connect is extremely critical. Jiten Mahendra Senior Vice President (Mktg) Max Fashion

Kareena personifies our philosophy ‘where the gym meets the runway’. She is not only an inspiration but also an embodiment of what it means for women to maintain a healthy lifestyle while donning multiple hats.” Abhishek Ganguly General Manager, Puma India & Southeast AsiaFashion

“It’s an honor to build on this company’s rich heritage and lead our nearly 130,000 employees in transforming our business and operations to successfully

Our Environmental Pledge was signed by our CEO in 1994, and we created Natulon, the first zipper made from recycled PET bottles and polyester

compete in the future.”

remnants, 26 years ago.” Sonia Syngal CEO, Gap Inc

Hiroaki Otani President, YKK Corporation

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