TOP NEWS
From casual to need-based, COVID-19 changes consumer’s shopping habits
Shopping, the favorite hobby of many Indians; especially women, is undergoing a paradigm shift with the pandemic altering not just the modes of shopping, but the products being bought. While COVID-19 has spurred demand for products such as hair color, hand sanitizers, eye-make, computer accessories, instant noodles, loungewear a... Read more
India expects ‘V’ shape economic recovery from next year: Fin Min
Speaking at a virtual conference organized by the Federation of Indian Chambers of Commerce and Industry (FICCI), finance ministry official said the government was expecting a "V" shape economic recovery beginning next fiscal year. A top finance ministry official said that India is working on offering production linked in... Read more
Apparel brands and retailers defer new launches owing slow demand
Apparel brands and retailers have deferred new launches for this season owing to the extremely slow recovery in consumer demand that resulted from the above-mentioned situation, While a big number of clothing retailers have still not opened their stores, few prominent brands including Cantabil and FBB have only opened the... Read more
Designer Archana Kochhar distributes masks to frontline workers
Designer Archana Kochhar and her team understand that no amount of appreciation will suffice to acknowledge the efforts of the frontline workers who are risking their lives without a thought and the greater goal of serving mankind. Hence, they decided to distribute non-surgical masks in the local police stations, BMC offic... Read more
Emotional connect, less wastage fuels demand for bespoke fashion in India
The growing emphasis on quality over quantity is boosting demand for customized fashion in India. With people buying less, their interest in off-the-rack clothes is weaning, feels designer Payal Singhal who offers customized services across all her product lines including bridal, prêt, fusion, menswear, kids wear and acces... Read more
Weekend shopping shrinks as consumers shop during weekdays, office hours
With consumers venturing out more during weekdays and office hours, the trend of weekend shopping has shrunk to a third. This change is mainly a result of closure of multiplexes, fear of visiting the malls during weekends and a surge in online shopping, view experts. According to Devendra Chawla, Managing Director, Spence... Read more
Steady online retail revive demand as offline retailers gear up to boost …
The nationwide lockdown being implemented to curb COVID-19 spread has hit Indian fashion and apparel sector hard with sales recovering just 35 per cent that of January levels. Latest Redseer Consulting data reveals, fashion sales in January stood at $7 billion, or $85 billion annualized with the steepest dip reported in April wh... Read more
High-street retailers stage quicker recovery than malls: RAI
High-street shopping destinations in metros like Delhi, Bengaluru, Pune, Kolkata are staging a quicker recovery than malls for retailers, says a survey by the Retailers Association of India (RAI). Stores in locations such as Connaught Place in the capital, Indiranagar in Bengaluru, Mall Road in Ludhiana, MG Road in Pune an... Read more
Work from Home fuels demand for essential clothing in India
The Work from Home trend has boosted the sales of PJ’s in India with knitwear exporters receiving advance payments from European buyers to replenish their stocks for the basic clothing Demand for daily essential clothing is more from Europe, which has opened up for a long time. There is very good export demand for k... Read more
Retail sales fall by 67% during June 15-30: RAI survey
The business of Indian retailers declined by 67 per cent during June 15-30 compared to the corresponding period last year, according to a survey by Retailers Association of India (RAI). In its latest business survey conducted on more than 100 big and small retailers, RAI said there has been no significant growth in ... Read more
Government introduces new e-commerce policy draft
The Indian government has introduced a new ecommerce policy draft which plans to appoint an e-commerce regulator to make the industry more competitive which could directly impact Amazon and Google’s India operations. The policy draft was prepared by the ministry of commerce’s department for promotion of industr... Read more
Make in India fuels revival of leather and chemical industries
The ‘Make in India’ sentiment is pervading across all Indian industries particularly leather and chemical industries which are pleading with the government to impose anti-dumping duty on import of Chinese footwear and chemicals like Sodium Sulphide and basic Chrome Sulphate. Both these industries have been urging th... Read more
Online National Garment Fair scheduled in September
The online edition of India’s biggest garment fair for domestic garment manufacturers will be organized from September 02-11, 2020. As per the Clothing Manufacturers Association of India (CMAI), organizer of the show, the 71st edition of National Garment Fair (NGF) is re-evolved and re-invented to keep industry ahead of f... Read more
SOCH launches omni-channel sales platform
Mumbai-based SOCH Group has launched the first of its kind omni-channel sales platform ‘This or That’ (ToT) wherein a startup brand can showcase its products and reach out to their customers. It offers an experience, in which physical shopping and digital technologies interact with each other. The group, which... Read more
Omnichannel retail, better product mix to help counter present business e…
Temporary store closures and restricted mobility caused by COVID-19 pandemic is likely to result in a 30-35 per cent in decline in retailer’s revenues for the 1.7-trillion organised apparel retail sector, says a Crisil Ratings study. While operating profits of retailers will decline by around 200 basis points (bps), the ab... Read more
Quicker recovery for small town retailers: Report
Retailers in smaller Indian cities are likely to see business recovery sooner than those in metros thanks to the limited impact of the lockdown, migration to smaller cities and better rural income, says a report by analyst Motiwal Oswal Financial Services. According to the report, demand in smaller cities could return to n... Read more
Despite gloom, Indian apparel sales to revive by the third quarter
With no orders from domestic retailers for the last two months, the Indian fashion industry seems to have reached a dead end. As retailers are struggling to liquidate existing orders, they are unlikely to place any new orders until their cash cycle improves. They may also cut down their inventories for Autumn/Winter season by 50... Read more
Paramount launches My Personal Safety Kit
Premier textile company, Paramount Group has launched My Personal Safety Kit which safeguards its consumers from coronavirus. The kit contains nine essential protective gears including: Sturdy Safety Face Shield: This shield protects the face of consumers from any type of infection. The shield is made up of an unbreakable... Read more
Siyaram’s launches anti-corona fabric
Siyaram’s, one of the leading textile brands in men’s fashion for over four decades, recently launched its anti-Ccrona range of fabric tested by WHO (World Health Organisation) approved labs to fight against the spread of pandemic. The new fabric provides a 24/7 silent sentinel protection from the deadly virus and is... Read more
Innerwear brand Almo launched in India
Almo Wear was launched in 2020 as an attempt to change this perception by building an innerwear experience. Bringing Italian style & minimalism to the Indian market, Almo Wear puts together timeless designs & innovative fabric. The target customers are those looking for a more aspirational alternative with premium qu... Read more
E-commerce underlines its importance in India during COVID-19
The COVID-19 crisis has provided an opportunity for the Indian e-commerce sector to showcase its relevance during a crisis. CB Insights reveals right from traditional businesses to judiciary, everyone is embracing digitization. As a result, the e-commerce sector’s revenues in India have been growing at 112 per cent and 79 ... Read more
Retail needs smart planning, operational changes to navigate demand crisi…
The easing of lockdown comes as a huge relief for fashion retailers stuck with huge unsold inventory. According to a recent report by the Financial Express, though getting the demand back to pre-COVID-19 levels might be a huge challenge for retailers, they can expect some relief with the onset of major festivals during this quar... Read more
Post COVID-19 new era for as brands with seasonless, digital fashion: Stu…
Delineating the post COVID-19 fashion world, eco-friendly fabric brand Liva’s new report ‘A Brave New World’ emphasizes on the need for brands to upgrade their old school brick and mortar store shopping experiences for consumers who are now becoming more sensitive about the financial and sustainability costs ... Read more
Cotton masks become an integral part of the Indian fashion industry
Though it compelled garment manufacturers across India to shut their factories, the COVID-19 pandemic also offered them a life vest in the form of cotton masks. Masks have become a necessary tool of survival in these catastrophic times, many apparel brands, from luxury to affordable; have diverted their production to creating th... Read more
Mall owners offer 50 per cent rent waiver, switch to revenue-sharing
Ending their tiff with brands over rent waiver during lockdown, mall owners have agreed to offer 50 per cent cut in rent for the lockdown period, lower common area maintenance (CAM) and switch to revenue-share model for three months. One of the country's largest mall operators DLF has assured some of its tenants of offering mutually a... Read more
Donear Group launches anti-viral and anti-bacterial fabrics
Given the current scenario of the fashion and lifestyle category, adapting to the ‘new normal’ is the need of the hour. Being a market leader in innovation and excellence, the Donear Group, using Neotech® technology, has conceived products that are high quality, utilitarian and have a shield against bacteria an... Read more
Focus on need-based clothing fuels loungewear demand in India
A minor category in the huge Indian apparel market, loungewear has suddenly gained traction with the evolution of work from home culture to curb spread of COVID-19 pandemic. “Everybody has started looking at it as one of the most promising categories in India,” says Rajkumar Jain, Managing Director, Bonjour at a recent webinar by DF... Read more
Evolution of work from home culture has increased loungewear demand: Rajk…
Though a relatively small category in India, everybody has started taking loungewear seriously these days. “The evolution of the work from home culture has increased consumption of loungewear items like shorts and T-shirts in India,” said RajkumarJain, Managing Director, Bonjour at #3 webinar organized by DFU Publications-DFU LIVE o... Read more
‘Though slow in pace, athleisure trend is catching up in India’: Kamal Kh…
Over the past one year, athleisure trend has been picking up rapidly in India Across the world; however, it constitutes almost 60 per cent of the global consumers’ wardrobes. “Though slow in pace, athleisure trend is catching up in India, especially in the current social situation where everyone is lockdown in their home... Read more
Luxury shopping in India to become demure post COVID-19
Boston Consulting Group forecasts due to the COVID-19 pandemic, global luxury sales could plummet almost 35 per cent in 2020 compared to 2019. According to Abhay Gupta, Founder and CEO, Luxury Connect, a luxury brand management firm, India’s luxury market could take an even bigger hit than the global average as sales could drop almost... Read more
WEBINAR SERIES
LEADERS SPEAK
‘Night suits is a big opportunity because it can be a long term game’
Akhil Jain, ED, Madame
“Since May some of our operations have resumed. Lounge wear, pajamas and athleisure used to be only 2 per cent of our overall business but in the three and a half weeks since we opened, this category has made up 33 per cent of the entire business we have done. Be it offline or online sales or demand from excising multi-brand outlets or distributors, the only products everyone is asking for are: pajamas, lounge wear or nightsuits. We see demand for basic athleisure wear and not fancy ones. It’s a small category for us. Also, there are not many players in the organized sector in India but in the unorganized sector, it is a big category.
Read Full Interview Here
‘With less business, retailers should reformulate cost structure, focus on increasing savings’
BS Nagesh, Founder, TRRAIN
“We are not sitting at home with the intention of closing our business. We will all reopen our businesses. So, the first attitude is, we are going back to our business and will take it to the next level. Secondly, we will have to analyze our previous work and behaviour with customers in the last 5 to 10 years, if our attitude was that of ‘you are just a customer’ and ‘I don’t care’ previously then be assured your customer will never come back. The people or brands who have already created trust with customers will be the early winners according to me. At this time, those who are in competition need to introspect their future dealings and elements related to it. To create this trust today, no one has a magic wand because we are unaware of customer’s demand, choice and when they come in, we will not work on our KPI’s because we don’t know what the customer wants. It is all guess work.”
Read Full Interview Here
‘Retailers have to enhance consumer engagement by focusing on relation building and communication’
Hemant Jain, Director, KKCL
“I don’t feel business will decline forever. It will decline but for a short while. Like in cricket, the game is not over if it is hindered by rains, only some overs are reduced but the score remains the same and in order to square the score players focus on hitting the ball to the boundary or over the boundary. Similarly we will have to focus on our ticket size. So if the ticket size grows maybe we will sustain but our priority should be hygiene and safety and we have to convey this message to our customers, that if you walk in to our stores it is safe. So, if we can communicate a sense of safety to our customers maybe retailers will be able to sustain their business.”
Read Full Interview Here
‘We also need to sanitize merchandise at regular intervals’
Vipul Mathur, Business Head, Udaan.com
“Can you move a part of your store online. Can you get to the same degree of sales without getting as many customers as you used to in stores. Is that possible? Can you do home delivery for people to feel safer. If you are an apparel retailer you might have to go places, can you avoid going there and use alternative sourcing methods. If you do all these then three things will happen: you will remain safe, employees will remain safe, customers will remain safe. Their being safe over time they can buy goods without any mishap. Practiced over time this will see business grow.”
Read Full Interview Here
‘COVID-19 is teaching Indian consumers to be restrained in their spending’
Rakesh Jallipally, Chief Operating Officer, U.S. Polo Association and Flying Machine
“Right now people are looking at essentials like staples and household supplies. That is at the top of their list. Apparel or fashion may be fifth or sixth item on the list. But all said and done from our personal experience, we have opened a few stores since and seen there is demand, people are coming in. Indeed, walk-ins are less but whoever has come in are decisive and buying. The world is not over according to me for apparel or fashion retail. There is enough optimism. Basically we need try to and reach out to our consumers because there is a need. It might be latent at this point of time because it is not essential but if we keep reaching out to them I’m sure demand will come back though it might take some time.”
Read Full Interview Here
‘If we overcome the fear our business will slowly come back to normal’
Manohar Chatlani, Chairman and Managing Director, Soch
“I think we have overestimated the prospective of this virus (COVID-19) to do harm. It is not as deadly or as dangerous as we think. It spreads faster than any other virus we have known so far. If we can overcome this fear, business will slowly come back to normal. Besides sanitizing and cleaning stores the government will have to think about public transport where people have the confidence to use them. Of course, to attract customers we will have to offer good discounts that are better than online discounts and newer merchandise than online. It is a question of time as public memory is short and things should become normal fast. I am hopeful.”
Read Full Interview Here
“Discount retailers and value-oriented brands stand to win”
“Consumer spending is dramatically curtailed during a recession. Consumers have adopted short-term behaviour during the pandemic that in many cases will become permanent, as a lesson learned from such unprecedented occurrences. Not only do consumers become more financially conservative but also credit may become less available and a large cohort may go into default on their debt, dramatically limiting purchasing power. Consumers will wake up from the pandemic in a new economic reality, changing their commercial behaviours in extreme ways.Read Full Interview Here
‘It will be very tough now and might take six months to be normal’
“Year 2020 scenario is the first time manufacturers have faced such a huge challenge. If they achieve even 60 per cent of sale compared to last year, it will be a great achievement and I presume that 20 per cent of manufacturers and brands will be wiped out. This is a big concern and the government needs to play an active and important role in this. The government has to understand the garment and textile industry is the second largest after agriculture and employs a huge amount of labor from all sections of the society. Hence, the government has to think exclusively for MSME’s and textile and garment industry, like restriction of customs on import, large format stories to source only from Indian market etc.” Read Full Interview Here
“The elephant in the room is cash-flow management and crisis management”
"The elephant in the room is cash-flow management and crisis management. For cash-flow management, except exemption package to file returns or reduction of interest on delayed payment, there is very little the government will do at this stage given the huge fund requirement and reduction in tax collection with bottom of pyramid's social and health costs taking predominance. Many SMEs will shut shop and consolidation and constriction will happen. There will be constriction in operations and consolidation of big becoming bigger with deep pockets and select buyer support." Read Full Interview Here
‘To regain existing business everybody has to work as fast as possible’
“Everybody has realized this is the time to think out of the box so that the when it opens they will be ready with what they want to do, like aligning people, volume of production needed to be done, how many showrooms to open, what volume of orders to be taken up because export orders have been cancelled, most large format business have cancelled their orders with vendors. Hence, from day one factories will have nothing to do. As for brands, when they open they have already sustained with their fixed expenses and have no money and will not be able to ask their customers for money. In fact, we will have to assure them we are with them and ask them to start business with full confidence. The main worry is financial support. Low margin business or those subsisting hand to mouth will face extra difficulties. This will simultaneously open new opportunities. It will be a new life after opening. To regain existing business everybody has to work as fast as possible." Read Full Interview Here
‘The one change we will see is online will bounce back faster than offline’
“Whether you open today or a month later or you start EOSS from June 15 or August 15, demand and consumer sentiment per say is not going to change much. The other reality is, in terms of physical retail from the time you reopen the consumer will take time to go back to stores. The one change we will see is online is going to bounce back much faster than offline. This change has been seen in China also and the same scenario is likely to happen in India. In a scenario where the lockdown is lifted around May 15 and EOSS is announced, the consumer will still not visit malls to buy, so delaying EOSS is justified." Read Full Interview Here
‘The garment industry will witness very tough time, may take six months to a year for normalcy’
Rakesh Grover, Managing Director, Groversons and President for Intimate Apparel Association
“The after effects will be tough. Already the industry was going through a difficult time but after this, there will be a hard time because payment cycle will be affected, raw material supplies will be affected as the supply chain is affected, factories are closed and even if production begins, how will we continue production as we need a lot of raw materials and different ingredients to complete garments. To procure from China or India at the moment is difficult as labor returned to their villages and to get them back to work will be a big challenge. It may take a month or two to get them back to work. Even if we have orders production may not start in full strength for about two months post lockdown."
Read Full Interview Here
Will also have to liquidate maximum merchandise at better values
“Once the lockdown opens, people are more likely to rush to restaurants and other entertainment zones rather than stores for buying clothes. This may create a frustrating situation for brands and retailers and compel them to offer higher discounts than the routine trend. Regarding inventory management, we will have to be smart and carry forward some of the inventories to the next season. We will also have to liquidate maximum merchandise at better values to make some money."China was also under a lockdown and we depend a lot on them for fabrics
Since we have our own manufacturing, we are manufacturing less. With lockdown finances are also shut, we will save about 100,000 to 150,000 units, that is produced and this is what I am thinking of if the season doesn’t begin in the next two months. As for autumn/winter, it is still under speculation as China was also under a lockdown and we depend a lot on them for fabrics. Of late, we have started pursuing Chinese... Read Full Interview Here
Lockdown may prolong and will affect our and world economy
We are aware of the gravity of the situation and emerging problems across all industries. I feel, the lockdown may prolong for a longer period and affect our and world economy. Everyone will have to face it in their own capacity as no planning and management will work. It is a wait and watch; work as per situation. We plan to retain all labourers, as most have left for their hometown. We will pay them without cuts... Read Full Interview Here
The only way to avoid this blood bath is massive Government support
“India’s Garment Industry is currently going through its worst ever crisis The current lockdown of the country – is a death blow to these smaller units. Most of them will simply not have the resources of surviving for any length of time even after the markets reopen. This is because even after they reopen, markets are highly unlikely to return to its normal,... Read Full Interview Here
Bad impact on the industry as all inventories are stuck
“Coronavirus will have a bad impact on the industry as all inventories are stuck. Goods in transit are not being sold. Goods are stuck in warehouses, so there’s total loss. We plan to cut down our winter production depending on how long it goes on. We’ll have to sell more goods on discount. If this ends in April, it will be fine and if it prolongs to June, it will be very difficult for the industry... Read Full Interview Here
We are sitting on stocks and there is no sale and absolutely no cash-flow
“Following government directives closed all our stores and offices. Hopefully, this will be controlled in 21 days and markets open up. Both our spring/summer and autumn/winter collections are likely to be impacted as almost all production for summer is ready. We are sitting on stocks and there is no sale and absolutely no cash-flow. When markets open, we’ll have to look at demand and how much stocks are cleared... Read Full Interview Here
Tough times and teams with character and determination will win
“We are looking at how to adjust to a new and challenging reality along with protecting the safety of our employees. Being a fashion retailer, we need tombalance the current season’s merchandise while working on possible buy reduction for the coming season. I foresee the market to remain challenging for at least a quarter even after things settle down and stores open as we fall in the non essential category and consumer sentiment will not be at its best. Therefore, I foresee a 20 per cent reduction in demand for subsequent months. We need to look at all costs to protect our bottomline and also manage the working capital. These are tough times and teams with character and determination will win.”
12 mantras to maintain brand competitiveness in tough times
A visionary academic leader and persuasive administrator, Professor Dr Darlie O Koshy is well known for transforming several educational institutions like the National Institute of Design (NID), Ahmedabad where he served... Read more
‘We are focusing strongly on the innerwear category’
Kavindra Mishra, Managing Director, India Business and Asia Pacific, Pepe Jeans, speaks exclusively to DFU Publications about the brand, its initiatives and the global denim industry. What is Pepe Jean’s mission... Read more
‘CMAI needs to take a leap into the next level’: Rahul Mehta
Rahul Mehta has been unanimously re-elected the President of Clothing Manufacturers Association of India popularly known as CMAI for the year 2018 - 2020. Under his leadership, CMAI has been growing leaps and bounds. He ... Read more
Jack Sewing Machines launches new technology at GTE
Recoupex: Making Indian exporters/importers aware of cargo claims
Advanced IoT systems enable Gherzi to increase garment productivity by 15%
Knitwear Capital of India, Tirupur Invites for its historic 47th IIKF
Infrastructural development, youth employment to boost Indian productivity
Low operating and maintenance costs help Colorjet machines grow
Global industry moving away from traditional manufacturing methods
Upgrading its facilities to help India stay ahead in the race
Zero Defect Zero Effect (ZED): Enhancing global competitiveness of Indian MSME
GTE 2020 to improve garment productivity and efficiency in India
Gujarat spinning mills reduce production capacity
Spinning mills in Gujarat have reduced their production to 60 per cent of installed capacity, in order to tackle overhe... Read more
Blockage of online application to MEIS discouraging: SRTEPC
Ronak Rughani, Chairman, SRTEPC said that the sudden blockage of the online module to apply for MEIS on July 23 is a sh... Read more
Gujarat spinning mills reduce production capacity
Spinning mills in Gujarat have reduced their production to 60 per cent of installed capacity, in order to tackle overhe... Read more
Flipkart opens dark stores across India
Walmart-controlled e-commerce major Flipkart is opening dark stores or outlets used only for deliveries in various Indi... Read more
Future Lifestyle Fashions formulates strategy for cost reduction
Future Lifestyle Fashions has formulated a strategy for renegotiation its rental cost and also identified key drivers f... Read more
Bata India ramps up digital operations
Bata India, which currently gets about 6-7 per cent sales from online channels, is ramping up its digital offerings by ... Read more
Arvind Fashions scales up digital and omni-channel capabilities
Arvind Fashions has scaled up its digital and omni capabilities and expects that strength of its brands, coupled with l... Read more
Future Lifestyle Fashions launches strategy for cost reduction
Future Lifestyle Fashions has formulated a strategy for renegotiation of rental cost and identified key drivers for rig... Read more
Indian corporates expect business recovery by June 2021: PwC survey
Eighty two per cent of Indian corporates expect to get back to the pre-pandemic revenue run-rates by June 2021, accordi... Read more
New government guidelines to boost Khadi sector: KVIC
Khadi and Village Industries Commission (KVIC) expects the new guidelines from the Government of India on 20 per cent c... Read more
Flipkart to onboard more artisans
Walmart-owned Flipkart plans to onboard more artisans, weavers and craftsmen on its platform. The retailer already supp... Read more
Future Retail to delay financial results
Future Retail has sought permission to delay the announcements of its fourth quarter results for FY20 and first quarter... Read more
CCI stops cotton procurement
CCI stopped cotton procurement from August 1 due to tapering of arrivals and pick-up in rainfall. The corporation&rsquo... Read more
Raymond launches new Khadi collection
Fabric and apparel manufacturer and retailer, Raymond, has launched Wheels of Freedom an exquisite collection of Khadi ... Read more
India becomes investment destination for Amazon
India has become the biggest country for Amazon’s new investments even as the Seattle-based tech giant has accele... Read more
Amazon focuses on digitizing MSMEs in India
E-commerce giant Amazon is focused on digitising micro, small and medium-sized businesses in India and is working on ge... Read more
CMAI survey reflects grim industry outlook
The 3rd Survey conducted by CMAI amongst its members reflects the crisis the domestic garment industry is going through... Read more
Labor shortage hits garment makers in India
Despite demand from the major export markets of the United States and the European Union, the industry is not in a posi... Read more
Cambodia releases five-year plan for garment and textile sector
The Cambodian government is preparing five-year development strategies for the garment, footwear and bags sector (2020-... Read more
E-commerce in metros surpasses pre-COVID-19 levels post lockdown: CRED
A report by credit card bill payment platform CRED states e-commerce spends surpassed pre-COVID-19 levels after the loc... Read more
Q1 pre-tax profit of Reliance Retail declines by 47 per cent
Reliance Retail reported a 47.42 per cent decline in pre-tax profit to Rs 1,083 crore in first quarter ended in June 20... Read more
Return to normalcy to fuel popularity of outdoor shopping centers: Report
Consumers’ efforts to return to normalcy will expedite the transition from indoor malls to outdoor shopping cente... Read more
Myntra to expand fashion brands to Southeast Asia, Europe
Fashion e-tailer Myntra aims to take its fashion brands to international markets like Southeast Asia and Europe. The Fl... Read more
KVIC bags Indian Red Cross Society order for face masks
Khadi and Village Industries Commission (KVIC) has received a prestigious purchase order from Indian Red Cross Society ... Read more
Raymond axes jobs to cut costs
Raymond, one of the world’s biggest producers of worsted wool fabric used to make quality suits, is cutting costs... Read more
Ayush Singhal resigns as the CFO of Club Factory
Ayush Singhal, CFO, Club Factory has resigned from the company. The e-tailer has roped in law firm Khaitan & Co to ... Read more
Brands defer offline expansion to focus on online channels
Increasing consumer engagement is compelling retailers to halt their offline expansion and focus on digital channels. F... Read more
COVID-19 weakens consumer spending sentiment for apparels: survey
According to a consumer sentiment survey report by Facebook and Boston Consulting Group (BCG), apparel has witnessed we... Read more
Reliance close to buying Future Retail
Reliance Industries has closed a deal to buy the retail business of Kishore Biyani’s Future Group for Rs 27,000 c... Read more
Century Textiles reports Rs 36 crore net loss in Q1
Century Textiles & Industries reported consolidated net loss of Rs 36 crore in Q1 June 2020 compared with net profi... Read more
Myntra partners with top fashion brands to offer great discounts
Top fashion brands including H&M, Adidas, Calvin Klein, Biba and Marks and Spencer have partnered with Flipkart-own... Read more
TCNS closes export business
TCNS is in the process of closing its export business. With around 2,000 sewing machines and an annual turnover of Rs. ... Read more
Reliance Brands buys Unilazer’s stake in Zivame
Reliance Brands has bought Unilazer Ventures’ stake in leading lingerie retailer Zivame and is negotiating with o... Read more
Donear Group, Zodiac collaborate for anti-viral range of shirts
The Donear Group has collaborated with leading menswear brand Zodiac to launch a range of anti-viral shirts called Secu... Read more
Myntra disrupts age-old practices with data and machine learning
Myntra is disrupting the age-old practices of the fashion industry with data and machine learning. It is now able to pr... Read more
Welspun India to focus on e-commerce
Textile firm Welspun India aims to make e-commerce a priority and evolve business to meet the demand of ‘new norm... Read more
RIL, Future Group iron out differences
Reliance Industries (RIL) is in late-stage talks to acquire the retail business of Future Group as the two companies ha... Read more
MomSoon expects twofold rise in sales this fiscal
Maternity clothing wear startup MomSoon is expecting an over two-fold rise in sales this fiscal as it plans to expand r... Read more
Textile industry to become low margin in future: CMAI
In a webinar on ‘Rebooting Textile Industry, Rahul Mehta, Chief Mentor, CMAI, said, the ongoing lockdown has seve... Read more
Morarjee launches ViroShield protective fabrics
Morarjee Textiles, a vertically integrated textile company manufacturing high-end products in prints, dyed and yarn dye... Read more
