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Ratings agency Icra estimates Indian apparel exports will decline 20-25 per cent in 2020-21. Due to the COVID-19 pandemic, the agency expects domestic revenues to decline by 30-40 per cent. To recover from this downtrend, apparel players bank on the upcoming festive seas... Read more
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Nothing can dampen Indian festive spirit. Despite COVID-19 triggering an economic slump, retailers expect this year’s festive season to be a boom period of the Indian e-commerce sector. Recent reports suggest, Indian e-commerce sector is expected to clock in revenu... Read more
According to Cushman & Wakefield, the average monthly rentals in Delhi's upscale retail locations of Khan market, South Extension and Connaught Place declined by 14 per cent year-on-year during the July-September period.
According to the data, rentals in malls were stable during the period. At present, malls in South ... Read more
Realizing the significant impact that COVID-19 crisis will have on their businesses, Indian retailers are seeking new capabilities to leverage the phygital business model. Combining the advantages of both the physical and digital mediums, phygital model offers consumers a wider range of options besides enhancing their shopping e... Read more
Though the pandemic has led to a 45 per cent dip in luxury sales, it has also given the $2.5 trillion global fashion industry an opportunity to tap the potential of digital shows in a post-COVID world. Last month, New York Fashion Week held it first online presentation while the London Fashion Week also live-streamed some of its... Read more
Ratings agency ICRA has assigned a 'Negative' credit outlook on the value and lifestyle fashion retailers as it expects their revenues to decline by 35-42 per cent in FY21, with an expected decline in their operating profit margin (OPM) by 300-500 bps.
According to the agency, fashion retailers will witness a material wea... Read more
Fast fashion brand H&M is optimistic about India business. Although the world’s second biggest retailer is closing stores globally, it is planning to open new ones in India; both online and offlline, reports Live Mint. Led by Janne Einola, so far, the brand has opened 48 stores in 24 cities besides launching its own po... Read more
After several months, fashion retailers are once again opening new stores,. Fashion retailer Madame opened six stores in July. It plans to open six more stores in the next three months. Similarly, footwear retailer Metro Brands plans to open 15 more stores in addition to the six it has opened post-lockdown. Cantabil Retail... Read more
COVID-19 outbreak has affected not just the textile industry but the entire economy. Shutting of retail stores wiped away businesses. Around 33 million people from across the world have suffered due to the pandemic, said Gautam Singhania, Chairman and Managing Director, Raymond Group in a recent media interview. It has also affe... Read more
Etailer Flipkart is gearing up to attract shoppers with new sellers, personalized offerings, video conferencing facilities and improved logistic services, for the upcoming festive season sale that begin from October 16, with its flagship event the Big Billion Days. Reports suggest, Flipkart expects more value-seeking buyers from... Read more
Since JioMart announced its plan to venture into fashion and electronic e-commerce, experts have opined the e-tailer would find it extremely tough to make inroads into e-commerce market currently dominated by Amazon and Flipkart. As per a Live Mint report, in the past six months, Reliance has raised more than $21 billion for its... Read more
As Redseer Consulting, around three lakh jobs are likely to be created by various e-commerce and logistics companies during this year's festive season. Most of these jobs are temporary, created by platforms to help them prepare for surge in orders during the various sale periods. However, about 20 per cent of these tempora... Read more
Designer Anita Dongre believes, COVID-19 has made Indian brands realize the importance of sustainable fashion production. Her company, House of Anita Dongre, sources ethically produced materials besides adopting innovative and environmentally sensitive production processes. Its 11,000-sq. mt. headquarters near Mumbai conforms to... Read more
Worth over $2.4 trillion global apparel industry, in India the industry employs millions of workers. However, the industry is plagued by various labor rights issues further exacerbated by the pandemic. COVID-19 has impacted India’s garment exports leading to order cancellations, inventory buildups and slower realization of... Read more
Recovery in the textile and apparel sector in Q2 FY 21 is likely to be led by increasing demand in the domestic and overseas market, says India Ratings and Research (Ind-Ra) report. It estimates volumes in both segments will reach 80 per cent over September 2020. Both man-made fibers and cotton segments will benefit from l... Read more
India’s merchandise retail sector, which was initially expected to cross $1 trillion in revenues by FY23, is now estimated to touch the same in FY25 due to the pandemic-induced slump in the economy, according to a report by Technopak Advisors.
Analysts at the firm anticipate business to remain tepid for the remainde... Read more
Brands as well as online fashion and beauty marketplaces Myntra and Nykaa expect a strong rebound during the festive season after a weak first half impacted by the COVID-19 pandemic. Myntra expects sales to double during the festive season compared to last year. The retailer is working towards scaling up festive season to ... Read more
Benefitting in a big way from the COVID-19 pandemic, the $27 billion Indian e-commerce market is expected to grow by 40 per cent in 2020. Redseer Consulting expects the market to gross $38 billion in 2020. They expect the total number of online shoppers to jump from 135 million in 2019 to 160 million in 2020 owing largely to dig... Read more
The pandemic has encouraged many Indian textile and apparel brands, including Reliance, Arvind, Aditya Birla, Donear Group, Raymond Siyaram and few start-ups to enter the market for anti-viral clothing in India. Peter England, a menswear brand from the Rs 8,743-crore Aditya Birla Fashion and Retail recently launched a rang... Read more
According to Redseer Consulting, the number of online shoppers in India will nearly double to around 50 million during the festive season this year.
This year’s bonanza sales will gain from the COVID-driven adoption among shoppers from Tier II and III cities, said a RedSeer report. The rise of new models like video-... Read more
Credited for launching the first edition of DFU Publications in 1989, Surendra Tulsidas Savai, President, Mumbai Textiles Merchants Mahajan, passed away on September 15, 2020. He was 81 years old. Savai was the Emirates Chairman of Mumbai Textiles Merchant & Federation of Association, Maharashtra (FAM). He remained the Presi... Read more
COVID-19 is leading to a reevaluation of the luxury business model in India. With the luxury market expected to contract 39 per cent in 2020, businesses across the country are being forced to either to adapt or perish, says latest McKinsey report. While some of these are resorting to new distribution channels, others are opting ... Read more
A report by KPMG and Retailers Association of India indicates, there will be increased adoption of online shopping, contactless payments and consumers placing safety over price, range and convenience post COVID-19. Shoppers will return to physical stores over the next few months as India hits peak festive season. Hence, re... Read more
With COVID-19 diminishing consumer sentiments, the ethnic wear segment in India could register only 10-20 per cent sales from April to June. However, reports suggest, the arrival of festival season in July with Eid brought some demand back with brands like Fabindia, W, Aurelia and Ethnix by Raymond reporting a 45 per cent surge ... Read more