16th August 2021, Mumbai:

The latest collaboration between fashion designer Sabyasachi Mukherjee and H&M has gotten mixed reviews. Many people thought the selection was expensive, with a cotton saree for Rs 9,999 attracting the most attention.

However, the collection was quickly sold out. In response to the feedback, the designer recently released a statement explaining why he decided to take on the project. Sabyasachi's formal statement was posted on Instagram. “After receiving thousands of emails and letters, I felt compelled to address the disappointment that many of you have experienced,” he said.

“When H&M initially approached me with the concept of the collaboration, I was really pleased that I could finally reach out to the huge Sabyasachi tribe globally, even if it was just for this once,” the designer said of his choice to partner with H&M. I knew they had the resources and connections to pull it off. And then it occurred.” Sabyasachi described the partnership as a "dream come true" for him. “I was extremely explicit and adamant that there would be no VIP previews or exceptions–everyone would have equal access to the collection.” What better way to do it than on the internet?” The response was not just "overwhelming," but "simply puzzling," according to the designer. 

“It wasn't just about how soon it sold out in India; it was about how quickly it sold out globally. And, like the majority of you, I had to deal with obstinate carts and crushing applications... I understand that many people are dissatisfied, and I apologize profusely.

I'm certain that I'll be able to develop a future business strategy that meets this need.” “My pet gripe was that we were labeled a manufacturing country globally,” he continued. I've always wanted to shatter the glass ceiling on my own terms... Every single one of us has a market-ready product, and the key to unlocking it is to just be ourselves. Regardless of who you are. Shamelessly.”

TOP 5:

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• 'CHIC Shanghai' fashion and lifestyle trade show to happen on October 9-11
• Dollar Industries looks to strengthen global presence with new collections

6TH AUG 2021, MUMBAI:

Philipp Plein Group, based in Switzerland, has become the first major fashion company to accept payment in 15 different cryptocurrencies, including Bitcoin and Ethereum. Many of the group's physical and mortar retail locations across the world, as well as the brand's e-commerce site, now accept digital currency for transactions.

It expects the decision to have the most beneficial impact. According to a press release from the firm, German designer and creator Philipp Plein and his group have always been at the forefront of investment and development in digital technologies applied to the fashion sector.

Philipp Plein, one of the first worldwide brands to build and develop an in-house e-commerce platform, has transformed e-commerce into its most profitable channel, with a record turnover of €100 million projected in 2021. “I think that cryptocurrencies are the way of the future, and my team and I have invested a significant amount of time and money in making all of the required system changes to accommodate this new sort of currency. Plein stated, "I'm thrilled to be able to offer our clients this extra payment option and the freedom that comes with it."

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2. Arvind Ltd’s exports to EU, UK and US to surge in Q2 FY’21

3. The Titan Company’s Q1 income rises to Rs 3,519 crore

4. Pandemic supports the growth of local handloom industry in India

5. Despite sales declines in China, Adidas raises its outlook

13th August 2021, Mumbai:

This Chinese high profile show has been recently been postponed to October 9-11, 2021 due to spike in Covid-19 cases both back home in China globally as precautionary measures. 

"The safety of all exhibitors and visitors of CHIC is our top priority stated the organisers recently,Chen Dapeng, president of China National Garment Association and CHIC - China International Fashion Fair.

 

The existing status is that the fair has been taking place physically since July 2020. Touted to be the most vital one single poit 'Meeting Place for the fashion industry in China'. It was some around 500 brands from the Chinese fashion market, had registered prior to the postponement of show at the August event and historically close to 60,000 visitors were expected to attend.

 WATCH: https://www.youtube.com/watch?v=4ayc0LEiZRo

(In sync with the mega trend of the Post Covid World).....In addition to physical version, CHIC has curated & introduced solutions for digital participation  via the CHIC digital platforms, as well as a bunch of innovative hybrid options that proficiently combine in synergistic fashion digital communication and product presentation

 https://www.linkedin.com/feed/update/urn:li:activity:6831915727222566912

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• Government taking measures to address concerns of small traders: Piyush Goyal

5th Aug 2021, Mumbai:

Hugo Boss CEO Daniel Grieder, a former Tommy Hilfiger executive who took over in June, said it was his goal to make the company one of the top 100 worldwide brands by 2025, with marketing expenditure expected to exceed 100 million euros.

BERLIN: Hugo Boss' new CEO set an ambitious goal for the company on Wednesday: by 2025, revenues will have doubled to 4 billion euros ($4.75 billion), with an operating profit margin of 12 percent of sales. Hugo Boss, who has been badly impacted by coronavirus lockdowns, announced a sales increase in the second quarter, especially in the United Kingdom and China.

Hugo Boss CEO Daniel Grieder, a former Tommy Hilfiger executive who took over in June, said it was his goal to make the company one of the top 100 worldwide brands by 2025, with marketing expenditure expected to exceed 100 million euros. The firm stated it will stick to its current approach of seeking to appeal to younger customers while also aiming to quadruple women's fashion sales by 2025. Hugo Boss, which is famed for its sophisticated men's suits, expects online to account for 25-30% of sales by 2025, up from around 16% today. It also intends to renovate about 80% of its stores by 2025, at a cost of around 500 million euros. Hugo Boss stock was up 1.9 percent at 0830 GMT.

https://www.linkedin.com/feed/update/urn:li:activity:6829313410375704576

The firm said its main Boss brand suffered a currency-adjusted 5% drop in second-quarter revenue, while Hugo, geared at a younger demographic, saw a 2% increase. While sales of casual designs have continued to rise as the working-from-home trend encourages more relaxed clothing, Hugo Boss has reported a rebound in formal wear sales due to pent-up demand for business and party attire. Hugo Boss claimed sales were up 7% in the United Kingdom compared to 2019 and up 33% in mainland China, according to preliminary second-quarter figures released last month. Despite demands for a boycott of Western goods started in late March in response to Western claims of forced labor in Xinjiang, China's comeback occurred despite at least three Chinese celebrities quitting Hugo Boss in March.

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2. The Souled Store to expand product portfolio

3. In Q2, Under Armour maintains its growth trajectory and improves its outlook

4. Amazon India launches new 'Specialized Fulfillment Center' in Hyderabad

5. Flipkart vows to comply with Indian laws on FDI