29 November 2022, Mumbai:

As per a prediction by the Indian Brand Equity Foundation (IBEF), a trust established by the Ministry of Commerce and Industry, the golden age of retail is here as the sector is poised for mega growth. Valued at $0.8 trillion two years ago, it is expected to reach $1.5 trillion by 2030. Today, India is regarded as the fifth-largest place for investing in retail space. Accounting for 8 per cent of India’s work force and 10 per cent of its GDP, retail in India is not only showing its dynamism in growth but also a lucrative area for investment.

Key drivers fuelling growth

Government’s policy support has been a welcome incentive. As per these policies, about 51 per cent FDI in multi-brand retail and 100 per cent FDI in single-brand retail through the automatic route are being implemented. The government approved a PLI scheme in April 2022 and the beneficiary is the textile sector. This scheme will enormously boost the sector’s manufacturing and export capabilities.

The approved financial outlay stands at Rs 10,683 crores. The proof of the sector’s attractiveness is evident with the increase in the entry of foreign retailers entering the market. IBEF states, the cumulative FDI inflows stood at $588.53 billion between April 2000-March 2022 and India’s retail trading sector attracted $3.96 billion FDIs between April 2020 and March 2022.

Additionally, innovative financial solutions between retailers and Indian financial institutions that offer easy credit are driving consumer demand for durables. And as per the Retailers Association of India (RAI), the retail industry achieved 96 per cent of pre-COVID-19 sales in September 2021, driven by the rising demand from consumers.

Consumer consumption fuelled by love for brands

As India’s middle-class grows and virgin territories of India’s retail markets remain untapped, international retail giants are zooming in on them, making their presence felt in these untapped markets. This in turn is helping local retail sector grow quickly. Urban India is spending more on its love for branded products across the board – clothes, accessories, footwear, jewellery et al. All these are evolving as business and lifestyle categories, seen as attractive by urban consumers spread across Tier I, II cities.

Soon, India is expected to displace the US to become the second largest online market after China. Predictions are, Indian logistics companies will have the capabilities of delivering 2.5 billion D2C shipments by 2030. The e-commerce boom has been an unprecedented one. Although faced with daunting challenges due to the pandemic and subsequent global economic slowdown, India continues its consumption well. Growing purchasing power, accessibility to a plethora of products and services, awareness and a change in attitude towards lifestyle are key drivers – household consumption in India stood at Rs 140 trillion in 2021.

Well-known success stories

One the big corporate success stories of Indian retail is the Aditya Birla Fashion and Retail (ABFRL). A 411 per cent in consolidated profit of Rs 29.44 crores in the Q2 FY23 was attributed to a fantastic festive season and unabated flow from its e-commerce platforms. Compared to this year, last year’s net profit for Q2 was a mere Rs 5.09 crores. Avenue Supermarts, the company operating the D Mart supermarket chain is another shining retail story. The company reported a robust 63 per cent year-on-year increase in net profit at the end of Q2 FY 23 at Rs 730.48 crores. It has earned the distinction of being India’s most profitable low-cost retailer that is helping shift Indian retail from the unorganized to the organized sector.

Long identified as a write-off, Bata India has recovered and come in to play, riding the wave of India’s retail success. Net profit in Q2 FY 23 rose 47.44 per cent at a consolidated net profit of Rs 54.82 crores.

Indeed, its happy times for this vast category as it continues rolling into a future of promise and profits.

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05 November 2022, Mumbai:

A fashion show organized by Liva celebrated designers from India and Thailand.

The event saw the designers infuse natural fluid fabrics from Liva alongside fabrics from Thailand to roll out exclusive collections celebrating the two nations’ penchant for all things fashion, culture, and art. This fashion showcase brought together the storied heritage of textiles from both India and Thailand, alongside innovations in circular fashion systems via Liva.

The overarching theme of the showcase was the meeting of storied traditions with sleek modern sensibilities, resulting in versatile and vibrant collections that played it strong with surfacing techniques, draping, and bold palettes. The surfacing techniques showcased were inspired by both Indian and Thai textile traditions, and the silhouettes were a mélange of ethnic and contemporary sensibilities.

Liva is a natural fluid fabric brand from Birla Cellulose, an Aditya Birla company. Liva is a brand making waves in crafting renewable natural fabrics that don’t compromise on quality and boast of ultra-smooth and luxurious textures.

Liva fabrics are ethically brought to life using wood pulp from certified forestry and allow for decadent drapes amid traditional embellishment techniques.In a fast fashion world, initiatives such as Liva pave the way for aesthetically pleasing and ecologically friendly fashion.

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09 November 2022, Mumbai:

Cantabil’s total income was Rs 116.7872 crores during the period ended September 30, 2022, as compared to Rs 101.6634 crores during the period ended June 30, 2022.

Net profit / loss was Rs 9.2783 crores for the period ended September 30, 2022, as against net profit / loss of Rs 14.1242 crores for the period ended June 30, 2022. EPS was Rs 5.68 for the period ended September 30, 2022, as compared to Rs 8.65 for the period ended June 30, 2022, as compared to Rs 4.76 for the period ended September 30, 2021.

Total income was Rs 218.4506 crores during the six month period ended September 30, 2022, as compared to Rs 129.2821 crores during the six month period ended September 30, 2021.

Net profit / loss was Rs 23.4025 crores for the six month period ended September 30, 2022, as against net profit / loss of Rs 6.2211 crores for the six month period ended September 30, 2021. EPS was Rs 14.33 for the six month period ended September 30, 2022, as compared to Rs 3.81 for the six month period ended September 30, 2021.

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21 December 2022, Mumbai

The Indian luxury market is expected to grow by ten per cent over the next five years.

The country’s fashion market is driven by premiumization, greater penetration of e-commerce and a higher focus on private labels as well as entry of international brands. Wealthy GenZ buyers are making a beeline for high-end stores. They are keen to splurge, and spend the big bucks right now.

Surge in ultra high net-worth individuals

There's also a surge in the number of Indian ultra high net-worth individuals. This population has risen 11 per cent between 2020 and 2021, and is expected to grow by as much as 39 per cent between 2021 and 2026. These big spenders are powering the Indian luxury market. India's luxury goods market is expected to grow annually by eight per cent. The number of wealthy Indians has grown substantially over the last decade. There has been an 11 per cent increase in people with incomes above $30 million since 2011. That number is expected to climb to 39 per cent by 2026.

Global brands have been making a beeline into India though strategic tieups. India has also been voted as the seventh most valued nation brand. With an increase in 32 per cent in its brand value, India has moved up one position in the most-valued nation brands list.

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03 November 2022, Mumbai:

Winter wear manufacturers in Ludhiana have been stumped by this year’s warm start to the season.

The industry is staring at losses due to lackluster demand, especially from retailers spread across the country. Moreover, 20 percent of last year’s inventory is still with the industry.

October generally is a hectic time for the city’s winter wear manufacturers when a significant percentage of retailers lift their orders from the manufacturers or wholesalers. However this year the industry is staring at losses due to a significant drop in the off-take of winter wear orders.

Economic uncertainty and high inflation are considered to be the main reasons keeping customers away from anything which is priced a little higher. Over the last few years, people have built their capacity, but utilization is not optimum because of the slowdown in demand. Brands catering to the middle class have been hit. Online is making a killing with portals offering huge discounts to customers.

Ludhiana in Punjab accounts for over 90 percent of the total winter wear production in the country. There are around 12,000 units, a majority of them in the micro, small and medium category, which are engaged in the production of winter wear in Ludhiana. Winter wear comprises basic sweaters, hoodies, sweatshirts, jackets, shawls, cardigans, and trousers.

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07 November 2022, Mumbai:

Purple Turtle has launched T-shirts for children two to five years.

The T-shirts have been made out of skin-friendly fabric – soft, breathable 100 per cent cotton that infants, toddlers, and preschool-age children can feel comfortable wearing all through the day. Available in regular fit in three different sizes, these tees come in four bright colours – white, black, blue, and yellow.

The designs include cute, colourful animal characters seemingly ready to accompany kids on all their day-to-day adventures. The tees have been designed with fun, comfort, and style in mind. In line with the brand’s commitment to ensuring children’s safety and well-being, water-based and non-hazardous inks have been used for printing

Purple Turtle children’s T-shirts. Cotton is biodegradable and recyclable, so this collection will appeal to climate-conscious modern millennial parents who are increasingly shifting towards sustainable clothing options.

Purple Turtle, a leading children’s edutainment brand, is also toying with the idea of having more clothing lines for children, similar to the T-shirts – high-quality, fun, sustainable, and gender-neutral, all of which resonate with the spirit of Purple Turtle.

The children’s apparel market in India is growing at five percent a year. The market is primarily driven by the rising number of nuclear and double-income households in India.

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02 November2022, Mumbai:

For the second quarter, SP Apparels’ revenue rose by 38 percent.

Consolidated net profit was Rs 23 crores for the quarter and total income stood at Rs 567 crores. SP Apparels, based in Tirupur, makes and exports knitted garments for children.

The company, set up in 2012, operates 21 manufacturing facilities in Tamil Nadu and owns the women’s wear brand Natalia and also has the exclusive right to manufacture, distribute, and market products under the Crocodile brand in India.

SP Apparels acts as a one-stop destination. The belief that customer satisfaction is as important as their products and services has helped this establishment garner a vast base of customers, which continues to grow by the day.

This business employs individuals that are dedicated to their respective roles and put in a lot of effort to achieve the common vision and larger goals of the company. In the near future, this business aims to expand its line of products and services and cater to a larger client base.

The company has integrated manufacturing facilities that provide end-to-end garment manufacturing from greige fabric to finished products. The company’s business consists of two main divisions, a garment division for the manufacture and export of knitted garments for infants and children, and a retail division for the manufacture, distribution, and marketing of products in India under the brand name Crocodile.

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09 November 2022, Mumbai:

A new battle rages on, fuelled by the politically-correct opinion leaders – that of cultural appropriation. Whilst it may be considered limiting for the ever-seeking fashion sector, always on the lookout for new ideas, there is a solid case for appropriation too. When indigenous designs and craftsmanship are superimposed on items that have no context to the said design and craftsmanship, then it is termed as fusion but the flipside is blatant appropriation.

Global footprint for Indian designs

India has for centuries been associated with the finest in textile, embroidery, prints and craftsmanship – from ornate brocades to exquisite and grand jewellery. In fact, luxury was perhaps invented in the royal courts of Bharat before the Romans discovered and fell head over heels in love with luxury. It was India that gave the world its first taste of the finest fabrics with intricate weaves and statement accessories in gold and silver, studded with diamonds, emeralds, sapphires and rubies.

Word has it that the intricate patterns of India created the vision Louis XIV had for the magnificent Versailles. In Napoleonic France and through the novels of Jane Austen in Regency England, we see how wearing fine Indian muslin denoted the consumer’s status, taste and connoisseurship. Such was the popularity of textiles like the brightly-painted chintz, that France and England placed decades-long bans on their import in the 18th century in order to protect their own silk and wool mills. However, the desire for these vibrant textiles meant that despite hefty fines, they were smuggled as contraband and worn in the privacy of the home.

Indian embroidery is loved across the world and designers have made embroidery a contemporary statement in the Western fashion world. Another Indian contribution is draping. Be it a sari or a dhoti, Indian dress patterns often include a lot of pleats. This pattern has been creatively adopted in forming ruffle crop tops and drapes for gowns. Indo-western outfits are a coalition of elements from Indian traditions and western world of apparels. Indo-western looks include a fun styling experience of matching and accessorizing elements of both cultures to create an alluring ensemble. Already popular in India, it is spreading across Europe in particular.

Are Indians seeing this entire legacy of transfers of their design and craftsmanship to the West as cultural appropriation? In all possibilities, Indians haven’t yet jumped on to the “cultural appropriation bandwagon and rather interpret it as appreciation. The trend to capitalize on Indian design has benefitted Indian designers as their fusion wear is gaining popularity globally for fashionistas with a luxury edge. Additionally, our craftsmen are gaining more work as bespoke designs are being ordered for in mass quantities. Fashion houses are commissioning exclusive patterns inspired by the traditional Indian designs of various regions.

In such a scenario, India seems to be not only regaining its pole position as the provider of beautiful, exquisite and timeless luxurious items but also adding this to its portfolio of soft skills to charm the world.

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05 November 2022, Mumbai:

SuperBottoms has a kiosk in Mumbai. With this, the direct-to-customer brand retails its range of eco-friendly baby-care products. The new kiosk is designed to build brand visibility offline and showcase its range of baby underwear.

This, the brand’s first kiosk, is aimed at creating a holistic phygital experience for SuperBottoms consumers. Following the launch, SupperBottoms plans to open six additional kiosks across India by March 2023. For a purpose-led brand like SuperBottoms, venturing to the offline channel is aimed at boosting awareness and helping attain scale via reaching a larger audience on-ground beyond digital.

Trained staff will assist customers in facilitating convenient shopping. The offline stores will ensure that SuperBottoms’ offerings align with consumers’ needs and wants. Having an offline presence allows parents to feel and touch the product and experience it for themselves before purchasing it. On the business front, since India is still a highly offline-oriented market, going online helps develop the category and get it to all parents in India.

SuperBottoms, based in Mumbai, is a children’s wear start-up and was launched in 2016.

The children’s wear market in India is mostly dominated by private labels -- big retailers, international brands, and just a handful of home-grown mono brands.

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