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Trade 2025-04-25

MyDesignation targets expansion, technology enhancement with $1.25 million seed funding

Fashion and lifestyle D2C startup MyDesignation plans to expand its operations with $1.25 million (Rs 10.7 crore) capital raised in a seed funding round led by Multiply Ventures.

The funding around also attended by Veltis Capital, Sattva Ventures, Dominor Investment Holdings, and Green Trunk Ventures.

The raised capital will be used MyDesignation to accelerate its hiring, technology enhancement, offline expansion, and entry into newer geographies.

Having already achieved 100 per cent Y-o-Y growth for four consecutive years while also staying profitable, the company plans to raise this growth to 200 per cent Y-o-Y without compromising on its financial discipline and customer satisfaction, says Swaroop Krishnan, Co-founder and CEO, MyDesignation.

The company does not depend on third-party platforms for marketplaces, helping it achieve better control over the entire customer journey and deliver one of the best experiences in fashion, adds Gopika B Raj, Co-founder and CCO. The company’s business model allows it to stay intune with its customers’ sentiments and feedback, fuelling its product design and communication strategy, she adds.

Having a customer base of over 5 lakh consumers, MyDesignation was founded in 2020. The company records a monthly repeat rate of 35 per cent, and plans to double this user base within the year.

Trade 2025-04-25

MyDesignation targets expansion, technology enhancement with $1.25 million seed funding

IHGF Delhi Fair-Spring 2025 opens in India with sustainability and artistry at the forefront

The 59th edition of the IHGF Delhi Fair-Spring 2025, organised by the Export Promotion Council for Handicrafts (EPCH), opened on April 16 at the India Expo Centre & Mart, Greater Noida. The four-day fair presents a vibrant sourcing platform spotlighting sustainability, handcrafted value additions and inclusive growth, and will run till April 19.

The event features over 14 curated segments including home décor, furnishings, fashion jewellery, furniture, outdoor and garden accessories, eco-friendly products, and festive decor. Dedicated halls display a wide array of artisanal and contemporary collections from across India. A special Designer’s Gallery, workshops, ramp shows, seminars, and display awards add to the immersive trade experience.

EPCH Chairman Dileep Baid said the fair is drawing strong international participation. “Our exhibitors are focused on sustainability and innovation, including regional deco-utility lines and new product introductions by start-ups,” he said. Live demonstrations of six traditional crafts including Madhubani painting, bangle-making and Pashmina weaving highlight India’s artisanal diversity. Alumni from institutes like NIFT, NID and IIT are showcasing designs using circular and recycled materials.

Rakesh Kumar, Director General and Chief Mentor, EPCH, called the fair a progressive global sourcing hub. He noted that while new US tariffs apply globally, India remains competitively placed compared to China, Vietnam, and Cambodia. “The 90-day US tariff pause gives India a window to pursue a bilateral trade agreement,” he added.

Buyers from across the globe, including major American wholesalers, are actively participating in this edition.

Trade 2025-04-19

Ace Turtle to double revenues to Rs 1,000 crore by FY28

Bengaluru-based tech and integrated manufacturing retail company Ace Turtle, which operates well-known brands like Lee, Wrangler, Toys ‘R’ Us, Babies ‘R’ Us, and Dockers in India, plans to double its revenue to Rs 1,000 crore by FY 2027-28. Nitin Chhabra, CEO, informs, the company aims to grow each of its brands to Rs 500 crore by FY 2035.

Founded in 2014, Ace Turtle has witnessed rapid growth, with revenue more than doubling in FY23 compared to the previous year. The company’s tech-driven approach, which eliminates middlemen and ensures price parity across channels, has contributed to the profitability of brands like Lee and Wrangler by FY24. Initially launched as a software-as-a-service (SaaS) platform, Ace Turtle has since evolved into a licensing and franchise model, becoming the India franchisee for several global brands.

Despite challenges in the fashion apparel market, Ace Turtle managed to grow its top line by 30 per cent in FY23, defying market trends. The company has shifted its focus to enhancing supply chain efficiency and developing algorithms that can predict sales with up to 88 per cent accuracy. Improving supply chain operations remains a priority, as Chhabra believes, retail margins will increasingly depend on operational efficiency.

In addition to supply chain innovations, Ace Turtle leverages advanced AI systems to track customer behavior and product performance in its stores. The company has also developed an in-house app, Connect, to streamline operations such as employee attendance and training. Although Ace Turtle has no plans to return to the SaaS business, it remains focused on improving its tech development speed and solving internal challenges.

Chhabra also highlights the evolving retail landscape in India, with offline sales gaining momentum after an initial surge in online sales post-pandemic. Ace Turtle is committed to data governance, ensuring strict compliance with customer consent protocols and transitioning to a hybrid cloud model to enhance data security. The company is making its tech stack cloud-agnostic, currently using both Amazon Web Services (AWS) and Google Cloud.

Looking ahead, Ace Turtle plans to introduce a new international brand in January 2025, with intentions to launch one new global brand each year. The company aims to expand its portfolio beyond fashion and into other sectors, positioning itself as a leader in the rapidly evolving Indian retail market. Emphasising on the importance of technology in building a future-proof business model, Chhabra highlights the need for experimentation and quick adaptation to consumer behavior.

Trade 2024-09-28

Ace Turtle to double revenues to Rs 1,000 crore by FY28

Jisora targets Rs 60 crore revenues in FY’24

In financial year 2024, women’s wear brand Jisora aims to achieve revenues of Rs 60 crore.

Founded by four scions of the Sethi family including brothers Kavya, Mehul and Tushar, and sister Khushboo, the brand aims to expand its offline retail presence through franchise stores across the country while strengthening its online presence.

Anticipating saturation in the loungewear market, the brand plans to focus more on western wear and resort wear. Additionally, it plans to include kids' wear and menswear, leveraging their existing resources and market knowledge.

Leveraging its family's expertise in manufacture and wholesale of traditional clothing like saris, kurtis, and lehengas, Jisora has carved a niche in the fashion world. The brand’s transition into loungewear, western wear, and resort wear capitalises on the growing demand for fashionable daily wear that prioritises comfort.

One of Jisora's key strategies has been to launch an average of 40-50 new designs each month. Coupled with reasonable pricing, this commitment to innovation has helped the brand disrupt the market and attract a loyal customer base.

Trade 2024-04-01

Businesses rooted in craft should be exempt from tariffs, says designer Sabyasachi Mukherjee

Renowned Indian designer Sabyasachi Mukherjee opines, businesses rooted in craft and local culture should be exempted from tariffs.

This would allow them to thrive, preserving cultural heritage while enriching the global marketplace, he argues.

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Pointing out to a common disconnect between global luxury brands and Indian consumers, Mukherjee explains, international brands fail in India as they don’t understand the cultural nuances of this country. To succeed here, designers need to focus on creating a story, a connection, a reason for the price point.

As Indians emphasize on the products’ value, brands need to define their value clearly, he adds.

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Mukherjee sees immense opportunity in today’s shifting geopolitical landscape, particularly as US trade tariffs reshape global commerce. As tariffs push countries, designers, markets, and influencers to explore new alliances, it’s time for Indian brands to rise collectively, he asserts.

Beginning his journey as a fashion designer in the suburbs of Kolkata, Mukherjee was deeply influenced by the cultural traditions of West Bengal. After graduating from fashion school, he chose to build his own brand that not only honors the Indian heritage but also pushes the boundaries of contemporary luxury.

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His debut at New York Fashion Week in 2006 was dismissed by critics as being ‘too ethnic.’ But rather than compromising on his vision, Mukherjee focused on redefining Indian fashion. He says, being strong in their identity is the only way for Indian brands to succeed. If they don’t have a unique voice, they’ll never be heard on the world stage, he adds.

Though his designs have remained largely consistent over the years, global perceptions have shifted. Today, his name commands respect — not just for his garments, but for the cultural richness they represent.

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Trade 2025-04-14

FS Life promotes Adarsh Sharma as Co-founder

Owner of brands like FableStreet, Pink Fort and March, FS Life has promoted Adarsh Sharma to the ranks of co-founder.

In his new role, Sharma will be responsible for driving the brand’s both online and offline expansion besides assuming additional responsibilities as the co-founder. Having joined FS Life in 2020 as chief revenue officer, Sharma has played a critical role in driving the company’s 15x revenue growth.

Ayushi Gudwani, Founder CEO, FS Life says, Sharma’s drive and commitment to take FS Life to new heights every day has been a force multiplier for the brand.

With over 13 years of experience in roles across business operations and marketing, Sharma was previously engaged with companies like Zomato, Rebel Foods, and Junglee Games.

Trade 2024-09-27

FS Life promotes Adarsh Sharma as Co-founder

Indian luxury poised for global takeover, says Business Standard Manthan Summit

The Indian luxury market is on the cusp of a major transformation, with experts at the Business Standard Manthan 2024 summit predicting the rise of an Indian luxury brand to rival giants like Chanel within the next five years.

Alexis de Ducla, director of Mathieu Lustrerie, a renowned lighting company, believes India has all the ingredients for success: a rich heritage of craftsmanship, a growing economy with rising aspirations, and increasing investment in homegrown brands.

This optimism is backed by data. India is currently one of the fastest-growing luxury markets globally, projected to reach a staggering $200 billion by 2030 according to Bain & Company.

Shifting consumer preferences and corporate backing fuel growth

Consumers are also playing a crucial role. Pushpa Bector, a senior executive at DLF Retail, highlights a growing self-confidence among Indian customers who now value quality and design over mere brand names.

This shift has attracted significant investment from corporate houses like Reliance and Aditya Birla, who have taken stakes in established Indian luxury designers like Sabyasachi and Manish Malhotra. These investments have fueled global expansion, with several designers opening stores overseas.

India's Competitive Advantage: Skilled craftsmanship

Abheek Singhi, from Boston Consulting Group, emphasizes India's abundant skilled labor as a key advantage. He believes India's rich heritage of craftsmanship, coupled with readily available capital and land, positions the country perfectly to become a leader in global luxury.

Collaboration, not replication, is key for global brands

While Indian brands are rising, global luxury houses are not sitting idle. Ducla emphasizes the importance of collaboration, urging international brands to showcase Indian artisanship in their collections. This sentiment is echoed by Dior's recent decision to showcase its Fall 2023 collection in Mumbai, featuring Indian craftspeople.

Making Luxury Accessible: The road to global recognition

Nikhil Sethi, a partner at KPMG India, highlights the need for Indian luxury brands to become more accessible to everyday consumers, similar to established brands in developed nations. This, along with strategic pricing, will be crucial for achieving global recognition.

India's hospitality sector, already renowned for its luxurious offerings, serves as an inspiration for the future. Kapil Chopra, founder of Postcard Hotels, points out that Indian hotels have consistently ranked among the world's best, demonstrating the country's long-standing potential in the luxury space.

The Business Standard Manthan Summit paints a bright future for Indian luxury, with homegrown brands poised to take center stage on the global stage. With continued investment, collaboration, and strategic planning, the "Next Chanel" might just be Indian, and it could arrive sooner than we think.

Trade 2024-03-30

Maharashtra expands e-textile portal for better subsidy management

The Maharashtra government has launched the second phase of its e-textile portal to enhance subsidy management and transparency in the textile sector.

Announced by Textiles Minister Sanjay Savkare at an event in Mumbai’s Mantralaya, the update includes a mobile app and the launch of 'Texconnect' magazine for industry insights.

The upgraded portal will now cover silk, handloom, and technical textiles, streamlining the grant process and improving accessibility.

This initiative is part of the state’s broader efforts to digitize the textile sector, making it more efficient and business-friendly.

By centralizing industry information and simplifying subsidy access, Maharashtra aims to strengthen its textile industry and support growth across various segments.

Trade 2025-03-11

Maharashtra expands e-textile portal for better subsidy management

Future Group’s Vivek Biyani returns with Broadway

Vivek Biyani, former director at Future Group, is re-entering the retail sector with the launch of Broadway, a modern departmental store focused on digital-first brands. Inspired by his uncle Kishore Biyani, a pioneer in Indian retail, Vivek aims to cater to the 45 per cent of Indians born in this century with unique retail experiences.

Broadway will feature brands that prioritize digital-first strategies and offer distinctive propositions, such as skincare, sneaker culture, and gut health. Unlike traditional retailers, Broadway will not stock inventory or require long-term commitments from brands. Instead, brands can rent space for flexible periods, paying a fixed fee. Drawing parallels with WeWork’s impact on co-working spaces, Vivek envisions Broadway as a "co-retail" environment.

The 25,000-30,000 square feet stores will host around 100 digital-first brands across various categories, including Wellbeing Nutrition, Suta, Mokobara, Derma Co, Aqualogica, and trueBrown. Broadway aims to create a vibrant retail experience with 10-15 daily events and a content studio to amplify experiences digitally.

The first Broadway store will open in Ambience Mall, Delhi, in August, followed by locations in Hyderabad and Mumbai. The venture is supported by actor Rana Daggubati, investor Apurva Salarpuria, and property consulting firm Anarock.

This launch marks the return of Kishore Biyani’s next generation to the retail scene, with Vivek's cousins Avni and Ashni Biyani having recently opened Foodstories, a gourmet store in Delhi.

Trade 2024-07-19

Future Group’s Vivek Biyani returns with Broadway

Lenskart to add first international brand to portolio with Le Petit Lunetier

Eyewear major Lenskart plans to add first international brand to its portfolio by launching French brand ‘Le Petit Lunetier’ in the Indian market.

Lenskart’s current portfolio comprises mostly company-owned and domestic brands. Last year, the company-back eyewear firm Neso Brands acquired a significant stake in in Le Petit Lunetier for Rs 33 crore.

Peyush Bansal, CEO & Co-founder, Lenskart, says, the company will benefit from the synergy between Le Petit Lunetier's up-and-coming brand status and design expertise and Lenskart's extensive distribution network and deep understanding of the Indian consumer that will together enable it to cater to a fashion-forward audience seeking globally inspired eyewear.

Jérémie Encaoua, Co-founder, Le Petit Lunetier adds, this launch will help the brand achieve its global to expand globally beyond its core markets. Founded in 2015 by Jérémie Encaoua and Elie Attias, Le Petit Lunetier will be available across 50 Lenskart stores in India as well as online via the Lenskart website.

Trade 2024-03-30

Footwear design for FW 26/27

Encouraging a shift away from screen time and our digitally dependent habits, our first FW 26/27 Footwear Product Shift, Touch Grass reminds us to take a moment to pause and take ourselves outside to foster a deeper relationship through kinship with the natural world.

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Here, noting signals emerging in the current footwear market, soles are softer, allowing us to take more conscious steps, tuning our awareness to our inherent impact.

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Chosen with purpose, materials are pliable and gently tactile, lending intention to protective design elements. Dive into this report and our next three thematic Product Shifts covering Footwear, Bags, Jewelry, Eyewear, and Accessories.

CREDITS: FASHIONSNOOPS.COM

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Trade 2024-12-21

Bata India to revitalise brand image and regain market share

Footwear brand Bata India is embarking on a strategic mission under the leadership of CEO Gunjan Shah to revitalise its brand image and regain market share in the highly competitive footwear industry.

The brand aims to achieve 20 per cent of its sales online within the next three years by focusing on digital transformation and brand rejuvenation. It also plans to revamp 30-40 stores quarterly. Moreover, Bata has forged a partnership with Nine West, a premium women's footwear brand, aiming to replicate the success of Hush Puppies over the next five to 10 years.

Despite facing challenges such as stagnant sales growth and underwhelming valuations, Bata is committed to enhancing its premium portfolio while ensuring competitiveness in the mass market segment. The brand is adapting its offerings to cater to younger generations. It is also increasings ad spends and focusing on enhancing brand visibility through various channels.

While Bata captures 10 per cent share in the Indian footwear market, its outdated store network and lack of design variety have led to a loss of mindshare among consumers. To address these issues, Bata is investing in marquee properties, improving visual merchandising, and expanding its omnichannel initiatives
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Analysts remain cautiously optimistic about Bata's future prospects, highlighting the potential for growth in both value and premium segments once inflation softens. With a renewed focus on sneakers and athleisure apparel, Bata aims to bridge the gap between consumer perception and market share.

Bata's strategic initiatives, combined with a stronger focus on customer experience and product innovation, could pave the way for a turnaround in the coming years, believe analysts.

Trade 2024-04-05

New SS’24 collection by Jaypore blends Indian craftsmanship with modern aesthetics

Seamlessly blending age-old Indian craftsmanship with contemporary flair, Jaypore has unveiled its Spring Summer '24 (SS’24) collection. Embracing the essence of the warm season, the collection offers a wide range of breathable cotton garments, featuring floral dresses, kurtis, and trousers, meticulously designed to marry comfort with style.

The SS'24 lineup offers an exquisite collection of Indian crafts, including block prints, ajrakh, hand embroidery, and ikat, etc. A highlight of this collection is the 'Lagom' range. Inspired by the Bauhaus aesthetics, this range seamlessly blends modern design with traditional Ajrakh prints for a captivating fusion of artistry and sophistication.

The Kaashni range features line-drawn floral motifs and vibrant block prints that epitomise the essence of spring. Meanwhile, dedicated to Goddess Parvati, the Gauri range comprises classic ethnic silhouettes and khadi block prints that radiate purity and brilliance.

The Chippa and Aadir menswear collections present modern interpretations of traditional craft techniques, such as hand-pressed block prints and striped patterns, catering to contemporary tastes with finesse.

Besides apparel, Jaypore's SS'24 collection boasts artisanal accessories like tribal silver earrings, filigree necklaces, and temple jewelry. Priced at Rs 3,000 and above, the collection beckons fashion enthusiasts to delve into India's rich legacy of craftsmanship.

Available both in Jaypore stores nationwide and online, the SS'24 collection celebrates the timeless allure of Indian craftsmanship intertwined with modern aesthetics.

Renowned as one of India's premier artisanal brands, Jaypore offers a diverse spectrum of apparel, jewelry, home decor, and accessories. While catering to modern sensibilities, the brand continues to celebrates India’s rich heritage with its showcase of authentic Indian products.

Sooraj Bhat, CEO - Ethnic Business, Aditya Birla Fashion and Retail, says, the SS’24 collection is a testament to Jaypore's unwavering dedication to harmonise traditional craftsmanship with contemporary aesthetics. It embodies the qualities of timeless elegance, comfort and craftsmanship, that are requisite for the season.

Trade 2024-03-14