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Almo, D2C Men’s Innerwear brand raises $2mn in pre-Series A round led by Inflection Point Ventures

26 May 2022, Mumbai:

D2C Men’s Innerwear brand Almo raises $2mn in pre-Series A round led by Inflection Point Ventures

● Funds raised will be used to strengthen its branding and marketing, along with its R & D lab, for an innovative and viable product range

● The company plans to clock Rs 100 crore in revenues by this year's end

● Almo retails sustainable essential wear for men

● IPV has so far invested Rs. 400 crore across 120+ deals

 

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Almo, a fast-emerging D2C brand in the men’s premium essential wear space, has closed its pre-Series A funding of $2mn led by Inflection Point Ventures along with LetsVenture, AngelList India, and leading angels from the industry.

Almo intends to bolster its branding & marketing efforts along with setting up its state-of-the-art R&D lab to continue innovating on sustainable product lines.

Abhishek Shah, Co-Founder & CEO said “Almo’s vision is to be the one-stop essentials’ destination for the evolved man, led by product innovation and customer obsession. We are thrilled and look forward to the partnership with IPV in this phenomenal journey, and we are just getting started!

We have always followed a lean approach to scale with positive unit metrics, with this funds infusion we plan to continue strengthening our team & brand to scale across various online marketplaces, though D2C continues to be our primary channel which has been an edge against the traditional incumbents.

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It also plans to explore international markets this year via Amazon's Global Selling Propel Accelerator program access!”

Mitesh Shah, Co-Founder, Inflection Point Ventures says, “Almo with its clear vision to make premium sustainable men’s essential wear is deep-rooted in consumer engagement via a digital-first approach, has a great potential to bridge the gap in the market. With the growing need and evolving market, IPV aims to extend its expertise to strengthen the brand’s sustainable and innovative Men’s product line.

Additionally, IPV looks forward to scaling its primary market and helping them tap the global market in the near future. Launched in June 2020 by Abhishek Shah, Muskaan Jain, and Chhavi Bhardwaj, Almo is bringing the Italian seamless designs & sophistication to the Indian men's closet at the right price point.

With sustainability as one of the core ethos, the brand offers minimalistic designs through a range spanning underwear, topwear, loungewear & winter wear. The brand has grown tremendously in terms of revenue and offerings in a short time since its inception and aims to cross Rs 100cr revenue by year-end.

Almo also plans to strengthen its 30+ people team with strategic hirings across key areas to lay the foundation for the long-term scale-up opportunities. With a focus on bringing an elevated experience to the new-age digital users, Almo is constantly iterating its product to solve the consumers’ problems of accessing premium quality essentials wear with the right style & comfort balance delivered seamlessly.

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From launching with innerwear in 2020 to having a broader range of loungewear & winterwear, Almo has been making everyday premium essential wear with a modern twist.

The team is driven to imbibe sustainability in every part of the value chain to make a long-term positive impact.

About Almo, Almo is a fast-emerging D2C men’s premium essential wear brand that aims to fulfill the aspirations of evolved Indian men to upgrade to international style, quality, and trends. Inspired by the Italian minimalist style ethos, Almo’s products are crafted with environmentally friendly, sustainable fabrics for superior comfort and functionality.

Their range includes underwear, topwear, loungewear, and winter wear. About Inflection Point Ventures Inflection Point Ventures is an angel investing platform with over 7000 CXOs, HNIs, and Professionals to together invest in start-ups. The firm supports new-age entrepreneurs by providing them monetary & experiential capital and connecting them with a diverse group of investors.

Starting in 2018 IPV believes that ‘Everyone can Grow with Start-ups.’

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Almo, D2C Men’s Innerwear brand raises $2mn in pre-Series A round led by Inflection Point Ventures

Aditya Birla Fashion and Retail: Sandeep Pal's journey to success

26 May 2022, Mumbai:

From a Manager to becoming the CEO. Sandeep Pal's journey to success is truly inspiring for everyone!

Having joined Pantaloons as a manager in the CEO's office in 2009, he firmly believes that experiments and risks are the keys to a successful business and that your peers are crucial in supporting your growth. True to his faith in #ABFRL, he received all the support and motivation required to achieve his true potential and rise to the ranks as the CEO of Tasva.

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About Aditya Birla Fashion and Retail Ltd. (ABFRL)

It emerged after the consolidation of the branded apparel businesses of Aditya Birla Group comprising ABNL's Madura Fashion division and ABNL's subsidiaries Pantaloons Fashion and Retail (PFRL) and Madura Fashion & Lifestyle (MFL) in May 2015. Post the consolidation, PFRL was renamed Aditya Birla Fashion and Retail Ltd.

Aditya Birla Fashion and Retail Limited is part of a leading Indian conglomerate, The Aditya Birla Group. With revenue of Rs. 5,249 cr. spanning retail space of 8.4 million sq. ft. (as of March 31, 2021), it is India’s first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats.

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The Company has a network of 3,212 stores across approximately 31,000 multi-brand outlets with 6,800+ points of sales in department stores across India (as of 31st March 2021). It has a repertoire of leading brands such as Louis Philippe, Van Heusen, Allen Solly, and Peter England established for over 25 years. Pantaloons is one of India’s largest fast-fashion store brands.

The Company holds exclusive online and offline rights to the India network of California-based fast fashion brand Forever 21.

The International Brands portfolio includes - The Collective, India's largest multi-brand retailer of international brands, Simon Carter, and select mono-brands such as American Eagle, Ralph Lauren, Hackett London, Ted Baker, and Fred Perry. Van Heusen Innerwear, Athleisure, and Activewear are establishing itself as India's most innovative and fashionable brand.

The Company’s foray into branded ethnic wear business includes Jaypore and strategic partnerships with Designers Shantanu & Nikhil’, ‘Tarun Tahiliani’ and ‘Sabyasachi’.

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CREDITS: ABFRL Linkedin  (The news article has not been edited by DFU Publications staff).

Aditya Birla Fashion and Retail: Sandeep Pal's journey to success

Cute Dress Industry Ltd. is now UK Brand NEXT approved factory

21 May 2022, Mumbai:

ABOUT COMPANY

Sheikh H M Mustafiz, Managing Director is the founder and dreamer of Cute Dress.

He is a passionate change maker of Bangladesh's ready-made garment (RMG) industries to top-notch niche manufacturer instead of a bottom of the pyramid manufacturer.

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Back in 2003, he started his own business and established his connection in Nordic countries. Currently, Cute Dress is exporting to more than 40+ high-end brands in Denmark, Sweden, Norway, Germany, Canada, the USA, Japan, Australia, and a few other countries.

Cute Dress is mainly producing circular knitwear for high-end and niche brands which has higher value and quality. Cute Dress can handle small orders in a very efficient way. The workforce is skilled and passionate about getting the tasks done with the highest level of standard. It runs on the whirlpool of the experienced management team.

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NEXT plc is a United Kingdom-based retailer, which offers clothing, footwear, accessories, beauty, and home products. The Company's segments include NEXT Online, NEXT Retail, NEXT Finance, NEXT International Retail, and NEXT Sourcing.

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CREDITS: Cute Dress Industry Ltd Linkedin (The news article has not been edited by DFU Publications staff).

Cute Dress Industry Ltd. is now UK Brand NEXT approved factory

Linen Club: Latest offering LINEN CLUB WOMAN

20 May 2022, Mumbai:

Company's latest offering LINEN CLUB WOMAN. - a ready-to-wear collection of linen garments.

Its DYNAMIC, BEAUTIFUL, ELEGANT and NATURAL collection brings all the magical properties of linen in the most versatile and timeless designs to create a range company is truly proud of.

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ALL-NEW WOMENSWEAR COLLECTION - GET PASSION READY.

Women Of Passion#FeelsLikePassion..Shop Our Latest Ready-To-Wear Womenswear Range.

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About Company At our manufacturing plant, JayaShree Textiles, it has taken multiple steps to ensure a truly sustainable product offering.

It has innovated on this sustainable fabric through our Wealth-Out-Of-Waste (WOW) programme. It upcycles flax waste to create blended yarn and linen-rich fabric blends, as well as ready-to-wear apparel.

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CREDITS: Linen Club Linen Club (The news article has not been edited by DFU Publications staff).

Linen Club: Latest offering LINEN CLUB WOMAN

Sector Skill Council donates 51 lakhs CSR to NSDF for skill development & capacity building

19 May 2022, Mumbai:

Apparel Made-ups, Home Furnishing Sector Skill Council donates 51 lakhs CSR fund to National Skill Development Fund (NSDF) for skill development and capacity building.

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Committed to Skill India Mission, Apparel Made-Ups Home Furnishing Sector Skill Council (AMH SSC) donated Rs. 51 lakhs from their Corporate Social Responsibility (CSR) funds to National Skill Development Fund (NSDF) to empower the youth of India with skill training. The cheque was presented by Shri Premal Udani, Chairman AMH SSC to Shri Rajesh Aggarwal, Secretary MSDE, in the presence of Shri Ved Mani Tiwari, COO & Officiating CEO, NSDC and Dr Roopak Vasishtha, CEO AMH SSC. The fund will be utilized in the capacity building of the skilling ecosystem.

Education and skill development are fast emerging as the preferred choice for CSR initiatives in India. By utilising CSR funds in a planned way, companies can not only boost the Skill India Mission but also have a huge impact on skilling India and millions of livelihoods by creating a robust labour market.

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CSR funds can also contribute towards scaling up skill development initiatives by financially supporting activities across the skill development value chain, capacity building and managerial support. Lauding the decision of AMHSSC, Shri Rajesh Aggarwal, expressed his confidence that such a contribution will help expand the skilling sphere and add new avenues to the list of areas of skill development.

He further said that the corporate sector’s support can play a big role in making skill development efforts more inclusive so that the skill divide will be minimized.

Companies have resources, infrastructure, machinery, and expertise that can support the endeavour of skill development in the country, he added Shri Rajesh Aggarwal urged more organisations to come forward and get involved in the skill-building activities and help strengthen the Skill India Mission.

Shri Premal Udani, Chairman, AMHSSC, said that given the huge task of achieving the target and maintaining the quality and sustainability of the skill development mission being pursued in India, we realised that the Ministry of Skill Development and Entrepreneurship would be a perfect choice to fulfill our CSR contributions, as they have extensive expertise and a focused vision towards skilling the youth of the country.

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CREDITS: PIB (The news article has not been edited by DFU Publications staff).

Sector Skill Council donates 51 lakhs CSR to NSDF for skill development & capacity building

Taiwan Excellence’s Webinar-Smart Tech, Smart Clothing

24 May 2022, Mumbai:

Taiwan Excellence’s "Smart Tech, Smart Clothing" Webinar Highlights Innovations from Taiwan for the Outdoor Industry.

May 26th virtual event offers buyers a first look at smart wearables for outdoor sports and fitness.

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Outdoor Retailer Summer Show — Wearable devices, once a novelty, are today a "must-have," thanks in part to a heightened focus on healthful living and growing comfort with technology. Now, wearables combined with smart textiles — "smart wearables"— are the upcoming hot items in the outdoor industry.

RELEVANT NEWS

Taiwan Excellence — the symbol encapsulating Taiwan’s best and most innovative products — will host a "Smart Tech, Smart Clothing: Innovations from Taiwan for the Outdoor Industry" webinar on May 26 to showcase and familiarize buyers with the country’s cutting-edge "smart wearables" designed for outdoor sports and fitness.

Tune into Taiwan Excellence’s "Smart Tech, Smart Clothing: Innovations from Taiwan for the Outdoor Industry" online webinar on Thursday, May 26.

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CREDITS: Finance.Yahoo (The news article has not been edited by DFU Publications staff).

 Taiwan Excellence’s Webinar-Smart Tech, Smart Clothing

YKK Digital Showroom Links Digital and Real Worlds

20 May 2022, Mumbai:

YKK Digital Showroom Links Digital and Real Worlds - Company Marks One Year Anniversary of New Communication Platform.

Taking the real-world YKK London Showroom in England as inspiration, the YKK Digital Showroom is an online space that consists of six virtual floors showcasing company products from zippers and buckles to hook & loop fasteners, snaps and buttons, and more.

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Since its opening in April 2021, the space has continued to grow with new content such as product information, product development stories, and customer feedback, and language support in Japanese, English, and Chinese.

It has received over 470,000 visitors from Japan and around the world.

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With content that includes region-specific products from Europe and the U.S., China, and Japan, a chance to experience the wearable TouchLink® zipper pull with a built-in NFC chip, sustainability stories, and more, the showroom provides information of interest to customers that go beyond just product information.

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YKK Digital Showroom Links Digital and Real Worlds

BGMEA President mentions the impressive progress of RMG industry in terms of sustainability

18 May 2022, Mumbai:

Huawei Technologies willing to support RMG sector in renewable energy.

Chinese telecommunications giant Huawei Technologies is willing to provide technical solutions and support to the RMG industry of Bangladesh in increasing capacity of renewable energy generation in the sector.

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A delegation of Huawei Technologies (Bangladesh) Ltd expressed the interest when they paid a call on BGMEA President Faruque Hassan at BGMEA’s PR office in Gulshan, Dhaka on May 11.

BGMEA Vice President Miran Ali was also present at the meeting.

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They had discussions on the possible scope of increasing renewable energy usage by using solar plants in the garment industry and how Huawei can provide its technical solutions to achieve the objective.

BGMEA President Faruque Hassan mentioned the impressive progress of Bangladesh’s RMG industry in terms of sustainability and continuous strides in pursuing excellence in the area.

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CREDITS: BGMEA (The news article has not been edited by DFU Publications staff).

BGMEA President mentions the impressive progress of RMG industry in terms of sustainability

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