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Apparel 14-03-2024

Bangladeshi RMG Industry Reports Strong Performance in FY2023-24 (July-February)

14 March 2024, Mumbai

This report analyzes the recently released official export data for the period of July-February FY2023-24, focusing on the performance of the Ready-Made Garment (RMG) sector.

Positive Growth Trajectory:

As sector anticipated in previous communications, the global clothing trade is showing signs of recovery in 2024, following a slowdown in 2023.
RMG exports during the first two months of 2024 reached US$9.47 billion, a significant 13.15% increase compared to the same period last year.
For the entire July-February FY2023–24 period, RMG exports reached US$32.86 billion, reflecting a year-over-year growth of 4.77%. This growth rate is particularly encouraging considering the slower pace (1.72%) observed in the first half (July-December) of the fiscal year.

Record-breaking Achievements:

Notably, January 2024 saw the highest ever RMG export figures for a single month. February 2024 also achieved record-breaking export numbers compared to previous Februarys.
These achievements are particularly inspiring given the numerous challenges the industry has faced on both local and international fronts.

Dominant Industry Share and Entrepreneurial Spirit:

RMG exports accounted for a remarkable 85.45% of Bangladesh's total export earnings in July-February 2023-24. This share increased even further to 86.74% in January-February 2024.
These impressive figures showcase the remarkable resilience and adaptability of Bangladeshi entrepreneurs in the RMG sector.

Sustainable Growth and Future-Proofing:

The recent growth is accompanied by a positive trend in investments in diversified RMG items. This diversification is crucial to safeguarding the industry from vulnerabilities and ensure balanced growth.
Nation's ongoing commitment to sustainability, circular economy practices, worker well-being, and the industry's green revolution remains a cornerstone for continued success. This holistic approach fosters not only economic growth but also environmental and social responsibility, solidifying our position as responsible leaders in the global garment industry.

Navigating Global Challenges and Looking Ahead:

The industry acknowledges the significant challenges faced in 2022 and 2023, including high unit costs in 2022 and ongoing buyer inventory pressures. However, positive signs are emerging, with retail sales in our major markets showing a comeback and advanced economies exhibiting progress in curbing inflation and boosting employment.
As one moves forward, 2024 presents a valuable opportunity for further growth. By diversifying our industry further, embracing modular production practices, and continuously adapting to the evolving global landscape, we can not only overcome these challenges but also propel ourselves to even greater heights.

CREDITS: BGMEA press release

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Apparel 14-03-2024

Levi’s expands EBO network in Eastern India

Iconic American denim brand, Levi’s expanded its EBO network in the Eastern India by opening its 50th exclusive brand outlet (EBO) in Kolkata. Situated at Camac Street, the new stand-alone store promises to bring Levi’s signature style and quality to the local community.

Abhik Sarkar, Assistant Manager - Business Development, Levi Strauss & Co, says, the store symbolises the enduring bond between Levi’s and its customers, rooted in authenticity and innovation. The brand’s dedication to delivering exceptional experiences remains unwavering as it continues to serve the diverse and dynamic community in Kolkata.

The store boasts a comprehensive selection of clothing, accessories, and footwear, catering to both men and women. With its classic Levi’s denim collection, the brand aims to provide customers with timeless fashion choices.

Levi’s began its operations in India in 1994 when it established a wholly owned subsidiary, Levi’s Strauss India Since then, the brand has expanded its presence significantly. Just a year ago, Levi’s unveiled its largest store in Asia, spanning an impressive 7,521 sq ft on the Brigade Road in Bengaluru.

Presently, Levi’s operates over 400 store locations across India, according to data from the SaaS platform Agenty. The brand's global footprint extends to more than 110 countries, with products available in over 45,000 retail locations.

Apparel 13-03-2024

Levi’s expands EBO network in Eastern India

Punit Bulana unveils Spring Summer 24 collection ‘Modern Jaipur’

Renowned designer Punit Balana recently unveiled his Spring Summer 24 collection, titled ‘Modern Jaipur,’ which captures the vibrancy and regality of his hometown. Drawing inspiration from a lively polo match in Jaipur, the collection beautifully intertwines the essence of the city, reflecting high society life with royals and aristocrats.

Incorporating signature colors, Masoom Gulabi and Moonga, into the collection, Bulana imprints his vision of Jaipur's life onto his designs. The palette's softness and bold prints create a perfect fusion of Modern Jaipur aesthetics. Collaborating with creators like Ankush Bahuguna and Sahiba Bali for the campaign, the collection showcases the talent behind the lens.

According to Bulana, the ‘Modern Jaipur Collection’ celebrates the timeless elegance and vibrant spirit of the city of Jaipur.

The collection pays homage to the city's rich past while embracing the contemporary spirit of today's society, confidently making a statement.

Apparel 05-03-2024

Punit Bulana unveils Spring Summer 24 collection ‘Modern Jaipur’

Apparel Group opens shop-in-shop for Beverly Hills Polo Club

In a strategic move, Apparel Group India has partnered with the renowned department store chain Shoppers Stop to open the first India shop-in-shop for Beverly Hills Polo Club.

Situated within Mumbai's bustling R City Mall, this collaboration showcases an extensive array of men's smart casual wear.

The newly unveiled open-plan shop-in-shop debuts with Beverly Hills Polo Club's vibrant spring collection. The collection offers a curated range of button-down shirts, lively polo shirts, graphic t-shirts, and a dedicated denim section.

Located in Ghatkoparm, Mumbai, R City Mall stands as a prominent hub housing a diverse array of both Indian and international fashion and lifestyle brands. Notable names such as Aldo, H&M, Vero Moda, Reliance Jewels, Jaypore, and Miniso contribute to the mall's vibrant retail landscape.

Headquartered in Mumbai, Apparel Group is a prominent UAE-based fashion and lifestyle conglomerate. The group showcases a portfolio of renowned brands including Charles & Keith, Aldo, Skechers, Inglot Cosmetics, and Tommy Hilfiger in the Indian market. With a vast network spanning over 2,025 retail outlets across 80 brands, the conglomerate boasts a global workforce exceeding 20,000 individuals.

Apparel 01-03-2024

Apparel Group opens shop-in-shop for Beverly Hills Polo Club

Apparel Group extends partnership with Janhvi Kapoor and Aditya Roy Kapur

A prominent fashion retail business, Apparel Group India has extended its partnership with Bollywood stars Janhvi Kapoor and Aditya Roy Kapur. The collaboration aims to bolster the presence of the renowned footwear brand, Aldo, in the Indian market and showcase its Spring 2024 collection.

Tushar Ved, President, states, aligning perfectly with the group’s objectives, this collaboration significantly expands its reach and reinforces Aldo's position as a trusted brand in the Indian market.

Operator of over 70 stores across India, Aldo seeks to leverage the influence of Kapoor and Kapur to position itself as a premium brand associated with glamour, aspiration, and trustworthiness.

Abhishek Bajpai, CEO, Apparel Group India affirms, the group’s partnership with Kapoor and Kapur underscores its commitment to offer authentic and stylish products at Aldo India. Their vibrant energy and distinctive style enhance the brand's credibility and resonate strongly with our consumers."

Through this partnership, Apparel Group India aims to further solidify Aldo's position as a desirable brand in the Indian market and continue delivering quality products that resonate with consumers' preferences and aspirations.

Apparel 13-03-2024

Apparel Group extends partnership with Janhvi Kapoor and Aditya Roy Kapur

The booming world of women's apparel, a market driven by trends and transformation

05 March 2024, Mumbai

The global women's apparel market is projected to at a Compound Annual Growth Rate (CAGR) of 4 per cent from 2023 to 2033. This translates to a significant increase in market value, rising from an estimated $863 billion in 2023 to a projected $1,280 billion by the end of 2033, according to a market research report by Fact.MR [1].
This growth reflects the dynamic and ever-evolving nature of the women's apparel industry, constantly adapting to changing consumer preferences, evolving fashion trends, and various socio-economic factors. Experts too acknowledge the positive outlook for the women's apparel market. As Barbara Larson, a fashion industry analyst says: "The increasing focus on self-expression and individuality is driving the demand for a wider variety of clothing options. Brands that can cater to these diverse needs and preferences will be well-positioned to succeed in the market."
Growth Boosters: Rising income, shifting fashion trends
Rising disposable income: As economies around the world continue to develop, women are increasingly acquiring greater purchasing power, leading to increased spending on clothing and personal appearance.
Growing female workforce participation: The global female workforce is expanding, and women are seeking professional attire that reflects their confidence and authority.
Shifting fashion trends: The rise of fast fashion, coupled with greater access to diverse styles through e-commerce platforms, allows women to experiment with fashion trends more readily, contributing to increased demand. Women are becoming increasingly conscious of their personal style and expressing themselves through diverse and unique clothing choices. This demand for variety and personalization is driving the growth of the women's apparel market.
Growing awareness of body positivity: The growing body positivity movement is fostering a wider range of clothing options catering to diverse body shapes and sizes, further expanding the market reach.
India, a key player
India plays a significant role in the global women's apparel market, boasting the sixth-largest market position in 2020 and witnessing domestic sales exceeding Rs 1 billion in 2021. As per Mordor Intelligence the Indian women's apparel market is estimated at Rs 1.4 trillion ($18.3 billion) in 2023 and is expected to reach Rs 2.3 trillion ($30 billion) by 2028, at a CAGR of 10.2 per cent.
This growth is driven by factors like rising disposable incomes. As India's economy flourishes, women have more purchasing power, allowing them to invest in diverse apparel choices. Growing urban population has lead to a higher demand for trendy and fashionable clothing. Moreover Indian women are becoming increasingly fashion-conscious and are seeking clothing that reflects their unique style and personality. Indian women's clothing choices are also influenced by a blend of traditional and modern styles, with a strong emphasis on comfort, affordability, and cultural significance. The rise of e-commerce platforms like Myntra, Nykaa Fashion, and Ajio has significantly transformed the way Indian women shop for apparel, offering convenience, wider selection, and competitive prices.
Growth impediments and way forward
While the future is bright, the women's apparel market also faces challenges. Intense competition is one of them. The market is saturated with established brands and emerging players, leading to fierce competition for market share. With consumers increasingly concerned about the ethical and environmental impact of the clothing they purchase, this puts pressure on brands to adopt sustainable practices. Global economic uncertainties also impact consumer spending power, posing a potential threat to market growth.
Despite these challenges, the women's apparel market also presents exciting opportunities as the Fact.MR study outlines. Technological advancements in areas like artificial intelligence and virtual reality can enhance the shopping experience and personalize product recommendations.
Catering to individual needs and preferences through personalized product offerings and customization options can create a competitive edge for brands. What’s more embracing sustainable practices and ethical sourcing can resonate with environmentally conscious consumers and build brand loyalty. Also, online shopping platforms like Myntra and Flipkart are revolutionizing the market, offering wider product selections and convenience for consumers.
To sum up, the global women's apparel market is a dynamic and ever-evolving space. By understanding the key trends, challenges, and future prospects, brands can adapt their strategies, embrace innovation, and cater to the evolving needs of fashion-conscious consumers around the world.

Apparel 05-03-2024

Adidas sets new benchmark with a ‘Home Of Sport’ concept store in Mumbai

Setting a new benchmark in retail innovation, renowned athletic apparel and footwear brand, Adidas introduced its innovative Home Of Sport concept store on the Linking Road in Mumbai.

Spanning 6,307 sq ft across four floors, the stand-alone store embodies the essence of Mumbai's vibrant culture and energy. Its design integrates the elements of the city's rich cultural tapestry by featuring handcrafted carpets inspired by Paithani art and visuals paying homage to India's beloved sport, cricket.

The Home Of Sport store introduces the concept of a 'run lab,' a pioneering initiative in India aimed at assisting consumers in discovering their perfect pair of running shoes.

Furthermore, the store features a 'made for you' zone, inviting customers to engage in co-creation experiences with local artists and the store team, fostering a sense of personalisation and community.

Dedicated to catering to the diverse needs of its clientele, the store boasts an exclusive women's category, underscoring Adidas's commitment to inclusivity and diversity. Moreover, patrons can explore the Adidas Originals shop-in-shop, dedicated to offering lifestyle, fashion, and heritage products. Notably, the store also hosts the first Y-3 shop-in-shop in Mumbai, further enriching the retail landscape with its avant-garde offerings.

Adidas first entered into India through license agreement with the footwear brand Bata in 1989. Subsequently, in 1996, the brand re-entered India via a joint venture with Magnum International Trading Company. Over the years, it has continued to expand its presence, culminating in the approval from the Indian Government in 2016 to establish 100 per cent foreign-owned stores in the country.

This latest endeavor follows the unveiling of Adidas's flagship store in India, located at Connaught Place, Delhi, in 2021. Founded in 1949 by Adolf Dassler, Adidas has cemented its status as a global leader in athleisure and sports apparel, with Adidas Originals embodying its dedication to innovation, style, and heritage.

Apparel 01-03-2024

Adidas sets new benchmark with a ‘Home Of Sport’ concept store in Mumbai

Madame launches new scent with campaign starring Shanaya Kapoor

Expanding its fragrance offering in India, Jain Amar Clothing’s womenswear brand Madame has launched a new scent ‘Chaleur’ with a campaign starring brand ambassador and Bollywood celebrity Shanaya Kapoor.

More than just a fragrance, Chaleur is a journey that transcends boundaries, inviting wearers to experience a blend of cultures and fragrances that culminate in a truly unique olfactory experience, says Akhil Jain, Executive Director, Jain Amar Clothing.

Inspired by the historic French town of Grasse, the scent contains the zest of orange, saffron, and clary sage with a centre of jasmine and essence of cherry almond. Chaleur is Madame’s second fragrance launch to date following its maiden scent ‘Lueur’. The launch shows the business’ focus on the premium segment of the market and its campaign with Kapoor is designed to evoke ideas of French glamour mixed with Indian opulence.

Launched as a western wear brand in 1993, Madame opened its first India store 2002. Today, the brand has over 500 retail outlets across the country. Focusing on Tier I and II cities for expansion, the brand aims to grow its business by 33.3 per cent in coming financial year.

Apparel 08-03-2024

Madame launches new scent with campaign starring Shanaya Kapoor

Chkokko registers surge in monthly revenue in December 2023

An Indian direct-to-consumer (D2C) athleisure brand, Chkokko has rapidly ascended to prominence in the market, boasting a monthly revenue surge to 7.2 crore in December 2023.

Additionally, the brand celebrated its 3,500,000th customer milestone and amassed a loyal following of 100,000 on Indatagra.

Founded by the Sabharwal family in 2018, Chkokko has distinguished itself by prioritising inclusivity, affordability, and quality. These core values have not only carved a niche for the brand but have also set new benchmarks within the industry.

By focusing on offering high-quality activewear at affordable prices, Chkokko has made fitness and fashion accessible to a diverse clientele. Chkokko's success can be attributed to its commitment to innovation and expansion. The brand's dedication to in-house design and development has resulted in a versatile product portfolio, ranging from exercise shorts suitable for casual wear to comfortable travel and loungewear combinations. With sizes available up to 5XL, Chkokko ensures that its products cater to customers of all shapes and sizes.

Utilising premium materials such as dry-fit cotton and lycra, Chkokko prioritises both style and functionality in its offerings, encouraging an active lifestyle among its customer base. As the brand continues to grow, it remains steadfast in its mission to empower individuals to explore their personal style while embracing an active lifestyle.

Apparel 02-03-2024

Spykar outlines expansion plans for FY’25

Denim and apparel brand Spykar has outlined ambitious expansion plans for FY’25, set to commence in April. The company aims to inaugurate 40 new brick-and-mortar stores with a strategic focus on franchise launches across India.

The brand intends to strategically locate these stores across the nation to maximise the brand’s reach and accessibility to customers, says Sanjay Vakharia, CEO.

These announcements were made on the sidelines of a panel discussion organised by the Clothing Manufacturer’s Association of India at Bharat Tex 2024.

Previously, Spykar had disclosed its intentions to strengthen its presence in Tier II and III cities, responding to the escalating demand for branded apparel in non-metro areas. The brand adopts an omni-channel retail strategy, supplementing its brick-and-mortar stores with a direct-to-customer e-commerce platform.

According to its website, Spykar boasts over 2,250 points of sale, inclusive of more than 300 exclusive brand outlets. Since its inception in 1992, Spykar has been a part of the Metdist Group, a business entity promoted by the Bagri family since 2014.

Apparel 29-02-2024

Spykar outlines expansion plans for FY’25

TechnoSport eyes 10% share in activewear over the next five years

Bengaluru-based apparel manufacturer TechnoSport aims to seize a significant 10 per cent share of the burgeoning activewear market in India over the next five years, while simultaneously striving to achieve a revenue milestone of Rs 1,000 crore within the same period.

In a recent press release, TechnoSport disclosed, the company has achieved an impressive average annual growth rate ranging between 30 per cent and 40 per cent over the past three years. Notably, the company successfully retailed 12 million individual garments in the fiscal 2023, with projections soaring to 15 million garments by FY24 –end.

The inauguration of an ultramodern activewear manufacturing facility in Erode, Tamil Nadu, marks a significant stride in TechnoSport's expansion agenda. With aspirations to establish one of the largest manufacturing units in South Asia, the facility is poised to operate as a beacon of environmental sustainability and innovation, emphasising research and development initiatives.

TechnoSport has also inked an MoU with the Tamil Nadu Government to foster job creation and economic prosperity in the region. The company's investment of Rs 150 crore into the Erode facility is anticipated to generate 5,000 employment opportunities within the state over the next five years.

Venturing into the realm of e-commerce last year, TechnoSport is committed to leveraging digital platforms for continued expansion. The company eyes growth prospects in key international markets such as South Africa, Singapore, and the Middle East. In anticipation of its revenue targets, it is gearing up to unveil exclusive brand outlets and franchise operations, to further augment its market presence and profitability.

Apparel 06-03-2024

Puma India teams up with influential women for WPL campaign

Puma India has joined forces with a diverse group of influential women including actor Kareena Kapoor Khan, Vineeta Singh, Co-founder, Sugar Cosmetics, boxing champion MC Mary Kom, fashion designer Masaba Gupta, and news anchor Faye D’Souza for their Women’s Premier League (WPL) campaign.

The collaboration aims to elevate the profile of women's cricket in India, with plans to release a digital film featuring these five prominent figures to expand the female fan base for the sport.

Karthik Balagopalan, Managing Director, Puma India, expressed the brand's commitment to break gender biases and support women's sports. He believes, the collaboration will help reshape the narrative, enhance fan engagement, and inspire future generations of female athletes.

Kareena Kapoor Khan emphasised the untapped potential of female athletes in India and commended Puma's initiative in promoting women's cricket. The campaign is a significant step towards giving female athletes the recognition they deserve, she said.

As part of the campaign, the five women will attend a Women’s Premier League (WPL) match between Delhi Capitals and Royal Challengers Bangalore in New Delhi on March 10, further showcasing their support for women's cricket.

Apparel 01-03-2024

Puma India teams up with influential women for WPL campaign

Altan, President IAF: War harms all, hoping for peace!

29 February 2024, Mumbai

Salil Chawla, DFU Publications Director Salil Chawla had the opportunity to interact at the Shahi Exports signing membership ceremony with the IAF at the Bharat Tex 2024 Expo with Cem Altan, President of the International Apparel Federation, also a manufacturer from Turkey.

Altan stated, introducing himself," I mainly work on jerseywear for the UK and US markets. And I also represent the Turkish Clothing Manufacturers Association and the Istanbul Apparel Exporters Association in Turkey.".

Q: Could you elucidate, throw some light on this MOU exactly?

Altan: Well, actually, this is not an MOU. This is a membership signature. Since I became president, I have tried to extend the existence of IF to big manufacturing groups. And in India, we already have association members like CMAI and, among others, the Apparel Exporters Association of India.

But we didn't have any corporate members. So we have been talking to Shahi Group because they are one of the biggest export companies from India. And they have also been following us closely for the last couple of years.

And we talked to them for the last three years, and finally they decided to join IF. And I'm very happy for that because we need strong voices for manufacturers to make themselves understood on the apparel platform.

As you know, we have a lot of people who are interested in apparel. So we had difficulties during the pandemic, and really, brands had failed, you know, compliance, compliance, financial compliance. A lot of companies didn't get paid, and a lot of cancellations happened.

And some of them changed their minds, and, you know, with the sport of social media. But we realized that there is really nothing to protect the suppliers and manufacturers against the brands. Because when brands want to work with you, they put in front of you a big contract that only covers their own interests. There is nothing for the manufacturers in that contract. So we prepared the white paper under the initiative of SDI, which is the Sustainable Terms of Trade Initiative.

We have been working on this with GIZ from Germany. They are supporting us with the members of IF. The STTI project is now accepted by the OECD and the European Parliament. Our project and our requirements from the grants have been accepted, and they are now being considered by the EU Parliament.

So hopefully there will be some regulations soon to protect manufacturers. Also, we have problems with audit fatigue. As you know, every company that works with you wants an audit. So we have an audit, a social audit, a physical audit, and an environmental audit.

But each company you work with asks for different audits, but all the same things. They look at the same things, so nothing is different. So if you work with ten companies, you need to have ten different audits, but they are all the same.

And this is also an expensive process for grants, and it is also more time-consuming. When they come to the factory for an audit, it takes a lot of attention.

The other important thing is as you know, there are a lot of new legislations in the EU and the United States, and we have to really comply with these legislations, especially the Green Deal for the European Union, which is very important.

The decarbonization and carbon zero programs in 2000, 2030, 2040, and 2050 are zero carbon programs. Yeah, and also, a lot of countries now applying EPR, Expensive Produce Responsibility, and Extended Produce Responsibility, which is very important and there are a lot of responsibilities on suppliers as well as brands to recollect and recycle their products

We have to fulfill all all these requirements and if you don't, a lot of beauties will be on top of the suppliers, so this is important and also have to invest on green factories You know that using renewable energies, we recycle the water, use less water, and use less energy. We also adjust our own production carbon emissions.

And there are a lot of things and a lot of challenges happening. And we have to really work hard to really improve our industry, make it greener, more productive, and more digitalized. And of course, traceability and transparency are very important because soon there will be a product passport, and consumers want to know where the fabric or fiber comes from and where garments are made.

So in this passport, consumers will see everything, and that's why transparency and traceability are very important. So our business is hard business. And I hope that these wars are over, as all the supply countries. are affected by them.

Also, another problem we have now is the logistical problem because of the Red Sea. A lot of ships going through the Red Sea channel have to go through South Africa now.

So that is also increasing the delivery times for the brands. So this way, they also realize how important it is to work with near hubs, closer hubs as well. Says IAF President," And this is where Turkey comes into big importance because Turkey is a safe haven for retailers, and now they have been away from Turkey for some time because of the prices.

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Apparel 29-02-2024