TT Brand’s innerwear and outerwear collections received an enthusiastic response from dealers and wholesalers across the NCR region at a dealer meet held on Sunday, 13th April 2025, at Grand Imperia Banquet.

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The event saw participation from around 300 wholesalers and distributors who praised the brand’s offerings and encouraged further expansion in sales and distribution.

The gathering began with a warm welcome from Joint Managing Directors Muskaan Jain and Jyoti Jain.

Sanjay K Jain, Managing Director of TT Limited, addressed the gathering, assuring full support and collaboration with dealers.

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Founder Chairman Rikhab Chand Jain highlighted TT’s strong market presence and commitment to value-for-money products available across Delhi-NCR.

Executive Director Hardik Jain expressed gratitude for the continued support from dealers and emphasized the importance of timely payments and trust in building long-term partnerships.

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The company also extended appreciation to the Hosiery Dealers Association and key members of the Wholesale Hosiery Association (WHA) for their presence, reaffirming TT Brand’s dedication to growing together with its dealer network.

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Fast-fashion giant Shein is renegotiating its global sourcing partnership with India's Reliance Retail and might significantly scale back the deal.

This shift reportedly follows pressure from Beijing, discouraging Chinese companies from moving production overseas amid ongoing trade disputes, particularly concerning US tariffs.

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Tariffs imposed during a previous US administration sparked concerns in China that manufacturers would relocate to avoid duties, potentially favoring countries like India.

While companies like Apple have moved some production to India, major Chinese brands have largely kept manufacturing within China, even while producing locally for the Indian domestic market.

Although Shein is headquartered in Singapore, most of its manufacturing remains in China.

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Sources indicate Shein was eager to reduce this reliance and significantly increase sourcing from India.Shein re-entered the Indian market in February 2025 through a standalone app developed and managed by Reliance Retail Ventures.

This occurred nearly five years after a ban during heightened India-China border tensions. Aiming beyond retail, their partnership planned on creating an export platform for Indian small and medium-sized businesses (SMBs) involved inb apparel and textiles.

Shein had committed technology and expertise to integrate around 25,000 SMBs, establishing a parallel global supply chain based in India – a plan now facing uncertainty.

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India’s government previously confirmed the platform would be domestic, hosted on infrastructure that Shein could not access, nor would it have rights to the data. Shein and Reliance are reportedly trying to find solutions regarding the latest directive from Chinese authorities.

Despite these hurdles, Shein's 2024 global sales increased by 19 per cent to $38 billion, though net profit declined by nearlry 40 per cent to $1 billion, according to international news reports.

The potential scale-back contrasts with India's booming fast fashion market, which expanded by 30-40 per cent in FY2024 despite slow overall consumer spending and is projected to hit $50 billion in sales by 2030-31.

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Indian cricket superstar Virat Kohli has terminated his Rs 110 crore (approximately $13.2 million) deal with Puma in order to invest in Agilitas, a homegrown Indian sportswear startup.

Founded in 2023 by Abhishek Ganguly, Former Managing Director, Puma India and Southeast Asia, Agilitas was launched with an aim to build a global sportswear brand from India. A long-term ally of Kohi, Ganguly originally signed the cricketer for the German sportswear giant in 2017.

Kohli’s personal brand One8 will now be integrated and expanded under the Agilitas umbrella. Agilitas will lead the brand’s retail expansion across India and on a global scale.

Kohli’s departure is more than just a business decision. Kohli ended his endorsement with PepsiCo in 2017 on concerns of promoting sugary drinks. His move to invest in Agilitas aligns with a similar pattern of purpose-driven decision-making.

Agilitas has already secured over Rs 530 crore (approximately $63.6 million) in funding from investors such as Convergent Finance and Nexus Venture Partners. The startup owns the 40-year licensing rights for India, Australia, and South Africa for the Italian sports brand Lotto and has also acquired Mochiko Shoes, a sports footwear manufacturer.

Department store chain Shoppers Stop has forayed into the Faridabad market with its debut physical store opening in the city's Pacific Mall. 

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The store aims to strengthen Shoppers Stop's retail presence in the National Capital Region.

According to the brand, Faridabad is an ideal destination for its new store because it is one of Delhi-NCR’s key cities and home to a vibrant mix of traditional heritage and modern infrastructure.

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The multi-brand store offers a wide range of clothing and accessories for men, women, and children for the Spring/Summer 2025 season. It also features a dedicated beauty section with products from both Indian and international brands.

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A subsidiary of K Raheja Corp, Shoppers Stop was established in 2003.

The company is listed on both the National Stock Exchange and the Bombay Stock Exchange and operates in approximately 45 cities across India.

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In a challenging economic environment marked by global trade tensions and domestic uncertainties, V-Mart Retail has emerged as a resilient player in India’s value retail sector. Despite initial setbacks worsened by the pandemic, the company has navigated through acquisitions, financial challenges, and operational adjustments to position itself for sustainable growth and profits.

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Retail expansion and operational strategies

V-Mart Retail, known for its extensive network of nearly 500 stores across India encompassing 4 million sq. ft, specializes in value apparel targeting mass consumers. The company’s resilience amidst economic disruptions underscores its robust operational strategies. Despite the pandemic-induced slowdown, V-Mart persisted with its expansion plans, albeit cautiously, focusing on enhancing store efficiency and geographic footprint.

The acquisition of Unlimited from Arvind Fashions in 2021 marked an important move towards strengthening its presence in South India.

The acquisition, valued at Rs 150 crore, included 74 stores integrated into V-Mart’s operational framework. By rebranding and optimizing these stores primarily located in Tier-I cities, V-Mart successfully aligned Unlimited’s operations with its value-focused retail model. This alignment has yielded promising results, with Unlimited reporting a 10 per cent same-store sales growth (SSSG) in Q4 FY25, outperforming V-Mart’s 7 per cent SSSG during the same period.

Digital expansion and turnaround efforts

In a bid to boost its digital footprint and tap into evolving consumer trends, V-Mart acquired Limeroad in FY23. This acquisition aimed to synergize digital capabilities with its physical retail strength. Despite initial challenges, including EBITDA losses, V-Mart’s concerted efforts in optimizing Limeroad’s operations have shown promising signs. By reducing advertising expenses and enhancing integration with V-Mart’s sales channels, Limeroad’s EBITDA losses halved to Rs 6.5 crore in Q3 FY25, showcasing a significant turnaround path.

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Financial performance and debt management

V-Mart’s financial journey has been characterized by strategic investments and prudent financial management amidst rising debt levels. Over three years, the company invested approximately Rs 900 crore in CAPEX for acquisitions and store expansions, significantly impacting its debt profile. Despite this, V-Mart has demonstrated resilience in improving operating profits and managing working capital efficiencies.

Table: V-Mart’s performance and growth

The company’s shift towards profitable growth strategies, including store consolidation and inventory optimization, has contributed to reducing inventory days from 129 in FY23 to 92 as of December 2024. This operational efficiency has increased working capital pressures, reflecting V-Mart’s commitment to sustainable financial health.

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Future outlook

Looking ahead, V-Mart Retail remains optimistic about its growth prospects, driven by the recovery in rural demand, supported by favorable monsoons and government stimuli.

The company plans to add 60-65 new stores in FY26, increasing its footprint and capturing emerging market opportunities. With a focus on increasing store productivity, category expansion, and digital integration, V-Mart aims to sustain its growth momentum and strengthen its market position.

Thus, V-Mart Retail’s journey from adversity to resurgence exemplifies its resilience and adaptability in India’s competitive retail market. Through targeted acquisitions, operational efficiencies, and prudent financial management, V-Mart has navigated challenges and positioned itself for sustained growth.

As the company continues to innovate and expand, its commitment to value retailing and customer-centric strategies sets a promising trajectory for the future.

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The demand for women's clothing in India decreased by 6.68 per cent in the FY 2025,  as per a report by the digital marketing agency Techmagnate.  

However, despite this downturn, branded online retailers have maintained their lead, with the top five—Meesho, Myntra, Flipkart, Amazon, and Ajio—capturing over 97 per cent of the total branded search interest.

Notably, while Meesho experienced a 32.14 per cent drop in search interest, it still became the most downloaded app, showing a 16.44 per cent increase in downloads, surpassing Flipkart, Shopsy, Amazon, and Myntra.

This trend suggests a growing preference for shopping via mobile devices, as consumers increasingly favor the convenience and user-friendly features of fashion apps.

Zara leads the women's wear market with an average monthly search interest of 279,000, although its declining search interest indicates potential difficulties in maintaining its top position in search engine results.

H&M, Biba, Libas, and Puma are the next four in the top five list.

In the ethnic wear category, 'Chikankari kurti for women' has gained significant popularity, showing a remarkable 809.39 per cent increase and reaching an average monthly search interest of 823,000.

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Furthermore, ethnic wear as a whole dominates the market with an average monthly search interest of 1,659,900.

Geographically, Delhi, Bengaluru, and Mumbai continue to be the dominant regions, accounting for nearly 68 percent of the total online search interest, while Chennai is the only city showing positive growth at +0.92 per cent, increasing its market share to 11.30 per cent.

The women's fashion market in India is undergoing a dynamic transformation, states Sarvesh Bagla, Founder and CEO, Techmagnate.

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"The trends and the industry are evolving rapidly, driven by shifting consumer preferences, technological advancements, and the increasing influence of social media and global trends.

Today's consumers research women's wear, assess their choices, and make their purchases online; therefore, a comprehensive understanding of search behavior is crucial for developing a more effective digital marketing strategy, he adds.

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