The Tata Group is negotiating with stakeholders to buy either a stake or the entire business of Fabindia.

The acquisition deal is worth less than the $2.5 billion pegged by the clothing company’s aborted initial public offering. If successful, the deal could be the largest in the segment, after Aditya Birla Fashion Retail’s acquisition of a controlling stake in TCNS Clothing last year.

The acquisition of Fabindia will boost the ethnic wear portfolio of the Tata Group. in the ethnic wear space. Also, Fabindia’s ethos resonates with that of the Tata Group as it makes its products from traditional techniques, and hand-woven fabrics that are sustainably sourced.

In January, Fabindia agreed to sell subsidiary Organic India to Tata Consumer Products at an enterprise value of Rs 1,900 crore. This was part of its restructuring exercise after it abandoned its Rs 4,000-crore IPO last year, citing uncertain market conditions.

A seller of premium ethnic apparel, Fabindia has been making losses over the last three years. Although the brand’s revenues increased by 21 per cent to Rs 1,688 crore in FY23, expenses rose to Rs 1,730 crore, shows data from Tracxn. The brand ended FY23 with negative cash balances, according to the cash flow statement data.

After drawing its IPO plan, Fabindia made some changes in the brand’s management. It promoted William Nanda Bissell, with a 15 per cent stake in the company, to the position of Managing Director from his earlier post of Executive Vice-Chairman and Director. Viney Singh, previous Managing Director became a non-executive director on completing his tenure as the Managing D, became a non-executive director.

Fabindia has over 300 stores and apart from apparel also sells furnishings, furniture and lifestyle accessories. 

As a part of its World Earth Day celebrations, India’s leading premium women’s wear brand Latin Quarters has launched its maiden sustainable capsule collection ‘Revive.’

Crafted from recycled materials, the Revive collection includes dresses, tops, trousers, and more. Priced in the range of Rs 1,799 ($20), the collection is available for purchase online and at select Latin Quarters stores.

Rahul Bhalla, CEO and Co-founder, Latin Quarters, says, the collection strengthens the brand’s mission to make conscious choices on behalf of its patrons, whilst supporting the larger efforts to being more environmentally friendly.”

Since the last decade and a half, Latin Quarters has been curating fashion for customers across India, adds Bhalla. The brand continues to evolve with time and inspire customers to make the right choices.

Founded in 2006, Latin Quarters currently has 21 exclusive brand retail outlets and is available on major online portals across the country like Myntra, Nykaa Fashion and Amazon.

Prreeti Jaiin Nainutia, Designer, Nirmooha, unveiled her latest collection, 'Ekatra,' at the prestigious platform of Lakmé Fashion Week x Fashion Design Council of India.

Showcased as a blend of pensive abstraction and versatile design, the collection offers a captivating fusion of men's and women's wear, adorned with botanical imagery and crafted from floaty textiles.

Nainutia incorporates intriguing prints featuring a plethora of leaves and asymmetric patterns in the collection. The color palette comprises shades of grey, peach, and rust, accentuating the intricate 3D embroidery, which has become synonymous with the Nirmooha brand. The use of delicate textiles such as glass organza, georgette, chiffon, lurex fabric, and linen imparts a sense of lightness and airiness to the garments, further enhancing their allure.

Expressing gratitude to the Lakmé Fashion Week x FDCI team, Nainutia acknowledged their unwavering support throughout the entire showcase process. From the initial show allotment to the meticulous fittings and seamless execution backstage, the collaborative effort ensured a smooth and successful presentation of the collection.

Held at the Jio World Convention Centre in Mumbai from March 13 to 17, the esteemed fashion event featured an array of runway shows, panel discussions, and design awards. Supported by Reliance Industries, the event showcased renowned brands such as Rahul Mishra, Essé, and Itrh, among others, marking another memorable chapter in the vibrant tapestry of Indian fashion.

Embarking on an ambitious growth trajectory under the leadership of Debdeep Sinha, Chief Business Officer-Apparel, apparel maker Raymond plans to add 50 to 80 stores per brand annually over the next few years.

Besides, the company also plans to introduce innovative features like auto-checkout and digitised easel stands in all its EBOs. Additionally, it will use LCD screens on the storefront to showcase in-house merchandise and enhance visual merchandising efforts. While the company’s current average store size ranges from 1,400 to 1,500 sq. ft, it aims to open larger stores exceeding 2,000 sq. ft. in major markets to accommodate their growing product offerings.

As Raymond celebrates its centenary year, the company boasts a rich portfolio of legacy brands including Park Avenue, Raymond Apparel, Color Plus, and Parx. Renowned for its formal wear, Park Avenue is positioned as a versatile wardrobe brand offering both formal and casual attire. Color Plus caters to the premium casual wear segment, while Parx occupies the mid-premium casual wear market. Together, these brands cover the spectrum of mid-premium to premium offerings in both formal and casual wear categories.

Raymond Ready to Wear serves as the ready-to-wear counterpart to Raymond's fabric business, showcasing innovative collections such as Air Light—a feather-like collection of suit jackets designed for comfort during long wear. Their formal tech-smart products, like the stainless collection, boast stain-resistant properties, ensuring durability and easy maintenance.

Among their latest offerings are collections like the Fearless Collection and the Techno Smart Collection, featuring four-way stretch fabrics for unprecedented comfort and flexibility. These products blur the lines between formal and casual attire, allowing wearers to seamlessly transition between work and leisure activities without sacrificing style or comfort.

With a focus on innovation, quality, and customer comfort, Raymond is poised to continue its legacy of excellence in the apparel industry as it enters its second century of operation.

Ethnicwear retailer Sai Silks Kalamandir reported 11 per cent rise in revenues to Rs 360 crore during the fourth quarter ending March 2024 compared to the same period in the previous fiscal year.

The company’s revenues for the entire financial year 2024 also increased to Rs 1,374 crore, compared to the previous year.

During the fourth quarter of this fiscal year, the company's store sales grew by approximately 6 per cent compared to the corresponding period last year. Sai Silks Kalamandir also inaugurated six new stores spanning 43,896 sq ft in the Varamahalakshmi format during the year.

Currently, Sai Silks has 60 stores across India spanning key markets including Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu.

Tailored exclusively for the burgeoning youth market in the country, Max Urban, the latest venture by Max Fashion, has launched its inaugural collection.

Titled, ‘Love Labels, the collection redefines the traditional size norms by embracing a more empowering approach. The brand reimagines traditional sizes as affirmations of self-love and body positivity. It celebrates diversity in body shapes and sizes through a captivating campaign film that promises to provide clothes that not only fit perfectly but also uplift and empower customers.

Using a language that not only empowers individuals but also makes them feel confident in their own skin, the 'Love Labels' campaign revolutionises the way sizes are perceived, says Sumit Chandna, President & Deputy CEO, Max Urban.

Drawing inspiration from casual, vacation prints and serene patterns, this inaugural collection by Max Urban offers a refreshing range of styles. The collection is available at over 500 brand stores Max Fashion’s newly launched e-commerce platform. It will also be showcased in over 50 selected stores across major cities in India. With prices starting at just Rs 199, the collection offers international fashion at competitive prices.

Committed to expand the reach of Love Labels, Max Urban plans to increase the number of stores throughout the year.

Renowned menswear brand, Snitch has unveiled its latest formal wear collection offering a sophisticated range of premium tailored men’s suits. Featuring five distinct variants including the ‘Travel Collection, ‘Linen Collection, ‘Occasion/Festive Collection’, and ‘Standard Collection’, this collections expands the brand’s offerings significantly.

Siddharth Dungarwal, Founder, Snitch, says, embodying the epitome of craftsmanship and elegance, the collection offers meticulously tailored suits made from the finest fabrics and using impeccable tailoring techniques.

Designed to cater to a variety of occasions ranging from board meetings to formal gatherings and holidays, the new collection promises to elevate the wearer's style quotient. Available in a palette of sophisticated hues such as grey, dark navy, and black, etc, these suits have debuted on Snitch’s direct-to-customer e-commerce platform.

Originally established in 2020 as men’s apparel brand focusing on direct-to-customer sales, Snitch later expanded into brick-and-mortar retail. The brand Snitch recently secured Rs 110 crore in a series A funding round, building upon its initial investment garnered through the acclaimed entrepreneurial television show, ‘Shark Tank India Season 2.’