22 June 2022, Mumbai:

Asia’s leading omni-channel platform, Ace Turtle plans to open over 100 omnichannel-enabled stores of brands Lee and Wrangler by March 2023. The Bengaluru-based company has already hired senior leaders to drive the expansion.

As per Nitin Chhabra, Co-Founder and CEO, Ace Turtle, the company will launch new stores on the franchise model across Tier I, II and III cities. The stores will be located closer to customers’ locations.

The Licensed Brands vertical was launched by Ace Turtle in 2021 through acquisition of long-term licenses of iconic denim brands Lee & Wrangler from Kontoor Brands for India and a few South Asian markets.

The company is engaged in providing design, local sourcing and retailing services consumer brands in India. Within a short duration, the company has transformed both the brands’ businesses by leveraging its omnichannel technology platform.

Founded in 2014, Ace Turtle is the market leader in omnichannel technology space for enterprise brands in India. It is a frontrunner in New Age commerce having two business verticals: SaaS and Licensed Brands.

With its proprietary platform ‘Rubicon’, Ace Turtle integrates online and offline retail channels enhancing efficiency and scalability through omnichannel transformation by intelligent use of data.

24 June 2022, Mumbai:

Expanding its product range Vegan accessories brand Zouk has entered the footwear segment with the launch of an India-inspired cruelty-free footwear range.

The brand has also rebranded itself to strengthen its customer base and strike a chord with its target audience, as per a Fashion Network report

PradeepKrishnakumar, Co-founder, says, the initial brand identity was quickly put together to start off. But, we have now reached a stage where the brand and its customers deserved something better. Hence, we decided to go back to the drawing board.”

Founded by Disha Singh and PradeepKrishnakumar, Zouk retails a range of handbags, laptop bags, tote bags, and pouches claiming to have a customer base of over 2,00,000 in this segment. The brand works with local artisans across India.

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20 June 2022, Mumbai:

ChandaniAgarwal, Founder, Little Tags has been featured in The Corporate Review Magazine as the ‘Futuristic Woman Entrepreneur in 2022’ and won a ‘Digital Women Awards 2021’ by ShethePeople magazine. Little Tags was listed in Business Iconic magazine as one of ‘The 10 startups that caught our eye in 2022’ for its ingenious solutions.

An alumna of a premier business school in Delhi, Agarwal launched Little Tags in 2017. It is a unique marketplace for kids’ clothing, bringing branded, high-quality children’s brands together on one platform. With over 260 designer brands under its umbrella, Little Tags brings the best and latest trends of reputed designer labels in India like RohitBal, SamantChauhan, RaghavendraRathore, PayalSinghal, Nitya Bajaj, Pallavi Mohan, Shivan&Narresh, AnandBhushan, SiddharthTytler, Krishna Mehta, MonishaJaising, NishkaLulla and Pooja Wang.

The marketplace was awarded the title of ‘ India’s Most Admirable Brand 2020’ by Forbes India and its collection was shown at the ‘Ramp of Delhi Times Fashion Week 2021 & 2022’.

24 June 2022, Mumbai:

The consolidated revenues of textiles and fashion retailer Raymond Group have grown to Rs 6,438 crore in FY2021-22 from Rs 3,648 crore in FY2020-21.

The Gautam Singhania-led company’s earnings before interest, taxes, depreciation and amortization (EBITDA) increased 13.49 per cent to Rs 881 crore while total assets grew from Rs 6,740 crore in FY21 to Rs 7,377 crore in FY22.

The company made a net profit of Rs 260 crore during the year whereas its profit before taxes reached Rs 413 crore. Raymond’s net debt reached Rs 1,088 crore in FY22 during the same period. Raymond’s consumer business comprises of branded textile, apparel, and retail. Sales of branded textile division raked in sales worth Rs 2,789 crore; sales of apparel business reached Rs 891 crore. As of FY22, Raymond has 1,351 exclusive stores, 1,304 stores in over 600 cities and towns in India, and 47 stores in eight countries.

Raymond’s garmenting business sales reached Rs 725 crore mainly from the US, Europe, and Japan, and exports to over 20 countries.

Sales from its high-value cotton shirting business grew to Rs 572 crore. In order to tackle higher raw material prices, the company sources wool from Australia, South Africa, the US, and Paraguay, linen flex from Belgium and France, and cotton yarns domestically.

It manages price fluctuation risks through a combination of forward and spot bookings, inventory management, pre-emptive vendor development practices, and price hikes are undertaken.

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21 June 2022, Mumbai:

To showcase the versatility of khadi on International Yoga Day, designers at the Centre of Excellence for Khadi (CoEK) have launched a new wellness wear collection called Svada. As per Atharva veda, the word Svadha denotes ease, comfort or pleasure, that are the attributes of this collection. The ensembles boast of features like a bias yoke on the shoulder, a box pleat in centre back of top wear and low crotch, wrap around bottom wear for ease in stretching and extra comfort.

The collection was endorsed by Kiran Bedi, Social Activist, Ramon Magsaysay Award Winner, and Former Lieutenant Governor of Puducherry. It was chosen by Ripun Daman Bevli, Plogman of India, who appreciated the comfort of khadi as a fabric and silhouettes which provided ease in doing yoga or workout.

Set up by jointly by the KVIC and Ministry of MSME at NIFT, CoEK aims to help Khadi Institutions (KIs) to effectively design, produce and market khadi products in the Indian and global market.