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India's Arvind Fashions raises Rs. 439 crore

23rd August 2021, Mumbai:

Arvind Fashions Ltd. (AFL), India's biggest casual and denim maker, has collected Rs. 439 crore from a number of high-profile investors, including founders, by issuing equity shares. US Polo Assn., Arrow, Tommy Hilfiger, Calvin Klein, Flying Machine, Aeropostale, and Ed Hardy are among the foreign and indigenous brands represented by AFL.

This cash, according to Kulin Lalbhai, AFL's Non-Executive Director, will go a long way toward totally bolstering AFL's balance sheet and helping to mitigate any possible pandemic-related risks.

It completes the financial required for expansion and navigating any risks with this fundraising. In the short-to-medium term, the firm is unlikely to require more capital. Akash Bhanshali, existing shareholders such as ICICI Prudential Mutual Fund, different international institutional investors such as University of Notre Dame Du Lac, GP Emerging Markets Strategies LP, The Ram Fund LP, and other investors engaged in the fundraising. Aura Merchandise, a promoter company, also took part in the preferred offer for Rs. 40 crores.

 

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The acquisition is also subject to appropriate shareholder and SEBI clearances, according to the firm. AFL sold its ‘unlimited' store network to V-Mart Retail Ltd., a value fashion retailer, for an estimated Rs. 150 crores in an all-cash transaction last month. Shailesh Chaturvedi, CEO of Arvind Fashions, told the prominent English business newspaper Mint that several of his company's brands had surpassed pre-Covid August 2019 figures.

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India's Arvind Fashions raises Rs. 439 crore

Metro Brands, a footwear retailer, has filed IPO papers with the Securities and Exchange Board of India (Sebi)

21th August 2021, Mumbai:

Metro Brands Ltd, a footwear retailer, has filed initial documents with Sebi, the capital markets regulator, to acquire money through an initial public offering (IPO).

 

As per the draught red herring prospectus, the IPO would include a fresh issuance of equity shares worth Rs 250 crore and an offer-for-sale (OFS) of 21,900,100 equity shares by selling shareholders (DRHP).

 

A pre-IPO investment of up to Rs 10 crore would be considered by the firm. The size of the new issue will be lowered if this placement is finished.

 

The proceeds of the new issuance will be used to fund expenses for the company's new stores under the "Metro," "Mochi," "Walkway," and "Crocs" brands, as well as general business reasons. The Indian footwear store, funded by ace investor Rakesh Jhunjhunwala, is aimed at the economy, mid, and luxury sectors of the market. The firm established its first Metro store in Mumbai way back in 1955 and has since developed into a one-stop-shop for all footwear requirements, selling a broad selection of branded items for men, women, unisex, and children, as well as for any occasion including casual and formal occasions. 

 

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As of March 20, 2021, the firm had 586 shops in 134 cities throughout 29 Indian states and union territories. Merchant bankers Axis Capital, Ambit, DAM Capital Advisors, Equirus Capital, ICICI Securities, and Motilal Oswal Investment Advisors have been mandated to assist the business on its initial public offering.

Securities and Exchange Board of India (SEBI) - Working, History, Functions  and Powers

 

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Metro Brands, a footwear retailer, has filed IPO papers with the Securities and Exchange Board of India (Sebi)

The ‘ABOF' of Indian clothing behemoth Aditya Birla Fashion and Retail is linked to e-commerce platforms

21th August 2021, Mumbai:

ABOF (all about fashion), a fashion brand owned by Aditya Birla Fashion and Retail Limited (ABFRL), is now available for purchase through third-party vendors on e-commerce platforms like Flipkart and Myntra. ABOF caters to young people aged 18 to 25, with 600+ styles and the greatest in-house fashionable clothing.

Every month, ABOF releases two new collections, making it a go-to online destination for best-in-fashion buying and trend spotting. ABOF offers a comprehensive range of apparel for both men and women, with over 600 stylish goods and styles. The brand intends to extend its range in the areas of children's clothing and accessories.

By using Flipkart and Myntra's extensive networks, the firm hopes to expand its reach across India, allowing customers to access a wide selection of the brand's worldwide trends-inspired collections. “At ABOF, we strive to deliver high-fashion products to the young and make them available to them from the comfort of their homes or portable devices with a wonderful shopping experience,” said Manish Singhai, Chief Operating Officer, ABOF, Aditya Birla Fashion, and Retail Limited. This partnership with the Flipkart Group has the potential to boost India's clothing sector and change the youth fashion and athleisure market. The partnership will expand ABOF, Flipkart, and Myntra's reach by providing the latest trends in a variety of categories for men and women at affordable prices.” 

 

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“We are pleased to strengthen our partnership with ABFRL for the introduction of ‘ABOF,' which meets the rising need for affordable high-fashion streetwear,” said Nishit Garg, Vice President, Flipkart Fashion. As we aim to serve a wide variety of customer demands in fashion, this launch elevates our current strategic collaboration. Consumers will be able to access the newest ‘runway' trends on a regular basis with the introduction of ABOF, with new designs accessible every month.” “The ABFRL Group has been an enabling partner in Myntra's journey of generating value for our consumers, and the introduction of ABOF on our platform today is a major milestone,” said Ayyappan Rajagopal, Chief Business Officer, Myntra.

 

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Aditya Birla Fashion and Retail - Wikipedia

 

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The ‘ABOF' of Indian clothing behemoth Aditya Birla Fashion and Retail is linked to e-commerce platforms

Nykaa (India) is planning an initial public offering (IPO) with a valuation of $4.5 billion

18th August 2021, Mumbai:

Nykaa, an India-based multi-brand cosmetics and fashion store, will conduct an initial public offering (IPO) later this fiscal year with a valuation of US $ 4.5 billion, a significant increase from its previous valuation of over US $ 3 billion.

A jump in sales and profit, owing to a large increase in people buying online during the COVID-19 epidemic, has boosted the retailer's total worth.

Nykaa, India's top player in the market, has submitted a regulatory filing with the SEBI, indicating that it wants to sell up to 43 million shares for 5.25 billion rupees (about $70.8 million).

Nykaa, India's largest omnichannel marketplace for women, was founded in 2012 and has around 15 million registered members. A total of 1.5 million orders are processed each month by the cosmetic shop. Since its start, Nykaa has expanded its offerings to include men's, luxury, and private label beauty verticals, as well as fashion, jewelry, and home décor items.

Nykaa is one of the rare start-ups to file for an IPO after reporting a profit, and its registration with the SEBI is being hailed as a watershed moment for Indian markets. Nykaa is also one of the few Indian firms managed by a woman, Falguni Nayar, a banker-turned-entrepreneur and the company's Founder and Chief Executive Officer.

Despite the epidemic, Nykaa's approach is viewed as opportune by industry observers in a market dominated by global companies — US e-commerce giants Amazon and Walmart-owned Flipkart, as well as Sephora in brick-and-mortar.

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Nykaa (India) is planning an initial public offering (IPO) with a valuation of $4.5 billion

Sabyasachi, an Indian designer, has apologized for the reaction he has received as a result of his partnership with H&M

17th August 2021, Mumbai:
 

Following controversy over a partnership with fast-fashion retailer H&M, well-known fashion designer Sabyasachi Mukherjee has apologized. His collection was recently offered in collaboration with H&M, a renowned apparel shop.

The collection was called ‘Wanderlust,' and it included floral patterns and mint colors on texture-rich apparel to honor and represent Indian roots. Because the website failed shortly after the garment line was introduced, and most of the goods were sold out, the designer was mocked on social media and received criticism.

“I was ecstatic when H&M approached me with the notion of collaborating, even if it was only for this one time because it meant I could finally reach out to the huge Sabyasachi clan around the world. For me, the entire purpose of our cooperation was dream fulfillment.

That's why I created a wide selection so that everyone might find something they like. Keeping this in mind, we were able to create in large quantities. “I was extremely clear and emphatic that there would be no VIP previews and no exclusions - everyone would have democratic access to the collection,” he said on Instagram.

“It's one of those things that you just can't predict, even if you have the finest forecasting, data team, supply chain, and logistics. I understand that many people are dissatisfied, and I apologize profusely. I'm certain that I'll be able to develop a future business model that meets this need,” he added.

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Sabyasachi, an Indian designer, has apologized for the reaction he has received as a result of his partnership with H&M

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