Manufacturer of premier sustainable clothes in India, NoName plans to participate in Europe’s top responsible sourcing show, Source Fashion, to be held from July 14-16, 2024, at Olympia London.

Revolutionising fashion sourcing, NoName is renowned for its unwavering commitment to sustainability and ethical production. They offer innovative solutions to small and midsize fashion brands, addressing a crucial industry challenge: the demand for flexible minimum order quantities (MOQs). Through their extensive network of small and midsize factories and streamlined standard operating procedures (SOPs) combined with rigorous quality control processes, NoName ensures top-notch production quality with low MOQs. This empowers brands to thrive without the burden of large inventory requirements.

Distinguished by their focus on organic and sustainable materials, NoName stands out by avoiding the use of leather, silk, fur, or any materials associated with animal cruelty. Their ethical production facilities and award-winning practices have earned them recognition as one of the ‘Top 10 Organic Product Manufacturers in India.’

The NoName booth will showcase live demonstrations, sample displays, and opportunities for personalised design consultations. Attendees will gain valuable insights into NoName's seamless production capabilities and their unwavering commitment to revolutionizing the fashion industry through sustainable and ethical practices.

To be held from Nov 16-17, 2024 in London, the 10th edition of India Fashion Week London will celebrate the best of ethnic Indian fashion at the Novotel London Hammersmith.

Organised by the Platinum Group, the Indian Fashion Week London will showcase contemporary fashion on a global platform. The event will be sponsored by Johnnie Walker while the JD Institute of Fashion Technology will be the official event partner.

The event will bring together a wide range of talent and creativity by showcasing the latest trends and designs from emerging and top Indian designers, say the event organisers on the event’s official website. The event will offer a glimpse into the vibrant world of Indian fashion with its showcase of everything from traditional handloom textiles to cutting edge couture. Captivating runway shows, exhibitions, and networking opportunities will catalogue the event India Fashion Week London as a melting pot of style, innovation, and cultural exchange.

The most recent edition of India Fashion Week London was held in 2023, with runway shows choreographed by Lokesh Sharma. The event was attended by designers including Urvashi Kaur, Pkin, Noureen Dhanani, Khinkhwab, House of Jediiians, The Frontrow Couture, Deepee’s Jodhpur, and Samant Chauhan.

KewalKiran Clothing Limited (KKCL), a prominent player in the fashion industry, has made headlines with its strategic acquisition of a 50 per cent stake in Kraus Casuals Private Limited (KCPL), signaling a bold move into the Women’s Denim & Casual Wear category. The acquisition, valued at Rs 166.51 crores, encompasses both primary infusion and secondary purchase, amplifying KKCL's market footprint and reinforcing its dominance in the Indian and UAE markets.

Expanding into women’s denim & casual wear

KCPL, operating under the brand 'Kraus jeans', has carved a niche for itself in manufacturing, selling, designing, and exporting women's clothing, with a focus on casual and denim wear for women, teens, and kids. This strategic move sees KKCL venturing into a new realm, broadening its portfolio and enhancing its market presence.

The acquisition comes on the heels of a Business Transfer Agreement (BTA) between KCPL and Oriental Trading Company (OTC). Under this agreement, the partners of OTC, namely Ravi Punjabi, Sunil Punjabi, Sushil Punjabi, and Atmaram Punjabi, are set to transfer the partnership's business as a going concern to KCPL, paving the way for seamless integration and operational continuity.

With over 1,000 large format stores in its arsenal, including Lifestyle, Pantaloons, Reliance, and Shoppers Stop, Kraus augments KKCL's extensive network of 488+ Exclusive Brand Outlets and 80+ Distributors. This synergy not only strengthens KKCL’s position but also enhances its accessibility across various retail platforms, ensuring wider market penetration.

Leadership voices

Kewalchand Jain, Chairman & Managing Director of KKCL, expressed enthusiasm over the acquisition, emphasizing its significance in aligning with the company's strategic vision. He anticipates the move to be earnings per share accretive, fostering enduring value for shareholders in the foreseeable future.

Hemant Jain, Joint Managing Director of KKCL, hailed Kraus' founders for their prowess in establishing a reputable brand in the women’s denim &casual wear segment. He highlighted the acquisition as a catalyst for KKCL's evolution into a comprehensive casual wear brand for families, leveraging Kraus' expertise and market positioning.

Ravi Punjabi, Director of Kraus Casuals Private Limited, lauded the partnership with KKCL, citing it as a pivotal opportunity to expand their market reach and elevate the Kraus brand. He expressed confidence in KKCL's resources and knowledge, envisioning a synergistic collaboration that propels Kraus to new heights.

KKCL's acquisition of a 50 per cent stake in Kraus Casuals Private Limited marks a strategic maneuver aimed at reinforcing its market leadership and diversifying its product offerings. With a shared vision for growth and innovation, this partnership sets the stage for a dynamic synergy in the Women’s Denim & Casual Wear landscape, promising enhanced value for stakeholders and consumers alike.

Value fashion retailer, V2 Retail plans to open 20-25 new stores in FY25. The company added 15 new stores during the financial year 2024, bringing its total store count to 117.

During its recent fourth quarter ended March 31, 2024, V2 Retail posted a net profit of Rs 4 crore against a net loss of Rs 8 crore posted in the same period last year.

The company’s revenue for the quarter increased by 53 per cent to Rs 296 crore from Rs 193 crore in the corresponding quarter of the previous fiscal year. Its net profit for the entire FY2024 reached Rs 28 crore with revenue during the year totaling Rs 1,165 crore.

Ram Chandra Agarwal, Chairman and Managing Director, says, the company is well-positioned to accelerate and deliver substantial value to customers and shareholders. The growing acceptance of the company’s brands highlights not just the attractiveness of its platform but also the tremendous potential it offers to seize future opportunities, he adds.

Khadim India’s Q4, FY24 net profit declined by 76 per cent to Rs 1 crore from Rs 4 crore in the corresponding quarter in the previous year.

The company’s revenues also declined by10 per cent during the quarter to Rs 144 crore from Rs 159 crore in the previous quarter ending March 2023.

For the full financial year 2024, Khadim India registered a 64 per cent Y-o-Y decline in net profit to Rs 6 crore, with annual revenues of the comapny amounting to Rs 615 crore.

The company’s earnings report attributes the decline in net profit primarily to a one-time profit earned from the disposal of immovable properties in the previous year.

However, despite this decline, Khadim India continued to boost its retail network with 94 new stores in FY24, bringing the company’s total store count to 868. The company also strengthened its distribution network by adding 81 new distributors, increasing the total to 753.

One of India’s largest footwear retailers in terms of exclusive stores, Kolkata-based Khadim India currently operates 846 retail stores, supported by a robust network of 700 distributors.

Indian national football team captain Sunil Chhetri has been signed as the new ambassador by footwear brand Skechers.

The brand has roped in Chhetri to endorse its new football boots in marketing campaigns across various platforms. The boots will be launched in the Indian market in August 2024.

The brand Skechers empowers individuals to unlock their complete potential, both on and off the field, says Chhetri.

Rahul Vira, CEO, Skechers Asia, adds, Chhetri’s best-in-class commitment aligns perfectly with the brand’s values. Represents its dedication to building sports and performance in the country, Chhetri proves to be the Sketchers’ most ideal brand ambassador.

Sketchers retails its performance and lifestyle footwear through a dedicated e-commerce store and retail stores across the country.

Kewal Kiran Clothing (KKCL) has forayed into the women’s denim segment with the acquisition of a 50 per cent stake in Kraus Casuals, the owner of women’s denim wear brand ‘Kraus,’ for Rs 167 crore ($20 million).

The acquisition will enable KKCL to expand its presence in India and the UAE. According to Kewalchand Jain, Chairman and Managing Director, KKCL, the acquisition aligns with the company’s vision to expand and diversify its denim and casual wear portfolio. It is a testament to the company’s commitment to growth and innovation.

Ravi Punjabi, Director, Kraus Casuals, adds, KKCL proves to be a perfect partner to Kraus Casuals for expanding market presence and growing the brand’s operations. The company’s expertise in brand building, marketing and distribution ensures complete utilisation of Kraus’ true potential.

Currently operating through eight exclusive brand outlets, Kraus is also present in India in over 1,000 large format stores including Lifestyle, Pantaloons, Reliance, Shoppers Stop, Lulu, etc.

As against a net profit of Rs 2 crore registered during the corresponding quarter previous year, VIP Clothing recorded a net loss of Rs 7 crore in Q4, FY24 that ended March 31, 2024
The company’s revenue for the quarter also declined by 37 per cent to Rs 32 crore, down from Rs 52 crore in the corresponding period of the prior fiscal year.

For the entire FY 2024, VIP Clothing’s revenues declined to Rs 183 crore while it recorded a net loss of Rs 13 crore. The company’s performance during the quarter and the entire year was impacted by subdued market conditions. In future, it aims to launch new products aligning with customers’ needs. This will help drive positive product uptake and boost demand for its products.

Entering a transformative era, VIP Clothing delivers best-in-class products to expand the power of its brand recall. This will yield strong financial results in the coming quarters, the company hopes.

A specialist in the manufacturing, marketing, and distribution of men’s and women’s innerwear, VIP Clothing owns brands like VIP, Frenchie, Feelings, and Leader.

Sportswear brand Asics has expanded its store network in Maharashtra by launching a new brick-and-mortar store in Pune. Located within the city’s Amanora Mall, the store retails clothing, footwear, and accessories for a range of sports.

Featuring large digital screens on its façade and a bright modern style interior, the store is divided into various segments with a wall dedicated to sneakers. A specialist in running wear, the brand sells men’s and women’s apparels in vibrant colors.

Launched with the brand’s new ‘Nagino Collection, the store blends performance with style. Asics has opened a number of stores in the past few months, including one on the second floor of the Lulu Mall in Thiruvananthapuram in March.

Launched by basketball shoe manufacturer Kihachiro Onitsuka, Asics is headquartered in Kobe, Japan. The brand sells its apparels through a mix of franchise stores, multi-brand outlets, its own e-commerce platform and multi-brand platforms

Aditya Birla Fashion Ltd (ABFRL), a leading Indian apparel company, presented a financially perplexing picture in the March quarter of FY24.

Losses mount despite revenue rise

ABFRL's Q4 FY24 results were a cause for concern. The company reported a net loss of Rs 266.35 crore, significantly wider than the loss of Rs 194.54 crore in the same quarter last year. This paints a grim picture of mounting losses. However, there's a twist -- revenue grew by 18.3 per cent year-on-year. In fact, the total revenue of the company stood at Rs 3,406.65 crore, rising 18.29 per cent from Rs 2,879.73 crore last year. Earnings before interest, tax, depreciation and amortization or EBIDTA for the quarter was at Rs 283.7 crore growing by 47.1 per cent. And EBITDA margins have improved by 8.3 bps YoY vs 6.7 YoY. So, why the loss despite a rise in sales?

Rising costs and integration woes

Several factors seem to be behind the losses. The company statement acknowledges ‘negative operating leverage on the back of sluggish sales’, implying rising costs outpaced revenue growth. Additionally, the recent acquisition of TCNS Clothing Company might be causing integration challenges, impacting profitability.

The ABLBL brand basket includes lifestyle brands like Louis Phillippe, Van Heusen, Allen Solly, Peter England, and Simon Carter. Youth western brands like American Eagle and Forever 21. Sportswear brand Reebok and innerwear business operating under the Van Heusen brand.

As per reports, lifestyle brands recorded 2 per cent YoY growth, reaching Rs 1,564 crore; EBITDA was Rs 305 crore, a 36 per cent YoY growth due to better gross margins and cost management. EBITDA margin rose 19.5 per cent, up by 480 bps compared to the previous year. All these brands are focusing on upgrading products, innovations, and expanding into new high-quality categories as part of their premiumization efforts.

On the other hand American Eagle recorded another quarter of strong performance with 27 per cent sales growth, led by strong distribution expansion. The brand opened six new stores in the quarter to exit at 65 stores, along with being available across 120+ departmental doors.

Bright Spots, segment growth and strategic moves

Despite the headline loss, there were positive aspects. ABFRL's Madura Fashion & Lifestyle segment, with popular brands like Peter England, witnessed robust growth of 30 per cent. This indicates continued customer demand for their established brands. Furthermore, ABFRL recently announced a strategic demerger, separating its innerwear business into a new entity. This move, according to management, aims to create "two separate growth engines", potentially boosting profitability in the long run.

ABFRL's management is confident about the company's future. Kumar Mangalam Birla, CEO, stated in an earnings release, "The strategic de-merger of ABFRL is paving the way for the creation of two separate growth engines...". This de-merger refers to the separation of the company's innerwear business into a distinct entity. Management believes this restructuring will improve operational efficiency and profitability.

However, analysts remain cautious. While acknowledging the positive aspects, they emphasize the need for ABFRL to control costs and streamline operations. The success of their restructuring efforts and the impact of the TCNS Clothing integration will be crucial factors to watch in the coming quarters. ABFRL's Q4 FY24 financials are a story with an uncertain ending. The losses raise concerns, but growth in core segments and strategic moves offer a glimmer of hope. Investors should closely monitor ABFRL's progress in the coming quarters to see if they can successfully navigate the current headwinds and translate growth into profitability.