In a groundbreaking move, Linen Club, a leading linen brand under the Aditya Birla Group, has launched an unprecedented campaign celebrating the annual Sankranti festival. The campaign, a first of its kind by any textile fashion brand in India, focuses on the age-old tradition of Bhogi, symbolizing new beginnings during the harvest season.

Letting go for new beginnings: Bhogiritual as a life lesson

Capturing the essence of Sankranti, the campaign emphasizes the significance of 'letting go off the old,' a crucial custom in Andhra Pradesh. The Bhogi ritual involves discarding old belongings into a ceremonial fire, paving the way for a fresh start and an annual shopping spree for farmers.

360-degree campaign: Linen Club's unique approach

The 360-degree campaign, activated across digital platforms, offline media, brand stores, and radio, invites everyone to share what they resolve to 'let go off' to embrace new beginnings. Linen Club sees the Bhogi ritual not just as a custom but a valuable life lesson, promoting evolution and embracing the new.

Melodious festive song and folk melody integration

Accompanying the campaign is a festive song, 'Linen Club SankrantiSambaralu,' performed by award-winning singers GeethaMadhuri and LollaVenkataRevanth Kumar Sharma. The unique endeavor by a fashion brand to present a local folk melody aligns Linen Club with its customers during their most important annual festival.

Celebrating authentic aesthetics: Linen Club's expertise

The campaign brings alive the authentic aesthetics of the festival and showcases Linen Club's expertise with a wide palette of fabrics and apparel. The film, directed by NirupamParitala and Surya, beautifully captures a Sankranti morning, emphasizing celebration, prosperity, and new beginnings.

A heartwarming story: Tradition, family, and new Beginnings

The video story features a Sankranti morning with a family preparing for the Bhogi ritual. The grandfather imparts wisdom to the grandson about the importance of letting go of the old. A touching moment arises when the child, inquiring about throwing away anger, prompts the grandfather to reconcile with his estranged daughter.

Passion, authenticity, and expertise: Linen Club's commitment

Satyaki Ghosh, CEO, Domestic Textiles, Grasim Industries, Aditya Birla Group, expresses excitement, stating that Linen Club's campaign pays homage to Andhra Pradesh's rich culture. The brand's commitment to customer engagement and sustainability is evident in its premium linen fabrics and festive apparel range.

Experience the spirit of Sankranti with Linen Club, embracing tradition while making room for new beginnings through the purity of linen.

23 November 2023, Mumbai

Adesh Kumar Gupta, who served as the Executive Director at Liberty Shoes, was removed from the company's board of directors following the rejection of his petition by the National Company Law Tribunal (NCLT). Gupta's plea, filed under Section 244 of the Companies Act, 2013, which alleged oppression and mismanagement, was dismissed after seeking exemption from the requirement to file such a plea.

Nuanced picture

Gupta, along with other shareholders, collectively holding 5.83 per cent of the company's shares, sought relief under Section 244.

To file a plea on grounds of oppression and mismanagement, he needed at least one-tenth of the total issued share capital of the company. While this requirement can be waived by the NCLT in special circumstances, Gupta's petition was rejected.

The resolution for Gupta's removal from the company's board was passed during the Annual General Meeting held on September 30, 2023. This development marks a significant change in the leadership structure of Liberty Shoes, with Gupta's removal raising questions about the governance and internal dynamics within the company.

Latest Textile Events

26th October 2021, Mumbai:

Nykaa, a highly valued start-up led by a women entrepreneur 'Falguni Nayar-founded' online cosmetics and fashion retailer which is underway to going public, making a profit for a change is well-backed by marquee investors viz TPG Growth Lighthouse Ventures & JM Financial, has reported an impressive GMV of $199 million in Q1FY22, more 3x it recorded $59 million in the corresponding period yesteryear.

Just for the information, "GMV in e-commerce would indicate the worth of whole items bought on a platform, together with reductions/ discounts/ rebates though excluding returns.

Over here it is interesting to mention that consolidated GMV fundamentally covers the corporate’s magnificence, private care enterprise, and style vertical just to broadly explain the state of existing affairs.

GMV pie goes like this," A big chunk of the start up’s gross sales are interestingly from tier-2 and -3 cities. However it is vital to state that 95% of the entire gross sales are out of digital presence, the rest portion is from the physical 80 shops nationwide proving a successful omnichannel approach corporate has undertaken through its course".

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4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

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Aimed at tapping the burgeoning affluent market in India, Tata Capital, the financial services arm of the $144 billion Tata Conglomerate, is set to acquire a 13 per cent stake in the domestic fashion brand Rare Rabbit at a valuation of $300 million.

Rare Rabbit, founded in 2015 by the family-run company Radhamani Textiles, specializes in men's shirts and other apparel, offering a stylish range priced between $20 and $80. With a significant presence through 90 retail outlets across India and a robust online platform, Rare Rabbit has become a notable player in the fashion industry.

This investment by Tata Capital reflects the broader trend observed among conglomerates, with the likes of Mukesh Ambani's Reliance showing a keen interest in the premium fashion segment. Tata Capital's infusion of $40 million into Rare Rabbit underscores its commitment to being part of the evolving landscape of the Indian fashion and clothing sector.

It's noteworthy that major domestic and international brands including Tommy Hilfiger and Uniqlo, have been drawn to the opportunities presented by the Indian market. Concurrently, retail giants like Reliance and the Tata Group are strategically positioning themselves by catering to the middle-class segment, offering a diverse range of mid-range clothing options through their expansive networks of outlets across the nation. In essence, Tata Capital's investment in Rare Rabbit signifies a strategic alignment with the dynamic shifts in consumer preferences and the conglomerate's commitment to exploring and investing in sectors poised for growth in the Indian market.

25th October 2021, Mumbai:

The Clothing Manufacturing Association of India (CMAI) has fully justified the non-payment of VDA factor using the disruption & financial distress & disturbance caused by COVID-19 leading to battered balance sheets of most of the business units and on the back of the fact that the matter is subjudiced.

Here there is a case in point that close to four (4) lakh garment workforce of Karnataka (India), comprising of a good chunk of women workers await for their respective Variable Dearness Allowance (VDA) fixed for the time period of 2020-21.

Let us have a legal view on this, "The garment industry is among the 82 scheduled industries that come under the Minimum Wages Act to where this VDA is technically applicable,”.

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4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

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Prashat Aluru, Co-founder and CEO of TMRW, the roll-up commerce company under the Aditya Birla Group, anticipates FY24 revenues for its fashion and apparel brands to reach $150 million.

Currently, TMRW boasts of eight brands in its portfolio, three of them falling within the Rs 200 crore-Rs 350 crore range and five in the Rs 50 crore – Rs 100 crore range. Aluru highlights the larger brands within the company are experiencing a robust growth rate ranging between 20 and 30 per cent.

Aluru emphasizes the strategic use of data science as a pivotal element in brand-building. TMRW currently employs two data science stacks to enhance its operations. Among the notable brands in TMRW's portfolio are Bewakoof, The Indian Garage, JuneBerry, and Nauti Nati.

As per Cotton Market Bulletin l
Cotton Futures
Most cotton futures contracts closed higher on November 13, 2023.
The December 2023 contract closed up 16 points at 77.48 cents per pound.
The March 2024 contract closed down 3 points at 79.47 cents per pound.
The May 2024 contract closed up 13 points at 80.41 cents per pound.
Pakistan
The Spot Rate Committee of the Karachi Cotton Association (KCA) decreased the spot rate by Rs 2,00 per maund to Rs 17,500 per maund.
The cotton market remained bearish with low trading volume.
Australia
Cotton Australia is launching an information and advertising campaign to tackle spray drift risks for growers.
The campaign will include radio ads, media releases, and collaboration with enforcement agencies.
The goal is to ensure that growers and contractors spray in compliance with regulations to protect themselves and their neighbors.
Overall, the cotton market is mixed with some contracts up and others down. Pakistan is experiencing bearish market conditions with low trading volume. Australia is taking proactive steps to address spray drift risks.

25th OCTOBER 2021, Mumbai:

At the inauguration of TEXCON: The 13th edition of the International Conference on Textiles & Apparel organized by the Confederation of Indian Industry last week, "A special CII-Kearney report was also released".

The report is a comprehensive view of the entire textile value chain outlining the trade imperatives for both the key actors i.e. government and industry to put the sector in a fast lane.

Shri Upendra Prasad Singh, Secretary, Ministry of Textiles alluded that the proactive government efforts to facilitate the creation of an enabling environment for sustainable growth and to get the Textiles and Apparel (T&A) sector its mojo back.

It was unequivocally echoed that “Textile sector per se is capable to meet the local as well as the overseas market demands but still something is missing. Therefore, the need of the day is that we have to glue the different pieces of the jigsaw puzzle.

Mr. Dilip Gaur, Chairman, CII National Committee on Textiles and Apparel & Managing Director, Grasim Industries Limited, Aditya Birla Group opined, achieving path-breaking growth in Indian textiles could simple mean doubling down on all the key metrics.

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4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

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29 November 2023, Mumbai

The combined revenues of key players in the home textile sector, including Welspun, Trident, Himatsingka, and Indo Count, are forecast to see an approximately 8 percent year-on-year increase, reaching Rs 215 billion in FY24, says an ICRA Ratings report.

KK Lalpuria, Executive Director and CEO of Indo Count Industries, emphasizes that the primary driver for this growth will be the escalating demand for premium and sustainable home textile products. Conversely, the demand for mass-produced home textile items is anticipated to remain at a moderate level.

Bracing up

Overcoming challenges such as elevated material and energy costs, alongside subdued demand in the US and EU markets, led to an 18 per cent decline in India's home textile exports in FY2023 and a subsequent 12 per cent decline in the initial four months of FY2024.

During these periods, the US claimed the largest market share in home textile exports, accounting for 56 per cent in FY2023 and 58 per cent in the initial four months of FY2024.

Quotes

Kaushik Das, Vice-President & Co-Group Head, Corporate Sector Ratings at ICRA, expresses optimism that India's home textile exports will receive a boost in the first four months of FY2024, driven by proposed Free Trade Agreements (FTAs) with the UK and the EU, existing FTAs with Australia and the UAE, and the China Plus One strategy adopted by major retailers.

Multiple data-points

Projections indicate that the export share of home textile products such as beds, tables, toilets, and kitchen linen will rise to 32–33 percent in the initial four months of FY2024, while exports of carpets and floor coverings are expected to surge to 31 per cent.

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Additionally, the anticipated rationalization in raw material costs and advantages stemming from a larger scale is poised to elevate the operating margins of home textile exporters by 250–350 basis points, reaching 14.5–15.5 percent in FY2024.

25th October 2021, Mumbai:

Hon'ble Textile Minister, Piyush Goyal has recently reviewed the 'Revised Technology Upgradation Fund Scheme (ATUFS)' to give a palpable fillip to the underperformer Textile Sector.

Hon'ble Textile Minister, Piyush Goyal & 'Minister for State for Textiles, Smt. Darshana Vikram Jardosh has seriously reviewed looking into the granularity of 'Amended Technology Up-gradation Fund Scheme (ATUFS)' pivoting this exercise going across the several Ministries, Departments, Textiles Industry Associations, Trade bodies, and Banks, etc at the 5th Inter-Ministerial Steering Committee (IMSC) notably the meeting in question was well-conducted & by (MoT) the Ministry of Textiles.

The clear-cut message is that government continues its philosophy of creating an easy working business environment, sector PLI Scheme, pushing trade to bolster exports besides 'Reduction of Compliance burden' thus fuelling employment across the supply chains of this enormous sector.

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2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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