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VIP Clothing registers Rs 7 crore net loss in Q4, FY24

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.

VIP Clothing registers Rs 7 crore net loss in Q4, FY24

Go Colors launches new range to meet activewear demands in India

Venturing into the activewear market, Go Colors, the clothing brand of Go Fashion has launched a new apparel range named ‘Go Active.’

Featuring women’s apparel specifically designed for comfortable workouts, the collection is available on the direct-to-consumer e-commerce store of Go Colors.’ It includes leggings, shirts, and joggers designed for activities such as yoga, cross-fit, and running. Available in a variety of colors, the range aims to meet the growing demand for activewear and athleisure options in India.

In addition to expanding its product selection, Go Colors is also broadening its retail footprint both within India and internationally. The brand recently signed a franchise agreement with the Middle East-based retail giant Apparel Group to extend its reach in Gulf Cooperation Council countries over the next five years. The expansion plan includes launching offline sales points and building a strong e-commerce presence in the region.

Go Colors launches new range to meet activewear demands in India

High Street Essentials secures Rs 50 crore to expand wedding wear range

Parent company of brands like Indya and FabAlley, High Street Essentials has secured Rs 50 crore ($6 million) in its latest funding round through a mix of equity and debt. Led by Sangita Jindal, Chairperson, JSW Foundation, the funding round was attended by SRF Group’s family offices, Cyient’s executive vice chairman and MD Krishna Bodanapu, and Pure Home + Living’s MD and CEO Timothy Sarna.

The newly acquired funds will be used to expand the brand’s luxury occasion-wear range, ‘Weddings By Indya,’ and strengthen its presence in the occasion and wedding wear market.

Established in 2012, High Street Essentials operates as a direct-to-consumer omnichannel fashion company, offering affordable western and ethnic-fusion apparel under its FabAlley and Indya brands.

According to Indya, the fresh capital injection would aid in expanding its footprint in both the Indian and global markets. The company, which counts Elevation Capital, India Quotient, and Dominor Investment Holding among its backers, has raised over $18 million to date.

The investment is expected to significantly enhance ‘Weddings By Indya,’ positioning it strongly within the $15 billion wedding wear market, much of which remains unorganised. Shivani Poddar and Anurag Murali, Co-founders, emphasised the substantial opportunity to establish a dominant presence in this sector.

Indya has partnered with notable Indian designers such as Rohit Gandhi, Rahul Khanna, Varun Bahl, Ashish N Soni, and Nikhil Thampi to cater to the booming wedding dress market in India. The brand's products are available through 12 exclusive brand stores in cities like New Delhi, Bengaluru, Chennai, Bhubaneswar, Indore, and Ahmedabad, as well as through its website and various online marketplaces.

High Street Essentials secures Rs 50 crore to expand wedding wear range

Go Fashions (India) partners Apparel Group for expansion in the UAE and Saudi Arabia

The parent company of the womenswear brand Go Colors, Go Fashions (India) has teamed up with the global retail giant Apparel Group to expand its presence in the UAE and Saudi Arabia over the next five years. The two companies have entered into a strategic franchise agreement to offer a diverse range of high-quality women's fashion products to customers in the GCC region.
Effective from May 14, 2024, the agreement will run until May 14, 2029. The agreement empowers Apparel Group to launch 13 new Go Colors stores across Saudi Arabia and the UAE.
Renowned for its vibrant bottom wear collection including leggings, trousers, palazzos, etc, Go Colors retails its products through its e-commerce store and various outlets across India.
The brand recently introduced a new range of Ikat textile bottom wear featuring colors such as pink and blue. Designed for relaxed summer days, the range enhances the brand's diverse offerings.

Go Fashions (India) partners Apparel Group for expansion in the UAE and Saudi Arabia

Apparel Group to expand brand R&B Fashion with 200 new stores

Apparel Group is set to significantly expand its homegrown brand, R&B Fashion, by launching 200 new stores across the GCC and India by the end of 2025. Currently, the lifestyle fashion brand operates over 135 stores in the GCC region. This expansion will involve not just increasing the number of stores; but also creating customer-centric spaces.

The new stores will offer a broad selection of apparel catering to diverse consumer bases, enhancing the shopping environment to ensure it is welcoming and inclusive for all. With a focus on exceptional service, these stores aim to become the preferred shopping destinations, meeting the evolving needs and preferences of customers.

Starting the year with strong momentum, R&B Fashion has already inaugurated over a dozen new stores in the first quarter alone. The brand’s presence is set to grow further with planned openings in prominent urban centers across Saudi Arabia, the UAE, Bahrain, Qatar, and India.

The upcoming store openings will predominantly be in key cities within the GCC, such as Riyadh, Jeddah, Dammam, Dubai, Sharjah, Manama, and Doha. Additionally, significant expansion is planned in major metropolitan areas of India, with new stores in both high street and mall locations to ensure widespread presence.

R&B Fashion retails its own label of men’s, women’s, and children’s apparel and non-apparel products, including shoes, handbags, and accessories, all designed in-house. The brand has announced that all R&B products are ethically sourced and it actively participates in the internationally acclaimed Better Cotton Initiative (BCI), working towards sustainability and a safe and secure environment.

Apparel Group to expand brand R&B Fashion with 200 new stores

Ethnic wear label Soch makes international debut with a store in Canada

Ethnic wear brand Soch has made its international debut by opening its first overseas store in Canada. Located on North Park Drive in Brampton, the store features the brand's latest collection, which includes a wide array of designer ethnic wear such as sarees, salwar suits, kurtas, tunics, kurta sets, lehengas, and kaftans.
Looking ahead, Soch plans to expand globally with new stores in the US, Malaysia, Singapore, Indonesia, Mauritius, the Middle East, and the UK. Vinay Chatlani, CEO and Co-founder, Soch, states, the brand’s expansion into the Canada market signifies its growth beyond borders, increasing the stakes and expectations of its consumers.
Currently, Soch operates over 175 stores across 68 cities in India and has an e-commerce platform that serves over 30,000 pin codes. The brand also sells through shop-in-shop formats and online marketplaces such as Amazon, Myntra, and Ajio.

From Gyms to Streets: Athleisure takes over India's fashion arena

The Indian athleisure market is witnessing a boom, driven by a rising focus on health and fitness, a growing young population, and a shift towards comfortable and versatile clothing. This trend has grown due to numerous factors like remote work culture, easy access to e-commerce platforms, and the emergence of affordable domestic brands. Today, athleisure - clothing that blends athletic wear with everyday fashion - has become a mainstream trend in India.
Affordability, online accessibility fuels growth
The Indian athleisure market was valued at $673.34 million in 2022 and expected to reach $1.93 billion by 2029 as per a report by MMR ‘India Sports Apparel Market– Industry Analysis and Forecast (2023-2029)’. Additionally, the increasing participation of women in the workforce (26.9 per cent as of 2023, World Bank) has led to a rise in demand for versatile clothing that transitions seamlessly from workouts to work environments. Growth is also attributed to several factors:
Increased health awareness: Indians are becoming more health-conscious, leading to a higher participation in fitness activities.
Work-from-home: The rise of remote work has blurred the lines between work and leisure, creating a demand for comfortable clothing suitable for both settings.
E-commerce boom: The easy accessibility of athleisure wear through online platforms has further fueled market growth.
Domestic brands grow with focus on local preferences
Traditionally, the Indian sportswear market was dominated by international brands like Nike, Adidas, and Puma. However, a new wave of domestic athleisure brands like HRX, Aastey, Blissclub, and Zymrat are making their mark by offering. What works for domestic brands is their competitive pricing as they cater to the price-conscious Indian consumer, offering stylish athleisure wear at affordable prices. Also, domestic brands are building strong brand loyalty by fostering a sense of community through fitness challenges, workshops, and online engagement activities. Design focus on Indian body types is another plus. For example, some brands, like Blissclub, specifically design their products to flatter Indian body types, addressing a gap in the market.
What’s more, homegrown brands are adopting innovative marketing strategies to reach their target audience. One way is social media. Leveraging the power of social media, these brands engage users with workout visuals, influencer partnerships, and live sessions, turning social media into a virtual fitness hub. Also, instead of relying solely on big-name celebrities, brands are partnering with micro and nano-influencers who have a more dedicated following and can provide a more genuine connection with the audience. HRX focuses on community engagement initiatives like fitness challenges, running events, and workshops. Similarly, Blissclub prioritizes understanding the challenges faced by Indian women when it comes to activewear and designs problem-solving products.
"Athleisure brands in India dominate social media with workout visuals... They engage users by seeking design input besides hosting live workouts with influencers, turning social media into a virtual fitness club," says Sonali Banerji, creative director at BCWW. This strategy fosters a sense of community and builds brand loyalty among customers.
More women in workforce, a perfect fit
India's rapid urbanization and increasing female workforce participation are further propelling the athleisure market. Urban consumers with disposable income are more likely to invest in comfortable and stylish clothing that transitions seamlessly from workouts to work environments.
“We design products that transition effortlessly from the gym to the street and even work... We see ourselves as part of a woman's entire wardrobe, not just her workout gear,” opines Minu Margeret, Founder and CEO of Blissclub. This caters to the growing demand for versatile clothing options for the modern Indian woman.
Indeed, the athleisure market in India is witnessing phenomenal growth, and several factors are at play. By offering affordability, catering to local preferences, and employing innovative marketing strategies, domestic brands are successfully capturing a significant share of this dynamic market. As the focus on health and wellness continues to rise, the future of athleisure in India appears promising.

From Gyms to Streets: Athleisure takes over India's fashion arena

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