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SP Apparels acquires Young Brand, unveils bold growth strategies

SP Apparels is strategically broadening its market presence by acquiring Young Brand Apparels, a subsidiary of Bannari Amman Spinning Mills. Young Brand Apparels, a joint venture between Jacob Industries, Mexico’s Intimark, and Bannari Amman Spinning Mills, specializes in intimate wear brands and holds a substantial customer base in the US.

Spread over 26-acres, the company operates a 280,000 sq ft factory in Chennai’s outskirts, equipped with a state-of-the-art manufacturing facility featuring an air-conditioned production floor. As part of its growth strategy, SP Apparels plans to assume the leasehold rights of a garment unit in Palladam from Bannari Amman Spinning Mills. The company aims to acquire a 43-acre property in SIPCOT, Perundurai.

In line with its expansion initiatives, SP Apparels is placing significant emphasis on enhancing employee performance through the introduction of an Employee Stock Ownership Plan (ESOP scheme).

 

SP Apparels acquires Young Brand, unveils bold growth strategies

RMG exporters honored with AEPC excellence awards, textile leaders aim for $40 bn RMG exports

On December 8, 2023, Piyush Goyal, Union Minister for Textiles, Commerce and Industry, as well as the Minister of Consumer Affairs, Food, and Public Distribution, handed out 'AEPC Excellence Honors' on RMG exporters for both 2021-22 and 2022-23. This recognition acknowledged their exceptional contributions to fostering a distinctive export culture.
Shahi Exports clinched the prestigious Gold trophy for achieving the highest global exports in both 2021-22 and 2022-23, while Richa Global Exports secured the Silver trophy. Arvind, Ahmedabad, was honored with the Bronze medal.
A Sakthivel, Chairman of AEPC and President of FIEO, received recognition for his exemplary mentorship in the Indian apparel industry. Additionally, Deepak Seth, the Founder and Group Chairman of Pearl Global Industries, was honored as the Icon of the Indian Apparel Industry. During the event, Sakthivel emphasized the importance of industry focus on innovation, market expansion, diverse product offerings, sustainability, responsible business practices, collaborative partnerships, and customer empowerment.

Minister Goyal called upon industry leaders to collectively strive for expanding textile exports to $100 billion. He urged a significant growth in RMG exports, aiming to elevate them from $16 billion to $40 billion. Goyal emphasized the need for apparel exporters to prioritize sourcing local materials over relying on potentially unreliable foreign suppliers. He cautioned against the allure of low-cost substandard goods, urging industry leaders to support domestic availability.

RMG exporters honored with AEPC excellence awards, textile leaders aim for $40 bn RMG exports

Pepe Jeans targets Rs 2,000 cr sales, eyes India as second-largest market

04 December 2023, Mumbai

Pepe Jeans London, the denim giant, targets a whopping Rs 2,000 crore in sales from the Indian market within the next two years, positioning it as the brand's second-largest market. Fueled by surging demand from youth, Pepe Jeans anticipates outpacing its sales in Spain and the UK in its Indian venture.

Pepe Jeans London plans to roll out over 100 stores across India in the next three years in an aggressive expansion move. Manish Kapoor, Managing Director and CEO of Pepe Jeans India, predicts a robust compound annual growth rate (CAGR) of 18–20 percent in India over the next three to five years. The brand is set on securing 55 percent of its business directly from sales through its channels.

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Recent years have seen Pepe Jeans strategically focus on trends and bolster its digital presence, with substantial growth from Tier II and III cities, driven by escalating disposable incomes and increased internet penetration.

Presently, 58 percent of Pepe Jeans' business originates from the top eight cities, with the rest coming from Tier II and smaller cities. With a presence in India dating back to 1988 and ownership of brands like Hackett and Faconnable, Pepe Jeans London also holds the licenses for distributing Tommy Hilfiger and Calvin Klein in Spain and Portugal.

While men's wear accounts for nearly 90 percent of its sales in India (as opposed to 65 percent in Europe), the brand is gearing up to amplify its footprint in the footwear and women's western wear categories across the country. Holding the coveted position as the second-largest denim brand in India, Pepe Jeans commands a network of over 200 branded outlets nationwide.

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CMAI's ‘Brands of India’: Indian apparel brands shine at Dubai trade show

01 December 2023, Mumbai

The Clothing Manufacturers Association of India (CMAI) achieved a historic milestone in the global retail market with the triumphant conclusion of the inaugural ‘Brands of India’ trade show at the Dubai World Trade Centre from November 27 to 29, 2023. This event showcased 350+ top Indian clothing brands, solidifying its position as a beacon of success.

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Global Recognition
Attracting over 2800 buyers from 67 countries, the event provided a substantial head start for Indian apparel brands in the dynamic Middle East and North Africa (MENA) region. The impressive buyer turnout predominantly included retailers and importers from key markets like UAE, Saudi Arabia, Oman, Qatar, Bahrain, Kuwait, Yemen, Egypt, Ghana, Ethiopia, Nigeria, and more.
Economic Impact
Anticipating an estimated business worth US$ 350 million over the next three years, Brands of India underscored the robust potential and demand for Indian apparel brands in the international market. Rajesh Masand, President, CMAI, expressed elation, stating, “This pioneering initiative... strengthens the economic ties between India and the MENA region.”


Stellar Success
Jayesh Shah, Chairman of Brands of India, and Vice President of CMAI, proudly acknowledged the stellar success achieved in the introductory edition. He emphasized the emergence and acceptance of Indian apparel brands on a global scale, affirming future focused events to sustain this momentum.
Diverse Showcase
Renowned brands like Oxemberg, Louis Philippe, Allen Solly, BIBA, and others showcased their collections internationally for the first time. The variety on display garnered appreciation from industry leaders, with Mr. Kabir Lumba, CEO, Landmark Retail at Landmark Group, emphasizing the huge potential of Indian apparel in the MENA region.
Strategic Timing
The strategic timing of Brands of India, preceding the significant Eid festival in April, aligns with the Comprehensive Economic Partnership Agreement (CEPA) signed between India and UAE in 2022. UAE, the largest importer of Indian ready-made garments, witnessed imports totalling a staggering US$ 1.21 billion in the fiscal year 2022-23, reaffirming sustained demand for Indian fashion in the region.
Positive Industry Feedback
Buyer groups such as Lulu Group, Landmark Group, and Apparel Group actively participated, highlighting the trade show's strategic importance in fostering strong business ties between India and the MENA region. Industry leaders praised the initiative, with Deepak Seth, Group Chairman of Pearl Global Industries Ltd., acknowledging the enormous potential in the Gulf, Middle East, and Africa.
Future Prospects
Participants, including Prem Ranjan, CEO of Gini & Jony, and Rushank Masand of Rushank Clothiers, expressed optimism about future business development. The exposure gained at Brands of India provided valuable insights for potential expansion into new markets, creating a solid foundation for future growth.

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Lestrange collaborates with Vaayu for world’s first lifecycle calculator

Menswear brand Lestrange has collaborated with tech startup Vaayu to launch the world’s first lifecycle calculator with live data insights to help consumers study the environmental impact of their fashion choices.

Called ‘Re Count,’ the calculator provides customers with information about latest fashion trends and fashion habits that can reduce emission per wear by up to 50 per cent. .

To operate this calculate, customers need to answer a set of questions that help assess their product selection choices and aftercare habits to extend a garment’s life, thus helping them decrease carbon footprint over the product’s entire lifetime.

The calculator also provides customers infographics and equivalencies to help visualize the impact of making small changes like modifying washing methods in their daily lives. The calculator allows them to explore different levers to see how adjustments such as wearing an item for longer between washes, reducing the washing temperature or holding on to it for an extended period of time can either increase or decrease the overall footprint of that garment.

Lestrange collaborates with Vaayu for world’s first lifecycle calculator

Gokyo expands: Unveils trendsetting outdoor store in Mumbai

Gokyo, the homegrown outdoor apparel and accessories brand, has unveiled its inaugural store in Mumbai's Malad district, showcasing a diverse product line, including trekking pants, jackets, base layers, and accessories like trekking poles and sleeping bags. Expanding its footprint, Gokyo plans to grow through franchising and partnerships with outdoor apparel outlets nationwide.

Having initially thrived online, Gokyo, operational for just a year, gained significant momentum through its website, Instagram, and Amazon presence. The brand now aims to strengthen its online standing by venturing into multi-brand e-commerce platforms.

Founder Venkatesh Maheshwari, also known as Venki, a seasoned trekker and mountaineer with three decades in the apparel industry, emphasizes Gokyo's significance as more than a brand—a manifestation of a Himalayan-inspired dream delivering premium outdoor wear for like-minded Indians.

Gokyo expands: Unveils trendsetting outdoor store in Mumbai

Weak demand forces innerwear brands to offer steep discounts

24 November 2023, Mumbai

Diminished demand and a surplus of inventory have compelled innerwear and athleisure wear brands to extend substantial discounts to customers in recent weeks. The Men's Underwear Index (MUI) reflects a downturn in India's men's underwear market, mirroring broader economic challenges. Page Industries, the proprietor of Jockey and Speedo brands in India, reported an 8.4 per cent revenue decline and an 8.8 per cent volume reduction in the September quarter.

Presently valued at $6.3 billion, the men's underwear market constitutes 9 per cent of the total domestic fashion retail segment. Despite its significant size, the market remains highly fragmented and disorganized. VS Ganes, Managing Director of Page Industries, underscores that many brands are resorting to unsustainable business practices due to the burden of excess inventory.

Brands attribute the deceleration in demand to a high base, particularly in the athleisure wear segment. Additionally, consumers have curtailed non-essential spending on apparel since Diwali last year, influenced by factors such as inflation, escalating interest rates, job losses in sectors like startups and IT, and an economic slowdown. The market has also witnessed disruptions from digital-first brands like XYXX, Damensch Almo, Bummer, and Freecultr, enticing consumers with attractively priced products.

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Global Kids' Wear Market: An overview

06 December 2023, Mumbai

Comfort, Eco-Friendliness, and Gender-Neutral Styles Drive Growth

The global kids' wear market, centered on children's clothing, prioritizes safety, comfort, and ease of wear. Cotton remains the preferred fiber for most children's garments due to its suitability for their delicate skin.

Eco-conscious and ethical trends rise

Eco-friendly and ethical textiles are fueling rapid market growth, with rising demand for sustainable practices. Gender-neutral unisex clothing is gaining popularity, and social media plays a significant role in shaping children's brand awareness.

Market expansion and online retail drive growth

Allied Market Research estimates a CAGR of 4.1% from 2023 to 2032, projecting the market to reach $286.9 billion by 2032 from $194.1 billion in 2022. Higher spending power, global expansion opportunities, and the growing online retail market supported by social media contribute to this growth.

Brands adapt to evolving preferences

Brands are responding to these trends by offering a wider range of colors, styles, and designs for children of all ages. Stretchable and adjustable fabrics are gaining traction due to their durability and practicality.

Diverse product range, character licensing, and unisex clothing

The product range encompasses outerwear like coats, jackets, dresses, tops, and more, along with bottom wear like skirts, jeans, trousers, shorts, and leggings.

The booming character licensing segment and the rising preference for unisex clothing in fast fashion attract cost-conscious parents, especially given children's rapid growth.

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Grand inauguration of CMAI’s ‘Brands of India’ trade show in Dubai

In a historic celebration of trade and cultural exchange, the inaugural Brands of India trade show, organized by the Clothing Manufacturers Association of India (CMAI), commenced at the Dubai World Trade Centre. Butti Saeed Al Ghandi, Vice-Chairman of the Dubai World Trade Centre, presided over the grand inauguration, setting the stage for a captivating showcase in Halls 6 & 7 from November 27th to 29th, 2023.
International collaboration on display
Supported by key entities such as the Embassy of India-UAE, TEXMAS, Dubai International Chamber, and the Readymade Garments Merchants Group Dubai, the event underscores the rapid expansion of Indian businesses in the UAE market. This surge is attributed to the positive momentum following the India-UAE Comprehensive Economic Partnership Agreement (CEPA) signed in 2022.
Government support and vision
Commending CMAI for Brands of India, Piyush Goyal, Minister of Commerce & Industry, highlighted the platform as an excellent opportunity for Indian brands to establish a global presence. Under the leadership of Prime Minister Narendra Modi, the Indian government is dedicated to fostering a world-class textile sector. The event aligns with the government's vision of promoting Indian brands globally.
Strengthening economic ties
Rajesh Masand, President of CMAI, emphasized the long-standing economic and cultural ties between India and the UAE. Brands of India serves as a catalyst, empowering Indian Apparel brands to strengthen their presence in the MENA region. Masand also highlighted the recent cooperation in digital currencies between the two countries, a development set to further boost business.
Fashion diplomacy
Butti Saeed Al Ghandi, Vice-Chairman of the Dubai World Trade Centre, as the Chief Guest, emphasized the power of fashion to transcend borders and create lasting connections. He expressed delight at witnessing an event that promotes diversity and showcases the vibrant tapestry of Indian brands.
Global recognition and participation
Jayesh Shah, Chairman of Brands of India, expressed excitement over the overwhelming response, with more than 350 brands participating instead of the initially envisioned 150. Renowned brands like Oxemberg, J. Hamstead, and Louis Philippe are among the 1500 buyers from over 30 countries who have pre-registered, affirming the show's potential to create exciting business prospects for Indian brands in the region.
Expanding global presence
Sunjay Sudhir, Ambassador of India to UAE, highlighted the global appeal of Indian brands and the immense scope for expansion in the Gulf, Middle East, Africa, and Europe under CEPA.
In conclusion, Brands of India is poised to be a key milestone in the international journey of Indian Apparel brands, showcasing a diverse collection spanning Western wear, Indian Ethnic wear, and Fusion wear.

Grand inauguration of  CMAI’s ‘Brands of India’ trade show in Dubai

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