Apparel

Follow us on Linkedin & Youtube.

Apparel 24-01-2022

Dominor Investment and others invest in startup investment to Zymrat

.

Apparel 24-01-2022

Shoppers Stop posts net profit in Q3 FY22

22 January 2022, Mumbai:

The consolidated net profit of Shoppers Stop reached Rs 77.32 crore in the third quarter ended December 2021. The company had posted a net loss of Rs 25.11 crore in the October-December quarter a year ago.

Its revenue from operations increased by 33.82 per cent to Rs 958.11 crore during the period under review as against Rs 715.97 crore in the corresponding quarter of the previous fiscal. Total expenses increased by 16.23 per cent to Rs 905.14 crore in Q3/FY 2021-22, as against Rs 778.78 crore.

Venu Nair, Managing Director and CEO, says, as the fashion and beauty retail is seeing encouraging early trends from the Wardrobe Reboot, we are rightly poised to capture the pent-up demand.

The company has seen a sustained demand during the festive period and the marriage season in October and November. It has witnessed a high customer spend and a higher Average Transaction Value (ATV), adds Nair.

The company is encouraged by the strong rebound and expects an accelerated growth trajectory now, driven by a robust recovery from the lockdown blues, accelerated small size store expansion, growth in the private-label mix, and an increased focus on high growth beauty business.

Shoppers Stop operates 83 department stores in 45 cities. It also operates 11 premium home concept stores, 129 Specialty Beauty stores of M.A.C, Estee Lauder, Bobbi Brown.

Apparel 22-01-2022

Shoppers Stop posts net profit in Q3 FY22

Industry Data Analytics, report: Global Cashmere Clothing Market To Reach $3,333.6 MN By 2026

22 January 2022, Mumbai:

Estimated to be worth $2844.6 million in 2020, the global cashmere clothing market is expected to be worth $3,333.6 million in 2026 with an estimated growth rate of 4.0 per cent CAGR over the next five year, says Cashmere Clothing Market Report by IndustryDataAnalytics, a digital consultancy company providing research reports across Industries.

China tops both production and consumption

The report states, China is the largest exporter of Cashmere clothing in the world. It exports around 70 percent of the world’s cashmere to various countries.

Italy is its largest importer with imports accounting for 78 percent of total cashmere exported by China in April 2017. China is also the largest importer of Cashmere in the world.

The country’s growing national economy and gradually improving quality of life is driving Cashmere up consumption. Many leading companies like Lara Plana and Brunello Cucinelli are known to import large amounts of Cashmere for their products.

China manufactures Cashmere garments in large quantities. Yet, its brand penetration is low as most of brands operate as OEMs.

This relegates most local brands to the bottom of the Cashmere value chain across the world. US is also a leading manufacturer of cashmere clothing in the world. In 2016, it manufactured about 19 per cent of world’s cashmere production amounting to 3.5 million units.

Global cashmere clothing market to reach 3333.6 million by 2026

Cheap raw materials and labor help Asia dominate

Among the continents, Asia leads global cashmere production due to its low raw material costs and easy availability of cheap labor. This has led to many famous cashmere brands setting up their manufacturing bases across Asia.

The fashion luxury cashmere market is largely concentrated with top 20 brands accounting for 50 per cent of global market share.

The report states, Loro Piana, Brunello Cucinelli, Ermenegildo Zegna, Malo, Alyki, Pringle of Scotland, SofiaCashmere, Autumn Cashmere, TSE, Ballantyne, Birdie Cashmere, Maiyet, Gobi, GOYO, Cashmere Holding, Erdos, Hengyuanxiang, Kingdeer, Snow Lotus, Zhenbei Cashmere are some of the leading players in world cashmere market.

Stay Updated.

Follow us on Linkedin & Youtube.

Apparel 21-01-2022

Industry Data Analytics, report: Global Cashmere Clothing Market To Reach $3,333.6 MN By 2026

Eelam Tamils criticize Raw Mango’s new collection

24 January 2022, Mumbai:

Raw Mango’s new collection has been criticized by Eelam Tamils for resembling the uniform worn by the Liberation Tigers of Tamil Eelam (LTTE). As per The News Minute, Eelam Tamils have criticized Raw Mango’s new Winter/Fall 2021 collection for featuring tiger-striped, militaristic outfits.

Called ‘Sher Bagh’, the collection includes outfits resembling LTTE uniforms. LTTE is the armed guerrilla organisation that fought against the Sinhala-led government’s defence forces during the Sri Lankan Civil War.

Researcher Sinthujan Varatharajan, known popularly by their Instagram handle @varathas, called the collection a commodifying of the resistance aesthetics of living people Others accused the collection of being a rip off of Eala Thamizh women’s guerrilla uniforms.

Raw Mango described the collection as collaboration between Raw Mango and Anjali Singh of Sujan.

However, critics believe, the resemblance to LTTE uniforms is no coincidence. The headgear is similar to the cap worn by Sinthujan notes. Additionally, the uniforms are oversized hinting at the original’s mass-produced quality.

The brand has been criticized for deleting critical comments on its Instagram posts. The collection’s appropriation with military uniforms rankles, says Sithujan.

It banalizes their sufferings and makes it routine, he adds.

Stay Updated.

Follow us on Linkedin & Youtube.

Apparel 24-01-2022

Eelam Tamils criticize Raw Mango’s new collection

Haryana's apparel industry is concerned as the state implements an employment reservation law in the private sector

23 January 2022, Mumbai:

Haryana, a renowned garment manufacturing state, has implemented a 75% job reservation policy in the private sector for residents earning less than Rs. 30,000 per month. This job quota has heightened the industry's concerns, which it describes as "unjustified."

Not just clothes makers, but also retailers and other companies are concerned about the Haryana government's decision. Garment Resources has also underlined how private job reservations for locals will harm the apparel business over a year ago when the matter was presented.

The largest centers of garment and textile-related items are Gurugram, Faridabad, Panipat, and Sonipat. Animesh Saxena, MD of Neetee Clothings in Gurugram and President of the Federation of Indian Micro and Small and Medium Enterprises (FISME), believes that this is harmful to MSMEs because the bulk of their staff is within the Rs. 30,000 pay category, which is subject to employment reservation. He also stated that, sadly, local candidates in many of the needed skill sets are not accessible in sufficient quantities.

Filling vacancies and planning expansion would be a big difficulty for MSMEs. The statute will be in effect for ten years, and the State Government has reduced the residence (domicile) requirement from 15 to 5 years for a person to get a bona fide resident certificate in the state, allowing private enterprises more recruiting freedom.

Stay Updated.

Follow us on Linkedin & Youtube.

Apparel 22-01-2022

Haryana's apparel industry is concerned as the state implements an employment reservation law in the private sector

Babycare market including apparel to thrive notwithstanding slowing population

22 January 2022, Mumbai:

A declining population, as indicated by the fifth National Family Health Survey (NFHS) for 2019-21, is unlikely to have an impact on the baby care market in India.

While the NFHS recently detailed how India's total fertility rate has fallen below 2.1 for the first time (2.1 being the benchmark replacement rate), factors such as maternal health, fertility, nutrition, women's empowerment, and digital uptake also have a direct im- pact on the baby and mother care market.

Global Baby Care Products Market to Expand at a CAGR of 5.0% over 2018 to 2026 as Population of Working Women Increases, finds TMR

Key segments of the baby care market- including apparel are said to be growing at 13-14% per annum.

Credits: TOI Dt 22-01-2022

Stay Updated.

Follow us on Linkedin & Youtube.

Apparel 21-01-2022

Babycare market including apparel to thrive notwithstanding slowing population

Gokaldas Exports reports rise in net profit

23rd January 2022, Mumbai:

Bengaluru-based garment exporter Gokaldas Exports on Friday reported a big increase in its consolidated profit after tax (PAT) at Rs 30 crore for the December quarter over Rs 6 crore it recorded during the same period of last financial year.

As per The Economic Times report, the company recorded revenue growth of 95% during the quarter at Rs. 524 crore over Rs. 268 crore it achieved for the same period of last fiscal year.

In the December quarter, the company recorded an earning before interest, depreciation & amortization (Ebitda) of Rs. 63 crore, compared to Rs. 24 crore during the corresponding period of last year and Rs 54 crore in the previous quarter as per ET. The company said its Ebitda margin has improved by 3% over the same quarter of the last financial year.

During the last nine months, the company has incurred a capital expenditure of Rs. 42 crore towards capacity expansion and modernization of its business infrastructure.

**The statistics mentioned in the above articles have been sourced from The Economic Times.

Credits: TheEconomicTimes, MoneyControl

Stay Updated.

Follow us on Linkedin & Youtube.

Apparel 23-01-2022

Gokaldas Exports reports rise in net profit

Hans Creations in Jaipur has tripled its hand printing capability

23 January 2022, Mumbai:

The Indian textile sector is doing well and is on the right road, according to recent statistics from both the export and domestic markets.

Not just the giants, but even the micro-level players are expanding and preparing to develop. Hans Creations, a 6-year-old company located in Jaipur with its own dyeing, printing, and sewing operation, has tripled its hand printing capacity and expanded its product offering to include men's shirts and children's clothing.

Currently, the organization produces women's tunics for both export and local markets, with a daily printing capacity of roughly 1,500 pieces.

"Despite the fact that hand printing is around 20% to 30% more expensive than machine printing, we have clients in both local and international markets who demand hand prints, whether block or screen prints." As a result, we grew," said Nitin Koolwal, the company's Director.

10 Best Places To Visit In Jaipur In One Day [2022 Guide!]

He went on to say that, rather than using traditional brick tables for printing, the new tables are built of high-quality iron, and that the new unit ensures smooth worker performance and simple material transportation.

"We have numerous obstacles in the company, but we are optimistic that things will improve in the next two to three months." Nitin said, "Our sample of children's clothes and men's shirts is also doing well."

Stay Updated.

Follow us on Linkedin & Youtube.

Apparel 22-01-2022

Hans Creations in Jaipur has tripled its hand printing capability

Narendra Kumar Goenka To Be The New AEPC Chairman

20 January 2022, Mumbai:

Narendra Kumar Goenka, Founder, and Managing Director, Texport Industries has been named as the new chairman of the Apparel Export Promotion Council (AEPC). Being associated with AEPC for over two decades, Goenka was the vice-chairman of the apex body of Indian apparel exporters before taking charge as chairman, AEPC.

He has assured of all efforts to bring positive change in the sector, find new markets for Indian apparel and boost growth in exports.

Assuming charge of the Council at its Executive Committee meeting, Goenka said, the current positive export trend is likely to accelerate in the last quarter of the year.

Narendra Kumar Goenka Takes Over as AEPC Chairman, Eyes Exports to Register Healthy Growth this Fiscal

This major turnaround will be possible due to highly efficient management by the government led by Prime Minister Narendra Modi and the entrepreneurial spirit of the Indian apparel exporters, he added.

KEY HIGHLIGHTS

Narendra Kumar Goenka is Founder & MD of Texport Industries
He is being associated with AEPC for over two decades
Goenka was VC of the apex body of Indian apparel exporters before it
He has assured of all efforts to bring positive change in the sector

Goenka appreciated the proactive approach, leadership and constant support extended to the apparel industry by Minister for Textiles, Industry and Commerce Piyush Goyal and Minister of Finance Nirmala Sitharaman.

He said AEPC looks forward to enhancing exports in both traditional and emerging export markets. He called for the fast-tracking of FTAs to give India a level playing field in global markets.

Goenka assured the Council that he will be in regular consultation with them while formulating plans and working in coordination with the government for the betterment of the apparel industry.

Stay Updated.

Follow us on Linkedin & Youtube.

Apparel 20-01-2022

'Denim Darzi' launches upcycled collection

22 January 2022, Mumbai:

Denim Darzi has launched a new upcycled, sustainable and fashionable range of collection. As per a Fashion Network report, the range includes outfits for men, women and kids. Started around the pandemic in 2020 by entrepreneur Rupali Mukherjee, the brand was born out of sheer love for denims and with an aim to repurpose old denim wear and industry-waste denim meaningfully.

Denim Darzi’s wide collection includes Indian, western and Indo-western styles in various silhouettes from a sari to a dhoti. The brand upcycles post-consumer discarded denims and textile industry-waste denim. It infuses the collected denim with fabric waste from shops and the textile industry to design our collections. Its outfits are a concoction of waste denim and other fabrics like satin, cotton, linen, jamdani, adds Mukherjee.

The brand has tied up with a tailoring unit. It does hand sketches and sends them. The idea was to work sustainably and not have a big production unit. The brand operates only through online platforms.

Apparel 22-01-2022

'Denim Darzi' launches upcycled collection

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI): Bangladesh’s exports to India to grow record high by FY22

22 January 2022, Mumbai:

Bangladesh's exports to the Indian markets are expected to reach $2 billion for the first time at the end of the current financial year as the demand for Bangladeshi products is increasing to the neighbouring country.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) said this in a statement following a meeting between Indian High Commissioner to Bangladesh Vikram K Doraiswami and FBCCI President Md Jashim Uddin at the FBCCI office in Dhaka today.

In the last one year, the trade between Bangladesh and India has increased by 94 per cent, it said.

Bangladesh's exports to India to grow record $2 billion by FY22: FBCCI | The Daily Star

Addressing the meeting, Doraiswami said his country wants to improve trade and investment relations with Bangladesh in the areas of logistics, food processing, automobiles and garments.

He also sought cooperation from FBCCI for strengthening the bilateral trade relations between the two countries.

Md Jashim Uddin said the development of the logistics sector is the prime agenda of FBCCI.

The apex trade body is working to submit a 12-year plan to the government for the development of the logistics sector, he added.

On India's trade potential with Bangladesh, the FBCCI president said India could be a major supplier of yarn and cotton to the garment industry soon.

Doraiswami further said a new gate would be opened soon at Petrapol land port to facilitate the movement of trucks between the two countries.

THE DAILY STAR (The news article has not been edited by DFU Publications staff)

Stay Updated.

Follow us on Linkedin & Youtube.