06 January 2022, Mumbai:

Tirupur Exporters' Association (TEA) on Wednesday appealed to Union Finance Minister Nirmala Sitharaman to announce extension of Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit for another two years to make knitwear garment exporting units, particularly MSMEs, to enhance their competitiveness in the Global Market and sustain in the business.

In a representation to the union minister, TEA president Raja M Shanmugham said the units have been making efforts to come out of the impact caused due to the first and second wave of COVID pandemic and need this financial support to come out of the crisis.

Copies of the representation were sent to Union Minister for Textiles Piyush Goyal.

TEA

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TEA

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

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

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

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

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08 January 2022, Mumbai:

Despite several obstacles, many micro and small businesses are thriving and increasing. Swastik Health Wear, established in Delhi, is one such company. The company presently employs over 150 people and wants to invest roughly Rs. 1.50 crore to expand its capacity, generate employment, and expand its product line.

It now has roughly 300 pieces in its product basket, which are divided into three key categories: athleisure clothing, sportswear, and sports accessories. It is now expanding its product line to include performance apparel.

"A large product basket automatically draws more clients," says Rohit Ahuja, the firm's Director. "Adding new items is really crucial." We chose performance clothing since it is a category in which we excel and where we also have customers. Sportswear, in particular, has shown strong growth in recent months.

To keep costs down, Rohit said he sought to make as much as possible in-house, with extra effort; for example, he added, glue is being developed in-house for seamless clothing.

"Common market concerns don't matter much because they are the same for everyone, and the market grows acclimated to them over time." Individual efforts are also very important. We were able to take advantage of the ATUF plan because of our proactive and progressive strategy.

Working in a systematic manner also aided us. The cash constraint will take precedence, but we must handle it," adds Rohit, who anticipates 25% growth following this expansion. The company, which has its own brand and a robust dealer network, also works with other well-known companies.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

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

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

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

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

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06 January 2022, Mumbai:

Textile enterprises continue to expand despite several hurdles! Sanathan Textiles is another company that is planning to go public (Initial Public Offering). The Mumbai-based firm, which makes cotton yarns, polyester yarns, and technical textile yarns, is looking to fund between Rs. 1,200 crore and Rs. 1,300 crore.

The corporation, on the other hand, has yet to make an official remark on the subject. According to media sources, the IPO would include both a new issue and a sale of existing shares.

The business is set to file a draught red herring prospectus with the Securities and Exchange Board of India (Sebi) this week. Sanathan Textiles increased its margin to 17.8% in the first half of the 2022 financial year, according to India Ratings and Research, a market research firm.

The firm also offers a 'Revir' brand of recycled textile products and a 'Born Dyed' line of eco-friendly colour polyester yarns, as well as custom-made functional and personalised yarns.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

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

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

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

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

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05 January 2022, Mumbai:

Indian garment imports have continued to rise, reaching US $ 920.91 million from January to October of this year, according to the Ministry of Commerce and Industry. Imports have increased by 28.84 percent, indicating a resurgence in demand for knitted garments.

Imports of knitted garments declined by 30.52 percent Y-o-Y to US $ 288.91 million in the January-October 2020 period, but imports increased by 53.94 percent to US $ 444.74 million in the same period in 2021.

The import value of knitted clothing exceeded the pre-pandemic level, according to Apparel Resources.

Knitted garment imports totaled $415.83 million in the first ten months of this year. Imports of woven clothes, on the other hand, increased by 11.82 percent year over year to $476.17 million in Jan.-Oct. '21.

The increase rate was insufficient to surpass pre-pandemic levels of woven garment imports, which totaled US $ 556.50 million.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

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

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

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

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

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07 January 2022, Mumbai:

Kankatala Sarees has introduced its first fusion wear collection with its first range of lehengas in 78 years. Twenty-five lehengas are included in the new collection, all of which are handwoven in genuine gold zari.

The firm revealed in a press statement on January 7 that each lehenga, choli, and dupatta set honours handlooms from weaving clusters around India, including Paithani, Kanchipuram, and Bandhani, among others.

The collection costs between Rs 1.5 lakh and Rs 6 lakh ($2,018). From January 10 to 11, the range will debut with an unique exhibit at the brand's 'Queens of Kankatala' shop in New Delhi. Kankatala Sarees' outlets in Andhra Pradesh, Telangana, and New Delhi, as well as its dedicated e-commerce store, would thereafter debut the collection.

In a statement, the firm said, "The edition is an artistic manifestation of Indian weavers where the variety of India's rich culture is embraced harmoniously." "Three distinct handloom techniques from three separate states combine to create a wearable marvel that is a rare occurrence."

Kankatala Appalaraju founded Kankatala Sarees in 1943, and the company presently has 13 physical locations. The firm is now managed by three brothers from the Kankatala family, and the brand attempts to combine current saree trends with traditional workmanship.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

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

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

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

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

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06 January 2022, Mumbai:

Amazon Seller Services saw its operational revenue increase by 49 per cent in the financial year 2021. Another of Amazon’s businesses operating in India, Amazon Wholesale, significantly scaled down its business in the country in the past few years in response to tighter government foreign direct investment regulations.

Amazon Wholesale saw its operational revenue drop 70 per cent in fiscal 2020 but only a seven per cent drop in financial year 2021 indicating stabilization of business.

Moreover, Amazon Wholesale reported a profit of Rs 46 crores in the financial year 2021 compared to a loss of Rs 132 crores in the financial year 2020. Offering marketplace services has significantly contributed to Amazon’s growth in India.

Amazon India reported revenue of Rs 7,555 crores from offering marketplace services in the financial year 2021 compared to revenue of Rs 4,949 crores in the financial year 2020.

Amazon now has over 10 lakh sellers on its platform. Over 90 per cent of sellers are local small and medium businesses and over half of these sellers on the marketplace come from tier II and III cities. Over one lakh are local offline retailers and neighborhood stores that have been on boarded on the Amazon marketplace.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

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

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

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

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

Return to homepage

05 January 2022, Mumbai:

Kerala's Kitex Garments Ltd., the world's second largest infantwear producer, has also had positive quarterly performance. The firm has provided an update for the quarter ending December 31, 2021, stating that overall revenue for the period was Rs. 205 crore, up from Rs. 121 crore the previous year.

The revenue of the firm climbed by 69%. Furthermore, overall income for the first three quarters of FY21-22 was Rs. 547 crore, compared to Rs. 353 crore the previous year. Revenue increased by 55% in these three quarters.

Notably, Indian clothing has recovered, with exports of $8.22 billion in the first nine months of current fiscal year, up 35% from $8.22 billion in April-December 2020.

With a market capitalization of over Rs. 1,200 crore, the major exporter employs over 5,500 people and collaborates with prominent brands and stores such as Walmart, Target, and Amazon.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

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

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

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

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

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07 January 2022, Mumbai:

With newly minted billionaires emerging in India, luxury fashion and lifestyle consumption landscape in the country is slowly taking shape, says Darshan Mehta, Managing Director, Reliance Brands.

He says, the luxury sector in the country is seeing a surge in revenue shopping as more number of fully vaccinated people especially in urban areas is stepping out of their homes. Revenge shoppers represent customers likely to become repeat buyers over the next few years, he adds.

Market getting habituated to international shoppers

Mehta points out, India’s luxury market has become habituated to the well-heeled international traveller and shopper, now getting used to the domestic market in the past one year. These shoppers have discovered prices in the domestic market are comparable to international market.

Also, shopping in domestic market offers them personalized, welcoming and warm experience, not available in the Western shopping arena. These factors are helping to convert die-hard international shoppers into first time Indian ones, who now swear by the joys of shopping in India, opines Mehta.

The pandemic has also raised morality values amongst consumers and has led to a surge in demand for timeless luxury products especially for gifting during weddings. After a hiatus in 2020, the Indian wedding market is back with a bang, making it difficult for Indian designers to cope with scope of business.

Ease of availability fuelling luxury gifting

The luxury gifting market is especially booming with restrictions on all other spends set aside for weddings including number of guests and the size of the event. The easy availability and accessibility has raised consumption of luxury products in the country.

Benefitting from the booming economy, young professionals are diverting their savings into luxury purchases. Internet commerce has made loads of rich and aspirational consumers in the country.

E-commerce driving luxury purchases in the country

E-commerce is fuelling luxury consumption in the country. It is also limiting luxury shopping of customers to their domestic and international travels. Innovative sale channels such as distance selling are gaining importance enabling customers to buy expensive and good quality products.

Early buyers of luxury products are transforming into customers who are now more about confident of themselves and value true luxury.

These customers view luxury as being unique and timeless and a true expression of their own individuality.

Currently, there are around 10 million ready and habitual consumers of luxury with another 25 million increasingly getting addicted to luxury shopping. These consumers are making India an epicenter of global luxury stage, Mehta concludes.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

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

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

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

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

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06 January 2022, Mumbai:

PowerSutra reinvents conventional formal fashion and captures the essence of power dressing for women who want to channelize the boldness in their personas and reflect a school of thought that emanates confidence.

Bringing sustainable and affordable fashion solutions to the table, the brand has yielded an option for customization of outfits for all sizes from XXS to 15Xl and lets women curate an outfit. From corporate wear and business casual attire to party dresses and also skirt suits, Power Sutra holds a diversified catalogue offering a suitable outfit for each occasion.

As more and more Indian women are making strides in the corporate sector, PowerSutra is striving to push the concept of power dressing to the Indian mainstream fashion. With a model centered around unique customer-first approach, the clothing brand ensures a high degree of personalization.

PowerSutra produces clothing solutions for women of all body types, shapes, sizes, and physical abilities. The brand thus challenges the unrealistic beauty standards imposed by society on women. Each fabric is created to be an extension of its user’s personality, customized towards individual taste and therefore unique.

In a world with a diverse collection of human beings, PowerSutra believes the fashion industry should be more inclusive.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

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

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

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

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

Return to homepage