27 January 2025, Mumbai

To commemorate its 25th anniversary, Indian fashion designer Sabyasachi Mukherjee organized a grand runway show in Mumbai. Showcasing a collection that aimed to strengthen the label’s position as ‘India's first global luxury brand,’ the star-studded event was attended by Bollywood celebrities, industry icons, and international fashion luminaries. It featured over 150 looks blending Indian heritage and Western silhouettes.

Designed in Kolkata with globally sourced materials, the collection marked a shift for Sabyasachi, known for his opulent bridalwear. This move signaled the brand's ambition to expand its international presence. Mukherjee has already opened a flagship boutique in New York and forged partnerships with renowned retailers like Bergdorf Goodman and Saks Fifth Avenue.

A tribute to Kolkata, the show featured a captivating set inspired by the city's streets, reflecting Mukherjee's signature blend of decadence and immersive experiences.

In 2021, Aditya Birla Fashion and Retail acquired a majority stake in Sabyasachi, valuing the business at around $90 million. With an upcoming launch of beauty and fragrance lines and projected revenues of 500 crore rupees this year, Sabyasachi is poised for continued growth and global dominance in the luxury fashion market.

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27 January 2025, Mumbai

The National Institute of Fashion Technology (NIFT) is pioneering a revolution in the Indian fashion industry with the launch of VisionNxt, India's first AI and EI-driven fashion forecasting platform. This groundbreaking initiative, supported by the Ministry of Textiles, was officially unveiled at a promotional event held on January 8, in Mumbai.

The rise of AI and Emotional Intelligence (EI) technologies, combined with the growing availability of data, has opened new possibilities for fashion forecasting, enabling more precise and informed predictions. In India, the unique and complex nature of the fashion market highlights the need for localized insights tailored to its specific demands. Additionally, the increasing consumer focus on sustainability and ethical fashion is pushing businesses to adapt their practices to meet these evolving expectations. VisionNxt promises to transform the Indian fashion landscape by providing designers, brands, retailers, artisans, and weavers with the tools and insights they need to stay ahead of the curve.

VisionNxt objectives

Empower the fashion industry: VisionNxt aims to equip stakeholders with cutting-edge trend forecasting capabilities, enabling them to anticipate and respond to evolving consumer preferences.

Drive innovation: By integrating AI and EI, VisionNxt will provide a unique and comprehensive understanding of the Indian fashion market, fostering innovation and creativity.

Promote sustainability: VisionNxt will encourage sustainable practices by providing insights into responsible consumption and production patterns.

Enhance global competitiveness: By providing access to global trends and best practices, VisionNxt will help Indian businesses compete more effectively in the international market.

A cutting-edge platform VisionNxt is dedicated to redefining trend forecasting and innovation in India's fashion and retail market. At its heart lies the VisionNxt प्रयोगशाला, a research lab driving groundbreaking studies and insights for the industry. The flagship Paridhi 24x25 bilingual trend book serves as a visionary guide to emerging trends shaping fashion and lifestyle sectors. An Indigenous AI Deep Learning Model powers the platform, analyzing vast datasets to identify new trends with precision.

To empower industry professionals, VisionNxt will collaborate with NIFT to conduct workshops and seminars on integrating AI and Emotional Intelligence (EI) into fashion forecasting. It also offers consultancy services to help businesses develop data-driven strategies and understand consumer behavior deeply. Academic integration is another key aspect, with NIFT incorporating VisionNxt into its curriculum through courses on trend forecasting and fashion technology.

The platform leverages advanced AI-powered tools like image recognition and predictive analytics to decode consumer preferences, design patterns, and age-group trends. Its extensive dataset, featuring over 70,000 primary apparel images and 280,000 secondary images, enables a detailed analysis of key apparel attributes, providing unparalleled insights for the industry.

Industry impact

VisionNxt is set to transform the fashion industry by driving up efficiency through optimized design, production, and marketing processes, ultimately reducing costs for businesses. By offering access to extensive data and insights, it will foster enhanced creativity and inspire new ideas. The platform equips Indian businesses to compete more effectively in the global market by providing the tools and knowledge needed to stay ahead of trends, while also promoting sustainable growth through insights into responsible consumption and production patterns.

Additionally, VisionNxt democratizes trend forecasting, making it accessible to small-scale artisans and weavers, and bridges the gap between traditional craftsmanship and modern market demands, ensuring a harmonious blend of tradition and innovation.

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27 January 2025, Mumbai

The National Company Law Appellate Tribunal (NCLAT) has nullified aRs55,000 penalty imposed on the Committee of Creditors (COC) for Mudra Denim. The Mumbai bench of the National Company Law Tribunal (NCLT) had earlier imposed the cost on November 11, 2023, citing delays in the insolvency process.

The COC, led by IDBI Bank, challenged the penalty, arguing that the decision to liquidate Mudra Denim was made on December 13, 2023, well within the Corporate Insolvency Resolution Process (CIRP) timeline. E-voting for appointing a liquidator concluded on January 5, 2024, and the application was filed on February 9, 2024.

Acknowledging these facts, NCLAT ruled that there was no laxity by the COC and set aside the penalty. Under the Insolvency & Bankruptcy Code, CIRP must be completed within 330 days, including any litigation or extensions. This decision reinforces the adherence to procedural fairness in insolvency cases.

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27 January 2025, Mumbai

Bengaluru's transformation into the epicenter of fashion and fashion tech in India is undeniable. This shift is due to a combination of factors, including a thriving tech ecosystem, a large pool of skilled talent, the presence of major e-commerce players, and a growing consumer market. The recent relocation of H&M's India headquarters from Delhi-NCR to Bengaluru further solidifies this trend.

H&M's headquarter shift

H&M's decision to move its headquarters to Bengaluru is a strategic one, aimed at tapping into the city's strengths. Bengaluru boasts of a robust e-commerce and fashion tech ecosystem, crucial for H&M's growth in the Indian market. What’s more, the presence of major e-commerce platforms like Myntra, Ajio, Flipkart, and Meesho provides H&M with a strong online presence and access to a vast customer base.

The city is a also magnet for young professionals, offering a diverse and skilled workforce that is essential for the fashion industry's growth. This talent pool includes designers, marketers, data analysts, and tech professionals who can contribute to the success of fashion businesses. Perhaps this is the reason why major fashion retailers have major based in the metro.

For example, Myntra, a Walmart-owned company is headquartered in Bengaluru. It has leveraged the city's tech talent and vibrant fashion scene to become a dominant player in the Indian e-commerce market. It has successfully integrated technology into its operations, offering features like virtual try-ons and personalized recommendations. Similarly, Reliance's Ajio, another major e-commerce platform based in Bengaluru, has quickly gained popularity with its wide range of fashion products and focus on fast fashion. Its data-driven approach to understanding consumer preferences has allowed it to cater to the evolving demands of the Indian market.

Bengaluru's advantages

Several factors contribute to Bengaluru's emergence as a fashion hub.

Vibrant consumer market: Bengaluru has a large and fashion-forward consumer base, with a high disposable income and a willingness to experiment with new trends. This makes it an attractive market for both established and emerging fashion brands.

Retailing and distribution centre: The city's well-developed infrastructure, including its extensive network of malls, retail outlets, and distribution centers, facilitates the efficient movement of goods and services. This makes it easier for fashion businesses to reach their target audience. For example, areas like Commercial Street, Brigade Road, and MG Road are known for their diverse retail offerings, attracting shoppers from all over the city.

Bengaluru's strong tech ecosystem enables fashion companies to gather and analyze data on consumer preferences, trends, and buying behavior. This data-driven approach helps them make informed decisions about product development, marketing, and inventory management. A study by Bain & Company found Indian consumers are increasingly relying on online channels for fashion purchases, with Bengaluru leading the way in online fashion adoption.

Bengaluru's unique blend of a tech-savvy population, a thriving e-commerce landscape, a strong consumer market, and efficient retailing and distribution channels positions it the ideal location for fashion and fashion tech companies. H&M's relocation is a testament to Bengaluru's growing prominence in the Indian fashion industry. As more companies follow suit, Bengaluru is poised to become the undisputed fashion capital of India.

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24 January 2025, Mumbai

The Indian apparel industry is facing a growing crisis as imports, particularly from China, Vietnam, Bangladesh, and Sri Lanka, continue to flood the market, triggering alarm among domestic manufacturers and industry stakeholders. According to data from the Indian Texpreneurs Federation (ITF), apparel imports surged to $1.08 billion between April and November 2024, with projections indicating a potential rise to $1.58 billion by the end of the fiscal year 2024-2025.

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Analyzing the numbers

"This trend is deeply concerning," remarks Prabhu Dhamodharan, convenor of the ITF. "Our domestic manufacturers have the capacity and expertise to meet the demands of the Indian consumer. These imports not only stifle our industry's growth but also jeopardize job creation."

Table: India's apparel imports ($ mn)

Source: Indian Texpreneurs Federation (ITF)

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Indeed the influx of imported apparel poses significant challenges for Indian manufacturers, including loss of market share, intensified competition leading to potential job losses, and disincentives for investment in technological advancement and expansion. To remain competitive, domestic manufacturers may be compelled to reduce prices, which could impact profitability.

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Strategic responses and policy recommendations

Industry leaders advocate for collaborative action and policy interventions to mitigate the impact of rising imports. Suggestions include increasing import duties to enhance the price competitiveness of domestic products, promoting 'Made in India' campaigns to boost consumer confidence in local brands, and streamlining regulations to facilitate ease of doing business for Indian manufacturers.

"By strengthening partnerships between manufacturers and retailers," emphasizes Dhamodharan, "we can build resilient supply chains that reduce dependence on imports and elevate the stature of Indian-made apparel."

Table: Categorywise imports

Drawing parallels with the successful transformation of India's footwear industry through initiatives like 'Make in India' and the Footwear Design and Development Institute (FDDI), experts highlight the potential for similar strategies to bolster the apparel sector's competitiveness.

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Policy interventions can help. One way is by increasing import duties, as higher tariffs on imported clothing could make them less price-competitive. Promote ‘Made in India’ campaigns to encourage consumer patriotism and highlight the quality of Indian-made apparel.

Streamlining regulations, reducing bureaucratic hurdles, and creating a more conducive environment for domestic manufacturing are the other ways to intervene. Invest in skill development and enhance the skills of the Indian workforce to improve productivity and competitiveness.

As India navigates the challenges posed by growing apparel imports, proactive measures are essential to safeguard the interests of domestic manufacturers and sustain the industry's growth trajectory. By fostering innovation, enhancing competitiveness, and promoting quality, India can secure a stronger foothold in the global apparel market.

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27 January 2025, Mumbai

Fashion and clothing dominated leasing activity in the Indian retail market in 2024, with the sector accounting for 37 percent of the 1.2 million square feet of retail space leased in H2, FY24.

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As per a report by CBRE, key players like AMIRI, Aquazzura, and Foot Locker entered the market during the year, while luxury brands like Maison Margiela and Charles Tyrwhitt expanded their presence. The direct-to-consumer (D2C) sector also saw strong growth, contributing around 7 percent of leasing activity.

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Bengaluru led the way in space absorption, followed by Hyderabad and Delhi-NCR.

As per CBRE, India remains a major market for international retailers as Carrefour re-enters the market through a partnership with Apparel Group.

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Retail leasing in the country will continue to be driven by strong demand from sectors like mid-range fashion, value clothing, athleisure, etc., predicts the report.

Around 5-6 million sq ft of Grade A malls are expected to open in 2025, with supply in major cities like Delhi-NCR, Hyderabad, Mumbai, and Bengaluru increasingly significant. 

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24 January 2025, Mumbai

Value fashion retailer, V2 Retail reported a 117.18 per cent increase in its Q3, FY25 net profit to Rs 51.19 crore as against Rs 23.57 crore profit recorded in Q3, FY23.

The company’s sales increased by 58.11 per cent to Rs 590.94 crore during the quarter ended December 2024 as against Rs 373.76 crore during the previous quarter ended December 2023.

A leading Indian retail chain, V2 Retail is known to offer a wide variety of trendy and fashionable apparel at affordable prices. The company has over 150 stores across 112 states and provides shoppers with an exceptional shopping experience, particularly in smaller towns and cities.

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27 January 2025, Mumbai

Driven by rising disposable incomes, evolving fashion preferences, and a growing desire for premium brands, the Indian men's luxury market Indian men's luxury apparel market is projected to grow at a CAGR of 3.4 per cent to reach $163.1 million by 2028, compared to $142.7 million in 2024.

As per a report by the Euromontior International, this growth is being fueled by increased brand awareness, economic growth, and changing consumer trends.

The demand for luxury menswear has been growing, and the trend is expected to continue, says Gopal Asthana, CEO, Tata CLiQ.

Global luxury brands incluidng Canali, Zegna, and Brioni have recently opened flagship stores in India, while brands like Corneliani are offering bespoke designs.

Today, Indian men are more aware of the latest trends, and also more open to spending a couple of lakhs on a suit, says Ritesh Kumar, Director, DS Luxury.

Ethnicwear brands are also capitalizing on this trend. Tarun Tahiliani and Rimzim Dadu have opened dedicated menswear stores, and Aditya Birla Fashion and Retail has launched Tasva, a contemporary men's ethnic wear brand.

With rising disposable incomes and a growing emphasis on personal style, the Indian men's luxury market is poised for continued growth in the coming years.

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24 January 2025, Mumbai

Leading Indian women's wear brand from Aditya Birla Fashion and Retail(ABFRL), W for Woman is set to make its debut at New York Fashion Week (NYFW) 2025. As the only Indian wear brand of this scale participating in the prestigious ‘Made in India’ segment, W for Woman will showcase its highly anticipated Spring Summer '25 collection on February 6, 2025 at the Sony Hall in Manhattan.

Endorsed by Bollywood superstar Anushka Sharma, the brand will present a collection that celebrates the rich cultural heritage of India while embracing a contemporary, global perspective. Models will grace the runway with designs that embody the modern Indian woman – deeply connected to her roots yet exuding a confident, international style.

Anant Daga, Chief Executive Officer -TCNS Division, Aditya Birla Fashion and Retail, affirms, this showcase exemplifies the brand’s dedication to fusing India's rich cultural heritage with contemporary fashion, making it resonate on a global scale. The label’s participation in NYFW underscores its belief in the strength and appeal of Indian fashion.

A celebration of India's diverse fashion legacy, the Spring Summer '25 collection offers a diverse range of options in everything from exquisite craftsmanship and innovative fusion wear to luxurious bridal ensembles. Each capsule within the collection tells a unique story, seamlessly blending traditional motifs with modern aesthetics to cater to a variety of styles and occasions.

W for Woman's participation in NYFW signifies a significant milestone for the brand and a testament to India's growing influence in the global fashion landscape. The brand redefines ethnic wear by positioning itself as a pioneer in contemporary Indian fashion on an international platform.

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