01 May 2023, Mumbai 

Raymond, the textile major, is undergoing a significant transformation with the aim of preparing for the future.

What all you need to know

Raymond is planning to hire over 3,000 people in 2023, with a focus on strategic roles in management and technical talent in areas such as design, fashion, analytics, and AI, revealed K Narayan, President-HR, Raymond in Moneycontrol.

Raymond's new hiring strategy aims to bring in more women, with 50 percent of the new hires expected to be female. The company is also setting up a functional school to train employees in futuristic technologies and capabilities, especially around supply chain, design, and productivity in its manufacturing facilities.

While Raymond's gender diversity numbers were poor at the senior levels, Narayan emphasized the need to address this issue.

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Go Fashion India Ltd has announced its standalone financial results for the period ending March 31, 2023. The company's total income for the quarter was reported at Rs. 160.1987 crores, showing a decrease from the previous quarter's total income of Rs. 179.4283 crores. Similarly, the net profit for the quarter stood at Rs. 14.7759 crores, compared to Rs. 24.3138 crores in the previous quarter.

When comparing the financial results with the same quarter of the previous year, Go Fashion India Ltd demonstrated growth. The total income for Q4 FY2023 was significantly higher at Rs. 160.1987 crores compared to Rs. 119.4479 crores in Q4 FY2022. The net profit also showed an increase, reaching Rs. 14.7759 crores in Q4 FY2023 compared to Rs. 12.3008 crores in Q4 FY2022.

For the financial year ending March 31, 2023, Go Fashion India Ltd witnessed substantial growth. The total income for the year was reported at Rs. 677.1943 crores, marking a significant increase from the previous year's total income of Rs. 422.1069 crores. The net profit for the year reached Rs. 82.7982 crores, compared to Rs. 35.6008 crores in the previous year.

It showcased mixed financial performance in the latest quarter, with a decrease in total income and net profit compared to the previous quarter. However, when considering the year-on-year comparison, the company displayed notable growth in all key financial indicators, indicating positive momentum and potential for future success in the fashion industry.

 02 May 2023, Mumbai 

Raymond, a leading fashion brand in India, has launched its first exclusive store for traditional ethnic wear, Ethnix by Raymond, in Bistupur Main Road, Jamshedpur, in Jharkhand.

Ethnix by Raymond is a youth-centered traditional wear brand, catering to the demands of customers with unique and elegant designs at an affordable price range.

With a spread of 2300 sq. feet, the store offers a range of traditional wear. The store is designed with Indian art forms, showcasing a classy look with a lot of paintings that depict Indian art forms.

Raymond plans to launch more stores across the state, promoting fashion with togetherness and inclusivity. The brand offers a collection of ready-made ensembles with an accessory solution to make every occasion memorable. The categories include Sherwani, Indo Western, Bandgala, Bundi, Kurta with churidar, Jacket and Suits.

The Ethnix collection is designed with artistic combinations of Baroque and Mosaic themes, using embroidery or prints.

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29 April 2023, Mumbai 

Kewal Kiran Clothing Limited (KKCL), the company that owns brands like Killer, Lawman, Easies and Desi Belle, has reported its consolidated financial results for the period ended March 31, 2023. The company has posted a total income of Rs. 206.98 crores, up from Rs. 205.60 crores in the previous quarter, with a QoQ growth of 0.67%. The net profit for the same period stood at Rs. 31.49 crores, up from Rs. 26.90 crores in the previous quarter, with a QoQ growth of 17.06%.

On a YoY comparison, Kewal Kiran Clothing Limited's total income for Q4 FY2023 increased by 19.56%, from Rs. 173.12 crores to Rs. 206.98 crores. The company's net profit also rose to Rs. 31.49 crores from Rs. 24.74 crores, indicating a YoY growth of 27.28%.

For the financial year ended March 31, 2023, Kewal Kiran Clothing Limited's total income was reported as Rs. 799.67 crores, up from Rs. 624.63 crores in the previous year, with a YoY growth of 28.02%. The net profit for the financial year stood at Rs. 119.03 crores, up from Rs. 81.62 crores in the previous year, indicating a YoY growth of 45.83%.

The company's financial results have shown growth in QoQ and YoY comparisons, indicating a positive trend for the future.

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07 May 2023, Mumbai    

Macroman M-Series, a renowned lifestyle and fashion brand specializing in Innerwear, Athleisure, Sportswear, Thermal wear, and Socks, has announced its latest collaboration with superstar Yash, who will serve as the brand ambassador.

By teaming up with Yash, Macroman M-Series aims to leverage its star power to expand its customer base and reinforce its position as a leading lifestyle and fashion brand. The collaboration reflects the brand's ongoing commitment to delivering innovative and high-quality products that resonate with consumers.

Previously endorsed by popular actors Hrithik Roshan and Ranbir Kapoor, Macroman M-Series has established a strong presence both domestically and internationally.

Macroman is a brand owned by Rupa & Co. Ltd., which is one of the leading knitwear manufacturers in India. Rupa & Co. has a robust manufacturing infrastructure and operates multiple manufacturing units across India.

The company also has an extensive distribution network that allows its products to reach a wide range of customers across the country.

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02 May 2023, Mumbai 

Vedant Fashions, the parent company of ethnic wear brand Manyavar, has announced a 22 percent increase in net profit to Rs 109 crore for the fourth The rise in profit is a result of a 15 percent increase in revenue, which rose to Rs 342 crore in Q4 FY22 from Rs 296 crore in the same period of the previous year. The company's net expenses for the quarter also saw an increase of 12 percent to Rs 210 crore.

For the full financial year 2022-23, Vedant Fashions reported a revenue of Rs 1,355 crore, with a net profit of Rs 429 crore. During the year, the company opened 54 exclusive brand outlets, including four new stores in the USA, UAE, Canada, and the UK.

Vedant Fashions is a manufacturer, trader, and seller of readymade ethnic wear for men, women, and children in India, primarily under the brand names Manyavar, Mohey, Mebaz, Twamev, and Manthan.

The rise in profit and revenue for the company demonstrates the continued demand for ethnic wear in India and the success of the brand's expansion strategy, both domestically and internationally. quarter ended March.

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29 April 2023, Mumbai 

Mandhana Industries has partnered with Bollywood actor Akshay Kumar to introduce a new athleisure clothing brand, Force IX.

The brand has launched its first exclusive store in Khar, Mumbai, and its select athleisure line is now available on Myntra, a popular e-commerce platform. While athleisure wear will be the brand's primary focus initially, other categories will be added later.

What all you need to know

The company aims to open nine exclusive stores by the end of 2023 and expand the brand's footprint to over 200 stores across India in the coming years. The merchandise will also be available in other stores such as Shoppers Stop.

Akshay Kumar decided to launch Force IX together with Manish Mandhana, joint MD of Mandhana Industries, and his team, which owns ten production units and has over 4700 employees across different cities in India and Paris. This collaboration gave him the confidence to take this new venture forward.

Mandhana Industries had previously launched the Being Human apparel line co-owned by Bollywood star Salman Khan.

For every Force IX product sold, ₹9 will be donated to 'Bharat Ke Veer,' a trust supported by Kumar that provides financial assistance to the families of martyrs of the Central Armed Police Forces (CAPF). This initiative showcases the brand's commitment to social responsibility and giving back to the community.

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05 May 2023, Mumbai  

Nike, the American sports brand, has opened its latest concept store in Jaipur, Rajasthan, marking the second such store in the city. The new Nike store is fourth store in the city, located at Queens Road, Vaishali Nagar, offers a range of footwear, apparel, and accessories.

The store offers a bespoke range of high-performance footwear and apparel. The store is designed "For Her, For All" and boasts a product range encompassing everything from running and training to lifestyle products, all crafted with the utmost attention to detail.

Nike has been operating in India since 2005, and the brand has expanded its presence in the country with an extensive retail network. In addition to its stores, Nike also has a significant online presence through its website and other e-commerce platforms.

Apart from its retail operations, Nike has also been actively involved in promoting sports in India through various initiatives. The brand has collaborated with several Indian athletes, including cricketer Virat Kohli, to encourage more people to engage in sports and fitness activities.

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02 May 2023, Mumbai 

Azorte, Reliance Retail's premium fashion and lifestyle store chain, has expanded its reach by opening its sixth store in Pune, strategically located at the Pavillion Mall - one of the city's most popular shopping destinations. Spread over 25,000 sq. ft. of retail space, this new outlet is Azorte's first store in Pune, offering a wide range of apparel and accessories for women, men, and kids.

Launched in 2019, Azorte aims to provide a unique shopping experience to its customers by offering a carefully curated selection of high-end fashion and lifestyle products. In addition to apparel and accessories, the brand also offers beauty and personal care products, home decor items, and gifting options.

Azorte's expansion reflects the growing demand for premium fashion and lifestyle brands in India. With the launch of its sixth store in Pune, the brand is poised to capture a significant share of this market.

Currently, Azorte has stores in Mumbai, Delhi, Hyderabad, and Bangalore, and plans to expand further in the coming years by launching more stores in other major cities in India.

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26 April 2023, Mumbai 

Indians are no longer price-sensitive and are looking for quality products. The casualization trend among young Gen Z and millennials present a big market opportunity, particularly in women's fashion, according to the Indian office of iconic jeanswear brand Levi’s.

What all you need to know

Levi Strauss & Co, the American denim brand, is looking to expand its market in India by positioning itself as a one-stop apparel shop for young consumers.

The brand aims to become a holistic lifestyle apparel company by deepening its non-denim offerings, which is also part of its global strategy. Despite the move, Levi's will still focus on denim, as there is a largely untapped market for denim in India.

Asia, excluding China, led by India saw a 22% growth in net revenues for the company in Q1FY23.

Levi's historically had more male customers in India, the new positioning may help the brand to reach the next level.

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