22 June 2022, Mumbai:

Apparel and lifestyle brand Cantabil Retail aims to be a Rs 1,000 crore revenue company over the next three years, says Deepak Bansal, Director. The retailer presently has 378 stores across the country and plans to add over 80 stores per year in future, adds Shivendra Nigam, Chief Financial Officer.

In last quarter, Cantabil Retail recorded sales worth Rs 133 crore. The brand also registered Rs 383 crore sales on an annual basis.

Cantabil’s profit after tax (PAT) was Rs 38 crore. Nigam told Economic Times, over the last year for many months, they recorded the highest sales and have the same plans for the company in future.

The brand is present across India except in South India. Its core presence is in North India, followed by Maharashtra, Gujarat and the Eastern part of the country. In future, it plans to expand across all three regions by adding over 80 stores this year. In all, it plans to add 300 new stores over the next three years.

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24 June 2022, Mumbai:

Skechers has signed an agreement with real estate developer Lodha for the project. The distribution centre will transform the brand’s current distribution facility into a technologically-advanced centre and expand its business in India in the next 5-7 years.

The distribution centre will be set up in two phases. In the first phase, around 660,000 sq ft will be made operational by mid-2023. The space will be utilized to ship up to 100,000 units of footwear, apparel and accessories per day. Additional 440,000 sq ft will be expanded in the next 3-4 years.

A frontrunner in technology, Skechers has always adopted a progressive mindset. The brand aims to grow its capabilities and strengthen its presence in India's sneaker market is pegged at $ 2.6 billion, and is expected to grow at 11 per cent Y-o-Y, says David Weinberg, COO.

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21 June 2022, Mumbai:

D2C tech-led house of brands Mensa Brands, which acquired the smart wearables brand Pebble last week, plans to leverage this acquisition to explore new products and categories besides expanding retail network.

The company also aims to invest in building its house of brands and streamlining operations, says Ananth Narayanan, Founder and CEO.

Expounding their growth strategy Naryanan says, the company will collaborate with popular brands having the right product-market fit. After acquiring these, it will focus on new launces, pricing, growth hacking and logistics, he adds.

Currently, the company has a portfolio of around 20 brands across fashion, home and garden and beauty and personal care. Its tech staff supports non-linear sustainable growth and provides real-time data that enables efficient decision-making.

Mensa Brands will also support its brands’ growth with technological innovations and digital brand-build capabilities besides maintaining their commitment to innovative design and affordable prices, Narayanan affirms.

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24 June 2022, Mumbai:

Japanese sportswear brand Asics plans to expand its store network by focusing on Tier II and III markets of India.

The manufacturer of performance footwear is expanding local sourcing and has begun selling Made in India products at the stores. Rajat Khurana, Managing Director, Asics India, and South Asia says, the brand plans to open around 12 stores by this year-end.

Over the months, its footfalls have surged past pre-pandemic levels with performance footwear and apparel categories driving sales. Around 35 percent of the brand’s sales are coming from Tier II and III markets, he adds.

Asics is also revamping stores in line with the new global retail concept that aims to provide shopping experiences with a strong focus on innovation, creativity, and sustainability.

The footwear major expects to comply with the norm for 30 percent mandatory local sourcing over the next 4-5 years to be able to open a few large-format company-owned stores in the country under the single brand FDI policy.

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21 June 2022, Mumbai:

The revenue of Manyavar owner Vedant Fashions is expected to rise on an average of 20 percent during the three financial years from FY 2022-25. Growth will be driven by steady return ratios, FCF generations, and the scaling of new brands.

Largest Indian wedding and celebration wear player, Vendant Fashion is well-known for Manyvar range of men’s wedding and celebration wear.

The brand has steadily expanded its share of the men’s celebration wear market, offering huge growth opportunities for Vedant Fashions.

Growth is driven by franchisee-operated EBOs. The company had 595 EBOs as of March 2022 covering 223 cities and towns in India as well as 12 international locations.

It enjoys strong relationships with vendors as well as 300+ franchisees who invest in the EBOs. Flagship brand Manyavar constituted 84.2 percent of sales in FY2021.

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23 June 2022, Mumbai:

Making its third attempt to enter China, renowned US apparel retailer Forever 21 plans to launch a new bricks-and-mortar store in the country by June end.

As per an Apparel Resources report, the fashion retailer will open its physical store at the Jingjiang Impression City shopping centre in Taizhou. The brand tried to re-enter China last year by selling exclusively online through platforms such as Vipshop and Pinduoduo.It also launched a store on Alibaba’s Tmall marketplace.

Founded in 1984, Forever 21 sells accessories, beauty products, home goods and apparels for women, men and children. The brand is a fashion retailer of women's, men's and kids clothing and accessories and is known for offering the hottest, most current fashion trends at a great value to consumers.

In July 2016, Aditya Birla Fashion and Retail acquired the exclusive online and offline rights to the India network of Forever 21. The brand reaches out to customers in over 300 towns and cities of the country to meet the aspirations of the fashion conscious women and men.

It is one of the most searched brands online and occupies a unique position in the fast fashion space.

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18 June 2022, Mumbai:

US Polo Association is offering the widest assortment across its dominant categories like shirts, polo T-shirts, jeans, etc at the current16th End of Reason sale on Myntra. As per a Times of India report, the brand went live with over 400 collections. It curated a range of unique offerings across 1,800+ styles for consumers and is also offering over 900+ styles of footwear and more than 100 styles of innerwear and comfort wear.

Myntra’s flagship event, the EORS (End Of Reason Sale) offers a one-of-a-kind opportunity for shoppers to explore some of the finest brands out there, in addition to its unique loyalty program benefits, value offers, and so much more. Brands enjoy multiple benefits of partnering with the platform as Myntra’s technology enables them to connect with their consumers online, as well as through the Omni-channel model. In addition to these, propositions like Myntra Insider, M-Live and Myntra Studio, etc., help the brands leverage these platform solutions, to create more engagement and excitement with their consumers on the platform.

US Polo Assn is one such brand association with Myntra that has delighted shoppers with classic essentials like T-shirts, denim, trousers, innerwear, kidswear, etc. In the 16th edition of Myntra’s EORS, US Polo Association made a splash as the title sponsor of the event.