05 May 2023, Mumbai  

ShopClues, one of India's leading online marketplaces, has been facing a challenging time in recent months, with its revenue dropping by almost 50% in FY22.

This decline raises questions about the sustainability of its business model and its ability to compete in the fiercely competitive e-commerce market. The company's net loss also increased from INR 67 crore in FY21 to INR 82 crore in FY22.

The intense competition in the e-commerce market is one of the main reasons behind ShopClues' struggles. Larger players such as Amazon and Flipkart have dominated the market, making it difficult for ShopClues to attract new customers and retain existing ones.

Another factor contributing to ShopClues' challenges is its focus on selling low-cost products, which has limited its potential for growth. The company has also faced operational hurdles, including difficulties in managing its supply chain and logistics, and struggles with cash flow.

Despite these challenges, ShopClues has taken steps to address its operational issues and diversify its product offerings. The company has raised INR 100 crore in a recent funding round and remains committed to investing in growth initiatives.

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24 April 2023, Mumbai 

Myntra, a leading Indian e-commerce platform, has expanded its licensed brand portfolio by acquiring the distribution and management rights for popular UK-based fashion brands French Connection and FCUK.

The move is part of Myntra's strategy to cater to premium shoppers in India and boost its presence in the country's fashion market.

Under the partnership, Myntra will exclusively design and distribute French Connection and FCUK products in India. The brands will cater to men and women and offer a range of apparel including t-shirts, shirts, jeans, tops, and dresses. Myntra will support the wholesale distribution of the brands through independent third-party franchise partners and authorized distributors.

The partnership will allow French Connection and FCUK to access Myntra's growing consumer base, which includes Gen Z and Millennial audiences. Myntra has previously collaborated with other international fashion brands such as Mango, H&M, and Nautica to distribute their products in India.

French Connection and FCUK will launch an online store on Myntra and will have a significant presence across the platform's social commerce channels. The move is expected to help the brands establish a strong consumer base in India and boost their sales in the country.

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15 April 2023, Mumbai 

LetsDressUp (LDU), a fashion-tech startup, has introduced a new size chart, offering plus-size consumers affordable and stylish options without having to pay a "fat tax."

The startup, founded in 2019 by duo Dr. Drishti Anand and Aditya Balani, aims to address this issue by manufacturing clothes in small batches and curating pieces that are highly searched on the internet to avoid producing unwanted designs.

What all you need to know

LDU's size chart was derived from measuring over 3000 Indian women, offering a range of sizes from XS to 8XL. The company mainly offers ethnic clothing pieces such as kaftans, palazzos, and kurtis. It has in-house designers who curate the pieces, and the products are manufactured in small and medium-scale factories in India.

The startup recently launched "Blockbuster Friday," where new fashion products are released every Friday, providing consumers with various dressing options. The platform has seen approximately 8000 orders per month with a 25% retention rate and a 30% month-on-month growth rate. It has a revenue of Rs 10 crore and aims to reach the Rs 100 crore mark in the next 15 months with a gross profit margin of around 75% and looking to be EBITDA positive in the coming months.

LDU raised its seed round of Rs 2 crore from Titan Capital and marquee angels.

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 03 May 2023, Mumbai 

Myntra, one of India's leading fashion e-commerce platforms, has recently launched a new feature called 'Fwd' aimed at providing an immersive fashion experience for its Gen-Z customers. The company hopes to attract 10 million new Gen-Z customers to its platform within the next two years.

The Fwd feature includes a range of differentiated app-in-app experiences, including direct access to Gen-Z offerings, simplified trend-spotting-to-shopping, photo search, daily drops, and more. With Fwd, Myntra seeks to cater to Gen-Z's individualistic sense of style, diverse points of view, and core values that are steadily influencing global fashion consumption.

Myntra Fwd is not just a fashion destination; it's a holistic lifestyle experience designed especially for Gen Z. The launch marks Myntra's latest attempt to stay ahead of the competition in the fiercely competitive Indian fashion e-commerce market.

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 21 April 2023, Mumbai

Armour Heavy (AH), the brand, which was established in January 2022, intends to provide high fashion garments made from high-performance materials. In order to create a top-notch line of athletic clothing, AH plans to take advantage of the neighborhood environment.

The Indian Army, NSG, and special forces are the recipients of its premium tactical equipment sales. Also, AH is expanding its footprint in traditional retail to fill up any gaps in tier II cities where going shopping online is still not the first option.

Armour Heavy received a pre-seed funding for the performance clothing brand Rs 1.6 crore and was driven by India Accelerator. AH intends to use the capital to expand its operations, widen its internet audience, and improve research and development for upscale performance apparel.

The business reported that it made Rs 1.8 crore in total sales last year. It is currently valued at Rs 20 crore.

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12 April 2023, Mumbai 

The India in Fashion exhibition, currently underway in Mumbai, is showcasing the country's traditional dress, textiles, and crafts, and how they have influenced international fashion since the 18th century.

What all you need to know

The exhibition, curated by English fashion editor Hamish Bowles, opened on April 1 at the newly-opened Nita Mukesh Ambani Cultural Centre and was attended by some of India's biggest celebrities, fashion designers, and influencers, making it a grand affair.

The exhibition features ten sections with each having its own grand setting designed by multi-disciplinary artist Patrick Kinmonth in collaboration with Mumbai-based architect and designer Rooshad Shroff.

The exhibition is a blend of the past and present, showcasing Indian chintz, muslin, and other fabrics, and how they have been used in Indian and international clothing cultures.

The exhibition also highlights the journey of Indian textile and crafts traditions to the West, which has faced many socio-political and economic challenges. The exhibition showcases vintage gowns, traditional Indian ensembles, and contemporary Indian brands, demonstrating the impact of India on Western fashion and couture.

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 18 April 2023, Mumbai 

D2C brands are becoming increasingly popular due to the rise of e-commerce and social media. However, with intense competition, these brands need to stand out and capture their target audience's attention.

These brands have been able to leverage digital platforms to reach a wider audience and grow their businesses. However, with the growth of D2C brands comes intense competition and it's crucial for them to stand out by providing unique products, exceptional customer service, and a personalized shopping experience.

Adapting to changing market trends is also essential for D2C brands to remain relevant and successful. By quickly responding to consumer demands and preferences, D2C brands can stay ahead of the curve. For instance, if there's a shift towards eco-friendly products, D2C brands need to adjust their product offerings accordingly.

Building a strong brand identity and cultivating a loyal customer base are also critical for the long-term success of D2C brands. Effective marketing strategies, social media engagement, and value-added services such as free shipping and easy returns can help create a positive image and foster customer loyalty.

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07 April 2023, Mumbai 

Aditya Birla Group's fashion and lifestyle venture, TMRW, is set to offer stock options to its top executives as part of its efforts to retain and attract senior talent.

The direct-to-consumer platform, founded by Aryaman Vikram Birla, is also planning to recruit senior executives from startups and consumer firms. The move is aimed at driving aggressive growth and creating a 'House of Brands' by investing in online-born brands that draw a large part of their sales through the internet.

What all you need to know

The move comes after rival Tata Digital announced similar efforts to attract senior talent with long-term incentives, including stock options. TMRW has also been on an acquisition spree, acquiring a controlling stake in Bewakoof Brands and infusing ₹200 crores to fuel the growth of the D2C brand.

Within a year of launch, TMRW owns eight brands, including Berrylush, Bewakoof, Juneberry, Natilene, Nauti Nati, Nobero, Urbano, and Veirdo.

TMRW's equity plan was designed with the help of senior Aditya Birla executives who met with industry experts for six to eight months.

The company aims to create the largest portfolio of disruptor brands in fashion and lifestyle and be part of India's D2C growth story, estimated to be at $100 billion by 2025.

TMRW plans to acquire and incubate 30-plus innovative, customer-obsessed brands.

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27 April 2023, Mumbai 

Myntra’s Private Label Chief, Manohar Kamath, and Vice President Tribikram Mishra have left the fashion e-tailer. Kamath had been with Myntra for seven years and was instrumental in building the brand portfolio, which includes Mast and Harbour, Dressberry, and All About You.

What all you need to know

His departure follows a series of senior leadership changes at the company, including the appointment of CEO Nandita Sinha and the exit of former CEO Amar Nagaram.

Mishra has joined rollup commerce company Mensa Brands, run by former Myntra CEO Ananth Narayanan.

In addition to the recent leadership changes at Myntra, the company has also been expanding its offline presence. In 2017, under the leadership of Ananth Narayanan, the company had plans to launch multiple offline stores and increase the private label brands' contribution to the overall gross merchandise value (GMV) to 35-40%.

Myntra's Roadster brand, which was launched in 2012, has become the company's biggest private label, with a GMV crossing Rs 1,500 crore in 2022.

The company has also seen other high-profile exits, including Chief Financial Officer Ramesh Bafna and Chief of Marketing Harish Narayanan. Bafna has since joined Singapore-based fashion technology company Zilingo and recently announced joining quick commerce company Zepto as CFO.

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17 April 2023, Mumbai 

Nykaa Fashion, the online fashion retail arm of Nykaa, is gaining popularity among fashion-conscious Indian customers due to its focus on curation and trend-forward approach.

The CEO of Nykaa Fashion, Adwaita Nayar, believes in offering the best brands from across the country and the globe to Indian customers, as quoted in The Print.

What all you need to know

What sets Nykaa Fashion apart from other online fashion retailers is its emphasis on curation. Nykaa Fashion ensures that every product listed is of high quality, on-trend, and offers good value for money. The premium fashion platform has a dedicated process to actively de-list products every week, ensuring that only the best-curated products are available to customers.

Nykaa Fashion offers several exciting properties on its platform, including Hidden Gems and the Global Store. Hidden Gems is a property close to Nayar's heart as she travels across the country, discovers emerging labels and brands, brings them onto the platform, and gives them the attention they deserve. The Global Store, launched in September 2022, brings the best brands from around the world to Indian customers. Nykaa Fashion now offers brands from Turkey, UK, and USA on the platform.

The vision for Nykaa Fashion is to create a platform that provides all-round customer sustenance.

Nykaa Fashion's focus on curation, inspiration, and customer obsession is quickly making it the go-to destination for fashion-conscious Indian customers.

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05 April 2023, Mumbai

Ajio Street, the new marketplace from Ajio, is expected to offer a wide range of affordable fashion items including clothing, footwear, and accessories for men, women, and children.

The platform will reportedly follow a zero-commission model, which means that the sellers won't be charged any fees for listing their products or making sales through the platform. This move is likely to attract more sellers to the platform, thereby increasing its product offerings and giving consumers a wider choice.

The launch of Ajio Street is part of Reliance Industries' broader strategy to expand its e-commerce presence in India. The company has been aggressively investing in this space and has acquired a number of start-ups and established players to strengthen its position.

With the launch of Ajio Street, the company aims to capture a larger share of the online fashion market, which is expected to grow rapidly in the coming years.

One of the key advantages of Ajio Street is that it will be targeted at consumers in tier II-tier IV cities and towns, where there is a largely untapped market for online fashion.

By offering affordable prices and a wide selection of products, the platform is expected to attract new consumers who may not have shopped online before. This could lead to an increase in the platform's user base, which will in turn drive sales and revenue growth.

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