26 May 2022, Mumbai:

India’s first subscription-based children’s clothing rental service, Little Clocks helps people live a more sustainable life by spinning their child’s closets.

The brand’s founder says Little Clocks provides parents with the option to get their child’s clothes in desired sizes whenever required.

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It allows them to dispose of garments easily without feeling guilty about throwing them away every few months.

The service was born out of the need for creating India’s first children’s clothing rental service for people looking for an eco-friendly choice when beginning a family.

The brand offers pre-owned clothes in excellent condition, with virtually no flaws, and in pristine condition in comparison to their original stage of manufacture.

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Little Clocks aims to assist parents to keep track of the costs and time spent on baby clothing.

The service is a strong advocator of circularity and aims to offer a solution to extend each garment’s life cycle without causing any harm to the environment.

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31 May 2022, Mumbai:

Despite Q4FY’22 earnings not being as expected, Nykaa remained upbeat about growth of consumer demand in India. The e-commerce company reported 71 per cent GMV growth and 55 per cent revenue growth during the year until March.

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Consolidated net profit of its parent company declined 57 per cent to Rs 7.57 crore during the fourth quarter ended March 2022, mainly on account of new investments.

Makeup, skincare, and haircare categories of grew 40 per cent, 50 per cent, and 60 per cent respectively.

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Since the company is looking to expand more into physical stores and new businesses, EBITDA margins are expected to remain constant at last year’s range.

While Nykaa’s Q4 earnings were operationally weak despite strong revenue growth, higher marketing expenses and investments in new businesses are hurting the company’s performance, says Anchit Nayar, CEO-Beauty E-commerce. The company will continue to expand its physical presence.

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27 May 2022, Mumbai:

The fourth quarter net profit of multi-brand, omni-channel beauty and fashion retailer Nykaa decreased by 49 per cent Y-o-Y as demand rose only slightly and expenses increased.

For the fourth quarter which ended on March 31, Nykaa’s net profit stood at Rs 8.56 crore. This e-commerce company has reported a profit of Rs 16.88 crore for the same quarter a year before.

Despite the drop in profit, Nykaa’s revenue from operations increased from Rs 741 crore in the fourth quarter of the 2021 financial year to Rs 973 crore in the fourth quarter of the 2022 fiscal. During the quarter, Nykaa launched new labels, including private label ethnic wear brand Likha on Nykaa Fashion.

The business also opened its 100th store in Bengaluru as well as a number of other brick-and-mortar outlets.

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Nykaa’s parent company FSN E-Commerce Ventures has seen declining profits in the three financial quarters following its initial public offering. The business has citied high marketing costs as a major reason for this, especially as its marketing costs were lower than usual in the 2020 calendar year due to the pandemic.

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23 May 2022, Mumbai:

Women’s fashion brand Bostreet has launched its first collection exclusively on fashion e-commerce platform Myntra with over 1000 styles.

As per *a Fashion Network report, the collection includes dresses, tops, co-ords, trousers, T-shirts, denims, skirts and shorts.

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It targets Gen-Z and early millennial shoppers to make inroads in the lucrative women’s fashion segment and expects its affordable prices to drive sales.

KunalAbhishek, the Co-founder, says, Myntra has a huge consumer base of young shoppers. This makes it an ideal launch platform for a fashion brand like ours.

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Bostreetaims to strike a perfect balance between inexpensive and stylish clothes for young buyers.

Bostreet primarily launched as Stargate Club in early 2020. The brand has revamped to cater to its new generation of consumers and launched its app and website recently.

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CREDITS:* A Fashion Network report

26 May 2022, Mumbai:

Beauty giant Nykaa’s fashion arm Nykaa Fashion will launch its ‘Biggest Sale Event of the Year’ in partnership with Bollywood celebrity Alaya F from May 26 to June 1.

*As per a Fashion Network report, the event will focus on brands to promote a large number of both Indian and international labels before the height of the summer season Nykaa has enlisted Alaya F to promote the sale event and she has filmed promotional videos for this effect.

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While the sale will offer discounts of up to 80 percent off, numerous brands will have a flat rate discount across all products and these will range from 40 percent to 60 percent. Brands participating in the sale will include Eridani, Lavie, Kazo, US Polo Assn, Na-Kd, Forever 21, Vero Moda, Biba, Puma, etc.

In order to boost customer engagement on its dedicated shopping app, Nykaa Fashion will also launch a range of games to enable shoppers to collect ‘offer coupons’ on the app.

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These can be exchanged for further discounts within the shopping app.

Nykaa Fashion is also adding international brands to its ‘Global Store’ with the aim of offering products from across the globe. It recently added women’s western wear brands Oxxo and Lipsy among others.

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CREDITS: *A Fashion Network report

19 May 2022, Mumbai:

Business-to-business product development and production management platform for fashion brands and manufacturers Fashinza aim to expand its domestic and international operations.

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The company recently raised $100 million (Rs 775 crore) in a Series B funding round led by Prosus Ventures and Westbridge.

Existing investors Accel, Elevation, DisruptAD along with angel investors Naval Ravikant, Jeff Fagnan, Jake Zeller, Nivi, and Nitesh Banta also participated in the funding round.

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Fashinza currently has over 250 manufacturers in India, Bangladesh, China, and Vietnam that serves over 200 brands across 6 countries, including the United States, Canada, UAE, and India.

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