01 November 2021, Mumbai:

Snapdeal has recruited Ullas Kamath and Anisha Motwani as directors. FMCG veteran Ullas Kamath is the joint managing director of Jyothy Labs. Brand expert Anisha Motwani has worked as a World Bank consultant on the Swachh Bharat Program, Solar Rooftop Adoption, and the National Mission for Clean Ganga.

The e-com major is considering filing a draft red herring prospectus in the next few months, joining a growing list of startups preparing to tap capital markets as the nation’s digital economy booms. Founded in 2010, Snapdeal is India’s leading value e-commerce platform that has over the years helped Indian e-commerce grow beyond just brands and urban users.

Nearly 80 per cent of Snapdeal’s users come from non-metro locations highlighting its deep reach across the length and breadth of the country. It hosts a wide selection of good quality, value-priced merchandise across fashion, home, beauty and personal care, general merchandise, and other categories. With more than 200 million app installations, it is one of the top online shopping destinations in India.

Snapdeal’s fashion sales grew by 210 per cent in the first six months of 2021. The growth was driven by users replenishing their wardrobe to meet work-from-home clothing needs.

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29th October 2021, Mumbai:

The Indian consumer and retail sector is all set to bounce back strong with e-commerce gaining a stronghold in the post-Covid-19 world, says a Grant Thornton Bharat survey.

Increased consumer confidence and heightened optimism are backed by a mass vaccination drive, better spending capacity, and an uptick in economic activity. Consumers are increasingly engaged in both digital and physical touch-points to make informed decisions.

Clothes and accessories (28 percent) and mobile phones (25 percent) have the highest share of the pie in items people prefer buying online. There is a preference toward buying luxury branded products online, hinting at the level of trust that these e-commerce portals hold. Businesses may need to adapt to such a buying shift rather than chase new store openings for driving sales.

An increasing number of consumers are becoming environmentally conscious and socially responsible. There is a great opportunity for local manufacturers, as people are more attracted to locally sourced products.

As many as 62 percent of the respondents said that mentioning the country of origin of a product would impact their buying decision. So companies need to now spend a higher share of their budget on products that don’t or least harm the environment.

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2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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01 November 2021, Mumbai:

India's handicraft exports increased by 60% to Rs 15,996 in the first nine months of the current fiscal year, according to the textiles ministry. From October 29 to 31, the ministry hosted the 52nd edition of the IHGF-Delhi Fair - Autumn 2021 at the India Expo Centre & Mart in Greater Noida.

Handcraft exports are expected to increase in the next six months of the current fiscal year, according to the ministry. "It's encouraging to see the physical display going place at a time when the world's largest immunisation campaign is in full gear."

This will provide exhibitors and buyers the opportunity to meet in person and do business.

In a statement, Union Minister of Commerce, Industry, and Textiles Piyush Goyal stated, "The event will pave the way for bigger and better editions of the fair in the near future, and in the process, encourage increased exports of handicrafts from India."

"I congratulated the handicrafts category for contributing to an excellent export rise of 60% during the first six months of 2021-22, notwithstanding the obstacles and hurdles encountered by exporters throughout the pandemic's two years,"

Textiles Secretary U P Singh remarked. More than 1,500 exhibitors and pre-registered buyers from 90 countries attended the IHGF-Delhi Fair - Autumn 2021.

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28th October 2021, Mumbai:

For the second quarter, Arvind’s revenue from operations rose 62.05 percent. The textile manufacturer’s total expenses increased 53.19 percent; revenue from textiles was up 70.69 percent while advance material was up 60.49 percent.

Volumes grew across all segments as post-Covid-19 demand stayed strong in both export and domestic markets. Input costs continued to increase sharply but were mostly offset by improved price realisation and higher efficiencies.

Arvind is one of the largest textile companies in India. This year is likely to see demand growth as retail and distribution pipelines are running low on inventory. The company’s sampling process moved online and sets the company up for a much speedier response to the market. The company is also investing in blockchain-based solutions to improve the traceability of inputs.

The financial year 2021 was a challenge for Arvind’s core textile and apparel businesses. There was a sharp reduction in demand across all markets especially in the early part of the financial year. However, as countries learn to live and cope with Covid-19, many export markets have started to resume. By the second quarter, several of Arvind’s export customers had started placing orders, partly driven by their online demand.

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1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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30th October 2021, Mumbai:

The recent pilot release of Textile Exchange’s Electronic Trackit ‘eTrackit’ programme – a digital 1st system for nuanced & credible traceability driven by innovative & ingenuity led technologies applied to 'Textile Exchange Standards' within this sector.

This has been a culmination of year-long rigorous concerted & collaborative development between two global companies of immense repute & fame, Textile Exchange and TextileGenesisTM.

Official sources are indicative of the fact that" The pilot program is poised to be unveiled in November 2021 at Textile Exchange’s already announced an annual global conference in Dublin, as contemplated its phase-I is envisaged to concentrate on the acclaimed, Global Recycled Standard (GRS) and widely entrenched & accepted (RCS) the Recycled Claim Standard.

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1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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22nd October 2021, Mumbai:

The Confederation of All India Traders (CAIT), a trade organisation, has written to Prime Minister Narendra Modi, requesting his action in the country's e-commerce transgressions.

CAIT has also requested a meeting with the Prime Minister to address the country's e-commerce and retail trade industries.

“It appears that the rules of the country have succumbed to these companies, which is the root cause for their arbitrariness in e-commerce business without any fear of law or the rules, and it is a pity that there is no mechanism to rein them in,”

CAIT national president BC Bhartia and secretary-general Praveen Khandelwal wrote in a letter to the PM.

"On the complaints filed by the traders, the Competition Commission of India (CCI) has initiated only ceremonial proceedings," the letter continued, "and the slow pace at which the investigation is proceeding, the traders of the country are not satisfied with it, and there is absolutely no hope of any fruitful result."

CAIT has accused various sectors and government organisations of unfairly shielding the interests of foreign-owned enterprises, promising to expose them as quickly as possible.

Foreign-owned enterprises, according to the organisation, are breaking foreign direct investment restrictions and harming Indian businesses.

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1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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Footwear retailer Metro Brands plans to raise fresh capital of up to Rs 250 crore for opening 219 new stores under Metro, Mochi, Walkway, and Crocs brands.

The company follows a three-year plan to identify cities to set up new stores and cities to expand its presence, says Farah Malik Bhanji, Managing Director. Based on this plan, a detailed yearly plan is prepared.

The promoters and promoter group hold an 84.02 percent stake in the company. This includes a 30.2 percent stake held by the Aziza Malik Family Trust and 29.76 percent held by the Rafique Malik Family Trust. Investor RakeshJhunjhunwala holds little more than a 14 percent stake.

Besides raising fresh capital, the company will also have an offer for sale. As a part of this sale, the Aziza Malik Family Trust will sell up to 3,737,000 shares; Rafique Malik Family Trust 3,660,000; Farah Malik Bhanji 2,899,000, Alisha Rafique Malik 2,899,000; ZarahRafique Malik 2,899,000, Zia Malik Lalji 2,899,000; Sabina Malik Hadi 2,899,000; RakeshHridaynarayanPathak up to 8,100 shares.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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