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Welcoming the new CEO, Ashwani Windlass, Chairman – Bata India Ltd, stated: “I am delighted to welcome Gunjan on board as Bata India’s new CEO. Over the past few years, we have been consistently delivering strong growth in the highly competitive footwear market. Backed by decades of experience working with powerhouse brands, Gunjan understands the Indian market’s complexities and varied nuances. I’m confident that he will add value and strengthen Bata’s position in the Indian market.”
The sportswear segment in India, like many other fashion segments, is undergoing a remarkable change of perception as well as evolution. A noticeable change in the Indian sportswear industry is that it’s becoming increasingly organised; and modern retail is picking pace in small cities too, much to the delight of brands, suppliers and retailers of sportswear and sports lifestyle products.
The members of the FICCI FLO community comprise professional women who are on a journey of entrepreneurship. Many of these budding entrepreneurs are looking forward to expanding and grow their businesses with FLO’s help and support. Since its inception, FICCI FLO has been committed to connect, collaborate, and contribute to the changing lives of women working across different sectors.
The National Internet Exchange of India Domain Dispute Policy (INDRP) Arbitration Tribunal in New Delhi has ruled that Khadi is not a generic name and the Khadi and Village Industries Commission (KVIC) is the legitimate owner of the trade marks “Khadi”and “Khadi India”, according to a PTI report.
Jaypore, the omnichannel artisanal ethnic brand under the Aditya Birla Fashion and Retail Limited (ABFRL) umbrella, has extended into the menswear category with its first-ever range of kurtas, indie-wear, shirts and trousers made from natural and sustainable fabrics. With over 240 styles, Jaypore will now also offer ethnic and everyday essentials in apparel, bags and footwear for men.
Digital-only bespoke fashion brand The Pant Project (TPP) , launched in October 2020 as an entirely digital full-service e-tailor for custom-made men’s pants in India, has rolled out the PanT20 Collection, a range of cool, comfortable, breathable cotton chinos. The entire PanT20 Collection, like all pants on TPP’s website, is machine washable and easy to care for, making it the ideal choice for men who lead busy lives.
Within this context of fluid self-expression and exchange centered on experimentation, authenticity and conversation, Gen Z is also reimagining newness, according to the report. For them, it does not necessarily mean fresh off the press; nor does it signify new materials, additional manufacturing, or consumption in the traditional sense. In fact, this fluid newness can imply tapping into trends through archived or out-of-stock branded items. For Gen Z especially, newness also means one-of-a-kind vintage, repurposed or recycled fashion.
Western wear segment is growing at a rapid pace with 57% order volume growth in FY-2021 as compared to the previous financial year, and it accounted for 65% market share in FY-2021. Interestingly, the men’s apparel segment is the biggest contributor to the overall western wear segment and it accounted for 55% market share of overall western wear in FY-2021 and reported 40% order volume growth. The kid’s western wear segment reported a sharp order volume growth of over 300% and its market share increased from 3% in FY-2020 to 28% in FY-2021.
The retailer is reportedly in the process of hiring bankers for the IPO, which is expected to value the company at around USD1.5-2 billion. The share sale is aimed more at offering exits to existing investors, including private equity firm PremjiInvest, than raising funds for the company, sources said. The IPO will likely see the full exit of PremjiInvest, which owns nearly 25% of the company, according to sources.
Formal wear and jeans took a backseat in the wardrobe and the demand for items suitable for working comfortably from home saw an unprecedented surge. An April 2020 report by management consultants Wazir Advisors had predicted that loungewear will be one of the first categories to recover from the economic impact of the lockdown.
When asked to elaborate on the business model and innovations undertaken in light of pandemic pressures on the business, Narsinghani explained, “In our case, adding a digital team as a permanent element in the company was a strategic move. Even after the lockdown and pandemic is over, the team will remain an integral part. Adding more services and prospects on the digital and technological aspects made us more reachable to our consumers. With the help of digital technology, now I can do the developments online; by selecting the designs and producing the one which I understand will work. I can fit the product on the digital avatar today instead of looking or waiting for a model.”
A bootstrapped startup with an initial investment of just Rs. 1 Lakh in 2018. Today, the frenetic styles and vast range are recording a rise of revenue from 2018 till present by 800%. The company projects the expansion in next 3 to 4 years with targeted sales of Rs. 400 Crore+ ARR and employment expansion of 750+ nationwide followed by introduction of 50+ categories of products.
“The aim of the 18 month project is to create a greater link between textile sorters and textile recyclers; stimulating a recycling market for unwanted textiles that can generate new revenue streams for sorters. Traditionally, the sorting industry generates income through the sale of reusable textiles, with the remainder being downcycled, incinerated or landfilled. To achieve a circular system, a new end-market for non-reusable textile is required, with an infrastructure and digital matching system that can support activities of sorters and recyclers,”Katrin Ley, Managing Director, Fashion for Good said.
Facilitated by Fashion for Good, the consortium project is a collaboration with BESTSELLER and Kering with support from Zalando. BESTSELLER and Kering each contributed four garment styles, totalling around 23,000 product units which were cataloged and successfully tracked on the TextileGenesis platform. The garments, made with varying compositions; from 100% sustainable viscose – produced by Lenzing, ENKA and Tangshan Sanyou, to blends with generic fibres, were traced through 25 suppliers from seven countries; Austria, Germany, Italy, Turkey, India, Bangladesh, and China.
The new capital raised will be utilized for expanding the brands’ D2C footprint both domestically and internationally by adding more personalised solutions to proprietary web and app products and expanding brands’ presence with global eCommerce conglomerates. Apart from this, the company is also planning to boost its supply chain efficiencies by in-housing key production processes such as printing and embroidering, thus enabling a 30-day mind-to-market production turn-around, comparable to global fashion leaders such as Zara and Boohoo.
The effervescent player who is revered by the younger generation of the country is known for his passion, pace and performance, resonating well with the AISCS brand’s motive. With ASICS’ brand philosophy of enabling A Sound Mind in a Sound Body, this partnership lends itself naturally to propagate a healthier lifestyle in order to connect with the technologically and momentum driven consumers.