FAST FASHION RETAILER
Reliance's app, stores may soon sport Shein
Reliance Retail Ventures is gearing up to launch Chinese fast-fashion label Shein in India, a year after forming a strategic partnership with the brand. The retailer plans to sell Shein products on its app and offline stores. Former Meta director Manish Chopra may lead Shein's operations in India. Shein aims to reduce dependence on China and leverage India's supply chain. The platform and data will be hosted and controlled by Reliance Retail.
Fast fashion retailer Shein filed for London listing in early June, say sources
The Chinese-founded company, which was valued at $66 billion in a fundraising round last year, had started engaging with its financial and legal advisors to explore a listing on the London Stock Exchange early this year, sources told Reuters in May.
EU's ill-fitting suite for 'greener' norms
EU's Ecodesign Directive banning destruction of unsold textiles and footwear to establish sustainability requirements will impact Asia, where they are made. Fast fashion drives overproduction, affecting export earnings of Asian economies like India.
From phones to fries: Flipkart users may soon be able to order food via ONDC
Flipkart users may soon be able to order from various fast-food outlets and restaurants, such as Dominos and McDonalds, from Flipkart app. This development is noteworthy because the government started ONDC to counter the dominance of Amazon and Flipkart. Recently several top Flipkart executives met ONDC officials for the integration.
Temu will have to comply with tougher EU online content rules, EU says
Temu, a fast-fashion e-commerce retailer under the PDD Group, is required to comply with strict EU online content rules as a very large online platform (VLOP) under the Digital Services Act (DSA), facing penalties of up to 6% of their global annual turnover for violations.
New-age consumer brands trend on deal street
Uppercase–a luggage brand started by former VIP Industries MD Sudip Ghose–is in talks with Flipkart-backer Accel to raise new capital, sources told us. This would be the 3rd major deal in the space after Peak XV Partners’ Mokobara investment and Lighthouse’s bet on Safari.
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Myntra gained market share, scaling beauty and home decor: CEO Nandita Sinha
Over the past year-and-a-half, online fashion retailer Myntra has gained market share even as rivals like Reliance Ajio and Nykaa Fashion have snapped at its heels, chief executive Nandita Sinha told ET in an interview–without naming the competition.
Nikhil Kamath, Manyavar family office may join A91 in Rare Rabbit’s Rs 500 crore funding
Bootstrapped till now, Rare Rabbit clocked revenue of over Rs 600 crore in fiscal 2024, with an operating profit of more than Rs 100 crore, as per sources in the know. Along with Rare Rabbit, the brand's parent company Radhamani Textiles also owns women's premium fashion brand Rareism and everyday wear brand Articale.
Growth gets thinner for Zara as competition grows in size
Zara has been a runaway success since its arrival in the country more than a decade ago but after initially doubling sales every two years, the brand's rate of expansion had come down in the past few years. "The market is very competitive, and the challenges are real. Nevertheless, the opportunity pool and the size of the market means that there is space for multiple successful players. Trent remains well placed to navigate this next phase of growth by leveraging our platform and growth engines," P Venkatesalu, chief executive officer at Trent, said in the report.
Why it’s so hard to track the fashion industry’s emissions
The fashion industry, responsible for 2% of global greenhouse gas emissions, struggles to reduce its carbon footprint.
Lightbox Jewelry permanently reduces prices for lab-grown diamonds, starting at $500 per carat
De Beers Group's lab-grown diamond jewellery brand, Lightbox Jewelry, has announced a price reduction to $500 per carat for its Standard range of lab-grown diamonds. The move follows months of research and testing. The brand now offers three linear price points: $500 per carat for IJ colour stones, $600 per carat for GH colour stones, and $900 per carat for the highest quality DEF colour stones. All stones have a guaranteed minimum'very good' cut and VS clarity, with DEF stones featuring 'excellent' cut.
Shein steps up London IPO preparations amid US hurdles to listing
Shein pivots to a London IPO from New York, facing U.S. regulatory challenges. The online retailer, valued at $66 billion, navigates hurdles with plans for a dual U.S. listing post-London float, monitoring the political climate.
Fast-fashion giant Shein wants to sell skincare, toothpaste and toys, too
Known for cheap own-brand clothing and accessories, Shein is moving into other categories and has given brands and retailers access to its platform in nine European countries so far, having done so in the United States, Brazil, and Mexico last year.
Is hyper competition from Reliance Retail and Amazon over for them? 4 retailer stocks; 2 with an upside potential above 21%
Retail is one sector where even the best of the names of the India Inc have failed to taste success. It is not only the story in India, but globally. An industry where survival rate is not very high and the worst part, even after staying in business for decades, suddenly they go down under. Most prominent one which went down after years of existence is the Future group of companies. The players who have managed to survive, should better be bought back on the watchlist as there may be another round of re-rating when Reliance retail goes public.
Indian wear business slows down in times of fast fashion
Bestseller is closing its Indian ethnic wear brand Indifusion due to poor sales and shifting consumer trends. The company, known for western brands like Jack and Jones, bought Indifusion during the pandemic but struggled to understand and operate in the Indian wear market. The decline in traditional wear is part of a broader trend, with consumers increasingly choosing versatile, comfortable clothing for multiple occasions. Fusion wear, combining traditional and modern styles, is growing in popularity, driven by factors like the rise of the female workforce and fashion trends.
Inditex to launch Bershka and Zara Home in India this year
Inditex had launched fast fashion brand Zara in 2010 and premium clothing brand Massimo Dutti eight years ago. Its new offering, Bershka, will pitch it directly against Reliance Retail's Yousta, which too targets the younger consumer segment.
Brandy Melville Documentary: What does the HBO special reveal about CEO Stephan Marsan
HBO's newest documentary, "Brandy Hellville & the Cult of Fast Fashion," explores the realm of the teen fashion label Brandy Melville, Through interviews with former staff and executives, the documentary seeks to expose the alleged "toxic culture" within Brandy Melville.
Fast-fashion retailer H&M delayed some campaigns due to Red Sea crisis
H&M, the world's second-largest fashion retailer, has delayed some Spring/Summer campaigns due to shipping delays caused by the Red Sea crisis. CEO Daniel Erver stated that the impact on customer availability was minimal. The delays, around two weeks in some markets, are due to ships avoiding the Suez Canal. H&M is monitoring the situation and has taken measures to minimize the impact, including asking suppliers to ship products earlier and speeding up plans to shift production closer to customers.
Fashion retailer H&M beats expectations in spring recovery
H&M, the world's second-largest listed fashion retailer, beat first-quarter operating profit expectations on Wednesday, as new CEO Daniel Erver said spring collections were well received and sales showed signs of recovery.
Clothing giant Shein in focus as France targets fast fashion
With jaw-droppingly low prices and a seemingly endless selection of trendy clothes, Shein has taken the world by storm -- and found itself in the crosshairs of French lawmakers who want to curb the excesses of fast fashion. The French parliament last week approved measures to make low-cost fast fashion less attractive to customers, especially because of sustainability concerns.
Tech-first VCs line up for new-age consumer brands, offline businesses
Tech-first VC Nexus Venture Partners will lead a $5 million funding round in specialty coffee brand AbCoffee and it will also invest in lab-grown diamond maker Aukera, sources told ET. Accel, one of Flipkart's earliest investors, will close a $12 million round in fast fashion brand Newme. Why are tech-first VCs lining up for new-age brands with a horde of affluent young customers?
Fast-growing retail sector fuelling demand for commercial space
Homegrown retail brands like Zudio, D-Mart, Style Union, Ratnadeep, Reliance Trends and Azorte are rapidly scaling up their operations, in turn leasing sizable real estate.
Reliance Industries in talks to bring British fashion retailer Primark to India
Primark has been a successful value-priced retailer and its global revenue has exploded in the last few years, aside from two Covid-hit years. Average prices are even cheaper than retailers such as H&M and Uniqlo. While China is the largest source country for Primark, India is second in the number of small to large factories that supply the company. Nearshoring is already embedded in Primark's supply chain strategy, and it can deliver goods from Indian suppliers directly to a local retail unit for cost control and flexibility while being responsive to local market needs.
Retailers forced to write-off inventory due to obsolescence, cut sourcing periods
Apparel retailers are facing challenges with unsold inventory, resulting in write-offs and impacting margins. They are reducing sourcing periods to mitigate the risk of obsolescence and adjusting their ordering strategies. The industry was unprepared for the sudden demand slump after the festive season in 2022, leading to stockpile. Retailers are now planning for shorter periods and buying closer to the season. Despite extended discounting, retail sales growth has been negative for like-for-like stores due to a shift in consumer spending towards travel and experiences.
Fast fashion brand Newme raises $5 million in funding round led by Fireside
The Bengaluru-based startup, which currently sells its own brand of clothing across both online and offline outlets was founded in 2022. It had in the past raised an undisclosed round of funding from investors such as Aum Ventures, 2am VC and All In Capital, all of whom have participated in the current round.
How Shein outgrew Zara and H&M and pioneered fast-fashion 2.0
Shein accounted for nearly one-fifth of the global fast-fashion market in 2022, outpacing Zara and H&M. Shein's low prices - $5 t-shirts and $10 sweaters - also draw shoppers who might have otherwise shopped at clothing discount stores.
How China's Shein became a fast-fashion giant
Shein uses an on-demand manufacturing system that allows it to quickly boost the production of popular items and drop products that do not sell as expected. The process helps improve production speed and inventory management.
China's fast-fashion retailer Shein files for US IPO - sources
Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the offering, and Shein could go public sometime in 2024, the sources said.
China's fast-fashion retailer Shein files for US IPO - sources
Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the offering, and Shein could go public sometime in 2024, the sources said.
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