INDIA FASHION INDUSTRY
Budget 2024: Sitharaman can help weave Indian textile industries' golden fortune with PLI extension to garment sector, MSME funding
India, the world's sixth largest textile and apparel exporter, faces challenges in achieving its textile export goals. The government aims to achieve $600 billion in textile exports by 2047, but the sector faces challenges such as geo-political uncertainties, consumption shifts, and low overall growth. The textiles sector is also affected by the ongoing Russia-Ukraine war, the Red Sea crisis, and the Israel-Hamas conflict.
Once rebuffed, a Chinese company finds the Ambani route to India
It seems a safe India entry for Shein because this time the ownership and control of the platform will remain with Reliance Retail's subsidiary; the platform will be hosted on infrastructure in India; and all platform data will remain in India, which Shein will not have access to, or rights over, ET has reported based on information from sources.
Premium sneaker stampede sweeps India off its feet and Adidas is game for it
The trend of premiumisation is gaining momentum in the footwear, watches, and gym apparel market, with consumers seeking quality, exclusivity, and a deeper connection with their brands. Adidas and Myntra have seen a 30-40% increase in premium options on their website, reflecting this trend. India's large population aspiring for better products and a natural consumer behavior of constantly seeking improvement are driving this trend.
Putting the desi in design: India seems to be the flavour of global fashion
At the Paris Haute Couture Week, Rahul Mishra made his ninth appearance and Vaishali Shadangule released her collection ‘Satori’. Kartik Kumra showcased at the Menswear Fashion Week in Paris while Dhruv Kapoor returned to the men’s fashion week in Milan. And Mayyur Girotra showcased at the New York Pride. This is the runway. The red carpet is another story. And Hema Bose is the lead writer of that tale.
Jewellery and fashion retailers hope for demand boost during festive, wedding season
Fashion and jewellery retailers are optimistic about increased demand during festivals and the wedding season in the latter half of the year. A good monsoon is expected to boost consumption among those in the agrarian sector. The mass segment suffering due to cautious spending behaviors. Retailers are concerned about flat demand growth and are closely monitoring the upcoming Union Budget for industry implications.
Green jobs in textile can become the largest job opportunity in India: Aditya Birla Fashion’s Naresh Tyagi
As the world of textile rapidly moves towards becoming sustainable, it also seeks skills for the same. India, which is one of the largest textile manufacturers, can create a big pool of green talent.
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Amazon plans discount store in US to fight China's Temu and Shein: report
Amazon is launching a new storefront on its website in the US for low-cost items in fashion, lifestyle and home goods. This is the etailer's latest move is being viewed a move to one-up Chinese companies Temu and Shein, which have gained major traction in the US due to their modest prices.
Pawan Kalyan's son Akira spotted wearing Prabhas' shirt at 'Kalki 2898 AD' premiere, tries to escape paparazzi
Akira Nandan, son of Pawan Kalyan, attended the premiere of 'Kalki 2898 AD' sporting a T-shirt featuring Prabhas' character. He joined enthusiastic fans celebrating the film's release, which has received positive early reviews for its blend of futuristic technology and mythological themes. The premiere was marked by fan fervor, with Akira seen evading paparazzi as he enjoyed the screening alongside his mother.
Video commerce offerings gain traction, Indians spent over 2 mn hours video shopping: Flipkart
Flipkart announced on Thursday that its video commerce platform has seen significant adoption, with Indian customers spending over 2 million hours on it from June 2023 to May 2024. The increase in usage highlights the growing trend of video commerce in India, driven by tech-savvy and digitally inclined consumers.
Quant Mutual Fund added 27 stocks to its portfolio in May. Do you own any?
Quant Mutual Fund is under Sebi inquiry for suspected front-running, leading to search and seizure operations in Mumbai and Hyderabad.
Virat Kohli and Accel-backed WROGN gets Rs 125 crore from Aditya Birla's TMRW
TMRW House of Brands, a venture of Aditya Birla Group, has invested Rs 125 crore in WROGN, a youth brand in casual wear founded by Anjana and Vikram Reddy in 2014. The investment adds another leading fashion brand to TMRW's portfolio, enhancing WROGN's growth trajectory in the competitive fashion industry.
Gen Z laps up ethnic fashion brands; Warburg Pincus-Whatfix deal
Happy Wednesday! Ethnic wear brands are gaining prominence among young working professionals and, in the process, attracting investor interest. This and more in today’s ETtech Morning Dispatch.
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.
Handy in all times, moat of strong brand: 5 stocks, which are leader in their sectors that can offer up to 31% returns
If one looks at the history of the markets, there are companies which always trade a premium. Long time and still a number of such companies used to be MNC companies which used to get premium. But over the last 15 years, some of the Indian companies have been getting a premium on the street. The premium because they are the leader in their category in terms of market share and they have strong brands. It has been seen that when markets are high and these sets of companies where valuations are not cheap, even then analysts have not initiated a sell call, rather they have moved to hold. A strong brand helps a company's weather all storms of an economic slowdown or inflationary pressure and over a period of time it has been witnessed that companies with strong brands are able to pass on increased costs and maintain their margins to a large extent. Also they are to diversify into other products on the back of one strong brand.
Suzlon Energy, PB Fintech, NHPC among 19 midcap additions by mutual funds in May
Top mutual funds like SBI Mutual Fund, Axis MF, Nippon India MF bought 19 midcap stocks, including Suzlon Energy, NHPC, and PB Fintech, the parent of online insurance aggregator Policybazaar.
“EORS is going to be a game changer”: Uptownie’s Co-Founder Shivani Agarwal on the fashion brand’s partnership with Myntra
Myntra, a popular e-commerce platform, offers a vast selection of women's western wear, including trendy tops. Uptownie, a well-loved brand on Myntra, provides affordable and trendy fashion for Indian consumers. The ongoing End Of Reason Sale on Myntra presents great deals on Uptownie's viral products.
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.
Ethnic fashion brand Libas raises Rs 150 crore from ICICI Venture
Libas started going offline about 18 months ago and operates 15 store across the country. It plans to open 200 stores by 2026. “The organised Indian apparel sector is expected to grow significantly in coming years and this investment will fuel expansion across categories, and geographies with a strong focus on omnichannel experience,” said Sidhant Keshwani, founder and CEO of Libas.
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.
Q4 results this week: Tata Steel, LIC, IRCTC, Apollo Hospitals Enterprise, and Bharat Dynamics
Several companies, including Tata Steel, LIC, and IRCTC, will release their March quarter report cards this week.
Post-pandemic, Indians shopped...till they dropped (in FY24)
Pent-up demand post-Covid led to booming sales in athleisure wear and lifestyle products. Kumar Rajagopalan notes the unsustainable high growth post-pandemic and the impact on consumer spending.
Page Industries Q4 Results: Firm misses earnings estimates on high inventory costs, muted demand
The company reported an inventory cost of 364.6 million rupees, compared to a negative 1.83 billion rupees in inventory value a year ago.
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.
Reliance Retail partners with UK-based fashion retailer ASOS
India's largest retailer, Reliance Retail, has signed a long-term licensing agreement with UK's leading online fashion retailer ASOS, bringing the brand to India. Reliance Retail will be the exclusive retail partner for ASOS across all online and offline channels in India, introducing its curated portfolio of fashion-led own brand labels through a multi-channel presence and diverse retail formats.
F&O Ban List: Canara Bank, Piramal Enterprises among 10 stocks under trade ban on Friday
F&O Ban List: When the open interest (OI) of any stock's Futures & Options contracts reaches 95% of the market wide positions limits (MWPL), it enters a ban period. The ban is lifted only when the open interest falls below 80%.
F&O Ban List: Zee, PNB among 8 stocks under trade ban on Thursday
F&O Ban List: When the open interest (OI) on any stock's Futures & Options contracts surpasses 95% of the market wide position limits (MWPL), it enters a ban period. This ban is lifted only when the open interest drops below 80%.
F&O Ban List: SAIL, Biocon among 6 stocks under trade ban today
F&O Ban List: F&O trade ban includes SAIL, Biocon, ABFRL, Balrampur Chini, GMR Airports, Vodafone Idea. Ban lifted if OI falls below 80%.
Bandhan Flexi Cap mutual fund's current return profile remains poor; should you remain invested?
We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
View: Fashion should be fun, not fatal
While the bulk of leather in fashion is derived from cattle, leather from reptiles is another industry. For this, crocodiles are bred in rancid, severely crowded concrete pools, and snakes are nailed to trees. In a crude attempt to kill them, pythons are pumped full of air, which creates crushing pressure, but may not kill the animals. This means that snakes may still be alive as workers peel off their skin and disembowel them.
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